Cash-strapped edtech firm Byju's is likely to pay its employees the April salaries this week, according to sources. The company is grappling with the issue of delays in paying salaries to employees. "There has been a delay in salary. It is expected to be now paid sometime this week," said a person.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
It expects rainfall to be about 106 per cent of the long period average, aided by La Nia conditions anticipated to play a role in the second half of the monsoon season.
Trade links with Israel have strengthened in the past few years, even as the value of goods exchanged with Iran has diminished. Iran accounted for $3.9 billion worth of India's exports in the four quarters ending December 2019, compared to $3.6 billion to Israel. However, India's exports to Iran dropped to $1.2 billion as of December 2023, on a rolling four-quarter basis, while exports to Israel grew to $6.1 billion in the same period.
'The impact player rule has skewed the game heavily in favour of the batters.' 'The second factor is that all venues have BCCI-appointed curators as opposed to local curators.' 'This has essentially taken the home advantage out of the equation.'
'Despite the animosity shown by some of the investors in pursuing uncalled for legal actions, we continue to show good faith towards all our shareholders.'
The ECI data covers 20,421 bonds worth Rs 12,769 crore. The ADR data, however, collated information on 27,811 bonds worth Rs 16,492 crore. The gap is nearly Rs 4,000 crore and involves over 7,000 bonds.
'Ameen Sayani was copied by generations. Now everyone is trying to become smaller Ameen Sayanis in their own way.'
The blast at The Rameshwaram Caf has caused distress and concern among the startup and information technology (IT) community, raising questions related to safety and security. Approximately 10 people were reportedly injured in a low-intensity bomb blast at The Rameshwaram Caf, a popular restaurant in Bengaluru's Brookfield. The surrounding area is a major hub for the Indian technology (tech) industry, housing many startups and top IT companies such as IBM, SAP, Accenture, International Tech Park Bangalore, and Prestige Technostar.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
Ahead of Friday's extraordinary general meeting (EGM), Byju Raveendran, chief executive officer (CEO) of Byju's, told shareholders that he is committed to restructuring the board of the embattled educational technology (edtech) firm. He also committed to appointing two non-executive directors to the board by the mutual consent of the founder and shareholders. The development comes at a time when a consortium of key shareholders, holding over 30 per cent stake in Byju's, issued a notice to the embattled edtech firm this month, calling for an EGM to address "persistent issues", including a proposed change of management at the firm.
A consortium of shareholders with over 30 per cent stake in cash-strapped Byju's might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an 'amicable settlement' or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management. They will vote for a revamp of the existing board, an exercise which would include asking Byju Raveendran to step down as chief executive officer (CEO) and relinquish his operational role, according to sources.
Swiggy is planning to file its draft red herring prospectus with the Securities and Exchange Board of India for its initial public offering (IPO) in the next two weeks, aiming for an $11 billion IPO valuation target. The Bengaluru-based firm plans to raise an estimated $1 billion (Rs 8,300 crore) through the IPO this year. The company is targeting a valuation in the range of $10-11 billion, and it currently has approximately $800 million in cash from the previous funding round, according to sources.
'What has happened at Byju's is no surprise to anyone.'
'There is a behavioural shift and conservativeness with companies cutting down on manpower and rationalising the number of people.'
Byju Raveendran, the founder and chief executive officer of the beleaguered edtech firm Byju's, said the company credited all pending January salaries to employees over the past few days. This was communicated to the employees in another letter sent on February 4. Byju's has about 15,000 employees. "I know you were told that you would get your salaries by Monday.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
The push to develop Ayodhya as a tourism centre, accompanied by large-scale infrastructure projects, comes on the back of years of limited income growth and tourist inflows.
The Indian Railways carried more goods in December 2023 than the same time last year, making more money than any month bar one since the pandemic. The railways made Rs 15,098 crore by carrying freight in December 2023. The number was higher only in March 2023 when it earned Rs 15,769 crore, according to data from the Centre for Monitoring Indian Economy (CMIE).
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