Swiggy, the prominent food delivery and quick-commerce platform, has undergone a significant corporate transformation by converting itself from a private limited company to a public limited company. This strategic move, revealed through documents filed with the Registrar of Companies, has led to the alteration of the company’s name from Swiggy Private Limited to Swiggy Limited, […]
Invesco, the US-based asset management company, has once again revised the valuation of Indian food delivery giant Swiggy, raising it to USD 8.3 billion, according to recent regulatory filing. This marks the second consecutive adjustment to Swiggy’s valuation by Invesco. As of 21 October 2023, Invesco held 28,844 shares in Swiggy, with a total value […]
Apple witnessed a sharp decline of nearly 3.6 per cent on Tuesday, marking a seven-week low, as Barclays downgraded the company’s shares amid concerns of sustained weak demand for its range of devices, from the flagship iPhone to the Mac, throughout 2024. This downgrade from Barclays, the second brokerage to issue the equivalent of a […]
Meesho’s operating revenue grew by 77 per cent to Rs 5,735 crore for FY 2023 against Rs 3,232 crore in FY 2022, while incurring a loss of Rs 3,247 crore, according to a media report on Friday. The company highlighted that its loss for FY 2023, narrowed by 48 per cent to Rs 1,675 crore. […]
In a regulatory filing on 28 December, 2023, prominent online food delivery platform Zomatohas stated that it has received a show cause notice (SCN) from the Goods and Services Tax (GST) office. The notice pertains to an alleged tax liability of Rs 401.7 crore, accompanied by interest and penalties, related to the collection of delivery […]
Oyo has unveiled plans to prepay a substantial portion of its debt totaling Rs 1,620 crore through a buyback process. The company, on the brink of an IPO, is set to repurchase 30 per cent of its outstanding Term Loan B (TLB), the company revealed to Bloomberg. The debt repayment, slated for June 2026, follows […]
The shares of Honasa Consumer, which owns the beauty and personal care brand Mamaearth, saw a muted debut on the Indian stock exchanges with just over a 2 per cent premium on Tuesday. Honasa Consumer has listed at Rs 333 per share, against the IPO issue price of Rs 324. At the time of filing […]
The Indian rupee rose on Monday, but higher near-maturity US Treasury yields were expected to limit the upside for the currency. The rupee was at 82.61 against the US dollar by 10:35 a.m. IST, compared with 82.6475 in the previous session. The domestic currency reached an intraday high of 82.5325. The two-year US Treasury yield […]
TiE Delhi-NCR, an organization fostering entrepreneurship nationally, hosted the Delhi leg of its flagship event- India Internet Day (iDay), bringing together the brightest minds of the tech industry. This was close on the heels of the launch of the flagship event in Bengaluru in partnership with TiE Bangalore on 24 August. The 12th edition of […]
Amid the ongoing concerns of global economic slowdown and a possible recession in the United States (US), the Bank of Baroda in a report on Saturday has said that a weaker rupee will improve India’s export competitiveness. According to government data, India’s exports reportedly contracted by 15.88 per cent to USD 32.25 billion in July […]
