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  • Centre Mulls Response After Supreme Court Rejects JSW Steel’s INR 19,350 Crore BPSL Resolution Plan

    The Indian government has indicated it will thoroughly scrutinize the Supreme Court’s recent decision to nullify the INR 19,350 crore resolution plan for Bhushan Power & Steel Ltd (BPSL) that was submitted by JSW Steel. Department of Financial Services (DFS) Secretary M. Nagaraju said in Mumbai that talks have been held with the concerned lenders and legal advisers, and that the matter is under active consideration. A final decision, involving possible legal remedies, will be made soon.

    This development follows the court’s order on Friday that pointed to significant delays in working out the resolution plan and in JSW’s failure to meet upfront payment obligations, in all respects, it seemed, to get the company rehabilitated within the stipulated timeline. In other instances where the NCLT has intervened, it has recommended working out differences between creditors and debtors rather than completely rewiring a resolution scheme that had already been approved.

    Major State Lenders Impacted by Reversal

    The directive from the Supreme Court has immediate and significant financial ramifications for major state-run banks such as the State Bank of India (SBI) and Punjab National Bank (PNB), both of which were leading creditors to BPSL. According to the directive, financial creditors must return to BPSL sums of money that they received from JSW Steel, including any payments that might have been made in the form of post-resolution equity.

    JSW Steel and the creditor banks can challenge the apex court’s judgment by filing a review petition. But legal experts say the usual scenario of reversing an order that had earlier set a resolution plan in motion was not expected. Indeed, in this case, the apex court did not just stay the order earlier passed by the NCLAT but set it aside as well.

    The order of liquidation, coming close to four years after the corporate insolvency resolution process was completed, has drawn a good bit of criticism from both legal and financial observers. They say that delay after the appearance of a promise of a time-bound and efficient resolution framework injects ambiguity into what is supposed to be a clear, efficient, and fast resolution to a corporate insolvency. That, they say, could make future resolution applicants more hesitant to make aggressive bids for distressed assets through insolvency courts.

    Nagaraju recognized that several legal avenues are still open and told stakeholders to expect a carefully calculated strategy to be unveiled as soon as internal consultations are wrapped up. For now, though, the decision has intensified the conversation about how consistent our judges can be and how safe we should feel in the IBC regime.

    Concerns Over Future of Debt Recovery Through IBC

    Since the Insolvency and Bankruptcy Code was instituted in December 2016, banks have managed to recover better than 31 percent of admitted claims. More often than not, they have realized over 160 percent of the liquidation value. They would have realized even more had the JSW-BPSL case not threatened to disrupt this trend.

    Experts caution that unless corrective measures are put in place, creditor confidence in the IBC process could decrease, which might lead to fewer aggressive resolution efforts. If the attention keeps coming, the flow of capital and interest in reviving financially stressed firms through well-structured processes might also decrease, reversing the substantial progress made in India’s insolvency framework.

  • Warren Buffett to Remain Berkshire Hathaway Chair After Stepping Down as CEO

    Warren Buffett, often seen as the world’s greatest investor, will retire from his role as chief executive officer at Berkshire Hathaway after 2025. He will, however, remain with the company in a role that Buffett himself described as “last man standing”, chairman of the board. While this is the end of an era of leadership that spanned more than 50 years, it is a transition that many insiders believe has been well-planned and one that lapses into talk of continuity as opposed to any sense of upheaval.

    This decision comes after a weekend board vote started by Buffett himself. The resolution allows for Greg Abel, current vice-chairman of the conglomerate, to take over as CEO on January 1, 2026. Abel, 62, had been identified as Buffett’s successor since 2021 and has been more visible in company operations over the last few years.

    Buffett’s Legacy of Long-Term Value

    In Buffett’s watch, Berkshire Hathaway flipped from a floundering textile manufacturer into a USD 1 trillion conglomerate, a rarity for a non-tech American company. His disciplined, long-haul investment philosophy, focused on financially fit businesses that churn out reliably predictable earnings, allowed him to amass one of the world’s largest fortunes.

