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Tag: #news

  • Elon Musk Steps Back from Washington, Government Efficiency Project Pushes On

    Few close to him were surprised when Elon Musk announced he would scale back, in a big way, his direct involvement with the federal government. This was not so much a parting from Washington as a parting of ways in business. During an earnings call, Musk said he would restrict his visits to federal agencies and similar meetings to “a couple of days a week, maximum.” This was described as a shift of sorts for Musk, who has waded deeply into federal issues.

    Even with this withdrawal, Musk is still an influence in international trade, urging President Trump to think again about those heavy tariffs. That said, Trump at the moment, doesn’t seem to be paying much heed to Musk’s suggestions.

    DOGE’s Lasting Influence and Controversial Methods

    Even as Musk reduces his direct influence in Washington, D.C., his work is still felt through the Revenue Doge unit. This initiative, which aims to root out inefficiencies in federal agencies, has led to sharp staffing cuts, contract cancellations, and a major restructuring of several of those agencies. These measures, especially in offices like the Social Security Administration and the IRS, have caused big trouble inside those organizations. In one very disturbing episode, the DOGE staff used the Social Security databases to misclassify some immigrants so that we could deny them services. Critics say what we are doing here is blurring some ethical lines and calling into question some very important public programs.

    Political Cost and Public Scrutiny

    Musk’s extreme cost-cutting has made waves in political circles, especially among lawmakers worried about the prospect of public backlash. The waste that Musk promised to find and publicize has not materialized. Public audits have put his inflated success claims, budget errors, and anachronistic credit-taking for changes made well before the DOGE era into a more realistic frame. Still, President Trump keeps lauding Musk in public and considers the billionaire a prized source of donations.

    Under the leadership of Musk confidant Steve Davis, DOGE is seen by insiders as having the potential to sustain itself without daily direction from Musk. In the federal system, Musk has placed loyalists to ensure continuity of his vision. Advisors now liken the momentum of DOGE to that of a rocket: it was launched with powerful thrust but is now coasting on inertia.

    Musk is now redirecting his energy towards Tesla, SpaceX, and the other companies he runs. Still, he has substantial momentum in the political world. It is unclear exactly how much influence DOGEcoin, the digital currency he champions, will have in the American system of government. But it could become a long-lasting presence, much like its creator.

  • Renault Sets Bold Course for India With Five New Car Launches

    Renault is doubling its commitment to the Indian market. The auto manufacturer is poised to unleash five new models over the next two years as part of a reinvigorated strategy of expansion and localization. By taking complete control of its Indian manufacturing operations, through the acquiring of all shares in RNAIPL, Renault has on-boarded the lead role in driving vehicle production for that joint venture. That next move, coupled with the opening of a design center in India, further cements the brand’s ambitions in an increasingly competitive Indian auto market.

    The next-generation versions of the Triber and Kiger are among several new offerings that Renault plans to launch. Among the new offerings, two highly anticipated SUVs aimed at the B+ and C segments are set to debut. These are two massive growth segments. The segment is seeing big-time growth, growing a lot faster than the overall market. We are seeing growing demand for vehicles in this segment.

    Next-Gen Duster and Bigster Target Premium SUV Market

    Renault’s strategy focuses on launching next-generation models. The highlights of the strategy are:   

    1. Next-generation Duster: Playing on Duster’s legacy as a pioneering compact SUV, first launched in India in 2012. It was a segment pioneer and carried a lot of weight in helping push Renault’s brand image forward in the country. It also had a lot going for it in terms of price positioning and a set of strengths that made it quite appealing to a broad audience.
    2. Bigster: A three-row SUV will compete in the top tier of that segment and should give top contenders like Creta a run for their money.  
    3. Stay Competitive: Deliver features that stand out. Don’t just attempt to match competitors on price. Instead, learn from competitors that offer good features and value for money.  

    Electrification and Multi-Powertrain Strategy

    Renault will take a flexible approach to powertrains for its upcoming vehicles, in line with emerging market trends. The company’s next-generation lineup will include drive systems ranging from internal combustion engines to fully electric powertrains, with hybrids and compressed natural gas vehicles in between. The Duster and Bigster will be the first models to sport hybrid technology, a marked departure from the brand’s previous focus on turbo gas engines.

