There is the official news that Boat Joins Droom and PharmEasy. the complete news is given below.
Boat, a leading online marketplace in India, has shelved plans to list on the stock markets. It is the electronics and fashion sector in India with the tag of 5th largest wearable brand. Droom is an e-commerce marketplace for automobiles and boats. It is headquartered in Gurgaon, Haryana. Droom was founded by Saurabh Kumar and Vikas Malpani in 2013 as a used car trading platform. The company was established as Droom Connect India Pvt Ltd on 26 March 2013. It uses Artificial intelligence, Machine learning, Bigdata, and Data Science with the most interactive customer service assistants.
PharmEasy is an online pharmacy chain in India that was founded in 2015 by Dharmil sheth and Dhaval Shah. in the initial days, the funding has been provided by their parents. It is an online platform that provides drugs without a prescription from doctors. They are based out of Delhi NCR, Mumbai, and Chennai.
The reason why Boat joins Droom and Pharmeasy is the owner of the brand Boat, Imagine Marketing, is the most recent domestic tech business to abandon its intentions to list on the stock market. The well-known consumer technology company withdraws its draught red herring prospectus (DRHPs), joining parent company API Holdings of PharmEasy and online auto marketplace Droom Technology. Industry insiders don’t rule out other tech companies doing the same. The delay of listing plans by tech businesses is attributed to a decline in the valuations of publicly traded tech firms, increasing regulatory scrutiny, and a lackluster investor response during roadshows.
Here is the news about why Boat joins Droom and PharmEasy,
The Securities and Exchange Board of India (SEBI) has enhanced oversight, especially about valuations, and has also implemented several disclosure regulations requiring corporations to explain changes in valuation between pre-IPO placements and the issue price in an IPO. This has forced modern tech firms to reevaluate their market values, business plans, and the timeline for going public and the Boat joins Droom and Pharmeasy
In January, Boat submitted its DRHP to the Securities and Exchange Board of India (Sebi), and in April, it was approved. Through the IPO, the business hoped to raise Rs 900 crore in new capital. It stated on Friday that it had received Rs 500 crore from Malabar Investments and a Warburg Pincus subsidiary.
PharmEasy chose in August to postpone its Rs 6,250 crore IPO in favor of raising money from current investors through a rights issue. In November 2021, the online pharmacy submitted its DRHP, and in February, Sebi approved it. Droom withdrew its 3,000 crores rupee initial public offering (IPO) filing earlier this month. According to sources, the business was aiming for a value of more than Rs 15,000 crore but couldn’t find enough buyers because of the collapse in the pricing of publicly traded IT companies and this is where the Boat joins Droom and Pharmeasy happened in all the planned ways.
The Boat joins Droom and PharmEasy reasons are revealed and clarified. we hope it helps you.
1. Who is the present CEO of boAt?
the present CEO is Sameer Mehta. He is also a Chief Product Officer and a head of product research and development.
2. Is Droom an Indian company?
Yes, it is a Gurugram-based marketplace for buying and selling goods. recently Droom enters the Unicorn list.
3. Is Pharmeasy listed in the stock market?
yes, it is all set to enter the stoke exchanges you can buy the unlisted shares from your Demat account. now the hot news is that Boat joins Droom and Pharmeasy to shelve listing plans.
4. what are all the products that Boat sells?
It sells wired to wireless headphones, Speakers, Trimmers, and even smart watches which sell the product directly to the customers.
