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Oyo's IPO plans are back on track after securing Sebi approval. 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 cr... Oyo's IPO plans are back on track after securing Sebi approval. 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 131465157Ritesh 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 131465181Dario 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% 131465224Indian 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. 131465562Source: 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