    Today, a varied assortment of well-known brands forms the portfolio of Berkshire Hathaway. Among these brands are Duracell and Geico. Also included in the portfolio are substantial investments in such companies as Coca-Cola, American Express, and Bank of America. The investment strategy employed by Buffett and Charlie Munger, Vice chairman of Berkshire Hathaway, is simple and straightforward. They buy companies that they understand well, and they hold on to them.

    Board Endorses Greg Abel as Next CEO

    The board’s unanimous vote to appoint Greg Abel as the next CEO is a very strong endorsement of the transition plan. Abel is currently overseeing Berkshire’s non-insurance operations, which consist of the company’s energy and transportation businesses. His operational leadership, along with his understanding of how to manage in the Berkshire system, make him the choice most everyone at Berkshire seems to be comfortable with. Abel has been rumored to be the heir apparent to Buffett for some time now. While he is a natural to take over the job, it isn’t necessarily a slam dunk.

    The time was right, said Buffett, for Abel to become top exec. It was a boost for succession planning, something that is often part of Berkshire’s low-key but steady leadership ethos. Investment decisions made in the near future, like the one being monitored now, are part of that ethos. And unless they are made under some pretty extreme or unusual conditions, they are made with the long term in mind.

    Even with the well-thought-out transition plan, Berkshire Hathaway stock fell about 3.2 percent in pre-market trading after the announcement. Investors seem to be handling two kinds of issues: the first is the emotional and symbolic act of Buffett giving up control over the daily affairs of the company; the second, which is mostly tied to that first issue, is a kind of value judgment over exactly how competent Abel is, now and in the future, to manage a company of this size and complexity. Buffett’s ongoing leadership as board chair likely reassures anxious investors that all is well in the company’s C-suite.

  • India Tightens Satellite Internet Rules Ahead of Starlink, Kuiper Launches

    The Department of Telecommunications (DoT) has laid the groundwork for a total revamp of the security mechanism for satellite-based internet service providers. This was long overdue, considering that players like Starlink and Project Kuiper, from the global big shots of the telecom industry, are knocking on the doors of the Indian market. The DoT thinks the new avatar will better defend national interests.

    The new guidelines require all licensees to obtain specific security clearances for each gateway hub in India, with a focus on real-time surveillance, domestic data routing, and operational transparency. Additionally, operators must set up lawful interception systems at key infrastructure points before starting commercial operations. These measures are designed to tighten security controls in an increasingly sensitive digital environment.

    Indian Infrastructure Mandate and Geo-Fencing Requirements

    The revised regulations make clear that the most fundamental parts of the technology core, monitoring parts, data control parts, and routing parts, must be located within the geographic borders of India. They also leave no doubt that service providers must use geo-fencing to keep the signals within the same borders. Otherwise, you get into a complicated situation, especially if you’re trying to put a system near an international land border or coastal region.

    Denying or restricting service to certain geographical areas or specific users, especially during emergencies or under government direction, is an operator responsibility. This ensures that national agencies can exercise control over service coverage, even in high-risk areas. The government also wants the NavIC satellite navigation system integrated into the telecom networks by 2029.

    Terminal Authentication and Real-Time Tracking Now Compulsory

    A notable aspect of the new framework is its emphasis on the registration of user terminals and real-time authentication. All devices, whether fixed or mobile, operating in Indian territory must be authenticated locally before accessing satellite network services. Devices not previously registered, or that were manufactured outside of India, must be verified before being used, even in areas that are supposed to be within satellite network coverage.

    Precise tracking of user terminals must be enabled by operators. This requires that the shared data be sufficiently accurate and up-to-date to allow for real-time decision-making by authorities. That, in turn, mandates some rather unforgiving stipulations for mobile units. Updates must go out either every 2.6 kilometers or every minute, whichever comes first, and no update can be missed. This is roughly the same pace at which a human runs.

