No financial details were disclosed.
Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
'We want to look at very strong entrepreneurial teams.' 'I want to focus on a full team and not just the entrepreneur, which is building innovative and amazing differentiated businesses in large markets.' 'We also look at business models that are proven and have reasonably good gross margins, which show that this is where a lot of value is getting built.'
Flipkart Group on Monday said it has raised $3.6 billion (about Rs 26,805.6 crore) in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion. The company, which competes with Amazon, Reliance Industries' JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country. The current funding round has also seen participation from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad as well as marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
The Gujarat chief minister tells business leaders he will focus on poverty removal, jobs while pushing growth.
'The inflection point that really happened in the sector was during the pandemic when buyers' perception changed towards consumption and that gave a trigger to pent-up demand with the increased affordability.'
The cities where services have resumed include Bengaluru, Mysore, Pune, Ludhiana, Noida, Gurugram, Raipur, Lucknow, Hyderabad, Kolkata, Ahmedabad and Mumbai. Industry experts believe it would be at least 4-5 days before the backlog of orders can be cleared.
Once stability returns to the secondary market, companies that have obtained approval from Sebi will start tapping the market.
FSN E-Commerce Ventures, the parent of Nykaa, has had a roller-coaster ride since listing last November. The initial public offering (IPO) was priced at Rs 1,125 apiece, and the stock listed at a 96 per cent premium, closing the first day at Rs 2,205 apiece. It subsequently hit a high of Rs 2,573 in late November, but has seen steady selling since, hitting a low of Rs 1,208 in May.
At least 14 of the top 20 venture capital (VC) and private equity (PE) funds in India reduced new deals with start-ups by a fifth in 2022. The number fell from 572 in 2021 to 456 this year, according to data from Venture Intelligence. Sequoia Capital, a leader in investments, retained its top slot but its number of deals fell from 110 in 2021 to 70 this year.
Apple will next week open its first retail store in India, in signs of importance the iPhone manufacturer attaches to the world's fastest growing smartphones market. The company will open its first official store in Mumbai on April 18 and the second in Delhi on April 20. The company at present sells its products in India through exclusive Apple Premium Reseller (APR) stores, large format retail chains like Reliance Digital, Croma etc, mutli-brand retail stores and through e-commerce platforms.
Global sales made via mobile devices are expected to top $638 billion.
Its share among top three e-commerce players grew to 57% in March 2017 from 45% in June 2016
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
The e-commerce industry is expected to return to high growth next year as large players such as Amazon, Flipkart and Paytm Mall begin to look beyond the 20 million customers who shop online on a monthly basis.
The company had reported a turnover of Rs 10,800 crore (Rs 108 billion) in the previous financial year.
'The spurt in demand for Ayurvedic products has exhausted our production capacity.'
Rajeev Mehta, chief executive for IT services, believes this is due to a few client-specific issues, saying the overall business environment continues to look good.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
After losing two festive seasons to Covid-led restrictions, 2022 is seeing an uninhibited celebration of festivals. This is pushing up discretionary spend, which is attracting advertisers and brands, who are ready to capitalise on the momentum. The festive season has begun with Onam and Ganesh Chathurthi held earlier this month in Kerala and Maharashtra, respectively.
Representatives from four states including Maharashtra and Karnataka will also be members of the panel.
'Investors need to have a fairly diversified basket of funds within equities.' 'We want them to allocate to largecap funds, midcap funds and flexicap schemes.'
Byju's, Flipkart, PharmEasy and CRED, among others, have taken the acquisition route to grow
The silver lining is that after two years, e-commerce has emerged as the top sector with $689 million in investments across 15 deals, accounting for 43 per cent of all investments in January 2021.
The churn in Indian labour markets will be led by technology-driven sectors like artificial intelligence and machine learning (38 per cent), followed by data analysts and scientists (33 per cent) and data entry clerks (32 per cent).
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
With consumers staying indoors and e-commerce firms extending their reach to a larger number of pin codes, these giants have snatched a larger share from the offline traders this season.
MHCV sales' grew by 9% to 5,033 units over September 2020 and 3% over October 2019, the first month registering growth over the previous year.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
The market is abuzz with the talk of Snapdeal raising up to $600 million (Rs 3,600 crore) with new investors such as Japan's Softbank and Japanese e-commerce company Rakuten.
Flipkart will need $2 bn annual profit to make Walmart investment viable, which will mean yearly revenue of $100 bn
Its growth has been driven by discounts rather than enticing new customers to its platform
India's retail sector has benefited from the rapid growth in e-commerce
Some of the major spending categories that saw a drop included online food ordering and dining out, with more individuals purchasing groceries and preparing meals at home.
Paytm e-commerce plans to add close to a billion products from across the globe to its platform before the festive season this year.
One needs to charge the device every four days, which can provide over 65,000 blood readings and counts.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
Deepening the funding crisis that startups have been witnessing for some time, the October inflows plunged 75 per cent on-year to $3.3 billion across 75 deals, including six large deals worth $2.2 billion, according to an industry report. Exits touched half of the inflows at $1.6 billion across 15 deals in the reporting months, a significant improvement over the previous month which saw just $653 million worth of exits across 24 deals, but 69 per cent lower on-year basis, according to the numbers collated by EY for the Indian Private Equity & Venture Capital Association, the umbrella body the PEs and VCs. However, the report said, on a month-on-month basis, the inflows continued to grow, clipping at 60 per cent over the September numbers.
