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Source: inc42

Zetwerk Files UDRHP For ₹2,600 Cr IPO

Business

Bengaluru-based startup Zetwerk has filed its updated draft red herring prospectus (UDRHP), months after the markets regulator SEBI cleared its.

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Source: inc42

Unicommerce Q1 Profit Increases 20% YoY To 4.7 Cr

Business

Ecommerce SaaS company Unicommerce reported a 20% year-on-year increase in consolidated net profit for Q1 FY27, reaching ₹4.7 crore. Revenue from contracts grew 14.3% to ₹51.4 crore, though it saw a marginal sequential dip of 0.5%. Total income for the quarter was ₹52.8 crore, while expenditures rose 19% to ₹48.2 crore. CEO Kapil Makhija attributed the growth to platform strength and momentum across Uniware and Shipway.

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Source: inc42

Fino Payments Bank Slips Into Red, Reports ₹14 Cr Loss In Q1

Business

Fino Payments Bank reported a net loss of ₹13.7 crore in Q1 FY27, compared to a profit of ₹17.8 crore in the same quarter last year. Total income dropped 32.3% year-on-year to ₹306.9 crore, primarily due to a 40.2% decline in fee and commission-based income. Despite an 18.4% rise in interest income and a 25.2% reduction in total operating expenditures, the bank slipped into the red.

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Source: inc42

FirstCry Q1: Loss Narrows 35% YoY To ₹44 Cr, Revenue Up 13%

Business

Kidswear brand FirstCry reported a narrowed net loss of ₹44 crore for the June quarter, reflecting a 35% year-on-year and 9% sequential decrease. The company's operating revenue grew 13% year-on-year to ₹2,106.2 crore, despite a 3% sequential dip. Total income reached ₹2,153.1 crore, while total expenses, excluding depreciation and amortisation, rose 12% year-on-year to ₹2,046.6 crore during the same period.

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Source: inc42

Navi To File For ₹3,000 Cr IPO By December: Report

Business

"Fintech unicorn Navi is reportedly planning to file for a $314 million IPO by December this year, consisting of a fresh issue of shares. The company has appointed advisers including Goldman Sachs and JPMorgan for the offering. This move follows the shelving of previous listing plans in 2022. While Navi has not officially confirmed the reports, the move aligns with a broader trend of Indian tech startups seeking public listings.".

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Source: inc42

Inside L&T Vyoma’s Plan To Build India’s AI Infrastructure Giant

Business

Larsen & Toubro (L&T) is consolidating its data centre, cloud and AI infrastructure businesses under newly incorporated subsidiary Vyoma.AI as.

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Source: inc42

How $303 Mn Bluetile Acquisition Complicates Nazara’s Growth Story

Business

Nazara Technologies is acquiring Bluetile Games and BestPlay for $303 million, with $214 million due by April 2027. The company faces funding challenges amid rising user acquisition costs and a recent quarterly net loss. Raymond Stauffer, founder of Bluetile, will become CEO and invest ₹583 crore personally. This transition occurs as founder Nitish Mittersain prepares to step down as CEO by September 2026.

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Source: inc42

Honasa Q1 Profit More Than Doubles To ₹90 Cr, Revenue Up 27% YoY

Business

Honasa Consumer, the parent company of Mamaearth, reported its highest-ever quarterly net profit of ₹90.4 crore in Q1 FY27, marking a 119% year-on-year increase. Operating revenue grew 27% to ₹755.9 crore during the same period. The company also saw sequential growth, with net profit rising 30% and revenue increasing 15% from the previous quarter, driven by strong revenue growth and improved operating leverage across its business.

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Source: inc42

Snapchat Has Gen Z’s Attention In India; It’s Time To Monetise Now?

Business

Snapchat India is shifting its advertising focus from simple Gen Z reach to capturing the purchase-validation loop. With a ten-fold increase in advertisers and tripled spending, the platform is attracting traditional brands alongside online-first companies. By leveraging AI and its close-knit communication model, Snapchat aims to convert high user engagement into measurable performance and ROI, moving beyond discovery to influence final purchase decisions.

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Source: inc42

Mirae Asset Venture Investments Marks First Close Of Fund II At ₹1,125 Cr

Business

Mirae Asset Venture Investments (MAVI) India has achieved the first close of its second fund, Mirae Asset Venture Opportunity Fund II, at ₹1,125 Cr. With a target corpus of ₹1,800 Cr, the fund focuses on Series B to Series D startups across AI, SaaS, deeptech, and consumer tech. The Mumbai-based firm aims to support high-growth Indian businesses that have achieved product-market fit and are scaling operations.

