StartupTalky

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  • Kaynes Purchases Land in Gujarat to Construct a Semiconductor Unit

    Kaynes Technology, an Electronics manufacturing services provider, has bought some property in Sanand, Gujarat, to establish an OSAT (outsourced semiconductor assembly and test) unit.

    In order to fund its chip project, the corporation intends to spend around INR 5,000 crore. This is a major milestone since Kaynes, via its subsidiary Kaynes Semicon, is expanding into semiconductor assembly. Earlier, Kaynes had mentioned ambitions to construct a chip plant in Telangana, with a capital expenditure of over INR 3,000 crore.

    Why in Gujarat?

    Interestingly, Kaynes had previously applied for the chip project in Gujarat through the government’s INR 76,000-crore semiconductor incentive plan and it is now just waiting for approval. According to officials, Kaynes would be wise to establish their advanced facility in Gujarat due to the state’s robust ecosystem and the presence of other large-scale chip projects in Sanand and Dholera.

    Similarly, this has been done in response to demand from prospective clients, pointed out officials of Kaynes.

    On the other hand Kaynes will keep its Telangana plant running with a few of chip assembly lines, while the advanced chip assembly and test project would be run out of Gujarat. Among other things, Kaynes will use the Telangana facility for EMS services, which include making printed circuit boards (PCBs).

    On the Revenue Front

    According to Ramesh Kanan, founder and managing director of Kaynes Technology, the firm has recently purchased property in Gujarat and plans to begin construction there. Concurrently, the company is forming a team to handle onboarding for its OSAT business and has initiated the collaboration. The OSAT business is anticipated to have a positive response in FY26.

    A few more clients have come on board in the advanced packaging space, and the company has been actively recruiting new team members, added Kanan. Kaynes SemiCon CEO Raghu Panicker informed media that the company aims to have thirteen chip assembly and test lines in the next one and a half to two years, producing one billion chips per year.

    With the 46-acre Telangana factory set to go live by the end of August, Kaynes plans to target the industrial and electric vehicle (EV) markets through a few OSAT lines.

    Future Expectations

    In the beginning, the business will focus on electric vehicle (EV) domain power module packaging and microcontroller units.

    In the future, the business intends to produce legacy semiconductor packages such as tiny outline transistors (SOTs) and quad flat no-leads (QFNs), which are well-suited for use in consumer electronics, vehicle designs, and power applications. Ball Grid Array (BGA) semiconductor packages, which use solder ball pins to install integrated circuits like microprocessors, are another place it will end up.

    Revenue for the April–June quarter at Kaynes increased 70% year over year to INR 504 crore, driven by robust growth in the industrials and automotive sectors. Net profit for the year increased 106% to INR 50.8 crore for the business.

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  • The Implementation of a 30% UPI Cap Is Highly Doubtful

    With just over four months to go until the deadline, industry insiders have expressed doubts about the proposed 30% market share cap in the Unified Payments Interface (UPI) category, according to multiple media sources. Multiple newcomers to UPI have been informed, informally, that the limit is not going to be implemented. As a result, they have begun to reassess their growth and investment strategies, according to those briefed on the situation.

    According to earlier media reports, new players in the UPI industry are holding off on making large expenditures until they have a better understanding of the market share rule. UPI payments are dominated by PhonePe and Google Pay.

    However, the National Payments Corporation of India (NPCI), which oversees the UPI railway, has not received any official word from the government regarding its stance.

    Customers’ Choice

    Reportedly, the regulator is of the opinion that new entrants have not been able to reduce the dominance of the top two UPI services, therefore it is left with few choices regarding the implementation of the December 31st deadline.

    In response to enquiries, neither NPCI nor the ministry of electronics and IT provided any information. Implementing this law (market cap) will require significant planning, according to several experts. It cannot be done in a day due to the disruptive nature of the process.

    The Growth Trajectory

    Both the government and NPCI are deeply committed to the expansion of UPI, which reached 14 billion monthly transactions in May. If people keep using the same two or three platforms, what options do we have? So many new entrants are able to set up shop, but they haven’t made a dent just yet.

    In July, out of the 14.4 billion UPI transactions, more than 85% were processed through Walmart’s PhonePe and Google Pay. Google Wallet had 5.3 billion transactions, whereas PhonePe had 6.9 billion. With 1.1 billion UPI transactions, Paytm (One 97 Communications) came in third, and Cred (142 million payments) came in fourth.

