Tarsons Products IPO Shares Allotment Status Is Out Now! See How To Check Your Status

Tarsons Products IPO

Tarsons Products IPO, which was offered for subscription from November 15 to November 17, seemed to have an overwhelmingly positive response throughout the period. Following that, Tarsons Products has announced today that the company has finalized its Rs 1023.47 crore initial public offering (IPO) allocation.

As part of Tarsons Products IPO, the company raised Rs 1,023 crore. The Tarsons’ IPO included a new issuance of Rs 150 crore and the rest was raised via an offer for sale by selling stockholders. Subscriptions to the Qualified Institutional Buyer (QIB) reserved quota reached a subscription of 115.77 times, while the Non-Institutional Investor (NII) reserved quota was subscribed 184.54 times, Retail Individual Investor (RII) was subscribed 10.56 times, and the Qualified Institutional Buyer (QIB) reserved quota received 1.83 times subscriptions.

Tarsons Products’ shares, on the other hand, were selling on the Grey Market at Rs 812, with a premium of Rs 150, which increased to Rs 170 after a period of trading. The grey market is an unauthorised marketplace where IPO shares are traded beginning with the announcement of the price band and continues until the shares are listed on the stock exchanges.

“As can be seen by grey market premium, this is an appealing firm that is offered at a fair value and has the potential to earn a 30 percent listing premium. Tarsons’ future prospects, on the other hand, will be tied to the pharmaceutical business, which is now experiencing a slowdown ” says Wright Research founder Sonam Srivastava, who is also its CEO.

Also Read: Purplle plans to go for an IPO in 3 to 4 years: Co-founder

Tarsons Products is an Indian labware company that designs, manufactures, and supplies high-quality labware equipment and consumables to research institutions, including Dr Reddy’s Laboratories, Agappe Diagnostic, the Institute of Chemical Technology, the Metropolis Healthcare System, the National Centre for Biological Sciences, Dr Lal Path Laboratories, the Molbio Diagnostics Corporation, and Syngene International, among others. Tarsons Products manages its operations through its five manufacturing facilities in West Bengal.

After Tarsons Products IPO, the company is expected to list on the Bombay Stock Exchange and the National Stock Exchange on November 26. Based on the significant grey market premium, good financials with healthy ratios, and great growth potential in the longer term, Stocks Experts predict that the company will list on the BSE and NSE at a 20-30 percent premium to the issue price.

Bidders who are keen to find out whether they have been allotted Tarsons Products IPO shares or not can now check their share allocation status either on the BSE’s official website or on the website of Kfintech Pvt Ltd, the company that handled the company’s initial public offering.

Also Read: Delhivery files DRHP for IPO with SEBI, issue size of Rs 7,460 crore

Check Tarsons Products IPO (Initial Public Offering) allocation status on the BSE website.

  1. Bidders who submitted applications for the Tarsons Products Initial Public Offering (IPO) may check the progress of their applications by logging onto the BSE official website through the URL bseindia.com/investors/appli check.aspx.
  2. After login onto the BSE’s official website, go to the Tarsons Products Initial Public Offering (IPO).
  3. Provide your IPO application number in the following field.
  4. The site will then ask you for your PAN card information; provide your PAN number in the exact forma
  5. Confirm that you are not a robot by completing the captcha.
  6. Finally, click on the ‘submit’ button to complete the process.
  7. The application status of your Tarsons Products will be shown on your computer’s display screen.

Check Tarsons Products IPO (Initial Public Offering) allocation status on the KFintech website.

  1. Log onto the KFintech website using this direct URL – kprism.kfintech.com/ipostatus/
  2. After signing in, pick Tarsons Products IPO from the drop-down menu.
  3. You will be asked to provide information such as your Application Number, DPID/Client ID, or PAN card number. You have the option of selecting any of these.
  4. Fill out the form with the specifics of your desired option from the previous step.
  5. Complete the Captcha information.
  6. After that, click on the ‘Submit’ button.

