In today’s briefing:
- Radiant Cash Management IPO: A Bland Mix
- Tata-owned BigBasket adds $200m funding to cart
Radiant Cash Management IPO: A Bland Mix
- Radiant Cash Management Services (1926794D IN) has come up with INR 3.9 bn IPO which includes fresh issue to the tune of INR 600 mn.
- In spite of being one of the largest players in the retail cash management segment, there are few cautions one must take note of.
- These primarily include related party transactions with promoters, concentration risk and few industry related restraints
Tata-owned BigBasket adds $200m funding to cart
- BigBasket, an India-based online grocery player owned by conglomerate Tata Sons, has raised US$200 million at a US$3.2 billion valuation, the platform’s co-founder and CEO Hari Menon told Tech in Asia.
- Founded from a small office in Bengaluru in 2011 by Menon and four other partners, V S Sudhakar, Vipul Parek, Abhinay Choudhari, and V S Ramesh, BigBasket was acquired by Tata Sons through its subsidiary Tata Digital in 2021.
- Largely focusing on online grocery, BigBasket has also expanded to quick commerce via BB Now and subscription-based service via BB Daily.
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