Akshay Kumar downplays romancing Wamiqa Gabbi, 32, in Bhooth Bangla, Priyadarshan says 'actor's screen age is different'Apart from Akshay Kumar, Bhoot Bangla director Priyadarshan also addressed the age-gap, emphasising that he sees no issue with it. Mar 25, 2026
CoinDCX promoters Sumit Gupta and Neeraj Khandelwal, arrested in a ₹71.6 lakh fraud case, were granted bail by a Thane court. The duo was accused of cheating an insurance advisor with false cryptocurrency investment and franchise promises. Their defense argued mistaken identity
Jewar Airport latest update: IndiGo, Akasa Air and Air India Express confirm flight operations, expected routes, and launch timeline for Noida International Airport. The upcoming Noida International Airport in Jewar is set to emerge as a major aviation hub for North India
Energy-related infrastructure in Iran’s Isfahan province and the southwestern city of Khorramshahr has been struck, according to Iran’s semiofficial Fars news agency. The reported attacks come a day after US President Donald Trump announced a pause by extending his deadline for Iran to halt
The Indian Premier League (IPL) 2026 season is set to get underway on March 28 with defending champions Royal Challengers Begaluru facing Sunrisers Hyderabad at the M Chinnaswamy Stadium in Bengaluru. With a fresh stack of players across all 10 franchise following the mini-auction process from last
(Bloomberg) -- Figma Inc.'s record-breaking debut gains are cooling, but they have still handed a windfall to investors including the select institutions that were able to get their hands on the IPO shares, sparking debate over whether the stock was priced too low. Behind the scenes, the desire to court long-term investors influenced the outcome.
Figma’s Pursuit of Long-Term Backers Kept IPO Price in Check
(Bloomberg) -- Figma Inc.'s record-breaking debut gains are cooling, but they have still handed a windfall to investors including the select institutions that were able to get their hands on the IPO shares, sparking debate over whether the stock was priced too low. Behind the scenes, the desire to court long-term investors influenced the outcome.
The stock's 250% jump in its debut session — the biggest ever first-day pop from a $1 billion-plus US IPO — meant the company and the selling shareholders effectively handed over more than $3.5 billion of value to investors that were able to get shares.
Shares of Figma fell 20.7% to $96.73 each on Monday as of 11:31 a.m., giving the company a fully diluted value of over $55 billion. Even after the pull-back, the stock trades nearly three times above its IPO price, with trading valuing the company at more than 50 times its forward sales, according to Bloomberg calculations.
Figma and the banks considered pricing the shares above the ultimate $33 per share set in the IPO, according to a person familiar with the matter. In the end, Dylan Field, Figma's co-founder and chief executive officer, wanted to bring on board certain long-term institutional shareholders, and Field signed off on the final $33 price, the person said, asking not to be identified as the information isn't public.
A Figma spokesperson declined to comment. Field didn't immediately respond to a request for comment via his LinkedIn. Representatives for the lead banks on the deal, Morgan Stanley, Goldman Sachs Group Inc., Allen & Co. and JPMorgan Chase & Co., declined to comment.
With shares oversubscribed by more than 40 times, a blockbuster debut was by no means unpredictable. Had Figma and Field opted for a higher price, however, some institutional investors may not have been willing to buy the shares.
Firms with a long-term investment strategy often base their view of the stock on fundamentals, and determine their price expectations in reference to the valuations of comparable software firms. These investors are typically the most coveted backers in a first-time share sale, as they tend to bring price stability.
The banks pitched Figma's IPO valuation in line with highly valued software companies such as Snowflake Inc. and Datadog Inc. that trade at forward enterprise value to sales multiples ranging from 10 to 15 times, according to data compiled by Bloomberg.
Silicon Valley venture capitalist Bill Gurley, general partner of Benchmark, was among the most vocal critics of the pricing. Figma's day-one pop highlighted the “gross inefficiency in the modern IPO process,” he wrote Thursday in a post on X. A frequent commentator on the phenomenon, Gurley has long advocated for companies to pursue direct listings – raising no money and letting the market determine the share price — to avoid leaving large sums on the table. Gurley wasn't listed as a shareholder in Figma's filings.
Several factors contributed to Figma's IPO surge. During the process of gathering orders for stock, the banks asked for investors to submit a specific number of shares at a specific price, rather than market orders, Bloomberg News has reported – a method providing more detailed information on the prices that investors were prepared to pay.
