BUSINESS
Narayana Murthy’s Catamaran eyes Amazon-like joint ventures in precision manufacturing
We're looking for a Y2K moment for precision manufacturing here in India, Ranganath MD, Chairman at Catamaran told Moneycontrol in an interview.
BUSINESS
Nykaa block deal: Banga family to sell nearly 2% stake worth $150 million
A total of 16 million shares in FSN E-commerce will change hands at a discount of 4-5 percent from July 2 levels.
BUSINESS
Virat Kohli opens Agilitas innings with Rs 40-crore investment in first tranche
Kohli’s initial investment of Rs 40 crore is the first tranche of a larger round. He is set to invest more money personally and increase his involvement with Agilitas
BUSINESS
Lenskart to skip confidential route, file DRHP publicly by first fortnight of July
Bansal is also riding on the popularity of Lenskart, and his personal brand, built on the Indian edition of the show Shark Tank.
BUSINESS
Ashish Dave to step down as CEO of startup backer Mirae Asset Venture Investments
Mirae’s India team will continue to look after its investments in the country once CEO Dave moves on.
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.
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
DailyHunt to give up office space in Bengaluru, lower rent by Rs 60 lakh per month
In the past, companies like DealShare, Byju’s, Dunzo and others have all given up their office space to bring down costs by a few crores, improve their financial health and increase their cash runway.
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
IPO-bound Meesho to finalise India flip back in coming days
Flipping its headquarters back to India is the last step for IPO-bound Meesho before it proceeds to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
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
With a focus on meals below Rs 150 and offline-equal prices, Rapido’s Ownly is a zero commission food delivery model for Bharat
Rapido will aim to take on the long held duopoly enjoyed by Zomato and Swiggy in the online food delivery space. As it happens, Swiggy is an investor in Rapido.
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
Walmart-owned Flipkart names Ravi Iyer as new CFO
Sriram Venkataraman will continue to be the CFO of the Flipkart Group, the memo, reviewed by Moneycontrol, showed.
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
After groceries, services and fashion, baby care is quick commerce's next frontier
Cavi, a startup that delivers bay products in 30 minutes, is in advanced stages of raising $3-4 million from Stellaris Venture Partners. Its rival, Ozi, is raising a similar amount from Blume Ventures, sources told Moneycontrol.
BUSINESS
Tata Digital to shift HQ from Mumbai’s Fort to Lower Parel; to save Rs 2 crore in monthly rent
As Tata Digital moves into a smaller office space, it has given its Mumbai-based techies the option to relocate and move to the Bengaluru office, closer to CTO Vinay Vaidya, sources said.
BUSINESS
Zepto's Aadit Palicha accuses rival CFO of targeting quick commerce company with a smear campaign
In the wider quick commerce space, Zepto also counts Flipkart Minutes and Tata BigBasket as rivals.
BUSINESS
Zepto's monthly employee costs near Rs 100 crore, reaching 80% of larger rivals Zomato and Swiggy
Zepto’s monthly wage bill of around Rs 100 crore is 80% of what Swiggy and Zomato pay for similar costs, despite having other units like food delivery, dining out, B2B and more. Zepto’s workforce is half of key rivals.
TECHNOLOGY
MC Interview | India should be proud of Meesho and Rapido, see potential for $50 billion firms here: Prosus chief Fabricio Bloisi
In a freewheeling conversation with Moneycontrol, the Brazilian entrepreneur and investor said Prosus’ India portfolio can grow 5X to $50 billion in the next few years, as five of its companies gear up for IPOs this year.
BUSINESS
MC Exclusive: Prosus plans five IPOs this year; Sees India portfolio hitting $50 billion within three years: CEO Fabricio Bloisi
While Prosus stands to make gains from the IPOs, Bloisi said he wants to put more money on the table, to make India grow faster and is in no rush to sell shares.
