Startup Funding Highlights - September 2024

M&A – Merging & Acquisitions – Q3

During Q3, the activity of merging and acquisitions has reached substantial growth. As per the official data sources, the period registered 54 M&A deals totally.

The top deals are: Oyo purchased G6 Hospitality for $525 million & Checkmyguest for $27.4 million, Zomato acquired movies & ticketing business of Paytm for $244 million, Nazara acquired Pokerbaazi & kiddopia, Redcliffe Labs purchased Celara Diagnostics, the parent company of Radio Mirchi, ENIL acquired Gaana and HomeLane purchased Design Café.

Optimistic IPO Segment

Apart from the funding deals, IPO segment also showed optimism. Reported by axis Capital, the September month created a record as there are 41 companies submitted the IPO files with SEBI.

Key Deals: Electric two-wheeler manufacturer Ather Energy submitted its draft red herring prospectus (DRHP) to the Security Exchange Board of India (SEBI) in preparation for an IPO. Ather will be the second manufacturer of two-wheel electric vehicles to go public on the stock market. Ola Electric opened up to the world last month. Swiggy, the food delivery and quick commerce company, is set to raise Rs.5, 000 crore ($602 million) in a new issue as a part of its first sale of stock (Initial Public Offering).