The diversified Tata Group touches every online shopper with existing consumer brands and the attempt of Tata Digital will be to bring together all the assets under a single value proposition, the new outfit’s president Mukesh Bansal said on Wednesday. The group — which will be competing head on with Mukesh Ambani’s digital business, Amazon … Read more
Nykaa’s promoters have successfully been able to change the Article of Association (AoA) to give themselves special powers. What are the powers? As per the previous AoA, the promoter group had the right to nominate up to 50% of the directors on the board if they held in excess of 25% of the company’s paid-up … Read more
The founders Yashish Dahiya and Alok Bansal are together selling 2.3% of their stake into the Company. Key points to note – After sale, the founders’ cumulative stake will reduce from 10.33 % to 8.01% percent on a fully diluted basis. Sale will be executed on February 11, 2022 through block deal. Expected realisation from … Read more
Amazon reported Thursday that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labor shortages. The Seattle-based online behemoth also said it is raising its annual prime membership fee in the US to $139 per year from $119. … Read more
Moglix, the industrial business-to-business startup for manufacturing, has raised $250 million in its latest Series F funding round, at a valuation of $2.6 billion. This investment was led by Tiger Global and Alpha Wave Global with Hong Kong based-investment firm Ward Ferry coming on board as a new investor. In 2019, Moglix was the … Read more
Zomato continues to make more investments into start-ups/ emerging companies. 1. Rs 112.2 crore for 19.48% into Adonmo Private Limited Founded in 2016, Adonmo is focused on outdoor digital advertising. The Company reported a revenue of Rs 3.3 crore in FY 21. Investment by Zomato is cash consideration and values Adonmo at Rs 576 crore. … Read more
Food delivery platform Swiggy on Monday announced that it raised $700 million in a new funding round led by Invesco. The funding round saw participation from new investors such as Baron Capital Group, Kotak, among others. Swiggy said existing investors like Alpha Wave Global, Qatar Investment Authority, Ark Impact, Prosus also participated in the round. Economic … Read more
From Plc to Colgate-Palmolive Co., consumer goods makers in India are facing distribution blues that have nothing to do with pandemic-induced shortages and bottlenecks. The trusted middlemen that brands have traditionally relied on to reach millions of small neighborhood stores in 8,000 towns and 660,000 villages are in revolt. It’s a mutiny that the multinationals … Read more
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries is investing $200 mn (approx Rs 1,500 crore) into Dunzo, a hyperlocal delivery new age business. Key points to note – $200 mn is part of the $240 mn round, wherein balance $40 mn is contributed by Dunzo’s existing investors including Lightbox, Lightrock, 3L Capital … Read more