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The public issue of Meesho saw strong investor interest on the first day of bidding and was oversubscribed 2.35X. It received bids for 65.4 Cr shares against 27.8 Cr shares on offer. Retail investors showed the highest interest in the IPO, with the portion reserved for them getting oversubscribed 3.86X. They placed bids for 19.7 Cr shares as against 5.1 Cr shares reserved for them. The NII portion was oversubscribed 1.80X, getting bids for 13.8 Cr shares against 7.7 Cr shares on offer. Within this, investors with a bidding amount of over INR 10 Lakh applied for 7.9 Cr shares, while those bidding between INR 2 Lakh to INR 10 Lakh applied for 5.9 Cr shares. Meanwhile, after a slow start, the QIB portion was also oversubscribed 2.12X. They placed bids for 31.9 Cr shares as against 15 Cr shares reserved for them. Under the QIB section, foreign institutional investors placed bids for 56.5 Lakh shares. Original | December 03, 12:52 IST Ecommerce major Meesho’s IPO got off to a strong start, with retail investors’ portions fully subscribed within a few hours. The issue was subscribed 52% as of 12:05 IST, with investors bidding for 14.56 Cr shares against 27.79 Cr shares on offer. Retail investors placed bids for 9.92 Cr shares against 5.1 Cr shares reserved for them, translating to 1.95X subscription. Non-institutional investors (NIIs) bid for 4.6 Cr shares against 7.6 Cr shares on offer. The portion reserved for them was subscribed 60%. However, the response of qualified institutional buyers (QIBs) was muted on the first day, as they placed bids for a mere 3.2 Lakh shares against 15.03 Cr shares reserved. Following its public issue, Meesho will become the first horizontal ecommerce player to list on the exchanges. Its IPO comprises a fresh issue of INR 5,421 Cr and an OFS component of 10.6 Cr shares. It has set a price band of INR 105-111 for the issue, targeting a valuation of INR 50,000 Cr (about $5.5Bn) at the upper end of the spectrum. The ecommerce major raised INR 2,439.5 Cr from anchor investors yesterday. Meesho claims to be India’s largest ecommerce platform by customer base and order volume. The company operates on an asset-light and zero-commission model. CEO and cofounder Vidit Aatrey told Inc42 said that the company will continue to focus on scaling advertising revenue and has no plans to start charging commissions to sellers. On the financial front, Meesho’s consolidated net loss narrowed 27% to INR 701 Cr in the first half (H1) of the fiscal year 2025-26 (FY26) from INR 2,513 Cr loss in the year-ago period. Revenue from operations grew 29% to INR 5,578 Cr from INR 4,311 Cr in H1 FY25. With a proposed valuation of INR 50,000 Cr, Meesho is going public at a time when liquidity is shifting, big IPOs are crowding the market and investors are gradually warming up to fast-growing, loss-making internet companies. SUMMARY Retail investors showed the highest interest in the IPO, with the portion reserved for them getting oversubscribed 3.86X The QIB portion was also oversubscribed 2.12X, getting bids for 31.9 Cr shares as against 15 Cr shares reserved Meesho’s IPO comprises a fresh issue of INR 5,421 Cr and an OFS component of 10.6 Cr shares
Union Home and Cooperation Minister Amit Shah announced in Parliament that a new government-backed ride-hailing platform, Bharat Taxi, is scheduled to launch next month. He explained that the initiative is designed around principles of cooperation, transparency, and collective ownership, positioning it as a citizen-focused alternative to existing private cab services. Once the necessary approvals are completed, the rollout is expected in January 2026. In his written statement to the Lok Sabha, Shah highlighted that the app aims to reduce drivers’ reliance on private aggregators and allow them to retain the full income from each trip. He also noted that the cooperative society managing the service - Sahkar Taxi Cooperative Ltd. (STCL) - will share profits directly with registered drivers. The minister outlined several features of the upcoming app, including a multilingual interface, real-time vehicle tracking, and round-the-clock customer support. The platform will also emphasize secure onboarding, transparent fares, inclusive mobility options, and technology-driven safety measures. The service has