E-commerce Giant Flipkart Acquires SastaSundar.com At Undisclosed Price, Enters Crowded Health Care Sector With The Deal

sastasundar

Flipkart, India’s biggest e-commerce platform, intends to enter the online pharmacy business with the purchase of sastasundar.com, according to reports. Flipkart formally announced that it has entered into an agreement with sastasundar.com to buy most of the shares in the online platform specializing in prescription-based drug delivery.

Kolkata-based SastaSundar is an eight-year-old firm with a market capitalization of $125 million at its most recent valuation. Following the acquisition of many e-pharmacy sites by big Indian conglomerates, Walmart-owned Flipkart has become the latest to join the frenzy. Reliance Retail Chain, the biggest in India, had recently acquired NetMeds, and the Tata Group had also made investments into the 1mg pharmaceutical company in June 2021.

Until recently, the Indian e-pharmacy industry has remained mostly untouched. The outbreak of the corona pandemic provided a sense of urgency and a broad range of opportunities for e-pharmacy. When you consider that India is a large nation, it is interesting to note that e-pharmacies account for barely 5 percent of the pharmaceutical business.

Also Read: Acko raises new funds, valuation jumps to $1.1 billion

With the purchase of SastaSundar, Flipkart hopes to acquire a considerable proportion of the customers who depend on online pharmacies. However, the e-commerce behemoth did not disclose the amount it paid to acquire the Kolkata-based e-pharmacy startup. Sastasundar Marketplace Limited, which owns and operates SastaSundar.com, an online pharmacy, and digital healthcare
the platform will be operating as a flagship of Flipkart Health+ – a new venture of Flipkart for dealing with the online pharmacy business.

SastaSundar has a network of more than 490 pharmacies spread over India, on which they depend and from which they get genuine medicines for their customers. This company’s mission is to solve the difficulties of access to affordable and high-quality healthcare in India by supplying original items from approved sources and distributing them across the nation. SaastaSundar.com offers customers complete solutions for a wide variety of healthcare issues by using artificial intelligence and data analytics technologies and merging them with personalized counseling provided via its network.

Using the combined assets of the Flipkart Group, which include its pan-India reach and technical skills, together with SastaSundar’s deep experience, Flipkart Health+ will be able to give customers an end-to-end service in the pharmacy technology ecosystem, according to the company.
As stated in the release, “it would attempt to provide millions of Indian customers access to high-quality and affordable health care, as well as novel healthcare services like e-diagnostics and e-consultation.”

Also Read: Adani Group Acquires Minority Shares In Cleartrip, Both Parties Expect Bolstered Synergy

While the Flipkart Group’s efforts to address the growing consumer internet ecosystem have been successful, this new venture builds on those efforts by providing end-to-end offerings ranging from travel to healthcare at a time when digital technologies continue to democratize access to products and services.

What Flipkart Expects From Sastasundar Acquisition?

“The consumer internet ecosystem in India is proliferating as consumers recognize the opportunities and convenience that digital adoption is enabling in their lives. With growing awareness and focus on health amplified by the pandemic, there is a big opportunity and demand for affordable healthcare and ancillary offerings,” Ravi Iyer, Senior Vice President and Head -Corporate Development, Flipkart, said in a statement on the development.

As a result of our investment in SastaSundar.com, a firm that has established itself as a trusted partner for lakhs of customers via authentic items, a technology-powered platform, and an extensive network, we are thrilled to join this area. Together with our dedication to prioritizing our customers’ requirements, the synergies between the Flipkart Group and SatsaSundar.com will enable us to grow and change online healthcare in India.”

Amazon, another e-commerce behemoth in India and a direct competitor to Flipkart, has also begun delivering prescription-based medicines via its online marketplace. The service, on the other hand, was exclusively available in Banglore.

Also Read: Instagram’s latest feature allows users to add music to their feed posts in India, Turkey and Brazil

Nykaa Shares Still On Fire On Day 2! More Details Inside – Falguni Nayar Background, Nykaa’s Association With Katrina Kaif And More

Nykaa Shares Still On Fire! More Details Inside - Falguni Nayar Background, Nykaa's Association With Katrina Kaif And More

Nykaa shares received an unprecedented welcome on Stock Market. The fashion and personal care segment company debuted on the Bombay Stock Exchange and National Stock Exchange on 10 November with a 96 percent premium to its face value set at Rs 1125 apiece.

