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  • Ethisure Corporate Services Raises USD 2.5 Million Seed Funding to Accelerate Growth of Arthos Corporate Services

    Ethisure Corporate Services Private Limited (“Ethisure”) — the holding company of Arthos Corporate Services Private Limited (“Arthos”) — has announced the successful completion of its USD 2.5 million seed funding round. The capital infusion will enable Arthos to strengthen its position as an emerging player in India’s wealth management and fixed income ecosystem.

    The funds will be strategically deployed to expand Arthos’ product suite, build a proprietary technology stack, and establish a stronger geographic footprint across key financial hubs in India. A part of the investment will also be directed towards acquiring regulatory licenses, empowering Arthos to offer a more comprehensive range of investment solutions and participate meaningfully in the domestic fixed income market.

    Commenting on the milestone, Vibhor Mittal, Co-founder of Arthos, said: “Arthos was started with a vision to simplify and promote trust and transparency in the investment process for retail and HNI investors. The funds raised will help us accelerate our journey towards building a values-driven wealth platform that combines innovation with integrity. This investment reinforces confidence in our mission to create wealth with values — for our clients, partners, and the ecosystem.”

    An investor in the round commented: “Arthos is addressing a critical gap in India’s wealth management space by combining deep domain expertise with a transparent and technology-led approach. We are excited to back a team that brings credibility, experience, and long-term vision to a rapidly evolving sector.”

    About Arthos Corporate Services Private Limited

    Founded by Vibhor Mittal, Moulik Patel, and Sarath Bhaskaran, Arthos Corporate Services is engaged in wealth advisory and debt syndication, providing end-to-end investment and fund-raising solutions for HNIs, family offices, and enterprises. The co-founders bring together over 50 years of collective experience in financial services, capital markets, and investment structuring.

    Arthos currently works with over 100 channel partners and over 1,000 HNI and Family Office investors, facilitating transaction volumes exceeding ₹4,000 crore across asset classes including Non-Convertible Debentures (NCDs), Pass-Through Certificates (PTCs), unlisted equity, and mutual funds since inception (April 2025).

    Built on the guiding principles of Trust, Transparency, and Prosperity, Arthos aims to become a leading platform in India’s wealth and fixed income landscape — blending traditional investment wisdom with cutting-edge technology to create meaningful financial outcomes.

    About Ethisure Corporate Services Private Limited

    Ethisure Corporate Services Private Limited is the holding company of Arthos Corporate Services and serves as the strategic entity driving innovation, and growth within the Arthos ecosystem. Through its subsidiaries, Ethisure shall focus on creating a trustworthy, transparent, and value-based financial services network that caters to diverse investor needs.

  • Amazon Crosses $20 Billion E-Commerce Exports from India, Targets $80 Billion by 2030

    Amazon, the massive online retailer, announced on 27 October that it had exceeded its goal of $20 billion in total exports from India over the past ten years and is now aiming for $80 billion in outflows by 2030. Since its introduction in 2015, Amazon has registered over 200,000 exporters who sell over 750 million domestic products under its Global Selling programme.

    Over the past year, the company’s overall seller base has increased by more than 33%. Amazon’s 2020 intention to facilitate $10 billion in e-commerce exports by 2025 was then changed to $20 billion in the same time frame.

    Amazon Enjoying Fruitful Ride in India

    The company claims that categories such as health and personal care (45%), beauty (45%), toys (44%), home (39%), clothing (37%), and furniture (36%) have the strongest 10-year (2015–2025) compound annual growth rate (CAGR). The momentum, according to Srinidhi Kalvapudi, head of Amazon Global Selling India, is a reflection of Indian companies’ aspirations and the expanding significance of e-com exports in international trade.

    Building on this success, Amazon is committed to making international selling easier through technological innovation, capacity building, and ecosystem partnerships as it strives to reach its $80 billion cumulative e-commerce export target by 2030. It is still dedicated to supporting India’s e-commerce export expansion in keeping with the government’s objective of achieving $200–$300 billion by 2030.

    US and EU Top Markets for Amazon

    The two largest international markets for Amazon under the programme are the US and the EU. Germany, Canada, the United Arab Emirates, France, Italy, Spain, and Saudi Arabia are a few additional markets, though.

