Food delivery and quick commerce platform Swiggy has announced key leadership changes, including the exit of co-founder Nandan Reddy and the elevation of senior executives to its board. Nandan Reddy Steps Down Nandan Reddy will step down from Swiggy’s board and exit the company to pursue independent ventures. He had most recently been leading Crew, Swiggy’s concierge app. Following his departure, the Crew business will now be overseen by Rohit Kapoor, CEO of Swiggy’s food marketplace. Board Elevations Swiggy has elevated: Both have been appointed as Executive Directors on the company’s board. Kishan has been instrumental in driving Swiggy’s business…
Author: Adarsh Kumar
The Asian Development Bank (ADB) has raised India’s GDP growth forecast for FY27 to 6.9%, up from its earlier estimate of 6.5%, citing strong domestic demand, easing financing conditions, and lower US tariffs on Indian goods. For FY28, ADB expects India’s economy to grow even faster at 7.3%, driven by domestic reforms, trade gains, and stronger consumer spending. Growth Outlook Remains Strong According to ADB’s latest Asian Development Outlook report: ADB noted that India’s economic resilience continues despite a worsening global geopolitical environment. Key Drivers Behind Higher Growth India’s improved outlook is being supported by: ADB expects domestic reforms and…
The Reserve Bank of India (RBI) has proposed a new security measure that could introduce a mandatory one-hour delay for UPI and IMPS fund transfers above ₹10,000, aimed at reducing rising digital payment fraud in India. What the RBI Proposal Says In its recently released discussion paper, the RBI suggested that: This means regular shopping and merchant payments should continue without interruption. Whitelisting Trusted Beneficiaries To balance convenience with security, RBI has also proposed a beneficiary whitelisting feature, allowing users to mark trusted recipients. Transfers to whitelisted accounts would bypass the cooling period. This could help frequent users avoid delays…
The Open Network for Digital Commerce (ONDC) has appointed Vibhor Jain as its new Managing Director and Chief Executive Officer, effective April 7, 2026. Jain had earlier been serving as ONDC’s Chief Operating Officer and was acting CEO during the recent leadership transition. Full-Time Leadership Transition With this appointment, ONDC formally moves into a full-time leadership structure as it enters its next phase of expansion. Jain’s elevation comes at a critical time when the government-backed digital commerce initiative is focused on scaling its interoperable network across multiple sectors. Leadership Continuity After Key Exits The appointment follows a series of leadership…
Eternal, the parent entity of Zomato, has approved a fresh Employee Stock Option Plan (ESOP) grant worth approximately ₹167 crore, according to regulatory filings. ESOP Grant Details The company has rolled out ESOPs covering 74.18 lakh equity shares, with 64.13 lakh stock options granted to eligible employees under multiple schemes: Based on the current share price of ₹224.7, the total value of the newly granted ESOPs stands at around ₹167 crore. Each stock option can be converted into one fully paid-up equity share with a face value of ₹1. Vesting and Exercise Timeline The structure reflects a long-term incentive strategy…
South Africa-based Coronation Fund Managers has increased its stake in Le Travenues Technology, the parent of travel platform ixigo, crossing the 7% ownership mark through an open market transaction. Stake Increase Details As per a regulatory filing with the Bombay Stock Exchange (BSE) dated April 1, 2026, Coronation acquired 4.75 lakh equity shares on March 30, 2026. This marks Coronation’s second stake increase in recent months, after raising its holding to around 5% in February 2026. Institutional Confidence Builds The latest move signals growing institutional confidence in ixigo’s growth trajectory. Notably, MIH Investments One B.V., a subsidiary of Prosus, had…
Grapevine, the anonymous social platform for Indian professionals, has launched tal a WhatsApp-based AI talent agent designed to change how people discover jobs. Founded three years ago, Grapevine has grown to over 1 million users, building a strong repository of real, unfiltered data around company culture, salaries, workplace experiences and market sentiment. Often described as a “Reddit for Indian professionals,” the platform has become a go-to space for candid career conversations. With tal, the company is now extending that insight layer into action. Unlike traditional job platforms such as LinkedIn and Naukri.com, which primarily optimise for recruiters and job listings,…
Online higher education platform upGrad has signed a term sheet to acquire Unacademy in an all-stock transaction, marking a major consolidation move in India’s edtech sector. The companies said the valuation will be disclosed only after the deal is completed and formally filed. The agreement comes months after earlier negotiations collapsed in January due to valuation disagreements. Share Swap Structure with Break Fee According to Ronnie Screwvala, the deal will be structured as a share swap transaction and includes a break fee clause in case the acquisition does not close. Importantly, Unacademy co-founder and CEO Gaurav Munjal will continue to…
Global hospitality company Hyatt Hotels Corporation has appointed Vikas Chawla as President for India and Southwest Asia, effective April 1. The move reflects Hyatt’s push to strengthen leadership as it expands rapidly in one of its fastest-growing markets. Chawla will report to David Udell, who leads the company’s Asia Pacific operations. In his new role, Chawla will oversee Hyatt’s regional strategy, business performance, and growth initiatives across India and Southwest Asia. A Hyatt spokesperson confirmed that the leadership change is part of the company’s broader strategy to reinforce its long-term ambitions in the region. A formal announcement with further details…
B2B food and agritech platform WayCool has raised ₹210 crore (around $22.7 million) through a rights issue from existing investor Lightrock India, marking the company’s first major equity funding in nearly four years. According to filings with the Registrar of Companies (RoC), WayCool’s board allotted 3.92 lakh equity shares to LR India Fund I S.a.r.l., SICAV-RAIF, an investment vehicle of Lightrock, at an issue price of ₹5,347 per share. Funding and Valuation The company’s current valuation has not been disclosed, though WayCool was valued at around $700 million in its last equity round. Prior to this equity raise, WayCool secured…