Blogs, insights, guides and videos on India's unlisted market — all in one place.
<p>Shadowfax Technologies, a leading logistics and delivery services provider, has filed its Draft Red Herring Prospectus (DRHP) under the confidential route with SEBI to raise Rs 2,000 to Rs 2,500 crore through an Initial Public Offering (IPO). Backed by Flipkart and global investors, the company is positioning itself as a strong player in India’s rapidly expanding logistics sector.</p> <h3>A) IPO Overview</h3> <ul data-spread="false"> <li> <p><strong>IPO Size</strong>: Rs 2,000 to Rs 2,500 crore</p> </li> <li> <p><strong>Filing Route</strong>: Confidential SEBI filing</p> </li> <li> <p><strong>Structure</strong>: Expected to include a mix of fresh issue and offer for sale (OFS), likely split equally</p> </li> <li> <p><strong>Expected Valuation</strong>: Around Rs 8,500 crore post-IPO</p> </li> <li> <p><strong>IPO Lead Managers</strong>: ICICI Securities, JM Financial, Morgan Stanley</p> </li> <li> <p><strong>Use of Proceeds</strong>:</p> <ul data-spread="false"> <li> <p>Expansion of delivery capacity</p> </li> <li> <p>Strengthening of logistics network</p> </li> <li> <p>Further growth and technology investments</p> </li> </ul> </li> </ul> <p>The confidential route allows the company to assess market conditions and defer public disclosure until the IPO launch is imminent, thereby safeguarding sensitive business information from competitors like Delhivery and Ekart.</p> <h3>B) About Shadowfax Technologies</h3> <p>Founded in 2015 by IIT Delhi alumni Vaibhav Khandelwal and Abhishek Bansal, Shadowfax is based in Bengaluru and is one of India’s fastest-growing logistics platforms. The company specializes in:</p> <ul data-spread="false"> <li> <p>Rapid parcel delivery</p> </li> <li> <p>Same-day and next-day shipping</p> </li> <li> <p>Doorstep-to-doorstep exchange</p> </li> <li> <p>Quick commerce with 10-minute delivery capability</p> </li> </ul> <p>Shadowfax has a wide reach, covering over 18,000 pin codes and more than 2,500 cities across India. It handles more than 2 million package deliveries per day and is a trusted logistics partner for major platforms such as Flipkart, AJIO, and Nykaa.</p> <h3>C) Financial Performance (FY24)</h3> <ul data-spread="false"> <li> <p><strong>Revenue</strong>: Rs 1,884 crore (up 33% year-on-year)</p> </li> <li> <p><strong>EBITDA</strong>: Rs 23 crore (achieved profitability)</p> </li> <li> <p><strong>Net Loss</strong>: Reduced sharply to Rs 12 crore (down 92%)</p> </li> </ul> <p>In February 2025, the company was valued at approximately Rs 6,000 crore in a funding round. The upcoming IPO aims to build on this momentum.</p> <h3>D) Strategic Growth and Expansion</h3> <p>Shadowfax has taken several strategic steps to prepare for its public debut:</p> <ul data-spread="false"> <li> <p><strong>Acquisition of CriticaLog India</strong>: Enhances capabilities in high-value and B2B logistics</p> </li> <li> <p><strong>Board Strengthening</strong>: To align with corporate governance standards for listed companies</p> </li> <li> <p><strong>Operational Expansion</strong>: Focus on increasing delivery speed, coverage, and technological integration</p> </li> </ul> <h3>E) Strong Investor Backing</h3> <p>Shadowfax is backed by a robust set of institutional investors, including:</p> <ul data-spread="false"> <li> <p>Flipkart</p> </li> <li> <p>TPG</p> </li> <li> <p>Eight Roads Ventures</p> </li> <li> <p>Mirae Asset Ventures</p> </li> <li> <p>Nokia Growth Fund</p> </li> </ul> <h3>F) Broader IPO Context in Startup Ecosystem</h3> <p>Shadowfax joins a wave of new-age startups opting for public listings in 2025. In recent weeks, Pine Labs, Wakefit, and Curefoods have also filed DRHPs, collectively targeting Rs 4,000 crore in primary capital. Shadowfax's IPO alone adds another Rs 1,000 to Rs 1,250 crore to this trend.