Peyush Bansal, co-founder and CEO of Lenskart and Shark Tank India Judge, is close to joining India’s billionaire club. His eyewear company is preparing to go public in Mumbai, with the initial public offering (IPO) expected in early November 2025. Investors are watching closely, as shares have already seen strong demand in the grey market, signalling confidence in the company’s prospects.
Lenskart’s Strong IPO Plans and Investor Interest
Lenskart has secured approval from the SEBI (Securities and Exchange Board of India) for its draft red herring prospectus (DRHP), a key regulatory step before going public. The company plans to raise INR 2,150 crore through a fresh issue of shares. In addition, existing shareholders and promoters may sell up to 13.2 crore shares via an Offer for Sale (OFS), potentially taking the total IPO size to INR 7,500-8,000 crore.
Lenskart is targeting a November 2025 listing, subject to market conditions. In the grey market, its shares have been trading at about INR 510 apiece, suggesting strong investor interest ahead of the official listing.
Bansal’s Potential Windfall
After the IPO, Bansal is expected to keep a stake worth roughly INR 800 crore. If the shares perform well after the listing, his holdings could exceed INR 1,000 crore, potentially making him India’s next billionaire. Bansal co-founded Lenskart over 15 years ago and has led the company through steady growth and innovation.
Growth and Expansion Driving Lenskart
Lenskart now operates over 2,700 stores and maintains a significant online presence. The company employs robotic technology to efficiently produce eyewear. Customers can try frames at home, take online eye tests, and enjoy doorstep delivery. Recently, Lenskart introduced its B Camera Smartglasses, which integrate UPI payment functionality. These smartglasses allow users to scan QR codes and complete transactions through voice commands, eliminating the need for a smartphone or PIN.
This innovation combines convenience, AI, and security for a seamless payment experience. The IPO funds will support further expansion, development of smart eyewear, technology investments, and acquisitions.
Looking Ahead
The IPO will be a big test for Lenskart. Strong demand in the grey market is promising, but the public listing will show if the company can attract wider investor interest. For Peyush Bansal, it could be the moment that cements his place among India’s wealthiest entrepreneurs and highlights the growing strength of consumer-focused tech companies.
Buying gold during Dhanteras and Diwali is a long-standing Indian tradition symbolising prosperity, wealth, and good fortune. This festive season, JioFinance has introduced Jio Gold 24K Days, a limited-period offer that rewards customers with 2% free gold and a chance to win prizes worth ₹10 lakh on purchases made through the JioFinance and MyJio apps.
From October 18 to 23, 2025, customers buying digital gold worth ₹2,000 or more will receive 2% free gold, credited directly to their gold wallet within 72 hours.
Additionally, customers purchasing gold worth ₹20,000 or more will automatically qualify for the Jio Gold Mega Prize Draw, featuring rewards worth ₹10,00,000, including smartphones, televisions, gold coins, mixer grinders, and gift vouchers. Lucky winners will be chosen through a fair draw and announced on October 27, 2025, via email and SMS.
Whether you’re saving or celebrating, Jio Gold provides a fully digital, secure, and convenient way to buy, store, and redeem gold. Customers can start investing from as little as ₹10, marking an auspicious start to their festive season.
JioFinance’s Push into Digital Gold and Fintech Inclusion
JioFinance’s move to expand into digital gold offerings aligns with India’s growing appetite for asset digitisation and everyday investing. With over 800 million digital users across the Reliance ecosystem, this festive offer not only promotes a traditional purchase but also integrates it within the broader fintech ecosystem.
By blending festive sentiment with modern convenience, JioFinance is positioning itself as a digital-first financial hub, offering services across payments, investments, insurance, and lending, all through one platform. This initiative could further encourage financial inclusion among first-time digital investors, especially during a season marked by prosperity and wealth creation.
Nestlé has made a big announcement that it will cut about 16,000 jobs by 2027. The company’s goal is to save 3 billion francs and boost growth. Apparently, there are several other reasons for this massive cut, and the company would do it over the course of 2 years. So, which departments will be affected? Does that mean there will be no more hirings by Nestlé? What did the higher management say about the move? For all that, learn more.
What’s Happening?
Nestlé’s new CEO, Philipp Navratil, recently revealed that the company is restructuring and 16,000 jobs could fall victim. There are about 277,000 employees (according to reports by The Guardian), and about 6% of them will have to leave the company.
