Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
The IPO will be sometime in the first half of next year.
Swiggy is shoring up capital to defend its position as India's largest food-ordering app as rivals Zomato and FoodPanda focus on growth after receiving funds
Company says it is just replacing old guard with stronger leaders
Help came from Sanjeev Bikchandani, founder and executive vice-chairman of Info Edge, the main investor in Zomato.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
Company's revenue rises 3-fold to touch $206 million while total cost jumps over 6 times to $500 million
BWith a distracted president brooding in the White House, Pompeo seems to think his day has come. He seems to be pushing a personal agenda before a target audience in America, observes Ambassador M K Bhadrakumar.
Drawn in by fuzzy promises about unleashing the entrepreneur in each of us and the benefits of being one's own boss, people find themselves instead oppressed by an algorithm, notes Rahul Jacob.
'These reports of cases being very low in other states, is it true? Are the numbers believable?'
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Taxi and autorickshaw drivers under Jai Bhagwan Taxi Rickshaw Sanghatana have announced they would go on indefinite strike from August 29 in Mumbai, Thane and Navi Mumbai.
Though he loves gambling, he cautions against undue risks and says non-professional investors like the salaried class should invest through the mutual funds route and keep aside not more than 10 per cent for self-investing.
'Although I feel more comfortable living with my own people, I often remember those cricket matches by the river bank...'
They have everything they wanted as a teenager - only they seem to have got it all 50 years later, says ad guru Sandeep Goyal.
Nearly one lakh autorickshaws went off the roads in Mumbai on Wednesday during a day-long strike to press for regulation of app-based cab sevices, hitting commuters hard with many stranded in several places across the metropolis.
Mental health and life coach Anu Krishna tells you how to take control of your life.
Nestl is facing its worst crisis ever. Can it learn from its peers?
'The government is not doing anything for the people. They don't know that people foremost need jobs. Where there are no jobs available, you see the youth turning to crime,' says Chennai autorickshaw driver, singer and composer Parthasarathy.
'I am listing here what life in the city with a dependent (but grown up) family is really like,' says Kishore Singh.
'Phone charger, pillow and rug, Kindle, small cocktail in a carafe, a rolled up paratha...' Find out what Kishore Singh takes along for a Delhi-Gurgaon car ride, a journey that often takes three hours!
Indian farmers practise an agro-silvo-pastoral system and that livestock is a crucial part of their economy. Taking away the meat would demonetise their assets. It would kill their income, says Sunita Narain.
In this moment there has to be honest acknowledgement of how so many in our community willingly voted for another four years of Trump, based on the morally flimsiest of reasons, points out Suleman Din.
'Infectious disease is a given of humankind. There will always be another around the corner.'
'It is clear that Britain is a country with a limited future,' says Rajeev Srinivasan.
'For the likes of Zomato or Swiggy or Foodpanda or similar others, the customer has been sensitised for all times to the perils of the food pack being pilfered.' 'An important matter of trust has been exposed. And that really has been the biggest downer of this entire episode,' points out marketing guru Sandeep Goyal.
What's the mantra for reviving ghost malls? Most important, a right mix of products. They also need to transform into community spaces.
Despite presiding over scores of factories in what is today India's largest garment exporter with 105,000 employees, Ahuja is a modest man with much to be immodest about. He tells Rahul Jacob that the government needs a free trade agreement with Europe fast to ensure a level-playing field with Bangladesh and Vietnam.
Here's how to refill the loss of important nutrients when you can't eat them.
While the acceptance of cards, mobile wallets and banking apps is increasing, only 10 per cent of transactions take place through them.
Gujarat is a flourshing state but its business model is not so well accepted at national level.
'Restrict the amount of time you spend on social media.' 'We have people who are glued to it from morning to night, which is certainly not what we recommend.' 'And do not take the stuff that you read on WhatsApp as sacrosanct.' 'A lot of it is absolutely nonsense.'
Readers tell us how they are managing without cash since November 8.
The verdict could impact a range of life choices of Indians, including food habits and sexual orientation.
From Dudhwa to Veppathur and Havelock Island, the Indian tourism market is booming like never before.
Watching a Rajnikanth film in Mumbai's Aurora Theatre can only be compared to watching a Salman Khan film in Bandra's Gaiety-Galaxy, but multiplied 100 times over, feels Saisuresh Sivaswamy.
Once a beggar, Renuka Aradhya's company has a turnover of Rs 30 crore and employs 150 people.
Here's your weekly digest of the most weird, true and funny news from the across the world.
The latest news on models, designers and actors from the world of glamour and fashion.
Five inspiring women who travelled thousands of miles to Hyderabad recently to grow their business and skills share their tales of global entrepreneurship. Vaihayasi Pande Daniel listened in.