    Although early speculation pointed to a locally adapted version of the Kwid EV, Renault is indicating a more premium product for its electric entry. In the price range of INR 17 lakh to INR 25 lakh, the new EV will compete with the MG ZS EV, Mahindra BE 6, and the soon-to-launch Maruti e-Vitara. By 2027, the EV segment is set to become even more crowded, with global players like Skoda, Honda, and Volkswagen also throwing their hats into the ring.

  • Sensex Past 80,000 for the First Time in 2025: What’s Driving Gains?

    Indian equity markets entered a new realm on Wednesday when BSE Sensex closed above 80,000 for the first time in 2025, capping yet another seven-day rally. Technology stocks surged leading the charge. The Nifty IT Index registered its biggest single-day jump in nine months. It was set up by HCL Technologies, serving up robust quarterly results, which sent shares up 8%. Infosys, Wipro, TCS, and Tech Mahindra were not left behind, serving up gains of between 3% and 6%.

    The automotive, pharmaceutical, and real estate sectors were moving forward, with their respective stocks advancing by 1% to 2%. In contrast, the banking sector was lagging. Both the Nifty Bank and the PSU Bank indices slipped by around 0.6%. Investment sentiment, however, remained upbeat, bolstered by strong signals from the global markets.

    Global Cues Fuel Domestic Optimism

    Dalal Street drew much of its force from sharp moves on Wall Street. US indices saw large moves to the upside overnight after President Donald Trump made some remarks that seemed to suggest a softening of his hard-line approach to tariffs on Chinese imports. This was read as a potential breakthrough in ongoing trade negotiations, Trump also made reassuring comments about Federal Reserve Chair Jerome Powell, which certainly didn’t hurt market sentiment.

    The immediate impact was felt in the markets. The Nasdaq Composite shot up nearly 4%, the Dow Jones soared 2.3%, and the S&P 500 jumped close to 3% in mid-session trades. These developments lifted investor spirits across Asian markets, including India, pushing benchmark indices to fresh highs.

    FIIs Back in Action

    Foreign institutional investors have been pivotal to the recent upturn of the market. On a single day, Wednesday, FIIs made net purchases to the tune of INR 3,333 crore. Over the last five trading days, they have pumped in around INR 20,410 crore, which is almost USD 2.4 billion, into Indian equities. This renewed foreign capital inflow has imparted a lot of confidence in the domestic investors, and this is what seems to be the main factor behind the rally.

    At the same time, the Sensex has increased by nearly 6,300 points, or 8.5%, from its close of 73,847 on April 9, to now. The rally has bestowed upon investors an added wealth of about 3.1 lakh crore rupees, as the BSE’s total market capitalization now stands at about 430.5 lakh crore rupees.

    Gains Come With a Note of Caution

    Even though the mood is still upbeat, some market experts are advising investors to be cautious. They say that rising crude oil prices and an ambiguous trend in corporate earnings could lead to the market consolidating over the short term.

    Vinod Nair, the Head of Research at Geojit Investments, remarked that easing US-China trade frictions and a surge in US technology stocks have greatly improved the sentiment in global markets. Yet, he also mentioned that we should not ignore the possibility of a near-term consolidation in the markets due to some mixed domestic earnings reports, the rise in crude oil prices, and the rally in the markets all by themselves.

  • Over 20% of Intel’s Workforce will be Let Go this Week

    According to a media report, tech giant Intel Corporation intends to announce layoffs at some point this week. The report further revealed that the job cuts would involve a personnel reduction of more than 20% in order to “eliminate bureaucracy”.

    Intel’s layoffs are intended to “streamline management and rebuild an engineering-driven culture”. The chip giant undergoes significant reorganisation under its new CEO, Lip-Bu Tan who took over company’s operations in March 2025.

    In an effort to turn around the faltering chipmaker, more than 20% of Intel’s workforce would be let go. After years of lagging behind Nvidia in artificial intelligence (AI) processors, Tan hopes to challenge competitors with this move.

    Dropping Sales Figures Resulting in Layoffs

    Intel has previously implemented layoffs in an effort to improve its financial status. Up to 15,000 workers were let go in August 2024, bringing the company’s total workforce to 108,900 at the end of the year. Intel employed 124,800 people in 2023, the year before.

    Due to Nvidia’s technological advancements, the Santa Clara-based traditional chipmaker has recorded three years in a row of dropping sales and red statistics. Tan has promised to develop more interesting products and spin off Intel assets that aren’t essential to its purpose.

