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Video23 Jan 2026

MSEI Trading Starts January 27

MSEI ne announce kiya hai ki 27 January se Equity Capital Market me trading start hogi. Is quick update me samjhiye investors ke liye liquidity, volumes, bid ask spread aur order book depth kyun important hai.

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Video22 Jan 2026

Hella Infra FY25: Execution Growth, Profit Pain

<div id="expanded" class="style-scope ytd-text-inline-expander">FY25 mein Hella Infra ki sales strong rahi, lekin profit sharply gir gaya. Is deep dive mein samjho kaise trading se manufacturing aur execution model par shift ne costs, working capital, depreciation aur interest ko push kiya, aur kyu FY25 ek transition year ban gaya investors ke liye.</div> <div id="snippet" class="style-scope ytd-text-inline-expander"></div> <div class="style-scope ytd-watch-metadata"> <div id="video-summary" class="style-scope ytd-structured-description-content-renderer"></div> <div id="merch-shelf" class="style-scope ytd-structured-description-content-renderer"></div> <div id="ticket-shelf" class="style-scope ytd-structured-description-content-renderer"></div> <div id="items" class="style-scope ytd-structured-description-content-renderer"> <div id="header" class="style-scope ytd-video-description-transcript-section-renderer"></div> </div> </div>

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Blog21 Jan 2026

MSEI trading goes live from 27 Jan 2026: What investors should track on Day 1

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PI

Pre-IPO21 Jan 2026

PhonePe’s IPO moment: the UPI giant is ready to meet Dalal Street

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Video19 Jan 2026

Inside HDFC Securities Latest Results

HDFC Securities latest results hint at a cooling phase in capital markets. In this video, we break down falling revenues, margin pressure, and what this means for brokers, valuations, and the next market cycle. Subscribe to UnlistedZone for sharp insights on unlisted stocks, IPOs, and capital market trends.

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Blog16 Jan 2026

Hella Infra FY25: Sales grew 27%, PAT fell 42% — what really happened?