Another clear contributor to Figma's outsized pop was the size of the offering. The number of shares sold, including the over-allotment shares, represented just 7% of the outstanding stock, a relatively small amount though not unheard of among hot tech IPOs.
That may have left retail investors largely empty-handed. In social media posts, several users complained that after putting in orders with Robinhood Markets Inc., they received only one Figma share each. A representative for Robinhood said in response to a query from Bloomberg that the company distributes shares based on supply, optimizing to give as many people access as possible.
Ultimately, Figma's challenge in satisfying the competing interests in the IPO was a good problem to have, said Matt Sperling, chairman of capital markets at Tigress Financial Partners.
“Arguably, the right fiduciary decision is what the company did,” Sperling said. “Namely, push price far enough to ensure you will have high-quality owners in your register, knowing there will be a pop that ultimately also attracts strong PR for the company as well, about how great the IPO was.”
More stories like this are available on bloomberg.com
©2025 Bloomberg L.P.
Source: LiveMint
Related Posts: Himesh Reshammiya becomes the only Indian on Bloomberg’s global pop power list Bloomberg Green’s Guide to Climate Week NYC Figma calls India a critical market amid rapid adoption In a cooling job market Cooling our cities Smart cooling at best prices How to stay cool without an AC using simple and affordable cooling solutions Best inverter ACs for non-stop cooling and efficient summer comfort at home Royal Cooling In Reverse
A Delhi court on Tuesday sentenced Kashmiri separatist leader Asiya Andrabi to life imprisonment, PTI reported. Andrabi, alleged to be the founder and chief of the banned all-women separatist group Dukhtaraan-e-Millat, and two of her associates had been convicted under the Unlawful Activities
4 hours ago
Dhurandhar 2: The Revenge has sparked fresh buzz after viewers realised that the character Pinda is inspired by real-life drug dealer and militant Rinda. This detail is now being widely discussed as fans connect the film’s story with real events
4 hours ago
IndiGo warns of demand hit as Iran war drives up flight ticket pricesIndiGo's warnings come even as an escalating Iran war continues to rattle global crude oil markets and complicates flight paths. Published on: Mar 24, 2026 5:13 PM IST By HT Business Desk Share via Copy link IndiGo has warned that
4 hours ago
Losing stubborn belly fat isn’t just about cutting calories, but it’s about choosing the right kind of movement. The fat stored around your abdomen, especially visceral fat, is closely linked to metabolism and overall health. The good news is that you don’t need hours in the gym
4 hours ago
And so the long goodbye begins for the 'Egyptian King' - undoubtedly, one of the greatest footballers the Premier League has ever seen. Mohamed Salah has worn the Liverpool shirt 435 times across all competitions. At most, he will get the opportunity up to 15 more times between now and the end of
4 hours ago
At his factory in Visakhapatnam, Sanjeev Relhan produces surgical gowns and protective gear that doctors and nurses routinely use in hospitals while handling an infectious patient or for a surgery. Usually, Relhan sells gowns to hospitals for Rs 80 a piece. In the last few days
4 hours ago
Kerala Police asks X to remove posts related to ECI document with BJP sealKerala Police on Tuesday issued notices to social media users and asked platform X to remove posts related to an Election Commission of India (ECI) document that carried the seal of the BJP Published on: Mar 25
4 hours ago
JICA is eager to partner with India on semiconductor and new energy initiatives. The agency plans to invest JPY 275 billion this year, a significant increase from last year's JPY 191 billion. JICA's chief representative, Takeuchi Takuro, highlighted semiconductor manufacturing and biogas as key
4 hours ago
One minute, he’s catching heat for a quiet cameo in the Madrid derby. And the next, he’s at the centre of a bizarre controversy that’s got France and Spain pointing fingers — and Real Madrid sweating. Mbappe’s substitute appearance against Atletico Madrid didn’t exactly wow anyone
4 hours ago
Premier League’s edge blunted as La Liga continues to dictate tempo and control in Champions League Updated on: Mar 25, 2026 6:08 AM IST By Aditya Maheshwari Share via Copy link Premier League may be the most competitive, but La Liga’s technical edge outclasses it in the UEFA Champions League
4 hours ago
