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<keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>’s sale to <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> may get delayed as <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>’s <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> has sought clarity. The investment arm of Premji- <keyword id="1430452" type="ORGANIZATION" weightage="20" keywordseo="PremjiInvest">PremjiInvest</keyword> – that holds a minorty stake in Snapdeal wants to know how rights of minority shareholders will be protected in the event of the sale being finalised. As per reports, Premji has sought more clarity on the terms. Meanwhile, PremjiInvest is also approaching other minor stakeholders who plan to oppose special payouts to certain shareholders. Such payouts are expected to be made to early investors like Nexus Venture Partners and Kalaari Capital, besides company founders Kunal Bahl and Rohit Bansal, ET quoted a source as saying. PremjiInvest has asked questions regarding transactions and special payments. This delay from PremjiInvest may not go down well with <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>.

Snapdeal sale may get delayed. Here’s why

<keyword id="1489410" type="UNKNOWN" weightage="100" keywordseo="e-commerce-in-India">E-commerce in India</keyword> is once again grabbing the headlines and this time, for all the right reasons. Bangalore-based <keyword id="319719" type="COMPANY" weightage="100" keywordseo="Myntra">Myntra</keyword>, arguably India’s largest standalone <keyword id="1127700" type="UNKNOWN" weightage="100" keywordseo="fashion-e-tailer">fashion e-tailer</keyword>, has recently closed a <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> round worth $50 million from an investor consortium led by <keyword id="1430452" type="ORGANIZATION" weightage="100" keywordseo="PremjiInvest">PremjiInvest</keyword>, the family office of the <keyword id="10862" type="CITY" weightage="60" keywordseo="Wipro">Wipro</keyword> chairman <keyword id="6419840" type="PERSON" weightage="80" keywordseo="Azim-Premji">Azim Premji</keyword>. Myntra is also in talks with a clutch of investors to raise an additional $40 million at a higher <keyword id="51393" type="UNKNOWN" weightage="100" keywordseo="valuation">valuation</keyword>, according to an Economic Times report. So far, the <keyword id="2049121" type="UNKNOWN" weightage="100" keywordseo="E-commerce-firm">e-commerce firm</keyword> has raised $125 million in risk capital funding. Another fashion e-tailer that is also raising <keyword id="57924" type="ENTERTAINMENT" weightage="100" keywordseo="big-money">big money</keyword> is Gurgaon-based <keyword id="6388367" type="COMPANY" weightage="100" keywordseo="Jabong">Jabong</keyword>.com, which is backed by Berlin-based <keyword id="1965711" type="COMPANY" weightage="80" keywordseo="Rocket-Internet-GmbH">Rocket Internet GmbH</keyword> – a venture arm of the Samwer brothers. The e-commerce firm is reportedly raising a fresh round of equity funding worth $100 million, of which it has already received $27.5 million from the British <keyword id="2049123" type="ORGANIZATION" weightage="100" keywordseo="Development-finance-institution">development finance institution</keyword> <keyword id="1613067" type="UNKNOWN" weightage="100" keywordseo="CDC-Group-Plc">CDC Group Plc</keyword>. 
 All this is good news for the cash-strapped Indian e-commerce segment. So we have taken a close look at the recent fundraising by the <keyword id="2049116" type="UNKNOWN" weightage="100" keywordseo="Indian-e-commerce-players">Indian e-commerce players</keyword> and identified five key trends that seem to be prevailing. Will they rule the <keyword id="2049126" type="UNKNOWN" weightage="100" keywordseo="Fundraising-scenario">fundraising scenario</keyword> and determine the parameters of growth throughout 2014? Let us have a quick look. 
 
Growing big is the key priority E-commerce start-ups in India are finally coming of age and looking beyond the quickest possible exits. When Myntra closed $50 million in funding a couple of days ago, the company was immediately approached by its bigger rival <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> who had reportedly come up with an acquisition offer worth $200 million. According to a TechCrunch report, e-commerce giant <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> had also approached Myntra but the details of the proposed deal are not yet available. 
 Although rumours were rife that Myntra could be considering either of the deals as part of a bigger strategy, the e-tailer has decided to stay off the <keyword id="1949341" type="UNKNOWN" weightage="100" keywordseo="Exit-route">exit route</keyword>. In fact, its ongoing talks for an additional round of funding worth $40 million clearly indicate that the company has in place some well-thought-out <keyword id="414633" type="UNKNOWN" weightage="100" keywordseo="growth-plans">growth plans</keyword> and big ones at that. The only other reason for back-to-back funding is to raise the valuation but at this point, Myntra doesn’t look like it is on the block. Neither has it decided to quit in a hurry like <keyword id="6359128" type="COMPANY" weightage="100" keywordseo="Redbus">redBus</keyword>.in did last year. <keyword id="2049136" type="UNKNOWN" weightage="100" keywordseo="Indias-largest-bus-ticketing-firm">India’s largest bus ticketing firm</keyword> was acquired by the <keyword id="1643008" type="UNKNOWN" weightage="100" keywordseo="Ibibo-Group">ibibo Group</keyword> for around $125 million but the sale cut short a successful <keyword id="530125" type="UNKNOWN" weightage="100" keywordseo="entrepreneurial-journey">entrepreneurial journey</keyword> that could have become a $500 million business in terms of revenue and could have achieved a $1 billion valuation. 
 As for Jabong, the very fact that it is backed by Rocket Internet may tell the industry insiders a different story. Rocket is known in the market for its fast and furious build-and-sell business module, and the start-ups are essentially replicas of successful US businesses. But the kind of funding Jabong is raising right now shows that the company is in no hurry to down the shutters in India even though two of its four co-founders have recently left the company. Jabong started its India operations in 2012 and competes with key e-com players such as Flipkart, Myntra, <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> and <keyword id="6354743" type="COMPANY" weightage="40" keywordseo="Amazon-India">Amazon India</keyword>, among others. 
 
