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  • In December, UPI Transactions Reached a Record 16.73 Billion

    The volume of Unified Payments Interface (UPI) transactions increased by 8% month over month to reach 16.73 billion in December, the largest amount the digital system has seen since becoming live in April 2016. Additionally, the value rose from INR 21.55 trillion in November to INR 23.25 trillion, an 8% increase.

    In 2024, there were approximately 172 billion transactions, up 46% from 118 billion in 2023, according to data from the National Payments Corporation of India (NPCI). Compared to INR 183 trillion in 2023, transactions grew by 35% in value terms to over INR 247 trillion throughout the course of the year.

    Rise in Transactions in Various Segments

    A growth in person-to-merchant transactions (for purchasing products or services) caused the transactions to climb over the course of the year. UPI recorded 16.58 billion transactions in October, totalling INR 23.5 trillion, which was both its largest volume and value to date. The value was INR 20.64 trillion in September, with a volume of 15.04 billion.

    The daily transactions also went up from 516 million to 540 million in December compared to November. As a result, the daily value increased from INR 71,840 crore in November to INR 74,990 crore. Compared to December 2023, the December figures showed a 39% increase in volume and a 28% increase in value. Transactions through the Immediate Payment Service (IMPS) increased by 8% in December to 441 million, compared to 408 million in November and 467 million in October. Compared to INR 5.58 trillion in November and INR 6.29 trillion in October, this was an increase of 8% to INR 6.02 trillion in value terms. This represented a 6% increase in value over December 2023 and a 12% drop in volume compared to the previous year.

    December 2024 had 14.23 million daily transactions, up 5% from 13.6 million in November. This amounted to a daily transaction value of INR 19,405 crore, compared to INR 18,611 crore in November 2024.

    Growth in FASTag and AePS Transactions

    Compared to 359 million in November and 345 million in October, the amount of FASTag transactions increased by 6% to 382 million in December. In comparison to INR 6,070 crore in November and INR 6,115 crore in October, the value also rose by 9% to INR 6,642 crore. Compared to December 2023, this represented a 13% increase in value and a 10% increase in volume. December saw a 3% month-over-month growth in daily transactions, reaching 12.32 million.

     Transactions through the Aadhaar Enabled Payment System (AePS) increased by a small amount, from 92 million in November to 93 million in December. A slight increase in transaction value was also observed, reaching INR 24,020 crore from about INR 23,844 crore in November. The value was INR 32,493 crore, and the volume was 126 million in October. In November and December, there were 3.08 million and 3.02 million daily transactions, respectively. The volume and value of AePS transactions decreased by 1% and 5%, respectively, from the same period last year.

    Tata-Owned Air India to Expand International Routes
    Tata-led Air India is planning a major international expansion to increase its global presence, signaling a new era of growth for the airline.
    StartupTalkyNitin Konde

  • Tata-led Air India Plans to Expand Internationally

    Air India CEO Campbell Wilson announced on January 1 that the airline, which ordered 100 additional planes at the tail end of 2024, will undergo massive expansions and boost its worldwide coverage in 2025. In his New Year’s greetings, Wilson announced that the Air India Group fleet has grown to 300 aircraft thanks to mergers and new aircraft deliveries. He also promised that the airline’s global coverage will continue to expand in the years to come.

    In late 2024, the four Tata airlines merged into one, becoming Air India, and another, Air India Express, which offered low-cost flights. Wilson announced that the former Vistara planes are currently flying internal routes connecting major cities as well as important international trips to places like Frankfurt and Singapore. The fleet size of the Air India Group has increased to 300 aircraft as a result of these mergers and new aircraft deliveries. The new addition of 100 aircraft to Air India’s order book, enhancing the earlier promise for 470 announced in 2023, will no doubt contribute to Air India’s further expansion in global coverage in the years to come, as per Wilson.

    Further Expansion Plans

    From Delhi to London and New York, over a hundred brand-new planes are taking to the skies, including the first Airbus A350 in India. These are a portion of the one-third of Air India’s twin-aisle aircraft that will be upgraded in a similar fashion over the course of the next two years. The company’s single-aisle fleet, which flies to local and short-haul foreign destinations, is undergoing an interior renovation that will be finished by mid-2025, according to Wilson.