    When asked how the company’s exports are affected by changes in international trade rules, such as the elimination of the “de minimis” system, Kalvapudi responded that it’s a long-term story of structural strengths and creating skills that can compound over time. Because it is a structural tale rather than a seasonal one, Amazon continues to concentrate on these controllable inputs. Building the appropriate capacities is also important, and we have already surpassed the targets. Prior to the ‘de minimis’ exemption, packages under $800 could enter the US duty-free and with no scrutiny.

    Quick Shots

    •Amazon surpasses its $20 billion e-commerce export target from
    India.

    •Sets a new goal to reach $80 billion in exports by 2030.

    •Achieved through the Amazon Global Selling program launched in
    2015.

    •Over 200,000 Indian exporters registered under the program.

    •Sellers offer 750+ million ‘Made in India’ products globally.

    •Seller base up 33% in the past year.

  • Vodafone Idea Gets Relief as Supreme Court Allows Centre to Reassess Additional AGR Dues

    Following the Supreme Court’s decision to permit the Central government to re-examine the matter of reevaluating the telecom operator’s adjusted gross revenue (AGR) obligations, Vodafone Idea’s stock price surged by more than 9% on Monday. Following the SC’s decision, Vodafone Idea’s stock increased 9.45% to INR 10.53 per share on the BSE. The Supreme Court noted that the question is within the Union government’s policy purview and that it does not perceive any obstacle to the Centre re-examining the issue and reaching a suitable conclusion.

    What SC said in Vodafone’s Case?

    The Supreme Court said that there was no reason to stop the Centre from re-examining the matter, which was a huge relief to the financially troubled telecom operator. The court on 27 October gave the government permission to reevaluate the demand for AGR dues and to resolve the telecom operator’s complaints without involving the courts.

    Solicitor General Tushar Mehta, speaking on behalf of the Union government, requested more time, and the hearing was postponed. B.R. Gavai, the Chief Justice of India, rescheduled the hearing for the fourth time and instructed Mehta to take a firm stance on the issue. Chief Justice B.R. Gavai and Justice K. Vinod Chandran made the observation that the government’s policy discretion would control any decision pertaining to relief for the telecom operator.

    What is AGR and Why Vodafone Challenged DoT’s Demand?

    The Supreme Court postponed hearing Vodafone Idea’s petition in the AGR dues matter until October 27 on October 13. The indebted telecom company has contested the Department of Telecommunications’ (DoT) demand, aiming to settle further AGR claims totalling INR 5,606 crore for the years up to FY2016–17.

    The revenue amount known as AGR is used to determine the spectrum charges and licensing fees that telecom businesses are required to pay to the government. At the request of the telecom company and Solicitor General Tushar Mehta, who was representing the Centre, the top court had previously postponed the hearing on the plea multiple times. The federal government had previously stated that it was working with the corporation to find a solution. According to Mehta, the government had a direct stake in Vodafone Idea’s existence because it owned over 50% of the company.

    Vodafone Idea has requested that the DoT, in accordance with the “Deduction Verification Guidelines” of February 3, 2020, thoroughly reevaluate and reconcile all AGR dues for the period up to FY 2016–17. The supreme court denied telecom companies’ requests to correct alleged flaws in the computation of AGR dues owed by them earlier this year, refusing to reconsider its 2021 judgement.

    The Supreme Court ordered telecom service providers to pay INR 93,520 crore in AGR-related debts within ten years in September 2020. 10% of the total dues, as determined by the DoT, must be paid by March 31, 2021, according to the directive. The rest amount must be paid in yearly instalments between April 1, 2021, and March 31, 2031.

    Quick Shots

    •The Supreme Court allowed the Centre to reassess Vodafone
    Idea’s additional AGR dues.

    •Vodafone Idea’s shares jumped 9.45% to ₹10.53 on the BSE
    following the verdict.

    •The Centre has sought more time to decide on the issue; hearing
    adjourned after Solicitor General Tushar Mehta’s request.

    •The Centre owns over 50% of Vodafone Idea, giving it a direct
    interest in the company’s financial survival.