    Tan said at the Intel Vision conference in March that Intel needed to repair its balance sheet, replace the engineering expertise it lost, and better align its manufacturing processes with the demands of prospective customers.

    Tan will have a crucial chance to further lay out his strategic perspective on 24 April when Intel releases its first-quarter earnings. Wall Street does not anticipate that Intel will return to its previous sales heights very soon, if at all, even though analysts say the company’s revenue drops are now at their most severe.

     Tan was hired after Pat Gelsinger, the previous CEO, left last year due to his inability to carry out his recovery strategy.

    Gelsinger had adopted a bold and costly plan to increase Intel’s production capacity and re-establish the company as a significant force in the custom chip industry.

    Layoffs have Become a Common Scenario in 2025

    With big companies like Google, Microsoft, and others continuing to reduce their workforces, layoffs in the tech sector are not expected to halt in 2025. Companies are still cutting employees in an effort to simplify operations, save money, and emphasise automation and artificial intelligence, even though these figures are much lower than the major layoffs that occurred between 2022 and 2023.

    Layoffs.fyi, a website that tracks layoffs in the industry, reports that 93 organisations have laid off nearly 23,500 tech workers so far this year, and the number is still growing. Google and Microsoft are apparently contemplating a new round of layoffs, according to the most recent job reduction reports.

     According to reports, AI-led restructuring and performance-based terminations are part of the corporations’ goals to increase the effectiveness of their personnel.

  • CAIT Demands Luxury Tax be Applied to Online Purchases

    According to reports, the Confederation of All India Traders (CAIT) has demanded that a “luxury tax” be applied to all transactions made through online marketplaces. The traders’ organisation suggested enforcing the levy under the goods and services tax (GST) regime, according to a media report.

    The remarks were made in New Delhi at CAIT’s national colloquium on the subject of “the cruel face of quick commerce and e-commerce”. In order to safeguard the interests of small firms, CAIT’s secretary general emeritus Praveen Khandelwal allegedly advocated for the establishment of new policy mandates to “immediately enforce” FDI laws for the e-commerce sector, especially rapid commerce.

    After careful consideration, the Indian government has nearly finished draughting the e-commerce policy, according to Khandelwal. CAIT believes that in order to protect the nation’s retail democracy, the time has come to enact the e-commerce policy and e-commerce regulations under the Consumer Protection Act.

    Traders Body to Submit Recommendations to Ministries

    The traders’ group declared that it will make suggestions to the ministries of consumer affairs and commerce. These recommendations will highlight the difficulties faced by retail dealers as a result of the fast commerce platforms’ explosive growth.

    CAIT members claimed at the conclave that wealthy rapid commerce platforms are expanding in major cities and using aggressive discounting strategies to corrupt the retail industry. They said that small mom-and-pop store owners are being forced to close as a result of this.

    Khandelwal went on to say that although rapid commerce is a brand-new industry, there is currently no regulatory framework in place. The body asks the government to establish a separate regulatory agency for digital commerce that will oversee both rapid commerce and e-commerce platforms.

     Additionally, CAIT recommended the government outlaw inventory-led online marketplace models. The Centre should also create regulations that guarantee online platforms can only offer products to final consumers through third-party vendors.

    In addition, the trade association stated that its affiliate groups, including the All India Mobile Retailers Association (AIMRA) and the All India Consumer Products Distributors’ Federation (AICPDF), will approach the human rights commission to guarantee the “well-being” of gig workers.

    In order to establish accountability and supervise e-commerce and quick-commerce platforms, CAIT has recommended the establishment of an independent regulatory authority.

    Quick Commerce Changing the Dynamics of Online Shopping

    The development occurs at a time when rapid commerce platforms have revolutionised online shopping in India by establishing new standards for convenience and speed.

    In fiscal year 2023-24 (FY24), the three fast commerce majors—Zomato-owned Blinkit, Swiggy Instamart, and Zepto—recorded a combined top line of $1 billion. While Amazon, Nykaa, and Myntra are also testing similar products, e-commerce powerhouse Flipkart also entered the rapid commerce space last year with Minutes.

