Gurugram-based Prudent Equity has launched its first growth strategy Portfolio Management Service (PMS) aimed at long-term capital appreciation. With a minimum investment of Rs 50 lakh, the fund targets HNWIs and UHNWIs, leveraging a value investing approach. Prudent Equity aims to reach Rs 250 crore in AUM by 2025.
Singapore-based investment platform Syfe secured $27 million in funding led by Valar Ventures and Unbound, bringing its total raised to $79 million. The funds will drive growth across Asia, with a focus on new products and expanding the tech team at its Gurugram headquarters.
Gaming and sports media company Nazara Technologies saw a marginal 6.06% decline in operating revenue to Rs 250 crore in Q1 FY25. However, the firm’s profit surged by 38.53% to Rs 23.62 crore, largely due to reduced expenses and lower deferred tax.
IPO-bound hospitality firm Oyo reported a Rs 230 crore profit in FY24, a significant turnaround from Rs 1,286 crore losses in FY23. Despite the profit, Oyo’s revenue slightly declined by 1.4% to Rs 5,389 crore compared to the previous fiscal year.
Logistics firm Ecom Express has gained board approval for an IPO worth Rs 2,600 crore, comprising a Rs 1,284 crore fresh issue and a Rs 1,316 crore offer for sale. Major investors like Warburg Pincus are expected to participate. The company previously delayed an IPO in 2022.
Ola Electric’s Q1 FY25 revenue increased by 2.9% to Rs 1,644 crore, with losses reduced by 16.6% to Rs 347 crore. The company’s revenue primarily came from electric scooter sales. Cost-cutting measures contributed to the improved financials, while Ola maintained a leading 39% market share in the electric two-wheeler sector.
Online travel aggregator Yatra saw a 6.4% revenue decline in Q1 FY25, dropping to Rs 100.8 crore from Rs 107.67 crore in Q4 FY24. Profits plunged 27.5% to Rs 4.4 crore. The company spent heavily on employee benefits and other costs, impacting its overall financial performance.
Ather Energy, the Bengaluru-based electric scooter manufacturer, has joined the unicorn club with a $71 million investment from the National Investment and Infrastructure Fund (NIIF), valuing the company at around $1.3 billion. This comes after raising over $125 million in the past three months, signaling a potential IPO.
True Balance, initially a mobile recharge platform, saw its revenue soar to Rs 667 crore in FY24 after shifting focus to lending in FY21. This marks a 74X growth from FY19’s Rs 8.95 crore, driven by its entry into personal loans and securing its own NBFC license.
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