    Adding More Training Centres

    In addition to the recently opened training centre in Gurugram, which is 800,000 square feet, the largest in South Asia, Wilson mentioned a brand-new 12-bay maintenance facility and training school in Bengaluru and a new flight school in Amravati, both of which would support the new aircraft. Wilson went on to say that other major cities will quickly follow Bengaluru’s new premium class lounge in 2025, with another opening in Delhi the following year, and so on. According to him, every part of Air India‘s operations is being upgraded as part of the company’s transformation. This includes systems, processes, infrastructure, equipment, and people.

    Marking Three Years of Service, Air India-Tata Group

    According to Wilson, Air India will celebrate its third anniversary of returning to the Tata Group in January 2025, which is a major milestone in the company’s history. Meanwhile, Air India is in the midst of its Vihaan.AI transformation initiative, a five-year endeavour that will hopefully see the company become a top-tier international airline with a uniquely Indian flavour.

    Tata Sons Plans Infusion into Digital Arm by Mid-Next Year
    Tata Sons plans to infuse fresh capital into its digital arm by mid-2024, aiming to enhance its digital capabilities and expand market reach.
    StartupTalkyNitin Konde

  • In the Race for Electric Two-Wheelers, Bajaj Auto has Surpassed Ola Electric

    There has been a dramatic change in the competitive landscape of India’s two-wheeler electric vehicle (EV) market, with Bajaj Auto surpassing Ola Electric in December 2024 to become the dominant competitor. The government’s Vahan portal reports that Bajaj Auto’s market share in the two-wheeler electric vehicle segment increased by 3% in December 2024, hitting 25% from 22% in November. The market share of Ola Electric, on the other hand, dropped 5% from 24% to 19% in the past month.

    Sales for Ola Electric fell from 29,196 units in November to 13,769 units in December, resulting in a decrease in market share from 24.7% to 18.78%. Regardless, the company maintained its position as the leader in annual sales, capturing 35.5% of the market for the year thanks to robust sales in March and July. Total sales for the corporation fell from 119,654 units in November to 73,316 units in December, marking a decrease from the previous month.

    Other Players’s Performance in this Sector

    Ather Energy’s market share increased by 3% in December from 11% in November, following Bajaj’s 3% gain. The market share of Hero MotoCorp fell sharply by 5% in December, from 6% in November, while that of TVS Auto was steady at 23%. The two-wheeler electric scooter market is seeing greater competition as businesses like TVS and Bajaj introduce more inexpensive and sophisticated models, putting Bhavish Aggarwal’s Ola Electric to the test. To tackle the severe competition, Ola Electric has planned that by April of 2025, it will be launching its own electric scooter batteries.

    Every Player Floating New Ideas to Expand their Growth

    Bajaj Auto has unveiled a new platform that boasts cutting-edge tech features and a 45% reduction in costs, both of which are projected to boost the company’s profit margins. With the I-Qube electric scooter, TVS Auto has increased its reach from 250 to 4,000 retailers, thereby expanding its reach. Important EV markets in North India, including Gujarat and Maharashtra, have been driving growth for Ather Energy.

    Ola Reaches a Milestone of 4,000 Stores

    Ola Electric announced on 26 December that it now has 4,000 stores nationwide, a four-fold increase from the 800 stores that were previously disclosed on December 2 of this month. In less than a month, the firm reported adding 3,200 additional stores to its current network.

     The corporation stated that it was dedicated to promoting widespread EV adoption, which would allow for wider penetration into practically every town and tehsil in India, going beyond tier-1 and tier-2 cities. The business has now fulfilled its promise. Bhavish Aggarwal, chairman and managing director of Ola Electric, stated that this is a major turning point in India’s EV journey as the company extends its network to every city, town, and taluk.

    Aggarwal added that Ola has entirely redesigned the EV buying and ownership experience with its recently launched stores that are also service centres, setting new standards with its “SavingsWalaScooter” campaign.

    Ola Expands Tier-3 EV Network, Achieves 4,000 Stores Milestone
    Ola achieves a milestone of 4,000 EV stores, driven by the expansion of its network into Tier-3 towns, enhancing accessibility and adoption of electric vehicles across India.
    StartupTalkyNitin Konde

  • The Market Cap Deadline for UPI Apps has been Extended by NPCI by 2 Years

    The deadline for imposing a transaction volume cap on Unified Payments Interface (UPI) apps has been extended by two years, to December 31, 2026, by the National Payments Corporation of India (NPCI). The NPCI has extended this deadline for the second time.