Nykaa had opened up its three-day-long Initial Public Offering (IPO) for its shares on 28 October 2021. As per the data published on BSE, the share allotment reserved for Non-Institutional Buyers (NIB)/ witnessed a subscription of 112 times, while the fraction of Nykaa shares reserved for Qualified Institutional Buyers received a subscription of 91.8 times. Also, employees subscribed to the Nykaa shares reserved for employees 1.88 times. Before the official listing of Nykaa on the stock exchange, it was also trading in Grey Market with a premium of Rs 570.

The market value of Nykaa shares has risen to Rs 1,04,438.88 crore after its listing on the stock exchange. Overwhelming response to the IPO and day one of Nykaa’s listing have helped the etailer company surpass the market capitalization of a few leading companies, including Godrej Consumer Products and Britannia Industries. Godrej Consumer Products has a total market capitalization of Rs 99,916 crore, while Britannia Industries has Rs 89,051 in market capitalization.

Cosmetics and personal care had remained an undervalued industry, albeit with 20 percent contributions to the e-commerce sector. With the launch of Nykaa, Falguni Nayar has endeavored into something that was neglected or, say, something that was given less importance.

Make-up is not just a means for looking presentable but also a way of wearing your opinion. Falguni Nayar has, therefore, facilitated India’s populace a medium to find beauty and personal care products regardless of their gender. Nykaa has more than 1.8 million products on the platforms, including various premium to mid-range brands. Nykaa also manufactures some beauty products under its label.

Success ladder of Nykka

Falguni Nayar founded Nykaa in 2012 on a bootstrapped basis. In an interview three years ago, she said that it was not difficult for her to explore funding opportunities. Still, she wanted to carve a unique identity of Nykaa before she would decide to approach the investors.

For the first two years, Falguni Nayar and her husband bore the company expenses on their savings. Falguni Nayar managed to bring substantial growth to Nykaa by the end of the second year.

Nykaa bagged its first investment from angel investors two years later, in 2014. The series A round of funding fetched Rs 20 crore to the company. Some of the early investors in Nykaa included Indra Banga and Harindarpal Singh Banga. The market valuation of Nykaa after receiving the first investment has touched Rs 120 crore. Nykaa shares price was Rs 97.4 apiece.

A year later, in July 2015, Nykaa received another Rs 59.6 crore in funding from TVS Capital, heightening the company valuation to Rs 500.7 crore.

After a gap of four years, the company managed to bag Rs 100 crore in a Series E round of funding. The market capitalization of Nykaa at that time was inflated to Rs 5,713 crore. TPG Growth was the leading investor in Nykaa in the Series E funding round in March 2019. Nykaa shares price in 2019 March was Rs 3,530 apiece.

Nykaa, in March 2020, had a moment to celebrate when it turned into a unicorn company. Nykaa received Rs 166.6 crore in funding from Steadview Capital in a Series E3 round. After the E3 round of funding, the total market capitalization of Nykaa had settled to Rs 10,140 crore.

Nykaa has shown tremendous growth in a short period. For some time, the company had reported a loss during the corona pandemic. But Nykaa managed to scale up its growth rapidly in the post-pandemic time.

According to the close observers of the online shopping platform, tire II and III cities are playing a seminal role in boosting the company’s profit chart. Nykaa has also published a report stating tier II and III towns have contributed 64 percent of their revenue in 2021 compared to 59 percent in 2020. While the share price of Nykaa increase to Rs 6,569.

Followed by the constant growth in Nykaa, the networth of Falguni Nayar has also increased to $7.4 billion over time. She is also counted in the top 20 richest Indian billionaires.

Who Is Falguni Nayar?

Falguni Nayar is an Indian Institute of Management Ahmedabad alumni working as a banker before she founded Nykaa – a content-based e-commerce platform founded in 2012. She spent a significant part of her career working in Kotak Mahindra Capital Co. She was also deployed in the bank as the managing director and was leading institutional equity business. Falguni Nayar hails from Gujrat. Her father owned a bearings firm.

How is Katrina Kaif associated with Nykaa?