  • Shiprocket Enters Gold & Diamond Jewellery Shipping, Partners with CriticaLog

    • Aims to solve shipping and e-commerce woes for gems and jewellery merchants
    • Pick up from 250 cities with 59 operational hubs across 40 cities and towns
    • Average shipment value is INR 90,000

    Shiprocket, India’s leading eCommerce enablement platform, has entered premium category shipping with its partnership with CriticaLog, a logistics firm that provides customised critical logistics solutions, including luxury goods shipment. This partnership signals Shiprocket’s entry into the very niche category of gold and diamond jewellery shipping.

    With extensive planning and execution, CriticaLog ensures zero pilferage, packaging, storage in strong rooms, and safe and secure transportation. CriticaLog’s expertise in handling time-sensitive and high-value shipments, combined with Shiprocket’s advanced logistics technology, will ensure a seamless shipping experience for jewellers. 

    This service is already live across 5000+ pincodes and covers all major metros, including Delhi, Mumbai, and Chennai. Multiple merchants selling diamond, gold and silver jewellery, gold and silver coins, as well as other high-value items, are already using this service.

    Easing Logistics for Small Jewellers 

    The country’s gold and diamond trade contributes to over 7 % of GDP, with over 3 lakh players. The explosion in the B2C space will increase this number exponentially through e-commerce. Small and medium enterprises (SMEs) in the gems and jewellery sector are at the forefront of this growth, but require assistance for logistics and e-commerce.

    Through this partnership, Shiprocket is set to make jewellery shipping easy for merchants while ensuring that each item is handled with care. Each package would be handled securely with CriticaLog’s expertise in handling high-value products. Shiprocket is offering pickup from 250 cities with 59 operational hubs across 40 cities and towns in Delhi, Mumbai, Chennai, Pune and Chandigarh. 

    Shiprocket has already completed multiple orders in the month of March’25 on Shopnek.com. The average value per shipment is INR 90,000, further reinforcing the ability to ship high-value products securely. The service is currently being offered for prepaid shipments up to INR 5 lakhs and with the cash on delivery option up to INR 49,999. 

    Commenting on the partnership, Saahil Goel, MD & CEO, Shiprocket, said, “At Shiprocket, we’re focused on building the rails that help every merchant of Bharat, whether in a small town or a metro, and help them grow faster through eCommerce. Our partnership with CriticaLog is a step in that direction, especially for jewellers who need precision and trust in logistics. It levels the playing field and lets smaller sellers compete with the biggest names out there in the market.”

    Shiprocket is a tech platform that empowers sellers with seamless high-speed delivery integration, advanced checkout solutions, and cutting-edge marketing tools. This partnership will enable merchants to ship their high-value orders through the same trusted Shiprocket network that is already relied upon by over 4 lakh merchants across the country.

    Shiprocket Success Story: Best Shipping Solution For MSMEs | Business Model | Revenue | Owners
    Shiprocket is a logistics startup founded by Saahil Goel and Gautam Kapoor. The company provides tech-enabled logistic solutions. Learn more about Shiprocket, its success story, its founders, history, business model, logo, revenue model, funding and investors, revenue, growth, competitors, and more.
    StartupTalkyLakshya Singh

  • ChatGPT May Eventually Allow Users to Shop Straight Within the Chat Window

    The San Francisco-based company OpenAI may soon turn its ChatGPT into a direct purchasing platform, enabling customers to make purchases straight from the chat window. This would be a huge advancement for the IT industry and AI-driven commerce platforms.

    In order to enable goods, pricing, reviews, and a “Buy Now” option to display naturally within the chat interface, Shopify is testing a direct integration with the well-known AI chatbot. If implemented, the capability would represent a significant advancement over ChatGPT’s current functionalities, going beyond its current function of recommending products and rerouting customers to other websites.

    Shopify Looking for Complete AI Transformation

    Currently, customers who use ChatGPT on Shopify to ask for purchasing guidance are given a thorough rundown of the products that are available. Also, they are offered connections to other websites where they may make purchases. But this procedure might soon be simplified.

     Without having to leave the discussion, the suggested integration would allow purchases to be made straight from the chatbot. The change might make ChatGPT a fully functional AI-powered shopping assistant, providing users with a more seamless and convenient experience.

    Online shoppers’ interactions with AI systems may change as a result of this advancement, even though no formal implementation date has been confirmed.

    An Advantage for Shopify Sellers

    The project may help Shopify retailers by providing them with direct access to ChatGPT’s large user base, according to a media report. In order to get clients, internet retailers now frequently rely significantly on search engine optimisation and paid advertising.