    The Reserve Bank of India (RBI) placed restrictions on Paytm Payments Bank in February, making arguments about the market share ceiling more prominent. Paytm is the third largest UPI operator. On February 5, a prominent media outlet said that Paytm’s problems will cause users and businesses to switch to the two most popular applications.

    Why the Cap Cannot Be Implemented?

    To prevent the UPI ecosystem from becoming overly dependent on only one or two platforms, NPCI first proposed a market share cap. In December 2022, NPCI delayed implementation for two years following multiple rounds of negotiations and requests from key corporations operating such apps.

    Some industry executives and specialists in the field have voiced concerns that imposing a market share cap might cause systemic disruption and be technically challenging to achieve.

    Conversely, NPCI has been facilitating the development of UPI solutions by numerous consumer internet platforms with huge user bases, enabling them to become third-party application providers.

    Flipkart, the e-commerce platform that was once PhonePe’s parent company, Groww, Slice, and the Tata Neu superapp are all part of this group. Another company that has introduced its UPI offering through the plug-in channel is Swiggy, a food and grocery delivery firm that has partnered with banks. Similarly, Ola Consumer is in the process of planning a same system.

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    StartupTalkyPiyush Mishra

  • NCLT Gives Clearance to Merger Between Slice and North East Small Finance Bank

    Slice, a unicorn in the financial technology industry, has been granted permission by the National Company Law Tribunal (NCLT) to merge with North East Small Finance Bank (NESFB).

    Both businesses made the announcement that they would be merging in October of 2023. In March of the previous year, Slice paid around $3.42 million to purchase a five percent ownership in a bank with its headquarters in Guwahati.

    How Merger Will Help Both the Entities?

    In a news release, Slice noted that the merger will make it possible for the merged business to make use of cutting-edge technology and profound community awareness, which will ultimately lead to increased financial inclusion across the country.

    Customers may anticipate an increased selection of products, improved omnichannel offers, and a banking experience that is more streamlined.

    The scheme of arrangement and amalgamation that involves Garagepreneurs Internet Private Limited, Quadrillion Finance Private Limited, Intergalactory Foundry Private Limited, RGVN (North East) Microfinance Limited, and North East Small Finance Bank Limited has been approved by the National Company Law Tribunal (NCLT).

    The Competition Commission of India (CCI) and the Registrar of Companies (RoC) have both given their thumbs up to Slice and NESFB respective applications.

    In addition, the Reserve Bank of India (RBI) and the Income Tax Department also issued certificates stating that they did not have any objections to the transaction.

    Slice’s Financial Report Card

    Shortly after the conclusion of Slice’s debt round of thirty million dollars, this new development has taken place. The most recent valuation of Slice was above $1.5 billion, which occurred at the Series C round in November 2021. To date, Slice has raised a total of $340 million.

    According to the data intelligence platform TheKredible, Rajan Bajaj, who held the position of CEO and co-founder of the company, owned 8.21% of the ownership.

    While Slice’s losses increased by 59.8% to a total of INR 406 crore, the company’s revenue increased by a factor of three, reaching INR 843 crore in the fiscal year 2023.

    The Bengaluru-based company was able to scale during the fiscal year 23, despite the disruption it experienced as a result of the Reserve Bank of India’s change in rules for card issuers. It has not yet submitted its annual financial reports for the fiscal year 2024.

    About Slice Card

    Slice is a digital lending platform that, in partnership with non-bank financial companies (NBFCs), provides a credit card. The Slice card is intended for individuals who are new to the concept of credit, as well as students and young professionals who have their finances limited.

    There is no requirement for a credit score, and the eligibility requirements are more lenient. There is also no annual charge or membership cost associated with the card.

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  • Eleventh Episode of Crafting Bharat Podcast Series Featuring Krishnan Vishwanathan, Founder & Executive Director of RING and Kissht, Delves Deep into the Indian Startup Ecosystem

    Krishnan Vishwanathan, Founder & ED of Kissht discusses his entrepreneurial journey, building s solution-oriented business and trends in the FinTech Industry with host Gautam Srinivasan.

