Bullets

Purplle, the go-to online beauty store, just closed a massive funding round worth ₹1,500 crore (about $180 million)!

The round was led by the bigwigs at Abu Dhabi Investment Authority (ADIA), with existing investors like Premji Invest and Blume Ventures also chipping in.

With this fresh cash, Purplle is planning on expanding its reach and beating competitors like Nykaa, Amazon, Flipkart, etc.

Will it be able to accomplish the goal?

Remember Zomato Xtreme? The company's hyperlocal delivery service that got put on pause a few months back? Well, it's making a comeback!

While the exact details are still under wraps, Zomato is reportedly planning to relaunch Xtreme with a fresh twist.

It's likely to focus on intracity deliveries for both small & big businesses, similar to services offered by companies like Shadowfax and Porter.

First movie ticket business from Paytm and now fastrack delivery, will Zomato’s plans work?

Hyundai India is gearing up to make its debut on Dalal Street with a massive ₹27,856 crore IPO. This could be the start of a new trend, as other South Korean chaebols may follow suit, especially given the challenges they face at home.

While Hyundai Motor Company is valued at a mere 5x PE, its Indian subsidiary is commanding a much higher valuation of over 26x.

This is largely due to the undervaluation of South Korean stocks caused by corporate governance concerns, geopolitical risks, and regulatory hurdles.

Will Hyundai India's IPO be a blockbuster? Stay tuned to Bullets by Insider for all the updates.

In 2016, a tech startup named OpenAI applied to become a tax-exempt charity. Their goal? To develop artificial intelligence that benefits everyone, not just their bottom line.

One of OpenAI’s founders, Sam Altman, even loaned the company $10 million (₹83 crore) to get started.

So, what’s the big deal? Well, OpenAI has since become a major player in the AI world, with projects like ChatGPT making waves.

TCS, the IT giant, just reported its quarterly results, and they're not great. The company's earnings are down, and they're blaming it on a mix of factors like weak spending and cautious clients.

This is a big deal because TCS is the leader of the $250 billion (₹20.75 lakh crore) IT services industry. If they're struggling, it could mean trouble for the whole sector.

Will TCS be able to turn things around, or is this just the beginning of a bigger slowdown?

Reliance Industries is reportedly in talks to buy a stake in Karan Johar's Dharma Productions. This move could make Reliance a major player in the Indian content production industry.

The size of the deal is still unknown. Karan Johar has been sitting on capitalising Dharma Productions for a while.

Could this opportunity be what brings KJo the golden chance to deal with the top player in the sector?

Elon Musk just unveiled Tesla's futuristic robotaxi, the Cybercab! It's said to be available as early as 2026 for under $30,000 (₹24.9 lakh).

Musk showed off the Cybercab on stage, giving a glimpse into the future of transportation. This robotaxi is a key part of Tesla's plans to dominate the AI market.

This raises the question: Wasn’t Elon Musk just warning us to slow down with AI?

Several big names in the Indian power sector are eyeing Hiranmaye Energy, a Kolkata-based thermal power producer.

The company's assets are set to go under the hammer in mid-October with a reserve price of ₹1,300 crore.

Jindal Power, Vedanta, and CESC are just a few of the players interested in acquiring this thermal plant. The race is heating up as these companies vie for a piece of the Kolkata power market.

Who will win the bid? Stay tuned with Bullets by Insider find out!

Accenture's consulting business is on the rise, suggesting that international clients are starting to spend more freely.

Consulting is a game-changer for tech firms. It helps them build bigger businesses and grow steadily. While outsourcing just gets them a seat at the table, consulting is where the real deals are made. With the rise of AI, consulting skills are more important than ever.

So, are Indian IT firms ready to step up their consulting game?

Ratan Tata, the visionary leader behind the Tata Group, passed away on 09th October, 2024. With his guidance, the Tata Group soared to global heights, navigating economic reforms and globalisation with grace and foresight.

Tata's legacy extends beyond business. Renowned for his humility, compassion, and ethical leadership, he has inspired generations of entrepreneurs and philanthropists.

Want to learn more about Ratan Tata's inspiring journey? Read here.

Swiggy, the food delivery giant, is gearing up for its IPO with a massive stock giveaway to its founders and top executives. The company has granted them employee stock options worth $271 million (₹2,249.3 crore)!

Sriharsha Majety, Swiggy's founder and CEO, is the biggest winner, receiving nearly $200 million (₹1,660 crore) worth of stock.