Once operational, will Jewar International Airport in Noida, likely to be inaugurated on March 28, be India’s largest airport? There is understandable confusion around this claim. But the short answer is — not yet. But it could be India’s largest airport in the future
4 hours ago
If you cancel between 24 hours and 8 hours before the journey, 50% of your ticket fare will be cut, along with the minimum applicable charge. The Indian Railways has made some major changes to its ticket cancellation fee. From now on, if you cancel your ticket between 24 to 72 hours before the
4 hours ago
Globally, tuberculosis remains the leading cause of death and according to the World Health Organization, over 10.7 million people fell ill with TB in 2024, with more than 1.25 million deaths recorded globally. Despite decades of medical advances
4 hours ago
A tarot reader predicts financial growth for these 5 zodiac signs before March 2026 ends. Here’s whyMarch 2026 Horoscope: According to a tarot reader, Manisha Koushik, a few zodiac signs may experience financial progress before the month ends. Published on: Mar 25
4 hours ago
From April 1, 2026, filing your income tax return (ITR) is set to undergo a significant transformation. With the new Income-tax Rules, 2026 coming into effect, the government is not just tweaking forms—it is reshaping how income, tax and deductions are reported across the system.From April 1
4 hours ago
The Ministry of Civil Aviation has decided to withdraw the temporary fare caps on domestic airfares starting today (March 23). New Delhi: The Ministry of Civil Aviation has decided to withdraw the temporary fare caps on domestic airfares starting today (March 23)
4 hours ago
22-year-old UK woman lands job in Bengaluru, asks if relocating to India is safeThe woman shared that she is also worried about feeling lonely in a new country if she decides to move from the UK to India. Published on: Mar 25, 2026 6:10 AM IST By Trisha Sengupta Share via Copy link A 22-year-old
4 hours ago
The Lok Sabha on Tuesday passed by voice vote the 2026 Transgender Persons Protection of Rights Amendment Bill. The bill will now be moved to the Rajya Sabha. If cleared by the Upper House of Parliament, it will be sent for presidential assent. Introduced in the Lok Sabha on March 13
4 hours ago
Opposition parties are carefully responding to a government proposal to speed up the Women's Reservation Act. They are not opposing it directly but are requesting an all-party meeting. This meeting is proposed to take place after the upcoming assembly elections conclude
4 hours ago
Apex court issued broad directions to correct past injustices and to guarantee equal opportunities in the future. In a landmark judgment stregthening gender equality in the armed forces, the Supreme Court on Tuesday ruled that women Short Service Commission (SSC) officers are entitled to Permanent
4 hours ago
HDFC Bank has appointed domestic law firms Wadia Ghandy and Trilegal, along with a leading US-based firm, to review the circumstances surrounding former chairman Atanu Chakraborty’s abrupt resignation, according to a report by The Economic Times (ET), citing people familiar with the matter
4 hours ago
Singer-rapper Badshah has reportedly tied the knot with Punjabi actress and model Isha Rikhi. Recently, Isha’s mother, Poonam, took to her Instagram handle and shared a series of pictures which suggest that the two are now married. In the photos
4 hours ago
Malaika Arora, in a recent interview, mentioned that she is a massive fan of two Thai dishes. She spoke about her love for green Thai curry rice and mango sticky rice and went on to share how she makes these dishes at home. Green Thai curry or Gaeng Khiao Wan is a fragrant coconut milk-based dish
4 hours ago
Delays in visa appointment scheduling are affecting not only H-1B visa holders but also H-4 dependents, L-1/L-2 employees, and F-1 students. After arriving in India in December, holders with H-1B visas are now ‘stranded in their home country’
4 hours ago
Thousands of Malayalees return home from the UAE, Saudi Arabia, Kuwait and other Gulf states during election seasons to exercise their franchise. Expatriate groups even arrange chartered flights for their members to travel. This year this crowd would have been bigger
4 hours ago
Nandini, the dairy brand of Karnataka Milk Federation, will be the Official Dairy Partner for Royal Challengers Bengaluru in the 2026 IPL season. This partnership unites two prominent Karnataka-based brands. The collaboration aims to connect with passionate RCB fans
4 hours ago
On March 19, Ras Laffan, the largest liquified natural gas terminal in the world, supplying one-fifth of the world’s super-chilled fuel, was hit by Iranian missiles and drones. The Qatari terminal suffered substantial damage in the strikes – fires were raging across the gas-to-liquids facility
4 hours ago