Katrina Kaif With Falguni Nayar And Her Daughter Adwaita Nayar

Katrina Kaif’s presence in Nykaa’s stock market bell-ringing event was confusing for many people. For the uninitiated, Katrina Kaif has a tie-up with Nykaa and is one of the company’s investors.

Nykaa, in association with Katrina Kaif, has formed a beauty brand called Kay Beauty. Katrina Kaif is the co-owner of Kay Beauty and plays an instrumental role in branding and formulating growth strategies.

Speaking to NDTV about Katrina Kaif’s presence to the bell ringing event, Falguni Nayar said: “Conjointly with Katrina Kaif, we own a brand called Kay Beauty. It is a brand that we founded together and she has helped us significantly in building the brand. She is co-owner and also designed the brand we are building together. She is a business partner of Nykaa and so she was here today.

Alia Bhat, Bollywood actress and daughter of Mahesh Bhatt, is also an investor in Nykaa.

Should you invest in Nykaa Shares?

Nykaa is a content-based e-commerce platform that deals in cosmetics and personal care products; some of them are self-manufactured by Nykaa.

Brokerages gave a positive response to Nykaa’s stock listing and suggested subscribing to the stock. Santosh Meena, head of research at Swastika, commented on Nykaa’s long-term performance of the stock exchange: we expect a surge in Nykaa’s stock for the next 1 2 days. Then it might settle down for some time. Nevertheless, Rs 2000 could perform as a support level in the near future. Aggressive investors can hold the stock for the long term, he suggested further.

What does Nykaa mean?

Nykaa is the word derived from its Sanskrit namesake ‘Nayaka,’ which means a heroine, or the one becomes a center of attraction.

4 big IPOs to look out for in 2022

IPOs (initial public offerings) have generated a lot of buzz in recent months. non-public businesses and startups looked to profit on the positive capitalist sentiment within the market.
Over forty companies launched their IPOs in 2021 (until September) raising over ₹700 bn.
Around thirty more are probably to come out with their IPOs within the October-December quarter as well as fintech big Paytm, and insurtech firm Policybazaar.

Most of those IPOs are profitable for investors and are trading on top of their issue value.

For instance, the stock of home health care and wellbeing product maker Nureca has surged over 300 percent to  ₹1,738 from its issue value of  ₹400.

The stock of Paras Defence has rallied over 380% to  ₹846 from its issue value of  ₹175 per share.

If the market momentum continues and therefore the liquidity remains high, then the remaining IPOs may witness strong demand.

This momentum is predicted to be carried into the New Year as well. Here are four IPOs to appear forward to in 2022.

#1 life insurance Corporation of India (LIC)

State-owned life insurance Corporation of India is anticipated to come out with its IPO sometime within the fourth quarter of the fiscal year 2021-22.

The ipo is expected to be India’s biggest-ever initial public offering with the govt. selling a stake of 5-10% within the insurance company.

The listing are going to be crucial for the govt. to fulfill its withdrawal target. It’s estimated that this ipo would fetch the government the govt. bn and ₹800 bn.

LIC is India’s largest life insurer, with substantial money reserves and a long history of trust.

It’s additionally the foremost profitable company owned by the govt.. consistent with a media report, the insurer created a stock market profit of around ₹100 bn just between april and June 2021.

LIC additionally features a large market share of 49.8%. The remaining twenty three private companies like HDFC Life and ICICI prudential life insurance have the remaining 50.2% share.

As per media reports, a ministerial panel dubbed, the ‘alternative mechanism on strategic divestment’, can select the size of the stake to be sold . It’s probably it’ll not be over 10 percent.

Other details like the value band, the grey market premium, exact issue size and face price of the IPO are yet to be disclosed. it’s also unclear what the precise dates of the IPO are going to be as of now.

That apart, the govt. is considering a proposal for foreign investors to own as much as twenty percent in LIC, which might enable them to participate within the nation’s biggest IPO.

It’s discussing a plan to amend foreign direct investment (FDI) rules in order that investors will acquire the stake without the government’s approval under the so-called automatic route.

No matter what happens, this can be this is be the defining IPO event of 2022.

#2 Byju’s

India’s most beneficial startup, online education supplier Byju’s, is also in talks to lift money via an IPO next year.

