Bullets

Walmart-backed PhonePe becomes a public company, ahead of its planned IPO.

• Aims to list with the valuation of ₹1,200 Cr.

• It dominates the UPI market space with a 50% market share

• In FY24, the company reported a 73% Y-o-Y increase in revenue to ₹5,064 Cr.

• According to reports, Kotak Mahindra Capital, JP Morgan, Citibank Bank and Morgan Stanley have been appointed merchant bankers.

 Will PhonePe's IPO help India's UPI switch?

Zepto's 10-minute delivery was a solution to 2-3 hour wait times and has become a necessity with nuclear homes, limited cars and tight budgets.

But at what cost? Players like Zepto, Blinkit & Swiggy Instamart are experiencing monthly cash burn (₹1,300-₹1,500 Cr.).

These companies have raised ₹25,620 Cr. in total to keep delivering, with Blinkit's parent company capping foreign ownership at 49.5% to gain Indian-owned status, letting it hold inventory and boost margins.

Now the question is, "Can quick commerce really keep up with the high cash burn and impatient customers?"

• Gautam Adani to sell Australia’s North Queensland Export Terminal to Adani Ports and Special Economic Zones Ltd. (APSEZ).
   
• The deal is valued at ~₹20,400 Cr. via a preferential issue.
   
• Terminal is a major coal export hub; originally bought by Adani Ports in 2011, later transferred to the Adani family in 2013.
   
• The company aims to consolidate assets and expand globally.

Is this the move to set the stage for Adani's global takeover?

Wow! Momo has raised ₹130–150 Cr. in a bridge funding round.

The round was led by Malaysia's sovereign fund Khazanah and Haldiram’s promoter Kamal Agrawal.

• Earlier in 2024, it raised ₹350 Cr. from Khazanah, valuing the company at ₹2,400 Cr.

• The chain is expecting to raise ₹600–700 Cr. of funding in the next round by late 2025.

This QSR chain runs 680 outlets today and aims to add 200–250 more in the next 12–14 months.

Is this the MOMO moment investors have been waiting for?

From 8GW today to 100GW by 2047, India plans to grow its nuclear power 10 times, helping meet Net Zero by 2070.

Names like Adani (30GW), Jindal (18GW), and Vedanta (5GW) are stepping in.

Currently, India has 25 nuclear plants, fully controlled by NPCIL.

NPCIL plans 10 new reactors, NTPC aims to add 30GW by 2034, and private firms may fund 50% of the new capacity.

Will nuclear be India's clean energy solution? Also read: How to Benefit from India's Renewable Energy Sector?

Paytm founder Vijay Shekhar Sharma surrenders 2.1 Cr. shares worth ₹492 Cr, following regulatory scrutiny by SEBI. 

• He owned a 14.7% stake but transferred 3.09 Cr. shares to Axis Trusteeship Services.

• This brought his stake below 10%, which was enough for him to become eligible for ESOP and avoid promoter status.

Now, Vijay Sharma has agreed not to accept any fresh ESOPs for the next 3 years and to pay ₹2.79 Cr. to settle a case with SEBI.

What does this mean for Paytm's future?

Shapoorji Pallonji (SP) Group has requested the RBI to back Tata Sons' public listing.

• The group holds an 18.37% stake in Tata Sons.

• It says that the listing will benefit all stakeholders.

• It’s currently facing significant debt repayment pressure.

In 2022, the RBI classified Tata Sons as an Upper-Layer NBFC, which requires it to be listed by September 2025.

But in 2024, Tata Sons applied to deregister itself as CIC and avoid listing. The RBI is reviewing the request.

SP needs liquidity. Tata needs privacy. Whose side will the RBI take?

World's second-largest miner, Rio Tinto, is making a comeback in India after a decade.

It has signed an MoU with India-based AMG Metals & Materials to explore a low-carbon aluminium project.

• The goal is to produce 1 million tonnes of primary aluminium and 2 million tonnes of alumina annually.

• The entire process will be powered by renewable energy—solar and wind, backed by pumped hydro.

This project could help decarbonise industries like auto, construction, packaging, and many others.

Will green aluminium be India’s next big thing? Also read, How to Benefit from India's Renewable Energy Sector?

• The Labour and Employment Ministry signed an MoU with Swiggy to create 12 lakh gig and logistics job opportunities over the next 2-3 years.
   
• Swiggy's job listings will be featured on the National Career Service (NCS) portal.
   
• The goal is to provide verified, real-time opportunities, especially for job seekers from urban and semi-urban areas.

The collaboration gives Swiggy access to a diverse, skilled and job-ready talent pool. 

Will this have a long-term impact on India's logistics opportunities?

China has paused Boeing jet purchases (thanks to the 145% US tariff), affecting deliveries of over:

• 100 Boeing 737 MAX

• 11 Boeing 787 Dreamliners

This could benefit Air India Express and Akasa (Indian airlines that need more planes but face supply delays).

Air India Express already got 25 ‘white tail’ MAX jets and may get 25 more.

Boeing's production line for China sits idle, and Indian airlines, especially Akasa, with more pilots than planes, can fill this demand gap. 

Will this US-China tariff tussle lead to more benefits for India?

Urban Company's female partners are earning more than their male counterparts.

• Between April and December 2024, women earned 36.65% more per hour than men.

