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Travel aggregator <keyword id="21163825" type="General" weightage="20" keywordseo="Ixigo" source="keywords" meta.keywordsubtype="org" meta.entityname="Ixigo" meta.hostid="261" meta.entityid="Ixigo">Ixigo</keyword> made a resounding debut on the Indian stock exchanges today, listing at Rs 138.10 on NSE and Rs 135 on BSE this morning. The stock of <keyword id="20586007" type="General" weightage="100" keywordseo="Le-Travenues-Technology" source="keywords" meta.keywordsubtype="org" meta.entityname="Le Travenues Technology" meta.hostid="261" meta.entityid="Le Travenues Technology">Le Travenues Technology</keyword>’s stock, Ixigo’s parent company, which had an issue price of Rs 93, marked around 48% premium for its investors. The company, whose public offer worth Rs 720 crore was subscribed 53.95 times by retail investors, received a thumping approval from non-institutional investors (110.25 times) and qualified institutional investors (106.73 times) as well. Out of the Rs 720 crore issue, Rs 120 crore were to be generated from fresh issue (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>), while the remaining Rs 620 crores were to be raised via offer for sale (OFS), or sale of shares by existing shareholders. Per the company’s draft red herring prospectus, the company is set to utilise around Rs 450 crore from its net proceeds towards funding its working capital requirements, and another Rs 258 crores to enhance its cloud infrastructure and technology. The remaining funds will be deployed for strategic acquisitions and general purposes. <cmsannotation type="cmsannotation" annotationid="What's so special about Le Travenues?" comment="subhead" text="What's so special about Le Travenues?">What's so special about Le Travenues?</cmsannotation> The company, which is home to three applications, namely <keyword id="20821976" type="General" weightage="20" keywordseo="ConfirmTkt" source="keywords" meta.keywordsubtype="org" meta.entityname="ConfirmTkt" meta.hostid="261" meta.entityid="ConfirmTkt">ConfirmTkt</keyword>, <keyword id="22094192" type="General" weightage="20" keywordseo="ixigo-and-abhibus" source="Orion">Ixigo and AbhiBus</keyword>, claims to be India’s highest <keyword id="859499" type="General" weightage="20" keywordseo="online-travel-agency" source="Orion">online travel agency</keyword> (OTA) app usage, with a total of 8.3 crore monthly active users across the 3 platforms. As of 31st December 2023, the combined number of registered users across their applications stood at 21.321 crores. Between 2020 and 2023, the Indian OTA industry grew at a CAGR of 18%, going from gross booking revenues worth Rs 74,900 crores in 2020 to Rs 1,23,900 crore in FY2023. The company also earned Rs 501.25 crores in net revenue during FY23. It also saw a sharp reversal in its profit after tax (PAT) margins between FY22, where it was -6.42% to 4.63% in FY23. The company’s PAT grew at a CAGR of 76.2% between FY 2021-23. <cmsannotation type="cmsannotation" annotationid="What are the experts saying?" comment="subhead" text="What are the experts saying?">What are the experts saying?</cmsannotation> Brokerage firms like Canara bank securities and BP Wealth foresee long-term growth potential in the stock, given its dominant position in the OTA segment. The company is positioned as the leading OTA for India’s next one billion consumers. As compared to its peers in the industry, namely <keyword id="6362992" type="General" weightage="20" keywordseo="Yatra" source="Orion">Yatra</keyword> and Easy Trip planners, Le Travenues has lower earnings per share (EPS), which is generally considered a measure of the company’s profitability. While Yatra has an EPS of Rs 0.69, Easy Trip has an EPS of Rs 0.77. In contrast, Le Travenues has an EPS of Rs 0. 58. The company also has its fair share of pitfalls to overcome. Its ticketing agreement with <keyword id="65866" type="General" weightage="20" keywordseo="IRCTC" source="Orion">IRCTC</keyword> is non-exclusive basis, which means if IRCTC decides to engage with its competitors, or terminate the agreement, it will have an adverse impact on the company’s business.

Ixigo makes a solid debut on stock exchanges, but what's next for the share?