Only <keyword id="2049143" type="UNKNOWN" weightage="100" keywordseo="Core-expertise">core expertise</keyword> matters Internet giant <keyword id="6355629" type="CITY" weightage="80" keywordseo="Google">Google</keyword> has already given us a case in point when it sold <keyword id="487941" type="ORGANIZATION" weightage="60" keywordseo="Motorola-Mobility">Motorola Mobility</keyword> to Lenovo for $2.91 billion, less than two years after paying $12.5 billion to acquire it. The deal is not a total financial loss as Google has managed to keep patents worth billions of dollars and expects to turn Lenovo into a manufacturing unit for its <keyword id="6355645" type="COMPANY" weightage="40" keywordseo="android">Android</keyword> OS. But selling <keyword id="11148" type="CITY" weightage="40" keywordseo="Motorola">Motorola</keyword> is a sure indication that Google should have focused more on its <keyword id="1430489" type="UNKNOWN" weightage="100" keywordseo="Core-Competencies">core competencies</keyword> – search, software and selling ads – instead of developing hardware. 
 You will find a similar case here as Jabong has reportedly sold its <keyword id="2049146" type="UNKNOWN" weightage="100" keywordseo="logistics-arm">logistics arm</keyword> <keyword id="2049145" type="UNKNOWN" weightage="100" keywordseo="JaVAS">JaVAS</keyword> (Jabong Value Added Services) to Gurgaon-based QuickDel Logistics as part of its business restructuring and funding exercise. Jabong <keyword id="170488" type="POSITION" weightage="40" keywordseo="co-founder">co-founder</keyword> <keyword id="536011" type="PERSON" weightage="40" keywordseo="Praveen-Sinha">Praveen Sinha</keyword> has also confirmed to the media that JaVAS is now an independent entity. 
 However, that brings us back to the basic question. Should companies try and provide end-to-end solutions to ensure a complete customer experience or should they focus on core competencies and leave the rest to the experts in those fields? We particularly raise this question as many Indian e-commerce firms are currently focusing on <keyword id="2049154" type="UNKNOWN" weightage="100" keywordseo="Proprietary-payment-gateways">proprietary payment gateways</keyword> and customised logistics services in a bid to propel their services to the next level. However, such services can actually make you lose money unless a company is catering to a customer base as vast as <keyword id="6357395" type="CITY" weightage="40" keywordseo="eBay">eBay</keyword> or Amazon. 
 After JaVAS, the writing is definitely on the wall. The bells and whistles can always come in later, but the key focus must be core competencies. Of late, even <keyword id="6354427" type="CITY" weightage="80" keywordseo="Apple">Apple</keyword> seems to be falling in this trap – its newest hardware products have ‘n’ number of <keyword id="2049161" type="UNKNOWN" weightage="100" keywordseo="Incremental-features">incremental features</keyword> but real innovations seem to be eluding the iconic company. 
 
Investors showing better <keyword id="170907" type="UNKNOWN" weightage="100" keywordseo="risk-appetite">risk appetite</keyword> India’s e-commerce market is projected to grow sevenfold to $22 billion in the next five years, and investors, both national and global, want to have a piece of the pie. According to <keyword id="1981" type="PERSON" weightage="80" keywordseo="Rahul-Khanna">Rahul Khanna</keyword>, managing director of the <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">venture capital</keyword> firm <keyword id="218905" type="COMPANY" weightage="80" keywordseo="Canaan-Partners">Canaan Partners</keyword> (India), e-commerce players in India (and everywhere else for that matter) require very deep pockets to scale up to the level of breaking even and hitting profitability. In this space, sales margins are typically low; volume is high, and logistics &amp; back office <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword> only become viable when companies are catering to a very <keyword id="2049169" type="UNKNOWN" weightage="100" keywordseo="Large-customer-base">large customer base</keyword>. Consequently, <keyword id="2049171" type="UNKNOWN" weightage="100" keywordseo="Follow-on-rounds">follow-on rounds</keyword> are extremely crucial for sustainable growth. Now that big institutional investors like PremjiInvest and UK-based development <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> institution CDC Group are entering the arena, the much-needed <keyword id="2000080" type="UNKNOWN" weightage="100" keywordseo="Cash-burning">cash burning</keyword> is sure to propel growth to the desired level. 
 “E-commerce is fast maturing in India and that’s the main reason <keyword id="363248" type="ORGANIZATION" weightage="100" keywordseo="Global-Investments">global investments</keyword> are flowing in,” says another analyst. “When big players like Amazon show interest (the e-commerce giant has reportedly approached Myntra), investors are quick to sense the tremendous <keyword id="452394" type="UNKNOWN" weightage="100" keywordseo="growth-potential">growth potential</keyword> lying here,” she adds. 
 
