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Source: inc42

Win For Apple? Govt Moves To Extend Tax Sops For Contract Manufacturers Till 2041

Business

The Indian government has proposed extending tax exemptions until 2041 for foreign electronics manufacturers providing machinery and storing parts for contract manufacturers. This move, detailed in the Taxation And Other Laws (Amendment) Bill, 2026, specifically benefits Apple by preventing the taxation of profits linked to machinery ownership. These exemptions apply only to customs-bonded areas, favoring exports as India becomes a key manufacturing hub for the company.

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Source: inc42

Nazara Slips Into The Red In Q1, Posts ₹83 Cr Loss

Business

Nazara Technologies reported a net loss of ₹82.5 crore in Q1 FY27, compared to a ₹51.3 crore loss in the same quarter last year. This follows a profit of ₹55.7 crore in Q4 FY26. Operating revenue fell 14% year-on-year to ₹428.8 crore, although it rose 7.8% sequentially. Total income reached ₹437.6 crore, while total expenses decreased by 12.6% to ₹455.4 crore during the quarter.

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Source: inc42

Govt Opens Door to MDR On UPI, To Amend Digital Payment Rules

Business

"The Indian government has proposed amendments to the Payment and Settlement Systems Act, 2007, allowing the Centre to specify which electronic payment methods remain exempt from Merchant Discount Rate (MDR) charges. This move could lead to the reintroduction of MDR on UPI transactions, potentially targeting businesses with higher turnovers. Industry leaders support the change to help fund digital payment infrastructure, innovation, and cybersecurity while maintaining zero fees for consumers.".

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Source: inc42

Spinny Converts Parent Into Public Entity Ahead Of IPO Plans

Business

"Used-car unicorn Spinny has converted its parent company, Valuedrive Technologies, into a public limited company to prepare for an initial public offering. The startup reportedly aims to raise up to $300 million and has appointed Morgan Stanley, Kotak Mahindra Capital, and Citi India as advisors. Spinny expects to file its draft red herring prospectus with SEBI soon, following a 25% revenue increase to ₹4,656.1 crore in FY25.".

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Source: inc42

After Verloop, Muskesh Bansal-Led NuPlay Eyes Another Acquisition In 12 Months

Business

Enterprise AI startup NuPlay, led by CEO Mukesh Bansal, plans another acquisition within 6–12 months to expand its global customer footprint. Backed by over $42 million in funding, the company focuses on AI agents for enterprise workflow automation, primarily targeting the retail sector. NuPlay aims for $100 million in revenue by 2029, with the US market expected to drive 80% of its business over the next few years.

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Source: inc42

MakeMyTrip Q1: Profit Slides 65% YoY To $9.1 Mn

Business

MakeMyTrip's consolidated net profit for the quarter ended June 30, 2026, fell 65% to $9.1 million, despite a 6% revenue increase to $285.6 million. The decline was driven by rupee depreciation, geopolitical conflicts affecting international travel, and higher finance costs. However, gross bookings rose 19.9% in constant currency to $2.85 billion, supported by strong domestic demand and growth in the hotel and bus ticketing segments.

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Source: inc42

Anthropic Brings Claude Inference To India As Sovereign AI Race Heats Up

Business

Anthropic is launching in-country inference for its Claude AI platform in India through Amazon Bedrock. This move allows data to remain within national borders, enabling banks and government agencies to meet strict data residency requirements. With India becoming its second-largest market, Anthropic is seeing adoption from major firms like TCS and Infosys. This strategy increases competition for domestic AI startups by removing key infrastructure advantages.

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Source: inc42

EV Components Manufacturer Matel Raises ₹130 Cr To Accelerate R&D

Business

"Pune-based cleantech startup Matel Motion & Energy Solutions has raised ₹130 crore ($13.6 million) in a Series B funding round led by UC Impower, with participation from Catamaran and Transition VC. The company plans to use the capital to expand manufacturing capacity, advance R&D, and scale hiring. Additionally, Matel aims to enter the electric commercial vehicle segment and broaden its international footprint for high-efficiency electric motors.".

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Source: inc42

Edtech NBFC Avanse’s Q1 FY27 Profit Jumps 31% YoY To ₹154.3 Cr

Business

Avanse Financial Services reported a 31% YoY net profit jump to ₹154.3 Cr in Q1 FY27, with operating revenue growing 18.4% to ₹760 Cr. This indicates resilient demand for education financing. However, the NBFC's planned ₹3,500 Cr IPO has been delayed due to global immigration policy uncertainties. Total expenses rose 15%, driven by higher finance and employee costs, while interest income remained the primary revenue driver.

