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  • Accenture Lays Off 11,000 Employees, Cautions of More Job Cuts Ahead as AI Reshapes Workforce

    In just three months, Accenture has secretly reduced its workforce by almost 11,000 workers, and the axe may not be hanging down anytime soon. The mammoth consulting firm is currently undergoing a comprehensive transformation aimed at equipping it for a future in which artificial intelligence—rather than human consultants—will increasingly guide the ship.

    The Dublin-based company announced specifics of a reorganisation plan for $865 million (about INR 7,669 crore) a few days ago, alerting analysts that more layoffs will be unavoidable if employees cannot be retrained quickly enough. The company’s management, under the direction of CEO Julie Sweet, has said unequivocally that while reskilling is still the best option, not all workers will be promoted.

    Accenture Aims for Financial Gains via Layoffs

    Three months prior, Accenture had 7,91,000 employees worldwide; by the end of August, that number had dropped to 7,79,000. The financial reasoning is obvious. In the most recent quarter alone, severance and associated expenses totalled $615 million, and a further $250 million is anticipated for the current quarter. After everything is said and done, the corporation anticipates that the restructuring will result in savings of over $1 billion.

    Even though it is still among the biggest professional services companies globally, the gradual reduction in staff is anticipated to last until November 2025. Remarkably, Accenture has not disclosed the exact number of positions directly associated with this reorganisation strategy. Nevertheless, the severance expense shows that the impact is substantial and will spread to its operations across the globe.

    Accenture Betting High on AI

    Accenture is increasing its investment in artificial intelligence while simultaneously reducing its human personnel. According to the corporation, generative AI initiatives accounted for $5.1 billion of new bookings in the just-concluded fiscal year, up from $3 billion in the previous year. Its willingness to actively alter its staff can be explained by that kind of growth.

    The company currently employs 77,000 AI and data workers, which is almost twice as many as it had two years ago, Sweet noted. Accenture views these “reinventors” as the cornerstone of its future. Sweet emphasised that personnel reductions are the backup plan in case upskilling doesn’t work.

    The approach is in line with a larger trend in the consulting and IT services industry, which is challenging the traditional paradigm of armies of consultants parachuting into client offices. US federal contracts are declining, corporate clients are reducing their budgets, and Accenture and its competitors cannot ignore the allure of AI-powered efficiencies.

    Quick
    Shots

    •Layoffs are part of a $865 million
    reorganisation plan, projected to save over $1 billion in costs.

    •Employee count dropped from 791,000
    to 779,000, with cuts continuing until November 2025.

    •Generative AI initiatives brought in
    $5.1 billion in new bookings, up from $3 billion the previous year.

    •Company emphasizes upskilling
    workers, but layoffs will proceed if retraining fails.

  • Fixed Deposits vs Other Investment Options: Which is the Better Choice for Your Money?

    For many years, Indian depositors looking for security and stability turned to fixed deposits (FDs). It was common practice to roll over FDs at maturity because it was thought that these investments yielded consistent returns. However, this strategy is being questioned in the current financial environment.

    The yields on top bank FDs as of September 2025 range from 6.25% to 7.1%. Since inflation has been between 5.3% and 6%, the actual returns from foreign direct investments have diminished somewhat. The fact that their money isn’t increasing quickly enough to keep up with escalating living expenses is now an unwelcome reality for savers.

    Given this changing situation, it is critical to investigate more sensible short- to medium-term options that offer flexibility, stability, and higher yields. Bonds stand out among these as a strong option, particularly investment-grade corporate bonds.

    Fixed Deposits More Preferred Investing Domain for Indians

    For the duration of the investment period, FDs give a fixed interest rate, unlike stocks or mutual funds. Because of this predictability, you can budget and manage your finances carefully because you know exactly how much your investment will increase. FDs are regarded as investments with less risk. In India, the Deposit Insurance and Credit Guarantee Corporation (DICGC) provides additional protection, up to a certain maximum, which lessens the risk of losing your main amount.