  • Lenskart IPO Price Band Fixed at INR 382–INR 402 Per Share: Check Issue Size, Dates, and Details

    With its initial public offering (IPO) opening for subscriptions on October 31 and closing on November 4, eyewear retailer Lenskart is poised to make its eagerly anticipated market debut. In order to raise new funds and give early investors a sizable exit opportunity, the business has set the price range at INR 382–402 per equity share of face value INR 2. Supported by billionaire Radhakishan Damani, Lenskart’s initial public offering (IPO) is one of the year’s most anticipated in India’s rapidly expanding consumer technology sector.

    October 30th is the planned date for the anchor investor allocation. Bids must be made in multiples of the lot size, which has been fixed at 37 equity shares. With a fresh issuance of INR 2,150 crore and an offer for sale (OFS) of up to 12.75 crore shares by promoters and current investors, the overall issue size is projected to be around INR 7,278 crore, or roughly INR 5,128 crore at the top end of the price range.

    How Lenskart Plans to Utilise Proceeds?

    Promoters and early investors will sell 12.75 crore shares through an offer for sale (OFS), while the business intends to raise INR 2,150 crore through a new share issuance. The new issue’s proceeds will be utilised to improve brand and marketing campaigns, fortify technology infrastructure, and open more company-owned stores.

    Investor confidence in Lenskart’s development potential is demonstrated by the IPO, which comes after a pre-IPO investment of INR 90 crore from DMart founder Radhakishan Damani. Alpha Wave Ventures, Temasek, Kedaara Capital, and SoftBank are among the current investors in the eyewear company. After Tata Capital, HDB Financial Services, and LG Electronics, Lenskart’s IPO is expected to rank as the fourth-largest public offering of 2025 with this offering.

    Lenskart’s Dominance in India’s Eyeware Sector

    Peyush Bansal founded Lenskart in 2008 as an online platform for eyewear. Since then, it has grown into an omnichannel retailer with more than 2,500 locations in Southeast Asia, the Middle East, and India. It has been able to scale quickly while maintaining affordability and high margins thanks to its vertically integrated business model, which spans design, manufacture, and retail.

    With revenue of INR 6,625 crore, up 22% year over year, Lenskart declared a net profit of INR 297 crore in FY25, a significant turnaround from a loss of INR 10 crore in FY24. Stronger brand engagement, more cost-effectiveness, and benefits from its technology-led model were cited by the corporation as the reasons for its better success.

    Quick Shots

    •Lenskart’s IPO opens on October 31 and closes on
    November 4, 2025.

    •Anchor investor allocation is scheduled for October
    30.

    •Fixed at INR 382–INR 402 per equity share of face
    value INR 2.

    •Investors can bid in multiples of 37 equity shares.

  • Neulife Raises $1 Million Seed Funding to Power Growth in India’s Premium Protein Market

    Neulife, a protein-forward and R&D-focused performance nutrition brand, has raised $1 million in its maiden seed funding round, co-led by Subhkam Ventures and Singularity Ventures. The round also saw participation from Sunicon Ventures, Cosma Ventures, and select high-net-worth individuals (HNIs). Prior to this round, Neulife had remained fully bootstrapped.

    The funds raised will be channelled into key strategic areas, including product innovation, advanced research and clinical trials, expanding Neulife’s protein product portfolio, and driving its global growth and market expansion.

    Founded in 2014 by fitness industry veteran Samit Gupta, widely recognised as a pioneer of sports nutrition in India, Neulife has built a strong foundation in performance nutrition. Gupta is now steering Neulife’s mission to deliver scientifically validated, metabolically superior proteins following the brand’s D2C launch in 2022.

    Samit Gupta, Founder & CEO, Neulife, said, “As a carb-free ketogenic athlete myself for over a decade now, I have always struggled with my protein supplements – since they were fundamentally designed wrong, and contradict the way Protein actually occurs in nature – always with Fat source for optimal protein synthesis and energy efficiency. With Neulife, we’ve solved that problem, and are creating proteins that go beyond absorption – delivering true metabolic advantages and higher protein efficiency with our patented Ketofuel® MCT technology. In a market that has, for long, been underserved by generic, copycat supplements, we’re on a mission to plug the gap with metabolically superior Proteins that provide higher protein efficiency and absorption gram for gram against any other Protein, anywhere. The latest seed funding round serves as a key milestone in accelerating Neulife’s journey in the Premium Proteins space, validating our potential and mission, and fuelling our growth.”

