Planify

Ixigo📳, a travel aggregator operated by Le Travenues Technology Limited, is set to open its Initial Public Offering ( ) on June 10, 2024. The company aims to raise Rs 120 crore through a fresh issue and an offer for sale (OFS) of up to 66,677,674 equity shares. This marks Ixigo's second attempt at going public after its initial plans in 2021 were shelved due to unfavourable market conditions.

The funds from the IPO will be allocated towards technological investments, data science, AI enhancements, and customer engagement initiatives. The company has shown significant financial improvement, with a revenue increase of 32% in FY23 to Rs 501 crore and a turnaround from a loss of Rs 21 crore in FY22 to a profit of Rs 23.4 crore in FY23​.

Lets discuss More about IXIGO IPO✈️

Q: When is Ixigo's IPO scheduled to open?
-: Ixigo's IPO is scheduled to open on June 10, 2024.

Q: How much does Ixigo plan to raise through the IPO?A: Ixigo plans to raise Rs 120 crore through the IPO.

Q: What are the primary uses for the funds raised from the IPO?
-: The funds will be used for working capital requirements, investments in technology, data science, AI, customer engagement, acquisitions, and other strategic initiatives​.

Q: Who are the major participants in the offer for sale (OFS)?
-: Major participants in the OFS include Elevation Capital, Peak XV Partners, and Ixigo’s co-founders Aloke Bajpai and Rajnish Kumar, among others​.

Q: What financial performance has Ixigo reported recently?
-: For the nine months ending December 2023, Ixigo reported Rs 491 crore in revenue with a profit of Rs 65.7 crore. For FY23, the revenue was Rs 501 crore with a profit of Rs 23.4 crore, up from a loss of Rs 21 crore in FY22​.

Q: Which firms are managing Ixigo's IPO?
-: Axis Capital, DAM Capital, and JM Financial are the book-running lead managers for Ixigo's IPO​.

NSE's Launch of the Nifty EV & New Age Automotive Index

Q: What significant launch has NSE Indices Limited recently announced?

- NSE Indices Limited, a subsidiary of the National Stock Exchange (NSE), has launched the Nifty EV & New Age Automotive Index, which is India's first-ever index dedicated to the electric vehicle (EV) sector and new age automotive technologies.

Q: What is the purpose of the Nifty EV & New Age Automotive Index?

- The index aims to facilitate the creation of products that allow asset managers to invest in the electric vehicle and new age automotive markets, thereby providing an investment vehicle for investors. It aligns with NSE's vision of offering innovative indices that reflect current market trends.

Q: What are the comment receive on launch?

- Mr. Mukesh Agarwal, CEO of NSE Indices, commented, "The Nifty EV & New Age Automotive Index aligns with NSE’s vision to provide innovative indices in line with market trends. The launch of the index will facilitate the creation of products which will create opportunities for asset managers to invest in the electric vehicle and new age automotive market, thereby providing an investment vehicle to investors.

Q: What are the base date and base value of the Nifty EV & New Age Automotive Index?

- The base date for the index is April 02, 2018, and the base value is 1000.

Q: How frequently will the Nifty EV & New Age Automotive Index be updated?

- The index will be reconstituted semi-annually and rebalanced on a quarterly basis to ensure it remains reflective of the market.

Q: How many stocks currently constitute the Nifty EV & New Age Automotive Index, and can you name a few top constituents by weightage?

- The index currently includes 33 stocks. Some of the top constituents by weightage are Bajaj Auto, Tata Motors Ltd, Maruti Suzuki India Ltd, Mahindra & Mahindra Ltd, Exide Industries Ltd, Bosch Ltd, Samvardhana Motherson International Ltd, Eicher Motors Ltd, CG Power and Industrial Solutions Ltd, and Himadri Speciality Chemical Ltd.

Q: What sectors does the Nifty EV & New Age Automotive Index cover?

- The index captures the performance of companies involved in the electric vehicle ecosystem. This includes vehicle manufacturers, battery manufacturers, auto components and ancillary suppliers, and companies involved in the development of EV infrastructure.

Update on India’s solar module exports for fiscal year 2023-24

India's solar module exports increased to $1.97 billion in the fiscal year 2023-24, marking a 91% increase from the previous year. The was the primary recipient, accounting for $1.94 billion of these exports. Conversely, India's solar module imports also saw a substantial rise, reaching $4.35 billion, primarily from , which supplied $2.85 billion worth of modules. Vietnam and Malaysia were other significant suppliers. Imports of solar cells, not assembled into modules, also increased significantly, with China being the largest supplier.

