BUSINESS
Meesho recasts board ahead of IPO
SoftBank's Sarthak Misra and Prosus' Ashutosh Sharma will give up their board seats, sources told Moneycontrol. At the same time, Kimsuka Narasimhan will succeed Kalpana Morparia. After the three changes, Meesho now has eight board members.
INDIA
Fraud, cheating, money laundering: A look at the key charges levelled by Dayanidhi Maran against Sun TV chairman Kalanithi Maran
The notice also alleges that the 2003 allotment of shares to Kalanithi Maran were done at face value of Rs 10 each although fair value of the said shares was anywhere between Rs 2,500 and Rs 3,000 at that time.
INDIA
Sun TV Family Feud: DMK MP Dayanidhi Maran sends legal notice to billionaire brother Kalanithi Maran
The strongly worded legal notice, dated 10th June, 2025, threatens to initiate civil, criminal, regulatory and enforcement proceedings against Sun TV chairman Kalanithi Maran and seven other respondents, unless they restore the shareholding of the media company to its original state in 2003.This is the second legal notice after one sent in October 2024.
BUSINESS
Kuku FM nears $70 million fundraise at $500 million valuation from Granite Asia and existing investors
Kuku FM is currently clocking $10 million in monthly revenue which translates to an annualised revenue run rate of $120 million.
BUSINESS
Used to take 25-30 hours on speech drafts, I now take 5 hours: Infosys founder Narayana Murthy on ChatGPT
Murthy believes Indian IT firms can tap into Gen AI to accelerate coding, reduce errors, and improve turnaround times.
BUSINESS
IIT-Kanpur missed out on Rs 2,000 crore worth of Infosys shares because of archaic rules, says NR Narayana Murthy
In the case of Bengaluru’s Indian Institute of Science (IISc), which faced a similar fate, the shares would have multiplied 768 times
BUSINESS
Fear that AI will take away jobs not right, very positive about IT industry: Infosys founder NR Narayana Murthy
Murthy said his own usage of OpenAI’s Generative AI tool ChatGPT has boosted his productivity by five times.
TECHNOLOGY
An MBA at IIMA could cost Rs 1 crore in 20 years, says Infosys founder Narayana Murthy on new merit scholarship
In an interview with Moneycontrol, Murthy said the whole fear that AI will take away jobs is not right and that he’s very positive about the IT industry.
BUSINESS
Meesho to pay $288 million in taxes to flip back to India ahead of IPO
Meesho’s tax bill is among the largest for a startup in recent times, after PhonePe’s hefty $1 billion outgo
BUSINESS
Meesho inches closer to IPO with NCLT approval to flip back to India
A complete flip back to India is necessary for Meesho if it wants to list on the bourses here.
BUSINESS
Hornbill, MUFG to lead Dhan's $200 million fundraise at over $1 billion valuation
Dhan has agreed on a deal with Hornbill and MUFG. Dream11's Harsh Jain is also doubling down on his bet. The company is also in discussions to pick a third investor between ChrysCap, TPG and Alpha Wave, sources said. Moneycontrol was first to report about Dhan's deal back in July 2024.
BUSINESS
Groww reports a 3x growth in profits at Rs 1,819 crore, revenue grows 31% to Rs 4056 crore
The relatively high growth and profitability come as a shot in the arm for the Bengaluru wealthtech platform ahead of its IPO plans
BUSINESS
Pine Labs Group CFO Marc Mathenz quits ahead of planned $1 billion IPO
Mathenz has quit citing personal reasons, sources told Moneycontrol. Pine Labs is yet to pick a successor and name a new CFO.
BUSINESS
Fintech Slice set to launch Rupay credit card months after merger with NESFB
At its peak, Slice had more than 2 million pre-paid cards in circulation, challenging several mid-tier private sector banks' credit-card business
ARTIFICIAL-INTELLIGENCE
The great migration: Indian SaaS founders relocate to US to capitalise on AI boom
As the AI boom redraws the SaaS playbook, Indian founders are packing their bags for the Bay Area, chasing proximity, partnerships, and the pulse of what’s next.
BUSINESS
Zomato introduces long-distance fee, rider assurance plan for restaurants to boost order margins
Zomato's parent, Eternal, has also proposed a new visibility assurance plan for brands where they can pay around Rs 6,000-6,500 each month, for each restaurant identification (RID), and boost rider availability for their business, sources told Moneycontrol.
BUSINESS
Eternal, Swiggy together add over Rs 30,000 crore in market cap this week amid headwinds at Zepto
While Eternal led the charge by adding Rs 20,217.48 crore in market capitalisation, Swiggy added another Rs 10,373.57 crore in market cap this week, NSE data showed. The two companies saw gains during a week when their key rival, Zepto, had a busy week.
BUSINESS
Zepto defers IPO to 2026, seeks private funding from overseas and domestic investors
Zepto CEO Aadit Palicha has spent a lot of time in the US in the past couple of weeks to discuss a potential fundraise. Zepto has received term sheets from Avenir Growth and General Catalyst, existing backers, for a potential $700 million round, sources told Moneycontrol.
BUSINESS
Razorpay to pay Rs 1,245 crore in taxes to flip back to India, IPO likely in 18-24 months
Moneycontrol had reported earlier on May 29 that the reverse flip was officially completed, bringing the company’s headquarters under Indian jurisdiction.
BUSINESS
Unacademy founders Gaurav Munjal, Roman Saini to step down, in talks to spin off Airlearn as new venture
Munjal, who has been contemplating stepping away since last year, is said to have formally communicated his intent to the board in March this year.
INFORMATION-TECHNOLOGY
Quess Corp's demerged digital engineering services arm Digitide aims to grow to $1 billion in 5 years
Founder Ajit Isaac's comments assume significance following the recent demerger, as the company aims to unlock value through its three entities — Quess, Digitide, and Bluspring
STARTUP
Flipkart to hire 5,000 employees this year amid quick commerce, fintech, AI push
Flipkart’s hiring plans, among the largest in recent years, are linked to the expansion of Minutes and Super.money, the management said at a townhall on May 26
BUSINESS
Iconiq to pump in $150 million in Groww in pre IPO round at $7 billion valuation
The current funding is part of the $300million Series F round where GIC has also put in $150 million
TRENDS
Food Pharmer 2.0: Revant Himatsingka launches his OWN brand, to roll out certification
After calling out big food brands for falsely claiming that their products were healthy, Himatsingka is ready for the next phase of his mission.
