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Source: inc42

Tiger Global Offloads Entire Stake In OTT Platform The Viral Fever

Business

Tiger Global has fully exited The Viral Fever (TVF), selling its stake to Lighthouse India Fund-I, Frontier Globecap Ventures, and LC Nueva Advisors. The deal values the digital content studio at $22 million, a 73% drop from its 2019 valuation of $82 million. This exit coincides with leadership changes at TVF and a broader industry trend of reduced spending and fewer original productions across India's OTT streaming ecosystem.

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Source: inc42

Can Zepto’s Revenue Engine Outrun Quick Commerce Costs?

Business

Zepto, a quick commerce pioneer specializing in 10-minute deliveries, is preparing for an IPO. While the company has seen massive revenue growth, reaching ₹22,623.58 Cr in FY26, it continues to face significant net losses due to high delivery and warehousing costs. To improve profitability, Zepto is diversifying its revenue through advertising, platform services, and a shift toward a marketplace model to offset operational expenses.

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Source: inc42

Why Infra.Market Is Using Shalimar Paints To Reach The IPO Milestone

Business

Infra.Market is pivoting from a standalone IPO to a reverse-listing strategy through its listed subsidiary, Shalimar Paints. The company, valued at ₹24,620 crore, faces ₹6,057 crore in debt. To address this, Shalimar Paints has proposed a ₹10,545 crore share swap and a ₹1,000 crore qualified institutional placement. This alternative route provides a faster path to public markets and potential debt repayment amid unfavorable market conditions.

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Source: inc42

Shiprocket IPO Subscribed 25.8X So Far On Final Day Of Bidding

Business

Shiprocket’s ₹1,617.5 crore IPO saw strong demand, becoming 25.8 times subscribed by the final day of bidding. The offering, comprising a fresh issue and an OFS, received bids for 243.83 crore shares. Non-institutional investors led the surge with a 50.27x subscription, while retail and employee quotas were subscribed 28.99x and 34.46x, respectively. Allotment is expected on August 17, with listing scheduled for August 19.

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Source: inc42

ixigo To Sell 17.39% Fresh Bus Stake For ₹36.6 Cr

Business

"ixigo's parent company, Le Travenues Technology, has agreed to sell a 17.39% stake in electric intercity bus startup Fresh Bus to Twelve Stone LLP for ₹36.6 crore. This transaction will reduce ixigo's holding from 25.66% to 8.27%, meaning Fresh Bus will no longer be an associate company. The deal is expected to close by August 30, occurring amid ixigo's broader expansion into AI and European markets.".

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Source: inc42

Uber, Rapido Held Talks To Combine India Operations, Says Report; Rapido Denies

Business

"Uber and Rapido reportedly discussed combining their Indian ride-hailing operations in May, but talks collapsed over the deal's structure. Uber proposed a combination under Rapido's management, while Rapido suggested acquiring Uber's India business. Uber rejected this, unwilling to cede control. Despite the failed talks, Uber is expanding its bike-taxi services to over 220 cities to challenge Rapido's dominance in the growing Indian mobility market.".

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Source: inc42

LEAP India Shares List At 4.4% Premium To Issue Price Of ₹159

Business

LEAP India debuted on the BSE and NSE at a 4.4% premium over its ₹159 IPO price, reaching a market capitalization of approximately ₹7,011 crore. The ₹2,480 crore public issue was oversubscribed 8.38 times. Specializing in tech-enabled supply chain solutions, the company reported strong FY26 growth, with net profit rising 66% to ₹62.3 crore and operating revenue increasing 56.4% to ₹729.5 crore.

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Source: inc42

Razorpay’s ChatGPT Gambit, Snapchat’s Next Big Quest & More

Business

The primary focus of the text is Razorpay's move into AI commerce. However, it's a news roundup. A professional summary of a roundup should either focus on the lead story or touch upon the major highlights. Given the structure, the Razorpay story is the most detailed. But since it's a collection of news, I should try to capture the essence of the main story and perhaps mention the other business updates.

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Source: inc42

Can Razorpay Turn ChatGPT Into India’s Next Commerce Channel?

Business

Razorpay is developing AI-native commerce infrastructure enabling merchants to create storefronts and complete transactions directly within AI interfaces like ChatGPT. By integrating NPCI’s UPI Reserve Pay and UPI Circle, the company allows seamless, secure checkouts without leaving the chat. Currently piloting with 50 brands and 200 businesses on its Agent Studio, Razorpay aims to simplify AI-led customer acquisition and product discovery for digital-first brands.

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Source: inc42

Rapido Bags Karnataka Cab Aggregator Licence Till 2031

Business

Rapido has obtained a cab aggregator license from the Karnataka government, valid until August 2031, allowing the mobility unicorn to operate four-wheeler services legally across 21 cities. While the company has joined the state's Urban Mobility Mission and reported revenue growth to ₹934.4 crore in FY25, its bike taxi operations continue to face regulatory scrutiny and safety concerns from local authorities and the Supreme Court.

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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

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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