    Entrepreneurship is in the air! India has witnessed a surge in the number of startups over the last decade with an increasing tech-savvy population. The pandemic changed the way people consume services with the growth of digitization making everything accessible. 

    The “Crafting Bharat – A Startup Podcast Series” powered by AWS, and an initiative by NewsReach, in association with VCCircle, unlocks the secrets behind these successful entrepreneurs’ journeys aiming to equip aspiring entrepreneurs and business enthusiasts with invaluable insights. The podcast series is hosted by Gautam Srinivasan, famed for hosting a diverse range of TV and digital programs, currently consulting editor at CNBC (India), CNN-News18, Forbes India, and The Economic Times.

    India’s rapid adoption to digitization is opening new avenues for budding entrepreneurs, and intrigued and determined entrepreneur Krishnan Vishwanathan, Founder & ED of Kissht, is on a mission to make the borrowing experience of individuals seamless. In the Crafting Bharat Podcast Series, Vishwanathan talks about his entrepreneurial journey, building s solution-oriented business, and trends in the FinTech Industry.

    Explore the tales of Indian startup founders’ transformation from dreams to reality, navigating challenges to seize opportunities through the Crafting Bharat Podcast Series.

    Crafting Bharat, Episode 11 With Krishnan Vishwanathan, Founder & ED of Kissht

    Segment 1: The Incubator

    While you try to solve for A particular customer, you seem to have ended up solving for customers of many other segments. What does this blurring of lines indicate for how you approach your business now?

    If I’m a new start-up today, starting with access to credit on a differentiator will fall by the wayside within six months, and therefore the answer must be something beyond that. For us the answer has been evolving from a product innovation standpoint, lending is one of the most commodity and a centuries-old product. Large institutions today would not even afford basic flexibility for a person to choose his own loan amount, repayment schedule, repayment flexibility if he wants weekly or monthly. I mean these are basic things we started on day one. The segment we started with I’m not talking about the affluent segment I am talking about the segment we started with a lot of people who are irregular salaried and small business owners. 

    How do you survive and manage to stand out from the pack?

    When you put risk and your customers first, I think the solutions start appearing in front of you. The drawback for some of these things are we’ve probably grown slower than some of our peers. I know a couple of organizations started after us technically on paper valuation they’re ahead of us. It doesn’t bother us because we know we are here for the long term. We are here to create an institution like Infosys and TCS. Something that will outlive us and I think that approach is unit economics-based fundamentals not chasing undue growth and keeping customers first. 

    How do you view GenAI helping you with this big opportunity? What are the next-level use cases that you see GenAI delivering for Ring? 

    GenAI is a very wide canvas, and I am not an expert, but I’ll tell you where we are focusing on with GenAI today in the company. We are today focusing on two things; one is mass customization and improving interaction with the customer. Ring is a culmination of saying how do I blend payments and lending into one platform which is very seamless to the customer. The idea being that we want to be a one stop solution to the customer. 

    Segment 2: The Accelerator

    Take us through the highlights of your funding journey.

    There are two big highlights. First, all our early-stage investors continued to remain with us and in fact they have invested in the last round as well, which is a testament to the fact that they believe in us, our business model and our team. Second big highlight is that we have always chosen investors not for the capital but something more they bring, whether it is market connect or international peer exposure that they give us. That has really helped us remain and largely we have chosen investors who share the same long-term vision as us.

    If existing lending products are viewed as digitized versions of their earlier analog experiences, What’s the second layer of innovation of a truly digital lending experience going to look like? 

    I am belaboring the point, but it must be menu-driven mass customization. It must be something that fits. Customization has happened in other industries and generally, people feel that it might not work in financial services, but it must be the way forward. I think the needs of specific customers are very different.

    The startup ecosystem is continuously evolving with newer sectors growing with increasing internet penetration and digitization. The country’s steady growth and commitment to science and technology, is emphasizing technology-driven innovation in shaping India’s future. 

    Stay tuned to the Crafting Bharat Podcast Series as they bring you these inspirational entrepreneurs for insightful and candid discussions with Gautam Srinivasan.