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Source: inc42

Exclusive: Former Dyson India Boss Ankit Jain Bags Funding From BEENEXT For New Venture

Business

"Former Dyson India MD Ankit Jain has launched a stealth startup focused on premium consumer appliances, securing pre-seed funding from Singapore-based BEENEXT. Jain, who previously led Dyson's operations in India and the Middle East, enters a competitive market where innovative brands challenge legacy makers. India's household appliances sector is expanding rapidly, projected to reach $33.63 billion by 2030, driven by rising disposable incomes and smart technology adoption.".

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Source: inc42

Bluehill.VC Marks Final Close Of ₹400 Cr Maiden Frontier Tech Fund

Business

Early-stage VC firm Bluehill.VC has closed its maiden ₹400 crore frontier tech fund, featuring a ₹50 crore greenshoe option. Backed by SIDBI, state governments, and various private investors, the fund targets 15-16 seed to Series A startups in sectors like semiconductors, defence, and energy. With average initial investments of $1-2 million, Bluehill.VC aims to leverage India's growing deeptech momentum and supportive government policies for advanced manufacturing.

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Source: inc42

D2C Brand Scrubsy Nets $3 Mn To Expand Home Cleaning Offerings

Business

D2C home-cleaning startup Scrubsy has raised ₹27 Cr ($3 Mn) in a seed round led by V3 Ventures. The Delhi NCR-based company specializes in foam-based cleaning products designed to reduce scrubbing time. Scrubsy plans to use the funding to expand into car and laundry care. Having acquired over 5 lakh customers, the EBITDA-positive startup aims for ₹100 Cr in annual recurring revenue by FY28.

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Source: inc42

Centre Directs Ride-Hailing Platforms To Take Down ‘Advanced Tipping’ Prompts

Business

The Ministry of Road Transport and Highways has ordered ride-hailing platforms like Uber and Ola to remove tipping prompts shown before or during trips. According to the Motor Vehicle Aggregator Guidelines 2025, tips may only be offered after a journey is completed. Aggregators are prohibited from suggesting that tips improve ride acceptance or waiting times, and 100% of all tipping amounts must go directly to the drivers.

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Source: inc42

Shiprocket IPO Subscribed Nearly 2X On Day 2 So Far

Business

Ecommerce enablement platform Shiprocket’s ₹1,617.5 Cr IPO was subscribed 1.97X by 12:42 IST on the second day of bidding today.

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Source: inc42

Centricity Raises ₹280 Cr To Expand Wealthtech Platform, NRI Business

Business

Gurugram-based wealthtech startup Centricity has raised ₹280 crore (approximately $29 million) in a funding round led by SMBC Asia Rising Fund. The investment, comprising equity and venture debt, values the company at ₹1,800 crore. Centricity intends to use the capital to enhance its technology stack and expand its B2B2C wealth-distribution platform globally. The firm currently manages over ₹15,000 crore in assets for more than 1 lakh investors.

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Source: inc42

Amagi Q1: Profit Jumps 8.6X YoY To ₹33.9 Cr, Revenue Rises 32%

Business

Amagi Media Labs reported a significant increase in consolidated net profit for the June quarter of FY 2026-27, jumping 8.6 times to ₹33.9 crore from ₹3.9 crore year-on-year. Operating revenue grew 32.4% to ₹436.9 crore, while total income reached ₹454.5 crore. Despite the annual growth, profit saw a marginal sequential decline from ₹34.3 crore in the March quarter, and total expenses rose 22.6% to ₹414.1 crore.

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Source: inc42

Lenskart Shares Jump 7% To Record High As Brokerages Raise Targets

Business

Shares of omnichannel eyewear major Lenskart jumped nearly 7% to an all-time high of ₹627.35 on the BSE today after.

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Source: inc42

IPO-Bound Infra.Market Eyes Reverse Listing Via Shalimar Paints In ₹10,440 Cr Share Swap

Business

"Shalimar Paints is considering acquiring equity shares and CCPS of Hella Infra Market, the parent company of unicorn Infra.Market, through a proposed ₹10,439.91 crore share swap. This transaction would make Hella Infra Market an unlisted material subsidiary of Shalimar Paints, providing the unicorn a reverse-listing route to public markets. The board is now reviewing the proposal to seek necessary shareholder approvals for the building materials platform.".

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Source: inc42

Astrotalk’s Unicorn Leap, Shiprocket IPO Day 1 & More

Business

AstroTalk has become India’s 133rd unicorn following an ESOP buyback valuing the platform at $1 billion. The spiritual tech startup is expanding into offline retail and international markets. Other industry news includes Shiprocket’s 97% IPO subscription, Yulu raising $93 million for electric mobility, and Lenskart’s 273% profit surge. Additionally, AI firm Cursor is opening its first Indian office, while SwishX scales its pharma AI solutions.

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