    These expenses might be decreased by integrating with ChatGPT, which would also give retailers a new way to increase sales and visibility. Microsoft’s Copilot and AI search engine Perplexity may be thinking about implementing comparable features, indicating a larger trend of AI platforms shifting towards integrated e-commerce solutions.

    AI Exploring the E-Commerce Sector

    One of the biggest users of artificial intelligence (AI) is e-commerce. This sector has applications ranging from improved customer service and tailored product recommendations to efficient workflows, intelligent logistics, and sales/demand forecasting.

    Businesses that use AI business tactics often see an increase in revenue of 10–12%. AI adoption is more crucial than ever for e-commerce firms if they want to meet consumer expectations as more and more consumers turn to online shopping (21% of retail purchases will be made online in 2025).

    AI uses data-filtering technologies, which employ algorithms to suggest the most pertinent products. These products are suggested to a specific client to extract insights from historical customer behaviour data, including searches, clicks, and transactions. It is most frequently observed on websites where merchants highlight regions that are “inspired by your shopping trends”.

     These areas recommend related add-on items for a customer’s cart or provide content that is relevant to the customer’s location.

  • After Sebi Investigation, BluSmart Selects Grant Thornton for Forensic Audit

    Following a regulatory investigation into co-founder Anmol Jaggi’s suspected financial fraud, electric taxi service BluSmart has hired Grant Thornton. According to a media agency report on 23 April, Grant Thornton will perform a forensic audit of BluSmart’s business operations.

    The action follows Jaggi’s exclusion from the securities market by the Securities and Exchange Board of India (Sebi) due to allegations that he had misappropriated money intended for the purchase of electric vehicles. According to a media outlet, Grant Thornton will be looking into BluSmart’s financial situation, paying particular attention to how money is moved and used.

    The report went on to say that the company’s cash balance looked worrisome and suggested fraud. The auditing firm’s nomination represents the company’s effort to rebuild trust and transparency in the face of growing scrutiny.

    How Sebi Detected the Fraud?

    When Sebi discovered that Jaggi had allegedly diverted money from his publicly traded company, Gensol Engineering, an EV procurement company that leased cars to BluSmart, for personal expenses, the crisis broke out.

    In addition to other indulgences like international travel, golf equipment, luxury goods and payments to family accounts, these included the acquisition of a lavish flat in Gurgaon’s DLF Camellias for INR 42 crore. The alleged fraud stems from a loan of INR 978 crore that was given for the purchase of 6,400 electric vehicles by the state-backed organisations Power Finance Corporation (PFC) and Indian Renewable Energy Development Agency (Ireda).

    Only 4,704 were purchased, according to the market regulator’s findings, leaving an INR 262 crore gap that is thought to have been stolen. In India, BluSmart, a new ride-hailing company that competes with Uber and Ola, ran more than 8,000 electric cabs and built a sizable charging network in Bengaluru, Delhi, and Mumbai. It claimed a 9% market share in the capital city in 2023.

    BluSmart a Sinking Ship

    Numerous senior officials at BluSmart resigned after the scandal at Gensol Engineering. Many users who still had money in their app wallets were left in a state of uncertainty when the company abruptly stopped providing taxi services. The business has made an effort to reassure clients that they will be operational once more.

    BluSmart has not yet released an official statement regarding the situation. Important backer BP Ventures, a division of the British energy behemoth BP, had also said nothing about the events. The scope of financial violations should be clarified by the forensic audit, which will also assist in deciding the best course of action for the struggling taxi app.

    However, Eversource, a private equity firm, has made an offer to purchase BluSmart for between INR 800 and 1,000 crore. Eversource Capital is a climate-focused investment platform. If the purchase goes through, BluSmart’s last known valuation of $300 million (about INR 2,561 crore) would be at least 60% lower.

     According to the media filings, Eversource intends to combine BluSmart with Lithium Urban Technologies, a company in its portfolio, and invest roughly $100 million in the resulting company.

  • Elon Musk Responds to X Becoming India’s Top News App

    Elon Musk, a tech tycoon, responded to a tweet asserting that X is currently the top news app in India’s App Store. Online responses to his one-word reply have been mixed. DogeDesigner was the first X user to share the post.

    The user submitted a video with the Indian flag and said, “BREAKING: X is now the #1 news app on the App Store in India.” Musk posted it again with a brief remark. All he wrote was “Cool”. That little answer was sufficient to elicit a variety of responses.

