Prosus, the largest shareholder in Swiggy, revealed a 35 per cent reduction in its share of the Indian food-delivery giant’s losses, amounting to USD 208 million for the half-year period ending on 30 September. Prosus, based in Amsterdam and affiliated with the South African conglomerate Naspers, holds a 32.7 per cent stake in Swiggy. Considering […]
Chinese payment group Alipay, a subsidiary of Ant Group, is reportedly planning to divest its 3.4 per cent stake in the food delivery platform Zomato for approximately USD 400 million through block deals on Indian stock exchanges, the news agency Reuters reported. Alipay is set to sell its entire 3.44 per cent stake in the […]
The founder and CEO of used car marketplace ‘Droom’, Sandeep Aggarwal said on Wednesday that the company plans to come up with an initial public offering (IPO) in March 2025. In an exclusive interview with ANI, Aggarwal said that the company is planning to restart the IPO process next year and in March 2025, the […]
Amazon Seller Services, the marketplace arm of Amazon India, has reported a 33 per cent surge in its net loss for the fiscal year ending March 2023, reaching Rs 4,854 crore compared to Rs 3,649 crore in the previous fiscal period. According to regulatory filings, the company witnessed an almost 8 per cent increase in […]
Chinese fashion giant Shein has confidentially filed for an initial public offering (IPO) in the United States. Founded by entrepreneur Chris Xu in 2012, Shein has become a global fashion marketplace with a direct-selling model, targeting its millions of social media followers. The company, known for its affordable clothing, claims to have over 250 million […]
Havells acquired ‘Lloyd’ in 2017 and it currently stands among the top 3 AC brands in India. Lloyd is now expanding its focus to the Middle East, offering a range of technologically advanced and energy-efficient products. The launch portfolio includes premium ACs (Fixed speed, Inverter, and Hot & Cold), front-load and semi-automatic washing machines, frost-free […]
Honasa Consumer Care, the parent company of popular personal care brand Mamaearth, has issued a statement refuting recent reports of a block deal involving Employee Stock Ownership Plans (ESOPs). The denial comes in response to a media report on 27 November, which had suggested that employees of Honasa were poised to sell shares worth Rs […]
Hon Hai Precision Industry Co., the company that manufactures iPhones, is planning to invest another NT$50 billion (USD 1.6 billion) in construction projects in India to expand its footprint in the country. The company made the announcement in an exchange filing in Taiwan on Monday, stating that the investment will be for operational needs, without […]
The fintech platform PhonePe is likely to launch consumer lending on its platform by January 2024, according to a report from a leading media house. The Walmart-backed platform is expected to operate as a distributor for personal loans. The fintech is in the final stages of integration with five lenders from banks and non-banking financial […]
Automaker Maruti Suzuki is yet again set to increase the prices of its cars in January. According to the automaker, the proposed hike was necessitated due to an increased cost pressure driven by overall inflation and increased commodity prices. “While the company makes maximum efforts to reduce cost and offset the increase, it may have […]
