Shiprocket trims IPO size; Cresa’s creative fix for sanitary pad disposal
Shiprocket has reduced the size of its IPO by nearly 31% to Rs 1,617.6 crore, from Rs 2,342 crore. Meanwhile, Cresa makes hot-water-soluble sanitary pads that are 100% biodegradable, plastic-free, and dissolve in 80 seconds.
Indian deeptech sector sees funding surge with several startups securing significant investments. Climate-tech firm Mitti Labs raised $9.5 million in Series A led by Aramco Ventures, while Solinas Integrity secured $5.5 million from Hero Enterprise Partner Ventures and Mela Ventures. Mumbai-based investment house Piper Serica closed its first round of a Rs 800-crore Bharat Tech Fund, earmarked for startups in various technology sectors.
Indian cities are rapidly becoming data centre hubs, with Mumbai and Hyderabad ranking 15th and 27th globally in total operational capacity, respectively. E-commerce platform Shiprocket has trimmed its IPO size by 31% to Rs 1,617.6 crore, facing lower valuation expectations. Cresa introduces eco-friendly sanitary pads made from plant-based materials that dissolve in hot water, addressing waste disposal and menstrual stigma issues.
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