    They are therefore a safe haven for your hard-earned money. Many banks now provide flexible options, but classic FDs lock your money in for a predetermined amount of time. While some FDs can be connected to your savings account for convenient access to a portion of the cash, others permit partial withdrawals throughout the duration. You can obtain credit when you need it by using FDs as collateral for loans.

    The duration of FDs might range from a few days to several years. Whether you’re saving for a short-term goal like a trip or a long-term purpose like retirement, this allows you to tailor your investment to your specific needs. The method by which you get interest generated on your FD is up to you. You have the option to reinvest the interest for a compounding effect on your returns or to pick monthly distributions to augment your normal income.

    Why FDs are Now Consider Old School

    The purchasing value of your money may gradually decline because FD interest rates are often lower than inflation. Particularly for long-term investing objectives when you need your money to grow and keep up with inflation, this is an important consideration.

    Conventional FDs limit access to your funds for the selected periodebt mud. Partial withdrawals and linked accounts offer some flexibility, but early withdrawals frequently come with penalties that can drastically lower your total earnings.

    Not everyone will find this lack of liquidity acceptable. Interest income from FDs is typically taxable, which affects net returns in contrast to other investment options like Equity-Linked Savings Schemes (ELSS). For investors in higher tax levels, this might be a major disadvantage.

    Alternatives to FDs

    First off, compared to FDs, debt mutual funds offer a balance between moderate risk and the possibility of higher returns by investing in corporate and government debt instruments. They provide some diversity across various debt instruments and are typically less volatile than stocks.

    Second, liquid funds invest in highly liquid assets such as certificates of deposit and treasury bills, making them perfect for emergency funds or short-term investment objectives. They may yield marginally higher returns than conventional savings accounts and enable simple access to your money with few restrictions on redemption.

    Thirdly, purchase firm stock, which has the potential to see substantial long-term capital growth. But compared to FDs, equity funds are more volatile by nature and demand a higher level of risk tolerance. To withstand future downturns, investors should have a long investment horizon and be at ease with market swings.

    Fourth, Recurring Deposits (RDs) help you develop a discipline and saving habit by enabling you to invest a certain amount of money on a regular basis. They can be an excellent choice for gradually increasing a corpus and frequently offer marginally better interest rates than traditional savings accounts.

    Quick
    Shots

    •Fixed interest rates, various
    tenures, compounding options, and use as loan collateral make FDs a reliable
    investment.

    •Real returns are falling as inflation
    (5.3%–6%) erodes purchasing power, making FDs less attractive for long-term
    growth.

    •Premature withdrawals invite
    penalties, and interest income is taxable, reducing net returns.

    •Debt Mutual Funds offer higher
    returns with moderate risk, diversification, and better inflation-beating
    potential.

  • Who is Shailesh Chandra? Tata Motors’ New MD & CEO Amid JLR Challenges

    Tata Motors has announced a major leadership change. Shailesh Chandra will become the company’s managing director and CEO from October 1, 2025. Dhiman Gupta has been appointed as the new chief financial officer (CFO), replacing PB Balaji, who will take over as CEO of Jaguar Land Rover (JLR) in the UK.

    The announcement comes at a time when Tata Motors is managing disruptions at JLR. The UK-based unit recently faced a cyberattack that forced production shutdowns, affecting the supply chain and small suppliers.

    Shailesh Chandra: Tata Motors’ New Leader

    Shailesh Chandra has been with Tata Motors since 2016, joining as Head of Corporate Strategy and Business Transformation. He later became President of the Electric Mobility Business and Corporate Strategy. Chandra will continue leading Tata Passenger Electric Mobility, the company’s EV subsidiary, even after assuming his new role.

    Chandra holds a bachelor’s degree in mechanical engineering from Banaras Hindu University and an executive MBA from SP Jain Institute of Management and Research. He also serves on the boards of Tata Technologies, Fiat India Automobiles, Trilix S.r.l. in Italy, and Tata Motors Design Tech Centre Plc in the UK.

    The leadership change reflects Tata Motors’ strategy to strengthen its passenger vehicle and EV businesses while ensuring smooth operations at JLR.