    Data Sovereignty and Technical Compliance Cement Control

    The most recent guidelines are quite firm about data sovereignty. All internet traffic originating from satellite services must pass through Indian gateways. And there are strict rules about not decrypting, duplicating, or storing telecom data anywhere outside the country. Making any satellite-to-satellite or terminal-to-terminal in-space peer-to-peer communication is also explicitly prohibited.

    Moreover, businesses must show adherence to India’s technical standards for non-geostationary satellite networks (NGSO), Earth Stations in Motion (ESIM), and Transportable Earth Stations (TES) before they can launch services. Data centers, DNS services, and remote operations must follow domestic protocols for hosting and access to data. India has made it clear that for satellite communication to be operational within its borders, there are two requirements: operational readiness and regulatory alignment.

  • Ather Energy IPO Listing on BSE and NSE With Modest Premium

    Ather Energy made its stock market debut on May 6, 2025, with its shares listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The electric two-wheeler manufacturer’s IPO had closed with lukewarm interest, and market analysts had already predicted a cautious start. As expected, Ather’s shares opened with a modest gain, reflecting a subdued grey market premium (GMP) and limited enthusiasm from non-institutional investors.

    With a share price of INR 321, the IPO had a grey market premium of just INR 14 on the eve of listing, which translates to a possible 4.36% gain. But while investors were betting on the big up move, their extreme enthusiasm was being weighed down by nagging concerns over the EV sector’s profitability.

    Subscription Data Paints a Mixed Picture

    The IPO, which took place from April 28 to April 30, was not in great demand, showing a mere 1.43 times overall subscription by the time the offering was completed on May 2. Qualified Institutional Buyers (QIBs) expressed some interest in the company, but only at the very end of the offering window. Call it a timid thumbs up from those who generally lead the charge. But at least it made for a slightly more palatable offering than it would have been otherwise.

    Observers in the market have taken to believing that Ather’s pricing strategy is rather aggressive. This belief is particularly strong when one makes comparisons to fellows in the sector such as Ola Electric. The latter’s own post-IPO performance has left something to be desired, to put it mildly. Ather, of course, is a brand that many people respect, especially in the space of electric vehicles. Analysts have taken to saying that the lack of enthusiasm for the Ather IPO suggests that the investing public wants to see clearer paths to profitability before it showers electric vehicle manufacturers with the kind of sky-high valuations that our parents used to call rich.

    Short-Term Outlook: Volatility and Risk

    Experts are cautious about how Ather Energy’s stock will perform in the near term. They see the electric two-wheeler market as still working through scaling issues and margin pressures and expect the sector to enjoy substantial volatility. In this context, they see Ather’s stock as likely to be flat to just nudging up or down within a fairly narrow range unless we get some exciting news from Ather on that operational front or on how ramped-up production is going.

    Those who can handle risk may wish to retain their current investments and wait for the long-term to see if the situation improves. However, investors who prefer a more conservative route are better off biding their time and watching how this situation plays out.

    The IPO worth INR 2,981.06 crore consisted of a fresh public offering of shares for INR 2,626.30 crore and an offer for sale (OFS) of about INR 354.76 crore by some existing shareholders. Now, the company faces the challenge of not just meeting investor expectations but also making a go of it in the ever more competitive and rapidly changing EV space in India.

  • Eatsome Backed by Bullion Mouth Fresheners with Half a Million Dollars (INR 4 Cr) to Revolutionize Global Mouth Freshener Market to Reach 500 Cr

    New Delhi [India], May 5: India’s mouth freshener and confectionery space is set for a flavorful revival with the launch of Eatsome, a new-age D2C brand reimagining traditional Indian tastes for today’s consumers. Leading the vision is Krishan Arora, Founder & Chief Business Architect, and part of BD Group, who brings years of expertise in real estate project sales, leasing, and investment advisory. Having worked nationwide with top brands like RBL, Tata, Aditya Birla, and Landmark, Krishan Arora understands investor mindsets and business scalability. With Eatsome, Krishan Arora transitions into FMCG retail, aiming to build with a vision of rising to 500 crores in 5-year Plan, seeing how FMCG has pthe otential to grow rapidly and creating a brand that resonates with today’s youth, stays true to Indian roots, and meets investor expectations for growth and sustainability.

