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Source: inc42

Mamaearth Parent Honasa Calls Off ₹135 Cr Fluence Pharma Acquisition

Business

Honasa Consumer, the parent company of Mamaearth, has cancelled its proposed ₹135 crore acquisition of a 58% stake in nutraceuticals startup Fluence Pharma. The deal was called off due to the non-fulfillment of specific closing conditions. Despite this setback, Honasa remains committed to expanding into the nutraceuticals market as part of its long-term growth strategy to diversify its portfolio and increase overall revenue by FY31.

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Source: inc42

Pernia’s Pop-Up Shop Parent Sets IPO Price Band At ₹546-₹575

Business

Purple Style Labs, the parent company of Pernia’s Pop-Up Shop, has announced a ₹680 crore IPO with a price band of ₹546 to ₹575 per share. The offering, open from August 31 to September 2, seeks a valuation of up to ₹4,604 crore. Proceeds will primarily fund lease liabilities and marketing. Despite widening losses, the omnichannel luxury fashion platform aims to expand its designer brand portfolio.

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Source: inc42

Zerodha Fund House FY26: Revenue Up 79% YoY To ₹17 Cr, Loss Narrows

Business

Zerodha Asset Management Pvt Ltd reported significant growth in FY26, with operating revenue jumping 78.7% to ₹16.8 crore. The company narrowed its losses by 37.8% to ₹5.1 crore, despite total expenses rising 29.4% to ₹21.1 crore. Notably, its quarterly average assets under management surged 196% to ₹14,448 crore. The firm, a partnership with CASE Platforms, focuses on passive mutual fund products, including index funds and ETFs.

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Source: inc42

IPO-Bound Pernia Pop Up Shop’s FY26 Net Loss Widens 52% YoY To ₹285.4 Cr

Business

Purple Style Labs, the parent company of Pernia’s Pop-Up Shop, reported a widened consolidated net loss of ₹285.4 crore for FY26, despite a 14% increase in operating revenue to ₹557.8 crore. The company has filed for an initial public offering consisting of a fresh issue of shares worth up to ₹680 crore to fund lease liabilities and marketing expenses, while facing a decline in international GMV contribution.

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Source: inc42

Atomberg DRHP: A Look At Shareholding Pattern & Key Personnel

Business

Consumer appliances brand Atomberg has filed draft IPO papers with SEBI, featuring a fresh issue of up to ₹450 crore and an offer for sale of 7.65 crore shares. Institutional investors including A91 Partners and Temasek Holdings plan to dilute their stakes, while founders Manoj Kumar Meena and Sibabrata Das will retain theirs. Despite a 34.8% revenue increase to ₹1,293.8 crore in FY26, the company's net loss widened.

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Source: inc42

Zoomcar Q1 Net Loss Rises 28% YoY To $5.4 Mn; Revenue Flat At $2.4 Mn

Business

Zoomcar reported a 28% increase in net loss to $5.4 million for the June quarter, despite narrowing its adjusted EBITDA loss by 65% to $0.61 million. Revenue remained flat at $2.4 million as the company shifted focus toward high-value, longer trips. Facing liquidity issues and Nasdaq delisting, Zoomcar is raising capital through bridge financing. Recent expansions include a partnership with Uber and two-wheeler rentals in Bengaluru.

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Source: inc42

Amazon, Flipkart Revise Seller Fees, Penalties Ahead Of Festive Season

Business

"Amazon and Flipkart have updated their seller penalty structures ahead of the festive season to improve fulfillment. Amazon introduced graded cancellation fees ranging from 2% to 10% and increased closing fees. Meanwhile, Flipkart replaced account-level restrictions with order-specific penalties between ₹30 and ₹90 for missed deadlines or cancellations. Both platforms are balancing stricter rules with selective commission reductions to remain competitive against growing quick commerce platforms.".

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Source: inc42

Pine Labs Invests ₹24 Cr In AI R&D In FY26, Cuts Testing Time by Over 95%

Business

Pine Labs invested ₹24 crore in AI and R&D during FY26, significantly enhancing internal efficiency by reducing testing cycles by 95% and increasing developer productivity by 25%. The fintech firm launched AI-driven tools like the P3P payments protocol and SignalIQ bank statement analyzer. Financially, the company turned profitable in FY26 with a net profit of ₹112.5 crore and operating revenue of ₹2,710.6 crore.

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Source: inc42

Pernia’s Pop Up Shop Files RHP, Increases IPO Size To ₹680 Cr

Business

Purple Style Labs, the parent company of Pernia’s Pop Up Shop, has filed its red herring prospectus for a fresh issue-only IPO worth ₹680 crore. The offering opens for subscription from August 31 to September 2, with anchor bidding on August 28. The company plans to allocate ₹371.1 crore for lease liabilities and ₹138.9 crore for sales and marketing through FY30, with remaining funds for general corporate purposes.

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Source: inc42

Nexedge Capital Nets $20 Mn To Scale HNI Wealth Management Platform

Business

"Nexedge Capital, a wealth management startup founded by former 360 ONE Wealth executives, has raised $20 million in its maiden funding round. Co-led by Mirae Asset Venture Investment and Elev8 Venture Partners, the capital will be used to enhance its tech stack, expand its banker network, and grow its Indian presence. The firm currently manages $3 billion in assets and serves over 1,300 high-net-worth families.".