Key points:

1⃣ How much did India's solar module exports amount to in fiscal year 2023-24?
- India's solar module exports reached $1.97 billion in the fiscal year 2023-24.

2⃣ What was the percentage increase in solar module exports compared to the previous year?
- The exports saw a 91% increase compared to the previous year.

3⃣ Which country was the largest importer of India's solar modules?
- The United States was the largest importer, accounting for $1.94 billion of the exports.

4⃣ How much did India's solar module imports amount to in the same fiscal year?
- India's solar module imports totalled $4.35 billion.

5⃣ Which countries were the primary suppliers of solar modules to India?
- China was the primary supplier, providing $2.85 billion worth of modules, followed by Vietnam and Malaysia.

6⃣ How did the import of solar cells, not assembled into modules, change?
- Imports of solar cells also increased significantly, with China being the largest supplier.

Reliance Retail's Third Round of Fundraising 🪙🪙

Q: What is Reliance Retail's current fundraising goal?

-: Reliance Retail is preparing for its third round of fundraising, aiming to secure a valuation exceeding $160 billion​.

Q: Why is Reliance Retail seeking additional funds?

-: The company is raising additional funds to support its expansion plans, enhance its digital infrastructure, and strengthen its market position against competitors like and -backed ​.

Q: How much did raise in its previous funding rounds?

-: In the previous funding rounds, Reliance Retail raised over $7 billion from global investors, including Silver Lake, KKR, and Mubadala​.

Q: Who are the potential investors in this round?

-: While specific investors for this round haven't been disclosed, it is expected that existing investors might increase their stakes, and new global investors could participate given the high valuation target​ (Indian Retailer)​​.

Q: What are the strategic areas Reliance Retail will focus on with the new funds?

-: The new funds will be allocated towards expanding its physical and digital retail presence, developing advanced technology solutions, and enhancing supply chain capabilities to better compete in the fast-growing e-commerce market​ (mint)​.

Q: How is Reliance Retail performing in the market?

-: Reliance Retail continues to perform robustly, with a significant footprint in the Indian retail market. It operates a mix of physical stores and digital platforms, catering to a wide range of consumer needs from groceries to electronics​ (mint)​.

Q: What is the significance of this fundraising for the Indian retail sector?

-: This significant fundraising effort underscores the immense potential and ongoing transformation of India's retail sector, driven by digitalization and changing consumer behaviours post-pandemic​.

, a Vedanta Group subsidiary, has formed a $1 billion joint venture with Singapore’s sovereign wealth fund GIC.

This partnership aims to meet the growing demand for power transmission networks in India, driven by the expansion of renewable energy.

The venture includes GIC’s $500 million investment for a 49% stake, with Sterlite contributing four significant assets.

The goal is to scale the operation to $4 billion by leveraging debt and additional capital, focusing on projects across Rajasthan, Assam, and Kashmir with substantial transmission capacity​ (Inventiva)​.

Sterlite Power has undergone a demerger, creating two entities:

1⃣Infrastructure Division: Develops and operates power transmission assets under long-term agreements and manages turnkey projects.

2⃣Domestic Manufacturing Business: Produces cables, conductors, and optical phase ground wires.
The joint venture aligns with India’s target of 500 GW of renewable energy by 2030, emphasizing robust power grids and energy storage facilities.

Sterlite also collaborates with Australia’s AMP Capital and has launched Serentica, a renewable power producer, with significant funding from KKR​.

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Upcoming Green Energy IPOs

1⃣NTPC Green
2⃣ONGC Green
3⃣SJVN Green Energy
4⃣NLC India Green Energy
5⃣NHPC Renewables Energy
6⃣Vikram Solar
7⃣Waaree Energie

Unlisted shares too join the bull run👍

on Unlisted shares Insights🚀

1⃣ National stocks exchange:

🤔NSE Decision: The National Stock Exchange (NSE) will introduce a one Paisa tick size for stocks priced below Rs 250 per share.

📅Effective Date: This change will be effective from June 10.

🏹Objective: Aimed at better price discovery and highlighting competition between NSE and BSE.

📜Tick Size Definition: Tick size is the smallest price increment between consecutive bid and offer prices.

🔐Affected Securities: Applies to all securities under EQ, BE, BZ, BO, RL, and AF series, excluding ETFs.

⚖️Settlement Impact: Tick size change will also apply to T+1 and T+0 settlement (series T0) securities.