It plans to raise between US$400 m to US$600 m.

The Bangalore-headquartered company is predicted to shut its pre-IPO fundraise during a few weeks at a valuation of about US$21 bn. It’s probably to be split roughly evenly between equity and debt.

Byju’s aims to file its initial IPO documents as early because the second quarter of next year, shortly after the close of its fiscal year in March.

It had previously looked at a timeline of twelve to twenty four months after the fundraise.

As per reports, the startup and its bankers are discussing a valuation of US$40 bn to US$50 bn. Byju’s was valued at US$18 bn in its latest round last month, up from US$16.5 bn in june 2021.

The online education startup has prominent international investors as well as Facebook founder Mark Zuckerberg’s Chan-Zuckerberg Initiative, Naspers, Tiger global Management, and private equity giant Silver Lake Management.

Its bankers include Morgan Stanley, Citigroup, and JPMorgan Chase.

Byju’s has been on an acquisition binge in the past year, getting startups offering coding lessons, professional learning courses, and check preparation classes for competitive Indian exams.

The company added forty five m students to its platform in India last year. It had more than one hundred m users on the app in July 2021. Of these, 6.5 m were paid subscribers.

The company said that it’s targeting ₹100 bn (US$1.4 bn) revenue within the fiscal year 2022, with a twenty percent gross margin.

#3 Ola

Ride-hailing an ola is additionally exploring a public an early next year with associate aim to raise a minimum of US$1.5-2 bn.

This values the Bengaluru-based unicorn at US$12-14 bn.

The company can raise half the capital through a primary issue whereas the remainder the rest through a suggestion for sale (OFS).

Unlike most startups, ola is profitable.

The company reported a standalone operative profit of ₹898 m for the twelvemonth 2021 versus a loss of ₹6.1 bn a year ago.

Despite revenue down sixty fifth from a year ago due to the pandemic, ola turned a profit, helped by aggressive value cuts and a reduction within the workforce.

Earlier last month, ola raised US$500 m in what could be termed a pre-IPO round. private equity companies, Warburg pincus and Temasek Holdings invested with, along with 2 others.

Ola additionally recently declared the acquisition of GeoSpoc, a six-year-old Pune-based geospatial company. With GeoSpoc, the company is looking at building ensuing generation of location technology for the world.

#4 Delhivery

Adding to the list of tech firms that plan to list next year is logistics company Delhivery.

The company plans to raise US$400-US$500 m via its IPO.

It has already filed its draft red herring prospectus (DRHP) with the market regulator.

The issue size of the IPO is predicted to be around ₹74.6 bn of that ₹50 bn are going to be via a recent issue and ₹24.6 bn from an offer for sale.

Existing shareholders that conceive to sell their stake are China Momentum Fund (Deli CMF) – ₹4 bn, carlyle – ₹9.2 bn, SoftBank – ₹7.5 bn, and Times web – ₹3.3 bn.

The likely valuation expected by the corporate via the issue is around US$5.5 bn.

The company plans to use the takings for funding organic growth initiatives and for funding inorganic growth through acquisitions and alternative strategic initiatives.

Delhivery recently signed an agreement to acquire a 100 percent stake in rival express logistics player Spoton logistics.

The company additionally issued bonus shares to its shareholders through a resolution passed at its Extraordinary General Meeting (EGM) persevered twenty nine September 2021.

The IPO market is booming in India will the trend continue?

Following the recent correction, the Indian stock market is still currently trading high and IPOs are attracting some wild valuations.

Given the abounding liquidity, the market regulator easing listing procedures and overall optimistic sentiments, the initial public offering craze is understandable.

Data suggests that companies raised funds to the tune of US$4.6 bn from IPOs last year. many believe this amount are going to be easily surpassed in 2021.

As corporations line up to raise funds from the market amid high valuations, investors need to think about several factors before investing their money in an IPO.

If you’re investing in an IPO, weigh in all the positive and negative factors affecting the corporate.

