hi,
There is a party in the market.
Mobikwik made a stellar debut in the stock market, with its share price ending 90% higher than its issue price, closing at Rs 530 per share on the BSE. The strong performance came after the digital payment platform’s offer was subscribed 119 times, breaking the records of Awfis and Unicommerce.
Hypermarket chain Vishal Mega Mart also performed well on the first day as its shares opened 33 percent higher than the issue price and closed 10 percent higher. The market capitalization of the company has crossed 50,000 crores.
More records were broken today as Databricks raised the single-largest venture funding hole in 2024. The data analytics and AI firm raised $10 billion in October, surpassing OpenAI’s $6.6-billion raise. After the funding, Databricks’ mcap grew to $62 billion.
Speaking of valuation, Zomato’s mcap has outpaced automobile major Tata Motors, which has grown 162% year-to-date to Rs 2.83 lakh crore. The rise comes as the food delivery aggregator will replace JSW Steel in the Sensex next week.
The company has more than one reason to celebrate. According to domestic brokerage Nuva Institutional Equities, Zomato is expected to see inflows of $513 million next week after becoming the first new-age tech stock to be included in the Frontline index.
Also, according to Hurun India’s list of top 200 self-made entrepreneurs, Zomato CEO Dipendra Goyal is second behind Dalal Street legend Radhakishan Damani. After the foodtech company’s stock market debut, Swiggy’s Sreeharsha Mazetti and Nandan Reddy are in third place.
There was only one woman in the top 10 list. Can you guess who?
Hint: She runs a beauty market company.
We will talk about it in today’s newsletter
- Solarium Green Energy’s IPO Plans
- Achieving net zero goals with AI
- Bridging traditional knowledge with technology
Here’s your trivia for today: What was the original name of Mumbai’s Chhatrapati Shivaji Maharaj International Airport?
IPO
Solarium Green Energy’s IPO Plans
Solar solutions provider Solarium Green Energy on Wednesday said it has received approval from the BSE for its draft red herring prospectus (DRHP), marking the next step on the company’s path to listing on Indian public shares.
Key measures:
- The company filed its DRHP in September and intends to issue 55 lakh equity shares, each with a face value of Rs 10.
- According to the DRHP, the company intends to use the proceeds from the IPO for general corporate purposes and to meet its working capital requirements.
- The listing comes amid a flurry of solar companies to list on Indian public shares this year, as government schemes and international expansion have helped boost activity in the sector.
Fund Alert
Startup: The Bureau
Amount: $30M
Round: Series B
Startup: Bizom
Amount: $12M
Round: Series B
Startup: Vyomastra
Amount: $1.5M
Round: Unknown
Startup
Net zero goals with AI
LivNSense Technologies hopes to fight the climate war with AI, IoT, and digital twin technologies (virtual representations of objects or systems).
The company uses patented intelligent process systems and helps firms decarbonize process value chains, reduce carbon emissions and increase profitability in the cement, asphalt, metals, and petrochemical manufacturing industries.
Environment:
- The company’s platform, GreenOps, is a full-stack decarbonization solution that leverages AI and ML for predictive analytics, simulating operational changes and providing prescriptive insights to identify inefficiencies.
- Its digital twin technology simulates scenarios for performance optimization without physical use, providing comprehensive integration across the value chain.
- LivNSense operates mostly in India, APAC, and the UAE and plans to expand its operations to Europe and Japan by 2025, followed by Africa and Latin America by 2026-2027.
Women Entrepreneurs
Bridging traditional knowledge with technology
In 2021, Bhavana Chaudhary launched ‘The Indigenous’ initiative, a research-driven organization working as a think tank.
The founder describes Swadeshi as a bridge between traditional knowledge and modern technology. The team uses big data, drones, and satellite imagery to map forest cover, biodiversity loss, and other environmental changes.
For the public:
- Beyond research, Indigenous peoples foster deeper relationships with communities, often connecting through eco-tourism. Chaudhary collaborates with initiatives like ChaloHoppo, which curates immersive experiences in Northeast India.
- “People relate to what we’re doing and offer their time and skills. We’ve achieved a lot without money, but we’re at a point where we need sustainable funding to grow,” shares Chaudhary.
- Chaudhary openly criticizes the Assam government’s poor environmental planning and infrastructure development for reclassifying land for fuel. His frustration extends to India’s climate policies.
News and updates
- Auto merger: Honda and Nissan have held exploratory talks about a possible merger to help them compete against EV makers, particularly in China. In March, the two Japanese carmakers agreed to explore a strategic partnership for EVs.
- Nuclear fusion: Commonwealth Fusion Systems, a private company spun out of the Massachusetts Institute of Technology, built the world’s first grid-scale fusion power plant in Virginia, USA, to produce electricity in the early 2030s. Planned to make.
- Dark comets: Astronomers have found seven new examples of cosmic phenomena known as dark comets that could help scientists figure out if they helped deliver important elements like water to Earth early in the planet’s history. These celestial objects are similar to asteroids but move through space like comets, although “tails” are known without comets.
What was the original name of Mumbai’s Chhatrapati Shivaji Maharaj International Airport?
Answer: City Airport.
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