    Shares Fall 4% as JLR Cyberattack Threatens Tata Motors
    The cyberattack halted JLR production, resulting in weekly losses and an overall loss of £2 billion, which indirectly impacted Tata Motors’ share price by…
    StartupTalky- Business News, Insights and StoriesAdepu Bindu

    Dhiman Gupta and PB Balaji Appointments

    Dhiman Gupta joins as Tata Motors’ CFO. He succeeds PB Balaji, who will now lead JLR in the UK. Balaji’s appointment was announced earlier in August. These moves are part of Tata Motors’ broader plan to divide its commercial and passenger vehicle businesses into separate entities.

    The commercial vehicles division will operate under TML Commercial Vehicles Ltd, while passenger vehicles, EVs, and JLR will remain part of the other firm. Girish Wagh, Kosaraju Veerayya Chowdary, and Guenter Karl Butschek have also been appointed to key roles in the respective boards. Sudha Krishnan joins Tata Motors as a non-executive independent director.

    JLR Challenges and UK Support

    Jaguar Land Rover has been struggling after a cyberattack that disrupted production at UK plants. The shutdown affected suppliers and the wider supply chain. Some smaller suppliers reported that they had limited cash to continue operations.

    The UK government is considering support measures, including a loan guarantee, to protect jobs and ensure the supply chain recovers. JLR aims to restart some production from October 1 but warned that full recovery will take time.

    Looking Ahead

    Shailesh Chandra’s appointment comes at a critical time for Tata Motors. With JLR facing operational challenges and the EV and passenger vehicle segments expanding rapidly, his experience in strategy and electric mobility is expected to strengthen the company’s position.

    The leadership changes signal Tata Motors’ commitment to growth, innovation, and stability. With a clear focus on both global and domestic operations, the company aims to navigate current disruptions while preparing for future opportunities in the automotive sector.

    Jaguar Land Rover Secures £1.5bn UK Govt Loan Guarantee
    Jaguar Land Rover wins UK government-backed £1.5bn loan to recover from cyberattack, protect 120,000 supply chain jobs, and drive EV expansion.
    StartupTalky- Business News, Insights and StoriesNitin Konde

  • Centre Unveils Guidelines for INR 2,000-Crore Nationwide EV Charging Network to Boost Electric Mobility

    Under the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) programme, the Ministry of Heavy Industries (MHI) has released the operating rules for the installation of EV public charging stations (EV PCS). Under the PM E-Drive programme, the government had set aside INR 2,000 crore to install over 72,300 public EV charging stations nationwide.

    The instructions state that in order to facilitate the building of EV charging infrastructure in various places, a tiered subsidy structure will be used. Upstream infrastructure and EV charging equipment (EVSE) on government buildings, including offices, housing complexes, hospitals, and educational institutions, will be fully subsidised, as long as the chargers are accessible to the general public for free.

    Government’s Push for EV’s Expansion Through Subsidies

    The subsidy covers 70% of the cost of EVSE and 80% of upstream infrastructure for transport hubs and public sector-controlled sites such as toll plazas, bus depots, airports, OMC outlets and train stations. Streets, malls, and market complexes are among the numerous public places where an 80% subsidy is provided exclusively for upstream infrastructure.

    Anywhere that battery charging stations and swapping are installed, they are also eligible for an 80% infrastructure subsidy. The benchmark price for upstream infrastructure is INR 6.04 lakh for chargers with a capacity of up to 50 kW and INR 24 lakh for chargers with a capacity of more than 150 kW.

    Benchmark prices for EV Supply Equipment (EVSE) differ depending on the kind and capacity of the charger; for instance, a 50 kW CCS-II charger costs INR 7.25 lakh, while a 100 kW CCS-II charger costs INR 11.68 lakh. These expenses will serve as the foundation for calculating the amounts of eligible subsidies.

    Scheme Focusing on Urban Centres

    The plan will prioritise state capitals, smart cities, satellite towns connected to the metro, high-density national and state highways, and metropolitan centres with a population of one million or more. Airports, train stations and petrol stations are examples of public transportation hubs that have been designated for infrastructure support.

