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Friday, December 19, 2025

What Are You Looking For?

AgriTech AI AirTech All News Apple Artificial Intelligence AviationTech B2B BeautyTech Blockchain

Recent

35+ Mac apps – build your own bundle from $2.50
Issue Subscribed 5% On Day 1 So Far
Lehar Footwears announced H1FY26 and Q2FY26 results, Reports Strong Revenue and PAT Growth
Grab to invest $60m in Vay’s remote-driven EV service
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What Are You Looking For?

AgriTech AI AirTech All News Apple Artificial Intelligence AviationTech B2B BeautyTech Blockchain

Recent

35+ Mac apps – build your own bundle from $2.50
Issue Subscribed 5% On Day 1 So Far
Lehar Footwears announced H1FY26 and Q2FY26 results, Reports Strong Revenue and PAT Growth
Grab to invest $60m in Vay’s remote-driven EV service
AirTech

Drone startup ideaForge files DRHP with SEBI for IPO

Idea for a Qualcomm-backed drone startup Forge has reportedly filed its draft red herring prospectus (DRHP) for an initial public offering with market regulator Securities and Exchange Board of India (SEBI) (IPO).

According to reports, the public offering will include a fresh issue of shares worth INR 300 crore and an offer for sale (OFS) of nearly 48.7 lakh shares. Among the investors in the OFS are promoter group entities, Qualcomm, and venture capital firms. The IPO proceeds would be used to reduce debt, meet working capital needs, and fund product development.

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Reliance Jio Set to Overtake Airtel in Global Market Cap Rankings After IPO, Say Analysts
by Team SNFYI

Mukesh Ambani’s Reliance Jio is poised to become the sixth most valuable telecom company in the world following its planned IPO, potentially overtaking Bharti Airtel, which currently holds that position with a $135 billion market cap. As per Business Standard, analysts estimate Jio’s enterprise value could reach between $136 billion and $154 billion, driven by its core telecom services and diversified ventures like Jio Broadband, Jio Satellite, Saavn, Haptik, and Asteria Aerospace. Jefferies and Goldman Sachs place Jio’s valuation at $136 billion and $154 billion respectively, positioning it ahead of giants like Comcast, China Telecom, and SoftBank. So far, Jio has raised over ₹152,000 crore from global investors including Facebook, Google, and KKR, who hold nearly 33% in the company. While speculation over the IPO builds, Reliance has not disclosed a timeline. In Q4 FY25, Jio reported ₹172 billion in EBITDA, with subscriber growth and increased ARPU helping it slightly beat revenue expectations. Management hinted that further benefits from last year’s tariff hike would be seen in Q1 FY26. With strong investor backing and consistent growth, Jio is primed to disrupt global telecom rankings upon listing.

AirTech
MS Dhoni Backed Drone Startup Garuda Aerospace Secures ₹100 Crores in Series B Funding from Venture Catalysts to Propel Indigenous Drone Manufacturing and Innovation
by Team SNFYI

