We bring you the latest news stories from the Indian startup ecosystem
Two of the biggest announcements impacting the Indian startup ecosystem this week were IPOs by Salebhai and IndiaMART.
Ahmedabad-based etailer Salebhai will be issuing 22,59,600 shares, offering 26.58% of its equity in the market to raise $3.48 Mn (INR 23.73 Cr). The company has received in-principle approval from the Bombay Stock Exchange (BSE) to file its initial public offering (IPO).
On the other hand, Noida-based online marketplace IndiaMART will be offering over $4.28 Mn shares for sale through its IPO. The company will be going online and will be making its IPO debut.
Let’s have a look at some other important developments from the Indian startup ecosystem.
Important Indian Startup News Stories Of The Week
Reliance Industries Enters The Ecommerce Market With Hybrid Model
Reliance Industries Limited (RIL) has announced its foray into the ecommerce segment with a hybrid online-offline model. The announcement was made with an aim to create shared profitability by integrating the offline stores of three crore small retail players via Reliance Jio, RIL’S online platform.