    Rooted in heritage yet driven by innovation, Eatsome offers a thoughtfully curated range of mouth fresheners, candies, and Ayurvedic-inspired digestives designed to resonate with modern lifestyles while staying true to authentic Indian flavors.

    Eatsome Secures Half a Million Dollars (INR 4 CR) Resource Support from Bullion Mouth Fresheners

    Recognizing the fragmentation and hygiene gaps in the traditional mouth freshener market, BD Group, with already 3 successful ventures, directed by Gopal & Krishan Arora, joined forces with a giant in the said industry, Bullion Mouth Fresheners, led by stalwart Anuj Bagla, to form the Reliable Group in unity. Anuj Bagla is not just handling a 65-year-old legacy in the Indian mouth fresheners industry but has taken this family business to great heights. The Bagla Family is a legacy name in the Indian Mukhwas Industry with Household & Market Trust. 

    Krishan Arora, Founder, Eatsome
    Krishan Arora, Founder, Eatsome

    Instead of traditional funding, Bullion Mouth Fresheners has extended a $500,000 resource backing to Eatsome, to be strategically utilized over four years. This support includes access to manufacturing facilities, logistics, sourcing capabilities, and backend compliance infrastructure, laying a strong foundation for Eatsome’s structured and scalable growth.

    This strategic backing positions Bullion Mouth Fresheners as a resource partner and co-founder in Eatsome. Anuj Bagla brings extensive supply chain knowledge, while Krishan Arora steers vision and structure. Gopal Arora, Co-Founder: Eatsome, who contributes his expertise in building robust D2C ecosystems, performance marketing, and branding, all aligned with BD Group’s long-term business growth mindset. 

    To plan a whole new advanced EATSOME business scalability plan infused with modern marketing & sales campaigns, Sovy Kaur (CEO), a marketing & business visionary with 8+ years in branding, sales, PR, influencer strategy, and retail visibility, has set the path with a team of 15 professionals across D2C operations, retail, franchising, and collaborations, the brand is fully equipped for scalable growth.

    Revolutionizing Indian Taste with a Scalable Model

    Eatsome’s core lies in its flavor-packed, wellness-driven approach. Our range of mouth fresheners like Mitha Paan Supari, Royal Rajwadi Mukhwas, and Jet Chhuara aren’t just about taste—they’re rooted in age-old Ayurvedic traditions known to aid digestion and refresh the palate. Each blend is thoughtfully crafted to be your everyday companion for freshness, after every meal or on the go.

    Eatsome’s approach is to offer premium, hygienic, and affordable products that connect with Gen Z and millennials. Focused on taste innovation, quality control, and city-inspired flavors like Calcutta Paan and Rajasthani Sonff, the brand brings structured operations to an otherwise fragmented industry. Eatsome is also reviving the iconic redi carts—transforming them from unhygienic, unorganized setups into clean, modern, and attractive carts that reflect quality and trust. From a robust manufacturing facility to world-class packaging and more flavorful blends, every step is designed to elevate how India consumes its age-old favorites.

    Eatsome Carts
    Eatsome Carts

    Key distribution channels include:

    • Eatsome Carts: Compact, hygienic kiosks for on-the-go customers.
    • D2C & E-commerce: Direct sales through the Eatsome website and top marketplaces.

