"Besides, three para shooters -- Singharaj, Rahul Jhakhar and Deepinder Singh (all para pistol shooters) and two coaches Subhas Rana (national coach) and Vivek Saini (assistant coach) did not get their visas.
Online food delivery platform Zomato has decided to narrow its focus on three key areas of food ordering and delivery; supplies to restaurants through 'Hyperpure' and quick commerce, company Chairman Kaushik Dutta said on Tuesday. In his address to shareholders at the company's annual general meeting, Dutta said the move was part of strategy to focus "only on areas that have the potential to become meaningfully large businesses ten years from now". In FY22, he said Zomato was able to achieve strong top line growth while keeping its "adjusted EBITDA burn under control", despite multiple challenges such as disruptions due to Covid-19 pandemic, macro-economic uncertainty, rising inflation, fuel prices, among others.
Online food delivery platform Zomato was on Tuesday forced to clarify over the road safety of its delivery partners as its plans to start instant 10-minute food delivery faced backlash on social media. Zomato founder Deepinder Goyal, who had on Monday announced the company's plans to start a pilot of 'Zomato Instant' with four stations in Gurugram from next month, took to social media to clarify that there are no penalties for late deliveries and no incentives for on-time deliveries for both 10-minute and 30-minute deliveries. The 10-minute delivery will be for specific nearby locations, popular and standardised menu only, he said in a series of tweets.
After new-age tech companies reported better-than-expected June quarter (Q1FY23) results, analysts said it will be a long road to recovery for their respective businesses and the stock prices. Moreover, brokerages differ on whether it is the right time to own these stocks. The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115, translating into an upside of around 9 - 109 per cent from the current levels. The company's gross order value (GOV) of food delivery jumped 10 per cent quarter-on-quarter (QoQ) and 42 per cent year-on-year (YoY) in Q1, aided largely by growth in volume, and mild growth in average order value (AOV) at 1-2 per cent. The company also broke even on an adjusted Ebitda basis during the quarter.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 8,250 crore through an initial share-sale.
The ex-Miss India was part of the launch party of the The Runway Project.
'I advise people to stay away from secondary IPOs. There is a big conflict of interest between the exiting and incoming investors'
Extending support to farmers who have been agitating against the new agricultural laws, the Wayanad MP told media persons, "I have brought farmers' message to Parliament. They (The government) are suppressing the voices of farmers and not letting a discussion take place in Parliament. They will have to repeal these black laws. The entire country knows these laws favour 2-3 big businessmen."
India's first unicorn Zomato will make its stock market debut on Friday, marking a historic moment for the domestic capital market. As per initial schedule, Zomato's listing was to take place on July 27. However, investment banks managed to complete the share allotment and listing formalities ahead of the deadline. Under the Sebi framework, the timeline between IPO closing and listing has to be six working days. Zomato's IPO had closed on July 16.
Start-ups don't care that mad-money funding comes to a hard stop after an IPO, observes Debashis Basu. As a listed entity, corporate actions have to take the interests of all shareholders, especially minority shareholders, into account. So far, we are not seeing any sign of it, observes Debashis Basu.
Unacademy on Monday said it has raised $440 million (about Rs 3,270.8 crore) in funding from a clutch of investors including Temasek, General Atlantic, and Softbank Vision Fund, valuing the edtech major at $3.44 billion. The investment is expected to help Unacademy expand its offerings, deepen its presence and compete more aggressively against rivals such as Byju's in the burgeoning ed-tech space in India that has been witnessing strong uptake amid the pandemic. The series H round was led by Temasek, with super pro-rata participation from General Atlantic, Tiger Global, and Softbank Vision Fund, a statement said.
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
Asked about the customer's refusal to take a delivery from him, Faiyaz admitted he is feeling hurt over whatever happened.
A tweet from a user who goes by the handle '@Vikash67456607' triggered a major Twitter backlash, with the hashtag 'Reject_Zomato' trending on top at the microblogging site. In response, Zomato apologised to Vikash and also issued a statement both in Tamil and English, stressing that the company stood for diversity.
The company, backed by China's Ant Group, is planning to issue fresh shares worth Rs 7,500 crore in the IPO. This will make this India's third-largest offering after Reliance Power and DLF.
Zomato replied to the customer saying, "Food doesn't have a religion. It is a religion."
'We work with a very large restaurant base, we make sure that we're doing the right thing by them, and we're helping them grow because we'll grow only when they do.'
The company, which has been in the news recently for all the wrong reasons, maintains that it was forced to rationalise the staff strength as improvements in technology resulted in certain redundancies in customer, merchant and delivery partner support teams.
Congress leaders Rahul Gandhi and Priyanka Gandhi Vadra left for Lakhimpur Kheri Wednesday evening from a PAC guest house in Sitapur where she was kept in detention since Monday morning.
Zomato is on an acquisition spree, has taken over 5 firms in the past one year.
Judicial Magistrate Ajay Aggarwal granted personal exemption to the CM in the case.
Deepinder Singh Hooda, son of Haryana Chief Minister Bhupinder Singh Hooda, won the Rohtak Lok Sabha seat defeating his nearest rival Abhimanyu of the Bhartiya Janata Party by a margin of 2,32,098 votes.
Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation.
The video, which has been compiled using clips from RSTV, comprises statements made by the opposition MPs in the Upper House, with the words "farmer" and "Pegasus" in the opening lines.
Amid oxygen shortage and a faltering health system in the country, India is seeing over 300,000 cases daily.
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
Company's revenue rises 3-fold to touch $206 million while total cost jumps over 6 times to $500 million
Zomato and Swiggy
Modi will get the maximum chunk of the session time.
India Inc's young minds highlight the need for speed in the decision making of the economy's key issues.
The IPO will be sometime in the first half of next year.
Hundreds of members of the Jat community led by Harayana Chief Minister Bhupinder Singh Hooda on Monday met Rahul Gandhi to thank him after the Cabinet asked the backward classes commission to expeditiously take a call on providing reservation to the community in central government jobs.
Scindia, who is now with the BJP and took oath as a member from Madhya Pradesh, greeted his bete noire before taking oath. Scindia and Singh had differences that led to Scindia quitting the Congress. Scindia also greeted Congress leaders Mallikarjun Kharge and Ghulam Nabi Azad.
'One good thing that has come out of all this is that it shown people that online ordering is the way forward.'
The latest acquisitions are a strategic move to establish Zomato's presence in central and eastern Europe.
The two-month old Amarnath pilgrimage concluded on Wednesday with a group of devotees carrying the mace of Lord Shiva to the 3,880 metre high cave shrine in South Kashmir.
The loss before tax shot up 262 per cent to Rs 492 crore for the financial year ended March 2016.
"Whether I should perform this or not is what I had said," Mahant said.
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