Bullets

Reliance Industries (RIL) seeks approval for an $8.5 billion (₹70,550 crore) merger of its Viacom18 with Star India, owned by Disney.

If Competition Commission of India (CCI) approves, the merged entity will be a joint venture with RIL, Viacom18, and Disney as partners.

RIL claims the merger won't hurt competition, but acknowledges overlaps in areas like content licensing and advertising.

E-commerce giant Flipkart secured nearly $1 billion (₹8,300 crore) in funding, with Google joining the round for $350 million. This values Flipkart at $35-36 billion (around ₹2.9 lakh crore).

This marks the first time a major internet company has invested in Flipkart since Walmart acquired it in 2018.

It's also the biggest funding by a consumer internet firm in recent times. Flipkart plans to use the funds to restart its quick commerce business (like Zepto or Blinkit) in July and strengthen its core business and ventures like Cleartrip and Shopsy.

Zee Entertainment spent a whopping ₹432 crore ($52 million) on its failed merger with Sony's Indian unit Culver Max Entertainment.

The deal fell through in January due to disagreements over leadership and unmet conditions. This hefty sum includes ₹256 crore spent in the last year alone.

Zee also had to shut down some businesses to meet merger requirements, leading to an additional ₹331 crore in charges.

The breakup between to-be partners was way too expensive for Zee Entertainment. Curious to know what went wrong? Read Is Zee-Sony Merger On or Off?

Spices in India are mostly cleared of Ethylene Oxide (EtO) scare. Tests on popular brands MDH and Everest by India's food safety agency FSSAI found no traces of EtO in most samples.

This comes after Singapore and Hong Kong banned these brands on the grounds that they contained too high EtO levels. Over 300 spice samples across brands are being tested nationwide.

So, was the ban placed on Indian spice brands a fluke or a hypocrisy from competitors?

Also Read: Is the Indian Food Industry in Danger?

IREDA, the renewable energy financier, is gearing up for an FPO (Follow-on Public Offering) to raise more funds. They might issue a follow-on public offering (FPO) later this year or early next year.

This comes after their successful IPO in December 2023. The additional capital will be used to support renewable energy projects in India.  

It’s like they’re saying, “Hey investors, want to save the planet and make some green (money)?”

Paytm's losses widened significantly in Q4 2024, reaching ₹550 crore compared to ₹169 crore last year. Revenue also dipped 3% YoY.

Even profitability metrics like EBITDA painted a concerning picture as it fell to ₹103 crore.

The company attributed these results to temporary issues from the UPI transition and a permanent disruption from the Paytm Payments Bank embargo.

Pine Labs, a $5 billion (₹41,500 crore) fintech company offering payment and BNPL services, is moving its base from Singapore to India.

This simplifies operations and reduces costs for the company. Pine Labs had earlier planned an overseas IPO but delayed it due to market volatility.

This announcement follows a trend of fintech firms like PhonePe and Razorpay returning to India's booming market.

Microsoft is launching a new line of AI-powered PCs called "Copilot+" to compete with Alphabet and Apple.

These PCs will start at $1,000 (₹83,000) and boast features like "Recall," which uses on-device AI to create a searchable history of everything you've done on the computer, from browsing to chats.

This launch comes as Microsoft's stock surges on Wall Street's belief that AI will be a major profit driver.

Land owned by defunct Go First Airlines will be auctioned for ₹1,960 crore.

This follows a Delhi High Court decision allowing lessors to repossess planes, dampening hopes for an airline revival.

Creditors are moving forward with the land sale despite the low chance of recovering a good value for the airline itself.

Also read: Why did Go First Faced Insolvency?

Indian dairy giant Amul launched its milk in the US! They partnered with a local cooperative to handle processing while Amul takes care of branding & marketing.

Initially available in major cities like New York & Chicago, Amul aims to expand further to over 50 countries.

Back in India, Amul reportedly plans to launch a new "super milk" with a much higher protein content.

With health-related allegations rising on Indian food brands, is it a right time for Amul’s launch overseas?

