Food delivery and quick commerce platform Swiggy has failed to secure the required shareholder approval to amend its Articles of Association (AoA) in order to qualify as an Indian-owned and controlled entity, according to reports. The proposal required a higher threshold of shareholder consent but did not receive the necessary backing during the voting process. Strategic Importance Linked to Regulatory and Business Expansion The move was considered strategically important for Swiggy as Indian ownership status could provide greater operational flexibility in sectors with foreign investment restrictions, particularly areas linked to inventory-led ecommerce and related business structures. The proposed AoA amendments…
Author: Aman Atulya
Global investment giant Capital Group has reportedly built stakes worth more than $2 billion across multiple Adani Group companies, signalling a notable shift in foreign investor preference from Reliance Industries toward the Adani ecosystem. According to reports, the Los Angeles-based asset manager has been steadily increasing its exposure to Adani firms while trimming holdings in Reliance Industries in recent months. Major Stakes Acquired in Adani Ports, Power, and Green Energy Capital Group recently acquired nearly a 2% stake in Adani Ports and Special Economic Zone through open-market transactions valued at around ₹7,486 crore ($776 million), based on BSE block deal…
AJIO, the fashion commerce platform owned by Reliance Retail, has appointed former Coupang Taiwan country head Sandeep Karwa to a leadership role, according to sources familiar with the matter. Karwa is expected to take over as CEO of AJIO, while current CEO Vineeth Nair is likely to transition into a broader strategic role within Reliance Retail’s fashion and lifestyle business. Leadership Transition Signals Broader Fashion Strategy Sources indicate that Nair may take on expanded responsibilities across the fashion vertical, potentially including oversight related to Reliance Brands. While Karwa will lead AJIO’s operations, Nair is expected to remain involved at a…
Conversational fintech platform jUMPP has received regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance products through its platform. The approval marks jUMPP’s entry into the insurance segment as the company expands its broader financial services ecosystem beyond investments and payments. Building an Integrated Financial Ecosystem With insurance now part of its roadmap, jUMPP plans to gradually evolve into a unified platform spanning wealth creation, protection, lending, and banking services. Launched in 2025 by Sarvjeet Singh Virk, the AI-driven platform enables users to manage banking, savings, payments, investments, and borrowing through a single conversational…
Less than two months after the acquisition of Solethreads, its co-founder and CEO Sumant Kakaria has joined private equity firm Famy Aspire Capital as a Partner. Kakaria announced the move through a LinkedIn post, describing his entrepreneurial journey as “blessed” while expressing excitement about building the next phase of his career in investing. Consumer-Focused Investment Strategy Gains Momentum Famy Aspire Capital is a strategic private equity fund focused on consumer and healthcare sectors. Backed by the Taparia family, the firm plans to invest in high-growth consumer ventures and support emerging brands through what Kakaria described as an “operator-investor DNA.” In…
Cross-border payments platform Skydo has received in-principle approval to operate as a Payment Service Provider (PSP) at GIFT City IFSC, becoming one of the first cross-border fintech firms to secure a GIFT City licence. The approval gives Skydo access to a globally aligned financial ecosystem designed for international financial services, enabling the company to build infrastructure and products tailored for businesses operating across borders. Expanding Multi-Currency and Global Payment Infrastructure The licence will allow Skydo to expand capabilities such as multi-currency collections, e-money accounts, merchant acquisition, and new international payment corridors for Indian businesses. The company has also received regulatory…
Food and beverage major PepsiCo plans to invest ₹5,700 crore in India by 2030 to expand manufacturing capacity and strengthen its long-term presence in one of its fastest-growing markets. The investment will largely focus on scaling the company’s foods business through a mix of greenfield and brownfield projects. According to PepsiCo India and South Asia CEO Jagrut Kotecha, the company sees significant growth potential in India driven by rising consumption and improving market conditions. India is currently among PepsiCo’s top 13 global markets. New Facilities Planned in MP, Assam, and Tamil Nadu The investment will primarily support manufacturing facilities in…
As oil prices rise amid the Iran conflict, Prime Minister Narendra Modi’s appeal to reduce fuel use, gold buying, and foreign travel signals a larger shift in India’s economic priorities. Why is India suddenly talking about cutting consumption? India’s economy has long depended on strong domestic consumption to sustain growth. But rising geopolitical tensions in the Middle East are now exposing one of the country’s biggest vulnerabilities: dependence on imported energy. With the Iran conflict disrupting global oil sentiment, crude prices have surged, placing pressure on inflation, the rupee, and India’s fiscal stability. Prime Minister Narendra Modi recently urged citizens…
India’s IT employee body NITES has urged the Labour Ministry to mandate work-from-home for the country’s 5.8 million IT workforce, aligning its demand with Prime Minister Narendra Modi’s recent call for austerity measures to reduce fuel consumption and non-essential travel amid global uncertainties. The organisation argued that encouraging remote work can significantly cut fuel usage, traffic congestion, and commuting costs while also supporting employee well-being and productivity. Remote Work Debate Gains Fresh Momentum NITES has reportedly asked the government to introduce a formal framework enabling flexible and remote work policies for the IT and IT-enabled services sector. The body believes…
SaveIN, one of India’s fastest-growing fintech platforms, has announced its expansion into the premium sleep and wellness segment through a strategic partnership with Duroflex, a leading sleep solutions brand. The move marks another step in SaveIN’s evolution beyond healthcare financing into high-value, aspiration-led categories. Through this collaboration, customers across Duroflex’s experience centres and retail network in 50+ cities can purchase mattresses, beds, furniture, and sleep accessories—including the newly launched Airboost mattress range—using instant No-Cost EMIs. The financing process is enabled through a 30-second digital approval, fully paperless, and completed in-store via a QR-based checkout, eliminating purchase friction. Extending Embedded Finance…