    The industry giants PhonePe and Google Pay, who handle the majority of UPI transactions in the nation, are anticipated to receive much-needed relief from the most recent development. According to NPCI data, the two handled roughly 47.8% and 37.02% of UPI transaction volumes in November, respectively. The deadline for current third-party application providers (TPAPs) to comply was extended by an additional two years by the apex payments authority after “considering various factors.” This occurs during a period of explosive rise in transaction volumes for the real-time payments system.

    Rise in UPI Transactions

    As of November, UPI had recorded 155.44 billion transactions to date this year, up 32.2% from 117.58 billion transactions in CY23. In November 2020, the NPCI first suggested a 30% cap on the number of transactions that UPI apps may handle. The current players were given two years to comply with the volume cap. In order to address possible issues like the risk of concentration among leading businesses, the apex payments authority sought to implement market cap. UPI apps, meanwhile, have expressed concern that a quota may restrict both their and UPI’s growth.

    Players Welcomed the Move

    “I firmly think that this market cap problem will be resolved by the market itself within the next two years.” According to Vishwas Patel, head of the Payments Council of India (PCI) and joint managing director of Infibeam Avenues, preventing the expansion of incumbents is not the best course of action and would have undoubtedly hindered the growth of UPI.

    “Since we firmly believe that customers will select from among the dozens of new UPI apps available, we applaud the NPCI’s extension of the market cap deadline for UPI apps. Paytm is making a comeback to regain its market share,” stated Patel. While elaborating further, Patel added that a number of innovative apps, like Cred, WhatsApp Pay, Bharat Interface for Money (BHIM), and Navi, are expanding rapidly. In August 2024, the NPCI split off BHIM to become NPCI-BHIM Services Ltd. (NBSL).

    The NPCI also removed the UPI user onboarding cap for WhatsApp Pay, the messaging juggernaut WhatsApp’s UPI platform. All Indian users will now be able to access the messaging giant’s UPI services. “WhatsApp Pay may now offer UPI services to all of its users in India thanks to this development,” the apex payments authority said in a statement released on 1 January.

    “We’re dedicated to making WhatsApp payments easy, dependable, and safe. Through a variety of use cases, such as bill payment, ticket booking, and shopping, we hope to improve users’ lives and make them more convenient,” the release stated further. A WhatsApp representative stated, “We want to continue supporting India’s digital and financial inclusion strategy while also accelerating the use of digital payments and UPI.

    SEBI Grants Approval for IPOs of Schloss Bangalore, Ather Energy, and Others
    SEBI has approved IPOs for six companies, including Schloss Bangalore and Ather Energy, paving the way for public listings. Learn more about the developments.
    StartupTalkyNitin Konde

  • Easy Trip Planners’ 1.4% Shares is Sold by Promoter Nishant Pitti for INR 78 Crore

    Travel tech giant EaseMyTrip’s cofounder, former CEO, and promoter, Nishant Pitti, sold off 1.41% of the company, or 5 Cr shares, in a block deal on December 31. After the transaction, Pitti still owns 12.80% of the business. According to NSE statistics, Pitti sold 4,99,52,163 shares for INR 15.68 each, for a total transaction value of INR 78.3 Cr.

    According to the data, Arunaben Sanjaykumar Bhatiya paid INR 15.86 per share for 2.4 Cr of the company’s shares. Amid rumours that Pitti was selling his entire ownership in the company, shares of Easemytrip fell as much as 10% during intraday trading earlier in the day. Pitti was scheduled to sell his remaining 14.21% interest in EaseMyTrip in a block deal valued at INR 780 Cr, according to a media report.

    Second Time Pitti Offloading Shares of EaseMyTrip

    The fact that this is Pitti’s second share sale of this kind in recent months. The cofounder sold 24.65 Cr of the company’s shares for INR 920 Cr in several block deals in September of 2024. The company’s third bonus issue was approved by the board earlier this year in a 1:1 ratio. The board also authorised a preferential offer of equity shares this month, raising INR 234.03 Cr from seven investors. Despite all of this, the business keeps adding new products to its lineup. Through an equity share swap valued at INR 39.20 Cr, the travel major acquired a 49% stake in Planet Education Australia, an Australian supplier of study abroad consultant services, in November.