    Rishabh Kathotia, Partner, Subhkam Ventures, commented, “We believe that Neulife is addressing critical gaps in India’s performance nutrition market with its differentiated, science-first approach. Samit and his team bring unmatched experience and R&D depth to this category, which really impressed us and prompted us to invest, helping them build a legacy in this booming industry.”

    Neulife’s proteins and nutritional products are powered by its patented Ketofuel® technology, enabling 30%+ higher efficiency and absorption compared to conventional whey and plant-based proteins. Beyond optimising gut health, Neulife’s formulations offer ketone-boosting and protein-sparing effects, resulting in enhanced muscle protein synthesis and greater protein efficiency.

    Yash Kela, Partner, Singularity Ventures, added, “Neulife’s patented technology and focus on protein efficiency position them uniquely to become a category leader in India and beyond. By blending science and innovation with their domain expertise and advanced research capabilities, Neulife is poised to become India’s most trusted performance nutrition brand; and we’re now happy to be a part of their growth story as their early backer-investor.”

    Neulife was among the first nutrition brands in India to establish an in-house R&D unit, operating it for six years and filing five patents (two granted and three pending). Before its product launch in 2022, this foundation in research helped the brand achieve strong scientific credibility.

    With this latest fundraise, Neulife aims to capture approximately 15% of the premium proteins market by 2028, while also planning to raise an additional $3 million by the end of 2026 to further accelerate its growth trajectory.

  • Marks & Spencer Drops TCS IT Deal; Tata Firm Refutes Cyberattack Speculation

    According to the Financial Times, British retailer Marks & Spencer (M&S) has terminated its agreement with Tata Consultancy Services (TCS) to run its IT service desk. However, both businesses maintain that the termination has nothing to do with a hack that occurred earlier this year. The decision ends a more than ten-year collaboration in which TCS oversaw a number of M&S’s technological operations. According to M&S, months before the hacking incident, in January 2025, a competitive procurement process was started, and the service desk contract was terminated in July.

    In a statement quoted by the Financial Times, the retailer stated that M&S valued its collaboration with the TCS team and that TCS offers a variety of IT and technology services to the company. As is customary, M&S conducted a comprehensive process, trained a new supplier, and tested the market to find the best product available. M&S’ larger TCS connection is unaffected by this change, the company stated.

    Speculations Still Signaling Towards Cyber Attack

    According to prior reports, the contract’s termination was related to the April 2025 cyberattack that forced M&S to stop accepting online purchases and left numerous locations with empty shelves. According to British media, the attack may have reduced operating profits by as much as £300 million. TCS, however, denied rumours that it had anything to do with the hack.

    Prior to the April cyber incident, the retailer had selected a different service provider through a standard competitive procurement procedure that had been started in January. The Indian IT company declared that the two issues were obviously unrelated. TCS clarified that the IT service desk contract was really a minor portion of its total relationship with M&S, calling reports that connected the two situations “misleading”.

    The business still offers the retailer a number of technological and digital transformation services. TCS assured UK legislators in a statement that there was no proof of compromise throughout its client networks, which included M&S, Jaguar Land Rover, and other significant UK-based clients. TCS claimed that its systems were safe and that it provides services to over 200 clients in the UK who work in vital sectors like nuclear energy, water, and finance.

    M&S’ Terms Attack as Sophisticated Impersonation

    M&S Chair Archie Norman testified before the House of Commons Business and Trade Committee, characterising the April attack on M&S as a “sophisticated impersonation” effort directed at a third-party vendor. Since then, the store has strengthened its incident response and cybersecurity procedures.

    One of India’s biggest exporters of technology services and a long-standing IT partner for numerous international retailers is TCS, a division of Tata Sons. Analysts believe the story underscores increased scrutiny on outsourced IT providers in the wake of high-profile cyber attacks in the banking and retail sectors, even though the company’s explanation seems to have allayed worries about its involvement in the M&S breach.

    In order to prevent operational interruptions from undermining trust in digital transformation partnerships, industry experts anticipate that both firms will increase due diligence and openness in their supplier networks as cybersecurity constraints increase.