</p> <p>Meanwhile, Meesho and Lenskart are also preparing to file confidentially for IPOs estimated at Rs 8,500 crore each.</p> <h3>Conclusion</h3> <p>Shadowfax’s IPO marks a significant step in the evolution of India’s logistics sector and offers an exciting opportunity for investors tracking the unlisted and pre-IPO space. With strong financial performance, expansive operations, and solid investor backing, the company is well-positioned to make a successful public debut. Investors should keep a close eye on listing developments and the final DRHP when it becomes public.</p> <p><strong>Disclaimer</strong>: This article is for informational purposes only and is not intended as investment advice. Readers are advised to conduct their own due diligence and consult financial advisors before making any investment decisions.</p>
<h2>A) Business Model of the Company</h2> <p><strong>Type:</strong> NBFC (Non-Banking Financial Company)<br /><strong>Founded:</strong> 1991 as Hero Honda FinLease Ltd, rebranded in 2015<br /><strong>Parent:</strong> Hero MotoCorp Ltd</p> <p><strong>Primary Segments:</strong></p> <ul data-spread="false"> <li> <p><strong>Retail Lending (65.08% of AUM):</strong> Two-wheeler loans, personal loans, mortgage loans.</p> </li> <li> <p><strong>MSME Lending (20.80% of AUM):</strong> Working capital, small business finance.</p> </li> <li> <p><strong>Corporate & Institutional Finance (CIF):</strong> Structured finance, large ticket lending.</p> </li> </ul> <p><strong>Promoters:</strong></p> <ul data-spread="false"> <li> <p><strong>Majority Stakeholder:</strong> Hero MotoCorp Ltd (41.15%)</p> </li> <li> <p><strong>Other Key Promoters:</strong></p> <ul data-spread="false"> <li> <p>Bahadur Chand Investments (20.23%)</p> </li> <li> <p>Brijmohan Lal Om Parkash (9.51%)</p> </li> <li> <p>Munjal family: Dr. Pawan Munjal, Renu Munjal, Renuka Munjal, Abhimanyu Munjal</p> </li> </ul> </li> </ul> <p>Hero MotoCorp’s involvement ensures strong governance and brand trust, while the Munjal family’s continued control retains strategic continuity.</p> <h3>Operational Metrics</h3> <ul data-spread="false"> <li> <p>● <strong>Customer Base:</strong> 5 million retail, 29,060 MSMEs, 360 CIF borrowers.</p> </li> <li> <p>● <strong>Sourcing Mix:</strong> Direct sourcing (31.97%), digital partners (22.39%), two-wheeler dealers (21.20%), DSAs (18.48%).</p> </li> <li> <p>● <strong>Branch Distribution:</strong> 140 branches, with 86.43% in metro and urban centers.</p> </li> <li> <p>● <strong>Collection Infrastructure:</strong> 545 call centre executives, 1,357 in-house collection team members, 8,313 field agents.</p> </li> <li> <p>● <strong>Collection Method:</strong> Digital collections form 83.31% of total, showing strong digital integration.</p> </li> </ul> <div><hr /></div> <h2>B) How Hero FinCorp Makes Money</h2> <p>Hero FinCorp earns through interest income on loans and fees from services. Its income mix is primarily driven by:</p> <ul data-spread="false"> <li> <p>Interest from loans (Retail, MSME, CIF)</p> </li> <li> <p>Fees on processing, servicing, and penalties</p> </li> <li> <p>Investment income (from surplus capital)</p> </li> </ul> <h3>Loan Portfolio</h3> <table style="width: 101.45%;"> <tbody> <tr> <th style="width: 13.9302%; text-align: center;">Loan Type</th> <th style="width: 