Who’s Affected the Most?
White-collar jobs: About 12,000 of these cuts will be the office staff, managers, and other professional employees.
Manufacturing and supply chain operations: Approximately 4,000 people are involved in producing and delivering Nestlé’s products.
There’s no clear indication of which countries will be most affected. About 4,200 people are working in the UK (especially in offices in Gatwick and a factory in York that makes KitKats).
Why Is This Happening?
Nestlé’s new CEO, Philipp Navratil, is clear about layoffs; he wants to cut costs and boost sales growth.
He said, “The world is changing and Nestlé needs to change faster.”
According to him:
He aims to increase Nestlé’s efficiency by automating specific areas of work.
He wants to make bold moves by creating new products and innovations.
He envisions creating a company culture that focuses on performance and results.
He says the company would reward employees for driving the company’s success.
He says that these job cuts are a big part of Nestlé’s cost-saving plan.
The company is looking to save 3 billion Swiss francs (about £2.8 billion) by 2027.
What Led Nestlé to Cut 16,000 Jobs?
The leadership at Nestlé was shaken in September when its former CEO, Laurent Freixe, was fired for not disclosing a romantic relationship with his subordinate.
Just a few weeks after this scandal, Chairman Paul Bulcke resigned, too.
Amidst all this corporate drama, the company was struggling to increase sales and reduce debt.
So, Nestlé’s new CEO, Philipp Navratil, came up with new plans for the company.
The Financial Picture
Although Nestlé is the world’s largest food company, its sales fell 1.9% year-on-year in the first nine months of 2025. In actual numbers, this dip is 65.9 billion Swiss francs.
The drop was due to foreign exchange rates that saw a 5.4% negative impact from currency fluctuations.
Its organic sales rose by 3.3% (excluding the currency effects). Emerging markets, including India and Brazil, are experiencing 5.2% growth.
And its developed markets, such as Europe and North America, grew by 2.1%.
However, this growth was primarily due to higher prices, rather than selling more products.
What Did the Experts Say?
Chris Beckett, an analyst at investment firm Quilter Cheviot, said that the company’s new CEO is doing what he can to stop Nestlé’s slow decline. According to him, the company has “big ambitions” to make a good comeback, and it’s a work in progress at the moment.
Jio Financial Services Limited (JFSL) has posted strong growth in the second quarter of the financial year 2025-26, ending 30 September 2025, with consolidated total income rising to ₹1,002 crore, up 44% year-on-year. Net income from business surged fivefold to ₹317 crore, while profit after tax stood at ₹695 crore. The results reflect strong operational momentum across JFSL’s NBFC, payments bank, asset management, and digital financial services businesses.
Jio Financial Services Consolidated Financial Highlights for Q2 FY26:
Net Income from Business accounted for 52% of Consolidated Net Total Income (ex-dividend), up from 14% in Q2 FY25
NBFC Assets Under Management (AUM) reached ₹14,712 crore, up from ₹1,206 crore in Q2 FY25
AMC AUM stood at ₹15,980 crore; maiden NFO for actively managed flexi-cap fund garnered ~₹1,500 crore
Pre-provisioning Operating Profit: ₹579 crore, compared with ₹552 crore in Q2 FY25
Profit After Tax: ₹695 crore, compared with ₹689 crore in Q2 FY25
JFSL, a digital-first financial services company catering to core financial needs, reported robust business growth and strong execution momentum in Q2 FY26, with Net Income from Business continuing its upward trajectory.
Net Income from Business comprises gross fee and net interest income from the NBFC and the payments bank; gross fee income from the asset management company; fee and commission income from the payment solutions and insurance broking businesses; and gross fee income from digital gold sales.
Consolidated Net Total Income (ex-dividend) is total consolidated income less finance costs on external borrowings, and includes total income from the AMC, fee and commission income from digital gold, and total income of the payments bank. JPBL was accounted for as an associate until 17 June 2025.
Jio Financial Services Metric
Q2 FY26
Q2 FY25
YoY Change
Consolidated Total Income
₹1,002 crore
₹696 crore
+44%
Net Income from Business (NBFC, Payments Bank, AMC & Other Fees)
₹317 crore
₹65 crore
~5x
Net Income as % of Consolidated Net Total Income (ex-dividend)
52%
14%
+38 pp
Profit After Tax (PAT)
₹695 crore
₹689 crore
+1%
Focus on Growth and Consolidation
Even while pursuing risk-calibrated growth across businesses at various stages – six in incubation and five in scale-up the Company maintained a strong focus on unit economics.