Garuda Aerospace, India’s most valuable drone startup, has successfully raised ₹100 crores  in its Series B funding round from Venture Catalysts (VCAT), at a valuation of $250 million. This strategic infusion of capital marks a major milestone in Garuda Aerospace’s mission to bolster indigenous drone manufacturing and innovation. The fresh funds will significantly enhance the company’s capabilities in producing drone systems. The funds will also be allocated in scaling up its current production facility and fast-tracking the completion of a cutting-edge R&D and testing center dedicated to advanced defense drone design. This development not only strengthens Garuda Aerospace’s position in the Indian aerospace ecosystem but also aligns with the nation’s broader vision of achieving self-reliance in high-tech defense manufacturing.  Currently holding a robust portfolio of over 20+ patents, Garuda Aerospace has demonstrated a strong commitment to innovation and technological excellence in the fast-evolving drone sector. A dedicated portion of the newly secured funds will support the expansion of its intellectual property portfolio, further solidifying its position as a trailblazer in drone innovation and utilizing the funds towards producing a new design facility as well. This initiative underscores Garuda Aerospace’s strategic role in enhancing India’s defense and security capabilities through the development of cutting-edge, domestically engineered drone systems. Garuda Aerospace will continue to contribute meaningfully to the Atmanirbhar Bharat mission. Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace, said, “This Series B funding is a defining milestone in Garuda Aerospace’s growth journey. It not only strengthens our capacity to scale manufacturing and innovation but also positions us to accelerate the development of next-generation drones technology. As we prepare for global growth expansion journey, this investment reinforces our commitment to building world-class, indigenous drone technologies that contribute to India’s economic progress, self-reliance in defense, and technological leadership on the global stage.” Dr. Apoorva Ranjan Sharma, Co-founder and Managing Director of VCAT, said, “We are immensely proud to lead this landmark Series B funding for Garuda Aerospace. This investment is closely aligned with our strategy of supporting homegrown champions that have the potential to transform India’s technological landscape and create significant socio-economic impact. The role Garuda is playing in strengthening India’s indigenous defense manufacturing ecosystem, while also creating a global footprint, is something that truly excites us. We firmly believe that in the years to come, Garuda Aerospace will emerge as a global leader in drone technology, making India the drone hub of the world by 2030.” Garuda Aerospace’s successful Series B funding of ₹100 crores signifies strong investor confidence in the company’s vision, technological prowess, and growth potential within the burgeoning Indian drone market. The Indian drone market is experiencing exponential growth, driven by increasing applications across agriculture, infrastructure, logistics, surveillance, and defense. With the government’s strong emphasis on promoting drone adoption and indigenous manufacturing through initiatives like the Drone Rules 2021 and the Production-Linked Incentive (PLI) scheme, the market presents a substantial opportunity. Garuda Aerospace has established a robust business model encompassing drone manufacturing, drone-as-a-service (DaaS) offerings, and pilot training. The …

IPO
Patanjali Ayurved acquires stake in Magma General Insurance with SNG & Partners’ legal expertise
by Team SNFYI

Drug maker Allchem Lifescience has filed preliminary papers with markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The Gujarat-based company’s proposed IPO comprises fresh issue of equity shares aggregating up to Rs 190 crore and an offer for sale (OFS) of 71.55 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP).  Those selling shares in the OFS are Kantilal Ramanlal Patel and Manisha Bipin Patel.  At present, promoters and promoter group entities hold 100 per cent stake in the company.  In its draft papers filed on Friday, Allchem Lifescience proposes to utilise proceeds from the fresh issue worth Rs 130 crore towards debt payment, while a portion will be used for general corporate purposes as well as to support the business requirements of the company.  AdvtIncorporated in 2017, Allchem Lifescience is an Indian manufacturer of active pharmaceutical ingredients (API) intermediates and speciality chemicals.  It specialises in the production of key starting materials (KSMs), generic API intermediates and specialty chemicals.  The company is a key player in manufacturing piperazine derivatives, which are critical raw materials for producing APIs like quetiapine, which is used in treating schizophrenia and bipolar disorder.  Over the years, Allchem Lifescience has developed the ability to manufacture 263 products which demonstrates their strong focus on different chemistries in organic chemical compounds.  The company’s focus has been to identify potential demand for products, in particular, products that are difficult to source in India or which being import substitutes are not easily available, develop such products and scale up production once the demand is in place.  The company has a manufacturing facility in Vadodara, Gujarat.  Allchem Lifescience caters to prominent domestic and international customers, including Alembic Pharmaceuticals, Bond Chemical, Indoco Remedies, Micro Labs, MSN Laboratories, Nagase India, Neogen Chemicals, Neuland Laboratories, and Unichem Laboratories.  As of December 2024, the company served customers across 13 states in India and 22 countries overseas. As of FY24, it had 148 customers in India and 66 customers overseas.  AdvtOn the financial front, the company’s revenue from operations has grown at a compound annual growth rate (CAGR) of 12.75 per cent between FY22 and FY24. The revenue figures for the six months ended September 30, 2024 was at Rs 7.84 crore.  Additionally, the profit after tax (PAT) has grown at a CAGR of 28.65 per cent from March 31, 2022, to March 31, 2024. The PAT figures for the six-month ended September 2024 stood at Rs 1.09 crore. Source Link

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