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Source: inc42

E2W Registrations Contract By Over 16% In August; Ola Electric’s Market Share Improves

Business

India's electric two-wheeler registrations fell 16.2% month-on-month to 1.72 lakh units in August, despite a 64% year-on-year increase. This sequential decline follows reduced government incentives, prompting major manufacturers like TVS, Bajaj, Ola Electric, and Ather to pivot toward affordable, mass-market models priced under ₹1 lakh. While TVS and Bajaj maintain market leadership, most leading OEMs recorded double-digit declines as they target the broader commuter segment.

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Source: inc42

LEAP India Q1 Profit Jumps 30% YoY To ₹25 Cr, Revenue Up 19%

Business

Recently listed logistics firm Leap India reported a 30% year-on-year increase in net profit for the June quarter (Q1 FY27), reaching ₹24.7 crore, despite an 8.5% sequential dip. Operating revenue grew 19% year-on-year to ₹203.4 crore, remaining flat compared to the previous quarter. Total income stood at ₹213.4 crore, while operating expenses rose 17% year-on-year to ₹180.5 crore, with tax expenses totaling ₹8.3 crore.

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Source: inc42

Thank You, Sponsors, For Powering Inc42’s D2C & Retail Summit 2026

Business

The D2C & Retail Summit 2026, presented by Inc42 and PhonePe, took place on August 19 in Gurugram. The invite-only event gathered over 600 founders, CXOs, and investors to discuss "Commerce In The Age Of AI & 10-Min Delivery." Featuring leaders from brands like boAt and Veeba, the summit explored D2C 3.0, quick commerce economics, and AI-driven retail strategies to help consumer brands achieve sustainable, profitable scale.

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Source: inc42

PhonePe Launches UPI Payments For Feature Phones

Business

PhonePe has launched PhonePe UPI 123Pay, enabling digital transactions for over 20 crore feature phone users without requiring an internet connection. Utilizing SMS-based architecture and GSPay technology, the service allows peer-to-peer transfers and merchant payments via QR codes. Pre-installed on devices from Nokia, HMD, Lava, and Itel, the initiative aims to expand UPI adoption in rural and semi-urban regions through a voice-first, AI-powered multilingual helpline.

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Source: inc42

Centre Notifies ₹1.28 Lakh Cr Semicon 2.0, Targets 1 Lakh More Chip Engineers

Business

The Indian government has notified the ₹1.28 lakh crore Semicon 2.0 scheme to strengthen its domestic semiconductor ecosystem. The initiative focuses on six pillars, including chip design, fabrication, packaging, and R&D, to reduce global supply chain reliance. Key goals include developing 1 lakh additional engineers and prioritizing 100 critical chips. The scheme offers seed funding for startups and fiscal support for large-scale fabrication facilities.

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Source: inc42

Ather Shares Surge 5.7% To Hit Record High After Konarc Launch

Business

"Ather Energy shares reached a record high of ₹1,703.90 following the launch of the Konarc escooter, a mass-market electric vehicle priced at ₹99,999. The new model features a range of 100 to 200 km and an advanced braking system. Consequently, Emkay Global Financial Services maintained its ‘Buy’ rating and increased its target price for the stock to ₹2,200, up from the previous ₹1,600 target.".

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Source: inc42

Zomato Lays Off 240 Employees, Shuts Hyderabad Customer Support Operations

Business

Zomato has laid off approximately 240 employees as it shuts down its customer support operations in Hyderabad. The company is shifting toward external partners and consolidating remaining in-house support in Gurugram to better align with its technical functions. Affected staff will receive four months' pay and extended benefits. This restructuring occurs amid increased automation and heightened regulatory scrutiny regarding food safety and hygiene across the delivery sector.

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Source: inc42

Pernia’s Pop-Up Parent IPO: Issue Subscribed 8% On Day 1 Till Now

Business

Purple Style Labs, the parent company of Pernia’s Pop Up Shop, saw a subdued start to its IPO, with only 8% subscription on the first day. The fresh issue of shares, valued up to ₹680 crore, closes on September 2 and lists on September 7. Proceeds will fund lease liabilities and marketing. Despite a 14% revenue increase, the company's consolidated net loss widened to ₹285.4 crore in FY26.

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Source: inc42

Zomato Bans Sale Of Analogue Dishes On Its Platform

Business

Zomato has implemented a zero-tolerance policy banning dishes containing analogue dairy products, which use vegetable oils and starches to mimic real dairy. The company has already removed such items and warned restaurant partners that non-compliance will lead to delisting. This move aims to enhance food quality and transparency amid increased regulatory scrutiny of delivery platforms, following recent food safety violations uncovered by the Maharashtra Food and Drug Administration.

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Source: inc42

State Street Closes ₹580 Cr Investment In Groww AMC

Business

"State Street Investment Management has completed a ₹580 crore strategic investment in Groww AMC, valuing the business at approximately ₹2,500 crore. State Street now holds a 23% economic interest with 4.85% voting rights. This partnership allows Groww to leverage State Street’s global expertise in ETFs and index funds to scale its asset management platform and expand its passive investment offerings and global market access.".