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Source: inc42

MATTER Nets $25 Mn To Scale Manufacturing, Launch Four New Electric Motorcycles

Business

Ahmedabad-based startup Matter Motor Works has raised $25 million in growth capital from investors including Helena and Capital 2B. This funding will expand the company's manufacturing, distribution, and supply chain capabilities. Matter plans to launch four new electric motorcycles based on its AERA platform over the next 12 to 24 months. The startup's flagship AERA model is recognized as India's first geared electric motorcycle.

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Source: inc42

Airbound Bags $37 Mn From Greenoaks, DoorDash To Scale Drone Manufacturing

Business

Bengaluru-based dronetech startup Airbound has raised $37 million in a Series A funding round led by Greenoaks, bringing its total funding to nearly $50 million. The company specializes in autonomous drones for transporting goods, utilizing a unique blended-wing-body design. Airbound plans to use the capital to scale manufacturing and engineering, aiming to expand its delivery networks across healthcare, ecommerce, and retail sectors, starting in Andhra Pradesh.

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Source: inc42

Karnataka Suspends Amazon, Instamart, BigBasket Food Licences Over Toxic Datura Listings

Business

"Karnataka has suspended the food licenses of Amazon, Swiggy Instamart, and BigBasket after the platforms listed poisonous Datura fruits and seeds for human consumption. The Karnataka Food Safety and Drug Administration Department ordered the immediate removal of these listings and requested compliance reports. This action reflects increasing regulatory scrutiny of quick commerce platforms regarding food safety, following similar license suspensions for other delivery services in Maharashtra.".

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Source: inc42

Infineon To Acquire Peak XV-Backed C2i Semiconductors To Bolster AI Play

Business

German semiconductor giant Infineon is acquiring Bengaluru-based C2i Semiconductors to enhance its power management portfolio for AI data centers. The undisclosed deal, expected to close in the third quarter of 2026, integrates C2i’s software-defined power technology and vertical power delivery expertise. This acquisition underscores the growing strategic importance of India's semiconductor ecosystem and engineering talent as global demand for AI infrastructure continues to rise rapidly.

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Source: inc42

Men’s Ethnic Wear Gets Its Second Wave

Business

Indian men's ethnic wear is evolving from seasonal festive attire to everyday fashion, driven by D2C brands targeting younger consumers. While the market is expanding into casual and work settings, brands face significant challenges regarding profitability, inventory management, and the need for physical retail to ensure proper fit. Despite these hurdles, the fragmented nature of the industry offers substantial growth potential as organized retail replaces traditional tailoring.

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Source: inc42

SoftBank Sells ₹2,900 Cr Stake In Lenskart Via Block Deals

Business

SoftBank, through its entity SVF II Lightbulb (Cayman) Ltd, sold 4.5 crore Lenskart shares at ₹641.75 each, raising ₹2,887.9 crore. This marks the second partial exit following a June sale of 5.65 crore shares. Major buyers included Societe Generale and Goldman Sachs. The divestment follows Lenskart's strong stock performance and financial growth, with the company achieving maiden profitability in FY25 and expanding its international operations.

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Source: inc42

Y Combinator Offloads Meesho Shares Worth ₹970 Cr

Business

Y Combinator offloaded approximately 4.85 crore shares of ecommerce platform Meesho, representing a 1% stake, through block deals at an average price of ₹200.01 per share. The sale, totaling roughly ₹969.6 crore, was absorbed by major institutional investors including Nippon India Mutual Fund and HDFC Standard Life. This follows Meesho's Q1 FY27 results, which showed a 54.1% reduction in net loss and 48% revenue growth.

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Source: inc42

Qualcomm Offloads Shadowfax Shares Worth ₹184 Cr In Bulk Deal

Business

Qualcomm Ventures sold 75 lakh shares of Shadowfax in a block deal worth ₹183.85 crore on August 23, priced at ₹245.13 per share. This divestment follows similar large-scale share sales by TPG, Flipkart, and Eight Roads. Shadowfax, a logistics firm serving e-commerce and quick commerce sectors, is currently expanding its fulfillment infrastructure and plans to increase its dark store network to 100 by FY27.

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Source: inc42

Khosla Ventures-Backed Healthify Merges With US-Based Berry Street

Business

Healthify has merged with US-based Berry Street to establish an AI-powered, insurance-covered metabolic health platform in the US. This strategic merger grants Healthify access to Berry Street’s clinical network and insurance infrastructure, bolstering its expansion into the US market and GLP-1-led metabolic care. Healthify founder Tushar V.

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Source: inc42

slice Adds Former SBI, ICICI Bank Executives To Its Board

Business

slice Small Finance Bank has appointed former SBI chief general manager Samir Sawhney as executive director and former ICICI Bank executive Ramesh Kumar as an independent director. Both appointments received board approval, with the RBI also approving Sawhney. These strategic additions follow the bank's merger with North East Small Finance Bank. Financially, the bank reported a Q1 FY27 profit of ₹50.9 crore, marking a significant turnaround from a previous loss.

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