BUSINESS
Zepto likely to raise up to $150 million from Motilal Oswal, others in third funding round in 4 months
Of the $40 million that Motilal Oswal will invest, Raamdeo Agrawal, chairman and co-founder of Motilal Oswal, will put in around $15 million in his personal capacity and increase his stake in the company, sources told Moneycontrol. Agrawal is already an investor in Zepto.
BUSINESS
IPO-bound OfBusiness co-founder Nitin Jain to start AI venture
Jain, however, told Moneycontrol that he is “very much part of OfBusiness, (and is) just exploring options" with OfBusiness as a partner. "I’m still a proud OfBian.”
BUSINESS
Blinkit junks 'zero notice period' policy as talent hunt simmers in quick commerce
Since the policy's introduction in July, Blinkit's rival Zepto has raised $340 million, Flipkart Minutes has scaled beyond Bengaluru to other parts of India and Swiggy has received approval for its IPO.
STARTUP
Licious to acquire My Chicken and More for Rs 200 crore and deepen offline play
As part of the acquisition, Licious will have an additional 22 physical stores which will give it an edge over industry peers like Zepto, Tata BigBasket and help it compete closely with legacy players like Venkys, Nandus and others.
BUSINESS
Good Glamm Group puts three of its companies on sale to stay afloat; taps Mamaearth, Nykaa, Purplle, among others
Organic Harvest, The Moms Co, and Sirona, all owned by The Good Glamm Group, are up for sale. Good Glamm Group’s Darpan Sanghvi has met Mamaearth’s Varun Alagh, Purplle’s Manish Taneja and top executives at Nykaa, sources told Moneycontrol.
BUSINESS
People took us seriously once Ratan Tata came on board: Startup founders and investors pay tribute to the legend
Ratan Tata’s bets have earned him handsome returns. While Upstox delivered a return of over 23,000 percent, an early bet on Lenskart reportedly gave him a 28X return on his investment. Similarly, Ola Electric and Firstcry, new-age companies that went public this year, gave him returns of 10X and 450 percent respectively.
COMPANIES
How Zomato plans to win events biz: Invest in stadium infra, hope Swiggy doesn't buy BookMyShow
Zomato was earlier the number three player in the events and ticketing business. But has now become number two, only behind BookMyShow, Goyal said
BUSINESS
MC Interview: Food delivery will have to change, 10-minute deliveries can be a gamechanger, says Zomato’s Deepinder Goyal
“We just stuck to our jobs and continued moving forward day by day. I can't see anything special we have done, to be very honest," Goyal tells Moneycontrol in an hour-long conversation in Bengaluru
BUSINESS
Swiggy IPO: Good for the sector to have multiple players, says Zomato’s Deepinder Goyal
Goyal, in an interview to Moneycontrol, said that navigating public markets is easier as companies get to think more long term and are not bound by weekly reviews by VCs
BUSINESS
Zepto zeroes in on shopping mall for head office on Bengaluru's Sarjapur road; to move all employees by February
While the larger move will take time, Zepto has started moving some roles into an adhoc office in Bengaluru where operations will begin from around November 11, one of the persons cited told Moneycontrol.
BUSINESS
Swiggy to sponsor Shark Tank Season 4, excludes Zomato founder Deepinder Goyal as part of deal
Swiggy’s bid to block Deepinder Goyal from Shark Tank underscores the intensifying rivalry between the two companies, which compete in food and grocery delivery.
BUSINESS
Swiggy gets shareholders' nod to increase IPO size to Rs 5,000 crore
Only the size of primary issue has been increased from Rs 3,750 crore to Rs 5,000 crore. The offer for sale (OFS) component remains unchanged at Rs 6,664 crore.
BUSINESS
Karnataka CID takes over probe into Swiggy’s Rs 33-crore graft complaint against ex-employee
Srikhara KM, the main accused, was finance manager at the company's B2B arm, says the FIR. He colluded with 12 other people and firms to defraud Swiggy over a period of time
BUSINESS
Is Zepto’s meat brand Relish on track to become a Rs 500 crore business? What the numbers say
Relish’s monthly sales were in the Rs 12-15 crore range from April to September which translates to an annualised revenue run rate (ARR) of Rs 144-180 crore, in contrast to Zepto’s recent comments on the vertical being a Rs 500 crore business, per internal documents accessed by Moneycontrol.
BUSINESS
Peak XV cuts fund size by $465 million, reduces partner payout amid market frenzy
Peak XV will now have a 2/20 compensation structure, with a provision to catch-up on carry to 30 percent, in a move that will bring the investor on par with its industry peers.
BUSINESS
Swiggy IPO: 7 key takeaways from updated DRHP
Swiggy's IPO is among the biggest public offers in India this year and is one of the largest offers by a new-age company
BUSINESS
IPO-bound Swiggy sees losses widen to Rs 611 cr, despite 36% surge in Q1 revenue
Swiggy Instamart, the company's quick commerce arm, had a revenue of Rs 374 crore (up 108 percent) in Q1FY25 while its rival Zomato-owned Blinkit clocked a revenue of Rs 942 crore (up 23 percent) during the same period.
BUSINESS
D2C ayurvedic products startup Kapiva nears deal to raise Rs 330 crore in internal round
Existing backer OrbiMed is likely to lead the round and others like Fireside Ventures, Vertex Ventures, 3one4 Capital and more may also participate, sources told Moneycontrol.
BUSINESS
Madhuri Dixit goes dhak dhak for Swiggy, snaps up shares ahead of IPO
Dixit paid Rs 345 for each share of Swiggy, a second person aware of the developments told Moneycontrol.
BUSINESS
Furniture retailer Pepperfry appoints investment banker to explore sale as growth flatlines
The company, last valued at around $330 million, sought a valuation of around $200-220 million when it engaged with potential buyers in the last few months
BUSINESS
IPO-bound Infra.Market in talks to raise $150 million from existing backers like Tiger Global, new investors
This will be the company's last private market fundraise ahead of its IPO. Infra.Market is likely to file its draft red herring prospectus in December, Moneycontrol has learnt
BUSINESS
Swiggy increases IPO size: Company to now raise Rs 5,000 crore in fresh issue up from Rs 3,750 crore
An increase of Rs 1,250 crore or $150 million, as Swiggy readies a cash chest in a highly competitive market where rivals are in a land-grab mode.
BUSINESS
Byju's auditor BDO resigns after seeking forensic audit, founder Raveendran alleges blackmail tactics
In a letter to Byju's board, which only includes the founder's family currently, BDO has however said the company lacked transparency, a sentiment even previous auditors have highlighted.
BUSINESS
Zepto picks Goldman Sachs, Morgan Stanley and Axis Capital for its IPO
While three investment banks have been finalised, Zepto is likely to add more names as part of the final IPO syndicate. The company is aiming to raise about $450-500 million through a fresh issue of shares, sources told Moneycontrol.
