Oyo's IPO plans are back on track after securing the regulator's nod. This and more in today's ETtech Top 5.Also in the letter:■ New ecommerce alliance■ Big names back ONDC■ Chip startups attract capitalOyo parent Prism gets Sebi nod for IPO; plans to raise Rs 6,650 crore in fresh capital: sources Ritesh Agarwal, group CEO, PrismPrism, Oyo's parent company, has secured Sebi approval for its long-delayed initial public offering (IPO), sources told us.IPO details:The company plans to raise Rs 6,650 crore through a fresh issue of shares.It is expected to file an updated draft red herring prospectus (DRHP) within the next six to eight weeks.Oyo is eyeing a valuation of Rs 50,000-60,000 crore ($5-7 billion), subject to market conditions.Take three:In 2021, Sebi returned Oyo's first IPO application and asked for updated financial information. The company later refiled for a smaller issue.In 2024, Oyo withdrew its draft prospectus and chose to raise private capital instead.In December 2025, it confidentially filed fresh IPO papers, marking its third attempt to go public. The latest filing is for an issue 40-60% smaller than the originally proposed $1.2 billion IPO.Anthropic confidentially files to go public Dario Amodei, CEO, AnthropicAI startup Anthropic has confidentially filed draft documents for a US IPO.More details: It has not disclosed the size or terms of the offer. If it proceeds, the listing will test investor appetite for AI companies, with both Anthropic and OpenAI now nearing $1 trillion in valuation.IT rally rages on: Infosys, TCS, other stocks jump up to 4% Indian IT companies extended their rebound on Tuesday, sending the Nifty IT index up 3% in a single day and about 7% over three sessions, even as the broader Nifty fell 3%.Ongoing rally:Infosys jumped more than 4% on Tuesday and is up nearly 9% over the past three days.TCS climbed as much as 6.5%, closing at Rs 2448.Mphasis and LTIMindtree gained about 3% each.HCLTech, Coforge, Tech Mahindra and Persistent Systems rose around 2% apiece. Source: Google FinanceWhat's driving it: The rally follows a sharp AI-driven selloff in Indian markets that hit IT stocks particularly hard, with sentiment worsening after Anthropic’s Claude Cowork agent stoked fears of a “SaaSpocalypse” for software.Investors are now buying into beaten-down valuations. Brokers such as Nuvuma argue that GenAI does not pose an existential threat to the IT services industry. Macro backdrop: The latest leg of buying comes ahead of the Federal Reserve’s policy meeting next month, the first under Chair Kevin Warsh. US president Donald Trump picked Warsh amid expectations he would back lower borrowing costs to support growth.What investors are betting on: Analysts told us that Indian IT firms are repositioning for a fast-changing landscape, signing AI-related contracts and partnering with global players. Investors see these moves as early sings that the sector can adapt.Also Read:South Korea overtakes India as world’s sixth-largest stock marketEcommerce players to join hands for the Digital Commerce Coalition Ecommerce firms, including Eternal, Meesho, Amazon, Swiggy and Zepto, are coming together to launch an industry body, the Digital Commerce Coalition, on Tuesday.Mandate:The coalition will focus on shared priorities: improving customer experience, backing entrepreneurs and small businesses, strengthening supply chains and supporting delivery partners, and contributing to broader economic growth.It will also serve as a forum for stakeholder engagement, research, and knowledge-sharing.Public policy consultancy firm Koan Advisory Group will serve as its secretariat.What companies said:Eternal said the coalition makes a strong case for industry-wide collaboration.Zepto highlighted that key industry challenges are too big for any single company to tackle alone.Meesho said collaborative efforts can drive more inclusive ecommerce growth as adoption spreads across IndiaBackground: The launch comes amid rapid expansion in India's ecommerce market. A Flipkart-Bain & Company report found that the sector grew 25% in the first quarter of calendar year 2026, driven by improved consumer sentiment, policy support, and rising adoption among Gen Z, middle-income households, and shoppers in smaller cities.ONDC raises Rs 220 crore from Zoho, Uber, Paytm, BSE; eyes additional capital The Open Network for Digital Commerce (ONDC) has raised Rs 220 crore from Zoho, Uber, Paytm and BSE Technologies, according to a regulatory filing with the Registrar of Companies (RoC).Round details:Zoho invested Rs 70 crore, while Uber and Paytm each contributed Rs 60 crore.BSE Technologies invested Rs 30 crore.ONDC is seeking an additional Rs 210 crore from both existing and new strategic investors.The organisation said the fundraising supports its move to ONDC 2.0. “ONDC is seeking to raise funds to transition the network from a functional proof of concept to a value-creating national digital commerce infrastructure under its ONDC 2.0 strategy.”Tell me more:Uber said the investment builds on its existing ONDC integration and could create new opportunities across mobility services.Zoho said its participation aims to make technology more accessible to businesses, especially MSMEs.Meanwhile, Paytm has been one of ONDC's earliest supporters, backing the network's goal of offering an alternative to ecommerce platforms such as Amazon and Flipkart.India's semiconductor startups see investor interest building Investor interest in Indian semiconductor startups is picking up. The sector raised $92 million across 12 deals in Jan–May 2026, nearly four times the $25 million raised in all of 2025, according to Venture Intelligence.Data decoded: Of the funds raised in the January-May period, $34 million came via seed rounds across eight deals; the rest were Series A funding.Companies that have raised funds include Constelli, C2i Semiconductors, HrdWyr and VerveSemi, each securing upwards of $10 million. Why now: Founders and investors point to the government’s design-linked incentive (DLI) scheme as a key catalyst. The scheme absorbs early-stage risk and pulls in private capital. The AI boom and a gradually maturing domestic ecosystem are adding further momentum.Multiple DLI beneficiaries – including Mindgrove, VerveSemi, InCore, BigEndian, Calligo, and MOSart Semi – have raised or are raising funds.Nascent ecosystem: Experts note that, while the ecosystem is still nascent, India needs more local firms that can test semiconductor parts within the country.