already undergone pilot testing, beginning with a rollout at Delhi International Airport on November 10, followed by an introduction in Rajkot, Gujarat. Early adoption has been strong, with more than 37,000 drivers registered by the end of November. Government plans reportedly include expanding Bharat Taxi to major metro cities by March 2026, with a longer-term goal of onboarding 100,000 drivers by 2030.SUMMARY Home minister Amit Shah said that the new app will look to free the country's commercial vehicle drivers from their dependency on private companies Speaking about the features of the new service, Shah added that the app will support a multilingual interface, vehicle tracking and 24/7 customer service This comes a month after the Centre began piloting the new offering last month, first at the Delhi International Airport and then in Gujarat’s Rajkot
D2C furniture and mattress brand Wakefit has announced the price band for its upcoming IPO, scheduled to open on December 8, at INR 185–195 per share. At the upper end of the band, the IPO will value the company at INR 6,373 Cr (approximately $710 Mn). Anchor bidding is set for December 5, while the issue will close on December 10. The shares are expected to list on the exchanges on December 15. The public issue includes a fresh issue worth INR 377.2 Cr and an offer for sale (OFS) of up to 4.68 Cr equity shares. At INR 195 per share, the total issue size will stand at INR 1,289 Cr (around $143.6 Mn). Prior to the IPO, Wakefit completed a private placement of 28.7 Lakh shares at INR 195 each, raising INR 56 Cr. Promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors Peak XV Partners, Nitika Goel, Redwood Trust, SAI Global India Fund I, Paramark, and Verlinvest, will divest shares through the OFS portion of the IPO. The proceeds from the fresh issue will be utilized to establish 117 new stores, pay licence fees for existing outlets, acquire new equipment and machinery, and fund marketing and advertising initiatives. Founded in 2016 by Garg and Ramalingegowda, Wakefit offers products including mattresses, pillows, bed frames, and mattress protectors, with a catalog of 3,070 SKUs aimed at enhancing customer sleep experiences. Operating through an omnichannel model, Wakefit sells both online and via retail stores. The company targets expanding to nearly 220 stores by FY28 and also partners with ecommerce platforms such as Amazon and Flipkart to distribute its products.Wakefit has raised more than $148 Mn from investors such as Peak XV, Investcorp, Verlinvest and SIG, among others. On the financial front, Wakefit’s operating revenue stood at INR 724 Cr in the first half of financial year 2025-26, while net profit was at INR 35.6 Cr. In FY25, the company’s net loss widened 2.3X to INR 35 Cr from INR 15 Cr in the previous year. Revenue from operations rose 29% YoY to INR 1,273.7 Cr. SUMMARY: At the upper end of the price band, the IPO values the company at INR 6,373 Cr (about $710 Mn) At INR 195 per share, the total size of the issue will be INR 1,289 Cr (about $143.6 Mn) Wakefit has raised more than $148 Mn from investors such as Peak XV, Investcorp, Verlinvest and SIG, among others
Introduction At just 19 years old, Mumbai’s Dhravya Shah has made waves in the tech world by securing ₹23 crore in seed funding for his AI startup, Supermemory. With a vision to revolutionize how AI models remember and use information, Shah’s venture has attracted backing from some of the biggest names in global technology. From IIT Aspirations to AI Ambitions Early Years and First Success Initially focused on cracking the IIT entrance exam, Shah’s passion quickly shifted to coding and building consumer bots. One of his creations gained significant popularity and was sold to Hypefury, a social media tool—his first major tech exit. Journey to the US With proceeds from this sale, Shah moved to the United States to attend Arizona State University. However, driven by his entrepreneurial spirit, he soon decided to drop out and dedicate himself full-time to developing his AI startup. The Making of Supermemory Innovation During the Pandemic During the COVID-19 pandemic, Shah convinced his parents in Mumbai to invest in a laptop that became his gateway to a world of innovation. He committed to creating something new every week for 40 weeks, fueling the birth of Supermemory. What