Forget the buzz you are creating; it’s result time now Analysts, who have followed the course of events over the past few weeks, also point out another interesting trend. Be it Myntra or Jabong or other up-and-coming e-commerce businesses, it’s their <keyword id="2049173" type="UNKNOWN" weightage="100" keywordseo="Growth-quotient">growth quotient</keyword> that has attracted <keyword id="2049174" type="UNKNOWN" weightage="100" keywordseo="Big-funding">big funding</keyword>. In other words, start-ups who are delivering in a big way will get the valuable <keyword id="2049175" type="UNKNOWN" weightage="100" keywordseo="Growth-dollars">growth dollars</keyword> as investors are now looking beyond the buzz and focusing on <keyword id="1730239" type="UNKNOWN" weightage="100" keywordseo="business-fundamentals">business fundamentals</keyword> and results. 
 Companies must have the numbers – in terms of customer base, <keyword id="169826" type="UNKNOWN" weightage="100" keywordseo="growth-figures">growth figures</keyword> and brand leadership – to justify the big money they are raising. For instance, Myntra expects to more than double its <keyword id="657194" type="UNKNOWN" weightage="100" keywordseo="gross-sales">gross sales</keyword> to over $250 million by March 2015 and the fashion e-tailer’s <keyword id="2049176" type="UNKNOWN" weightage="100" keywordseo="Monthly-gross-sales">monthly gross sales</keyword> could touch $20-25 million by April this year. Myntra is expected to end the current fiscal with more than $100 million in gross sales and it is targeting $1 billion in <keyword id="6399113" type="ORGANIZATION" weightage="100" keywordseo="GMV">GMV</keyword> by 2016-2017. Flipkart, which raised $360 million last year at a valuation of about $1.6 billion, is also projecting a GMV of $1 billion by 2015. 
 Jabong, too, has aggressive growth plans and the latest round will be used to strengthen its <keyword id="2049177" type="UNKNOWN" weightage="100" keywordseo="Supply-chain-infrastructure">supply chain infrastructure</keyword> and enhance its <keyword id="2049178" type="UNKNOWN" weightage="100" keywordseo="Technology-platform">technology platform</keyword>. According to industry sources, Jabong might have generated <keyword id="2049180" type="UNKNOWN" weightage="100" keywordseo="Gross-merchandise-sales">gross merchandise sales</keyword> of $100-150 million for the fiscal 2012-13. Other key investments in the Indian e-commerce space since 2013 included online marketplace Snapdeal raising about Rs 300 crore and baby care portal <keyword id="1615917" type="COMPANY" weightage="80" keywordseo="FirstCry">Firstcry</keyword> bagging Rs 92 crore. 
 
Inventory, <keyword id="6630005" type="UNKNOWN" weightage="100" keywordseo="private-labels">private labels</keyword> are adding value 
With the lone exception of Snapdeal that runs a 100% marketplace, most of the big e-commerce entities in India are flourishing on a hybrid model – a strategic mix of inventory, private label and marketplace. In fact, Jabong has been doing all three for some time now, although a bit discreetly, and it could be now pushing hard to extract every penny from each of these categories. 
 
Myntra, on the other hand, focuses on both inventory and private label, with the share of private labels rising rapidly. A couple of years ago, the e-tailer acquired Exclusively.in Inc., the company behind the private label brand Shersingh.com and the fashion site Exclusively.in, in a cash-cum-equity deal. Myntra is reportedly eyeing more private labels to add to its portfolio as the margins are pretty high in this segment and add substantially to the profits. 
 
Bottom line: Is it a <keyword id="2049185" type="UNKNOWN" weightage="100" keywordseo="Volatile-situation">volatile situation</keyword>? In one of her latest blogs in <keyword id="6359301" type="POSITION" weightage="100" keywordseo="Entrepreneur">Entrepreneur</keyword>.com, entrepreneur-writer Erika Trautman has nicely summed it up. “No matter how great the idea, if your start-up doesn’t create hard and fast results with analytics, targeted business solutions and mobile integration, it won’t survive in 2014. Launching a start-up can’t just be about how cool your product is. No business can subsist off just buzz and Press. This year, start-ups must focus on business fundamentals and start emphasising partnerships that generate results.” 
 
Can the Indian e-commerce players innovate, scale up and deliver (as the takeaways so amply illustrate) to justify the trust investors are now putting in them? Will there be new ventures to take up the gauntlet? Let us wait and watch. 
 
Image: Thinkstock Photos/Getty Images

Indian E-com Players
Are Raising Big Money; These 5 Takeaways Can Help You Understand What’s
Changing