    Incentives will also be available to state and Union Territory governments, including their PSUs and connected agencies, central ministries, and central public sector enterprises (CPSEs) to help electrify government department fleets. Using a specialised web platform, nodal bodies will be in charge of determining high-priority sites and submitting combined bids. Bharat Heavy Electricals Limited (BHEL) has been designated as the Project Implementation Agency in order to guarantee prompt and high-quality execution.

    A two-tranche approach will be used for the subsidy disbursal, with money being granted if performance and compliance requirements are met. In order to facilitate payments, monitor usage, and enable real-time station availability, integration with the National Unified EV Charging Hub will be required.

    Quick
    Shots

    •Full subsidy for chargers and
    upstream infrastructure on government buildings if accessible to the public.

    •70% subsidy for EVSE and 80% for
    upstream infra at transport hubs, airports, bus depots, OMC outlets, etc.

    •Priority to state capitals, smart
    cities, metro-connected satellite towns, and high-density highways.

    •Airports, train stations, and petrol
    pumps identified as key charging hubs.

  • Arattai Surges to No. 1: Can India’s Homegrown Messenger Challenge WhatsApp?

    India’s homegrown messaging app Arattai, developed by Zoho, has shot to the top of app store charts, sparking buzz as a potential WhatsApp rival. Backed by government endorsements and a surge of user interest, the app’s rise highlights India’s growing push for Swadeshi digital platforms.

    A Local App Tops the Charts

    India’s homegrown messaging app Arattai, built by Zoho Corporation, has surged to the top of the country’s app stores. The Tamil word “Arattai” means casual chat or conversation, and the app is living up to its name. This week, Arattai overtook WhatsApp, Telegram, and Signal to claim the No. 1 spot in the Social Networking category on Apple’s App Store.

    Zoho announced the milestone with pride on X (formerly Twitter), saying, “We’re officially #1 in Social Networking on the App Store!” The rise was powered by endorsements, patriotic downloads, memes, and strong visibility across social media.

    Government Push for Swadeshi Apps

    The app’s popularity has also grown with government backing. Union Education Minister Dharmendra Pradhan urged people to adopt Indian-made apps like Arattai. In his post on X, he described it as “secure, user-friendly, and completely free.” The push echoes Prime Minister Narendra Modi’s call for Swadeshi or supporting indigenous products.

    Pradhan said Arattai is built fully in India and encouraged citizens to stay connected using local digital platforms. His endorsement added to the buzz, giving the app a major visibility boost.

    Features That Stand Out

    Arattai offers features similar to global rivals:

    • One-to-one and group chats.
    • Audio and video calls.
    • Document and image sharing.
    • Voice notes and media sharing.
    • Multi-device support, including desktop and Android TV.
    • Stories and channels for broadcasts and updates.

    The app promises a privacy-first approach. Zoho says it does not sell or share user data. For a country where concerns about data security and surveillance are high, this has resonated strongly.

    However, there is one key limitation. While calls are end-to-end encrypted, text messages are not fully encrypted yet. Zoho has said it is working to roll this out soon. Until then, WhatsApp still has the upper hand in terms of security.

    Growing Pains and Challenges

    The sudden surge has created challenges. Servers have struggled with the flood of new users. Some have faced delays with OTPs, syncing contacts, and call quality. Zoho acknowledged these issues, saying it is working hard to expand servers and that fixes may take a few days.

    Tech entrepreneur Vivek Wadhwa tested the app and called it “India’s WhatsApp killer.” He praised its design and ease of use but jokingly suggested renaming it to something easier to spell globally. Memes about how to pronounce “Arattai” have since gone viral.

    Despite the excitement, experts say the real test is long-term adoption. WhatsApp has over 500 million users in India and is deeply entrenched in daily life. While Arattai’s rise shows strong curiosity, keeping users active will be a bigger challenge.

