• Business

    Indian skincare startup Mamaearth eyes $3 billion valuation in 2023 IPO – sources

    Sequoia Capital-backed Indian skincare startup Mamaearth is in talks to raise at least $300 million in a planned IPO next year and is seeking a valuation of around $3 billion, three people with direct knowledge of the company`s plans told Reuters. Founded in 2016, Mamaearth has become popular in India with its range of “toxin-free” products such as face washes, shampoos and hair oils. It competes with Unilever`s India unit, Hindustan Unilever, and Procter & Gamble Co in the booming personal care industry. The company was last valued at $1.2 billion in January this year when it raised fresh funds from investors including Sequoia and Belgium`s Sofina. Mamaearth is targetting…

  • Business

    PhonePe prepping for IPO; seeks valuation of USD 8-10 billion

    PhonePe, part of the Walmart Inc-controlled Flipkart group, is considering to raise funds through an initial public offering for expanding its financial services portfolio and deepening its core United Payments Interface (UPI)-based payments operations, investment banking sources said on Wednesday. The digital payment company is seeking a valuation of USD 8-10 billion, they added. According to the sources, the company will soon engage with bankers and legal consultants to take forward the IPO (Initial Public Offering) process. Also, the company has initiated plans to move its registered holding entity from Singapore to India, underlining its ‘made in India’ credentials. PhonePe’s board has already ratified the proposal to move the holding…