    Beyond Fresheners – The Bigger Vision

    Eatsome aims to grow internationally; it plans to enter the Gulf, North America, and Europe as demand for Indian flavors grows globally. Also, planning to expand into a full-fledged Indian snacking brand, introducing:

    • Healthy Snacks like Makhana, Ragi, and Jowar Puffs
    • Roasted & Traditional Mixes including Peanuts, Nachos, and Murmura

    This expansion aligns with the brand’s goal of combining Indian tradition with modern nutrition and convenience.

    The Future of Opportunities, Gifting, Snacking & Digestive Culture

    With Bullion Mouth Fresheners’ strong production system and BD Group’s powerful leadership team and guidance, Eatsome is poised to redefine how India and the world experience its heritage. From colorful carts to healthy treats, Eatsome is India’s flavorful revolution wrapped for the future—now extending business opportunities through low-investment franchising, empowering anyone, anywhere, especially women, to start earning and growing with us.

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    StartupTalkyArbaz Sayed

  • Evera Cabs Powers Up with 1000 BluSmart EVs in Expansion Drive

    Evera Cabs, an app-based electric taxi service provider, announced on 5 May that it has begun the process of reclaiming 500 electric taxis that were formerly run by the troubled BluSmart.

    According to a statement from Evera Cabs, 220 cars have already been purchased, and the remaining 280 will be reclaimed in the days ahead. With a particular emphasis on airport mobility, the company hopes to strengthen its position as a top provider of electric taxi services, it noted.

    According to Evera, “a big chunk of BluSmart drivers” are lining up to join the fleet integration, with 10% of them being women. In order to guarantee service readiness as the fleet grows, about 150 drivers have begun making trips, and recruitment efforts are still underway.

    Nimish Trivedi, co-founder and CEO of Evera, stated that the company’s operations are a realignment of the electric mobility narrative in India rather than merely a scale-up. Evera is moving forward with a defined goal as major players reassess, acquiring dependable drivers and tested EV assets to guarantee continuous service on important routes.

    Move Aimed at Strengthening Evera’s Presence in NCR

    As part of a multi-phase strategic plan to strengthen its position in the highly competitive airport taxi industry in the National Capital Region, Evera announced it had repossessed BluSmart’s taxis through its lenders.

    The company announced that it will expand its airport network in the subsequent phase by providing services at all terminals of Delhi’s airport. It previously operated exclusively from Terminal 3, but the integration of new vehicles has enabled full-terminal coverage.

    The capital market regulator Sebi banned Gensol Engineering and its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, who are also co-founders of BluSmart, from the securities markets in a case involving fund diversion and governance lapses. As a result, BluSmart, an electric cab-hailing platform, suspended operations in Delhi-NCR, Bengaluru, and Mumbai last month.

    BluSmart Drivers Hit the Brakes Over Unpaid Dues

    Weeks after the EV ride-hailing company abruptly suspended operations, hundreds of BluSmart driver partners have started protesting throughout Delhi-NCR, calling for compensation and alternative employment.

    The drivers, many of whom call BluSmart the best platform they’ve ever used, claimed they were left in the dark about unpaid invoices and received no official word from the company. It is predicted that more than 10,000 drivers in Bengaluru, Mumbai, and Delhi-NCR will be impacted.

    The protests follow the Securities and Exchange Board of India’s (Sebi) decision to bar Jaggi brothers  from holding board positions and accessing the securities markets due to accusations of document forgery and fund syphoning in their solar EPC company, Gensol Engineering, which is closely associated with BluSmart.

  • Chhattisgarh Leads the Way with India’s First AI-Driven Data Centre Park

    Chhattisgarh Chief Minister Vishnu Deo Sai laid the cornerstone for the nation’s first artificial intelligence-based data centre park in Sector-22 of Nava Raipur on 3 May.

    The state-of-the-art complex, which spans 13.5 acres, is expected to put Chhattisgarh in the forefront of India’s technical advancement. Five megawatts of capacity will be available at first in the data centre park, with the ambitious goal of scaling to 150 megawatts.

     In a first for the nation, a 2.7-hectare section of the park is being transformed into a Special Economic Zone (SEZ) dedicated solely to AI-based services. As the project grows, an additional investment of Rs 2,000 crore is anticipated.