Following Jio Payments Bank Limited (JPBL) becoming a wholly-owned subsidiary in June 2025 after acquiring SBI’s remaining shareholding, its financials are now fully consolidated with JFSL. Q2 FY26 marks the first full quarter of this consolidation; in Q2 FY25, JPBL was accounted for as a joint venture.
Products and Distribution
JFSL accelerated new product launches and expanded its omni-channel distribution network. In just 16 months since the JioFinance app launch, JFSL now has ~18 million unique users across its digital platforms.
Jio Credit Limited (JCL), the NBFC arm, reported 12x YoY growth in AUM, with traction across secured lending solutions spanning retail and corporate finance. The NBFC expanded its physical presence to 14 cities through 15 offices.
JPBL introduced Savings Pro, allowing auto-investment of idle liquidity into overnight mutual funds. It also entered the toll processing business, managing operations at 12 toll plazas on National Highways, including two barrierless plazas under the government’s MLFF project. JPBL’s Business Correspondent network grew to ~200,000, with a customer base of 2.95 million and a deposit base of ₹421 crore – both roughly doubling YoY.
Jio Payment Solutions Limited (JPSL) saw its Transaction Processing Volume rise 167% YoY to ₹13,566 crore. A new tap & pay contactless card payments service was launched in partnership with Mastercard, currently for a closed user group.
Insurance and Asset Management
Jio Insurance Broking Limited facilitated ₹347 crore in premiums and issued 2.9 lakh policies across life, health, and general insurance. Its Digital Point of Sales Person channel now spans 100+ cities across six states.
Jio BlackRock Asset Management Private Limited, a 50:50 JV with BlackRock, launched six funds, including its first active equity fund using BlackRock’s AI-driven Systematic Active Equity approach. The Flexi Cap Fund attracted ~₹1,500 crore through its NFO. The AMC now serves 150+ institutional and 635,000+ retail investors.
Technology and Analytics
All JFSL entities operate dedicated data lakes for real-time analytics. These support live machine learning models for precise customer targeting and product propensity, with intelligent, contextual architecture to deliver the right product to the right customer at the right time.
Hitesh Sethia, Managing Director and CEO, JFSL, said, “The significant growth in business income is a direct result of the initiatives taken over the last few quarters towards scaling up profitably, by pursuing a risk-calibrated growth strategy. Our expanding user base is a validation of the enthusiasm with which our offerings have been met in the market. As we design financial services of the future for all Indians, we are actively leveraging next-gen AI and analytics to position JioFinance as a trusted, intelligent, and simplified digital platform that delivers personalised, and fit-for-purpose products to each individual customer. The results of these efforts would become more pronounced over the coming quarters.”
India’s startup and corporate ecosystem witnessed significant developments on 16th October 2025. Quick-commerce, audio platforms, health tech, AI, and life sciences startups secured funding rounds to expand operations, enhance technology, and scale services. On the corporate front, French luxury retailer Galeries Lafayette announced its debut in Mumbai, while Goldman Sachs unveiled plans for further job cuts as AI-driven efficiency initiatives take shape.
Daily Indian Funding Roundup – 16th October 2025
Company
Amount
Round
Lead investor(s)
Sector
Zepto
$450 Mn
Funding round
CalPERS
Quick-commerce / Grocery delivery
Kuku FM
$85 Mn
Funding round
Granite Asia and others
Audio / Podcast platform
Dashamlabs
INR 12 Cr
Seed round
Speciale Invest
Health tech / Lab diagnostics
FireAI
INR 4 Cr
Seed round
IPV
AI / Productivity tools
Graph AI
$3 Mn
Seed round
Bessemer Venture Partners
Life sciences / Pharmacovigilance AI
Zepto raises $450 Mn led by CalPERS; plans IPO next year
Quick-commerce startup Zepto has raised $450 million in a funding round led by CalPERS, marking one of the largest investments in the Indian instant grocery delivery space. The startup plans to utilize the funding to expand operations across multiple cities, enhance technology infrastructure, and prepare for an initial public offering next year, reinforcing its position in India’s competitive quick-commerce market.