2⃣Waaree Energies to supply 445 MW solar modules to Statkraft India.

🌍Project Location: Single-location solar projects in Bikaner, Rajasthan.

🧾Module Specifications: 540/545Wp dual glass bifacial modules.

📝Delivery Schedule: Between May and August 2024.

🎯Company Vision: Waaree aims to support India's renewable energy goals and meet growing power demand.

✒️Leadership Statement: Hitesh Doshi, Chairman & Managing Director of Waaree Energies, emphasized the partnership's importance in contributing to India's renewable energy transformation.

Vikram Solar's Promising Future in Renewable Energy🥳🥳

Vikram Solar is one of India's premier solar panel manufacturers, established in 2006. The company specializes in high-efficiency solar photovoltaic (PV) modules, engineering, procurement, and construction (EPC) services, and operations and maintenance (O&M) of solar power plants.

1⃣ How has Vikram Solar performed financially?

A2: Vikram Solar has shown significant financial growth in recent years. The company's revenue has steadily increased due to rising demand for renewable energy solutions and strategic expansion into new markets. These financial results are particularly important for those interested in the Vikram Solar IPO and Vikram Solar pre IPO opportunities, as they highlight the company's robust financial health and promising growth trajectory.

2⃣ Who are Vikram Solar's main competitors?

A3: Vikram Solar operates in a competitive landscape with notable players such as Tata Power Solar, Adani Solar, and Renew Power. Despite the competition, Vikram Solar's focus on technological innovation and quality has positioned it favorably among its peers. Continuous investment in research and development ensures that Vikram Solar's products remain at the forefront of efficiency and reliability.

3⃣ What recent awards and recognitions has Vikram Solar received?

A4: Vikram Solar was recently awarded a portion of a 1.58 GW DCR solar modules contract by NTPC, alongside Emmvee and Renew Power. This contract is a significant recognition of Vikram Solar's competitive edge and its reputation as a trusted solar power solutions provider.

4⃣ How do these awards impact Vikram Solar's share price?

A5: Awards and large contracts like the one from NTPC have a positive impact on Vikram Solar's share price. Recognition from prominent industry players enhances the company's credibility and market position. Such accolades are indicative of strong growth potential and robust market confidence, making Vikram Solar an attractive proposition for investors considering Vikram Solar unlisted shares or anticipating the Vikram Solar upcoming IPO.

5⃣ What benefits do these awards bring to Vikram Solar?

A6: The contract and similar awards contribute to increased production capabilities, higher revenues, and improved profitability for Vikram Solar. These factors collectively boost the Vikram Solar share price and underscore the company's strong market standing. Investors looking at Vikram Solar unlisted shares or the Vikram Solar upcoming IPO can view these awards as indicators of future growth and stability.

‌ in IPO sector🥇

Reach 8-Month High in May with ₹9,600 Crore Raised

May witnessed a significant surge in Initial Public Offerings (IPOs), with companies raising a substantial ₹9,600 crore, marking an 8-month high.

This uptick 📈reflects growing investor confidence and a favorable market environment for new listings.

👉Key Highlights:

1⃣Record- Breaking Month: May saw the highest activity in eight months, demonstrating a robust market appetite for new issues.

2⃣ ₹9,600 Crore Raised: The total capital raised through IPOs reached ₹9,600 crore, underscoring the market's vibrant performance.

SEBI's New Rules to Ease IPO Process

The Securities and Exchange Board of India ( ) has introduced amendments to simplify the IPO process, making it more accessible and business-friendly.

👉Key Changes by SEBI:

1⃣Enhanced Flexibility: New rules aim to provide greater flexibility for companies planning to go public, facilitating a smoother and quicker IPO process.

2⃣Improved Transparency: These amendments are expected to enhance transparency and efficiency, benefiting both issuers and investors.

These developments indicate a positive trend for the Indian equity markets, with regulatory support paving the way for increased IPO activity. The combined effect of robust market performance and regulatory facilitation is likely to sustain the momentum in the coming months.

The National Stock Exchange ( ) has recently issued notices to three hedge funds based in Hong Kong due to concerns over trading irregularities observed in the Indian derivatives market. These actions have raised significant questions about market manipulation and the integrity of trading practices. Here’s a detailed look into the matter:

What Prompted NSE’s Actions?
The NSE identified unusual trading patterns that suggested possible market manipulation. Specifically, there were instances of rapid position reversals and potentially synchronized trading, which caught the regulator's attention.