<ul><li>Pharmacy retail chain <keyword id="590699" type="General" weightage="20" keywordseo="medplus-health-services" source="Orion">MedPlus Health Services</keyword> is looking to raise ₹1,639 crore through IPO.</li><li>The company offers both offline and online sales of pharmaceutical products through website and mobile application.</li><li>Azim Premji’s PI Opportunities Fund is among the promoters of the company selling its shares through the IPO.</li></ul>Another IPO that is open for subscription this week is Hyderabad-based pharmacy retail chain MedPlus Health Services. The ₹1,398 crore initial public offering (IPO) will close on December 15. The IPO consists of a fresh issue of ₹600 crore worth of shares and an offer for sale of shares worth ₹798.29 crore by selling shareholders. 18 shareholders will be selling shares in the IPO including PI Opportunities fund, which is an affiliate of PremjiInvest. PremjiInvest is the family office of billionaire Azim Premji, founder chairman of Wipro. The company is India's second-largest pharmacy retailer in terms of the number of stores and revenue. It sells a wide range of pharmaceutical products and fast-moving consumer goods (FMGC), such as medicines, vitamins, medical devices, home, and personal care products, etc The grey market premium of the company’s shares were demanding a premium of ₹300 per share. Moreover, analysts are also bullish on the company as it sees several growth opportunities in the pharmacy retailing space. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#bdd6ee;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firms </td><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#bdd6ee;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KRChoksey </td><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swastika </td><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Religare </td><td style="border-left:solid #000000 0.98958pt;border-right:solid #000000 0.98958pt;border-bottom:solid #000000 0.98958pt;border-top:solid #000000 0.98958pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Positive </td></tr></tbody></table> Analysts at ICICIdirect say that MedPlus with its clustered store presence is well suited to leverage on an omni-channel platform (online and offline) with a hyper local delivery model. “We assign SUBSCRIBE rating given its unique model and decent valuation,” said the brokerage firm. <div type="image" title="medplus rev" height="900" width="1200" msid="88265088" hostid="261"></div> A report by Religare Broking said that MedPlus is well-positioned to benefit from a fast-growing Indian e-commerce pharmacy retail market. “Going forward, the company intends to grow its Omni-channel platform with a hyper-local delivery model. Also, they plan to strengthen the market reach by entering new geographies. On the financial front, the company’s performance seems decent. From a long term growth perspective, we have a positive view on MedPlus,” said analysts at the broking firm. MedPlus is among the top two players in terms of physical store addition and average revenue per store. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Players </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net store additions in FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Average revenue per store in FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Pharmacy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,118 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.42 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MedPlus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,081 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.59 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wellness Forever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">223 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.68 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/metro-brands-ipo-gmp-and-why-analysts-say-subscribe-for-long-term/articleshow/88252982.cms">The grey market is losing interest in Metro Brands’ IPO, but the analysts are still gung ho ⁠— here’s what the data have to say</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/checkout-important-details-and-dates-related-to-supriya-lifescience-ipo/articleshow/88257604.cms">Supriya Lifescience IPO to open on December 16: Check out important details related to the IPO</a>

MedPlus Health Services is a good play on growing e-commerce pharmacy space, say analysts; GMP at ₹300

<ul><li>Pharmacy retail chain Medplus Health Services is looking to raise ₹1,639 crore through IPO.</li><li>The company offers both offline and online sales of pharmaceutical products through website and mobile application.</li><li>Azim Premji’s PI Opportunities Fund is among the promoters of the company selling its shares through the IPO.</li></ul>Hyderabad-based pharmacy retail chain Medplus Health Services’ ₹1,398 crore initial public offering (IPO) is all set to open today, December 13, and close on December 15. The IPO consists of a fresh issue of ₹600 crore worth of shares and an offer for sale of shares worth ₹798.29 crore by selling shareholders. 18 shareholders will be selling shares in the IPO including PI Opportunities fund, which is an affiliate of PremjiInvest. PremjiInvest is the family office of billionaire Azim Premji, founder chairman of Wipro. The company is India's second-largest pharmacy retailer in terms of the number of stores and revenue. It sells a wide range of products, including pharmaceutical and wellness products -- medicines, vitamins, medical devices and test kits, and fast-moving consumer goods -- home and personal care products, toiletries, baby care products, soaps and detergents, and sanitisers. The company has over 2,000 stores distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra. Here are some of the important details related to the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹780 to ₹796 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 13 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 15 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 20 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 21 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 22 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 23 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">18 </td></tr></tbody></table> The proceeds from the fresh issue will be utilised for working capital requirements of material subsidiary Optival. It has grown from operating 48 stores in Hyderabad to now operating a retail network of over 2,000 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of March, 2021. Medplus’s profit went up sharply in FY21 to ₹63 crore from just ₹1.79 crore last year. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total income </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,284 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹11.92 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,887 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1.79 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹3,090 crore </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹63.11 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/from-mukesh-ambani-to-gautam-adani-indias-billionaires-and-big-corporations-made-huge-promises-this-year-to-fight-climate-change/slidelist/88208860.cms">From Mukesh Ambani to Gautam Adani, India's billionaires and big corporations made huge promises this year to fight climate change</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-enabled-broking-firms-like-zerodha-raise-concerns-over-sebis-views-on-algo-trading/articleshow/88208031.cms">Tech-enabled broking firms like Zerodha raise concerns over SEBI’s views on algo trading</a>