Kuku FM raises $85 Mn from Granite Asia and others
Audio platform Kuku FM raised $85 million from Granite Asia and other investors to strengthen its position in India’s rapidly growing podcast and audio content market. The funding will be used to expand content offerings, invest in technology and recommendation algorithms, and scale marketing operations. This round positions Kuku FM to capture a larger share of the Indian audio consumption audience.
Dashamlabs raises INR 12 Cr in seed round led by Speciale Invest
Healthcare technology startup Dashamlabs secured INR 12 Cr in a seed round led by Speciale Invest. The funding will accelerate the development of its lab diagnostics platform, expand operational capacity, and enhance technological capabilities. Dashamlabs aims to provide affordable and accurate diagnostic solutions, improving access to healthcare services while building scalable infrastructure for the Indian healthcare market.
FireAI raises INR 4 Cr in seed round led by IPV
AI startup FireAI raised INR 4 Cr in a seed round led by IPV to expand its suite of AI-powered productivity tools. The funding will support product development, enhance AI capabilities, and enable market expansion. FireAI aims to make workplace and personal productivity smarter, helping users automate repetitive tasks while improving decision-making efficiency through advanced AI applications.
Graph AI raises $3 Mn in seed round from Bessemer Venture Partners
Life sciences AI company Graph AI raised $3 million in a seed round led by Bessemer Venture Partners to scale its pharmacovigilance and drug safety platform. The funding will help accelerate product development, expand global reach, and onboard enterprise customers. Graph AI aims to leverage artificial intelligence to streamline drug monitoring, ensure patient safety, and improve compliance in the pharmaceutical industry.
Key Business News for 16th October 2025
Galeries Lafayette to Open First Luxury Store in Mumbai with Aditya Birla Group
French luxury department store Galeries Lafayette is set to debut in India with its first store in Mumbai, in partnership with Aditya Birla Fashion and Retail Ltd (ABFRL). Scheduled to open in early November, this flagship store will offer a curated selection of high-end fashion, beauty, and lifestyle brands. A second store is planned for Delhi, signaling Galeries Lafayette’s confidence in India’s growing luxury market. ABFRL, which already manages several international premium brands in India, aims to redefine the luxury retail experience by introducing a Parisian touch to Indian consumers.
Goldman Sachs Plans Further Job Cuts as AI Drives Cost Savings
Goldman Sachs has announced plans for another round of layoffs before the end of the year, as part of its “OneGS 3.0” strategy to enhance efficiency through artificial intelligence (AI). An internal memo indicated that the firm intends to “constrain headcount growth” and implement “limited reductions in roles across the firm.” Despite these cuts, the company expects its total headcount to rise slightly by year-end. The strategy focuses on integrating AI into areas such as vendor management, regulatory reporting, lending procedures, and client onboarding, aiming for greater speed and agility in operations.
India’s fast-growing quick-commerce platform, Zepto, has raised $450 million in a new funding round led by CalPERS (California Public Employees’ Retirement System), valuing the company at $7 billion. The funding round is one of the largest investments in the Indian startup ecosystem this year and sets the stage for Zepto’s planned IPO in 2026.
What the funding means – cash, growth and market share
Most of the round was reported to be a mixture of primary and secondary capital, with a significant portion being primary (new money into the business). Zepto’s founders say the fresh capital will be used to strengthen the company’s balance sheet, accelerate growth and help it regain market share in the highly competitive quick-commerce space. The startup also says it now has close to $900 million in net cash in the bank after the round.
Analysts and company sources note that Zepto has been expanding fast but faced some operational challenges earlier in 2025, for example, pressure in parts of its food delivery vertical and some store-level difficulties. The new funding should give it more runway to invest in logistics, customer acquisition and product improvements.
Investors, valuation and the IPO plan
Founded by Aadit Palicha and Kaivalya Vohra, Zepto’s latest funding round was led by CalPERS and included participation from existing investors such as Avenir, Lightspeed, Nexus Venture Partners, Glade Brook, StepStone Group and others. Over the past two years, Zepto has raised multiple large tranches; this round brings the company’s total fresh funding to nearly $2 billion in under two years, according to reports.
Zepto had earlier deferred plans for an initial public offering, saying at the time that private capital offered a better path. With this new backing and improved market position, Zepto is planning a 2026 listing, though final timing and markets have not been confirmed by Zepto publicly. Investors and founders typically monitor market conditions before taking that step.
