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Source: inc42

Snapdeal Parent AceVector Lists At 11.6% Discount On BSE

Business

Snapdeal parent AceVector debuted on the BSE at ₹28.30, an 11.6% discount to its ₹32 IPO price. This weak listing reduced its valuation by ₹201 Cr, despite the ₹420 Cr IPO being oversubscribed 4.93X. Fresh capital from the issue is primarily allocated for Snapdeal's marketing and technology initiatives. The company's net loss narrowed, and operating.

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Source: inc42

AceVector IPO: SoftBank Pockets ₹88 Cr, Most Selling Shareholders Book Losses

Business

AceVector, the parent company of Snapdeal, recently completed a ₹420 crore IPO, valuing the firm at ₹1,741 crore. The offering provided mixed exits for investors; while SoftBank-backed Starfish I Pte Ltd received ₹88.3 crore, individual shareholders like Kenneth Stuart Glass saw multi-bagger returns. The company plans to use fresh capital for marketing and technology. Financially, AceVector reported narrowed losses and a 29.2% increase in operating revenue.

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Source: inc42

Startup Funding Crawls Up 5% YoY To $2.2 Bn In Q3 As Investors Get Picky

Business

Indian startups raised $2.2 Bn in Q3 2026, a 5% YoY increase, despite declining deal counts and active investors. Growth stage funding surged 38%, while AI, deeptech, and cleantech attracted strong interest. M&A activity rose 69% YoY, and six new tech companies went public, providing investor liquidity. Bengaluru led funding with over $1.4 Bn, and two startups achieved.

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Source: inc42

Apple Pay Launches In India, Partners With Axis Bank

Business

Apple Pay has launched in India, with Axis Bank as its first banking partner. The service initially supports Visa and Mastercard credit cards issued by Axis Bank, allowing iPhone, iPad, and Apple Watch users to make payments in apps, online, and at contactless stores. Payment infrastructure providers like Juspay and Cashfree are facilitating its rollout across various merchant networks, with Mac support expected soon.

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Source: inc42

Will Amend IT Rules To Bar Under-18s From Social Media: Centre To SC

Business

The Centre informed the Supreme Court it plans to amend IT Rules, prohibiting individuals under 18 from opening social media accounts. Solicitor General Tushar Mehta argued that agreements with minors are void, emphasizing the need to protect children from online risks. This move, prompted by an NGO petition, would place India among nations tightening social media access for youth, with an 18-year threshold being notably higher than most international standards.

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Source: inc42

AceVector IPO Oversubscribed 2.59X On Day 3 So Far

Business

AceVector's ₹420 Cr IPO was oversubscribed 2.59X, driven by strong demand from non-institutional investors (NIIs) at 4.11X. Qualified institutional buyers (QIBs) and retail investors also significantly oversubscribed their quotas. The Snapdeal parent's shares are tentatively scheduled to debut on the BSE and NSE on October 5. Proceeds will fund Snapdeal's marketing, technology, and.

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Source: inc42

PB Fintech Sheds Over ₹34K Cr In M-Cap In 3 Sessions, Turtlemint Loses ₹1,549 Cr

Business

PB Fintech and Turtlemint lost over ₹35,705 Cr in market cap after IRDAI proposed new product-level commission caps for insurance distributors. The regulatory changes could significantly pressure commissions, customer acquisition costs, and earnings for digital insurance firms. Jefferies estimates a 10% cut in new-business commissions might reduce earnings by 10-12%. Stakeholder comments.

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Source: inc42

True North Acquires Minority Stake in IPO-Bound InMobi

Business

True North has acquired a 2-3% minority stake in adtech unicorn InMobi for $50-60 million, primarily through secondary share purchases. This transaction allowed some early investors a partial exit as InMobi gears up for its anticipated $1 billion IPO. The SoftBank-backed company, which provides marketing and monetization solutions, is redomiciling to India and preparing for its public debut, with a valuation reportedly sought around $6-10 billion.

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Source: inc42

Dextr AI Raises $6.7 Mn To Build AI Agents For Hospitality Industry

Business

Hospitality AI startup Dextr AI secured $6.7 Mn in seed funding, led by Elevation Capital and Foundation Capital. The capital will fuel product development, hiring, and global expansion, including India. Dextr AI automates tasks like reservations, guest management, and staffing for hundreds of hospitality properties, processing over 1 million interactions monthly. This investment extends Elevation's focus on AI-led business automation.

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Source: inc42

[Update] Ola Electric To Seek Board Nod For Proposed Rights Issue

Business

Ola Electric will seek board approval on September 28 for a proposed rights issue of equity shares to raise capital. This follows an earlier board nod for a ₹1,500 Cr fundraise, with the rights issue aiming to include all eligible shareholders. The EV.