    How RBI changed the demographics of P2P Lending?
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  • Micro-VCs Find Stable Foundation as the Venture Landscape Reshapes

    Former head of enterprise software and AI investments at Venture Highway (now part of US-based General Catalyst) Aviral Bhatnagar has established an INR 100 crore fund to support early-stage Indian companies. He told a media outlet that the newly formed venture capital (VC) business AJVC’s fund would be sector neutral and just invest in pre-seed stage companies.

    This news arrives as India is seeing the launch of a slew of new micro venture capital (VC) firms and domestic funds. Although they write smaller checks than more established VC companies, these investors support entrepreneurs from the very beginning. Micro VC funds, which are often smaller and concentrate on one partner, have emerged, increasing the diversity of risk capital investing in Indian entrepreneurs.

    Additional well-established micro VCs include Better Capital, run by Vaibhav Domkundwar; Java Capital, which focuses on deep tech; Sauce VC, based in Delhi, which invests in the consumer sector; and Neon Fund, which focuses on business software and has a $25 million target.

    Establishment of AJVC

    The inspiration for AJVC came from Bhatnagar’s 2018 platform, A Junior VC, which he established to shed light on the startup and VC scene in India.

    All of the firm’s efforts are directed at pre-seed investments. As a tech-driven, fast-moving, and approachable organisation, he predicted that an opportunity will arise to establish an institution that invests in pre-seed stages.

    He stated that younger investment firms are finding more opportunity to take riskier bets as larger venture capital firms become more cautious when investing in startups.

    A number of more established venture capital firms have begun to consider investments more in the vein of private equity, which opens the door for upstarts to take more calculated risks… “I strongly believe that innovation is here to stay,” Bhatnagar stated.

    Future Business Operations

    Funding for AJVC has come from family offices, wealthy individuals, and prominent Indian startup founders, according to Bhatnagar. Though he plans to start assembling a team in the future, Bhatnagar, who attended both the Indian Institute of Technology (IIT) in Bombay and the Indian Institute of Management (IIM) in Ahmedabad, has stated that for the time being he will operate the firm as a single partner.

    Within the next three to four years, the venture capital firm—which has been approved as a category II alternative fund by the Securities and Exchange Board of India—plans to invest in more than 30 firms. While AJVC will initially only participate in pre-seed rounds, Bhatnagar did not rule out future rounds of follow-on funding in the event that the firm is successful.

    This year, six innovative companies—Go Digit, Awfis, Ixigo, Ola Electric, FirstCry, and Unicommerce—took to the public markets.

    Startups will be more appealing as an investment “Because of the elimination of angel tax and the rationalisation of long-term capital gains tax to 12.5% for unlisted securities,” Bhatnagar stated.

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  • CloudKeeper Expands Its Cloud Cost Optimisation Capabilities With the Acquisition of WiseOps

    A pioneering platform that specialises in Amazon Web Services (AWS) cost and use optimisation, WiseOps, was recently acquired by CloudKeeper, a firm that offers full cloud cost optimisation services from a recent acquisition.

    In spite of the fact that the corporation did not disclose the financial parameters of the transaction, the acquisition was finalised using a combination of cash and equity.

    An undisclosed sum was obtained by the company through a pre-seed funding round that was conducted by CORE91.VC in December of last year. It claims to have a customer base of fifty clients and has achieved revenue of more than one hundred thousand dollars up to this point.

    So, What Exactly Is WiseOps?

    WiseOps is well-known for its AI-driven recommendations and automated optimisations, which enable teams to dramatically cut their spending on cloud services without sacrificing performance or workflow efficiency.

    Clients now have access to an end-to-end cloud optimisation solution that offers increased savings and workflow efficiency. This is made possible by the integration of WiseOps’ intelligent technologies into CloudKeeper’s robust ecosystem.

    By focussing on engineering, WiseOps has differentiated itself in the field of Amazon Web Services (AWS) cost optimisation. The suite of intelligent tools that it provides offers implementations of cost-saving initiatives across all AWS services that can be carried out with a single click and can be integrated smoothly into the flow of work. The AI-driven recommendations and automated optimisations that WiseOps offers are what set it apart from other cloud management solutions. These features enable organisations to consistently cut their cloud spending without sacrificing performance or workflow efficiency.

    The Future

    The co-founder of WiseOps, Ronak Goyal, stated that this creates a tremendous opportunity for both WiseOps and CloudKeeper to engage in innovative activities and provide excellent value to their respective customers. “The integration of our technology and experience is something that we are looking forward to doing in order to provide even more powerful solutions for cloud cost optimisation.”