    Conclusion

    Arattai’s climb to the top reflects India’s growing appetite for homegrown apps. With strong government backing, a focus on privacy, and swelling user interest, it has momentum on its side. But for Arattai to truly compete with WhatsApp, it must solve its server issues, add full encryption for texts, and prove it can hold on to its new users once the hype settles.

    Sridhar Vembu: A Journey from Vision to Zoho’s Global Success | Biography | Early Life | Zoho
    Discover the entrepreneurial journey, leadership insights, and vision that propelled Sridhar Vembu to shape the success of one of the leading global software companies, Zoho Corporation. Learn about Sridhar Vembu education, net worth, story, native place, birth date, family, children, and more.
    StartupTalky- Business News, Insights and Storiesshifa ali

  • Ex-Google CEO Criticizes Work From Home, Says it’s “Killing Growth” and Affecting Work-Life Balance

    According to Business Insider, former Google CEO Eric Schmidt has expressed concerns about the expanding trend of flexible employment once more, stating that it may be eroding the tech industry’s competitive advantage. Schmidt said in an interview with the “All-In” podcast that working from home hinders learning and that placing too much focus on “work-life balance” could hurt competitiveness.

    Schmidt asserted that success in the tech industry necessitates making compromises, pointing out that crucial components like innovation, mentorship, and teamwork suffer in remote settings. The comments reaffirm Schmidt’s earlier criticism of Google’s flexible work rules, according to Business Insider. He said last year that the company’s remote work culture was one of the reasons it was lagging behind smaller, quicker-growing AI startups.

    Even though he later changed his mind, his most recent remarks show that he still believes that face-to-face collaboration is crucial for high-achieving teams.

    Schmidt Advocates Work From Office not WFH

    Schmidt stated earlier this month at the All-In Summit that he is not in favour of working from home. His remarks were featured in an episode of the “All-In” podcast that aired on September 24.

    Consider a 20-something who needs to understand how the world functions, Schmidt said, adding that during his early career at Sun Microsystems, he gained a lot of knowledge by listening to his more senior colleagues quarrel. “How do you recreate that in this new thing?” he wondered.

    Schmidt stated that he supports work-life balance and that this is the reason why people are employed by the government. “If you’re going to be in tech, and you’re going to win, you’re going to have to make some tradeoffs,” he stated.

    Schmidt Praises China’s Work Culture

    Although it is legally illegal, China’s demanding “996” work culture—which operates from 9 am to 9 pm, six days a week—is a major competitive threat to the US tech industry, as the former CEO of Google pointed out.

    Eric Schmidt pointed out that even though China has rules prohibiting such long workdays, many businesses and workers continue to follow this taxing schedule, which puts a lot of pressure on US companies to compete. Schmidt’s opinions coincide with the IT sector’s ongoing struggle to manage the long-term effects of the remote and hybrid work arrangements that were implemented during the pandemic.

    Quick Shots

    •Schmidt
    argues that remote setups limit innovation, collaboration, and learning
    opportunities, especially for young professionals.

    •He
    advocates in-person collaboration as vital for building high-performing teams
    and maintaining industry leadership.

    •Schmidt
    believes success in tech requires sacrifices, suggesting work-life balance is
    less compatible with high growth.

    •He warns
    that China’s intense work ethic (9am–9pm, 6 days/week) poses a strong
    competitive challenge to U.S. tech firms.

    •Schmidt
    links Google’s slower growth to remote work policies, contrasting them with
    smaller, fast-growing AI startups.

  • Arattai Messaging App Explained: What it is, Why the IT Minister is Backing it, and if it Can Replace WhatsApp in India

    The government of India is supporting a new competitor in the texting space. Union Education Minister Dharmendra Pradhan promoted Arattai, a native messaging software created by Chennai-based Zoho Corporation, as a WhatsApp substitute that is built in India, to the public recently.

    Pradhan highlighted Arattai’s domestic origins by describing it as “free, easy-to-use, secure, and safe” in a post on the social media platform X. He urged people to support locally produced digital tools to stay in touch with friends, family, and coworkers, tying his suggestion to Prime Minister Narendra Modi’s Swadeshi campaign.

