Bullets

Peak XV Partners, a big-name venture capital firm, is shrinking its latest fund by 16%. This is the second time they've cut down the fund since splitting from Sequoia Capital.

The fund, which was originally worth $2.85 billion (₹23,655 crore), will now be reduced by $465 million (3,859.5 crore). Most of the cuts are coming from growth-stage investments.

What does this mean for startups? It could mean less funding available, so founders need to be extra strategic in their fundraising efforts.

Stay tuned for more updates on the venture capital landscape with Bullets by Insider.

Indian IT companies are partnering with third-party sellers to boost their bottom line. This means they're making money from selling other companies' products and services to their clients.

While most companies pass these earnings directly to their clients, analysts predict big names like TCS, Infosys, and Birlasoft will announce higher third-party sales in their upcoming quarterly reports.

Infosys, for example, is expected to see a slight increase in revenue from selling third-party software. Investors are keeping a close eye on this and other key factors in the company's performance.

Be in the loop with more to come with Insider Bullets.

Fintech startup Cred had a good year, with revenue jumping 66% to ₹2,473 crore. However, their overall losses also increased by 22% to ₹1,644 crore.

Despite the losses, Cred's operating losses actually shrank, which is a positive sign. It seems they're making progress in managing their costs.

So, what does this mean for Cred's future?

SoftBank's Vision Fund is pouring a massive $500 million (₹4,150 crore) into OpenAI, the company behind the AI craze.

This investment is part of OpenAI's latest funding round, which is aiming to raise a total of $6.5 billion (₹53,950 crore).

OpenAI has been making waves with its groundbreaking AI technology. Will it create another masterpiece like ChatGPT?

Starting 1 October, life insurance returns are taking a hit! Both participating and non-participating policies will see lower returns due to new surrender value rules.

While you can now cash out after the first year instead of the second, the overall payout will be less.

What does this mean for you? It's time to reevaluate your insurance strategy. Don't get caught off guard!

Also Read: How to get your insurance claim approved, even if its been rejected!

Flipkart and Amazon are gearing up for a massive festive season, with sales expected to soar by 20-25% compared to last year!

Early data shows a strong start, with sales already up by 26% in the first few days.

The market is buzzing with excitement as shoppers take advantage of huge discounts and deals.

Also Read: The reality of Big Billion Days & Great Indian Festival

Bengaluru, once the undisputed king of Global Capabilities Centers (GCCs) in India, is losing ground. While the city has seen a surge in GCC units, its share of the national total has actually decreased.

From 2018 to 2024, the number of GCC units in Bengaluru grew by 41%. However, other cities have grown even faster, leading to Bengaluru's share dropping by nearly 4.5%.

Is Bengaluru losing its edge?

After a two-year legal battle, BharatPe and its co-founder Ashneer Grover have finally reached a settlement.

Grover is officially out of the company and will have no ownership stake. His shares will be transferred to a family trust.

This brings an end to a dramatic saga that has captivated the Indian fintech world. What does the future hold for BharatPe and Ashneer Grover?

WeWork's plan to exit India has hit a snag. The company's attempt to sell its stake in WeWork India has fallen through, despite approval from the Competition Commission of India.

This means WeWork India, a joint venture with Embassy Group, will remain in the Indian market. The company had been looking to raise ₹1,200 crore through a secondary transaction involving a consortium of investors.

So, what's next for WeWork India? Will they continue to expand their coworking spaces, or will they face more challenges?

HDFC Bank is shedding some debt! The Indian lender has sold off a chunk of housing loans worth around ₹6,000 crore and a pile of car loans worth ₹9,060 crore.

Why? HDFC Bank is trying to lighten their load due to stricter regulations. These loans were sold to state-owned banks and securitised into pass-through certificates.

So, what does this mean for borrowers and investors?

India is dreaming big as its planning on being the AI capital of the world. With their huge population, digital skills, and growing tech talent, they're well-positioned to make it happen.

But here's the catch: India's IT industry is mostly focused on exporting software. They need to invest more in domestic AI infrastructure to compete with the big players.

So, what's next for India's AI journey and will it be able to achieve the dream?

ChatGPT creator OpenAI is shaking things up! They're planning to restructure as a for-profit company, giving up control of their non-profit board.

This move is all about attracting more investors and potentially boosting their valuation to a whopping $150 billion (₹12.45 lakh crore).

The non-profit OpenAI will still hold a minority stake in the new company, and CEO Sam Altman will get his first taste of equity. Plus, they're looking to remove the cap on investor returns, making it even more enticing for investors.

Foxconn, the company behind Apple's iPhones, is considering a massive $1 billion (~₹8,300 crore) investment in Tamil Nadu. They're planning to build a unit that makes smartphone display modules.

This would be Foxconn's first facility of its kind in India. And it's not just for Apple! Other companies like Pegatron or Tata Electronics could also use components from this unit.

This move could mean more iPhones being made in India and fewer imports from China.

Swiggy is gearing up for its big public debut with a star-studded endorsement campaign. Celebrities from entertainment, sports, and business are snapping up pre-IPO shares, showing their confidence in the food delivery giant.

Despite competition from rivals like Zomato and Zepto, Swiggy's shares are a hot property in the unlisted market. Over 200,000 shares have already been snatched up by high-profile investors.

Want to get in on the action? Keep an eye on Swiggy's IPO news and other crucial details via this article link.

India's discount broking giant, Zerodha, just announced some impressive numbers for the last financial year. Their profits jumped 62% to ₹4,700 crore, while revenue rose 21% to ₹8,320 crore.

But that's not all. The founders, Nithin and Nikhil Kamath, revealed that traders on their platform are sitting on unrealized profits of over ₹1 lakh crore!

That's a lot of potential gains waiting to be realised. Are you one of them?

Edtech giant Byju's is facing yet another major setback. A US court has ruled that they're in default on a $1.5 billion (₹12,450 crore) loan.

This means lenders can now demand full repayment and even take control of Byju's US operations.

Byju's founders are in a tough spot. It looks like they'll have to come up with a plan fast or risk losing a significant part of their empire.

Mahindra & Mahindra and Skoda Auto Volkswagen India are reportedly talking about forming a joint venture to make cars together.

The two companies have been meeting to discuss the details, including which cars they'll make and where they'll build them.

This could be a big deal for both companies, bringing together their expertise and resources. Looks like we might be seeing a new car duo on Indian roads!

Also Read: Mahindra & Mahindra's Plan to Defeat Competitors

After a long, quiet spell, IT companies are seeing a surge in demand. In just the past two months, these tech giants have bagged 33 deals!

TCS, Infosys, HCLTech, and Wipro are leading the charge, securing contracts with big names like Primark, Rolls-Royce, and McDonald's. It's a clear sign that the IT industry is back on track.

Want to know more about the deals and companies involved? Give us your feedback.

India's wealthtech sector is buzzing with excitement as AI takes centre stage! Startups are ditching traditional robo advisors and exploring cutting-edge AI models like ChatGPT.

Centricity, for example, has built a voice-powered recommendation engine. They're also using AI for everything from finding new clients to training their advisors.

It's clear that AI is the future of wealthtech management. What do you think about this change?

In a major victory for Tata Sons, the GST department has dismissed a demand for over ₹1,500 crore. This comes after a settlement deal with Docomo.

This decision sets a precedent for other companies involved in arbitration cases.

Read about Tata Sons history here.