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Source: inc42

How FireAI Is Helping Turn Enterprise Turn Data Into Decisions

Business

Founded in 2024 by Vipul Prakash, FireAI is a decision intelligence platform helping enterprises derive actionable business insights from fragmented data. Utilizing a multi-agent orchestration layer and over 700 data connectors, the startup enables real-time analysis and strategic decision-making. With clients like Bata and IRCTC, FireAI has reached ₹9 Cr MRR and 200 customers, focusing on explaining business drivers rather than just reporting data.

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Source: inc42

Ather Trims Q1 Loss 71% YoY To ₹51 Cr, Revenue Jumps 89%

Business

EV major Ather Energy managed to trim its net loss in the June quarter (Q1 FY27) by 71% to ₹51.1.

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Source: inc42

Battery Smart To File DRHP In September-October For IPO: Report

Business

Battery Smart, a battery-swapping startup, plans to file its DRHP with SEBI in September or October for a proposed IPO. Operating over 1,500 stations across 75+ cities, the company provides battery-as-a-service for commercial electric vehicles. Having raised over $200 million, Battery Smart reportedly achieved operational break-even in FY26 and expects annual growth of 70-80% as it expands its network across India's growing EV infrastructure market.

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Source: inc42

Flipkart To Launch Food Delivery Service By Mid-August With 10-11% Commission Model

Business

Flipkart is launching a food delivery pilot in Bengaluru by mid-August, targeting restaurant partners with a low commission model of 10-11%. This strategy aims to attract businesses dissatisfied with the higher fees charged by incumbents Swiggy and Zomato. Utilizing the Open Network for Digital Commerce, the Walmart-owned company seeks to increase user engagement across its ecosystem while adopting an asset-light marketplace approach to compete in the market.

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Source: inc42

How Elements Wellness Borrowed Eureka Forbes’ Playbook To Build A ₹1,264 Cr Wellness Brand

Business

In the early 2010s, Rajesh Chandan, then in his 30s and years before he founded IndiaShoppe in 2013, faced a.

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Source: inc42

Shiprocket IPO Likely This Month At ₹7,000 Cr Valuation: Report

Business

Shiprocket is expected to launch its IPO within two weeks at a valuation of ₹7,000 crore, approximately 30% below its previous private market valuation. The company aims to raise ₹2,342.3 crore, consisting of a ₹1,100 crore fresh issue and a ₹1,242.3 crore offer-for-sale. Proceeds will fund technology, marketing, and debt repayment. Despite the valuation dip, Shiprocket has reported improving financials, including significant reductions in net losses.

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Source: inc42

MobiKwik Posts ₹7.6 Cr Profit In Q1, Revenue Up 3.7% YoY

Business

<summary> MobiKwik reported a consolidated net profit of ₹7.6 Cr in Q1 FY27, a significant turnaround from a ₹41.9 Cr loss in the year-ago period. Sequentially, profit grew over 72%

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Source: inc42

Urban Company Jumps 18% As Morgan Stanley Bets On Core Business Growth

Business

Urban Company shares surged up to 17.7% following a Morgan Stanley upgrade to ‘Overweight’ and a target price increase to ₹165. Despite a Q1 FY27 net loss of ₹92.1 crore, revenue grew 43.9% to ₹528.3 crore. Growth was driven by strong core India services and international expansion, although aggressive investments in the InstaHelp segment led to significant losses, which the company views as strategically important.

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Source: inc42

LEAP India Files RHP For ₹2,480 Cr IPO, Seeks $735 Mn Valuation

Business

"LEAP India, a logistics tech provider, has filed its RHP for a ₹2,480 crore IPO with a price band of ₹151-159 per share. The offering includes a ₹480 crore fresh issue and a ₹2,000 crore offer for sale from promoter entities. Anchor bidding is scheduled for August 6, with the public issue open from August 7 to 11. At the upper price band, the company is valued at ₹7,004.5 crore.".

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Source: inc42

Yuvraj Singh Backs Healthians Founder’s Stealth Venture UN:BLOC

Business

Cricketer Yuvraj Singh has joined the stealth-mode healthtech startup UN:BLOC as a founder and investor. Co-founded by Deepak Sahni, the Gurugram-based venture is developing an AI-powered platform for end-to-end chronic disease management. By targeting root causes to reduce lifelong medication, UN:BLOC enters a growing Indian healthtech market projected to reach $37 billion by 2030, reflecting a broader shift toward AI-driven preventive healthcare and personalized treatment.

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Source: inc42

Zepto Stalls IPO, Weekly Funding Rundown & More

Business

Zepto has postponed its IPO until early 2027, planning a $105 million pre-IPO fundraise to reduce cash burn and optimize operations. The decision follows investor concerns over high losses and a valuation drop from $7 billion to approximately $3 billion. Meanwhile, Indian startup funding fell 32% last week, and UPI transactions grew 4% in July, reflecting a mixed landscape for the country's new-age tech sector.

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