Sebes Befut Ltd’s Trading Activities
One of the hedge funds, Sebes Befut Ltd, was found to be reversing its trading positions within short timeframes at prices that were significantly different from previous trades. This raised suspicions of manipulation or attempts to influence market prices.

Suspicious Patterns in Other Hedge Funds
The other two hedge funds are suspected of engaging in synchronized trading. This means their trades seemed to be coordinated and executed at predetermined times, which could manipulate the market.

Hedge Funds’ Defense
The hedge funds have defended their activities by stating that their trades were driven by algorithms without direct human intervention. These algorithms, they claim, analyze various data sets to make trading decisions, suggesting no intentional wrongdoing.

Significance for the Indian Derivatives Market
This issue is particularly important because foreign funds, especially those from Hong Kong, play a crucial role in the Indian derivatives market. Any irregularities could undermine market fairness and affect the confidence of domestic retail traders.

NSE’s Regulatory Role
As a first-level regulator, the NSE is responsible for monitoring the activities of brokers, mutual funds, and foreign portfolio investors. Its role is to ensure the integrity of the market and prevent manipulative practices.

Global Regulatory Trends
This situation is part of a global trend where regulators are scrutinizing hedge funds, particularly those from jurisdictions like Hong Kong, known for regulatory flexibility. Similar investigations have been noted in the US, UK, and Singapore.

Impact of Algorithmic and High-Frequency Trading (HFT)
Algorithmic and HFT trading can greatly impact markets by executing large volumes of trades at high speeds. While these strategies can improve liquidity, they also raise concerns about market stability and fairness if not properly regulated.

Notable Legal Cases in the Indian Market
A related case is Jane Street's lawsuit against Millennium Management and its former traders for allegedly stealing secret trading strategies related to Nifty Options. This highlights the high stakes and competitive nature of advanced trading strategies.

Profitability of Advanced Trading Strategies
Jane Street's example illustrates the profitability of sophisticated trading strategies, with the firm reportedly earning $1 billion in profit in 2023 from its proprietary models. This underscores the financial potential involved in such operations.

News source

on Unlisted shares🚀

Invest in Ixigo IPO: A Smart Move?🚀

👉Ixigo, a leading Indian travel tech company, is set to raise INR 120 crore through its IPO. Here’s a quick look at its financial performance, peer comparison, and the pros and cons of investing.

FY23 Financial Performance🔥
Revenue: INR 379.57 crore

Net Profit: INR 56.45 crore

EBITDA Margin: 17.2%

👉Peer Comparison

MakeMyTrip: Revenue of INR 2,363 crore, net loss of INR 230 crore

Yatra: Revenue of INR 329 crore, net loss of INR 58 crore

💯 Ixigo stands out with strong profitability compared to its competitors.

👉Pros of Investing
Strong Financials: Consistent revenue growth and profitability.

Market Position: Leading player with a loyal customer base.

Tech Innovation: Advanced use of AI for personalized travel solutions.💯

Growth Potential: Well-positioned to scale in the growing online travel market.

👉 Cons of Investing
High Competition: Intense market competition.
Economic Sensitivity: Vulnerable to economic downturns and global events.

Regulatory Risks: Potential changes in industry regulations.

Vedanta expects demerger of units to be completed by December 2024

Limited, the metals-to-oil conglomerate, expects the demerger of its units to be completed by December 2024. The company plans to focus on its core businesses, including aluminium, zinc, and oil and gas.

Vedanta aims to streamline its operations and concentrate on its core businesses, such as aluminium, zinc, and oil and gas.

The demerger could potentially lead to increased operational efficiency and a sharper focus on key business segments for Vedanta.

Vedanta has outlined plans to complete the demerger process by December 2024, signaling a strategic move towards restructuring its business portfolio.

Source - Moneycontrol

Q: What unique opportunity does the unlisted market provide for investors?

👉The unlisted market offers investors the opportunity to invest in companies that have not yet gone public. These unlisted shares are not traded on stock exchanges, providing a chance to invest in a company's potential growth in its early phase.

Q: How can investors access unlisted shares?

👉Investors can invest in unlisted shares through direct investment in private companies or by accessing them through alternative investment platforms. Common approaches include private placements, where shares are purchased directly from the company, and investing through Alternative Investment Funds (AIFs), which pool funds from multiple investors to invest in a portfolio of private companies.

Q: What are the potential benefits of investing in unlisted stocks?