Medplus Healthcare’s IPO opens today — checkout all the dates you need to know

<ul><li>Pharmacy retail chain <keyword id="11881163" type="UNKNOWN" weightage="20" keywordseo="medplus-healthcare-services">Medplus Healthcare Services</keyword> filed a draft red herring prospectus (DRHP) with SEBI to raise ₹1,639 crore through IPO.</li><li>The company offers both offline and online sales of pharmaceutical products through website and mobile application.</li><li>The company offers a wide range of products, including pharmaceutical and wellness products and fast-moving consumer goods.</li><li>Azim Premji’s PI Opportunities Fund is among promoters in the company selling its shares through the IPO.</li></ul>Hyderabad-based pharmacy retail chain Medplus Healthcare Services has filed the draft red herring prospectus (DRHP) with India’s market regulator to raise ₹1,639 crore through an initial public offering (IPO). The offer comprises ₹600 crore of fresh issue and an offer for sale (OFS) of ₹1,039 crore by existing promoters. Promoter Lone Furrow Investments will sell equity shares worth ₹450 crore through the IPO issue followed by ₹500 crore by PI Opportunities fund, which is an affiliate of PremjiInvest. PremjiInvest is the family office of billionaire Azim Premji, chairman of Wipro. The company sells a wide range of products, including pharmaceutical and wellness products -- medicines, vitamins, medical devices and test kits, and fast-moving consumer goods -- home and personal care products, toiletries, baby care products, soaps and detergents, and sanitisers. The 15-year-old company was founded by Gangadi Madhukar Reddy, managing director and chief executive officer, with the vision “to set up a trusted pharmacy retail brand that offers genuine medicines and delivers better value to the customer by reducing inefficiencies in the supply chain using technology,” the company said in its DRHP filing. It has grown from operating 48 stores in Hyderabad to now operating a retail network of over 2,000 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of March, 2021. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2284 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹63 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2887 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1.79 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹3090 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹11.92 crore </td></tr></tbody></table> The company offers both offline and online sales of pharmaceutical products through website and mobile application. Medplus Healthcare Services intends to use ₹467 crore from the IPO proceeds for working capital requirements of its subsidiary Optival Health Solutions and the rest for general corporate purposes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/e-commerce/news/walmart-to-prioritise-flipkarts-diwali-sale-big-billion-days/articleshow/85418923.cms">Walmart to prioritise Flipkart’s Diwali sale ‘Big Billion Days’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/shares-of-apollo-hospitals-have-surged-178-in-the-last-one-year-and-103-so-far-in-2021/articleshow/85398007.cms">Apollo Hospitals gives multibagger returns in last one year on growth in pharmacy business, vaccination revenue</a>

Medplus Healthcare Services looks to raise ₹1,639 crore via IPO

New Delhi, June 18 () The Future Group is in advance talks with Mukesh Ambani's Reliance Industries to sell stakes in Future Retail and some other units, according to industry sources. The Kishore Biyani-led group, which already has a partnership with e-commerce giant Amazon, and Reliance Industries Ltd (RIL) had initiated talks in this regard some times back, they said. "Talks are going on but nothing has been finalised so far," a person privy to the development said. Earlier, the Future Group was also exploring stake sale opportunities in Future Retail with PremjiInvest, the family investment arm of Wipro Chairman Azim Premji, and private equity firm Samara Capital. Stating that the Future Group was in talks with PremjiInvest and Samara Capital for stake sale in Future Retail, he said the negotiations with RIL also include other retail units. When contacted, the Future Group declined to comment on the development. While a Reliance Industries spokesperson said: "As a policy, we do not comment on media speculation and rumours", adding that the company "evaluates various opportunities on an ongoing basis". If any deal is finalised, then it would be a breather for the Future Group, as promoter Kishore Biyani had defaulted on loans in March. Various rating agencies like Standard &amp; Poor's and Fitch downgraded credit ratings of Future Retail after the default and invocation of pledged shares by lenders. The Promoter &amp; Promoter Group held 40.31 per cent stake in Future Retail as of March 31, 2020. Future Retail operates 1,500 retail stores that cover over 16 million square feet of retail space in 400 cities. It has large format stores, Big Bazaar, its flagship chain, besides small store neighbourhood retail chains, EasyDay Club and Heritage Fresh. On the other hand, Reliance Retail operates a network of 11,784 stores covering 28.7 million square feet and reported a revenue of Rs 38,211 crore in the January-March quarter. KRH MKJ

Future Group in advance talks with RIL to sell stake in Future Retail, other units: Sources

<keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> on Monday said global investment firm <keyword id="6354544" type="COMPANY" weightage="20" keywordseo="kkr">KKR</keyword> will invest <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> 95 million (about Rs 695.8 crore) in the omni-channel eyewear retailer via a secondary stake acquisition. As part of the transaction, existing <keyword id="6359051" type="UNKNOWN" weightage="20" keywordseo="investors">investors</keyword> - TPG Growth and TR Capital - will each divest a portion of their holding in Lenskart, a statement said. These entities had invested in Lenskart in late 2014. Upon the completion of the transaction, KKR will look to leverage its experience working with leading technology and eyewear companies globally to support Lenskart in expanding its presence in India, scaling its growing operations overseas, and enhancing its digital offerings to augment customers' virtual and omni-store experience, the statement said. According to reports, KKR's investment is part of a larger USD 300-million round. However, the companies did not comment on the report and if other investors have participated in the round. KKR said it is making its investment from its Asian private equity fund. Some of the recent technology-focused investments for KKR in Asia include Adopt A Cow (a digitalised, direct-to-consumer dairy company in China), NetStars (the operator of Japan's largest QR code payment gateway), and Walnut Programming (a children's programming education company in China). In 2019, Lenskart had announced raising over USD 275 million (nearly ₹1,956 crore) from Softbank Vision Fund. In the past, it has received funding from investors' like Ratan Tata, PremjiInvest, <keyword id="85860" type="COMPANY" weightage="20" keywordseo="IFC">IFC</keyword> (venture capital arm of the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword>), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq. Established in 2010, Lenskart currently serves over 7 million customers annually through its omni-channel presence that spans online, mobile application, and 730 stores in 175 cities across the country. In 2019, Lenskart had also expanded to Singapore, marking its foray into Southeast Asia. Lenskart integrates technology into all aspects of its operations, to the browsing, shopping and purchasing experience, in addition to manufacturing and supply-chain optimisation. Among Lenskart's digital offerings is a virtual 3D try-on tool; AI-powered facial mapping and frame recommendation features; smart physical stores with seamless omni-channel experience; and footfall tracking beacons, heat maps and demographic analytics; and intelligent supply-chain and inventory-management solutions. More than 600 million people in India and 4.5 billion people globally need vision correction, but only a fraction of them use it due to a lack of access, awareness, and high-quality, affordable solutions, Lenskart CEO Peyush Bansal said. Lenskart was founded to address this gap by leveraging technology to make eyewear accessible to everyone - first in India, and now worldwide, he added. "In the next five years, we aspire to have 50 per cent of India wearing our specs... We are thrilled to welcome KKR as an investor given their significant experience working with leading global eyewear retailers such as National Vision and 1-800 Contacts as well as technology-focused businesses globally," he said. KKR Partner Gaurav Trehan said as a technology-driven business, Lenskart is a strong, homegrown disruptor in India's rapidly expanding eyewear industry. "We are truly excited to work with Peyush and Lenskart's impressive management team to support Lenskart's growth and innovation in India and internationally, in addition to advancing its mission to provide affordable, accessible eyewear products for everyone," he added. Avendus Capital advised Lenskart on the transaction. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

