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Source: inc42

Atomberg Gets Board Nod To Raise Over ₹450 Cr Via IPO

Business

Atomberg, a D2C consumer appliance startup, has received board approval to launch an IPO of up to ₹450 crore, consisting of fresh equity and an offer for sale. The company also approved a pre-IPO funding round of up to ₹90 crore, which will reduce the IPO's fresh issue size. Atomberg, known for energy-efficient fans, reported FY25 operating revenue of ₹958.4 crore and a 41% reduction in net losses.

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Source: inc42

UPI In July: Navi Gains Market Share As PhonePe, Google Pay Slip Marginally

Business

"In July, India's UPI market saw Sachin Bansal's Navi increase its market share to 4%, while leaders PhonePe and Google Pay experienced marginal declines to a combined 78.6%. Overall transaction volume rose 4% to 23.66 billion, with total value increasing 3% to ₹29.88 lakh crore. Additionally, Parliament approved a bill enabling merchant discount rates on select transactions, although person-to-person payments will remain free for users.".

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Source: inc42

Table Space DRHP: A Look At Shareholding Pattern & Key Executives

Business

Managed workspace provider Table Space has filed its DRHP with SEBI for an IPO, proposing a fresh issue of up to ₹800 crore and an offer for sale of 6.5 crore shares. Hillhouse Investment-backed AGS TS II Holdings is the largest shareholder with a 41.76% stake. The company's cap table includes a disputed 22.14% stake from late promoter Amit Banerji, while FY26 revenue grew 66% to ₹2,262.3 crore.

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Source: inc42

Snabbit Ropes In Klydo Cofounder Pradeep Yadav To Helm Operations

Business

Quick home services startup Snabbit has appointed Pradeep Yadav, co-founder of Klydo and former Udaan CXO, as its new head of operations. Yadav succeeds Vikas Choudhary, who will now lead a new business venture within the company. Snabbit, which recently raised $56 million in Series D funding, provides rapid domestic help across five major Indian cities and reports an annual revenue run rate of $35-40 million.

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Source: inc42

PhysicsWallah Jumps 9.5% After Q1 Results, JPMorgan & JM Financial Upgrade Rating

Business

PhysicsWallah shares rose up to 9.5% after JPMorgan and JM Financial upgraded the stock following strong Q1 FY27 results. Despite NEET exam disruptions, operating revenue grew 24.4% to ₹1,054 crore, while the net loss narrowed to ₹88.3 crore and EBITDA turned positive at ₹52 crore. The company plans to divest its NBFC arm and expects to achieve group-level PAT profitability by the third quarter of FY27.

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Source: inc42

Karnataka HC Quashes Sessions Court Orders To Defreeze Jar’s Accounts

Business

The Karnataka High Court quashed three Sessions Court orders that directed the release of precious metals and the defreezing of bank accounts linked to wealthtech startup Jar. The court ruled that police may debit-freeze accounts under Section 106 of the BNSS without prior judicial approval, provided they report the action immediately. This decision emphasizes that digital gold transactions remain subject to criminal law despite lacking direct RBI or SEBI supervision.

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Source: inc42

Zaggle Plunges 20% To Hit Lower Circuit After Q1 Profit Slump

Business

Zaggle shares plunged 20% to a 52-week low of ₹160.45 after the fintech company reported a 33% year-on-year decline in Q1 net profit to ₹17.5 crore. Despite a 28% rise in operating revenue to ₹423.3 crore, margins were pressured by the integration of DICE Enterprises and Zagg.Money. Consequently, Equirus lowered its target price to ₹350, although Zaggle maintains its 40% revenue-growth target for FY27.

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Source: inc42

The RDI Fund Row, PM’s I-Day Address & More

Business

The prompt asks to summarize the "news article content." Usually, this means the primary lead story, but since it's a newsletter/digest, I should focus on the main controversy regarding the RDI fund as it's the most detailed part, or provide a high-level overview of the digest. However, the lead story is the most substantial. Let's focus on the RDI fund controversy as the core "news" while acknowledging the broader context if possible, but the RDI fund is the primary focus.

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Source: inc42

Lenskart’s Scale Meets Profits

Business

"Lenskart's Q1 FY27 results show a strategic shift toward productivity-led growth, with revenue rising 34% and net profit jumping 182% to ₹228 crore. The eyewear giant is diversifying its market reach by pursuing both premiumization and a new ₹500 budget offering. Additionally, Lenskart is scaling its international business and enhancing supply-chain control through increased in-house production and data-driven store selection to improve overall operational efficiency.".

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Source: inc42

RDI Fund Row: Deeptech Investors Seek More Transparency, Independent Oversight

Business

India's ₹1 Lakh Cr Research, Development and Innovation (RDI) fund faces scrutiny after 15 of 22 companies in its first ₹2,192 Cr allocation were linked to selection committee members. These companies received 62% of the funds. While the government maintains that conflict-of-interest safeguards were followed, investors warn that a lack of transparency could favor established networks and undermine trust in government-backed deeptech capital.