    About Arattai and its Builders

    The app’s name, Arattai, which translates to “casual chat” in Tamil, alludes to its primary goal of simplifying and enhancing daily communication. In addition to making audio and video calls, users may create stories, manage channels, and share text messages, photos, videos, and documents.

    The platform is a flexible choice for both personal and professional use since it allows businesses to reach audiences through content-sharing features. Arattai was created with user privacy in mind and now provides end-to-end encrypted communications, which protect audio and video chats from prying eyes.

    The app, which enables users to stay connected while promoting local innovation, is a component of Zoho’s larger aim to offer Indian substitutes for international digital products. Now for the parent business, Zoho Corporation, which was established in 1996 by Sridhar Vembu and Tony Thomas, is a well-established player in the software industry.

    The company, which has its headquarters in Chennai, provides more than 55 business apps, including those for project management, email, CRM, HR, and accounting. With over 130 million users in 150 countries, Zoho’s clientele includes multinational powerhouses like Amazon, Netflix, Deloitte, Puma, Toyota, Sony, and L’Oréal. Its goal to compete globally while maintaining strong domestic ties is reflected in its motto, “Made in India.” Made for the world.”

    Is it Potent Enough to Challenge WhatsApp?

    Arattai is not yet prepared to completely compete with WhatsApp, despite its increasing popularity and positive ratings. The absence of end-to-end encryption for messages is a significant drawback. A security measure called end-to-end encryption makes sure that only the sender and the recipient may read the messages. The content is inaccessible even to the service provider. It guards against hackers, spying, and unauthorised access to private and business communications.

    Arattai does provide encrypted calls, but communications are still susceptible, which may worry consumers who value their privacy. Arattai is currently unable to provide the same degree of privacy protection that users anticipate from WhatsApp due to the lack of end-to-end encryption for messages. The government’s larger effort to promote the adoption of domestic technology is also reflected in the promotion of Arattai.

    Ministers are promoting Indian-made platforms in an effort to foster local innovation and lessen dependency on multinational behemoths. Arattai is currently establishing itself as a domestic substitute with potential for expansion. Zoho might be the app that revolutionises casual chat for millions of Indians if it can close important security flaws and keep adding new features.

    Quick
    Shots

    •The name Arattai means “casual chat”
    in Tamil, and the app supports texting, voice & video calls, stories,
    channels, and media sharing.

    •It offers end-to-end encryption for
    calls but not yet for messages, which is a key privacy drawback compared to
    WhatsApp.

    •Arattai is part of Zoho’s mission to
    create Indian alternatives to global digital platforms and aligns with the
    ‘Swadeshi’ and ‘Digital India’ vision.

    •With continued development, Arattai
    could become a leading Indian messaging platform for both personal and
    professional use.

     

  • Madhvani Group’s INSCO Assumes Full Control of HNGIL Following Successful IBC Resolution

    Hindustan National Glass & Industries Limited (HNGIL), India’s former largest container glass manufacturer, has been formally acquired by Independent Sugar Corporation Limited (INSCO), a division of the Madhvani Group, based in Uganda, under the Insolvency and Bankruptcy Code (IBC) process.

    INSCO was able to acquire complete control of HNGIL after the official takeover was documented at a board meeting of the newly formed leadership on 26 September. The International Finance Corporation (IFC) and Cerberus Capital Management provided financial support for the transaction, which was spearheaded by businessmen Kamlesh and Shrai Madhvani.

    After the newly established board of HNGIL publicly documented the transition in a meeting on September 26, INSCO took complete control of the company.

    INSCO Received Approval from NCLT

    In addition to regulatory permissions from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI), the INR 2,250 crore Resolution Plan had already received approval from the National Company Law Tribunal (NCLT) on August 14, 2025.

