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24th December 2021
Good Morning! 

Happy Friyayyyyyyyyyyyyyyyy!!! 
It is our last working Friyayyy of the year so you can imagine our excitement. Actually, we'll be taking some time off from writing The Gyst as well over the next week, so it's the last working day of 2021.
We wish all of you a Merry Christmas and a Happy New Year in advance, see you in 2022!🎉🎁🤶🥳 
  MARKETS
 

SENSEX

57,315.28

+ 0.68%

NIFTY

17,072.60

+ 0.69%

US$

75.24

- 0.41%

GOLD

48,141

- 0.12%

10-YR

6.46%

- 0.5 bps

OIL

5,529

+ 1.12%

*As of market close

  • Markets: 3 up days in a row now for our stock market, with headline indexes Sensex and Nifty50 both closing in the green on the penultimate F&O expiry day of the year. Financial, auto, IT and FMCG shares did well, and Medplus Health had a good listing with a 30% gain on its debut.

IPO

The Year of The IPO!
Raging bull

As per Chinese Zodiac signs, 2021 was the year of the Ox.

But if you ask corporate India,, especially those that raised money this year, 2021 has been the year of the bull!

In 2021 there were 63 mainborad IPOs in India that raised a combined Rs 1.19 lakh crores from the public!
These are record high figures - both the number of companies raising money and the amount they raised.

Another interesting fact is that this is almost 2x the amount raised compared to the second highest year, which was Rs 68k crores in 2017,

And as we all now, issues by loss-making startups is probably the most talked-about thing amongst all these IPOs. And leading the way here was Paytm which was in fact India's largest ever public offering, raising Rs 18,300 crores.

Despite the bad name that IPOs sometimes get, in 2021, 40 of the 58 issues that have been listed so far gave a return of more than 10% on the opening day itself, and are also currently trading above their issue price. Sigachi Industries was the best performer, gaining 270% on its first day! 

But what's next?

Don't despair fellow IPO enthusiast, for 2022 seems to have a lot in store as well. There are over 35 SEBI approved companies waiting for their turn in the markets. The most notable one being the LIC of India IPO!

There are also another 33 applications that are under review by SEBI to raise money, bringing the combined total for 2022 (so far) to Rs 1.10 lakh crores!

Tech

Maybe Fundings
Money gun

With most VCs starting their year-end holidays there aren't too many funding stories. But we did hear of 2 instances where they are "in talks to invest".

Swiggy Looking For Dhoom

We aren't just saying this because of Swiggy's 10-minute grocery delivery initiative, Swiggy is looking to invest in Rapido.

Rapido has made quite the name as a motorbike-taxi startup.
The concept is simple - considering all the traffic on our city roads in India it makes a lot more sense to use bikes, they can quickly get from one point to another. Frankly, we think we need flying taxis but that's a topic for another day.

Rapido saw the congestion issues and has offered its 2-wheeler bike-taxi service in 100 Indian cities. Like Uber/Ola they run a marketplace with customers and drivers on either side. 

Along with this bike taxi service, they also offer a Dunzo-like on-demand delivery service and autorickshaw hailing as well.
They also have a B2B vertical where they cater to the likes of Swiggy fulfilling their orders using its riders, imagine that.

You can see how Swiggy would benefit from being a strategic investor in Rapido, if it goes through we will get a lot more deets.

Last Unicorn Of The Year?

The neobank Open is in talks to raise $100-$150 million and enter the club.

Neo-Banks have been getting pretty popular over the past 2 years or so.

A quick note before we get into the details - none of these neo-banks actually have a banking license, they basically partner with existing banks and provide a good UI with some additional features.

Open has partnered with ICICI Bank for the creation of accounts. In terms of features, they provide almost everything a business would need on top of what a normal bank would provide. They provide services like bookkeeping, expense management, employee payment and taxes. What more could you ask for, right?

You must be wondering if traditional banks have all these services too? Well, they do have some but charge a huge amount. And for small businesses paying that much just isn't feasible.

Clearly what Open has been doing has struck a chord.
They have been growing a lot over the past year which is why the VC interest.

We're not too sure if this deal will close this year and so if they'll join the unicorn club in 2021 or 2022 remains to be seen. But 2021 would mark a great end to this crazy startup funding year, wouldn't it?

On a Lighter Note

Campus Ambassador Program

If you are a college student do check out our campus ambassador program. 
For more deets check this out.

If you have more time ...

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