IPOs - Captivating, Calculative, & Catchy Approach for Startups to Grow

Outstanding Plans & Remarkable Performances by Startups in IPOs 2024

Rubrik

Rubrik, a data security and cloud startup backed by Microsoft has filed for an IPO and revealed the plans to elevate funds around $713 million through the initial public offerings. In an official statement, the startup has conveyed its intent to sell the shares worth 23 million for $28 to $31 each. According to the documents filed in US Securities and Exchange commission, the startup added 500,000 shares to IPO.

Based on the outstanding shares listed in the IPO filings, Rubrik has market value of around $5.6 billion. Comprising all the stock options and limited share units, the valuation of the startup stood at more than $6.6 billion.

Established in 2013, Rubrik launched its first product in 2016 and now the startup holds over 6100 consumers and the rate of retention was 133 percent. Global Tech Giant, Microsoft entered Rubrik in 2021 as an investor which turned the startup’s valuation about $4billion in 2021.

MobiKwik

Mobikwik, a new-age digital payments solutions providing startup announced that they are all set to rise over Rs. 880 crore through a fresh issue of equity shares in an initial public offering. As the buzzing companies including MamaEarth, Paytm, Zomato, and Nykaa have been proving good performance in the public markets, this significant step by MobiKwik comes with a bolstered confidence.

This is the startup’s second attempt in IPO as it filed a DRHP – Draft red herring prospectus in 2022. As well, the startup scheduled to lift up Rs. 1,900 crore in IPO listing which includes Rs.1, 400 crore fresh issues and Rs. 500 crore worth sale offer.

Bluestone

Bluestone, an Omni channel Jewelry startup under talks to raise over $100 million in a Pre-IPO round which is likely projected to spur the startup’s valuation to more than $1 billion and propel the jewelry startup to join the Unicorn club.

This IPO round would be estimated to increase the company’s previous valuation in 2023 into twofold of around $450 million. Meanwhile, the startup’s physical stores have gained $65 million from cluster of investors such as Deepinder Goyal, Founder of Zomato and Nikhil Kamath, Founder of Zerodha.

Swiggy

A prominent instant food delivery startup in India, Swiggy unveiled its strategic plan to raise $1.25 billion in IPO as they already gotten green signal from its existing investors. Further, the startup charted a plan to elevate $450 million through the new shares. According to the company’s statement filed with the Ministry of corporate affairs, Swiggy intends to offer huge shares worth $800 million from its current investors in IPO.

The startup clocks around 45.8 percent of the food delivery market of India with a GMV of $2.57 billion in 2023 through core operations. Swiggy serves around 16 million to 17 million users and operates with a system of 375,000 delivery partners.