Tech3 | Sebi greenlights Firstcry, Unicommerce IPOs; F & O worries for Zerodha, Groww; and more

One quick thing:? Digital India Bill likely to be delayed, government may opt for urgent sector-specific laws

In today’s newsletter:?

• Sebi greenlights Firstcry, Unicommerce IPOs?
• Lydia ‘Jetts’ back to Flipkart
• F and O worries for Zerodha, Groww

Sebi greenlights Firstcry, Unicommerce IPOs? The number of new-age companies lining up to go public is growing by the day.?

While many have crossed the finish line in the past months (re: Digit, Awfis, ixigo and more), two more firms got closer today. Tell me more: FirstCry and Unicommerce secured SEBI approval to go ahead with their respective planned public listings.

• FirstCry, which first filed its draft papers in December last year, is preparing for a $500 million (around Rs 4,163 crore) IPO?
• Unicommerce on the other hand is a purely offer for sale (OFS) IPO worth Rs 490 crore

Hurdles on path to IPO: For the new-age companies, both backed by Japanese tech investor SoftBank, the road to IPO was a slightly bumpy one.?

• SEBI asked FirstCry to refile its papers with more disclosures and updated financials?
• Meanwhile, SoftBank was tagged as a promoter in Unicommerce, which would increase compliances, we had reported last month?

What gives? The two companies however managed to weather the storm and are enroute to become the latest VC-backed company to go public.?

• FY25 has seen six venture capital (VC)-backed listings so far, with at least ten more in the works?
• Leaving enough value on the table has worked in favour of these startups. This includes pricing the IPO right and giving every investor a chance to make money?

Companies that grew by over 30% and improved their margins by 4% have seen the largest gains since 2023.?

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Cheers,

Vikas SN