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Infra.Market’s backdoor listing; Honasa posts record profit Want this newsletter delivered to your inbox? Accel-backed B2B unicorn Infra.Market to reverse list via merger with Shalimar
Infra.Market’s backdoor listing; Honasa posts record profit Want this newsletter delivered to your inbox? Accel-backed B2B unicorn Infra.Market to reverse list via merger with Shalimar Paints Shalimar Paints' board approved a share-swap deal with Infra.Market, under which its shareholders will receive newly issued equity and preference shares in Shalimar. Infra.Market owns a 52.9% stake in Shalimar Paints and is a promoter entity. Infra.Market's domestic shareholders, including founders Aaditya Sharda and Souvik Sengupta, and investors Nikhil Kamath and Ashish Kacholia, will own 77% of the listed company.
Shalimar Paints will also raise Rs 1,000 crore through a qualified institutional placement (QIP). Mamaearth parent Honasa Consumer posts record profit of Rs 90 crore in Q1 Profit after tax (PAT): Up 116.5% YoY at Rs 90 crore, vs Rs 41 crore a year earlier. Up 116.5% YoY at Rs 90 crore, vs Rs 41 crore a year earlier. Revenue: Up 27% YoY at Rs 756 crore vs Rs 595 crore. Up 27% YoY at Rs 756 crore vs Rs 595 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda): Up 140.7% YoY at Rs 110 crore, compared to Rs 46 crore.
FirstCry reports 13% growth in revenues, cuts losses by 34% in Q1 Revenue: Up 13% YoY at Rs 2,106 crore, compared with Rs 1,863 crore. Up 13% YoY at Rs 2,106 crore, compared with Rs 1,863 crore. Loss: Down 34.3% YoY at Rs 44 crore vs Rs 67 crore. Down 34.3% YoY at Rs 44 crore vs Rs 67 crore. Expenses: Up 12% YoY to Rs 2,046 crore from Rs 1,829 crore.
Amagi net profit surges 8x to Rs 34 crore in Q1 AI startup Cognition in new funding talks at $40 billion value Mirae Asset Venture raises Rs 1,125 crore in first close of new India-dedicated fund UPI costs Rs 20,700 crore, government allocation just Rs 2,000 crore: Parliament panel UPI fee should vary by merchant size and sector: PayU India CEO ETtech Explainer: Why are dark stores again under scrutiny over food safety
The BriefWire