BUSINESS
IPO jamboree: SoftBank sitting on 106% gains in Ola Electric, FirstCry, Unicommerce
While the Japanese tech investor is offering sell shares worth up to Rs 1,287 crore in the three IPOs, it will still be left with up to Rs 11,011 crore of their shares after the companies list on the bourses
BUSINESS
Zomato eats into IPO-bound Swiggy's territory, claims a jump in market share in South
Various brokerage firms have estimated that Zomato's market share in India's food delivery sector has risen to around 55 percent, while Swiggy has lost ground
BUSINESS
FirstCry IPO: Sachin Tendulkar, Manipal's Ranjan Pai sitting on losses; Ratan Tata eyes 5X gain
Among the big winners in the IPO is Ratan Tata who holds 77,900 shares in FirstCry which were bought at an average price of Rs 84.72. The price band for the IPO has been set at Rs 440- Rs 465 apiece
BUSINESS
Unicommerce IPO anchor book to open on August 5, listing on August 13
The company has lowered the issue size of the offer for sale from 2.98 crore shares to 2.56 crore shares.
TECHNOLOGY
IPO-bound Ola Electric's cost of imports from China jumped to 37% in FY24
The company’s total cost of materials consumed was around Rs 4,390 crore, of which, imports from China amounted to Rs 1,624 crore
TECHNOLOGY
Meet Hyun Shik Park, the battery boss who has the fattest paycheque in Ola Electric universe
After being an LG lifer for almost four decades, the battery manufacturing expert joined Ola last year to helm its cell production operations in its Gigafactory
TECHNOLOGY
Ola Electric IPO: Top 10 metrics to watch out for
Ola Electric's IPO, the first such offer from an Indian electric two-wheeler manufacturer, will open for subscription on August 2 and close on August 6
BUSINESS
Ola Electric IPO: Vijay Shekhar Sharma, Zoya and Farhan Akhtar are holding onto their 26% gains
Paytm founder and the Bollywood duo invested in Ola Electric’s Series C round in December 2021. The benchmark Nifty has risen 48 percent since then
BUSINESS
Quick commerce is opening up new consumer categories for investment: Fireside Ventures' Kanwaljit Singh
Fireside Ventures founder and managing partner talks about his hypothesis of starting a consumer fund when tech platforms were the rage among venture investors, D2C acquisitions by FMCG majors, navigating quick commerce, and more
BUSINESS
Startup employees may face higher tax burden on ESOP buybacks due to Budget proposal
ESOP buybacks will be taxed in the hands of the employee as ordinary income from October 1, whereas they are currently taxed in the hands of the company
BUSINESS
No respite for startups with pending angel tax notices; companies may still face fresh demands
In the Union Budget 2024, the government proposed to abolish angel tax with effect from FY24-25
BUSINESS
Byju’s insolvency: What happens to the company now, how ex-employees can recover dues—and more
Tricky questions could surface over the next few months with embattled edtech company Byju’s, once India’s hottest startup with a $22-billion valuation, entering the insolvency process.
TECHNOLOGY
Zepto hits life-time high of 750,000 orders on third anniversary
Sources said that the gross merchandise value (GMV) of the sales on the day was between Rs 30 crore and Rs 40 crore, while gross margin improved by 100 basis points
TECHNOLOGY
General Atlantic's India COO Alok Misra quits
Anand Agarwal, former chief financial officer of Amazon’s consumer business in India, has been handed over Misra's responsibilities.
TECHNOLOGY
Byju's failed to deposit TDS with Govt since last year, claim employees
Not depositing tax deducted at source of employees is a prosecutable offence for which a company’s directors may have to go behind the bars, say tax experts
TECHNOLOGY
Bengaluru Hotels Association looks to bust Swiggy-Zomato duopoly by joining ONDC, ropes in GrowthFalcons
This initiative comes close on the heels of a promising take off seen by Namma Yatri, a ride-hailing app on the ONDC, which has managed to dent the Ola-Uber duopoly in ride hailing
TECHNOLOGY
Ola-Uber challenger Namma Yatri pilots auto, cab rentals
Ride-hailing firm Namma Yatri, built on top of ONDC, is expanding its offerings as the company looks to compete with rivals Uber and Ola.
TECHNOLOGY
Govt unlikely to launch a second semiconductor subsidy scheme this year
Disbursal of subsidy funds has started for Micron’s $2.75 billion chip plant, but MeitY wants to wait for disbursals to other projects to start before seeking funds for the next version of the chip scheme
TECHNOLOGY
A third of startups in Peak XV's latest Surge cohorts are building in AI: Rajan Anandan
As the VC firm looks to attract more AI startups to the 10th batch of Surge, it shared the list of 28 AI-focussed companies it has backed in the seed stage since 2019
TECHNOLOGY
Here's how Nvidia's chips may disrupt big fat Indian weddings
The AI chip giant’s consumer chips are being used by India-based custom computer manufacturers to build special systems for video editing in studios — and the Rs 11 lakh crore Indian wedding industry is one of the target segments.
BUSINESS
India’s e-commerce policy likely to be on backburner amid sluggish FDI inflows
Latest data from the Department for Promotion of Industry and Internal Trade revealed that India’s net FDI inflows contracted 3.5 percent year-on-year in FY24 to $44.42 billion, the lowest in five years.
TECHNOLOGY
ONDC logs 9.95 million transactions in June, retail category hits 6 million
The number of retail orders on ONDC in December 2023 was 2.1 million, which means that monthly e-commerce purchases on the network has almost tripled in the past six months
TECHNOLOGY
Zepto can become bigger than DMart in 18-24 months: Aadit Palicha
According to Aadit Palicha, the Indian grocery market would be worth $850 billion by FY29, of which these top bracket households would account for $400 billion.
TECHNOLOGY
ONDC to cut its discount funding by up to 75%; advises against GST adjustment
The highest drop in incentives is for the food & beverages and grocery categories which together make up about 40 percent of the network’s monthly retail order volumes