Institutional: Y Combinator, Nexus Venture Partners, Glade Brook Capital; Corporate: Kaiser Permanente; Angel: Lachy Groom
Dec ’21
Series C
$100M
Institutional: Y Combinator, Glade Brook Capital, Nexus Venture Partners, Breyer Capital, Contrary Capital, Global Founders Capital; Angel: Lachy Groo
Zepto’s financial growth
Zepto’s growth trajectory continues to impress. The company’s revenue jumped from INR 2,026 crore in FY23 to INR 4,454 crore in FY24, while losses narrowed slightly from INR 1,272 crore to INR 1,249 crore during the same period.
As per the company’s latest filings, turnover for FY25 reached INR 11,110 crore ($1.3 billion), more than doubling from the previous year. Although the company hasn’t disclosed full financials for FY25, this rise in turnover highlights growing demand for ultra-fast grocery delivery across key Indian cities.
Zepto expands ESOP pool worth over $169 million
Zepto has expanded its existing Employee Stock Ownership Plan (ESOP) by adding additional options worth more than $169 million (INR 1,486 crore), according to filings exclusively reported by Entrackr.
According to filings with the Registrar of Companies (RoC), Zepto’s board has approved 39.39 lakh new ESOP options, taking the total pool to 1.22 crore options. This expansion increases the total ESOP valuation to approximately INR 4,637 crore ($527 million).
The company is also extending an interest-free loan of up to INR 700 crore to the Zepto Employee Stock Option Trust to support the purchase or subscription of shares under the ESOP Plan I.
The ESOP expansion coincides with Zepto’s Series H funding round and is seen as part of its broader plan to reward and retain key talent as it prepares for a potential public listing next year.
Why this matters
Zepto’s latest funding and ESOP expansion show that investor confidence in India’s quick-commerce market remains strong, even amid growing competition from Blinkit, Swiggy Instamart, and BigBasket Now.
With a strong balance sheet, an expanding employee ownership plan, and solid revenue growth, Zepto appears to be gearing up for its next phase of expansion, one that could take it from startup status to one of India’s most anticipated public listings.
One97 Communications, the parent company of Paytm, has authorised an internal reorganisation plan to directly own a number of its technological and financial businesses. The business stated in a filing with the exchanges that the action is a component of its endeavours to enhance operational efficiency, fortify governance, and streamline its group structure.
According to the plan, Paytm will pay up to INR 50 lakhs to founder Vijay Shekhar Sharma and his company VSS Investco Pvt Ltd for around 51.22% of the equity shares of Paytm Financial Services Ltd (PFSL). Following the purchase, One 97 Communications will acquire full ownership of PFSL.
Later Paytm Plans to Move all these Entities Under One97 Communications
After this, Paytm will directly or indirectly own Admirable Software, Mobiquest Mobile Technologies, Urja Money, and Fincollect Services, the companies in which PFSL has interests. The fintech major stated that it intends to use intra-group transfers in the future to transfer these holdings directly under One 97 Communications. Of them, Admirable Software, which offers IT services, reported INR 44 lakhs in FY25 revenue.
Urja Money made INR 18.59 Cr, while Mobiquest, which provides tech and loyalty solutions, recorded a top line of INR 33.43 Cr. In the same year, Fincollect, a company that provides collection services, reported revenue of INR 220.47 Cr. For a maximum of INR 3.52 Cr, Paytm will also buy the remaining shares in Sharma and his owned companies’ Paytm Emerging Tech Ltd (previously Paytm General Insurance), Paytm Insuretech, and Paytm Life Insurance, converting each into a wholly-owned subsidiary.
Additionally, Paytm intends to convert debentures and inter-corporate deposits valued at around INR 15 Cr at face value in order to enhance its ownership of Little Internet Pvt Ltd, an e-commerce company, from 62.53% to roughly 78%.
Why Paytm Opted for this Shift?
The reorganisation follows a year of portfolio changes by the fintech juggernaut with the goal of streamlining ownership among group companies and refocusing on its core business. The board of Paytm approved investments of INR 455 Cr across its subsidiaries in August 2025. These investments included INR 155 Cr in Paytm Services Pvt Ltd (PSPL), which offers manpower and related services, and INR 300 Cr in Paytm Money, the company’s wealth and investment arm.