    This development is revolutionary not only because of its scope but also because of its ambition. The centre will function as a centre for high-performance computing, providing services in AI, FinTech, HealthTech, Defence, and data analytics, with a particular emphasis on green, energy-efficient technologies.

    CM Sai described the project as “transformational” for the state’s youth, farmers, and tribal groups, saying it is more than simply a data centre and serves as the digital foundation for a new era of empowerment and growth.

    State-of-the-Art Facility

    The facility will be firmly among the world’s best thanks to its GPU-based architecture for real-time data processing, live streaming, and AI-powered analytics.

    With a focus on local youth, the programme aims to generate 2,000 jobs, with 500 direct and 1,500 indirect employment opportunities anticipated. The park makes Chhattisgarh a new hub for high-tech companies by bringing together AI computing, data processing, storage, and analytics under one roof.

    Connecting Agriculture Sector with Technology

    AI tools, weather forecasting, real-time crop monitoring, and intelligent supply chain solutions will all help smart farming and directly benefit regional agriculture. Remote tribal territories will be connected by digital infrastructure, enabling previously underserved areas to access online government, telemedicine, and e-education.

    By managing both internal and international data traffic, the centre will lessen Chhattisgarh’s reliance on outside infrastructure and move the state closer to becoming digitally independent.

    CM Sai declared, “Chhattisgarh is ready to become the heartbeat of Digital India,” as the state confidently stepped towards a more intelligent, quicker, and inclusive digital future.

    The opening of India’s first AI-based data centre park in Raipur represents a wise step towards more sophisticated technology for the whole country. It’s anticipated that Chhattisgarh’s use of AI to advance sustainable development goals and build a stronger community would serve as an example for other states aiming to create a more technologically advanced India.

    By highlighting AI technologies, the state hopes to raise economic activity, improve the administration of public resources, and improve the quality of services offered.

  • FinX Acquires BSE Institute in Bold AI Skilling Push

    For INR 16.9 Cr (about $2 Mn), the skilling startup FinX, which focuses on financial services, has purchased a 100% share in the Bombay Stock Exchange’s training division, BSE Institute.

    According to a statement from FinX, the acquisition would allow the company to increase the number of training programmes it offers in cutting-edge technological fields like IT, data science, cybersecurity, and artificial intelligence. FinX will be able to significantly grow its clientele, training facilities, and product line thanks to the agreement.

     Himanshu Vyapak, cofounder and CEO of FinX, commented on the acquisition, saying that with this expanded product line, FinX will offer a full range of programmes to meet the changing demands of the technology and financial services industries, providing state-of-the-art training options for the workforce of the future.

    To increase its scale, FinX intends to use the physical training facilities of the BSE Institute in Mumbai, Delhi, and Kolkata, he told a media outlet.

    FinX Carving Future of India’s Financial Sector

    FinX, which Vyapak founded in 2019, offers workshops and certification programmes to prepare students for careers in the banking, financial services, and insurance (BFSI) sector. Additionally, the startup asserts that it places the trained pupils.

     So far, the Mumbai-based business has collaborated with over 400 Indian institutions and universities to deliver its courses. Interestingly, this is not the first acquisition of the upskilling platform. The Centre for Investment Education and Learning (CIEL), which has been providing corporate training in the BFSI industry for more than 17 years, was purchased by FinX in 2019.

    The most recent acquisition was made just months after FinX raised $6 million from impact investment firm Elevar Equity in December 2024 as part of its seed funding round. The business stated at the time that it will use the recently obtained capital to pursue strategic acquisitions in the technology training and BFSI sectors.

    Young Indian Honing Tech Skills to be the Prime Workforce of Country’s Tech Sector

    More and more Indian programmers are looking to the cutting-edge technology as AI takes the world by storm in an effort to further their careers, get well-paying positions, and differentiate themselves from their colleagues.