Lenskart gets funding of $95 million from global investment firm KKR

<ul><li><keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword>, responding to reports of talks to sell a stake in the firm to Reliance Industries Ltd (RIL), on Thursday said it continues to explore and evaluate various opportunities</li><li>Meanwhile, RIL in a regulatory filing said it evaluates various opportunities on an ongoing basis. </li><li>RIL's reply came over a clarification submitted to the BSE over the same report hinting towards a deal to acquire retail businesses of the Future Group. </li></ul>Future Retail, responding to reports of talks to sell a stake in the firm to Reliance Industries Ltd (RIL), on Thursday said it continues to explore and evaluate various opportunities. Responding to the BSE over reports, the Future Group firm said no such decision has been taken by the company's board so far. Meanwhile, RIL in a regulatory filing said it evaluates various opportunities on an ongoing basis. RIL's reply came over a clarification submitted to the BSE over the same report hinting towards a deal to acquire retail businesses of the Future Group. While the Future Group said any such proposal by any company is always a subject matter of feasibility studies and the need for requisite consents, said the Future Group company in the filing. "The company continues to explore and evaluate various opportunities or associations in the interest the company as and when considered appropriate, which is always a subject matter of further feasibility studies and the need for requisite consents in accordance to the applicable laws and other stakeholders," said Future Retail. If any deal is finalised, it would be a breather for the Future Group, as promoter <keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword> had defaulted on loans in March. Various rating agencies like Standard &amp; Poor's and Fitch downgraded credit ratings of Future Retail after the default and invocation of pledged shares by lenders. Promoter and promoter group held a 40.31 per cent stake in Future Retail as of March 31, 2020, through Future Corporate Resources and Future Coupons. Future Retail operates 1,500 retail stores that cover over 16 million sq ft of retail space in 400 cities. It has large-format stores, Big Bazaar, its flagship chain, besides small store neighbourhood retail chains, EasyDay Club and Heritage Fresh. On the other hand, <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> operates a network of 11,784 stores covering 28.7 million sq ft and reported a revenue of Rs 38,211 crore in the January-March quarter. PremjiInvest owns about 6 per cent stake in Future Retail, while Amazon has around 3.6 per cent. Earlier this year, the Future Group forged partnerships with e-commerce major Amazon, as they sought to expand their reach by leveraging each other's networks. KRH HRS

Future Retail explores, evaluates various opportunities for stake sale

To tap the upbeat investor sentiment, three firms - <a href="http://www.businessinsider.in/searchresult.cms?query=IPO&amp;sortorder=score">ICICI Prudential Life</a> <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">Insurance</keyword> Company, <a href="http://www.businessinsider.in/searchresult.cms?query=IPO&amp;sortorder=score">L&amp;T Technology Services</a> and <keyword id="3079163" type="UNKNOWN" weightage="20" keywordseo="GNA-Axles">GNA Axles</keyword> - will hit the markets this month to raise over Rs 7,000 crore through IPO. 
 Bidding for shares in <keyword id="1380245" type="UNKNOWN" weightage="20" keywordseo="LT-Technology-Services">L&amp;T Technology Services</keyword> will open tomorrow, while the same for GNA Axles would begin on September 14 and <keyword id="75577" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life">ICICI Prudential Life</keyword>'s public issue would be open for subscription from September 19. 
 The public issue of ICICI <keyword id="118708" type="CITY" weightage="20" keywordseo="Prudential">Prudential</keyword> Life is expected to garner Rs 6,057 crore, L&amp;T Technology (Rs 894 crore) and GNA Axles (Rs 130 crore). 
 The equity shares offered through the initial public offers (IPOs) are proposed to be listed on the BSE and <keyword id="6354646" type="CITY" weightage="20" keywordseo="NSE">NSE</keyword>. 
 
Since the beginning of 2016, as many as 17 companies have already floated their IPOs and got listed on the <a href="http://www.businessinsider.in/searchresult.cms?query=IPO&amp;sortorder=score">stock exchanges</a>. 
 