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Source: inc42

Can Astrotalk Chart A Future Beyond Astrology?

Business

Astrotalk has become India's 133rd unicorn through an internal ESOP buyback rather than external funding. The company's operating revenue surged from ₹283 crore in FY23 to ₹1,176 crore in FY25. As it prepares for an IPO, Astrotalk is diversifying its core astrology consultation business into e-commerce via the Astrotalk Store and expanding internationally, particularly in the US, to drive future growth and valuation.

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Source: inc42

Ola Electric Unveils Three New Energy Storage Products

Business

Ola Electric has launched three new battery energy storage systems: the residential Ola Shakti Gen 2, the industrial Shakti Rack, and the utility-scale Mahashakti. Utilizing in-house 4680 Bharat lithium-ion cells, these products aim to diversify revenue streams and increase Gigafactory utilization. Residential variants are priced from ₹99,000, with deliveries starting in November 2026, while industrial solutions are expected by March 2027 to bolster the company's energy portfolio.

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Source: inc42

IPO-Bound Zypp Electric Slashes FY26 Loss By 45% YoY To ₹60 Cr

Business

EV logistics startup Zypp Electric significantly reduced its consolidated net loss to ₹59.7 crore in FY26, a 44.4% decrease from the previous year. Operating revenue grew 5.2% to ₹461 crore, driven largely by a 24% increase in EV rental income. As the company prepares for a $200 million IPO within the next 22 months, it continues to optimize costs while expanding its battery-swapping infrastructure.

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Source: inc42

Turtlemint Jumps 23% To Lead Weekly Gains In New-Age Tech Stocks, Veefin Biggest Loser

Business

New-age tech stocks experienced significant divergence this week, driven by Q1 FY27 earnings and business updates. Turtlemint led the rally with a 22.64% gain, while Veefin Solutions saw the steepest decline of 13.76%. Overall, 30 stocks rose and 29 fell, with the combined market capitalization reaching $162.73 billion. Meanwhile, the broader Indian market declined due to geopolitical tensions and rising crude oil prices affecting investor sentiment.

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Source: inc42

CRED-Backed NewTap Finance’s FY26 Profit More Than Doubles To ₹2.4 Cr

Business

CRED-backed NBFC NewTap Finance reported a net profit of ₹2.4 crore in FY26, more than doubling its previous year's earnings. Total income surged 116% to ₹259 crore, while assets under management reached ₹4,582 crore, with 81% held off-book through co-lending partnerships. Despite gross Stage 3 assets increasing to 0.94%, the lender maintained a collection efficiency over 97%, primarily serving high-credit-score borrowers via the CRED platform.

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Source: inc42

EaseMyTrip Slips Into Red With ₹11.7 Cr Loss In Q1; Revenue Rises 18% YoY

Business

EaseMyTrip reported a consolidated net loss of ₹11.7 crore in Q1 FY27, compared to a profit of ₹44 lakh in the previous year. Despite an 18.4% year-on-year increase in operating revenue to ₹134.7 crore, total expenses surged by 29.8%. Growth was driven by hotel packages and Dubai operations, while air revenue declined. Gross booking revenue rose 14.8% to ₹2,371 crore as the company pursues its Vision 2030 strategy.

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Source: inc42

IPO-Bound Zetwerk’s FY26 Loss Widens To ₹1,606.2 Cr Despite 40% Uptick In Revenue

Business

Zetwerk, a full-stack contract manufacturer, reported a widened net loss of ₹1,606.2 crore for FY26, despite a 40.4% increase in operating revenue to ₹15,913.3 crore. The company's restated loss improved to ₹41.1 crore. Preparing for an IPO, Zetwerk plans a ₹2,600 crore fresh issue to repay borrowings and fund acquisitions. The firm operates over 26 facilities globally, serving major clients like Siemens Gamesa and Acer India.

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Source: inc42

PM Modi Bets On Tech To Empower Youth With AI Skilling, Online Coaching

Business

During his 80th Independence Day address, Prime Minister Narendra Modi announced free online coaching for competitive exams and AI training for 10 million youth over the next year. He highlighted India's semiconductor progress, with three plants active and more coming soon. Additionally, Modi introduced the "Sapta Dhara" roadmap, focusing on manufacturing, technology, and innovation to transform India into a developed nation by 2047.

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Source: inc42

AI Startups To Watch: 5 Startups That Caught Our Eye In August

Business

India's AI sector is evolving beyond general foundation models toward specialized infrastructure and domain-specific applications. Supported by the ₹10,300 Cr IndiaAI Mission and surging investment, startups are now tackling real-world deployment. Five emerging ventures—Clairva, Coreworks, eNLife Research, Kalpnk, and UpKraft—exemplify this shift, focusing on physical-world data, business intelligence, healthcare, filmmaking, and education to build a self-reliant, globally competitive AI ecosystem tailored to Indian needs.

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Source: inc42

From Yulu To Discovered Materials — Indian Startups Raised $140 Mn This Week

Business

Indian startup funding activity remained muted in the second week of August, even as astrology platform AstroTalk joined the unicorn.

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