IPO Financial News

Klarna Group Plc filed publicly for a US IPO in what could be one of the year’s biggest financial company listings. The Stockholm-founded digital payments company’s revenue climbed 24% last year. Klarna had net income of $21 million on revenue of $2.81 billion for 2024, compared with net loss of $244 million on revenue of $2.28 billion a year earlier, according to its filing Friday with the US Securities and Exchange Commission. Klarna filed confidentially for the initial public offering in November. Klarna is seeking to raise at least $1 billion in the IPO and is targeting a valuation of more than $15 billion in the listing, Bloomberg News reported. The company and some of its shareholders are selling shares in the offering, the filing shows.

Subscribe to enjoy similar stories. Mumbai: 3one4 Capital, a homegrown venture capital firm, has successfully returned its first fund to investors with a performance of more than 1.0 DPI (distributed to paid-in capital). The firm is sitting on unrealized gains of around 4x in the portfolio companies of this fund, said Pranav Pai, founding partner and chief investment officer of 3one4 Capital, in an interview with Mint.

For decades, Titan was the undisputed crown jewel of Rakesh Jhunjhunwala’s legendary portfolio. But in a stunning shift, a new stock has taken its place at the top—Inventurus Knowledge Solutions (IKS).

Edtech unicorn Physicswallah, which is preparing to file draft papers for its initial public offering, has appointed three independent directors to its board, regulatory filings made with the Registrar of Companies show. The Noida-based company has appointed former Zomato deputy CFO Nitin Savara, former RBI regional director Rachna Dikshit, and ex-bureaucrat Deepak Amitabh, who is currently engaged with the Adani Group, as independent directors. Queries sent to Physicswallah on the development did not elicit any response.

Subscribe to enjoy similar stories. Market regulator Securities and Exchange Board of India (Sebi) has notified new norms for initial public offerings (IPOs) of small and medium enterprises (SMEs) to protect investor interests. Mint takes a look at this excitable segment of the equity market: Sebi last week notified amendments to tighten rules for initial share sales by SMEs.

Subscribe to enjoy similar stories. Blackstone Group Inc of the US will build out its credit and infrastructure verticals in India to complement its private equity (PE) and real estate businesses, senior executives at the firm said, adding that the firm is expecting to double its India assets under management (AUM) over the next three years. “We have a global (credit) business of over $450 billion in assets that we hope to bring into India," Blackstone’s chairman, chief execuitve officer and co-founder Stephen Schwarzman said in a media interaction in Mumbai.

Infosys cofounder Nandan Nilekani predicts that India will have one million startups by 2035. He said that there are 150,000 startups today growing at a compound annual growth rate of 20%. He also noted that among 2000 funded startups, 100 unicorns have been created. He was speaking at venture capital firm Arkam Ventures Annual Meet 2025 on Wednesday here where he outlined a strategic roadmap for India to achieve an 8% annual growth rate and become an $8 trillion economy by 2035.

The retail portion of the issue was subscribed by 1.88 times, while the issue was subscribed by 14% in the non-institutional investors category on the final day of bidding. Meanwhile, the qualified institutional buyers had not made any bids yet.

The retail portion of the issue was subscribed by 84%, while the issue was subscribed by 6% in the non-institutional investors category on the second day of bidding. Meanwhile, the qualified institutional buyers had not made any bids yet.

Subscribe to enjoy similar stories. While equities have been sliding since late 2024, gold has been on a tear. The run-up in gold prices means the union government faces a much higher liability on payouts in its sovereign gold bond (SGB) scheme, which was introduced in 2015 and raised funds in 67 tranches.

IPO (Initial Public Offering) market, achieving unprecedented milestones in terms of funds raised, investor participation, and listing activity. With a record haul of $20.5bn (approx Rs 1.6 lakh crore) raised, India has surpassed its previous high of Rs 1.18 lakh crore in 2021, becoming the second-largest IPO market globally after the United States. October 2024 was a standout month, with Rs 38,700 crore raised — the highest ever for any single month in Indian history. This included blockbuster IPOs like Hyundai Motor and Waaree Energies, with Hyundai’s offering alone raising Rs 27,870 crore – India’s biggest to date. Despite market volatility, the Indian IPO Market is set to maintain strong momentum in 2025, with several marquee names gearing up for public listings.