Paytm Money, which provides mutual fund distribution and stockbroking, reported a 10% decline in turnover from INR 194.1 Cr to INR 172.9 Cr in FY25. Paytm is still optimistic about the vertical’s long-term prospects, though. During the company’s Q1 earnings call, CFO Madhur Deora stated that Paytm is still doing well in the share broking space.
Paytm Money’s licence as a research analyst was issued by SEBI earlier this year, potentially creating a new source of income in the wealth management industry.
Quick
Shots
•Paytm initiates major restructuring
to bring key business units under direct ownership of parent company One97
Communications.
•Move aims to boost operational
efficiency, strengthen governance, and simplify group structure.
•Paytm to buy 51.22% stake in Paytm
Financial Services Ltd (PFSL) from founder Vijay Shekhar Sharma and VSS
Investco Pvt Ltd for up to INR 50 lakh.
•Post-acquisition, One97
Communications will fully own PFSL.
BeastLife, one of India’s fastest-growing fitness and nutrition brands, has joined hands with Annamrita Foundation, a Mumbai-based NGO known for serving nutritious mid-day meals to children in government-aided schools.
Through this partnership, BeastLife pledges that from October 16 onwards, for every order placed on its website, one child will receive a healthy, high-protein midday meal.
This initiative marks a significant step in BeastLife’s mission to make sure that the strength and energy the brand stands for also reaches those who need it the most.
Speaking about the collaboration, Gaurav Taneja, Founder of BeastLife, said:
“At BeastLife, we’ve always believed that true strength is not just about building muscles — it’s about building a stronger, healthier society. With every order placed, we’re not just fueling fitness journeys, we’re also fueling hope and nourishment for children across India.”
Raj Vikram Gupta, Co-Founder of BeastLife, added:
“This collaboration with Annamrita Foundation is close to our hearts. We wanted to ensure that when our community chooses BeastLife for their nutrition, they are also empowering a child to live the BeastLife too. One order, one meal — it’s that simple.”
This partnership is being officially commemorated on World Food Day (October 16, 2025) with the signing of a Memorandum of Understanding (MOU) between BeastLife and Annamrita Foundation — symbolising the start of a long-term journey to combat child hunger and promote better nutrition across India.
Leading with Purpose, Not Just Profit
In an era where startups are often focused on rapid scaling, BeastLife stands out by leading with purpose. The brand’s new initiative emphasises that growth can and should go hand in hand with giving back.
Whether viewed through the lens of a consumer, a marketer, or a socially conscious business, this collaboration represents a new wave of purpose-driven entrepreneurship in India.
“We’re building more than muscles; we’re shaping a stronger future.”
Key Highlights of the Initiative:
1 Order = 1 Meal: Every purchase on BeastLife’s website provides one nutritious, high-protein mid-day meal to a child in need.
Long-Term Partnership: A sustained collaboration aimed at improving nutrition access for children.
Purpose-Driven Growth: Reinforcing BeastLife’s vision that strength is about empowerment, not just fitness.
BeastLife is an Indian fitness and nutrition brand built on the philosophy of strength, consistency, and community. Founded by Gaurav Taneja and Raj Vikram Gupta, BeastLife offers a range of high-quality supplements and fitness products that empower individuals to live their strongest lives — both physically and mentally.
About Annamrita Foundation
Annamrita Foundation is a Mumbai-based NGO dedicated to providing nutritious mid-day meals to children studying in government-aided schools. With a mission to eliminate hunger and malnutrition among school-going children, Annamrita reaches millions of beneficiaries across India every day.
Zerodha Founder and CEO Nithin Kamath has admitted that his personal Twitter (X) account was compromised after he clicked on a phishing e-mail link. The post, shared by Kamath on LinkedIn, has gone viral, not just because of who he is, but because it highlights how even the most tech-savvy people can make simple mistakes online.
Kamath said the e-mail looked genuine and even passed through all spam filters. “I fell for a phishing e-mail early in the morning while at home when browsing on my personal device,” he wrote. “The e-mail got through all spam and phishing filters. I clicked on the ‘Change Your Password’ link and entered the password.”
The attackers then gained access to his Twitter account and posted fake cryptocurrency links before being locked out.