    Nishant Pitti Leaves his Position as CEO of EaseMyTrip

    The parent firm of online travel aggregator EaseMyTrip, Easy Trip Planners Ltd., said that Nishant Pitti has resigned with effect from January 1 for personal reasons. According to an exchange filing, Rikant Pitti, the company’s CFO and Nishant’s brother, has been cleared by the board of directors to take over as CEO with immediate effect. Nishant Pitti, Rikant Pitti, and Prashant Pitti launched EaseMyTrip, which is run by Easy Trip Planners, in 2008. In recent months, the firm has taken a number of noteworthy actions.

    Co-founder Rikant Pitti was instrumental in the development and prosperity of EaseMyTrip in 2008. Having worked in the travel and tourist sector for more than 16 years, Rikant has a thorough awareness of consumer demands and market trends, which puts him in a strong position to guide the business into its next stage.

    Expansion Plans of EaseMyTrip

    The company’s plan to enter the hospitality industry was supported by the acquisition of the Australian brand. The business said earlier this year that it had partnered with the Jeewani Group and had set aside up to INR 100 Cr to construct a five-star hotel in Ayodhya. As part of its drive into medical tourism, EaseMyTrip said in September that its board had approved plans to purchase a 49% investment in Pflege Home Healthcare Centre LLC for INR 30 Cr and a 30% stake in Rollins International for INR 60 Cr. In the meantime, the company’s consolidated profit after tax (PAT) for the second quarter of FY25 decreased 42.8% from INR 46.9 Cr to INR 26.8 Cr.

    EaseMyTrip Success Story of Making Travelling Easy and Convenient!
    EaseMyTrip is an online portal for travel booking. Know about EaseMyTrip company, owners, growth, revenue & business model, Competitors, & more.
    StartupTalkyAnik Banerjee

  • Curefoods Increases its Presence in India by Acquiring Krispy Kreme

    The well-known international doughnut and coffee brand Krispy Kreme’s businesses in South and West India have been formally acquired by Curefoods, a F&B house of brands, from Landmark Group. Prior to its expected fundraising round, Curefoods was reportedly in talks with Landmark Group in October to obtain the rights to market Krispy Kreme in India. Landmark Group previously oversaw Krispy Kreme’s operations in South India, which included about 50 points of access throughout the nation. Through the utilisation of Krispy Kreme’s existing clientele and operational framework, this acquisition will accelerate Curefoods’ expansion. As part of the deal, Landmark Hospitality Services Limited will also purchase stock in Curefoods India.

    Expanding Operations Beyond Cloud Kitchen

    It gives Curefoods great pleasure to introduce Krispy Kreme. The company’s objective of providing a variety of excellent culinary experiences is well aligned with its global reputation and great customer appeal. Ankit Nagori, founder of Curefoods, stated that this collaboration demonstrates the company’s dedication to diversifying into markets outside of its cloud kitchen ecosystem and investing in popular brands to increase its market share in India’s food industry.

    Curefoods was founded in 2020 and is already well-known for its wide range of products, which include EatFit, Sharief Bhai, Nomad Pizza, and Olio Pizza. “Together with Krispy Kreme Doughnut Corporation, we have developed a successful business that is expanding.” K A Madappa, President of Citymax Hotels Pvt Ltd and Business Head of Krispy Kreme, stated, “We are thrilled to see it join the Curefoods portfolio, where we are confident it will continue to grow significantly in the years to come.” Throughout the whole transaction, Metta Capital served as Landmark Group’s advisor. 

    Expansion Plans of Curefoods

    By 2025, Curefoods intends to open 25 physical Krispy Kreme locations and 100 more cloud kitchens. Currently, the company has more than 50 locations across Bengaluru, Hyderabad, and Chennai.

    Curefoods is looking to expand its domestic brands into foreign markets in addition to Krispy Kreme. Recently, Sharief Bhai made its debut in the Middle East. The firm intends to bring its pizza brand, Olio, to Abu Dhabi and Dubai.

    Additionally, Curefoods intends to increase its footprint in India’s tier 2 and tier 3 cities. The company’s plan, according to Nagori, is to keep expanding into tier 2 and tier 3 cities. Currently, all brands are present in about 40 cities, and by the end of 2025, the company hopes to be present in 60.