Sets Supermemory Apart? Supermemory evolved from a simple tool to chat with Twitter bookmarks into a cutting-edge AI system capable of extracting insights from unstructured data such as emails, chats, and documents. Its unique memory functionality enables AI applications—from email clients to video editors—to understand and remember users’ contexts, enhancing performance and user experience. Backing from Tech Titans The startup’s seed round saw investment from industry heavyweights, including Google AI’s Jeff Dean, DeepMind’s Logan Kilpatrick, and investors affiliated with OpenAI, Meta, Cloudflare, and Sentry. Lead investors included Susa Ventures, Browder Capital, and SF1.vc. Real-World Impact Supermemory’s advanced AI capabilities are already being embraced by companies like Cluely, Montra (an AI video editor), and Rets (a real estate startup), all leveraging its insights-driven technology to transform their digital products. Conclusion Dhravya Shah’s journey from a determined Mumbai student to a tech founder backed by global leaders embodies the power of innovation, resilience, and bold vision. His story inspires a new generation to dream big, build boldly, and reshape the future with technology.
Ajeet Bharti, an influential YouTuber and media personality, recently found himself at the center of controversy after remarks made about the Chief Justice of India, BR Gavai. The incident has sparked widespread debate over social media responsibility, public discourse, and freedom of expression in India. Introduction In the fast-paced digital era, public figures can influence opinions and shape narratives at an unprecedented scale. Ajeet Bharti, known for his outspoken style, emerged as a key personality among India’s digital creators. However, recent comments pertaining to the Supreme Court and its Chief Justice have ushered in new public scrutiny and raised important questions about online activism and boundaries. Who is Ajeet Bharti? Ajeet Bharti hails from Begusarai, Bihar, and wears many hats—journalist, author, and online influencer. With over 500,000 followers on X (formerly Twitter) and more than 700,000 subscribers on YouTube, Bharti has established a significant presence in India’s digital media landscape. His audience follows him for his forthright commentary on politics, society, and news. The Shoe-Hurling Incident The controversy began when a 71-year-old advocate, Rakesh Kishore, attempted to throw a shoe at Chief Justice BR Gavai inside the Supreme Court. The situation was quickly brought under control by staff. In the aftermath, Bharti’s recent remarks about the Chief Justice surfaced on social media. Clips from his discussion featuring provocative statements fueled speculations that he had incited the attack or celebrated it as a win for “Hindu pride”. Scrutiny Over Remarks Bharti’s video featured harsh criticism targeting the Chief Justice, mocking his capabilities and expressing satisfaction over the incident. He referred to Gavai as an “undeserving judge” and joked about a “contempt case.” His comments on the judge’s background further stoked controversy, sparking outrage and debate across platforms. Police Response and Social Media Reactions Following waves of rumors, reports circulated that Bharti had been arrested or taken into custody. These claims were swiftly denied by Noida police, and Bharti himself addressed his followers through X, confirming his safety and insisting that such scrutiny was “a part of a journalist’s life.” Although he was questioned by authorities about his comments, no official action was taken as of the latest update. Previous Controversies Ajeet Bharti is no stranger to public attention. He has been previously criticized for making objectionable remarks about political leaders, including Rahul Gandhi, which generated similar backlash and debate online. Conclusion The situation surrounding Ajeet Bharti is a poignant example of how social media dialogue can spill over into real-world events, prompting legal inquiries and public debate. As authorities continue to monitor online activity, the conversation around freedom of speech, digital influence, and social responsibility becomes ever more relevant. Currently, Bharti remains active on social media, addressing his audience and continuing his role as a prominent figure in India’s online discourse.