<div class="relative basis-auto flex-col -mb-(--composer-overlap-px) [--composer-overlap-px:28px] grow flex"> <div class="flex flex-col text-sm pb-25"> <article class="text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&:has([data-writing-block])>*]:pointer-events-auto [content-visibility:auto] supports-[content-visibility:auto]:[contain-intrinsic-size:auto_100lvh] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" dir="auto" tabindex="-1" data-turn-id="d6bba58e-0924-4754-931a-109565551916" data-testid="conversation-turn-1" data-scroll-anchor="true" data-turn="assistant"> <div class="text-base my-auto mx-auto pb-10 [--thread-content-margin:--spacing(4)] @w-sm/main:[--thread-content-margin:--spacing(6)] @w-lg/main:[--thread-content-margin:--spacing(16)] px-(--thread-content-margin)"> <div class="[--thread-content-max-width:40rem] @w-lg/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn" tabindex="-1"> <div class="flex max-w-full flex-col grow"> <div class="min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&]:mt-1" dir="auto" data-message-author-role="assistant" data-message-id="d6bba58e-0924-4754-931a-109565551916" data-message-model-slug="gpt-5-2-thinking"> <div class="flex w-full flex-col gap-1 empty:hidden first:pt-[1px]"> <div class="markdown prose dark:prose-invert w-full break-words light markdown-new-styling"> If you only look at the topline, Hella Infra had a strong year. Revenue jumped 27% to ₹18,471.94 Cr (FY24: ₹14,530.24 Cr). But the moment you scroll to the bottom, the mood changes: PAT fell 42% to ₹219.74 Cr (FY24: ₹378.04 Cr). So what’s going on? This isn’t a single-line explanation. FY25 is a year where four pressure points hit together—Other Income, Other Expenses, Depreciation, Debt/interest—and all of it is linked to a shift in revenue mix and a much heavier balance sheet. <h3 data-start="691" data-end="713">The one-line summary</h3> Hella Infra’s FY25 looks like an execution-heavy expansion year: the company shifted toward finished goods + services, spent aggressively on assets, took on more working-capital debt, and lost a large one-off other-income cushion that boosted FY24 profits. <h3 data-start="1000" data-end="1080">1) Revenue grew, but the mix changed—and that changes margin and cash behavior</h3> <img src="https://unlistedzone.com/storage/knowledge-logo/app_image-1768561043.jpg" alt="" width="50%" /> <h3 data-start="1082" data-end="1112">Revenue mix (FY25 vs FY24)</h3> <img src="https://unlistedzone.com/storage/knowledge-logo/app_image-1768561104.jpg" alt="" width="50%" /> <ul data-start="1113" data-end="1367"> <li data-start="1113" data-end="1181"> Traded goods: ₹9,763.79 Cr vs ₹10,164.09 Cr (down ~4%) </li> <li data-start="1182" data-end="1251"> Finished goods: ₹8,076.65 Cr vs ₹4,034.35 Cr (up ~100%) </li> <li data-start="1252" data-end="1310"> Services: ₹600.63 Cr vs ₹316.23 Cr (up ~90%) </li> <li data-start="1311" data-end="1367"> Other operating revenue (small): included in total </li> </ul> What this implies: The growth is not coming from “simple trading volume.” It’s coming from a more execution-intensive model—finished goods and services. And that’s where the story begins. When finished goods + services scale up quickly, you typically see: <ul data-start="1637" data-end="1805"> <li data-start="1637" data-end="1688"> higher input usage (materials, consumables, fuel) </li> <li data-start="1689" data-end="1725"> more subcontracting and site costs </li> <li data-start="1726" data-end="1753"> higher freight/forwarding </li> <li data-start="1754" data-end="1805"> heavier working capital (inventory + receivables) </li> </ul> And FY25 shows exactly that. <h3 data-start="1842" data-end="1924">2) Pressure Point #1: Other Income collapsed—because FY24 had a big one-off gain</h3> Other income fell from ₹213.22 Cr to ₹83.84 Cr (down ~₹129.38 Cr). The key missing piece: FY24 included a large “fair value gain on investment in associate” of ~₹168.60 Cr, which did not repeat in FY25. FY25 did have positives like higher interest on bank deposits and some gains, but they were too