Valuation Financial News

By Sri Hari N S and Manya Saini

(Reuters) — Instacart is aiming for a valuation of up to $7.73 billion in its initial public offering in New York, the grocery delivery service said on Monday, in another step toward a hotly-anticipated listing.

In the last few months, Indian equities have seen a sharp run-up across market segments, particularly the midcap and smallcap stocks, where the bull run is still continuing. In this backdrop, the market valuation looks a bit stretched, according to Shreyash Devalkar, Head — Equity, Axis Mutual Fund. “Stock selection will hold the key in these markets. For investors, this period of consolidation can be used to rebalance portfolios as we play longer term themes,” he said in an interview with ETMarkets. Edited excerpts:Inflation and rate hike concerns are making a comeback both on the domestic and global fronts. Is this likely to dampen the Indian market momentum in the near term?Inflationary risks have been a concern primarily due to increased vegetable prices and the run-up in oil prices. However, food related price pressures are expected to subside with the arrival of fresh stock, the government banning rice and onion exports and taking measures to bring down tomato prices. So, we believe the current inflation levels are transient.

Grocery delivery service Instacart is targeting a valuation between $8.6 billion and $9.3 billion in its initial public offering, the Wall Street Journal reported on Sunday. The company is expected to disclose the valuation range when it begins a marketing campaign, which could happen as soon as Monday, the report said, citing people familiar with the matter.

(Reuters) — Grocery delivery service Instacart is targeting a valuation between $8.6 billion and $9.3 billion in its initial public offering, according to a person familiar with the matter.

NEW DELHI : The sharp rally in the mid- and small-cap segments has led to a valuation premium developing in many companies, which could hamper return potential as markets take a breather. One of the reasons why the broader markets have outperformed is because the mid- and small-cap space is filled with high-quality companies which are able to scale businesses quickly, Shreyash Devalkar, head, equity, Axis Mutual Fund, said in an interview. Edited excerpts: How do you see rising crude prices and currency volatility impacting the Indian markets? The cyclicality of crude prices has historically roiled India’s economy, and by extension, its markets.

China's Alibaba Group Holding Ltd is putting a potential Hong Kong initial public offering of its Freshippo grocery chain on hold amid weak sentiment for consumer stocks, Bloomberg News reported on Friday, citing sources. The Chinese technology conglomerate has concluded it could likely achieve a valuation of around $4 billion for Freshippo, which is lower than the $6 billion to $10 billion it was targeting when it considered raising a private funding round last year, according to the report.

Singapore based Temasek has invested $140 million in Ola Electric at a valuation of $5.4 billion. The development comes as part of an ongoing round to raise $250 million ahead of the e-scooter maker's initial public offering. Reports quoting sources indicated that there could be another round of fund raising before Ola Electric files papers for an up to $1 billion IPO.

Temasek led a $140 million funding round in India's Ola Electric at a valuation of $5.4 billion, two sources with the direct knowledge said, the latest funding for the e-scooter maker before its initial public offering. The investment round has been closed and Ola will be receiving the funds within a week's time, though there will be another round of fund raising before it files papers for an up to $1 billion IPO planned for late 2023, said the first source. Ola did not respond to a Reuters request for comment, while Temasek, which is an existing investor in Ola Electric, declined to comment. Ola Electric, founded by Bhavish Aggarwal and backed by Japan's SoftBank Group, has become India's e-scooter market leader with a 32% share, competing with Ather Energy as well as companies such as TVS Motor and Hero Electric. Valued at $5 billion last year, Ola sold around 95,000 e-scooters during April-August 2023, industry data showed.

NEW DELHI : Taxation of share premium in unlisted businesses, an anti-evasion provision introduced in the tax law more than a decade ago to tackle corruption, has over the years become a key concern for startups, with the industry waiting to see how its expanded scope will be implemented on the ground. The finance ministry is set to come out with the final version of the five extra valuation methods for foreign investors in about a fortnight to ensure the worth of unlisted companies is accurately assessed for tax purposes after public consultation of the draft rules in May.

MUMBAI/NEW DELHI : Tata Group's consumer unit is in talks to buy at least 51% of popular Indian snack food maker Haldiram's but is not comfortable with the $10 billion valuation sought, two people briefed on the matter said. If successfully concluded, a deal would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambani's Reliance Retail. Haldiram's, a household name in India, is also talking with private equity firms including Bain Capital about the sale of a 10% stake, they said.

startups toward going public as its success would signal the return of investor appetite for technology companies. Several other big names including grocery delivery service Instacart Inc, marketing automation platform Klaviyo and footwear brand Birkenstock are expected to list their shares on U.S. exchanges in the coming weeks.

New Street Research analyst Pierre Ferragu said in a research note Tuesday that the reported Arm Holdings (ARM) IPO range is an «attractive valuation.»

British chip designer Arm Ltd. is targeting a valuation of more than $52 billion from what is expected to be the largest initial public offering this year, according to the company’s latest regulatory filing. SoftBank Group, Arm’s owner, plans to sell roughly 10% of the total shares outstanding, setting a share sale price of between $47 to $51 apiece.

SoftBank Group's Arm is seeking a valuation of more than $52 billion in its initial public offering as the chip designer heads for the biggest stock market flotation of the year. SoftBank is offering 95.5 million American depository shares of the Cambridge, United Kingdom-based company for $47 to $51 apiece and aims to raise up to $4.87 billion at the top of the range, a regulatory filing showed on Tuesday.

ET Intelligence Group: The stock of IDFC First Bank has gained 33% over the past three months compared with the 0.2% increase in the ET Banks index and 4.5% gain in the benchmark S&P BSE Sensex. The stock’s outperformance owes to the bank's stellar performance in the June quarter with a strong growth in the loan book and fee income, and improving asset quality.

all-time high of Rs 315 lakh crore on Monday, helped by strong investor sentiments amid encouraging domestic macroeconomic data and a firm trend in global stocks. The BSE benchmark Sensex climbed 240.98 points, or 0.37 per cent, to settle at 65,628.14.

The INX Digital Company, Inc., a US-regulated broker-dealer, ATS, and transfer agent, has announced the successful conclusion of its initial investment phase with OpenDeal Inc., also known as Republic. This development comes as part of the Subscription Agreement dated June 15, 2023, between the two entities. Republic, a renowned global financial firm, has acquired 9.5% of INX's shares with an investment of US$5.25 million, reflecting a pre-money valuation for INX of approximately US$50 million.

IPO), ahead of its roadshow with investors next week, according to people familiar with the matter. Arm, the chip designer owned by SoftBank Group Corp, is expected to set a price range for its offering next week, the sources said. Arm plans to price its shares on Sept. 13, with stock trading on the Nasdaq to start the following day.

Apple Inc, Nvidia Corp, Alphabet Inc and Advanced Micro Devices Inc have agreed to invest in the chip designer's initial public offering, according to people familiar with the matter. Intel Corp, Samsung Electronics Co Ltd, Cadence Design Systems Inc and Synopsys Inc have also agreed to participate as investors in the offering, the sources added. The talks are ongoing and some other potential investors are also in discussions to invest in the IPO, the sources added. SoftBank Group Corp, which owns Britain-based Arm, is targeting a valuation between $50 billion and $55 billion, Reuters reported earlier on Friday.

By Echo Wang