    Quick Shots

    •M&S has ended its IT service desk contract with TCS,
    concluding a decade-long partnership.

    •M&S stated the move followed a competitive procurement
    process launched in January 2025.

    •Reports linked the contract exit to the April 2025 hack that
    disrupted M&S’s operations.

    •TCS refuted any involvement in the breach, calling such reports
    “misleading”.

  • VerSe Innovation Appoints Prakashan Manikoth as Group CFO to Drive Strategic Growth, IPO Readiness and Global Expansion

    VerSe Innovation, India’s leading AI-powered local language technology company and parent to Dailyhunt, Josh, NexVerse.ai, VerSe Collab, Magzter and ValueLeaf, has announced the appointment of Prakashan Manikoth as its Group Chief Financial Officer (Group CFO).

    Based in Bengaluru, Prakashan will lead VerSe Innovation’s global finance function, focusing on strategic financial planning, investor relations, mergers and acquisitions, capital allocation, and long-term business strategy. He will also play a key role in strengthening risk management, compliance and governance frameworks, while steering the company’s IPO preparedness with robust financial discipline and transparent reporting.

    With over 25 years of financial leadership experience, Prakashan brings a strong track record across some of India’s most respected organisations. He has spent nearly two decades at Wipro and the Tata Group (TCS and Tata Teleservices), serving as Head of Finance for TCS’s Emerging Market Business and TCS BaNCS, as well as Finance Head for Wipro’s Global Operations and Delivery divisions. Most recently, he was the CFO of LeadSquared, a high-growth SaaS unicorn, where he played a pivotal role in scaling global operations and driving sustained growth.

    A Chartered Accountant and alumnus of the Indian Institute of Management, Calcutta (IIM-C), Prakashan combines financial expertise with strategic acumen, qualities that have shaped his leadership across both high-growth and large-scale enterprises.

    “We are delighted to welcome Prakashan to VerSe Innovation’s leadership team. His deep domain expertise and proven experience across global technology enterprises make him the perfect partner to guide our financial strategy as we accelerate toward becoming India’s first global AI-led technology powerhouse. His leadership will be critical as we scale responsibly, deepen our governance standards, and gear up for our IPO journey,” Umang Bedi, Co-Founder, VerSe Innovation.

    “I am thrilled to join VerSe Innovation at such a transformative time in its journey. VerSe is redefining how Bharat engages with content, creators, and commerce—powered by cutting-edge AI and bold ambition. I look forward to partnering with the founders and leadership team to amplify impact, driving sustainable enterprise value creation for all stakeholders, and help shape the company’s global financial trajectory,” Prakashan Manikoth, Group CFO, VerSe Innovation.

    In FY25, VerSe Innovation recorded 88% revenue growth, reaching INR 2,071 crore, while reducing burn by 20%. The company is poised to achieve group-level profitability in the second half of the fiscal year, supported by its robust AI-first product portfolio that includes NexVerse.ai, Dailyhunt Premium, Josh and VerSe Collab.

    VerSe Innovation Reports Strong FY25 Growth, Targets Profitability in FY26
    VerSe Innovation, parent of Dailyhunt and Josh, saw FY25 operating revenue rise 88% to INR 1,930 crore. EBITDA burn fell 20%, margins improved, and the company targets profitability in H2 FY26 through AI tools, subscriptions, and strategic acquisitions.
    StartupTalky- Business News, Insights and StoriesApoorva Bajj

  • India’s Gender Pay Gap Narrows Sharply, Now Among the World’s Smallest: Deel’s 2025 Compensation Report

    Deel, the global HR and payroll platform, has released its State of Global Compensation Report 2025 in collaboration with Carta, an equity management company.

    Based on Deel’s vast dataset covering over one million contracts and more than 35,000 customers across 150+ countries — the report offers deep insights into global pay trends. It aims to help organisations and professionals benchmark compensation more accurately and make transparent, equitable, and data-driven pay decisions.