Mahindra & Mahindra Gears Up To Launch 16 EVs By 2027, Looking 10x Growth, Investors And Their Expertise

Mahindra & Mahindra Gears Up To Launch 16 EVs By 2027, Looking 10x Growth, Investors And Their Expertise

Mahindra & Mahindra, one of the early adopters of Electric Vehicles, has said that it was open to accepting new fundings from the investors to bolster its pollution-free vehicle manufacturing business. The demand for electric vehicles has been gaining momentum across the world for a couple of years, especially after Elon Musk’s Tesla car is doing round of the news.

Anand Mahindra-owned car manufacturing company is setting an aim to introduce 16 new electric vehicles before 2027. The new line of electronic vehicles will include eight cars from the sports utility vehicles category and the remaining cars from the light commercial vehicles category. Additionally, the car-making company is exploring investments opportunities in their farm machinery business.

Mahindra & Mahindra Group is optimistic about supercharging its farm machinery business up to 10 folds and boosting its revenues to Rs 5000 crore by the end of 2027.

Anish Shah, managing director at Mahindra & Mahindra, said that they are working on many bold strategies to bring in growth in numerous segments, including electronic vehicles and farm machinery.

Consequently, we are now willing to explore external funding sources that will enable us to grow more rapidly in many of the areas listed above. Nevertheless, it’s not just about the investment infusion, and the investors can also bring in their expertise.

Tata Motors, last month, received $9.1 billion in funding for its electronic vehicles segment. Several other businesses, including TVS and Bajaj Auto, are also forming up their subsidiaries, with one of the intentions to raise funds.

Investors across the world are aggressively looking for opportunities in the hope of inventing an electric vehicle as successful as the Tesla car. One reason for this might be the unbelievable returns of more than 1600 percent Tesla witnessed in less than two years. No doubts, such kind of high returns can allure any investor.

Mahindra & Mahindra aims to infuse more than Rs 3000 crore into its electronic vehicles business by the end of the fiscal year 2024. As part of the car-making company’s efforts to get back to the top of India’s electronic vehicles business, the infused money will be burnt on building its new product line.

These investments are not yet ascertained when they will be infused. The value of our electric vehicle manufacturing business will depend on bagging the best deal possible, Ashish Shah said further.

In addition, Anish Shah emphasized that the farm machinery business was a nascent segment in India and had room for growth. According to him, the farm machinery market is twice the size of the tractor market.

Overall Performace Of Mahindra & Mahindra Group

Mahindra & Mahindra showed a tremendous increment in the third quarter of 2021. The group’s net profit bounced up to Rs 1243 crore from Rs 162 crore year on year. On the other hand, Mahindra & Mahindra group’s revenue also jumped up by 15 percent from Rs 11,590 to Rs 13,305 crore. Auto volumes of the car-making company also showed a growth of 9 percent, while tractors sales saw a downfall by 5 percent.

Zoomcar raises $92 million led by NYC-based SternAegis Ventures

Zoomcar

Car sharing startup Zoomcar on monday said it has raised $92 million in an exceedingly non-public placement LED by New York-based SternAegis Ventures with participation from international family offices and institutional investors.

SternAegis acted because the exclusive placement agent for this providing and ThinkEquity acted as special authority.

How Will Zoomcar Utilize The Funds?

the car sharing company intends to use the issue from this funding to grow its automobile sharing marketplace in Bharat and markets across Asia and therefore the MENA region.

It same it’ll still invest in its advanced engineering and knowledge science platform enabling it to strengthen its market leadership in world automobile sharing.

It expects to extend investments across IoT, machine learning, and laptop vision connected applications.

The company additionally plans to considerably strengthen its enterprise software package offerings to original instrumentality manufacturer (OEMs) and insurance firms.

The car sharing company recently dilated across South-East Asia and therefore the MENA region to form a worldwide automobile sharing platform.

“This eminent crossover funding may be a milestone for Zoomcar as we have a tendency to enter consecutive part of our international growth and position the corporate to enter the general public equity markets”, same Greg Moran, co-founder and chief officer (CEO) of the car sharing company.

Adam Stern, CEO of SternAegis Ventures commented, “the car sharing company sits at the intersection of many powerful world trends across urban quality.

At SternAegis, we’re delighted to support the spectacular Zoomcar team in fulfilling their vision of making the simplest automobile sharing expertise across the world’s quickest growing, most dynamic markets.”

