Indian Company Freshworks Hit The Ground In America

Indian company Freshworks hit the ground in America, 500 employees became millionaires overnight.

Technology company Freshworks has made a big entry in the American stock exchange Nasdaq. The company has raised $1 billion in the US through an initial public offering (IPO).

The market value of the company is close to $10 billion. With this, 500 employees of the company have become millionaires. The company’s plan was to raise $ 912 million from this IPO.

Shares of Freshworks hit $46.67 per share as the market opened on Wednesday. That means 30 percent above the listing price of $36.

Freshworks had offered 28.5 million shares at a price band of $36 per share. The company’s revenue for the half-year ended June 2021 was $168 million.

Indian company Freshworks hit the ground in America: Whereas a year ago this figure was $110 million.

The company’s net loss has come down to $9 million. It was $57 million earlier.

The San Mateo, California-headquartered Software as a Service (SAAS) company was founded in Chennai in 2010 by Girish Matrubootham and Shan Krishnasamy.

In a notice sent to the US Securities and Exchange Commission (SEC), Freshworks Inc. said it plans to offer 28.5 million Category A common shares at a maximum price of $32 per share.

The company had proposed listing of Category A common shares with the mark ‘FRSH’ on the NASDAQ Global Select Market.

Gold will be sold fiercely this time on Diwali, three out of 10 people will buy gems: Survey.

This time the sale of Gold Ornaments on Diwali is going to be great. According to a survey, in the next three months, about 28 percent of urban Indians are planning to spend on gold (Buy Gold today).

This indicates a renewed demand for gold in case the impact of the second wave of Kovid-19 subsides. This information has been given in a survey.

In the year 2020, due to the restrictions of Covid 19, the gems and jewelery industry had indicated a recovery in January-March this year. However, the second wave of the pandemic stopped it.

State governments are gradually easing restrictions on movement after the second wave subsides and organized retailers are expecting consumer demand to remain better during the festive season this year.