Blab Tech
New-Age Tech Stocks Surge as Aequs Leads Gains, While Ather Energy Shares Drop on QIP Announcement
In the week ending 20 June 2026, India’s new‑age technology segment gained a fresh $5 billion, with market capitalisation rising from $129.58 billion to $134.52 billion. Forty‑three of the 57 listed firms ended the week higher, while fourteen slipped.
Aequs stole the spotlight. After a dynamic investor‑day on 18 June, the company’s shares leapt 21.42 % to ₹221.90, hitting a new all‑time high of ₹225 during intraday trading on 19 June. Aequs forecast a 4‑6× revenue expansion and an EBITDA margin of 18‑22 % by FY31, and it anticipates a consolidated PAT breakeven by H1 FY28.
Other names that punched above their weight included WeWork India, Shadowfax, Kissht, Aye Finance, Nykaa and Amagi, all posting fresh highs. On the flip side, Ola Electric fell 7.54 % to ₹42.28 and Ather Energy slipped 5.49 % to ₹971.70, with additional declines seen in EaseMyTrip, SEDEMAC Mechatronics, Capillary Technologies, WeWork India and Awfis.
Key corporate developments
- Aequs – The board sanctioned a ₹33 crore infusion into its French subsidiary, Aequs Aerospace France SAS, to meet operational demands. The subsidiary’s FY26 turnover rose 25 % YoY to ₹127.2 crore. - Veefin – The fintech SaaS firm has moved from the SME platform to the BSE main board and is preparing a listing on the NSE. - Turtlemint – The insurtech startup opened its IPO on 19 June, securing ₹397 crore from anchor investors. The fresh issue is capped at ₹660.7 crore, with an offer‑for‑sale component of up to 1.46 crore shares. First‑day subscription reached 45 %. - Jio Platforms – Reliance Industries’ tech arm filed a draft prospectus for a mega IPO that will raise up to 27 crore shares, with proceeds earmarked for debt repayment. - Nazara – The gaming firm closed a ₹100 crore pre‑Series C round in Rusk Media and a $40.1 million equity plus $60.2 million debt investment in its UK arm. - Razorpay – The fintech unicorn pre‑filed a DRHP for an IPO that could raise $500‑$600 million, targeting a $5‑$6 billion valuation, below its last private round of $7.5 billion.
Broader market context
Indian equities finished the week with 1.7 % gains on both the Sensex (76,802.90) and Nifty 50 (24,013.10). The rally was underpinned by improving global sentiment, lower crude prices, a stronger rupee, and renewed foreign investor appetite. Foreign institutional investors net bought ₹3,386 crore, while domestic institutional investors added ₹7,109 crore.
Technical observers note that the Nifty failed to hold above 24,100, with a Doji on the weekly chart. Immediate support sits near 23,900, while resistance ranges from 24,150 to 24,200. Market participants are likely to focus on stock‑specific moves, with midcap and smallcap names expected to outperform the benchmarks.
Nykaa and Ather Energy
Nykaa’s shares climbed 10.72 % during the week, closing at ₹302.55 and touching a fresh high of ₹303.75. The surge followed a partnership with OpenAI that embedded Nykaa’s beauty and fashion catalog into ChatGPT‑connected apps. At its investor day, Nykaa projected a 2‑3× revenue growth and a 4‑5× EBITDA increase by FY30, aiming for a GMV of over $5 billion and expanding to more than 600 stores.
Ather Energy’s board approved a qualified institutional placement (QIP) to raise up to ₹2,500 crore. The plan includes issuing up to ₹1,500 crore via the QIP and an additional ₹1,000 crore through a preferential issue, rights issue, equity shares or foreign currency convertible bonds. Proceeds are earmarked for R&D, marketing and debt repayment. The announcement triggered a 5.5 % dip, with the stock touching ₹950 during the week.
Conclusion
The week delivered a net positive trajectory for new‑age tech stocks, led by Aequs and a handful of other names that hit fresh highs. While a few, notably Ola Electric and Ather Energy, slipped, the broader equity market remained resilient, buoyed by foreign inflows and a supportive macro backdrop. Upcoming milestones include the completion of Turtlemint’s IPO, Jio Platforms’ mega IPO filing, and the potential NSE listing of Veefin. Investors will keep a close eye on high‑growth tech names and the influence of corporate actions such as QIPs and IPOs on market dynamics.