<ul><li><keyword id="1884281" type="COMPANY" weightage="20" keywordseo="AbhiBus">Abhibus</keyword> is a bus ticketing and aggregation platform founded in 2008.</li><li><keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">Ixigo</keyword> would get access to Abhibus’ intellectual property and operations with this acquisition.</li><li>Ixigo is planning to file preliminary papers for its IPO by mid August, to raise ₹1,500 crore. </li></ul>Online ticketing startup Le Travenues — which operates ixigo — has acquired bus ticketing and aggregation platform AbhiBus on Thursday, August 5. The development comes only a week after ixigo raised $53 million in a round led by Singapore’s sovereign fund GIC. The acquisition will help ixigo expand its footprint in the online ticketing segment, as it gets ready to go public. According to sources within the company, ixigo is planning to file its preliminary paperwork draft red herring prospectus (DRHP) by mid August, to raise ₹1,200 crore to ₹1,5000 crore from the public market. Earlier this week, the Gurugram-based startup also converted itself into a<a href="https://www.businessinsider.in/business/startups/news/travel-portal-ixigo-moves-a-step-closer-to-ipo/articleshow/85006033.cms"> public limited company</a> to start off the initial public offering (IPO) process. The latest acquisition was done for a mix of cash and ixigo stock. Post this acquisition, AbhiBus team led by founder Sudhakar Reddy Chirra will join the ixigo team. Ixigo would also get access to AbhiBus’ intellectual property, brands, technology and operations with this acquisition. The duo claims to have a combined user base of 255 million, as of May 31, 2021. “By leveraging our combined user base, multi-modal transportation capabilities, tech resources and travel domain expertise we will be able to enhance the experience of millions of travellers in India every day,” Aloke Bajpai and Rajnish Kumar, cofounders of ixigo, said in a statement. Earlier this year, ixigo had <a href="https://www.businessinsider.in/business/startups/news/ixigo-acquires-train-discovery-and-booking-platform-confirmtxt-in-a-cash-and-stock-deal/articleshow/80685580.cms" data-type="tilCustomLink">acquired</a> train booking app Confirmtkt. AbhiBus was founded in 2008 by Chirra. It provides end-to-end software and bus-related services such as online ticketing system, fleet management solutions, vehicle tracking system, passenger information system and logistics management. The company provides its tech solutions to both private and state transportation corporations in India. It has also partnered with Indian Railway Catering and Tourism Corporation (IRCTC) to offer bus ticketing services. AbhiBus claims that they used to sell around 26,000 bus tickets per day in the financial year 2020, before pandemic hit India. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days </a><a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a> <a href="https://www.businessinsider.in/business/startups/news/moengage-wants-an-office-in-new-york-and-hire-to-150-techies-in-india/articleshow/85057941.cms">INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India</a>

IPO-bound ixigo acquires bus ticketing platform AbhiBus to strengthen its footprint

<ul><li><keyword id="19902762" type="General" weightage="20" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> announced the launch of the <keyword id="20702287" type="General" weightage="100" keywordseo="Google-Wallet" source="keywords">Google Wallet</keyword> app in India on Wednesday.</li><li>Google Wallet is a <keyword id="20546945" type="General" weightage="20" keywordseo="digital-wallet" source="keywords">digital wallet</keyword> platform that allows users to store their <keyword id="21409411" type="General" weightage="20" keywordseo="loyalty-cards" source="keywords">loyalty cards</keyword>, gift cards, boarding passes and more.</li><li>Here’s everything you need to know about the Google Wallet.</li></ul> The Google Wallet has finally been launched in India, after being spotted on the Play Store a few weeks ago. While Google had then dismissed speculation around the launch of the app in India, it has now officially launched the app. For those unaware, Google Wallet is a digital wallet platform that allows users to store their loyalty cards, gift cards, boarding passes and more. Google has partnered with over 20 brands in India and has said that other brands will be added in the coming months. <cmsannotation type="cmsannotation" annotationid="What is Google Wallet?" comment="subhead" text="What is Google Wallet?">What is Google Wallet?</cmsannotation> The Google Wallet was first launched in 2011 in the US as a payment app and was relaunched as a digital wallet app in 2022. With Google Wallet, you can store digital versions of your transit passes, office badges, vaccine records, car keys, boarding passes, and even student IDs. Now, nearly two years later, the app has made its way to India, albeit with some changes. While the app in the US allows users to add their debit and credit cards, Indian users will not be able to do so. <cmsannotation type="cmsannotation" annotationid="Google Wallet for India" comment="subhead" text="Google Wallet for India">Google Wallet for India</cmsannotation> To cater to India, Google has partnered with over 20 of the country’s leading brands, including PVR &amp; Inox, Air India, Indigo, Flipkart, AbhiBus, Kochi Metro and more. For India, the Google Wallet app will only work as a digital wallet and users will not be able to add their debit or credit cards. For this purpose, Indian users can continue to use the <keyword id="19907218" type="General" weightage="20" keywordseo="Google-Pay" source="keywords">Google Pay</keyword> app. "The arrival of Google Wallet in India marks an important milestone in Android's India journey, bringing innovative and convenient experiences to simplify peoples' daily lives. We are delighted to partner with many of India's top brands to offer a comprehensive solution that helps you securely access and manage your everyday essentials. From boarding passes to loyalty cards, and event tickets to public transport passes - they're there when you need them,” said Ram Papatla, GM and India Engineering Lead, Android at Google. <cmsannotation type="cmsannotation" annotationid="Google Pay to continue" comment="subhead" text="Google Pay to continue">Google Pay to continue</cmsannotation> In February 2024, Google announced that it would replace the Google Pay app with the Google Wallet in the US. While Google has now launched the Google Wallet in India, the Google Pay app will continue to work as usual in the country. The Google Pay app already has a huge user base in the country, alongside PhonePe. As per NPCI data, over 5 billion transactions were done on Google Pay in April 2024. "Google Pay is not going anywhere. It will remain our primary payment app. Google Wallet is specifically tailored for non-payment use cases," Papatla added. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms">Google has quietly launched the Pixel 8a in India starting at ₹52,999</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms">Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot</a>