14.81%; text-align: center;">FY24 AUM (₹ Cr)</th> <th style="width: 14.81%; text-align: center;">FY23 AUM (₹ Cr)</th> <th style="width: 14.81%; text-align: center;">FY22 AUM (₹ Cr)</th> <th style="width: 20.0888%; text-align: center;">Segment Contribution</th> <th style="width: 21.2619%; text-align: center;">Segment Secured Loans (%)</th> </tr> <tr> <td style="width: 13.9302%; text-align: center;">Total Loans</td> <td style="width: 14.81%; text-align: center;">51,487.10</td> <td style="width: 14.81%; text-align: center;">41,497.30</td> <td style="width: 14.81%; text-align: center;">32,950.80</td> <td style="width: 20.0888%; text-align: center;">100%</td> <td style="width: 21.2619%; text-align: center;">59.95%</td> </tr> <tr> <td style="width: 13.9302%; text-align: center;">Vehicle Loans</td> <td style="width: 14.81%; text-align: center;">12,794.30</td> <td style="width: 14.81%; text-align: center;">10,838.40</td> <td style="width: 14.81%; text-align: center;">9,876.00</td> <td style="width: 20.0888%; text-align: center;">24.85% of Total</td> <td style="width: 21.2619%; text-align: center;">100% (Retail)</td> </tr> <tr> <td style="width: 13.9302%; text-align: center;">Mortgage Loans</td> <td style="width: 14.81%; text-align: center;">4,998.90</td> <td style="width: 14.81%; text-align: center;">3,697.00</td> <td style="width: 14.81%; text-align: center;">2,722.30</td> <td style="width: 20.0888%; text-align: center;">9.71% of Total</td> <td style="width: 21.2619%; text-align: center;">98.48% (Retail)</td> </tr> <tr> <td style="width: 13.9302%; text-align: center;">MSME Loans</td> <td style="width: 14.81%; text-align: center;">10,779.80</td> <td style="width: 14.81%; text-align: center;">8,481.50</td> <td style="width: 14.81%; text-align: center;">6,151.40</td> <td style="width: 20.0888%; text-align: center;">20.80% of AUM</td> <td style="width: 21.2619%; text-align: center;">58.09%</td> </tr> <tr> <td style="width: 13.9302%; text-align: center;">CIF Loans</td> <td style="width: 14.81%; text-align: center;">7,314.70</td> <td style="width: 14.81%; text-align: center;">7,037.20</td> <td style="width: 14.81%; text-align: center;">6,934.60</td> <td style="width: 20.0888%; text-align: center;">14.12% of AUM</td> <td style="width: 21.2619%; text-align: center;">94.15%</td> </tr> </tbody> </table> <div><hr /></div> <h2>C) Industry Analysis – Michael Porter’s 5 Forces</h2> <ol start="1" data-spread="false"> <li> <p><strong>Threat of New Entrants:</strong> Moderate – Due to regulatory compliance and need for capital.</p> </li> <li> <p><strong>Bargaining Power of Customers:</strong> High – Customers have multiple NBFC/bank options.</p> </li> <li> <p><strong>Bargaining Power of Suppliers:</strong> Medium – Mainly applies to capital providers.</p> </li> <li> <p><strong>Threat of Substitutes:</strong> Medium – Rise of fintech lenders and digital-only NBFCs.</p> </li> <li> <p><strong>Industry Rivalry:</strong> High – Competing with Bajaj Finance, Chola, Poonawalla, Sundaram, etc.</p> </li> </ol> <p><strong>Additional Insights:</strong></p> <ul data-spread="false"> <li> <p><strong>Market Size:</strong> The Indian retail & MSME lending market is projected to surpass ₹60 lakh crore by FY30.</p> </li> <li> <p><strong>Hero FinCorp’s Market Share:</strong> Estimated <1% of total NBFC loan book due to its focused product mix.</p> </li> <li> <p><strong>Top Competitors’ Share:</strong></p> <ul data-spread="false"> <li> <p>Bajaj Finance: ~7.5% of NBFC sector loan book.