Zoomcar launched India’s initial automobile sharing platform in 2013, and these days has close to ten,000 cars on its platform and a presence across Asia and therefore the MENA region. Zoomcar permits people to rent from a various pool of cars by the hour or by the day.

Tata Power achieves milestone of over 1000 EV Charging stations across India

Earlier this month, Tata Power and TVS Motor Company, one of the leading manufacturers of two-wheelers and three-wheelers globally, signed on a strategic partnership to drive the comprehensive implementation of Charging stations – EVCI across India and deploy solar power technologies at TVS Motor locations.

The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India. Tata Power has touched a new milestone with now having a network of more than 1000 Electric Vehicle (EV) charging stations across the country.

The company’s stock was trading on a bullish note on Tuesday. At around 11.34 am, Tata Power was trading at Rs.227.55 per piece up 6.5% on Sensex.

The stock has jumped nearly 9% with an intraday high of Rs.232.40 per piece in the early deals of the same index.

This network of 1000 public EV charging stations provides innovative and seamless EV charging experiences for Tata Power’s customers across Offices, Malls, Hotels, Retail Outlets, and places of public access, enabling clean mobility and freedom from range anxiety.

Additionally, there are close to 10,000 home EV charging points, which make EV charging super-convenient for vehicle owners.

Tata Power EZ Chargers ecosystem covers the entire value chain of Public chargers, Captive chargers, Bus/ Fleet chargers and Home chargers.“We have started the first of our many milestones towards enabling the EV revolution in the country through the successful deployment of over 1000 EV charging points in the public domain.

This makes Tata Power the country’s largest EV charging solutions provider. Our innovative and collaborative approach has made a significant impact in developing this ecosystem and encouraging EV adoption in the country. We remain committed to playing a key role along with other stakeholders in achieving the national goal of transition to green mobility,” said Dr Praveer Sinha, CEO & MD, Tata Power.

Right from the first chargers that were installed in Mumbai, Tata Power EV charging points are now present in nearly 180 cities and in multiple State and National highways under various business models and market segments.

The Company is planning to have a base of 10,000 Charging Stations as also to enable whole stretches of highways into e-highways across the length and breadth of the country with the increase in Electric Vehicle adoption, the company has also expanded its footprint into the electric 3-wheeler and 2-wheeler charging market.

Earlier this month, Tata Power and TVS Motor Company, one of the leading manufacturers of two-wheelers and three-wheelers globally, signed on a strategic partnership to drive the comprehensive implementation of EVCI across India and deploy solar power technologies at TVS Motor locations.

The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India.

Tata Power has collaborated with Original Equipment Manufacturers (OEMs) to roll out EV charging infrastructure and aims to expand its presence further in many cities of India.

It has partnered with Tata Motors Limited, MG Motors India Limited, Jaguar Land Rover, TVS & more, for developing EV charging infrastructure for their customers and dealers.

16 month old Teachmint raises $78 mn at reported $500 mn valuation

As innumerous Indian edtech startups populate their catalogs with live and recorded courses to realize and serve students at intervals the world’s second-largest internet market, a number of new-age firms ar commencing to explore fully completely different approaches to tackle the challenge.

Teachmint, one such startup that is serving to teachers and institutes turn out their own virtual faculty rooms with some of taps on their smartphones and build direct relationship with students, has raised $78 million in its Series B funding spherical, TechCrunch has learned and confirmed.

Rocketship.vc and immortal Capital co-led the new spherical, the startup same on Mon. The new spherical values the 16-month-old Indian edtech firm at $500 million, in step with two of us reception with the matter. (Teachmint has raised over $115 million to the current purpose.)

Mihir Gupta, co-founder and chief govt of Teachmint, confirmed the scale of the new funding spherical throughout a text message, but declined to debate the valuation. Goodwater Capital and Epiq Capital what is more as existing investors Learn Capital, CM Ventures, Lightspeed Republic of India and better Capital to boot participated at intervals the spherical, he said.

The new investment comes months once the startup was approached by one in each of the two Indian edtech giants that offered Teachmint a $400 million acquisition price, in step with three sources reception with the matter. Teachmint declined the availability. Gupta declined to comment.