Google Wallet launched in India – store your loyalty cards, boarding passes and more

<ul><li><keyword id="123949" type="ORGANIZATION" weightage="20" keywordseo="Chemplast-Sanmar">Chemplast Sanmar</keyword> is a leading supplier of intermediates for global agrochemical, pharmaceutical and fine chemical innovators.</li><li>The speciality <keyword id="767605" type="PERSON" weightage="20" keywordseo="chemicals-manufacturer">chemicals manufacturer</keyword> is looking to raise ₹3,850 crore starting with a price band of ₹530-₹541 per share.</li><li>The IPO of the company will open on August 10 and close on August 12.</li></ul>Another speciality chemical company Chemplast Sanmar is set to launch its initial public offering (IPO) on exchanges. In July, Clean Science and Technology and Tatva Chintan Pharma Chem were the two IPOs in the speciality chemicals segment that made a strong listing as investors remain bullish on the chemical industry. Chemplast Sanmar is a speciality chemical manufacturer with a focus on specialty paste poly vinyl chloride (PVC) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. The company is looking to raise ₹3,850 crore via IPO that will comprise of ₹1,300 crore fresh issue and offer for sale up to ₹2,550 crore from existing shareholders. It has set a price band of ₹530 to ₹541. <keyword id="11101421" type="UNKNOWN" weightage="20" keywordseo="Chemplast-Sanmar-IPO">Chemplast Sanmar IPO</keyword> will be accompanied by Aptus Value Housing IPO opening on the same date i.e. August 10. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></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;">Issue details </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;"> </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;">Price band </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;">₹530 to ₹541 </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;">IPO open date </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;">August 10 </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;">IPO close date </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;">August 12 </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;">Allotment date </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;">August 18 </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;">Initiation of refunds </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;">August 20 </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;">Credit of shares to demat account </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;">August 23 </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;">IPO listing date </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;">August 24 </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;">Minimum lot </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;">27 </td></tr></tbody><tbody></tbody></table> The company also manufactures caustic soda, chlorochemicals, hydrogen peroxide, refrigerant gas and industrial salt. It has four manufacturing facilities, of which three are located in Tamil Nadu and one is located in Puducherry. Moreover, the company is a part of Sanmar Group. The company has acquired Chemplast Cuddalore Vinyls in FY21, which is the second largest manufacturer of suspension PVC resin in India and the largest manufacturer in the South India region. The IPO proceeds will be utilised on early redemption of non-convertible debentures (NCDs) issued by the company in full and for meeting general corporate purposes. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></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;">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;">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;">FY19 </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;">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;">₹3815.1 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;">₹1265.5 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;">₹1266.7 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;">Profits </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;">₹410.2 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;">₹46.1 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;">₹118.4 crore </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ipo-bound-ixigo-acquires-bus-ticketing-platform-abhibus-to-strengthen-its-footprint/articleshow/85062903.cms">IPO-bound ixigo acquires bus ticketing platform AbhiBus to strengthen its footprint </a> <a href="https://www.businessinsider.in/personal-finance/news/gold-bond-early-redemption-window-opens-stay-invested-if-you-dont-need-the-money-urgently/articleshow/85061528.cms">Gold bond early redemption window opens today — if you don’t need the money now, stay invested </a>

