The IPO of 'The House that Covid Built'
The Blind Squirrel's Monday Morning Notes, September 4th, 2023.
Summary
With much fanfare, the US Tech IPO market looks set for a post Labor Day reopening with ARM Semiconductor and Instacart’s debuts.
The 🐿️ dusts off his old equity capital markets hat and has a dig into CART 0.00%↑’s S-1 filing, offer structure and valuation.
Acorn thoughts on #ChIndia FXI 0.00%↑ INDA 0.00%↑ TLT 0.00%↑ DBA 0.00%↑ WEAT 0.00%↑ $FCOJ CANE 0.00%↑ GS 0.00%↑ #uranium
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The IPO of 'The House that Covid Built'
Last week we touched on ‘grocery delivery’ apps briefly as we were being invited by the financial press to marvel at Zepto, India’s newest ‘fast grocery’ business’ newly established ‘unicorn’ status in the same week that Instacart CART 0.00%↑ filed the S-1 for its IPO. It’s time to pull a little harder on that thread.
As you may be aware, IPOs are a bit of a specialist topic for the 🐿️. Having worked on literally 100s of IPOs in the US and …