1947 Tech 🇮🇳: 165

Overseas listing, OYO planning to go IP0, 23 unicorns in 2021 & more

1. Indian start-ups, investors, exhort PM to allow overseas listings

Inability to list is a major impediment to the growth ambitions of startups and also a reason why many of them are moving their base overseas, reads the letter to the PM.

Prominent Indian startups, investors and investment advisors have urged Prime Minister Narendra Modi to allow startups to directly list abroad. The signatories to the letter include unicorns such as Byju’s, Swiggy, Cred, Bharat Pe, and Urban Ladder, and heads of many investment firms who have invested in Indian startups.

The signatories called it the “single most significant big bang reform for the startup ecosystem”. An overseas direct listing would raise the profile of these startups, make a greater capital pool available to them, and allow specialized investors to invest in these companies, especially in sectors such as software-as-a-service, insurance technology, business to business logistics, genomics, and biotechnology, they said.

Indian start-ups, investors, exhort PM to allow overseas listings

2. Oyo aims for India IPO in 2021

Oyo Hotels and Homes will soon join the list of startups launching an initial public offering (IPO) in the country.

Internally, the hospitality company has set a timeline of September for filing its IPO prospectus and wants to be a public company before the calendar year ends, people aware of the development said.

Oyo has initiated talks with multiple bankers including JP Morgan, Citi and Kotak Mahindra Capital to manage its public issue, they said.

Its IPO plans come at a time when the Indian public market seems to be bullish on startup IPOs following Zomato’s public offer.

Paytm, PolicyBazaar, Nykaa, Mobikwik and CarTrade are in various stages of going public in India after having filed their DRHP over the last few months.

Oyo aims for India IPO in 2021

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Podcast 🎙

Shiva Singh Sangwan @shivassangwan

1947 Rise 005 ☀️ Masterclass by @tejeshwi_sharma on the evolution of the Indian tech ecosystem. 2008–2014: Found the product-market fit  2015–2019: Indian tech companies can scale  2020 - 2025: Sustainability and reaching profitability

anchor.fm5: Tejeshwi Sharma (Sequoia Capital) by 1947 Rise • A podcast on AnchorTejeshwi Sharma is the managing director at Sequoia Capital India. He has led investments in companies like Byju’s, Dream11, Bounce, CRED, Moglix, Purplle, Rebel Foods, Whatfix, Unacademy. SHOW NOTES The journey from growing up in India to moving to the US and then moving back to India (1:00) Ove…

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Worth your attention:

1. India’s Infra.Market valued at $2.5B in Tiger Global-led $125M funding Link

2. upGrad enters unicorn club with a $1.2 billion valuation Link

3. SoftBank funding turns India startup Mindtickle into unicorn Link

4. CoinDCX becomes India’s first crypto unicorn with $90 million fund raise Link

5. Nubank co-leads $45 million investment in Indian neobank Jupiter Link

6. Sequoia Capital pockets around $230 Mn via partial exit from Pine Labs Link

7. India’s Supreme Court rules in favor of Amazon to stall $3.4B Future and Reliance deal Link

8. Why India’s unicorns are turning venture capital investors Link

9. Chiratae Ventures closes its largest fund at $337 million Link

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