    Curefoods has set aside INR 60-70 crore a year for offline expansion over the next two to three years in order to meet its growth ambitions, which include a balanced mix of 1,000 offline and cloud kitchen locations for its portfolio by the end of 2025.

    Blinkit Expands Its Services to Jammu
    Blinkit expands its services to Jammu, bringing quick commerce and online delivery to the region, enhancing accessibility and convenience for local customers.
    StartupTalkyNitin Konde

  • Blinkit Expands Its Offerings to Jammu

    Blinkit is currently available in some areas of Jammu as part of Zomato’s plan to extend its rapid commerce business to Tier II cities. In a LinkedIn post, Blinkit’s CEO and cofounder Albinder Dhindsa stated that three of the company’s shopfronts are currently open in Jammu and have begun shipping to neighbouring towns. The stores serve around ten surrounding localities and are situated in Trikuta Nagar, Roop Nagar, and Akhnoor Road. Notably, Blinkit introduced its services in Bathinda, Haridwar, and Vijayawada after going live in Kochi just before Onam. It’s important to remember that Blinkit has been actively introducing new features to keep one step ahead of its rivals in the quest for rapid commerce.

    Blinkit’s Newly Launched Initiatives

    The Zomato-owned company launched a new app, Bistro, in pilot mode earlier this month, marking its entry into the quick food delivery market. Blinkit’s Bistro, which is currently open in some areas of Gurugram, provides 15-minute delivery for meals, snacks, and drinks, including tea and coffee. Last month, a media outlet exclusively revealed that Blinkit was testing a huge order fleet in the Delhi NCR area. This fleet may be used to place orders for more expensive items like a PlayStation 5 or an air purifier or geyser. To enable firms to post on the fast commerce platform and begin selling their goods without having to communicate with the platform or any middlemen, Blinkit introduced a “Blinkit Seller Hub” in October.

    Blinkit’s Financial Report

    Financially speaking, Blinkit’s second quarter revenue of INR 1,156 Cr in the fiscal year 2024–25 (FY25) is more than twice that of INR 505 Cr in the same period last year. Additionally, the company was able to reduce its adjusted EBITDA loss from INR 125 Cr in Q2 FY24 to INR 8 Cr in the reporting quarter. Due to India’s rapid growth in commerce, Blinkit plans to open 2,000 dark stores by the end of FY26. By the end of the second quarter of FY25, Blinkit had 791 dark outlets nationwide. 

    The fast commerce market in India is estimated to be worth $3.34 billion and is expected to expand at a compound annual growth rate (CAGR) of more than 4.5% to reach $9.95 billion by 2029. Despite this growth, statistics indicate that the industry only accounts for 7% of its projected $45 billion total addressable market, indicating significant room for expansion.

    Blinkit Introduces Option to Delete Order History
    Blinkit has launched a new feature allowing users to delete their order history, enhancing privacy and offering better control over personal data.
    StartupTalkyNitin Konde

  • Four People from Gujarat are Arrested by Bengaluru Police for Cheating CRED of INR 12.5 Crore

    Four individuals from Gujarat were recently apprehended by the Bengaluru city police for the theft of INR 12.5 crore from CRED, a credit card payments company. Among those detained was Vaibhav Pitadiya (33), a relationship manager at Gujarat’s Axis Bank and the suspected mastermind.

    During the inquiry, the police found two cell phones, counterfeit CIB forms, and INR 1.28 crore in cash. “The remaining sum that was defrauded is being recovered. On Corporate Internet Banking (CIB) forms, they falsified seals and signatures. The accused moved INR 12.50 crore to 17 mule accounts in Gujarat and Rajasthan using these falsified documents, the source claimed, gaining unauthorised access to the company’s online banking credentials.

    Modus Operandi

    Pitadiya found that CRED‘s nodal account handled more than INR 2 crore in transactions per day. He found ways to take advantage of the two linked company accounts that were dormant. A media report claims that Pitadiya came up with a plan and persuaded Neha Ben, an Instagram friend, to pose as the managing director (MD) of the business. In order to present Neha as the MD, he falsified board resolutions and letterhead documents.