Men's clothing brand Rare Rabbit is raising ₹500 crore in its first funding round. A91 Partners led the round, with participation from the family office of ethnic wear giant Manyavar's founder and Zerodha co-founder. This values Rare Rabbit at ₹2,200 crore.

The funding includes ₹250 crore in new investment and ₹250 crore from existing founders selling part of their ownership.

 This bootstrapped company has grown quickly, reaching ₹600 crore in revenue (over 60% YoY growth) and ₹100 crore in operating profit in FY24.

Nestle India shareholders rejected a proposal to increase royalty payments to its Swiss parent company. Over 57% of shareholders voted against the hike, causing the company's stock to rise slightly.

This comes after Nestle India previously agreed to seek shareholder approval every five years for such royalty payments.

The rejected proposal would have gradually increased royalty payments from 4.5% to 5.25% of net sales over five years.

OYO is revamping its IPO plans. They're close to finalising a $450 million (₹3,735 crore) bond sale to refinance debt. This means their financials could be updated, and hence refiling of the IPO application with the regulator is required.

J.P. Morgan is expected to lead the bond issuance with an interest rate of 9-10%.

OYO's parent company, Oravel Stays Ltd., had already prepaid some debt, reducing the amount needed to refinance.

India is tightening rules for Electric Vehicle (EV) investments under its new policy. Companies from bordering countries like China will face stricter scrutiny.

Tesla, yet to announce plans, might be impacted by the stricter guidelines. Existing carmakers in India won't need new subsidiaries to apply.

The government aims to clarify the policy with detailed information on application procedures and project monitoring.

Also read: Can Tesla Disrupt India’s Auto Industry?

Reliance, Viacom18, and Star India's mega-merger is a step closer! National Company Law Tribunal (NCLT) has approved the plan but it needs creditor sign-off.

The court also appointed a chairperson and other officials to oversee the creditor meetings. The companies must notify relevant authorities, whose silence will be considered consent.

This follows an agreement in February to combine their media and streaming businesses and prepare the largest entertainment arm in India.

Also read: India’s Largest Media Entity: A Good Buy Time?

ONGC, India's oil giant, is considering a joint or solo bid for Ayana Renewable Power, a major clean energy player, along with NTPC Green Energy. This follows National Investment and Infrastructure Fund (NIIF) putting Ayana up for sale.

ONGC recently launched a renewable energy subsidiary and NTPC Green Energy is planning an IPO, hinting at their growing focus on clean energy.

Ayana has a strong project portfolio, making it an attractive target for both companies.

Also read: Top Green Energy Stocks in India

The Internet and Mobile Association of India (IAMAI) raised concerns about the new Digital Competition Bill, fearing it could hinder investments in startups.

This Indian industry body argues the bill's rules might limit business growth. This comes despite a deadline extension for feedback on the bill.

Some industry groups previously requested consultations be delayed until after the upcoming Lok Sabha elections to ensure a new government is involved.

Also Read: Will the Digital India Act Destroy the Indian Data Ecosystem?

Virat Kohli & Anushka Sharma backed Go Digit’s IPO off to a strong start! The retail portion for 9.6 million shares was completely subscribed by 15 May.

Overall, the first day saw 36% subscription for the ₹2,615 crore IPO priced between ₹258 and ₹272 per share.

The company earlier raised ₹1,176 crore from anchor investors.

Funding for female-founded startups in India dropped significantly in 2023. According to a report by WinPe, women received only 9.3% of venture capital funding last year, down from 14.7% in 2021.

This puts India behind other regions like Europe and the US in terms of gender equality for funding.

The World Bank also found similar trends in emerging markets, highlighting a wider funding gap for female founders. The question is what’s being done to prevent it?

Also read: Top Women Entrepreneurs in India

Popular Indian spice brands MDH and Everest are under scrutiny yet again by another country's regulator.

New Zealand is investigating the spice brands’ products for possible ethylene oxide contamination. This chemical is a carcinogen, and its use in food is banned in New Zealand.

A few days ago, Hong Kong & Singapore banned both brands, causing multiple allegations to befall both Indian brands.

Also read: Is the Indian Food Industry in danger?