    According to Praneet Chandra, who is also a co-founder of WiseOps, “Fifteen months ago, Ronak and I founded WiseOps in response to companies struggling with rising costs and cloud infrastructure challenges, which led to layoffs. With our very first client, we were able to cut their cloud bill by fifty percent. This launched our career.”

    🧩
    According to Deepak Mittal, co-founder and CEO of CloudKeeper, WiseOps was the piece of the puzzle that was missing.

    CloudKeeper has evolved into a cloud cost optimisation solution that is genuinely comprehensive as a result of its partnerships with these companies. Mittal went on to say that this will make it possible for us to serve a wider variety of customers, to handle more complicated use cases, and to assist businesses in optimising and engineering their cloud infrastructures in a more efficient manner.

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  • Digital Geo-Spatial Platform Krishi-Decision Support System Launched by Indian Government

    The Krishi-Decision Support System (Krishi-DSS), a geospatial platform based on satellite imagery, was introduced by Bhagirath Choudhary, the Minister of State for Agriculture and Farmers’ Welfare.

    With the platform’s real-time data on a variety of important agricultural indicators, Indian farmers will be able to manage their crops like never before.

    The launch occurred during the National Conference on Space-Driven Solutions for Agriculture Transformation in India, which was a component of the festivities preceding the inaugural National Space Day on August 23, 2024.

    Characteristics and Advantages of Krishi-DSS

    In India, Krishi-DSS is the pioneering programme of its type, designed with the agricultural industry in mind. Satellite imagery, weather reports, reservoir capacities, groundwater levels, and soil health data are all part of the platform’s extensive data set.

    Better decisions and more effective farming practices are made possible since the information is accessible to stakeholders and farmers anytime, anywhere.

    Understanding crop trends, encouraging crop rotation, and fostering sustainable agriculture are all made easier by the system’s sophisticated modules for crop mapping and monitoring.

    Keeping an eye on soil moisture, water storage, and crop conditions can help farmers anticipate and prepare for droughts.

    Field parcel segmentation is also supported by the platform, which enables interventions to be targeted precisely according to the particular needs of each parcel.

    Determinants of Indian Farmers’ Yields

    The introduction of Krishi-DSS might greatly improve the sustainability and productivity of India’s agricultural sector, marking a watershed event in the country’s history.

    The software helps farmers optimise crop productivity and manage risks like pest assaults and extreme weather by combining data from numerous sources. This data provides insights on crop health, weather patterns, and soil conditions.

    The importance of early warning systems for rainfall and lightning strikes was emphasised by Agriculture Secretary Dr. Devesh Chaturvedi, who emphasised the revolutionary significance of space technology in agriculture. In order to lessen losses and improve farmers’ livelihoods, the platform’s capacity to deliver such warnings could be crucial.

    The inauguration of Krishi-DSS occurred during a symposium that also highlighted the significance of academic, private, and government partnerships in promoting the use of space technology in farming.

    The new platform is a major step forward in the long-running collaboration between space technology and Indian agriculture, which began in 1969, according to Nilesh M. Desai, Director of the Space Applications Centre.

    Nirmala Sitharaman, the minister of finance, launched the Digital Public Infrastructure for Agriculture programme in the 2023 budget, of which the Krishi-DSS is a component.

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  • India Australia Rise Accelerator Invite Startups and MSMEs From India and Australia for Climate Smart Agritech

    Startups and MSMEs from both India and Australia are being invited to apply for the Climate Smart Agritech cohort of the India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator. This programme is designed to assist businesses that are looking to expand internationally and is a joint effort between the Atal Innovation Mission and the CSIRO in Australia. The development of new solutions to the most critical agricultural problems faced by both India and Australia has reached a major turning point.

    The RISE Accelerator’s Climate Smart Agritech cohort will begin its mission in October 2024 with a focus on entrepreneurs and micro, small, and medium-sized enterprises (MSMEs) that leverage technology to improve agricultural output and resilience in the context of increasing climatic volatility, resource constraint, and food insecurity.

    Startups and MSMEs that provide solutions that put farmers’ needs, goals, and on-farm practices first are of particular interest to the programme.