    Neha asked for a new user ID connected to CRED’s account with updated email and phone information by submitting a fictitious CIB form and falsified papers to the Axis Bank branch in Ankleshwar, Bharuch, Gujarat. The group started the fraudulent transactions with these credentials. According to the authorities, two accomplices, Shubham and Shailesh, opened mule accounts and produced fake paperwork in order to transfer the stolen money.

    How the Issue got Highlighted?

    On November 13, when CRED was performing a bank account reconciliation, the fraud was discovered. It was found that 17 unauthorised transactions totalling INR 12.5 crore had been made to questionable accounts between October 29 and November 11. On November 15, CRED complained to the East CEN Crime Police Station in Bengaluru and brought the matter to the attention of Axis Bank.

    Neha had filed the documents in the Ankleshwar branch, which is where the police were able to trace the fraud. After Neha was taken into custody on December 21, the police found Pitadiya and the others through her interrogation. According to investigations, the suspects tried to activate a second CRED-related account by submitting a new CIB form to a separate Axis Bank office. An official declared, “The fraud was stopped after this attempt was intercepted.”

    They made fake CIB documents and board resolutions and gained access to private information. The fraudulent transactions were made possible by the submission of these documents to the Ankleshwar branch of Axis Bank. The officer further stated that the accused had been remanded to police custody for additional investigation after confessing to the crime during questioning.

    SEBI Grants Approval for IPOs of Schloss Bangalore, Ather Energy, and Others
    SEBI has approved IPOs for six companies, including Schloss Bangalore and Ather Energy, paving the way for public listings. Learn more about the developments.
    StartupTalkyNitin Konde

  • Sebi Approves IPOs for Schloss Bangalore, Ather Energy, and Four Other Companies

    Sebi has approved six companies’ plans to go public, including Oswal Pumps, EV player Ather Energy, and Schloss Bangalore. An update with the markets regulator revealed on December 30 that the six businesses submitted their draft initial public offerings (IPO) documents to Sebi between September 10 and 23 and received the regulator’s comments on December 23–27. Fabtech Technologies, Oswal Pumps, Ather Energy, Ivalue Infosolutions Ltd., and Schloss Bangalore Ltd. are the corporations in question. Getting observations is Sebi’s way of saying that it’s okay to raise public concerns.

    The proposed INR 5,000-crore IPO of Schloss Bangalore Ltd., the company that runs Leela Palaces Hotels & Resorts, consists of an offer for sale (OFS) of stocks valued at INR 2,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. and a new issue of equity shares worth INR 3,000 crore.

    Schloss Bangalore Plans to Utilise Proceeds

    Schloss Bangalore might be the biggest initial public offering (IPO) in the hotel industry in the nation. The proceeds of the new issuance, according to Schloss Bangalore, which has the support of Brookfield Asset Management, will be utilised for general corporate objectives as well as the repayment of loans taken out by the company and its subsidiaries.

    With a portfolio of 3,382 keys spread across 12 active properties, Schloss Bangalore is well-known for its opulent hotels and resorts under the “The Leela” brand. The Leela Palaces, Leela Hotels, and Leela Resorts are part of its portfolio as of May 31, 2024, and are spread across ten locations in the nation.

    Ather Energy’s IPO

    The proposed IPO by Ather Energy, maker of electric two-wheelers, consists of an Offer For Sale (OFS) of 2.2 crore equity shares by promoters and investors, as well as a new issue of equity shares valued at INR 3,100 crore. Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, 3State Ventures Pte Ltd, IITM Incubation Cell, and IITMS Rural Technology and Business Incubator are among the companies offering shares in the OFS for sale.

    The new issue’s proceeds would be utilised for marketing campaigns, loan repayment, research and development, capital expenditures to build electric two-wheeler manufacturing in Maharashtra, and other corporate needs. Following Ola Electric Mobility’s INR 6,145-crore IPO in August, this will be the second electric two-wheeler startup aiming to go public. 

    Oswal Pumps’ IPO

    An offer-for-sale (OFS) of up to 1.13 crore equity shares by promoter Vivek Gupta and a new issue of equity shares valued at INR 1,000 crore comprise the Haryana-based Oswal Pumps IPO.