small to replace the missing one-off. Why it matters: Even if operations stayed the same, losing a ₹100–170 Cr profit cushion makes PAT look dramatically weaker. So FY25 is more “core” than FY24. But unfortunately, core operations also got costlier. <h3 data-start="2505" data-end="2594">3) Pressure Point #2: Other Expenses exploded—and the pattern screams “execution costs”</h3> Other expenses jumped from ₹1,403.37 Cr to ₹2,684.76 Cr—up ₹1,281.39 Cr. And the increase isn’t hidden in admin lines. It’s concentrated in the four most “project execution” buckets: <h3 data-start="2793" data-end="2828">Biggest blowouts (FY25 vs FY24)</h3> <ol data-start="2829" data-end="3145"> <li data-start="2829" data-end="2898"> Power & fuel: ₹568.02 Cr vs ₹131.38 Cr → +₹436.64 Cr </li> <li data-start="2899" data-end="2985"> Labour & contracting services: ₹591.38 Cr vs ₹253.07 Cr → +₹338.31 Cr </li> <li data-start="2986" data-end="3069"> Hire, freight & forwarding: ₹630.76 Cr vs ₹429.07 Cr → +₹201.69 Cr </li> <li data-start="3070" data-end="3145"> Stores & consumables: ₹238.12 Cr vs ₹121.70 Cr → +₹116.42 Cr </li> </ol> These four alone account for ~₹1,093 Cr out of the ₹1,281 Cr overall rise. Interpretation: FY25 growth required much heavier execution—fuel consumption, logistics intensity, subcontracting and operating consumption surged. This aligns perfectly with the revenue mix shift (finished goods + services ramp-up). <h3 data-start="3478" data-end="3562">4) Pressure Point #3: Depreciation doubled—because the asset base expanded rapidly</h3> <img src="https://unlistedzone.com/storage/knowledge-logo/app_image-1768561153.jpg" alt="" width="50%" /> Depreciation & amortisation rose from ₹216.81 Cr to ₹445.56 Cr (up ₹228.75 Cr). That doesn’t happen unless the company has: <ul data-start="3701" data-end="3829"> <li data-start="3701" data-end="3734"> commissioned new assets, and/or </li> <li data-start="3735" data-end="3788"> significantly increased plant and equipment, and/or </li> <li data-start="3789" data-end="3829"> brought acquired assets onto the books </li> </ul> And the balance sheet confirms exactly that. <h3 data-start="3882" data-end="3971">5) Pressure Point #4: Debt rose sharply—especially short-term—and finance cost followed</h3> Borrowings increased from ₹3,959.75 Cr to ₹6,056.03 Cr (up ₹2,096.28 Cr, +53%). But the real detail is in the composition: <ul data-start="4110" data-end="4277"> <li data-start="4110" data-end="4192"> Current borrowings: ₹4,388.51 Cr vs ₹2,504.91 Cr → +₹1,883.60 Cr </li> <li data-start="4193" data-end="4277"> Non-current borrowings: ₹1,667.52 Cr vs ₹1,454.84 Cr → +₹212.68 Cr </li> </ul> So the jump is largely working-capital / short-term funding, not just long-tenor project finance. As expected, finance cost rose: <ul data-start="4414" data-end="4486"> <li data-start="4414" data-end="4486"> Finance cost: ₹804.83 Cr vs ₹554.02 Cr (up ₹250.81 Cr) </li> </ul> Why does this matter? Short-term borrowings are usually taken to fund: <ul data-start="4565" data-end="4661"> <li data-start="4565" data-end="4578"> receivables </li> <li data-start="4579" data-end="4590"> inventory </li> <li data-start="4591" data-end="4612"> execution intensity </li> <li data-start="4613" data-end="4661"> timing mismatch between billing and collection </li> </ul> And we can actually see working capital expanding. <h3 data-start="4720" data-end="4805">6) The balance sheet confirms the “working capital + expansion + acquisition” story</h3> <h3 data-start="4807" data-end="4841">Balance sheet size jumped ~54%</h3> <ul data-start="4842" data-end="4911"> <li data-start="4842" data-end="4911"> Total assets: ₹16,540 Cr vs ₹10,742 Cr → +₹5,798 Cr </li> </ul> <h3 data-start="4913" data-end="4950">Non-current assets nearly doubled</h3> <ul data-start="4951" data-end="5024"> <li data-start="4951" data-end="5024"> Non-current assets: ₹7,067 Cr vs ₹3,654 Cr → +₹3,413 Cr </li> </ul> Key drivers: <ul data-start="5039" data-end="5345"> <li data-start="5039" data-end="5138"> PPE: ₹3,169 Cr vs ₹1,182 Cr → +₹1,988 Cr → strong capex / asset commissioning </li> <li data-start="5139" data-end="5250"> Goodwill: ₹2,011 Cr vs ₹912 Cr → +₹1,099 Cr → indicates acquisitions/business combination </li> <li data-start="5251" data-end="5345"> Intangibles under development & CWIP also rose → some projects still under execution </li> </ul> <h3 data-start="5347" data-end="5416">Current assets also rose meaningfully (working capital expansion)</h3> <ul data-start="5417" data-end="5486"> <li data-start="5417" data-end="5486"> Current assets: ₹9,442 Cr vs ₹7,079 Cr → +₹2,364 Cr </li> </ul> Key working capital movers: <ul data-start="5516" data-end="5649"> <li data-start="5516" data-end="5588"> Trade receivables: ₹6,245 Cr vs ₹5,230 Cr → +₹1,014 Cr </li> <li data-start="5589" data-end="5649"> Inventories: ₹958 Cr vs ₹490 Cr → +₹469 Cr </li> </ul> This explains why current borrowings rose so much. Execution-heavy businesses often grow revenue by deploying cash into receivables and inventory first. <h3 data-start="5812" data-end="5846">So why did PAT fall? Put simply:</h3> <h3 data-start="5848" data-end="5902">FY25 had three negatives and one missing positive:</h3> Missing positive (FY24 one-off): <ul data-start="5941" data-end="6010"> <li data-start="5941" data-end="6010"> other income had a large fair value gain in FY24 that didn’t repeat </li> </ul> Negatives (FY25 structural pressures): <ol data-start="6055" data-end="6266"> <li data-start="6055" data-end="6144"> other expenses surged with execution scale (fuel, freight, contracting, consumables) </li> <li data-start="6145" data-end="6194"> depreciation rose as the asset base expanded </li> <li data-start="6195" data-end="6266"> debt and interest rose as working capital and capex needed funding </li> </ol> So even though revenue rose, the company experienced: <ul data-start="6322" data-end="6419"> <li data-start="6322" data-end="6345"> lower non-core income </li> <li data-start="6346" data-end="6379"> higher operating cost intensity </li> <li data-start="6380" data-end="6419"> higher fixed charges (D&A + interest) </li> </ul> That combination compresses PAT quickly. <h3 data-start="6468" data-end="6544">What to watch next: Is FY25 a temporary “transition year” or a new normal?</h3> If FY25 is a ramp-up year, FY26 should show improvements in these four indicators: <ol data-start="6630" data-end="7065"> <li data-start="6630" data-end="6721"> Other expenses as % of revenue Do fuel/freight/contracting intensity come down? </li> <li data-start="6723" data-end="6833"> Receivable days / working capital discipline Do trade receivables and inventory start normalising? </li> <li data-start="6835" data-end="6923"> Debt profile Does reliance on short-term borrowing reduce or get refinanced? </li> <li data-start="6925" data-end="7065"> Core profitability (excluding one-offs) FY24 had a big fair value gain—so compare FY26 with FY25 on core margins, not with FY24. </li> </ol> <h3 data-start="7072" data-end="7090">Closing thought</h3> Hella Infra’s FY25 doesn’t look like a demand problem. It looks like an execution + scaling + integration year where profit took a hit because the cost base and funding needs expanded faster than the benefits of scale could show up. If the capex and acquisition translate into better throughput and margins while working capital stabilises, FY25 may be remembered as “investment pain.” If not, the risk is that FY25 marks a structurally higher cost and leverage base </div> </div> </div> </div> </div> </div> </article> </div> </div> <div id="thread-bottom-container" class="sticky bottom-0 group/thread-bottom-container relative isolate z-10 w-full basis-auto has-data-has-thread-error:pt-2 has-data-has-thread-error:[box-shadow:var(--sharp-edge-bottom-shadow)] md:border-transparent md:pt-0 dark:border-white/20 md:dark:border-transparent print:hidden content-fade single-line flex flex-col"> <div class="-mt-4 text-token-text-secondary relative flex min-h-8 w-full items-center justify-center p-2 text-center text-xs [view-transition-name:var(--vt-disclaimer)] md:px-[60px]"> <div class="pointer-events-auto"> </div> </div> </div>