    What is RISE Accelerator?

    Since its inception in 2023, the RISE Accelerator programme has played a pivotal role in assisting startups and MSMEs with the validation, adaptation, and piloting of their products for potential new markets. Climate Smart Agritech is a new cohort that aims to support agritech startups and micro, small, and medium-sized enterprises (MSMEs) developing solutions to increase agricultural production and resilience in the context of increasing environmental concerns.

    “While our farming operations are distinct in size and diversity, India and Australia share common agricultural challenges,” stated Tamara Ogilvie, Programme Director of the CSIRO. Participants in this batch will be able to find their product-market fit in a variety of areas and scale their solutions quickly to meet demand on a global scale.

    Participating startups and MSMEs will have access to a variety of resources throughout the nine-month accelerator programme, including online resources, in-person workshops, and even immersion weeks in India and Australia. During these sessions, they will get the opportunity to gain valuable market insights, receive personalised coaching, and receive mentorship from professionals in the field. In order to increase the likelihood of success in new markets, the programme is created to help participants interact with prospective partners and clients.

    Field Trials and Technology Pilot

    “The RISE Accelerator program not only tackles the pressing issues in the agriculture sector but also guarantees that farmers can access and implement resilient practices that are customised to their unique requirements,” according to Pramit Dash, Programme Lead at AIM (Atal Innovation Mission). This is achieved through encouraging innovation and offering a platform for start-ups to scale their solutions.

    Increased productivity, decreased emissions, and optimal use of natural resources are just a few of the pressing issues facing the agricultural sector that the most recent cycle of the program is attempting to address.

    September 15, 2024 is the deadline for RISE Accelerator applications.

    Participation in the programme is free of charge for startups and SMEs, and it offers several chances for travel between India and Australia. Additionally, non-equity grants of up to INR 45 lakhs may be available to certain startups and SMEs.

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  • After the Merger, RIL Might Just Have JioCinema as Its OTT Platform

    According to a media report, Reliance Industries (RIL), the parent company of Star-Viacom18, is considering limiting itself to JioCinema as its only over-the-top (OTT) platform following the merger, subject to regulatory approvals.

    RIL is considering over a combination between Disney+ Hotstar and JioCinema, even though the former has more downloads.

    Star India’s streaming service, Disney+ Hotstar, is owned by Walt Disney, whilst Viacom 18, which is controlled by RIL, owns JioCinema.

    The Future Strategy

    With the acquisition of Star and Viacom18, RIL and Walt Disney planned to construct a $8.5 billion media conglomerate in the coming months. The giant would have had more than 100 channels and two streaming platforms.

    The business is reportedly prepared to shut down channels in Hindi and regional markets in order to appease the Competition Commission of India (CCI) over worries about the market dominance of the projected Star-Viacom18 merger. Pending clearance from CCI and the National Company Law Tribunal (NCLT), the businesses are in a holding pattern.

    Market Dominance

    The average monthly reach of JioCinema was 225 million consumers, as indicated in RIL’s annual report. According to Sensor Tower, 333 million people used Disney+ Hotstar at least once a month in the fourth quarter of 2023.

    When it was at its highest point, with entertainment like HBO and the Indian Premier League (IPL), Disney+ Hotstar had 61 million paid customers. In June, that number dropped to 35.5 million, a substantial decline.

    Why This Merger Will Change the Entire Market Dynamics?

    Viacom18, which is owned by RIL, had previously integrated its Voot brand over-the-top (OTT) platforms with JioCinema. As of now, Viacom18’s OTT offerings included Voot, Voot Select, and Voot Kids.

    The transfer of JioCinema to Viacom18 was previously approved by the NCLT and included investments of INR 15,145 crore in Viacom18 from RIL and Bodhi Tree Systems.

    When JioCinema and Disney+ Hotstar combine, it will become the leading streaming app in India with more than 125,000 hours of Hollywood, sports, and entertainment content.

    The Indian Premier League (IPL) and other major cricket rights will also be held by it. Disney, HBO, NBCUniversal, and Paramount Global will also have content available.

    “Record viewership of the Indian Premier League on JioCinema underscored our ability to scale up audiences on our digital platform in a short time,” RIL chairman Mukesh Ambani had stated in the company’s annual report.