     Aware of this, the Centre has started a number of programmes to close the knowledge gap between school and work and equip the nation’s young people for the jobs of the future.

    In her Budget 2024–25 speech, Finance Minister Nirmala Sitharaman unveiled a new plan to renovate 1,000 Industrial Training Institutes (ITIs) and teach 20 lakh youth over five years. With an investment of INR 8,800 Cr, the Union Cabinet earlier this year approved the continuation and reorganisation of the “Skill India Programme” through 2026.

    As part of this, the Centre said that the Jan Shikshan Sansthan (JSS) Scheme, the Pradhan Mantri Kaushal Vikas Yojana 4.0 (PMKVY 4.0), and the Pradhan Mantri National Apprenticeship Promotion Scheme (PM-NAPS) will all be incorporated into the Skill India Programme.

    According to government data, PMKVY 4.0 has so far trained 19,774 people in a variety of artificial intelligence (AI) courses. In addition, there are a number of businesses that are attracting a lot of interest from investors and aiming to upskill working people and students.

    For example, Emversity, an edtech business founded by former Unacademy COO Vivek Sinha, recently secured $5 million in its pre-Series A investment to provide healthcare students with skill-based certificate and degree programmes.

  • Titan Capital Launches ‘Indicorns 2025’ to Honour India’s 202 Most Profitable Startups

    In a bold departure from the valuation-driven unicorn narrative, Titan Capital, one of India’s leading seed-stage venture capital firms founded by Kunal Bahl and Rohit Bansal, unveiled the ‘Indicorns 2025 List’ at India Internet Day. The Indicorns index honours startups that have not only surpassed ₹100 crore in annual revenue but have also achieved profitability, signalling true long-term business sustainability.

    In a startup ecosystem largely focused on headline valuations, Indicorns offers a refreshing perspective by recognising companies that prioritise profitability, durability, and value creation. These businesses represent a new wave of founders focused on building scalable, resilient enterprises designed to thrive for decades.

    Each of the 202 companies featured in the Indicorns 2025 list was founded within the last 15 years. Some have scaled profitably without any external funding, while others have gone on to be acquired or listed publicly. Together, as of FY24, these companies generated a cumulative revenue of INR 1,51,137 crore and profits of INR 7,393 crore, a testament to their financial strength and operational excellence.

    Key Highlights from Indicorns 2025:

    • Regional Leaders: Delhi NCR tops the list with 51 Indicorns, followed closely by Bengaluru with 42, and Mumbai with 35.
    • Growth Trajectories: 8 startups hit Indicorn status in under 5 years, 92 within 10 years, and 102 within 15 years.
    • Sector Powerhouses: Key industries driving the Indicorn wave include Fintech (50 startups), E-commerce (16 startups), and Logistics (13 startups).
    • Featured Companies: Notables like OfBusiness, OYO, Razorpay, Unicommerce, and Beardo headline the list.
    • Company Stages: 69 bootstrapped Indicorns, 12 acquired companies, and 13 are publicly listed

    The data for Indicorns 2025 has been sourced in collaboration with Tracxn, a global private market intelligence platform tracking over 3 million startups across 2,700+ sectors. TiE Delhi-NCR, a premier global entrepreneurship network, joins as the Ecosystem Partner for this initiative, amplifying its mission of celebrating sustainable entrepreneurship.

    Speaking on the launch of the 2025 Indicorns List, Kunal Bahl, Co-founder, Titan Capital, said, “ For too long, success in the startup world has been equated solely with sky-high valuations. With Indicorns, we’re celebrating a different kind of success—one rooted in fundamentals like profitability, sustainable growth, and real impact. These companies are proving that building enduring businesses in India is not just possible, but already happening at scale. We hope this list inspires a new generation of founders to chase not just scale, but strength.”