"SBI is certainly within the public sector framework, it is the best within the lot. But if my choice has to be there, today I would prefer to go with Kotak and ICICI," says Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd. What are your thoughts on IndusInd Bank? What is it that you have made of these discrepancies in their accounting balances, estimating an adverse impact of nearly about 2.35% on their net worth as of December 2024. We have of course seen the stock take quite a bit of hit yesterday itself when Sumant Kathpalia’s extension got shortened to one year and not three years. But other than that, now that it seems that in the interim IndusInd Bank is not going to be really the preferred one, which of the private banking names do you prefer right now if you were looking to add positions in this current market? Deven Choksey: It is a challenging activity business-wise for most of the banks. On one side, they have to cope up with the technology front for reaching out to their customers and efficiently processing the loans and collecting the deposits.

Subscribe to enjoy similar stories. Late in August, when the stock market’s bull run was close to its peak, the initial public offer (IPO) of a two-wheeler dealer with a handful of employees managed to attract bids worth 400 times the amount of capital it sought to raise. That was the level of enthusiasm back then among investors, who were willing to pour big bucks into just about any business going public.

Subscribe to enjoy similar stories. Physics Wallah is building small language models (SLMs) to solve questions in physics, chemistry, mathematics and biology, as the edtech major seeks to leverage artificial intelligence (AI) for scale and efficiency. “Our chief technology officer Devesh Mishra has dropped all his other responsibilities to focus on building SLMs for Physics Wallah," company founder and chief executive Alakh Pandey told Mint in an interview.

Subscribe to enjoy similar stories. Cloud firms that rent out servers have been some of the early winners in the AI revolution. Some of the early winners in the AI boom are the cloud companies that rent out servers—primarily Amazon.com, Microsoft, and Alphabet.

secondary market. This slowdown in IPO activity is reflected in the numbers, as only five companies went public in January and four in February, compared to 16 listings in December 2024. Quality Power Electrical Equipment Ltd was the recent IPO which opened for three-day bidding on February 14. However, the trend of slower activity is evident as at least three companies — Advanced Sys-tek, SFC Environmental Technologies, and Viney Corporation — withdrew IPO plans by pulling their draft papers in January and February.

Tata Capital is likely to file preliminary papers with markets regulator Sebi to raise USD 2 billion (over Rs 17,000 crore) through an initial public offering (IPO) only after getting final approval from the NCLT for Tata Motors Finance merger with the company, according to sources. At this size, the company is expected to be valued at around $11 billion, they said. The final order is awaited from the National Company Law Tribunal (NCLT), which is expected to be closed by the end of this financial year (FY25), sources said.

Ultraviolette plans to invest up to USD 100 million (nearly Rs 870 crore) in the next three to four years to fuel growth, including expansion of product portfolio, manufacturing and network, according to its founders. The company, which announced plans to bring ten new products, including scooters and long-range cruiser bikes, in the next three years, is targetting annual sales of 1 lakh units in this period, with presence not just in India but also in Europe and South East Asia, Ultraviolette CEO & Co-founder Narayan Subramaniam, and CTO & Co-founder Niraj Rajmohan told PTI. Rajmohan said the company has already made investments on R&D to build the fundamental building blocks, including charging systems, battery systems, motor control and vehicle control electronics, smart connected systems and advanced sensing systems. «We are in discussions from a larger investment point of view in the order of the USD 70-100 million that is meant to scale across product portfolio expansion, geographic expansion and growth,» he said when asked about planned future investments in the next three to four years.

independent directors as they gear up to tap the public markets in the next one to two years. The credibility and strength of the top deck becomes critical for firms preparing for an initial public offering (IPO), said experts. Apart from meeting regulatory requirements, a well-picked board with experienced and independent voices as directors can help inspire confidence among prospective investors as raising public money comes with far greater transparency and accountability. Executive search firms, including Korn Ferry and Transearch, said they are seeing a minimum 25% increase in independent director mandates, and are running anywhere between three and six such searches at any given time.

StubHub is reportedly planning to launch an Initial Public Offering (IPO) later this year. The ticket resale marketplace company has started early discussions with investment bankers about a potential public offering, according to a New York Times report.

After years of setting up legal headquarters abroad, Indian startups are increasingly shifting their domicile back to India. Companies such as Razorpay, Udaan, Pine Labs, and Meesho are reversing their earlier decisions, while Zepto has already completed the transition. The trend, known as “reverse flipping,” is being driven by improved IPO prospects, easier compliance, and India's strong economic growth. The shift is not straightforward, with companies requiring multiple legal and regulatory approvals and paying significant taxes. However, India’s maturing capital market is providing a compelling reason for startups to return. Alok Bathija, Partner at Accel, said that while a software firm with $50-$60 million in revenue can now list in India, a similar listing in the US would require nearly $500 million in revenue. With Indian markets offering higher valuations and greater accessibility, more startups are choosing to relocate.