FirstCry Likely to List on Stock Exchanges on August 13

- Shares of kids-focused omnichannel retailer FirstCry made a strong debut on the exchanges today, opening higher than the issue price. - On the NSE, shares of FirstCry’s parent Brainbees Solutions opened at INR 651, at a premium of 40% over its issue price of INR 549. On the BSE, it listed at INR 625, reflecting a 34.4% premium. - FirstCry has set a price range of INR 440 to INR 465 per equity share for the IPO. At the upper end of the band, Brainbees Solutions intends to raise INR 4,193 Cr. - The omnichannel baby and kids marketplace raised INR 1,885.82 Cr from anchor investors at INR 465 per equity share, with participation from major investors like the Government of Singapore and Abu Dhabi Investment Authority. - FirstCry’s market capitalization stands at INR 6,934.74 Cr as of today. Source: [Inc42](https://inc42.com/buzz/firstcry-shares-list-at-40-premium-over-ipo-price-on-debut/)

Seems like they didn't share all the relevant metrics in their papers. Now they'll file a new IPO paper later.

Might be a good bet to filter out the ones with good culture, and apply there if you want a somewhat safe but growing career. Does anybody know startups here with good culture?

- Blackbuck, a logistics unicorn, has filed a draft red herring prospectus for a fresh issue of Rs 550 crore and an offer for sale of 2.16 crore shares. - Key investors selling shares in the IPO include Accel (52 lakh shares), Tiger Global (9 lakh shares), Flipkart (4 lakh shares), and IFC (17 lakh shares). - Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam will also sell a combined total of 44 lakh shares. - Blackbuck's revenue rose 69% from Rs 176 crore in FY23 to Rs 297 crore in FY24, while net loss narrowed from Rs 290 crore to Rs 194 crore. - The IPO proceeds will fund marketing, product development, its NBFC arm, and general corporate purposes.

While there are lot of VCs coming out with their ‘expert’ outlook on 2024, let’s be real to share our own predictions. Idea is to share and learn and not just mudsling. Let me go first with few of my own 1. Neobanking will go belly up - it’s really hard to make money in just Savings account led neobanking I believe. With lending increasingly difficult, I think we will see likes of Jupiter going belly up 2. Gold mine of climate tech - climate tech will become more mainstream stream (similar to content and community in 2021, D2C in 2022 and SaaS in 2023) What are yours?

- Jaipur-based D2C men’s grooming brand Menhood is set to go public with an NSE Emerge listing. - The IPO will open on July 16 and close on July 19, with a price band of INR 71-75 per share. - Menhood aims to raise INR 19.5 Cr at the upper end of the price band, offering 25,95,200 equity shares. - Proceeds will be used to expand product offerings and enhance operational capabilities. - Menhood will be the third new-age startup to list on NSE Emerge this year, following TAC Infosec and Trust Fintech. Source: Inc42

The market seems a bit dry now

- Invesco valued its 28,844 shares of Swiggy at $219.2 Mn as of April 2024, translating to a $12.3 Bn valuation for the foodtech company. - Pine Labs' valuation was pegged at $3.5 Bn at the end of April 2024, down from $3.8 Bn in January 2024. - The valuation cuts come as Swiggy prepares for its $1.25 Bn IPO, having filed its draft red herring prospectus with SEBI. - Despite the cuts, Swiggy's latest valuation is still 15% higher than its $10.7 Bn valuation during its $700 Mn decacorn round in 2022. - The valuation adjustments follow a period of funding challenges and losses for Indian unicorns, though investor sentiment has recently improved. Source: Inc42

- IndiQube is in advanced talks to finalize merchant bankers and aims to file its DRHP within three months. - The startup plans to raise INR 1,000 Cr – INR 1,500 Cr from its IPO, mainly through fresh share issuance. - IndiQube posted a profit of INR 60 Cr in FY24 on an operating revenue of around INR 850 Cr. - Founded in 2015, IndiQube offers managed office spaces and counts WestBridge Capital and Helion Ventures among its backers. - The company competes with Awfis and Smartworks, with the latter also filing its DRHP recently. Source: [Inc42](https://inc42.com/buzz/exclusive-coworking-space-provider-indiqube-in-talks-with-bankers-for-inr-1500-cr-ipo/)