    Key Global and India Insights

    • Compensation leaders remain unchanged: The US ($95K–$150K), UK ($82K–$117K), and Canada ($73K–$121K) continue to offer the highest median salaries across job categories.
    • AI job specialisation accelerates: Roles in AI, cybersecurity, and digital marketing command 20-25% higher pay due to talent scarcity and undefined benchmarks.
    • Equity grants on the rise: Equity-based compensation continues to grow globally, particularly in emerging markets such as Brazil and India. The US leads in equity package size, followed by Canada and France.
    • Shift in contractor hiring: Argentina, Mexico, and Brazil now rely heavily on contractor talent (80-90%), while the US and Germany remain FTE-centric. India maintains a hybrid workforce, with 60-70% full-time employees and 30–40% contractors, reflecting continued flexibility in hiring models.
    • Gender pay gap narrows in India: While disparities persist globally. especially in tech and leadership roles, India stands out for one of the world’s smallest gender pay gaps. Median salaries for both men and women now range between $13K and $23K, depending on role and function.
    • Median pay drops in India’s tech sector: Engineering and data professionals in India saw a median salary decline from $36K in 2024 to $22K in 2025, a 40% fall. Meanwhile, the US recorded a rise from $122K to $150K in the same period.

    “It’s encouraging to see India emerge as one of the few countries where the gender pay gap has narrowed significantly. Median salaries for men and women now stand nearly equal, both ranging between $13K and $23K, marking one of the smallest gender pay gaps globally,” says Mark Samlal, General Manager, APAC at Deel. “This progress reflects a broader shift toward fairness, transparency, and data-driven compensation models that reward merit over bias.”

    About the Report

    The State of Global Compensation Report 2025 analyses data from Deel’s extensive payroll and hiring platform. Countries and job groups included were selected based on hiring activity and expanded data coverage. Deel refined its methodology in 2024-2025 to ensure deeper, more comprehensive insights, increasing sample sizes and including previously unreported regions and sectors.Each country in this analysis meets a minimum threshold of 50 contracts to maintain statistical accuracy and reliability. The report aims to serve as a practical resource for organisations tracking pay trends and planning international talent strategies.

  • Noel Tata and Venu Srinivasan Reportedly Oppose Mehli Mistry’s Reappointment as Tata Trusts Trustee

    The reappointment of trustee Mehli Mistry, whose term expires on October 28, is unlikely to be approved by Tata Trusts chairman Noel Tata, vice chairman Venu Srinivasan, and Vijay Singh, several persons close to the issue informed ET. On 27 October, the trustees may communicate their choice.

    This week is Mistry’s renewal vote. Mistry has served as a trustee of the Sir Dorabji Tata Trust (SDTT) and the Sir Ratan Tata Trust (SRTT) since 2022. Together, the two trusts own 51% of Tata Sons, the holding company of the Tata Group. Siddharth Sharma, the CEO of Tata Trusts, moved a resolution on Friday to extend his tenure. According to sources, Jehangir HC Jehangir, Pramit Jhaveri, and trustee Darius Khambata have all agreed.

    According to insiders, the dispute over his reappointment may lead to legal challenges. Mistry was perceived as hostile against chairman Noel Tata and the other nominated directors on the Tata Sons board, including Singh and Srinivasan.

    Tata Trust Has Become a New Battle Ground

    At Tata Trusts, trustee appointments, like other choices, are typically made by consensus. About a year after the passing of long-time patriarch Ratan Tata, on September 11, the trustees defied tradition by voting by majority to remove former defence secretary Vijay Singh as a nominated director on the Tata Sons board. That started a series of events that brought the infighting at India’s most prominent public trusts to the attention of the entire country.

    It’s unclear if a majority vote can be used to reappoint a trustee in the event of disagreements or if a unanimous decision is needed. According to insiders, this is new ground for the trusts because, in the decades prior to Ratan Tata’s leadership of the organisation, trust decisions were not put to a vote.

    Trust affairs are decided by a combination of the Maharashtra Public Trusts Act regulations, the trust deed (or the will by which the trust was established, as in the case of Sir Ratan Tata Trust, founded in 1916), and resolutions passed by trustees from time to time. This is in contrast to companies, whose governance is standardised under the Companies Act and other applicable laws. According to the Sir Dorabji Tata Trust’s 1932 trust deed, “the decision of a majority of the trustees present at a meeting shall bind the minority,” and a quorum necessitates three trustees.