Aequs stole the spotlight. After a dynamic investor‑day on 18 June, the company’s shares leapt 21.42 % to ₹221.90, hitting a new all‑time high of ₹225 during intraday trading on 19 June. Aequs forecast a 4‑6× revenue expansion and an EBITDA margin of 18‑22 % by FY31, and it anticipates a consolidated PAT breakeven by H1 FY28.
Other names that punched above their weight included WeWork India, Shadowfax, Kissht, Aye Finance, Nykaa and Amagi, all posting fresh highs. On the flip side, Ola Electric fell 7.54 % to ₹42.28 and Ather Energy slipped 5.49 % to ₹971.70, with additional declines seen in EaseMyTrip, SEDEMAC Mechatronics, Capillary Technologies, WeWork India and Awfis.
Key corporate developments
- Aequs – The board sanctioned a ₹33 crore infusion into its French subsidiary, Aequs Aerospace France SAS, to meet operational demands. The subsidiary’s FY26 turnover rose 25 % YoY to ₹127.2 crore. - Veefin – The fintech SaaS firm has moved from the SME platform to the BSE main board and is preparing a listing on the NSE. - Turtlemint – The insurtech startup opened its IPO on 19 June, securing ₹397 crore from anchor investors. The fresh issue is capped at ₹660.7 crore, with an offer‑for‑sale component of up to 1.46 crore shares. First‑day subscription reached 45 %. - Jio Platforms – Reliance Industries’ tech arm filed a draft prospectus for a mega IPO that will raise up to 27 crore shares, with proceeds earmarked for debt repayment. - Nazara – The gaming firm closed a ₹100 crore pre‑Series C round in Rusk Media and a $40.1 million equity plus $60.2 million debt investment in its UK arm. - Razorpay – The fintech unicorn pre‑filed a DRHP for an IPO that could raise $500‑$600 million, targeting a $5‑$6 billion valuation, below its last private round of $7.5 billion.
Broader market context
Indian equities finished the week with 1.7 % gains on both the Sensex (76,802.90) and Nifty 50 (24,013.10). The rally was underpinned by improving global sentiment, lower crude prices, a stronger rupee, and renewed foreign investor appetite. Foreign institutional investors net bought ₹3,386 crore, while domestic institutional investors added ₹7,109 crore.
Technical observers note that the Nifty failed to hold above 24,100, with a Doji on the weekly chart. Immediate support sits near 23,900, while resistance ranges from 24,150 to 24,200. Market participants are likely to focus on stock‑specific moves, with midcap and smallcap names expected to outperform the benchmarks.
Nykaa and Ather Energy
Nykaa’s shares climbed 10.72 % during the week, closing at ₹302.55 and touching a fresh high of ₹303.75. The surge followed a partnership with OpenAI that embedded Nykaa’s beauty and fashion catalog into ChatGPT‑connected apps. At its investor day, Nykaa projected a 2‑3× revenue growth and a 4‑5× EBITDA increase by FY30, aiming for a GMV of over $5 billion and expanding to more than 600 stores.
Ather Energy’s board approved a qualified institutional placement (QIP) to raise up to ₹2,500 crore. The plan includes issuing up to ₹1,500 crore via the QIP and an additional ₹1,000 crore through a preferential issue, rights issue, equity shares or foreign currency convertible bonds. Proceeds are earmarked for R&D, marketing and debt repayment. The announcement triggered a 5.5 % dip, with the stock touching ₹950 during the week.
Conclusion
The week delivered a net positive trajectory for new‑age tech stocks, led by Aequs and a handful of other names that hit fresh highs. While a few, notably Ola Electric and Ather Energy, slipped, the broader equity market remained resilient, buoyed by foreign inflows and a supportive macro backdrop. Upcoming milestones include the completion of Turtlemint’s IPO, Jio Platforms’ mega IPO filing, and the potential NSE listing of Veefin. Investors will keep a close eye on high‑growth tech names and the influence of corporate actions such as QIPs and IPOs on market dynamics.