ICICI Prudential Life's public offer comprises up to 18,13,41,058 <a href="http://www.businessinsider.in/searchresult.cms?query=IPO&amp;sortorder=score">equity shares </a>of <keyword id="632740" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance-Company">ICICI Prudential Life Insurance Company</keyword>. 
 
This would be the first public issue by an insurer in India. It would also be the biggest IPO after Coal India, which had hit the markets in 2010 to raise over Rs 15,000 crore. 
 The insurer is a venture between banking major <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> and UK's Prudential Corporation Holdings. ICICI Bank has around 68% stake in the insurer, while Prudential has 26 per cent. <keyword id="6356662" type="COUNTRY" weightage="20" keywordseo="Singapore">Singapore</keyword>'s <keyword id="6367519" type="PERSON" weightage="20" keywordseo="Temasek">Temasek</keyword> and PremjiInvest also are shareholders. 
 
The firm has fixed a price band between Rs 300 to Rs 334 per equity share. 
 L&amp;T Technology Services' IPO comprises an offer for sale of up to 10,400,000 shares by its promoter <keyword id="147676" type="PERSON" weightage="20" keywordseo="Larsen">Larsen</keyword> and <keyword id="304986" type="COMPANY" weightage="20" keywordseo="Toubro">Toubro</keyword> (L&amp;T). The firm has fixed price band of Rs 850 to Rs 860 per share for the IPO. 
 
The initial public offering of auto components maker GNA Axles comprises an issue of up to 63 lakh shares. The price band has been sat Rs 205-207 per share.

Watchout for these three new IPOs hitting the market to raise Rs 7,000 crores

<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image"><a title_source="Cyanogen" title_caption="Cyanogen CEO Kirt McMaster" class="zoomin" href="https://static-ssl.businessinsider.com/image/54f5166569bedd0b13150753-960/kirt-mcmaster-1.jpg"></a>CyanogenCyanogen CEO Kirt McMaster</div></div>Cyanogen, a startup that makes a forked version of Android, is reportedly close to raising $110 million in funding, <a href="http://www.bloomberg.com/news/articles/2015-03-13/cyanogen-said-to-raise-110-million-microsoft-passes-on-funding">according to Bloomberg</a>.While previous reports suggested Microsoft was in talks with Cyanogen, Bloomberg says the Windows software maker decided not to invest. Microsoft may be interested in a commercial deal to get its software on Cyanogen's platform, however, according to the report. Bloomberg says, "PremjiInvest, the investment vehicle of Wipro Ltd. Chairman Azim Premji" is one of the investors.Earlier this month, <a href="http://www.businessinsider.com/cyanogen-ceo-kirt-mcmaster-on-android-samsung-and-more-2015-3">Cyanogen CEO Kirt McMaster told Business Insider</a> the company would make announcements about its C round funding in the "next few weeks," but wouldn't comment specifically on Microsoft's involvement.McMaster said there are "a lot of significant parties that are interested in the company."Bloomberg reports that the round could value Cyanogen at $500 million or more. There are quite a few other possibilities, <a href="https://www.theinformation.com/Obscure-Android-Software-Firm-Attracts-Google-Rivals">according to The Information</a>, which reported in August that Amazon, Yahoo, Samsung, and Microsoft were all in talks with Cyanogen.Cyanogen makes an open firmware based on Android that allows users to add more features and customization to their phones. Chinese startup OnePlus, which has a phone called the One that proved to be insanely popular in 2014, ships its device with Cyanogen pre-loaded. We've reached out to Cyanogen and will update this story accordingly with any comment. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/smartphone-impact-brain-body-sleep-2015-2">This is what happens to your brain and body when you check your phone before bed</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="BvMjVqcjoHdZBG6tTpXy8UkhB5_46U_c" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A startup building a better version of Android is getting $110 million investment

MUMBAI: <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> is said to be considering a personal investment in <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, an e-commerce firm, at a time when online retail is generating investor euphoria on the back of exponential growth. 
 
In a move that would signal his interest in India's emerging consumer internet story, the 76-year-old chairman emeritus of Tata Sons may buy out an early investor in Snapdeal through a secondary sale, people familiar with the development said. 
 
Kunal Bahl, co-founder of Snapdeal, did not respond to TOI's query while an emailed questionnaire to Tata's office on Monday remained unanswered till the time of going to press on Tuesday. 
 
The 76-year-old, who transformed India's largest private sector conglomerate with a string of marquee global acquisitions, is expected to be a minority investor in his personal capacity in the e-tailer. TOI could not ascertain the exact stake Tata would hold in Snapdeal if and when the transaction is completed. 
 
While his holding is unlikely to be high, its real significance would lie in the buzz it would create for the four-year-old firm. Tata has always had in interest in technology; even so, the deal, if it goes through, would mark the ultimate coming together of the old and new guard. 
 
People close to Snapdeal said Tata had visited the firm's headquarters in Delhi about a month ago and addressed employees. 
 Tata could be boarding Snapdeal just when the online marketplace, which has crossed $1 billion in gross merchandise sale by value—second only to Flipkart—is busy fending off a challenge from online retail juggernaut <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> for No. 2 position in the domestic e-commerce market. 
 
The investment would be testimony to the growing interest of established business houses in India's burgeoning internet commerce, which is poised to hit $9 billion over the next two years, according to US venture capitalist Accel Partners. 
 The potential investment by Tata, who stepped down from his day-to-day responsibilities at the $100 billion conglomerate about two years ago, would be a huge, timely shot in the arm for Snapdeal, with both <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and Amazon declaring open war for dominance of India's fast-growing e-commerce market which has attracted top dollars from financial investors. 
 