👉Investing in unlisted stocks offers the potential for higher returns, as investors can capitalize on the growth of companies in their early stages. However, investing in unlisted stocks requires thorough due diligence and risk evaluation, as the market has fewer regulations compared to listed stocks.

Q: What factors are essential for successful investment in unlisted stocks?

👉Successful investment in unlisted stocks requires investors to have a detailed understanding of market dynamics and the ability to identify companies with solid fundamentals and growth potential. Due diligence and risk evaluation are essential before making any investment decisions in this sector.

Q: What are some notable companies in the unlisted market that investors may consider?

👉Some notable companies in the unlisted market include VCI Chemicals, Proxgy, Urban Tots, Studds Accessories, and Experiential Etc. These companies operate in various industries and offer unique growth opportunities for investors.

Q: What are the key financial performance indicators to consider when evaluating unlisted stocks?

👉Key financial performance indicators include revenue growth, profitability, order book value, market traction, and future growth potential. Investors should analyze these metrics to assess the financial health and growth prospects of unlisted companies before making investment decisions.

Q: How does the unlisted market compare to the listed market in terms of investment opportunities and risks?

👉The unlisted market offers investors the opportunity to invest in companies in their early stages, potentially offering higher returns. However, it also carries risks such as less regulation, limited liquidity, and higher volatility compared to the listed market. Investors should carefully weigh these factors before investing in unlisted stocks.

Q: Top 5 best shares to invest in the Unlisted market?

👉 1. VCI Chemicals, 2. Urban tots, 3. Proxgy, 4. Studds accessories, 5. Experiential Etc.

💰Unveiling the Distinctions and Delights of SME IPOs versus Small Caps💰

Q: What sets SME IPOs apart from Small Caps in terms of investment potential?

👉SME IPOs offer an entry point into burgeoning businesses seeking capital for expansion, while Small Caps represent publicly traded companies with smaller market capitalizations. SME IPOs may promise higher growth potential due to their early-stage status, while Small Caps provide established entities with growth prospects.

Q: How do historical performances of SME IPOs compare to Small Caps?

👉Analysis reveals that SMEs have consistently outperformed benchmarks like the Nifty 50 and Nifty Small Cap 100 in terms of Compound Annual Growth Rate (CAGR). However, Small Caps have shown slightly higher growth rates both in absolute terms and CAGR over the years.

Q: Can you name some standout performers among Small Cap stocks in recent times?

👉Notable Small Cap performers include Insolation Energy Limited, Knowledge Marine & Engineering Works Limited, Advait Infratech Limited, BEW Engineering Limited, and Kotyark Industries Limited. These companies have demonstrated substantial absolute gains and Compound Annual Growth Rates since their listing.

Q: What are the key benefits of investing in SME IPOs?

👉Investing in SME IPOs presents the opportunity for significant financial appreciation, support for entrepreneurial ventures, job creation, and contribution to economic development. However, it's important to acknowledge the associated risks such as brief operational histories and heightened volatility.

Q: How do Small Caps differ from SME IPOs in terms of risks and challenges?

👉Small Caps may face greater vulnerability to market fluctuations and liquidity constraints compared to SME IPOs. Moreover, operational challenges and limited analyst coverage pose distinct risks to investing in Small Caps, necessitating thorough due diligence.

Q: What strategies should investors consider to maximize returns from both SME IPOs and Small Caps?

👉Investors should prioritize comprehensive research, risk management through diversification, a long-term perspective, active monitoring of investments, and seeking professional advice. Employing these strategies can help optimize returns and navigate the opportunities and challenges presented by SME IPOs and Small Caps.

Tata Motors to restructure NBFC arms with Tata Capital for streamlined operations🚀🚀

Q: What is the latest development involving Tata Motors and Tata Capital?

👉Tata Motors is restructuring its NBFC arms in collaboration with Tata Capital to streamline operations.

Q: What is the purpose of this restructuring?

👉The restructuring aims to enhance operational efficiency and optimize resources within Tata Motors' NBFC arms.

Q: What are the benefits expected from this restructuring?

👉The restructuring is expected to result in improved synergy between Tata Motors and Tata Capital, leading to more streamlined operations and potentially increased financial performance.

Q: How does this development impact Tata Motors' overall business strategy?

👉This strategic move aligns with Tata Motors' broader business strategy of optimizing its organizational structure and strengthening its financial services arm to better serve its customers and stakeholders.

Q: Where can I find more information about this restructuring and other related developments?

👉You can find more information about this restructuring and other related developments on Planify's news feed.