    A 45-day monitoring (transition) phase after NCLT approval made sure that everything went smoothly before the new board took over, which marked the beginning of HNGIL’s rebirth. After seven years of litigation since the start of the Corporate Insolvency Resolution Process (CIRP) in October 2021, this historic deal brings an end to one of India’s most well-known insolvency cases. With a 96.16% majority vote, the Committee of Creditors (CoC) decisively accepted INSCO’s Resolution Plan, demonstrating the group’s robust turnaround approach.

    What is INSCO’s Resolution Plan?

    In accordance with the arrangement, INSCO will pay INR 1,901.55 crore in cash up front to workers, operational creditors, and financial creditors. Additionally, a deferred payment of INR 356.28 crore over three years would be made. Consenting financial creditors have also been given 5% of the stock. The NCLT emphasised that 60% of acknowledged claims will be recouped by creditors, and that the plan represented 72% of HNGIL’s Average Fair Value and 114% of its Average Liquidation Value.

    The chairman of HNGIL’s new board, Shrai Madhvani, underlined the role that the company’s employees play in its rebirth. According to him, the brand is adamant that workers are the cornerstone of any successful turnaround. The committed employees of HNGIL have demonstrated incredible fortitude throughout the insolvency phase, and the organisation is dedicated to collaborating closely with them to create a safe, secure, and sustainable future for the business.

    He went on to say that the cooperation of workers, clients, suppliers, regulators, and the federal and state governments will be necessary for HNGIL to be revived. “Our vision is not only to restore HNGIL to its former glory but also to align our efforts with the ‘Viksit Bharat’ vision of Prime Minister Narendra Modi, contributing to India’s growth ambitions as a global industrial powerhouse,” he stated.

    Quick
    Shots

    •The new board took charge on
    September 26, marking the formal transition and revival of the company.

    •The INR 2,250 crore resolution plan
    received approvals from NCLT, RBI, and CCI, and was backed by IFC and
    Cerberus Capital.

    •CoC approved the plan with a 96.16%
    majority, ending a 7-year-long insolvency battle that began in October 2021.

    •Creditors will recover 60% of
    acknowledged claims, with the plan value at 72% of fair value and 114% of
    liquidation value.

  • WeWork India to Launch INR 3,000 Crore IPO on October 3: Key Details and What to Expect

    According to various media reports, WeWork India, a prominent co-working company, is preparing to conduct its initial public offering (IPO) on October 3. With an estimated price range of INR 615 to INR 648 per share of face value INR 10 each, the issue size is estimated to be close to INR 3,000 crore.. The red herring prospectus (RHP) states that the issue will close on October 7 and that anchor investor bidding will start for one day on October 1.

    The planned IPO is only an Offer for Sale (OFS) of up to 4.63 crore equity shares, according to the draft documents. Shares will be sold by investor 1, Ariel Way Tenant Ltd (a division of WeWork Global), and promoter group company Embassy Buildcon LLP. The listing will not generate any revenue for WeWork India since the issue is an OFS. Currently, WeWork Global owns 23.45% of WeWork India, while Embassy Group owns roughly 76.21%.

    WeWork India Aims to Benefit From Going Public

    WeWork India was founded in 2017 and is run under an exclusive license of the “WeWork” name in India. It is supported by the Embassy Group, a significant real estate company based in Bengaluru. The goal of the offer, according to WeWork India’s draft documents, is to reap the rewards of listing its equity shares on stock exchanges.

    The company anticipates that the listing will increase visibility, give current shareholders liquidity, and create a public market for its stock in India. WeWork Global collected INR 500 crore through a rights issue in January 2024, mainly to fund expansion and decrease debt, after investing $100 million in 2021.

    Major tier 1 cities such as Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai are home to WeWork India’s activities. With a desk capacity of 1.03 lakh, it now oversees 77 lakh square feet of area, of which 70 lakh square feet are used for operations. Over 500 people work for the company. WeWork India is anticipated to make its stock exchange debut on October 10th, with the initial public offering (IPO) taking place in early October.

    Due to a robust IPO market and a resurgence of investor interest in tech equities, a number of technology businesses intend to go public in 2025.