The startup, that began its journey merely weeks once the pandemic poor, is building what it calls the “ed-infra” for teachers in Republic of India to help them take on-line classes, interact with students nearly, assign them tasks, conduct attending and to boot collect fees.

This approach is totally completely different from edtech giants like Byju’s, Unacademy and Vedantu, where teachers don’t have a right away relationship with their students.

And Teachmint’s model is functioning. The startup has concentrated over 10 million users at intervals the country, it said. It to boot offers its ed-infra service to institutes and same over four,000 such institutions in Republic of India and overseas ar victimization it.

At stake is India’s on-line education market with over 2 hundred million school-going kids. The market is calculated to induce $5 billion in revenue by 2025 (up from concerning $1 billion last year), in step with analysts at Goldman Sachs.

“Since origin, we have got been laser-focused on addressing the huge technology-infrastructure gap that exists in education. Over the past sixteen months, we have got been broken by the experience of powering the teaching and learning infrastructure for immeasurable teachers and students across Republic of India,” same Gupta.

“From supporting individual teachers to powering K-12 colleges, work institutes, colleges, universities and even edtechs, we have a tendency to tend to ar disrupting technology penetration in education at academic degree new pace. we have a tendency to tend to ar excited to welcome aboard Rocketship.vc and immortal Capital beside Goodwater Capital and Epiq Capital. we have a tendency to tend to area unit grateful to possess the continual support of our existing investors as we have a tendency to tend to execute our vision at the worldwide stage.”

The startup same it will deploy the recent capital to rent talent across product, technology and elegance roles and may shortly offer its employees its biggest purchase selection.

“Teachmint has addressed a latent technology disadvantage at intervals the education sector and ar well positioned to scale their providing globally. durable leadership combined with the keenness and conviction to resolve this, makes U.S.A. a sturdy believer. we have a tendency to tend to ar glad to air this rocket-ship,” same Madhu Shalini Iyer, partner at Rocketship.vc, throughout a press release.

Eye-wear startup Clear Dekho raised $4 million in Pre-Series A led by Ritesh Agarwal’s Aroa Ventures

Eyewear whole ClearDekho on weekday aforesaid it’s raised $4 million (Rs thirty crore) during a pre-Series A funding semiconductor diode by Aroa Ventures that is that the family workplace of OYO founder Ritesh Agarwal.

The spherical additionally saw participation from CK Jaipuria Family workplace (Pepsi Bottlers AP), NB Ventures port, Anuj Sheth (AAJ Ventures, Dubai), Kitty Agarwal (Info Edge), Anand Chandrasekaran, Nandi Vardhan Mehta, MD of Kaaf Investments, Magnus KJoller Holdings, Mandar Joshi of M Strategy world, Venture Catalysts, SOSV MOX, Gemba Capital et al.

ClearDekho aforesaid it’s seen one,300% growth within the last 3 years because of a surge in demand for reasonable eyeglasses. ClearDekho incorporates a presence within the offline market through its FOCO retail stores (franchise-owned company operated) and reborn native optical retail stores.

“The unorganised optical market incorporates a heap of scope of in changing into standardised and hassle-free for the mass customers. we’ve robust conviction within the team and their enlargement plans. ClearDekho are going to be gift in 100+ cities at intervals successive twelve months and can still penetrate Tier 2/3/4 cities across Bharat,” Gaurav Gulati, head and chief investment officer of Aroa Ventures, said.

Founded by Shivi Singh and Saurabh Dayal in 2017, ClearDekho offers each on-line and offline eyewear looking.

“The huge $14 billion eyewear business in Bharat is growing at half-hour CAGR year on year hopped-up through vast demand of 250 million folks waiting to induce reasonable eyeglasses. The post-COVID exponential increase in screen time across age teams has semiconductor diode to the surge in demand for reasonable eyeglasses particularly from new-age customers from smaller cities that area unit driving the revolution. we tend to powerfully believe making price for our customers and as we tend to kicked off to rework this large unorganized sector, successive decade 2020 to 2030 would be process for USA,” corporate executive Singh aforesaid.