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Video15 Jan 2026

NSE IPO Back on Track

<div id="shorts-panel-container" class="style-scope ytd-shorts"> <div id="anchored-panel" class="anchored-panel style-scope ytd-shorts"> <div id="content" class="style-scope ytd-engagement-panel-section-list-renderer"> <div id="items" class="style-scope ytd-structured-description-content-renderer"> <div id="snippet" class="style-scope ytd-text-inline-expander">SEBI has indicated that the regulatory no objection certificate could be issued by month end, ending nearly a decade of delays. In this video, we break down what this means for existing shareholders, unlisted investors, and Indian markets, and what steps come next in the IPO process.</div> <div id="source-attributions-wrapper" class="style-scope ytd-expandable-video-description-body-renderer"></div> </div> </div> <div id="footer" class="style-scope ytd-engagement-panel-section-list-renderer"></div> </div> </div> <div class="navigation-container style-scope ytd-shorts"> <div id="navigation-button-up" class="navigation-button style-scope ytd-shorts"> <div class="yt-spec-button-shape-next__icon" aria-hidden="true"> <div> </div> </div> </div> </div>

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Blog15 Jan 2026

HDFC Securities 9M FY26: When capital-market earnings stop compounding like 2020–2024

From 2020 onwards, capital market businesses lived in a sweet spot. More demat accounts, higher turnover, nonstop IPO buzz, derivatives frenzy, and a retail wave that made broking earnings look almost linear. But HDFC Securities latest numbers are a reminder: this is still a cycle business—and we are now seeing the normalisation phase. <h3 class="p2">A) The scoreboard (9M FY26 vs 9M FY25)</h3> For the nine months ended 31 December 2025 (9M FY26), HDFC Securities reported: <ul class="ul1"> <li class="li3">Revenue from operations: ₹2,257 cr vs ₹2,521 cr (down ~10.5%) </li> <li class="li3">Profit before tax (PBT): ₹884 cr vs ₹1,164 cr (down ~24.1%) </li> <li class="li3">Profit after tax (PAT): ₹661 cr vs ₹873 cr (down ~24.3%) </li> </ul> So yes, revenue softened. But profits fell much faster—the classic sign that operating leverage has flipped. <img src="https://unlistedzone.com/storage/knowledge-logo/app_image-1768469861.jpeg" alt="" width="50%" height="50%" /> <h3 class="p2">B) What exactly slowed?</h3> 1) The most “market-linked” line item got hit: Fees & commission income Fees & commission fell to ₹1,095.3 cr from ₹1,356.8 cr (down ~19.3%) This is the line most sensitive to: <ul class="ul1"> <li class="li3">trading activity / churn,</li> <li class="li3">broking yields and pricing pressure,</li> <li class="li3">distribution economics,</li> <li class="li3">overall investor risk appetite.</li> </ul> When this number falls, it usually means the business is moving from “hot market” to “steady market.” 2) Interest income stayed steady, but couldn’t offset the drop Interest income was ₹1,071 cr vs ₹1,092 cr (down ~2%) So the “balance-sheet/interest” leg didn’t collapse. But the “activity/fee” leg did—and that’s what matters in broking cycles. <h3 class="p2">C) Costs: the silent profit killer in a cooling cycle</h3> Here’s the part investors often miss. In capital-market businesses, when revenue slows, costs don’t automatically come down. Employee benefit expense rose to ₹449 cr from ₹345 cr (up ~30%) And management also disclosed a specific driver: a ₹29 cr provision towards past service cost on gratuity (linked to Labour Codes) recognised during the quarter ended 31 Dec 2025 and included in employee benefit expense. So even if market activity cools, compliance and provisioning can still push costs higher. <h3 class="p2">D) Margins tell the real story</h3> <ul class="ul1"> <li class="li3">Operating margin (PBT / Revenue from ops): 39% vs 46% </li> <li class="li3">Net profit margin: 29% vs 35% </li> </ul> This is why the profit drop looks sharper than the revenue drop: margins compressed. <h3 class="p2">E) So what’s happening to capital-market stocks now?</h3> The broader “capital markets rally” that began in 2020 was built on a simple formula: More investors + more trades + more leverage + more IPOs = higher revenues = operating leverage = EPS compounding = valuation re-rating But cycles mature. Today, the sector is dealing with: <ul class="ul1"> <li class="li3">volume normalisation (growth rate, not the absolute level),</li> <li class="li3">pricing pressure in broking,</li> <li class="li3">rising tech + compliance costs,</li> <li class="li3">and investors demanding “growth + margins” rather than “just growth”.</li> </ul> In short: Capital-market businesses haven’t become bad businesses. They’ve just stopped looking like guaranteed high-growth compounders every quarter. <h3 class="p5">F) The valuation lens (Unlisted vs Listed)</h3> Now comes the interesting part. 1. HDFC Securities (Unlisted market) The current unlisted valuation of HDFC Securities is around ₹16,800 cr market cap. Using assumption of FY26 expected PAT ~₹900 cr, the implied multiple is: <ul class="ul1"> <li class="li3">P/E ≈ 18.66x (₹16,800 cr / ₹900 cr)</li> </ul> 2. Angel One (Listed) Angel One’s P/E is being quoted around ~29x in the market currently. <h3 class="p2">G) Why is HDFC Securities cheaper?</h3> Because the market is pricing in three things: <ol class="ol1"> <li class="li3">Unlisted discount Liquidity, price discovery, and exit timelines are uncertain in unlisted space—so multiples stay lower. </li> <li class="li3">Growth visibility is softer right now 9M FY26 shows a clear slowdown in fees & commission income and a profit correction. </li> <li class="li3">Operating leverage has turned negative in this phase Margins compressed from 46% to 39% at the operating level, and 35% to 29% at net level. </li> </ol> So the market’s message is basically: “HDFC Securities is a strong franchise, but right now it’s not being priced like a high-growth momentum broker.” <h3 class="p5">H) The investor takeaway</h3> If the 2020–2024 rally was the “party phase” for capital-market stocks, FY26 is looking more like the “hangover phase”—where growth must be earned, not assumed. For HDFC Securities, the key variables to watch going forward are: <ul class="ul1"> <li class="li3">Fees & commission stabilisation (because that’s the most cycle-sensitive engine) </li> <li class="li3">Cost control / one-offs normalising (employee cost spike + provisioning impact) </li> <li class="li3">Margin recovery (because that decides whether earnings bounce faster than revenue) </li> <li class="li3">And finally, whether the sector gets a fresh tailwind from a stronger market cycle.</li> </ul> And if your unlisted valuation math holds—~18.7x forward P/E for HDFC Securities vs ~29x for Angel One—then the debate becomes simple: Is HDFC Securities a “slower growth but stronger franchise” play that deserves re-rating when the cycle turns, or is the market right to keep it discounted due to growth/visibility?

