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Swiggy has received a tax demand notice amounting to INR 99 lakh. This development raises concerns regarding the financial obligations of the food delivery giant as it navigates regulatory challenges in the evolving market landscape.
Zaggle has increased its investment in Mobileware by INR 7.25 crore. This move highlights Zaggle's commitment to expanding its portfolio in the mobile technology sector, signaling confidence in Mobileware's growth potential.
Goldman Sachs reports that India has likely moved past its most severe economic slowdown, projecting a 6.4% GDP growth for the second half of 2025. While the worst appears over, the firm warns of ongoing market volatility due to domestic investments and global uncertainties, particularly concerning US tariffs. Recent policy adjustments may aid recovery, but investors are advised to remain cautious.
TiEcon Mumbai 2025 concluded successfully, emphasizing the 'Dhanda First' philosophy, which prioritizes business fundamentals and ethical entrepreneurship. Key speakers highlighted India's potential for tech giants, the need for substantial early-stage funding, and the importance of compassionate capitalism in fostering sustainable growth. The summit showcased insights on AI, quick commerce, and the critical role of Mumbai in driving innovation and economic expansion.
BharatPe has achieved adjusted EBITDA breakeven in the first nine months of FY25, significantly reducing its consolidated net loss to 149 crore rupee (US$17.37 million) from 492 crore rupee (US$57.37 million) in FY24. The company's turnaround is attributed to a 182% revenue growth in FY23, reaching 1,029 crore rupee (US$119.99 million), and positive contributions from its NBFC arm, Trillion Loans Fintech, which reported a profit of 29.7 crore rupee (US$3.46 million). This progress follows internal disputes and a leadership change, with interim CEO Nalin Negi at the helm.
Heavenly Secrets Pvt Ltd, the parent company of D2C beauty brand Pilgrim, reported a remarkable 160% increase in operating revenue for FY24, reaching 198.8 crore rupees (US$23.3 million), up from 76.5 crore rupees (US$8.9 million) the previous year. Founded in 2019 by Anurag Kedia and Gagandeep Makker, Pilgrim offers a diverse range of beauty and body care products and has expanded its offline presence with five retail stores and partnerships with 300 stores across India, complementing its online sales channels.
Samvardhana Motherson's share price has risen following Goldman Sachs' acquisition of a stake valued at ₹87 crore. This investment reflects confidence in the company's potential and has positively impacted its market performance.
Ola Electric Technologies has resolved a financial dispute with Rosmerta Group, resulting in the withdrawal of insolvency petitions against the company. The Bengaluru-based firm paid 26.75 crore rupees (US$3.12 million) to settle the claim, prompting Rosmerta to withdraw its petitions from the National Company Law Tribunal.
Bengaluru-based healthtech startup Dozee has raised ₹71.5 crore (US$8.3 million) through a mix of equity and debt funding. The investment includes US$735,689 from Temasek Trust’s C3H and US$6.8 million in debt from Stockhausen International, alongside contributions from undisclosed strategic investors. Founded in 2015, Dozee specializes in contactless patient monitoring systems that track vital signs and feature an early warning system for health deterioration, with plans for international expansion and product diversification.
PhonePe has launched vehicle insurance for two-wheelers and four-wheelers, allowing users to compare and purchase policies via its app. The company, which holds an insurance broking license since 2021, aims to enhance its market presence with potential savings of up to 40,000 rupees on four-wheeler insurance. This development coincides with PhonePe's preparations for an IPO, following a reported profit of 197 crore rupees for FY 2023-24, marking a significant recovery from the previous year's losses.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Swiggy faces tax demand notice of 99 lakh rupees
15:21 26.03.2025
Zaggle increases investment in Mobileware with 7.25 crore funding round
10:26 26.03.2025
Goldman Sachs predicts 6.4 percent GDP growth for India amid market volatility
10:00 26.03.2025
tiEcon Mumbai 2025 highlights dhanda first philosophy for sustainable entrepreneurship
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08:56 26.03.2025
BharatPe achieves EBITDA breakeven and reduces losses in fiscal year 2025
08:10 26.03.2025
Pilgrim reports 160 percent revenue growth in financial year 2023-24
07:30 26.03.2025
Goldman Sachs acquires ₹87 crore stake in Samvardhana Motherson shares
06:48 26.03.2025
Ola Electric resolves dispute with Rosmerta and withdraws insolvency petitions
06:30 26.03.2025
Indian healthtech startup Dozee raises 8.3 million in funding round
05:45 26.03.2025
PhonePe launches vehicle insurance to enhance fintech offerings in India
05:30 26.03.2025
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