IPO-bound Companies, Including Mobikwik, Encounter Approval Delay Due to Deemed Public Issue Hurdle

Q: What regulatory hurdles are causing a delay in approval for Mobikwik and other IPO-bound companies?

👉Regulatory hurdles related to deemed public issues are causing a delay in approval for Mobikwik and other companies planning to go public.

Q: How has Mobikwik established itself in the digital payments industry?

👉Mobikwik, founded in 2009, has emerged as one of India's premier digital payment platforms, offering a wide range of financial services to millions of users across the country.

Q: What impact does Mobikwik's delay in IPO approval have on its plans?

👉The delay poses a setback for Mobikwik's plans to tap into the capital markets through its IPO.

Q: Why are investors and industry experts closely watching Mobikwik's IPO plans?

👉Mobikwik holds a prominent position in the fintech sector, and its IPO is expected to provide investors with an opportunity to participate in India's growing digital economy.

Q: What strengths does Mobikwik possess despite the regulatory challenges?

👉Mobikwik boasts impressive financials and a strong market presence, as highlighted in Planify's research report on the company.

Q: What is the outlook for Mobikwik's IPO journey?

👉As Mobikwik navigates through the regulatory approval process, investors and stakeholders are eagerly awaiting further updates on the status of its IPO.

in Pre IPO shares Update:

Waaree Energy Unlisted shares

👉Partnership Announcement: Waaree Energies has partnered with Ecofy to offer financing solutions for solar rooftop projects.

👉Financial Commitment: Ecofy is investing Rs 100 crore into the partnership, demonstrating confidence in Waaree's capabilities and the potential for growth in the renewable energy sector.

👉Objective: The initiative aims to accelerate the adoption of solar energy by facilitating the installation of solar rooftop systems on over 10,000 households and MSMEs (Micro, Small & Medium Enterprises).

👉Impact: By providing financing options, the partnership makes solar energy more accessible to a wider range of consumers, contributing to the expansion of renewable energy infrastructure.

👉Long-term Goal: The collaboration between Waaree Energies and Ecofy aligns with the broader objective of promoting sustainability and reducing carbon emissions through the widespread adoption of solar power.

Read the research report of : https://www.planify.in/research-report/waaree-energies-ltd/

Waaree Energies Pre IPO Review & Analysis | Waaree Energies IPO | Planify

Dive deep into the pre-IPO analysis of Waaree Energies Ltd Unlisted Shares, India's leading solar giant!

Understand the booming solar power situation in India and Waaree's position within it. We also talk about Waaree Energies IPO as they have recently filed for it. Connect with Planify Capital if you're interested in buying Pre IPO & unlisted Startup shares.

Watch full video: https://youtu.be/kr7fZj0Zcno

on Unlisted shares News Insights🚀🚀

1⃣ Chipmaker Polymatech chalks out $2.5 billion revenue by FY26

👉Polymatech Electronics aims for a revenue of $2.5 billion (approximately Rs 20,000 crore) by FY26, driven by increased production capacity.

👉CEO and Managing Director Eswara Rao Nandam highlighted the surge in demand for energy-efficient lighting solutions like LEDs in various sectors such as automotive, consumer electronics, and infrastructure.

👉The company also anticipates a rise in semiconductor solutions demand for medical applications and horticulture, contributing to its revenue growth.

👉Currently, Polymatech Electronics holds an order book of Rs 7,000 crore, entirely from exports, slated for ex*****on over the next two years.

👉In FY24, the company witnessed substantial growth with an 85% year-on-year increase in revenue to Rs 1,200 crore, while net profit surged by 64% to Rs 275 crore.

2⃣ Note on NSE by Planify Capital in context of BSE's increase in transaction charges on BSE Sensex Options & BSE Bankex Options which got effective today i.e. 13th May 2024.

👉NSE has reduced lot sizes in option segment recently and has decreased the transaction charges by 1%, with this move and with the rise in transaction charges by BSE, NSE is expected to gain its lost market share to BSE in index options segment and increase the turnover in the option segment and hence the revenue of the company.

3⃣ Meesho closes $275 Million funding in first tranche and in talks for more

👉Meesho, an e-commerce firm based in Bengaluru, has concluded a funding round of $275 million.

👉The funding comprises a combination of primary and secondary share sales.

👉This $275 million marks the initial tranche of a larger financing round totaling $600 million.

👉Meesho is currently in discussions to finalize the broader round, aiming for a valuation of up to $3.9 billion.

👉The details regarding valuation will be finalized once the entire round is completed.