Paytm IPO makes 350 millionaires, Nykaa revenue, Zomato enters in MSCI📊

Paytm IPO to make 350 millionaires, Nykaa revenue grew 47% to Rs 885 crore, Zomato among nine new stocks in MSCI India, Funding Deals & more.

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Paytm IPO to make 350 current, ex-employees millionaires

The Rs 18,300 crore initial public offering (IPO) of Paytm-owner One97 Communications, a digital firm, has reportedly made 350 current and previous employees millionaires. These employees will individually now have a net worth of at least Rs 1 crore, according to a Reuters report.

The recent share sale has made Paytm the largest fintech IPO in the Asia Pacific Region. The IPO was open for subscription from November 8 to 10. The shares of the company are expected to list on the BSE and NSE next week. After the recent spike in valuation, several employees sold shares to the tune of around Rs 100 crore.

Paytm has always been a generous paymaster. Vijay (Sharma, the Paytm founder) has always wanted that people make money, they move up in life”, an employee said.

Around 47 current employees working in the company, offloaded shares in the parent company recently. They wanted to explore this opportunity to use their employee stock options as Paytm’s valuation reached $4.8 billion last year.

Nykaa revenue grew 47% to Rs 885 crore for quarter 2 as profits declined

Online beauty retailer Nykaa reported a consolidated net profit of ₹1.2 crores for the quarter ending September 2021, down 95% from ₹27 crores reported in the same quarter last year.

Its revenue from operations increased to ₹885 crores with a growth of 47% on a year-on-year basis and 8% on a sequential basis.

Monthly average unique visitors during the quarter increased to 21 million with year-on-year growth of 62% in the beauty and personal care vertical and to 16 million with YoY growth of 328% in fashion vertical.

Shares of Nykaa, made a stellar stock markets debut recently on Wednesday, 10 November. The stock was listed at ₹2,018, a 79.37% premium over its issue price of ₹1,125 apiece.

On Friday, ahead of the results, Nykaa shares were up 5.26% to close at ₹2,329.95 apiece on NSE.

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Zomato among nine new stocks in MSCI India Index from December

Zomato is set to enter the MSCI India index at the end of this month, barely months after the food-tech firm became the first consumer internet startup to list on the national stock exchanges after a blockbuster debut.

The other new entrants will be SRF, Tata Power, Mindtree, Godrej Properties, IRCTC, Mphasis, Bharat Electronics and Bajaj Holdings. This follows the November semi-annual index review by global index services provider MSCI.

The global index provider MSCI (Morgan Stanley Capital International) rebalances its indices semi-annually and quarterly.

The changes will be implemented after the November 30 close. Analysts are expecting an inflow of about $1.4 billion from passive funds into these nine stocks. After the change, the count of Indian stocks in the MSCI Standard Index will increase to 108 from 101.

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