• Even among those completing 30 services monthly, women earned 2.67% more.

In the top 5%, 10%, and 20% partners, women earned 9.24%, 7.09%, and 5.55% more than men, respectively.

Recently, Urban Company also secured shareholder approval to raise ₹528 Cr. in primary capital via IPO.

Will Urban Company's IPO be a success with women leading its growth?

All-India electricity demand hit a record of 243 GW in 2023. 

To reduce power cuts, the Central Electricity Authority (CEA) launched a new indigenous software program, Stellar.

Here's what it can do:

• Monitors demand and supply of electricity in real time.

• Runs predictive simulations to forecast power shortages 72h in advance.

It’s being shared free of cost with all the states. It's also expected to reduce pressure on the grid, system costs and dependency on expensive backup options like diesel generators.

India's power sector is transforming. Is this the next big investment opportunity?

Wealthtech startups Dezerv, Centricity, and Ionic Wealth are seeing rising demand from India’s smaller towns.

• Nearly 30% of new clients now come from beyond the top 18 state capitals.

• Dezerv now manages over ₹10,000 Cr. in assets across 200+ pin codes.

Growing financial literacy, better access to digital tools, and technological advancements have helped reduce client servicing costs.

Leading stockbrokes, such as Zerodha, Angel One, and Groww, are also getting 80%+ of new users from non-metro cities.

Is India’s financial revolution starting in Tier 2 and 3 cities? Also read: 7 Steps Guide for Your Financial Plan.

• UPI lets users pay via phone with no extra fee.
   
• Currently, it has 45 Cr. users and handles 46% of the world’s digital payments.
   
• Now, India aims to convert 20-30 Cr. new users to UPI, including children and household workers with no bank accounts.
   
• India is also pushing UPI globally, starting with Singapore and the UAE.
   
• In 2024, Indians living abroad sent ₹10.79 L Cr. to India—global UPI adoption could make this faster and cheaper.
   
• But if fees come back, 73% of users might stop using it. 

Is the future of UPI in danger?

BluSmart is exiting its electric ride-hailing business and will now operate as a fleet partner for Uber, starting with 700-800 cars. 

• High monthly cash burn of over ₹20 Cr. and unsuccessful fundraising.

• Gensol Engineering, backed by Anmol and Puneet Singh Jaggi (BluSmart's owners), is in debt, making it harder to fund BluSmart's operations.

• March salaries have been delayed and have not been cleared yet.

As BluSmart shifts gears for survival, the question remains–"How many EV-related startups can truly lead?"

The fintech startup is seeking new funds, ~₹800-₹1,600 Cr., from existing investors.

This funding round will be led by Singapore sovereign fund GIC at a 30% reduced valuation.

CRED is also eyeing an IPO in the next 2 years. But before that, the company wants to become profitable. And in that spirit, it has:

• Reduced its losses by 40%

• Reported a revenue of ₹2,473 Cr.

• Cut its cash burn by 50%

Will CRED be able to achieve its profitability goal, or will it lose its position as the 7th largest UPI payment app?

Cricketer Jasprit Bumrah has made his first startup investment. He acquired equity in the luggage brand Uppercase.

• He has been the brand ambassador since its inception.

• Now, he'll co-develop a travel gear line for sportspersons.

• The collection includes luggage, backpacks, and gym bags.

The profits generated will be shared with him.

VC firm Accel's ~₹75 Cr. investment in August 2024 has nearly doubled Uppercase's valuation to ~₹516 Cr. 

The startup now aims to achieve break-even soon and is eyeing a future IPO.

Has Bumrah delivered another perfect yorker, this time in the startup pitch?

During her visit to Vienna, Finance Minister Nirmala Sitharaman invited Austrian companies to invest in India's green hydrogen, EV, and digital infrastructure sectors.

• She pitched India as an excellent gateway to Asia and the global South.

• Austria can help Indian firms access Central and Eastern European markets.

India has over 110 unicorns and thousands of successful startups. And Austria has a well-recognised startup ecosystem.

She added that there are opportunities in India for rapid progress.

Will India's unicorns and Austria's ecosystem build the future together?

Indian pharma companies are racing to produce generic versions of semaglutide. 

Semaglutide (used to manage diabetes and weight loss) is the key ingredient in Novo Nordisk’s (a Danish pharma firm) weight-loss drugs, Wegovy and Ozempic.

• These drugs’ patents are set to expire in 2026.

• Zydus Lifesciences is investing over ₹100 crore in a new facility to produce it.

• Dr. Reddy's has already spent a decade working on semaglutide formulations.

Sun Pharma, Cipla, and other Indian firms are also trying to enter this anti-obesity segment.

Will India dominate the weight-loss drug market?

Mosaic Wellness, the parent company of Manmatters, Be Bodywise, and Little Joys, has secured ₹175 crore from Think Investment. 

The Mumbai-based startup was founded in 2020 by Revant Bhate and Dhyanesh Shah.

• In FY24, the company earned ₹333 crore in revenue, a 62% increase from last year.

• It also reduced its losses to ₹39 crore from ₹62 crore in FY23.

Earlier, the company raised ₹178 crore from Peak XV Partners.

Is Mosaic Wellness the next big thing in India’s digital healthcare sector as it’s climbing through different startup funding stages?