    Lenskart, an eyeglasses startup, has contacted investment banks to present for the mandate for its possible initial public offering (IPO), which may raise $1 billion. Groww, a stock broker, had selected five investment banks for a $1 billion initial public offering.

    In the near future, startups like SoftBank-backed OfBusiness and contract maker Zetwek hope to raise $1 billion through initial public offerings (IPOs). Up to 25 firms hope to debut on the public market in 2025.

    This comprises companies that aim for $500 million initial public offerings (IPOs), such as edtech company PhysicsWallah, AI unicorn Fractal, construction materials portal Infra.market, and leader in rapid commerce Zepto.

    With solid institutional support and a broad range of digital payment and issuance tools designed for India’s quickly digitising commerce sector, Pine Labs’ initial public offering (IPO) is anticipated to be a notable fintech listing in 2025.

    Quick
    Shots

    •Anchor bidding will be held for one
    day on October 1, 2025.

    •WeWork Global holds 23.45%, Embassy
    Group holds 76.21% of WeWork India.

    •Listing aims to enhance visibility,
    provide liquidity to existing shareholders, and create a public market for
    its stock.

    •WeWork India operates across major
    Tier-1 cities with a 1.03 lakh desk capacity and 77 lakh sq. ft. under
    management.

  • Jaguar Land Rover Secures UK Government Guarantee for £1.5 Billion Loan to Drive EV Expansion

    The UK government will support Jaguar Land Rover with a £1.5 billion ($2 billion) loan to alleviate the burden on suppliers caused by the automaker’s production stop, which was brought on by a cyberattack.

    The government announced on 27 September that the loan, which will be given by a commercial bank and insured by UK Export Finance, will be paid back over a period of five years. It comes after the attack earlier this month caused the Range Rover manufacturer to shut down operations in Slovakia, Brazil, India, and the UK, disrupting the larger supply chain.

    The Labour government was in negotiations to provide assistance to vendors affected by the hack, which compelled some to send employees home while others awaited JLR’s payments. The biggest automaker in the UK has 34,000 employees, and its supply chain supports an additional 120,000 jobs in the nation.

    Providing a Side of Relief to Prime Minister Keir Starmer’s Government

    In addition to helping the car industry, this move will also assist in relieving some of the strain on Prime Minister Keir Starmer’s administration before his ruling Labour Party begins its annual conference in Liverpool on September 28.

    This loan guarantee would assist in strengthening the supply chain and protecting skilled jobs in the West Midlands, Merseyside, and throughout the United Kingdom, according to Business Secretary Peter Kyle, who visited the automaker’s headquarters and supplier Webasto this week.

    In order to clear a backlog of supplier invoices, expedite the delivery of parts to dealers, and expedite vehicle sales and registrations, JLR announced on 25 September that some of its systems were back online. Although it has warned that it may take some time to get back to full speed, the company plans to resume certain manufacturing operations on October 1.

    JLR Already Started the Recovery System

    Restarting a small number of its computer systems is the first step in Jaguar Land Rover’s recovery process following a hack. A gradual recovery procedure is also in progress, according to the manufacturer, weeks after the cyberattack compelled the automaker to halt production at all of its UK operations.

    After media reports indicated that JLR would have to pay up to 2 billion pounds since it was not insured against the catastrophe, which has already caused significant financial losses and delayed operations, the company released a statement in response to a request for clarification from BSE.

    According to the announcement, JLR has notified its suppliers, retail partners, and coworkers that certain areas of its digital estate are now operational as part of the controlled, phased relaunch of its business. Its recovery programme’s foundational work is already under way.

    Quick
    Shots

    •Jaguar Land Rover (JLR) secures a
    £1.5 billion ($2 billion) government-backed loan to stabilise operations
    after a major cyberattack.

    •The loan, provided by a commercial
    bank and insured by UK Export Finance, will be repaid over five years.

    •Cyberattack incident forced
    production shutdowns in the UK, Slovakia, Brazil, and India, severely
    disrupting the supply chain.

    •Funding aims to clear invoice
    backlogs, support vendors, and accelerate parts deliveries to dealerships.