Friday, November 8, 2024

Trends

Blinkit best positioned to benefit from quick commerce growth; Zomato PT raised to INR 353: CLSA

News
Brokerage firm CLSA anticipates that the gross order value of major quick commerce players like Blinkit, Zepto, and Swiggy Instamart will reach $10 billion by the financial year 2025-26 (FY26). Blinkit, Zepto, Instamart to Lead Market: "We expect...

Hindustan Composites acquires 0.01% stake in Swiggy for INR 5.175 Cr

News
Hindustan Composites, a listed auto ancillary company, has signed a share purchase agreement to acquire a stake in IPO-bound foodtech giant Swiggy for INR 5.175 crore. Deta͏ils͏ o͏f the Transaction: In a BS͏E fil͏ing, th͏e listed͏ co͏mpany ͏announced...

Dabur, Jubilant Group in talks for major stake in Coca-Cola’s Indian bottler HCCB

News
The Burman family of Dabur and promoters of Jubilant Group, the Bhartias, are close to finalising separate deals to acquire a 40% stake in...

Zomato issues 38.72 lakh equity shares under ESOP plans

News
Zomato, the foodtech giant, has allocated 38.72 lakh equity shares under its employee stock option plans (ESOPs). In an exchange filing on Thursday (August 29),...

Bollywood icon Amitabh Bachchan’s family office acquires minor stake in Swiggy

Startups
High-net-worth individuals are increasingly turning to public markets-bound new-age firms, particularly quick-commerce companies, as their top investment picks. The family office of Bollywood superstar Amitabh...

BigBasket shifts focus to quick commerce with BB Now, aims for rapid 10-30-minute deliveries

News
Tata-owned BigBasket, the largest e-grocer known for its slotted deliveries, is transitioning into a full-scale quick commerce platform as the sector's rapid growth fuels...

Temasek in advanced talks for $100-150 Mn investment in Rebel Foods

Startups
Temasek, the Singaporean sovereign fund, is in advanced talks to lead a $100-150 million investment in Rebel Foods, the parent company of Faasos, Behrouz...

Swiggy targets $15 Bn valuation for its $1.2 Bn IPO

News
Foodtech giant Swiggy, last valued at $10.7 billion, is reportedly eyeing a $15 billion valuation for its $1 billion to $1.2 billion initial public...

Zomato shuts down intercity service ‘Legends’ just a month after relaunch

News
Just a month after reviving its intercity food delivery service, ‘Zomato Legends,’ Zomato founder and CEO Deepinder Goyal announced its discontinuation. ͏In a post on...

Water purifier brand Livpure secures INR 233 Cr in funding for expansion and R&D

Startups
Livpure, the Delhi NCR-based water purifier brand, has raised INR 233 crore (around $27.8 million) from London-based asset management firm M&G Investments and Ncubate...

Antfin Singapore Holding divests 2.1% stake in Zomato for INR 4,771 Cr

News
Antfin Singapore Holding divested over 2% of its stake in Zomato on Tuesday, raising INR 4,771 crore through open market transactions. Antfin Singapore Holding Pte...

Zomato to remove AI-generated food images following customer complaints

News
After numerous complaints from customers about AI-generated food and dish images on Zomato, CEO Deepinder Goyal a͏nnou͏nced ͏o͏n Sund͏ay t͏hat the ͏plat͏form will͏ r͏e͏m͏o͏ve...

Former ITC executive Sanjay Singhal appointed CEO of Wagh Bakri Tea Group

Leadership
Sanjay Singhal, the former COO of ITC, has been appointed CEO of Wagh Bakri Tea Group. Si͏nghal͏, who was pivotal in ͏IT͏C’s dairy a͏n͏d...

Blinkit launches international services for Raksha Bandhan, accepts orders from 6 countries

News
With Raksha Bandhan approaching, Zomato-owned quick commerce platform Blinkit has launched services in select overseas markets. This expansion enab͏les users abroad to send ͏rakhis...
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