2FA Saved the Account from Complete Takeover
Kamath revealed that two-factor authentication (2FA) saved him from a complete account takeover. “The attackers gained access to a single login session, using it to tweet a few scammy cryptocurrency links. I had 2FA enabled, so luckily, they couldn’t take over the full account apart from gaining access to one session,” he said.
He also mentioned that the entire phishing attempt seemed AI-driven and not targeted at him personally. This reflects a growing trend where cybercriminals use automation tools and AI-generated messages to trick users.
‘All It Takes Is One Slip of the Mind’
In his post, Kamath admitted that the incident happened due to a momentary lapse in attention. “It goes on to show that no matter how careful we are, all it takes is one slip of the mind,” he said.
Kamath added that while technical measures like 2FA are important, they cannot completely protect against human mistakes. “2FA is absolutely essential, but clearly, it is not a technical solution to human psychology,” he wrote.
He further noted that even though Zerodha regularly discusses cybersecurity awareness among its team, one moment of distraction was enough for him to fall victim. “Despite awareness, policies, systems, and conversations at Zerodha on these risks on a regular basis, all it took was one slight slip of the mind,” he said.
Key Lesson: Cybersecurity Is Everyone’s Responsibility
Kamath’s openness about the phishing attack has been praised across social media for its honesty and relevance. His experience serves as a reminder that cybersecurity isn’t just about technology, it’s also about constant awareness and cautious behaviour online.
In today’s world, where phishing attacks are getting more advanced and realistic, Kamath’s message is clear: stay alert, double-check e-mails, and never click on unknown links, even if they look legitimate.
According to reports, Apple is urging the Centre to loosen income tax regulations pertaining to the ownership of “high-end” iPhone equipment that the massive tech company supplies to its contract manufacturers. According to sources who spoke to Reuters, Apple executives have been in discussions with Indian officials in recent months to change the law to exempt the corporation from paying taxes for owning the equipment.
According to the article, the business is concerned that the taxes will impede its ability to expand in the nation in the future. For example, Foxconn and Tata, Apple’s contract manufacturers in India, have invested billions of dollars to establish facilities there.
However, the acquisition of these expensive tools for iPhone production accounts for millions of those costs. The report also asserted that contract manufacturers are limited in their ability to provide funds. Changes to the legacy law will make it easier for Apple to grow. India can raise its level of international competitiveness.
Apple Finds Income Tax Act, 1961 is the Biggest Issue
The Income Tax Act of 1961, which views foreign ownership of industrial equipment as a “business connection”, is at the heart of the controversy. As a result, Apple’s iPhone profits are allegedly subject to national taxes.
The article further stated that if Apple changes its “business practices” in the nation without persuading the central government to amend the tax regulations governing foreign ownership of equipment used in India, the corporation may be subject to billions of dollars in additional taxes.
According to reports, a top Indian official stated that talks were still going on and that it is a “tough call” because Apple’s expanded investments are “equally important. “Investments are needed in India. We must come up with a solution,” the official continued. The government apparently seems wary, though, because any modifications to the income tax regulations may make it less sovereign to tax a foreign corporation.
Apple on an Expansion Spree in India
This development coincides with the Cupertino-based titan’s aggressive expansion of its domestic production capability. As part of this, it started manufacturing the most recent iPhone 17 series in India as soon as it was released.
According to reports earlier this month, Apple exported a record $10 billion worth of iPhones from India between April and September, a 75% increase over the $5.71 billion it exported during the same period last year. As trade tensions between Washington, DC, and Beijing flare, the business intends to move all of its iPhone assembly from the US to India by early next year. The corporation is increasing iPhone manufacture in India at the same time as the export.
Foxconn’s new Bengaluru facility and Tata Electronics’ Hosur plant both started production in April of this year, bringing the big tech giant’s Indian manufacturing network to five locations. Foxconn has invested INR 15,000 Cr to strengthen its operations in the state and support internal R&D activities, according to a statement made a few days ago by Tamil Nadu’s industries minister, TRB Rajaa.
Quick
Shots
•Apple urges India to amend tax laws
affecting ownership of high-end iPhone production equipment.
•Current Income Tax Act, 1961 treats
foreign-owned industrial equipment as a “business connection,” subjecting
Apple to national taxes.
•Apple claims these taxes hinder
expansion and increase operational costs for contract manufacturers like
Foxconn and Tata.
•Talks with Indian officials ongoing,
but government cautious about modifying tax rules for foreign companies.
Damini Bhandary