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Blog15 Jan 2026

NSE IPO Moves a Step Closer: SEBI’s “In-Principle” Nod to Settle the Unfair Access Case — What It Means for Unlisted Shareholders

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Blog14 Jan 2026

Liquidnitro Games Levels Up With $19.1 Million Series A — What’s Really Going On?

If you’ve ever wondered how fast the gaming world is changing, here’s your answer: a Hyderabad-based studio barely a year old just raised $19.1 million — and global investors are lining up for a piece of it. Liquidnitro Games, founded in December 2023 by four Electronic Arts veterans — Sandeep Kowdley, Krishna Dhanekula, Arun Kunchala, and Suresh Manthena — has pulled off one of the most significant raises in India’s emerging AI-gaming ecosystem. Here’s the UnlistedZone-style breakdown. <h3>A) The Big Raise</h3> Liquidnitro Games secured $19.1 million in its Series A round led by Northpoint Capital, with participation from existing investor Nexus Venture Partners. This comes two years after its $5.25 million seed round. Why the excitement? Because Liquidnitro isn’t just making games — it’s re-imagining how global game production should work. <h3>B) So, What Does Liquidnitro Actually Do?</h3> Think of Liquidnitro as the behind-the-scenes powerhouse for global publishers. They help: <ul data-spread="false"> <li> Build and co-produce games </li> <li> Run multi‑year live services (continuous updates, events, in-game economies) </li> <li> Geo-adapt games to suit new markets (especially India) </li> <li> Manage user engagement using AI and real-time data insights </li> </ul> Basically, they help publishers earn more by keeping players hooked. <h3>C) Why Investors Are Betting Big</h3> The founders have a serious track record. Between them, they’ve managed iconic franchises like: <ul data-spread="false"> <li> Bejeweled </li> <li> Tetris </li> <li> Plants vs Zombies </li> <li> Need for Speed </li> <li> Real Racing </li> <li> The Sims </li> </ul> In a market where building and running games is getting more expensive and competitive, experience matters. And Liquidnitro’s model solves three big pain points for global publishers: <h4>1. High cost of building & maintaining games</h4> Liquidnitro provides end-to-end production support + AI automation. <h4>2. Localisation challenges in emerging markets</h4> They customise games for India, MENA, and Southeast Asia — all fast-growing markets. <h4>3. Live services complexity</h4> They take ownership of live ops, updates, analytics, player retention, and monetisation. This reduces cost, speeds up production, and helps publishers scale faster. <h3>D) How Will They Use the New Funding?</h3> Liquidnitro plans to deploy the $19.1 million for four key goals: <ol start="1" data-spread="false"> <li> Scale AI-enabled game production </li> <li> Enhance their live services and analytics platform </li> <li> Co-invest with global game publishers </li> <li> Expand into high-growth regions: India, MENA, Southeast Asia </li> </ol> The company also hints at deeper partnerships, more franchises, and a larger operating footprint. <h3>E) But Why AI in Gaming?</h3> Because games now run like mini-economies. AI helps: <ul data-spread="false"> <li> Predict user behaviour </li> <li> Personalise game difficulty and rewards </li> <li> Manage live events dynamically </li> <li> Optimise monetisation without annoying players </li> </ul> It’s no longer just about graphics — it’s about psychology, data, and retention. <h3>F) What Investors Are Saying</h3> Northpoint Capital believes Liquidnitro is becoming the go-to partner for top publishers. Nexus Venture Partners calls it a “category-defining company.” The common theme? Execution. Liquidnitro has rapidly onboarded major publishers within months of launching. <h3>The Bigger Picture</h3> The global gaming industry is shifting — publishers want: <ul data-spread="false"> <li> Lower costs </li> <li> Faster production </li> <li> Data-driven live operations </li> <li> Region-specific adaptations </li> </ul> Liquidnitro is positioning itself as the solution to all four. And with AI at the center of its platform, it’s aligned perfectly with where the industry is headed. <h3>The Bottom Line</h3> Liquidnitro Games isn’t building the next PUBG or Candy Crush. It’s building the AI-powered machinery that keeps the global gaming economy running. And with $19.1 million in fresh fuel, it’s just getting started.