    Some users used the occasion to voice their disapproval, while others rejoiced in the platform’s success in India. “Mom said stop wasting time on X… now I tell her I’m watching the news,” one person commented.

    “X should be geo-blocked in India,” another person added. “Whoa! Elon Musk appears to be very composed as he simply responded, “Cool.” Someone said, “X’s ranking as the top news app in the Indian App Store is truly amazing.”

    xAI Acquires X

    Musk’s artificial intelligence establishment, xAI, revealed in March that it had paid $33 billion to purchase X. Two of Musk’s most important businesses, X and xAI, were combined in the all-stock transaction.

    Musk claims that the objective is to pool their teams, data, models, and processing power in order to assist in the training and enhancement of his AI chatbot, Grok. In a post on X, Musk revealed the terms of the deal, stating that the combination values X at $33 billion ($45 billion less $12 billion in debt) and xAI at $80 billion.

    The fates of xAI and X are interwoven. The brand formally took the step today to integrate talent, distribution, computation, models, and data. In 2022, the Tesla owner initially purchased X, which was then known as Twitter.

    The corporation went private with the $44 billion deal. He laid off a significant number of employees following the takeover, which caused a precipitous decline in ad income and the departure of several major sponsors.

    But as Musk’s power within the Trump administration increases, several companies have recently begun to make a comeback.

    Musk Rising High in Trump’s Era

    Musk is the head of the Trump administration’s Department of Government Efficiency, or DOGE. Additionally, this has placed him in a position to potentially influence the organisations that monitor his business activities.

    According to a media report, the seven banks that gave Musk $13 billion in loans to purchase X held onto the debt for two years before being able to sell it all at once in February.

  • On April 28, Ather Energy’s IPO Expected to Boost Markets

    Ather Energy, a manufacturer of electric vehicles, has established a price range of IR 304–321 per share for its April 28 IPO. The issue will close on April 30 after anchor bidding begins on April 25. According to its prospectus, the Tiger Global-backed company has scaled back its initial public offering.

    Instead of raising INR 3,100 crore as planned, it intends to raise INR 2,626 crore through the issuance of additional shares. Along with the new issuance, the IPO also included an Offer for Sale (OFS) of 1.1 crore equity shares, in which institutional investors and the promoter group will participate.

     Along with other corporate owners, promoters Tarun Sanjay and Swapnil Babanla would sell a portion of their holdings under the OFS.

    How Company Plans to Utilise Proceeds?

    According to a media report, Ather Energy has lowered its initial projection of INR 14,000 crore to aim for a post-money valuation of INR 12,800 crore. In addition to funding its new facility in the western state of Maharashtra, the business intends to use the earnings from the initial public offering (IPO) for marketing, debt repayment, R&D, and other corporate needs.

    Hero MotoCorp holds a 40% stake in Ather, making it the largest stakeholder. Apart from that, Tiger Global owns 6.56%, while the National Investment and Infrastructure Fund (NIIF) owns 14.22%. Mehta and Jain, co-founders of Ather, each own 6.81% of the company.

    Hero remained steadfast in its decision to not sell its stock in the IPO. Electric scooters, battery packs, charging infrastructure, and related software systems are all designed, developed, and assembled in-house by Ather Energy, an electric two-wheeler (E2W) company.

    Two product lines, the Ather 450 and the Ather Rizta, each with seven variations, make up its electric two-wheeler range.

    More Details of the IPO

    Investors must deposit a minimum of INR 13,984 to be eligible for at least one lot, which consists of 46 shares. The RHP further stated that 10% of the offer is for ordinary investors, 15% is for non-institutional investors (NIIs), and 75% is for qualified institutional buyers (QIBs) due to book-building concerns.

    Tiger Global will sell 400,000 equity shares as part of the offer for sale. The shares were purchased at an average price of INR 38.58 each, which represents an 8.3-fold return on investment. Comparably, National Investment and Infrastructure Fund II is expected to generate a 74% return on its investment through the OFS, while Caladium Investment is expected to generate a 57% return.

    The Ather Energy IPO’s book running lead managers are Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India), while the registrar is Link Intime India.

    While the firm will be listed on the BSE and NSE with a tentative listing date set for May 6, the allocation for the Ather Energy IPO is anticipated to be finalised on May 2. After Ola Electric’s 2024 IPO, Ather Energy will be the second pure-play Indian EV maker to go public.