Chemplast Sanmar to raise ₹3,850 crore through IPO starting from August 10

<ul><li>This is SoftBank’s second bet in <keyword id="2000014" type="PERSON" weightage="20" keywordseo="MindTickle" source="Orion">MindTickle</keyword>, which helps enterprises improve their sales.</li><li>MindTickle will use this funding to expand its presence, acquire companies and hire aggressively.</li><li>The company has over 200 clients across the globe, including Dabur, Johnson &amp; Johnson, Wipro</li></ul>MindTickle, a startup that helps small and large enterprises improve their sales, is the latest entrant to India's <keyword id="3009432" type="PERSON" weightage="20" keywordseo="unicorn-club" source="Orion">unicorn club</keyword>. The decade old startup on Thursday, August 8, announced a $100 million Series E funding round led by existing investor SoftBank, at a valuation of $1.2 billion. Existing investors Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm Ventures also participated in the Series E round. This makes MindTickle the third Indian software-as-a-service (SaaS) startup to become a unicorn in 2021, after Chargebee and BrowserStack. Overall, there are over nine venture capital (VC) funded SaaS unicorns in India. A unicorn is a privately valued company with a valuation of over $1 billion. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">SaaS unicorns </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;">Valuation </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;">BrowserStack </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 billion </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;">Freshworks </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;">$3.5 billion </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;">Icertis </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;">$2.8 billion </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;"> Postman </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 billion </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;"> Zenoti </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;">$1.5 billion </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;">Chargebee </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;">$1.4 billion</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;">MindTickle </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;">$1.2 billion </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;">Highradius </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 billion </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;">Druva </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 billion </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> MindTickle wants to gain greater momentum in international markets MindTickle was founded by Krishna Depura, Mohit Garg, Deepak Diwakar and Nishant Mungali in 2011. It helps companies build sales capabilities. It also offers solutions for onboarding, micro-learning and skills development. MindTickle plans to use this funding to expand its presence in multiple verticals as well as markets like Europe and Asia. A part of the funding would also be used to acquire more companies and expand their technology stack, MindTickle’s chief executive officer (CEO) and cofounder Depura told Business Insider. “So a reasonable chunk of [the] money will go into global expansions, getting into more territories and geographies. The second amount [sic] will go into R&amp;D [research and development], which we’ll use to develop our stack. I think $100 million is a lot of money and it’s not like we’ll deploy the money in the next six months or one year. But it’ll give us sufficient power to plan for the next three-four years to set up our base and continue to think over the horizon,” Depura added. He also highlighted that the company has a good presence in India at the moment, especially in the automotive and pharmaceutical sectors. MindTickle will also use a part of the funding to go aggressive on hiring across geographies and functions. It has already hired over 100 employees in 2021 and has openings for 115 positions. The company has a workforce of 500 employees. MindTickle’s current clientele has already set its global presence This is SoftBank’s second investment in the Pune and San Francisco-based startup. The Japanese conglomerate had previously led MindTickle’s $100 million round raised in November 2020. Existing investors Norwest Venture Partners, Accel Partners, Canaan, NEA, NewView Capital, and Qualcomm Ventures had also participated in the round. The SaaS startup has raised over $281 million to date. Its clientele includes 200 enterprise companies like Johnson &amp; Johnson, Splunk, Wipro, Ola, Cloudera, Dabur and United Colors of Benetton. Its customer base includes a few dozen Fortune 500 and Forbes Global 2000 companies, which is an annual ranking of the top corporations worldwide measured by revenue. MindTickle claims to have presence in over 115 countries as its clientele has subsidiaries across the world. “We continue to be impressed by Mindtickle’s performance in creating and becoming a category leader in the sales readiness space. The product has become an essential part of any sales organisation and we are excited to support the company in its growth,” Munish Varma, managing partner with SoftBank Investment Advisers, said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/ipo-bound-ixigo-acquires-bus-ticketing-platform-abhibus-to-strengthen-its-footprint/articleshow/85062903.cms" data-type="tilCustomLink">IPO-bound ixigo acquires bus ticketing platform AbhiBus to strengthen its footprint</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days</a> <a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a>

MindTickle is the third SaaS firm from India to enter the unicorn club in 2021

<keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword>’s mobile wallet Amazon Pay is offering many offers to its Indian customers. For starters, <keyword id="4540939" type="UNKNOWN" weightage="20" keywordseo="Amazon-Pay-India">Amazon Pay India</keyword> is offering a 10% cash-back even on items returned. "Amazon is encouraging returns at sellers' cost and investment. Amazon should give equal incentive to the seller whose stock is being returned,” a spokesperson for the All India Online Vendors' Association (AIOVA) told ET. Amazon Pay India wants to have a share of the Indian digital wallet market and is offering cash-backs for users. For instance, a first-time user shopping for more than Rs 700 gets Rs 100 cashback as Amazon Pay balance. Sriram Jagannathan, Vice President Payments, <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>, told ET, “Our aim is to improve the digital payment experiences for customers buying on our marketplace...We provide offers to customers to try this experience.” The Amazon Pay offers are applicable not only for transactions on Amazon's own platform, but also on third-party Web sites such as abhibus. com. It also has tie-ups with vendors such as Café Coffee Day, Amar Chitra Katha, Innerchef, Fasoos, and Housejoy.

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