City Firm prepares for public debut; India’s semiconductor chip revolution

Whats up,

It’s September already, and what’s beckoning? The festive season!

Foodtech giants Swiggy and Zomato, anticipating greater order volumes throughout the festive months, have determined to hike their platform charges to money in on the push. 

Whereas Swiggy has elevated its platform payment to Rs 15 per order, its highest to this point, Everlasting—the guardian of meals supply large Zomato and quick-commerce app Blinkit—has raised the payment on meals orders to Rs 12, a 20% enhance.

In the meantime, OpenAI made a brand new acquisition with experimentation-platform firm Statsig. It additionally onboarded its founder, Vijaye Raji, because the CTO of its functions unit, the place he’ll lead product engineering for ChatGPT and Codex and obligations spanning core techniques and product traces.

In different information, glow-in-the-dark crops are not present in science fiction. Because of a gaggle of Chinese language scientists, we now have the primary multi-coloured and brightest-ever luminescent crops.

Avatar is coming to life! 

In as we speak’s e-newsletter, we are going to discuss 

• City Firm’s Rs 1,900-Cr IPO
• India’s semiconductor chip revolution
• Leveraging tech for smarter logistics

Right here’s your trivia for as we speak: Which Spanish artist was questioned when Leonardo da Vinci’s Mona Lisa was stolen in Paris in 1911?

IPO

Inside City Firm’s Rs 1,900-Cr IPO

City Firm has filed for a Rs 1,900 crore preliminary public providing (IPO), comprising a Rs 472 crore recent problem and a Rs 1,428 crore supply on the market by current buyers, together with Accel, Bessemer Enterprise Companions, Elevation Capital, Tiger World, and Vy Capital. 

The problem will open on September 10 and subsequently shut on September 12. The corporate’s shares will checklist on each the BSE and NSE.

Key takeaways:

• India’s largest home-services market has set the value band for its upcoming IPO from Rs 98 to Rs 103 a share.
• The IPO comes at a time when the corporate’s backers are in search of multi-fold good points. Founders Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan—who every maintain about 9.77 crore shares acquired at negligible price—now see their stakes valued at greater than Rs 1,000 crore every.
• City Firm’s income climbed from Rs 656.6 crore in FY23 to Rs 885.9 crore in FY24, earlier than surging to Rs 1,373.5 crore in FY25. The corporate reported a internet revenue of Rs 135 crore in FY25.

Funding Alert

Startup: Seekho

Quantity: $28M

Spherical: Sequence B

Startup: PlatinumRx

Quantity: $6M

Spherical: Sequence A

Startup: StockGro

Quantity: Rs 50 Cr

Spherical: Debt

Interview

India’s semiconductor chip revolution

Because the world grapples with fractured provide chains and an ever-growing demand for chips, India is stepping firmly into the worldwide semiconductor race. The nation is internet hosting certainly one of its most important know-how conferences, SEMICON India 2025, in Delhi between September 2 and 4.  

“This is essential for all of us, for our future: SEMICON is occurring,” stated Amitesh Kumar Sinha, Further Secretary, MeitY and CEO of India Semiconductor Mission, in a dialog with Shradha Sharma, Founder and CEO of YourStory.

Constructing an ecosystem:

• SEMICON India 2025 noticed participation from over 350 firms from the nation pavilions of Singapore, Malaysia, Japan, and South Korea. Six nation roundtables introduced collectively policymakers, Indian corporations, and international gamers.
• “Semiconductor is a basis business. Similar to metal… with out metal, no construction will be constructed. Equally, semiconductors are the inspiration of all industries involving electronics… From toothbrushes to defence gear, satellites, house missions, medical, and heavy industries,” Sinha defined.
• He identified that whereas India has achieved capabilities from 180nm to 28nm, the following frontier would require persistence. For Sinha, who labored at MeitY as Joint Secretary earlier than returning as Further Secretary, the progress feels private. 

Startup

Leveraging tech for smarter logistics

Hexalog focuses on the export-import commerce panorama for companies working out and in of India. It combines superior know-how, deep business experience, and a unified digital platform to simplify complicated cross-border logistics and provide chain challenges. 

The Gurugram-based startup provides a complete ‘one-stop store’ service for worldwide delivery. Its choices cowl freight forwarding, customs clearance, warehousing, and last-mile supply throughout India.

Information & updates

• Offers: PayPal and Venmo customers within the US and a few international markets will obtain early entry to Perplexity’s new AI-powered Comet browser by way of a 12-month trial of the startup’s Professional subscription. The supply additionally gives Perplexity entry to PayPal’s over 430 million customers, as of the second quarter.
• Protected haven: Gold prolonged its good points, hitting a brand new all-time excessive on Wednesday, powered by rising bets on US Federal Reserve charge cuts and protracted market jitters that proceed to gas safe-haven demand. Spot gold was up 0.6% at $3,554.79 per ounce Wednesday morning, after hitting a document $3,556.01.
• Antitrust: Alphabet shares rose 9% on Wednesday as buyers considered the results of Google’s antitrust case as broadly beneficial to the tech large. The US Division of Justice had proposed a kind of break-up of Google, which included divesting its Chrome browser, in an antitrust case that started in September 2023.

Which Spanish artist was questioned when Leonardo da Vinci’s Mona Lisa was stolen in Paris in 1911?

Reply: Pablo Picasso.

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