    Disney+, JioCinema, and Hotstar have reportedly been valued higher than the linear TV businesses of their parent firms, according to a recent media report. The valuation of Disney+ Hotstar was INR 16,040 crore, and a Viacom 18 affiliate received INR 24,186 crore for the transfer of JioCinema.

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  • 10 Best Things to Do in Istanbul, Turkey

    The capital, Istanbul, is a unique city where you can witness both modern and traditional life, offering attractions that are filled with culture and history. Whatever it is that you like, from exploring old worship places to lively markets and peaceful boat rides, there is something for everyone. You can also experience the city’s nightlife, which might make you never want to leave! You can do it all by joining hands with the best travel agency, Next Holidays, and getting your Turkey tourist visa from Dubai.

    Visit the Hagia Sophia

    This is one of the most famous sights in the capital. This place served as the place of worship and is now a museum. Its large dome and the blend of designs make it a place you shouldn’t miss. The dome looks like it’s floating, creating a dazzling appearance, while the rest of the structure offers a look at the past.

    Discover the Topkapi Palace

    This palace, once home to sultans, is a large and unique complex that shows the elegant lifestyle of the past Empire. The palace has different sections, including the courtyards with beautiful views. Be sure to see the Dagger of Topkapi and the Diamond of the Spoonmaker, two of the palace’s most famous treasures.

    Explore the Grand Bazaar

    Your trip to the capital wouldn’t be complete without a visit to the lively Grand Market. This historic place, one of the largest and oldest in the world, has over a thousand shops filled with spices and textiles. You can also find amazing jewelry in the markets. Practice your bargaining skills and bring home a piece of the rich culture.

    Take a Bosphorus Cruise

    It is the cruise that offers a special view of the capital, highlighting its skyline, palaces, and fortresses. Whatever it is that you choose, from a short ride or a full-day journey, you’ll get to see two different sides of the city, charming fishing villages, and grand waterfront mansions. Sunset cruises are especially magical.

    Visit the Blue Mosque

    This is famous for its six tall minarets and beautiful blue tiles. You can experience its peaceful atmosphere during prayer times and appreciate the blend of art and building formation that makes this place so special and worth visiting.

    Explore the Basilica Cistern

    This is an ancient underground structure that feels both mysterious and awe-inspiring. Built in the sixth century to supply water to the Great Palace, it has marble columns supporting it. Look out for the Medusa heads, which add a unique and slightly creepy touch to the place.

    Go Up the Galata Tower

    For breathtaking views of the capital, head up this Tower. This old stone tower in the Galata district offers a full view of the city, including sights like the Golden Horn. It’s a great spot to take in the expansive beauty of the capital from above.

    Explore the Spice Bazaar

    This Spice market is a feast for the senses with its bright colors and rich scents. What used to be a spice market, now sells a variety of items, like fruits, and traditional sweets. You can taste different flavors and take home some unique treats.

    Discover Istanbul Modern

    For a taste of culture, it is a must visit this place. This art museum has a wide range of national and international art. With its ever-changing displays, educational activities, and beautiful waterfront setting, it’s a must-see for anyone interested in art.

    Try a Turkish Bath

    Experience the ancient tradition of a bath in the country. Visit one of the capital’s historic baths to enjoy a soothing and refreshing ritual. The steamy environment, cleansing scrubs, and calming massages have been part of people’s lives for generations.

    Tips for Visiting Istanbul

    • Check the climate before having a trip: Summers can be quite intense, so it’s best to visit in spring when the climate is nicer and there are fewer people around.
    • Use local transport to get around: The public transport in the city is easy to understand and cost-effective. This is way better than booking a private cab, as you will save both money and time and can explore local areas
    • Respect the culture: When visiting religious places, it’s important to dress nicely. Always check if it’s okay to take photos, as some places may not allow it.
    • Be responsible: Although this city is usually safe for visitors, be mindful of your things in crowded areas and markets. 

    Pack Your Bags for a New Adventure

    This Turkish city draws you in with its charm and energy. It’s a place where old traditions meet modern life, creating a unique experience. As you explore its historic wonders or enjoy its delicious food, the city leaves a lasting impression. Get ready to explore and let the wonders of the city surprise you.

    Ready to explore some holiday packages from Dubai to Turkey? Hop to the Next Holidays’ official website.