Indian quick commerce startup Zepto is planning to raise approximately Rs 1,500 crore (around $176 million) through a structured private credit deal to boost Indian ownership ahead of its initial public offering (IPO). The founders, Aadit Palicha and Kaivalya Vohra, are personally taking on this debt, which offers investors yields of up to 16%, with financial institutions including Edelweiss involved in the transaction. This move is aimed at strengthening domestic control of the company as it prepares for its public listing. Separately, in the Indian market, private equity firms Advent, Bain Capital, and TPG are showing interest in Whirlpool India as its US parent company plans to sell a 31% stake. Whirlpool's stock has risen 33% in April, reflecting investor enthusiasm. Additionally, Reliance Industries and Bharti Group are competing for a stake in Haier India, signaling strategic expansion efforts in the consumer appliances sector.
#MCTech3Podcast | In today’s Tech3 from Moneycontrol, 🚨Big Tech companies face a steeper tax burden in India as settlement payments lose their deductible status. 👉Infosys lets go of nearly 200 more trainees amid sluggish demand. 👉Urban Company files for a blockbuster IPO https://t.co/cOTglrpnOG
🚨 ETtech #Top5 | @urbancompany_UC founders sell stock; @alibaba_cloud ups #AI ante Also in the letter: ■ @Paytm gaming unit gets served ■ More @Infosys trainees let go ��� Wall Street banks X off debt https://t.co/q9TkvNaVIK
Zepto reportedly seeks $176m via private credit deal https://t.co/pTvLYM8Qla