Other key executives like Nandan Reddy, Phani Kishan Addepalli, and Rahul Bothra also got significant shares.

Want to know more about Swiggy's IPO plans? Read here.

The RBI just increased the limits for UPI Lite and 123Pay.

Users can now use UPI Lite for transactions up to ₹1,000 per payment and store up to ₹5,000 in your wallet. And for UPI 123Pay, the limit has jumped to ₹10,000 per transaction.

This means more convenient and hassle-free digital payments for everyone. Know more about UPI and its related myths from here.

The Reserve Bank of India (RBI) is sticking to its inflation forecast despite rising oil prices and geopolitical tensions. The repo rate remained unchanged at 6.25% for the tenth time with inflation forecast at 4.5%.

While the RBI remains optimistic, the situation in the Middle East is causing oil prices to spike. With higher oil prices, inflation could also rise.

So, what does this mean for you? Keep an eye on your wallet with Insider Bullets as rising prices could affect your daily expenses.

Ola Electric, the electric scooter star, just hit a new low. Its market value dipped below $5 billion (₹41,000 crore) for the first time since it went public.

What happened? Well, founder Bhavish Aggarwal and comedian Kunal Kamra got into a Twitter spat over Ola's service quality. Not exactly the best publicity.

Remember when Ola's IPO was one of the hottest things in town? Its value soared to over $7 billion (₹57,400 crore). Looks like things have taken a turn for the worse.

SaaS firm Whatfix, fresh off a $125 million (₹1,025 crore) funding round, is showering its employees and investors with cash!

They're launching a $58 million (₹476 crore) buyback program, giving people a chance to sell their vested stock options at a premium.

This isn't the first time Whatfix has done this – they've already run three successful buyback programs. Looks like they're taking good care of their team or is there something fishy about this!

Let us know your feedback!

Former cricket captain MS Dhoni is soaring to new heights with his investment in drone startup, Garuda Aerospace. Dhoni has pumped in ₹4 crore, boosting his stake to 1.1%.

Dhoni is excited about Garuda's global expansion and its potential to revolutionise industries like agriculture, defence, and consumer drones.

Garuda's CEO, Agnishwar Jayaprakash, is thrilled to have Dhoni on board, calling him a true inspiration.

Want to know more about Garuda Aerospace's journey?

Swiggy has just launched Bolt, a new service that promises to deliver food in just 10-15 minutes.

This is a major upgrade from their already impressive 30-minute average delivery time.

Swiggy is partnering with top-notch restaurants to ensure quality and speed. Should Blinkit and Zepto be worried?

Also Read: Swiggy is Bringing an IPO; to bet or not?

The consumer lending market is on fire, and fintech firms are reaping the rewards. Companies like Navi, Kreditbee, Moneyview, and Fibe are raking in the profits after a tough few years during the pandemic.

Navi, backed by Sachin Bansal, has seen its Assets Under Management (AUM) skyrocket to ₹10,190 crore in just personal loans alone. They've even turned a profit of ₹669 crore!

It's clear that the fintech lending sector is booming. Are you willing to cash in on this trend?

Google's new India MD, Roma Datta Chobey, is all about aligning with India's ambitious goal of becoming a developed nation. With her banking background and nine years at Google, she's ready to take the reins.

One big announcement: Google's genAI model is coming to India! This means businesses can harness the power of AI right here.

But India's size and diversity pose challenges. Chobey's focus is on making technology accessible and understandable for everyone, from rural areas to urban centers.

Ratan Tata is laughing all the way to the bank after Upstox bought back 5% of his shares. His initial investment saw a whopping 23,000% return!

Tata still holds the majority of his original stake in the startup. He first invested in Upstox back in 2016 and has been watching it grow ever since. The company has been on a roll, reaching a valuation of $3.5 billion (₹29,050 crore) in 2022.

Want to know more about Upstox? Click here for in-depth details.

OpenAI, the brains behind ChatGPT, just closed a massive funding round worth $6.6 billion (₹54,780 Crore). This brings its total valuation to a staggering $157 billion (₹13.03 Lakh Crore), making it one of the most valuable private companies out there.

Big names like Microsoft, Thrive Capital, and Khosla Ventures are backing this AI powerhouse. Even Nvidia is jumping on board!

This funding comes amidst some changes at OpenAI, including the surprising exit of their CTO, Mira Murati. Looks like the company is gearing up for big things!

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.