E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
'They are geopolitical, commercial, educational, cultural and about innovation.' 'Also, they are about a common value system.'
Having grown swiftly since the acquisition of Flipkart by Walmart in 2018, it was looking at a valuation of $10 billion. However, factors such as lack of diversification, new e-commerce and data policies, as well as the overall investment environment, have slowed the process.
'A start-up with 100 people has reduced the strength to 60-80 people to reduce cost.' 'Even if there is attrition, they prefer not to replace them.'
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
The number of people, the average age and the smartness of the people, willingness to work hard and the fundamental culture of working, will work in our favour, said Kal Raman, CEO of Solutionstar, in an interview to Shobha Warrier/Rediff.com.
The Chinese billionaire and founder of Alibaba is said to be planning a significant investment in business to business e-tailing as well as payment services and logistics companies.
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
India's rank was further amplified by the collapse of the South American and Russian economies.
According to experts, the company might be trying to ape Amazon, the largest e-commerce player in the world.
Paytm e-commerce plans to add close to a billion products from across the globe to its platform before the festive season this year.
Indian businesses in the US have created about 91000 jobs in the US.
While the government's recent moves may have been necessary in some cases, these would have an adverse impact on the investment cycles of some of these companies. The marquee global names are suddenly finding themselves out of favour as local flavour is gaining currency in the run up to 2019 elections.
According to experts, the banning of the apps has created negative sentiments and reduced the confidence among the Chinese investors to invest in India.
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
The Bansals losing out operational control of Flipkart comes at a time when global rival Amazon, in which Tiger Global holds a minority stake, is stepping up investment in India in an attempt to overtake the Bengaluru-based e-commerce firm.
US retail major is in talks with Flipkart, Snapdeal, ShopClues and Grofers for partnership.
The previous United Progressive Alliance government had permitted up to 51 per cent foreign direct investment in multi-brand retail but the current National Democratic Alliance government is opposed to it.
"We are concerned about the data localisation law and the new e-commerce regulations...they do not fully take into account the needs of all stakeholders, including American and other foreign companies," acting principal deputy assistant secretary of the US, Thomas Vajda said.
Since its entry in 2016, Netflix has announced over 60 titles to be sourced from India.
High-level intelligence collection will no longer be the preserve of government agencies alone, says Pranjal Sharma.
Mutliplexes want the gap between a film's release in theatres and on OTT to be doubled from 4 to 8 weeks.
India's largest software services company Tata Consultancy Services (TCS) on Wednesday it has seen a surge in demand for its services and expects to recruit 10,000 individuals in the US by 2022. The Mumbai-based company has hired over 21,500 employees in the past five years in the US.
Blackstone has bought A Wing and some part of B Wing of the building, which has three wings with a total area of 1.5 million square feet.
172 firms participated in the final placement process.
From mass layoffs to acquisitions, here's how the Indian start-up industry kept us on our toes.
According to CAIT, e-commerce policy should take within its ambit not only foreign players but also domestic ones.
Sales of Apple's smartphones in China have suffered a setback.
Swiggy is rapidly scaling up its technology (tech) teams as the food delivery giant is witnessing strong recovery and growth over the past few months. The SoftBank-backed company is hiring across engineering, product, design, analytics, and data science functions in the next two quarters. Building this team, Swiggy is setting up a new development centre in Gurugram. Its rival Zomato, which had a stellar debut on the Indian stock exchanges in July, is also headquartered in Gurugram.
'The competition between the two is definitely going to be of great interest to the Indian market.'
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
Private labels remain big business for e-commerce marketplaces. They comprise almost 15 per cent of the total business of such firms.
'We are offering one year of free music and three months of free movies to a million users through MIUI8.'
One of the key concerns for non-users of voice assistants is trust.
Flipkart, India's largest e-tailer, raised $210 million in a fresh round of funding from a group of four investors led by internet-focussed investment group DST Global, it said in a statement on Monday.
Ajit Balakrishnan offers a thinking man's guide to e-commerce controversies.
It is watching e-commerce policy fineprint before spelling out India plan
Banking sources said the debt recast is actually 'Plan B' to help the nation's largest retailer stay afloat.
'If Amazon's officials had secured their visas through proper paperwork, under what rule or law was Swaraj threatening to cancel them?' 'If she felt a crime had been committed, as a law abiding citizen she should have registered a first information report or a complaint.' 'Instead she fired off a twitter fatwa, acting like a despot.'