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Video13 Jan 2026

Razorpay IPO Story Explained

Razorpay’s journey from a simple payment gateway to a full-stack fintech platform serving over 10 million Indian businesses. In this video, we briefly cover its business model, revenue growth, improving profitability, and what to watch as Razorpay prepares for its IPO.

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Blog13 Jan 2026

Sukino Raises $31 Million: Betting Big on India’s Long-Term Healthcare Gap

India’s healthcare system has a missing middle. Hospitals are overcrowded, home-care is unstructured, and millions of patients recovering from surgeries, accidents, or chronic illness face an uncomfortable choice — stay in hospitals longer than needed or go home without structured medical support. Bengaluru-based Sukino wants to fix this gap. And now, it has fresh capital to scale. The long-term healthcare startup has raised $31 million (₹50 crore) in a round led by Bessemer, with participation from Zerodha’s investment arm, Rainmatter. The company plans to expand into new cities and broaden its medical and rehabilitative care offerings. <h2>A) What Problem Is Sukino Solving?</h2> India is witnessing a sharp rise in chronic illnesses — stroke, cancer, respiratory disorders, kidney disease, Alzheimer’s — and nearly all of them require long-term recovery. But hospitals aren’t built for prolonged care. Beds are limited, costs escalate quickly, and early discharge often shifts the burden to families. This results in untrained home-care, inconsistent monitoring, and higher chances of complications. Sukino offers a structured alternative — multidisciplinary, out-of-hospital care for: <ul data-spread="false"> <li> Post-acute patients recovering from surgeries </li> <li> Stroke and neuro-rehab patients </li> <li> Long-term chronic illness cases </li> <li> Elderly patients needing continuous monitoring </li> <li> Patients transitioning from hospital to home </li> </ul> The idea is simple: provide hospital-level care without hospital-level chaos. <h2>B) How Does Sukino Operate?</h2> Sukino blends rehabilitation, monitoring, and medical support into a single ecosystem. Its services include: <ul data-spread="false"> <li> 24/7 nurse-assisted critical care </li> <li> Physiotherapy and rehabilitation programs </li> <li> Post-operative care support </li> <li> Chronic disease management </li> <li> Palliative assistance </li> <li> Home-care with medical equipment and monitoring </li> </ul> Patients receive consistent care while families reduce financial and emotional strain. <h2>C) Where Is Sukino Headquartered?</h2> Sukino operates out of Bengaluru, which also serves as its strategic and operational headquarters. The city’s large elderly population and rising chronic illness cases make it one of India’s most important recovery markets. <h2>D) About the Founder</h2> Sukino was founded in 2015 by Rajinish Menon, who built the company on the principle of compassionate, structured, long-term patient support. The name draws inspiration from the mantra: “Om Loka Samastah Sukino Bhavantu” — May all beings be free from suffering.” This philosophy shapes Sukino’s focus on dignity-led recovery and patient comfort. <h2>E) Why This Funding Matters</h2> India’s healthcare, especially long-term care, is deeply underserved. Three major trends make Sukino’s model crucial: <h3>1. Rising Chronic Disease Burden</h3> India’s chronic illness cases are growing rapidly, increasing demand for continuous medical support. <h3>2. Ageing Population</h3> India is on track to have the world’s largest elderly population by 2050, making long-term care essential. <h3>3. Hospital Bed Shortage</h3> India has only 1.3 hospital beds per 1,000 people — far below global averages — making post-discharge care facilities necessary. Sukino directly addresses all three issues. <h2>Bottom Line</h2> Sukino isn’t replacing hospitals — it is extending them. By filling the gap between hospital discharge and full recovery, it offers structured, affordable, medically supervised care. The fresh funding positions Sukino to become a major player in India’s long-term healthcare ecosystem, reshaping how patients recover outside hospitals in the coming decade.

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