    Recent Resolution by Tata Trust Trustees

    Additionally, there is a more recent resolution that is pertinent. The “moment of transition between two eras” was marked by the trustees’ meeting on October 17, nine days following Ratan Tata’s passing. They committed to the founding fathers’ vision and ethos and agreed to act in concert and in support of the trusts’ goals and objectives.

    According to the resolution, a copy of which ET has examined, they determined that all trustees will be reappointed by the relevant trust at the expiration of their term, with no time limit placed on the term of such reappointment. This implies that all trustees will have their terms extended for life. However, the resolution does not include enough details about the process by which this will be accomplished.

    According to ET, Mistry, a close friend of the late Ratan Tata, conditionally approved Srinivasan’s reappointment as vice chairman and trustee of SDTT last week. Late on October 21, he sent an email requesting reciprocity in the extension of his own tenure. His email appeared to recognise that a unanimous trustee decision is necessary for reappointment for life.

    For the avoidance of doubt, Mehli’s response asserted that I do not formally approve the reappointment of Venu Srinivasan in the event that any trustee chooses not to pass this resolution or an identical unanimous resolution for all other trustees as and when their respective tenures expire.

    Quick Shots

    •Mehli Mistry’s tenure ends on October 28, 2025; a decision on
    renewal is expected on October 27.

    •Mistry has served as trustee of Sir Dorabji Tata Trust (SDTT)
    and Sir Ratan Tata Trust (SRTT) since 2022.

    •Differences over the reappointment process may trigger legal
    challenges within the trusts.

    •Disagreement persists over whether majority or unanimous
    consent is needed to reappoint trustees for life.

  • Ola Electric Secures Board Approval to Raise INR 1,500 Crore via Securities

    In an exchange statement on 25 October, Ola Electric Mobility stated that the board had authorised funding up to INR 1,500 crore through the issuance of securities. A plan to raise money through the issuance of shares or convertible securities, including warrants, through rights issues, qualified institutional placements, private placements, or any other method allowed by applicable laws has been reviewed and approved by the board, according to the Bengaluru-based electric vehicle manufacturer. No more than INR 1,500 crore will be raised in total. The EV manufacturer did not reveal why the money was being raised.

    Ola’s Fund Raising History

    The board of Ola Electric authorised the issuing of Non-Convertible Debentures (NCDs) or any other suitable debt securities on May 22 of this year in order to raise 1,700 crore. Additionally, the business stated that it will raise money through working capital facilities and term loans.

    The company had stated in a filing that the Board of Directors of Ola Electric Mobility Limited (“the company”), at its meeting on May 22, 2025, has, among other things, considered and approved the proposal of fundraising by borrowing funds within the borrowing limits approved by the shareholders of the company. This fundraising will be conducted through the issuance of Non-Convertible Debentures (NCDs) or any other eligible debt securities in one or more tranches, on a private placement basis, or through such other methods as may be permitted under applicable laws.

    Ola Electric to Expand Through Fund Raising

    Ola Electric was founded in 2017 and raised more equity when it went public in August 2024. Market share erosion and regulatory enquiries, such as discrepancies between reported sales and car registrations, have been challenges for the company since listing.

    Due to increased competition from car giants like Bajaj Aito and TVS Motor Company, the company’s market share has also decreased. As the electric scooter manufacturer struggled with a steep decline in sales, Ola Electric reported a larger net loss for the April–June quarter (Q1) of 2025–26 (FY26). The company’s consolidated loss for the same time last year was INR 428 crore, up 23% from INR 347 crore.

    Quick Shots

    •Ola
    Electric’s board has approved raising INR 1,500 crore through shares or
    convertible securities.

    •Total
    amount to be raised capped at INR 1,500 crore.

    •In
    May 2025, Ola Electric raised INR 1,700 crore via Non-Convertible Debentures
    (NCDs) or other debt securities.

    •Additional
    funds were raised through working capital facilities and term loans.

    •Founded
    in 2017, went public in August 2024.

    •Faces
    market share erosion and regulatory scrutiny over sales vs. registration
    discrepancies.

    •Q1
    FY26 net loss: INR 428 crore (up 23% from INR 347 crore last year).

    •Competition from Bajaj Aito and TVS
    Motor Company impacting sales and market share.