    The Indicorns platform offers rare insight into these high-performing startups, from their financial metrics to growth playbooks, serving as an essential resource for founders, investors, corporates, and policymakers alike. These 200 Indicorns have also collectively created over 1,46,705+ jobs, reinforcing their contribution to India’s economy and innovation ecosystem.

    By shifting focus to profit-first growth, Indicorns exemplify what it means to build for the long term—businesses that are stable, scalable, and enduring. The list will be updated annually, welcoming new entries based on performance and market dynamics.

    About Indicorns

    Indicorns are India’s most financially successful startups, each surpassing INR 100 crore in revenue while maintaining profitability. Founded in the last 15 years, these companies span multiple sectors and growth journeys, from bootstrapped operations to IPOs, showcasing what sustainable entrepreneurship truly looks like.

    About Titan Capital

    Titan Capital backs world-class entrepreneurs building transformative companies from the ground up. As one of India’s most active seed-stage investors, Titan has backed over 250 startups, including Ola, Razorpay, OfBusiness, Unicommerce, Urban Company, Shadowfax, Credgenics, Giva, and many more, supporting founders from idea to IPO.

    List of Kunal Bahl Investments | Startups Funded by Shark Tank India’s Strategic Shark
    Kunal Bahl is the co-founder of Snapdeal and has invested in many companies in and out of Shark Tank India. Check out the list of all Kunal Bahl’s investments. Explore the list of Kunal Bahl’s portfolio companies here.
    StartupTalkyMuskaan Kapoor

  • Tata-NXP Fab Talks Signal Bold Leap in India’s Chip Race

    According to reports, Tata Electronics is in talks to add NXP Semiconductors, a leading semiconductor design company, as a major client. Through their agreement, Tata will manufacture NXP’s products at its outsourced semiconductor assembly and test (OSAT) facility in Assam and its future semiconductor fab factory in Gujarat.

    According to one of the sources, the agreement is anticipated to replicate Tata Electronics’ previous collaboration with Analogue Devices, a US-based semiconductor manufacturing company, where the company hopes to begin chip production by 2026.

    In September of last year, Analogue Devices and Tata Electronics, Tata Motors, and Tejas Networks signed a memorandum of understanding (MoU) to investigate potential collaboration in semiconductor production in India.

     At that time, the Tata Group-owned company committed to producing Analogue Devices’ goods at both its OSAT facility in Assam and its future semiconductor fabrication site in Gujarat.

    Shifting Away from Taiwan

    Even though businesses like NXP have their own factories, they frequently outsource some of their production, which is where OSAT and the Tata fab can be useful. A media article claims that businesses desire to have an alternative to depending entirely on companies like TSMC, a well-known Taiwanese semiconductor contract manufacturing and design firm.

     The research went on to say that while there aren’t many options at the advanced node, businesses like NXP would profit from bringing in players like Tata Electronics in the mature nodes.

    Neil Shah, vice president-research at Counterpoint Research, emphasised the Tata Group’s long-standing partnership with NXP as the primary motivation for this action. NXP is a natural fit because of their existing business, particularly in automotive chips, and it only makes sense for Tata Electronics to talk to a number of potential customers and construct an India Rolodex for their forthcoming fab.

    Tata’s Fab to be Operational Later this Year

    Later this year, Tata’s Dholera factory, which can produce 50,000 wafer starts each month, is anticipated to be operational.

    In addition to power management chips for electric cars, telecom, defence, automotive, consumer electronics, display, and power electronics, the facility will manufacture high-performance computation chips using 28 nm technology.

    Applications for power management chips involve high voltage and high current. With a daily capacity of 48 million, Tata Semiconductor Assembly and Test (TSAT) at Morigaon, Assam, is creating domestic advanced semiconductor packaging technologies, such as flip chip and integrated system in package technologies.

    Mobile phones, consumer electronics, telecom, electric vehicles, and automobiles are among the markets it will serve. In September of last year, Tata Electronics and ADI inked a memorandum of understanding (MoU) to investigate contract manufacture of the latter’s products in India.