Bangalore-based Flipkart, the country's leading e-tailer with gross sales nearing $3 billion, last week raised $1 billion in funding mostly from existing investors led by Tiger Global, Naspers and Accel Partners. The Jeff Bezos-led Amazon responded a day later by announcing a $2 billion investment in what is becoming a hotly contested three-legged race. 
 Another Indian business tycoon, Wipro's Azim Premj, has laid bets on the Indian consumer internet story through his family office PremjiInvest by picking up minority stakes in <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword>, now merged with Flipkart, and Snapdeal. <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> co-founder <keyword id="6355623" type="PERSON" weightage="20" keywordseo="Narayana-Murthy">Narayana Murthy</keyword> recently formed an e-commerce joint venture with Amazon through his private investment firm Catamaran Ventures. 
 
Other big Indian business houses with interests in offline retail like Mukesh Ambani's Reliance Retail and the Aditya Birla Group have now begun unfolding their e-commerce plans as an increasing number of Indians shop online, driven in large part by rising smartphone penetration. India's galloping internet user base is now estimated at over 240 million, raising the possibility of it emerging as the world's largest digital commerce market along with China. 
 
Snapdeal has already raised two rounds of funds so far this year, taking total capital raised to about $350 million at a valuation of a billion dollars. Its existing investors include San Jose- based eBay Inc, Singapore's Temasek, BlackRock, PremjiInvest, Intel, Nexus Venture Partners, NEA-IndoUS Venture Partners and Bessemer Venture Partners. 
 
Bahl and schoolmate, Rohit Bansal, both 32, started Snapdeal four years ago as a daily deals site, modelled on GroupOn, later changing it into an online marketplace for merchants to sell their products. Before Snapdeal, the Delhi duo founded Money Saver, a physical coupon book business that offered discounts to consumers across retail outlets. Bahl, who'd returned after graduating from Wharton, and Bansal, armed with an IIT-Delhi degree, later transitioned from a physical format to mobile couponing till the idea of starting a daily-deals site struck them in January 2010. 
 
Snapdeal says it sells about five million products across various categories like apparel, mobiles and electronics with over 25 million subscribers operating on a pure-play online marketplace model. Like Flipkart, it generates over 50% of its orders from mobile phones.

Tata May Invest In E-Tailer Snapdeal

It’s acquisition time for Indian ecommerce companies. More the ecommerce in India are gaining foothold, the key players in the sector are pulling up newbies under the fold. <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, which has acquired <keyword id="2871211" type="UNKNOWN" weightage="20" keywordseo="Mobi-Kwik">Mobi Kwik</keyword>, an online payment platform recently has hit the headlines once more. This time, it’s Snapdeal’s parent company <keyword id="6481662" type="COMPANY" weightage="20" keywordseo="Jasper-Infotech">Jasper Infotech</keyword>, which has acquired mobile commerce startup <keyword id="2868543" type="UNKNOWN" weightage="20" keywordseo="MartMobi">Martmobi</keyword>, its 10th buyout, for an undisclosed sum. 
 
As per a news report in The Economic Times, Hyderabad-based Martmobi's mobile-specific platform and solutions allow small and medium-sized businesses and brands to build mobile stores and apps that can connect with customers' existing back-end systems. The company, formed in 2008, also provides real-time analytics to improve conversions and user engagement. 
 
"They've done a great job in solving merchant problems when it comes to mobile internet. We have already done a lot of work in that area, and we expect this acquisition to take us to the next level," Rohit Bansal, co-founder and chief operating officer of Snapdeal told the ET. 
 
Snapdeal, which has 40 million users, sees about 75% of its total sales through mobile phones, according to the company. 
 
The company has been actively scouting for acquisitions in the broader mobile and data analytics segment, and since the start of 2015 it has already announced four buyouts, including the $450 million (about Rs 2,880 crore) cash-and-stock acquisition of mobile recharge and payments venture Freecharge in April. 
 "It is all about getting to the market early with the technology. While <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> has access to its global tech pool, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and Snapdeal will continue to acquire mobile tech firms," Ratul Ghosh, former <keyword id="373910" type="POSITION" weightage="20" keywordseo="head-of-strategy">head of strategy</keyword> at <keyword id="161767" type="COMPANY" weightage="20" keywordseo="eBay-India">eBay India</keyword> and former <keyword id="2871210" type="UNKNOWN" weightage="20" keywordseo="chair-of-e-commerce-committee">chair of e-commerce committee</keyword> told the financial daily. 
 In an exclusive chat with the ET last month, Snapdeal <keyword id="24211" type="POSITION" weightage="20" keywordseo="chief-executive">Chief Executive</keyword> <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> said that the company was aiming to make about 10 more acquisitions in the current fiscal. While the company did not disclose the size of its war chest, its recent purchases have been fuelled by the nearly $1 billion (about Rs 6,400 crore) it raised last year. 
 The company, which is in the midst of an attritional war with rival online marketplaces Flipkart and Amazon, is backed by a host of marquee strategic and financial investors, including <keyword id="6355311" type="COUNTRY" weightage="20" keywordseo="Japan">Japan</keyword>'s <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, BlackRock, eBay and PremjiInvest, the personal investment arm of <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> <keyword id="6364480" type="POSITION" weightage="20" keywordseo="Chairman">chairman</keyword> <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>.

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