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Source: inc42

FSSAI Penalises Amazon, Flipkart, Instamart Over Regulatory Non-Compliance

Business

The FSSAI has penalised major quick commerce and e-commerce platforms, including Amazon, Bigbasket, Flipkart, Swiggy Instamart, and Zepto. Actions stem from food safety and regulatory non-compliances, such as misbranding, misleading claims, and the sale of prohibited or poisonous food articles like Datura seeds. This follows increased scrutiny and dark store inspections, highlighting widespread violations across the sector.

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Source: inc42

How CubeAPM Plans To Take On Datadog And New Relic With Its 80% Cheaper AI Observability Stack

Business

CubeAPM, founded by Vineet Chirania and Vijay Aggarwal, is a bootstrapped observability platform challenging incumbents like Datadog and New Relic. By utilizing a self-hosted architecture and proprietary compression, it reduces monitoring costs by 60-80% while ensuring data residency. The profitable startup currently serves 50 enterprise clients, generating $1.5 million in annual recurring revenue, and is integrating AI-powered troubleshooting to capture a growing global market.

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Source: inc42

With UPI MDR Clarity, PhonePe Eyes IPO By March 2027

Business

Walmart-backed PhonePe is reviving its IPO plans, targeting a public listing between February-March 2027, seeking a $10 billion valuation. This follows the new UPI Merchant Discount Rate (MDR) framework, which offers clarity on monetizing its core payments business after years of zero MDR. The framework applies a 0.4% MDR on merchant payments above ₹2,000, while most transactions remain free. PhonePe's CEO welcomed the change for ecosystem reinvestment.

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Source: inc42

VerifAIX Bags $5 Mn To Scale AI-Based Chip Verification Platform

Business

AI-native semiconductor verification startup VerifAIX has raised $5 million in seed funding, co-led by Endiya Partners and Bluehill VC. The capital will advance its verification technology, expand customer deployments, and grow engineering teams across the US, India, and Israel. VerifAIX addresses the critical need to independently verify AI-generated chip designs, ensuring they meet original specifications by combining AI-based reasoning with rigorous formal verification through its "Formal Brain" platform.

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Source: inc42

SEBI Greenlights Lending Tech Startup Fibe’s ₹750 Cr+ IPO

Business

SEBI has cleared the IPO proposal for Fibe parent Social Worth Technologies, paving the way for the lending tech startup's public listing. The IPO includes a fresh issue of shares worth up to ₹750 Cr and an offer-for-sale of over 4 Cr shares. Fibe plans to invest ₹562.6 Cr in its NBFC arm. This approval.

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Source: inc42

Flam Bags $40 Mn To Offer Immersive Content To Enterprises

Business

Flam, an AI-powered content platform, has raised $40 Mn in Series B funding led by QED Investors, with participation from Shah Rukh Khan's family office and other investors. The capital will be used to ramp up R&D in AI models, expand its product suite, and accelerate enterprise sales in existing and new markets. This funding round occurs as mixed reality gains traction,.

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Source: inc42

Kids’ Nutrition Brands Face A Familiar Struggle

Business

Indian D2C brands are transforming the kids' food market by enhancing familiar foods with better nutrition to appeal to both children and health-conscious parents. While many urban parents are willing to pay a premium, brands face challenges including high ingredient costs, manufacturing hurdles, and regulatory scrutiny from the FSSAI over misleading claims. Long-term success depends on balancing taste with proven nutritional benefits to ensure repeat purchases.

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Source: inc42

Apple’s Siri AI Gambit, Moneyview Trims IPO Size & More

Business

Apple launched Siri AI with iOS 27, though advanced features are limited to premium devices with potential future subscription fees. Meanwhile, Moneyview halved its IPO size, and InsuranceDekho faces leadership changes. Lenskart expanded its stake in AjnaLens for smart glasses, while the RBI proposed new cyber safety protocols. Additionally, Google selected four Indian startups for its AI accelerator, and Saubha Aerial Systems developed drone parachute recovery systems.

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Source: inc42

Fintech Stocks Rally On Report Of 40 Basis Point MDR On UPI, Paytm Touches 52-Week High

Business

Fintech stocks, including Pine Labs, Mobikwik, AvenuesAI, and Paytm, rallied significantly following reports that Merchant Discount Rate (MDR) fees on UPI transactions could soon be notified. The proposed 40 bps MDR for P2M transactions, with third-party apps receiving around 12 bps, is expected to unlock a substantial ₹5,000-10,000 Cr revenue stream for payment.

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Source: inc42

Paris Panini Parent Popo Global Raises ₹532 Cr From Artal Asia

Business

"Bengaluru-based restaurant company Popo Global, operator of brands like The Pizza Bakery, Paris Panini, and Smash Guys, has raised ₹532 crore from Artal Asia. Founded in 2017, the company currently operates 41 outlets in Bengaluru. Popo Global intends to use the investment to scale its portfolio of gourmet food brands across India, leveraging a model that blends quick-service convenience with a fine-dining customer experience.".

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