    The proceeds from the new issue will be allocated to the following purposes: the financing of specific capital expenditures, the establishment of new manufacturing facilities in Karnal, Haryana, the payment of debt, the investment in a wholly-owned subsidiary, Oswal Solar, in the form of debt or equity, and the funding of general corporate purposes. Beginning with the production of low-speed monoblock pumps in 2003, Oswal Pumps has now grown to include the production of electric motors, grid-connected submersible pumps, and high-speed monoblock pumps.

    Fabtech Technologies’ IPO

    The proposed initial public offering (IPO) of Fabtech Technologies, a turnkey engineering solutions provider for the biotech, pharmaceutical, and healthcare industries, is a completely new issue of up to 1.20 crore equity shares.

    Eligible employees can also reserve a subscription as part of the offer. As a member of the Fabtech Group, Fabtech Technologies provides a wide range of clients with full start-to-finish solutions that include the design, engineering, procurement, installation, and testing of specific pharmaceutical equipment.

    iValue Infosolutions’ IPO

    According to the Draft Red Herring Prospectus (DRHP), the private equity company Creador-backed iValue Infosolutions’ proposed inaugural share sale is an Offer for Sale (OFS) of up to 1.87 crore equity shares by promoters and investor stockholders. Sundara (Mauritius) Ltd, a Creador affiliate, will sell 1.11 crore equity shares in accordance with the OFS. As an expert in enterprise technology solutions, iValue Infosolutions provides complete, custom-designed solutions for protecting and handling digital apps and data.

    Tata Power-DDL and Baaz Bikes to Set Up Battery Swapping Stations
    Tata Power-DDL collaborates with Baaz Bikes to install battery swapping stations, enhancing EV infrastructure and supporting sustainable transportation solutions.
    StartupTalkyNitin Konde

  • Blinkit Unveils Feature for Deleting Order History

    Blinkit, Zomato’s fast commerce subsidiary, has implemented a novel feature that enables users to eliminate order history from their accounts. Albinder Dhindsa, the CEO and originator of Blinkit, disclosed the advancements on LinkedIn, a networking platform. Dhindsa stated in a post that the feature was introduced last week and that over one million orders have been deleted since its implementation. Customers can now delete orders from their Blinkit order history. Since the brand implemented this feature last week, 104,924 orders have been eliminated. Dhindsa highlighted the feature with a tagline, “A new year, a new order history.”

    Keep in mind that if an order is deleted, it cannot be restored, and the customer’s account will no longer include the details. At the moment, each order must be deleted separately; there is no way to delete several orders at once. Orders that are more than a year old can also be deleted.

    Blinkit Showing its Dominance in Quick Commerce Sector

    The most recent offering comes weeks after Blinkit strengthened its top management by appointing Vipin Kapooria, a former executive from Flipkart and OYO, as its new chief financial officer (CFO). This year, the giant of rapid commerce has launched numerous new products. It launched a new app called Bistro earlier this year, marking its entry into the rapid food delivery market. Additionally, it introduced “Blinkit Seller Hub,” which enables vendors to list themselves on the site, and started testing huge order fleets. Additionally, it introduced fast delivery of passport-sized pictures and the return option for items like apparel and shoes.

    Expanding its Operations in Jammu

    In keeping with Zomato‘s plan to extend its rapid commerce company to Tier II cities, the development coincided with Blinkit‘s expansion to Jammu. Over the past several years, the rapid commerce market has seen a dramatic increase in popularity throughout the nation. In light of this, Blinkit generated INR 1,156 Cr in revenue during the second quarter (Q2) of the fiscal year 2024–25 (FY25), which is more than twice as much as the INR 505 Cr it generated during the same period last year. Additionally, it was able to reduce its adjusted EBITDA loss from INR 125 Cr in Q2 FY24 to INR 8 Cr in the reporting quarter.

    A lot of experts are worried about the rapid commerce model since they think the ten-minute delivery won’t be profitable. However, Blinkit’s most recent figures seem to have disproved this theory. Many people have already hurried to predict that Blinkit will soon be the group waggon puller. Zomato’s other diversifications may surprise as well, in addition to the near-duopoly that Swiggy and Zomato have been experiencing in the Indian market lately.

    CCI Dismisses Abuse of Dominance Allegation Against InstaAstro
    The Competition Commission of India (CCI) has dismissed an abuse of dominance allegation against InstaAstro, ruling in favor of the astrology platform.
    StartupTalkyNitin Konde