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Source: inc42

Truemeds Eyes DealShare Acquisition At $90 Mn, 95% Below Peak Valuation: Report

Business

"Online pharmacy Truemeds is reportedly in advanced talks to acquire ecommerce startup DealShare through a share-swap transaction. DealShare is valued at approximately $90 million, a significant drop from its 2022 peak of $1.7 billion. The deal, potentially valuing Truemeds at $600 million, allows Truemeds to access DealShare's cash reserves and distribution network in smaller cities to support its expansion plans following DealShare's business contraction.".

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Source: inc42

NPCI To Let Users Port UPI AutoPay Mandates Across Apps: Report

Business

The National Payments Corporation of India (NPCI) plans to make UPI AutoPay interoperable, allowing users and merchants to port mandates across different apps and payment providers. This move, expected to be announced at the Global Fintech Fest, aims to reduce the dominance of major payment apps and simplify subscription management. Additionally, NPCI is developing a common infrastructure for UPI soundboxes to reduce hardware duplication for merchants.

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Source: inc42

ESDS IPO Subscribed 8X On Day 2, NII Portion Booked 22X

Business

ESDS Software Solution’s ₹720 crore IPO was subscribed 8.08 times by the second day of bidding, driven by strong demand from NIIs and retail investors. While NIIs booked 22 times and retail 6.72 times, QIB participation remained muted at 0.04 times. The company, seeking a valuation of ₹5,028 crore, plans to use ₹576 crore for cloud and AI infrastructure expansion. Shares are expected to list this Friday.

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Source: inc42

YOGa Bags ₹20 Cr From Info Edge, Others To Scale Clean-Air Solutions

Business

Clean tech startup YOGa Clean Air has raised ₹20 Cr in its first external funding round, led by Info Edge Ventures with participation from Deepinder Goyal and Three Words Capital. The company plans to use the capital to expand into new Tier I and II cities and deploy its air-quality systems on public transport. YOGa focuses on a service-led model, targeting B2B growth in real estate and institutions.

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Source: inc42

Bira 91 Faces Fresh Insolvency Threat Over ₹11.8 Cr Dues

Business

Hindusthan National Glass & Industries Ltd has served a default notice to B9 Beverages, the parent company of Bira 91, seeking ₹11.77 crore for unlifted customized bottles. The glassmaker may initiate insolvency proceedings if dues aren't cleared within ten days. This threat follows a severe financial crisis for the brewer, which faces roughly ₹1,000 crore in liabilities and is currently seeking recapitalization to restart its operations.

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Source: inc42

Meta’s Double Standards, Weekly Funding Rundown & More

Business

Meta agreed to pay $18 billion to settle US lawsuits over minor safety, introducing strict usage limits and feature changes for American teens. However, these protections do not extend to India, prompting experts to call for similar safety baselines globally. Meanwhile, Indian startups raised $210.3 million last week, Ather launched the Konarc scooter, and Ola Electric received ₹95.81 crore in government incentives under the PLI scheme.

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Source: inc42

Purple Style Labs Asks For A Luxury Premium

Business

Purple Style Labs, parent of Pernia’s Pop-Up Shop, will launch a ₹680 crore IPO on August 31, 2026, valuing the company at approximately ₹4,600 crore. Despite widening FY26 losses of ₹285.4 crore, the firm is pivoting toward a premiumisation strategy, focusing on high-value designers and customers. Proceeds will primarily fund lease liabilities and marketing as the omnichannel luxury platform seeks a sustainable financial model through scaled physical stores.

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Source: inc42

New-Age Tech Stocks See Mixed Week; Ather Rallies 10%, Shiprocket Falls 9%

Business

New-age tech stocks experienced mixed results this week, with 36 declining and 26 gaining. Shiprocket was the biggest loser, falling 9.27%, while SME-listed Klassroom led gainers with a 25.2% surge. Ather Energy reached a 52-week high following additional investment from Hero MotoCorp. Despite broader market volatility and a slight dip in the Nifty 50, the combined market capitalization of covered tech companies remained stable at $166.91 billion.

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Source: inc42

Meta’s $18 Bn Settlement: Why Should Teen Safety Stop At The US Border?

Business

Meta will pay approximately $18 billion to settle US lawsuits alleging Facebook and Instagram harmed teenagers. The agreement introduces strict safeguards for US users under 18, including daily usage limits, night-time restrictions, and enhanced parental controls. However, these protections are limited to participating US jurisdictions. This has prompted calls from Indian experts and regulators for similar global standards to ensure children in India receive comparable product safety.

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Source: inc42

Ather Launches Konarc Escooter At ₹99,999, Offers Up To 200 Km Range

Business

Ather Energy has launched the Konarc electric scooter, starting at ₹99,999, to target India's mass-market segment. The scooter offers four range options between 100 km and 200 km and features a 14-inch front wheel for stability. It introduces an Advanced Electronic Braking System for increased control and includes a 450 W onboard charger. This launch coincides with rival Ola Electric introducing its new S1Z scooter range.

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