</p> </li> <li> <p>Cholamandalam Finance: ~2.5%</p> </li> <li> <p>Hero FinCorp: ~0.9%</p> </li> </ul> </li> </ul> <div><hr /></div> <h2>D) Last 3 Years Returns in Unlisted Market</h2> <ul data-spread="false"> <li> <p><strong>2022 Low:</strong> ₹780</p> </li> <li> <p><strong>2023:</strong> ~₹1,050</p> </li> <li> <p><strong>2024 Peak:</strong> ~₹2,200</p> </li> <li> <p><strong>Current (June 2025):</strong> ₹1,595</p> </li> <li> <p><strong>CAGR (approx.):</strong> ~24% over 3 years</p> </li> </ul> <div><hr /></div> <h2>E) IPO Expected Valuation & Peer Comparison</h2> <p><strong>IPO Details:</strong></p> <ul data-spread="false"> <li> <p>Size: ₹3,668 Cr (Fresh Issue ₹2,100 Cr + OFS ₹1,568 Cr)</p> </li> <li> <p>Valuation: ₹20,320 Cr (Unlisted Estimate)</p> </li> <li> <p>Expected Valuation at IPO: ~₹17,836 Cr (for price band ₹1300–1400)</p> </li> <li> <p>P/E: 184.82x (FY25 PAT ₹110 Cr)</p> </li> </ul> <p><strong>Peer Benchmarking (FY25 Data):</strong></p> <table style="width: 100.856%;"> <tbody> <tr> <td style="width: 25.075%; text-align: center;">Company</td> <td style="width: 10.7675%; text-align: center;">Revenue (₹ Cr)</td> <td style="width: 15.1925%; text-align: center;">PAT (₹ Cr)</td> <td style="width: 7.22751%; text-align: center;">ROE</td> <td style="width: 10.4725%; text-align: center;">D/E Ratio</td> <td style="width: 14.6025%; text-align: center;">Market Cap (₹ Cr)</td> <td style="width: 9.29252%; text-align: center;">P/E</td> <td style="width: 7.52251%; text-align: center;">P/B</td> </tr> <tr> <td style="width: 25.075%; text-align: center;">Hero FinCorp Limited</td> <td style="width: 10.7675%; text-align: center;">9,903</td> <td style="width: 15.1925%; text-align: center;">110</td> <td style="width: 7.22751%; text-align: center;">1.91%</td> <td style="width: 10.4725%; text-align: center;">8.33</td> <td style="width: 14.6025%; text-align: center;">20,320</td> <td style="width: 9.29252%; text-align: center;">184.2</td> <td style="width: 7.52251%; text-align: center;">3.52</td> </tr> <tr> <td style="width: 25.075%; text-align: center;">Bajaj Finance</td> <td style="width: 10.7675%; text-align: center;">69,684</td> <td style="width: 15.1925%; text-align: center;">16,638</td> <td style="width: 7.22751%; text-align: center;">19.2%</td> <td style="width: 10.4725%; text-align: center;">3.74</td> <td style="width: 14.6025%; text-align: center;">5,74,630</td> <td style="width: 9.29252%; text-align: center;">34.5</td> <td style="width: 7.52251%; text-align: center;">5.95</td> </tr> <tr> <td style="width: 25.075%; text-align: center;">Chola Investment</td> <td style="width: 10.7675%; text-align: center;">25,846</td> <td style="width: 15.1925%; text-align: center;">4,263</td> <td style="width: 7.22751%; text-align: center;">19.7%</td> <td style="width: 10.4725%; text-align: center;">7.4</td> <td style="width: 14.6025%; text-align: center;">1,28,832</td> <td style="width: 9.29252%; text-align: center;">30.2</td> <td style="width: 7.52251%; text-align: center;">5.49</td> </tr> <tr> <td style="width: 25.075%; text-align: center;">Poonawalla Fincorp</td> <td style="width: 10.7675%; text-align: center;">4,190</td> <td style="width: 15.1925%; text-align: center;">-98.3</td> <td style="width: 7.22751%; text-align: center;">-1.2%</td> <td style="width: 10.4725%; text-align: center;">3.19</td> <td style="width: 14.6025%; text-align: center;">36,383</td> <td style="width: 9.29252%; text-align: center;">Loss</td> <td style="width: 7.52251%; text-align: center;">4.44</td> </tr> <tr> <td style="width: 25.075%; text-align: center;">Sundaram Finance</td> <td style="width: 10.7675%; text-align: center;">8,513</td> <td style="width: 15.1925%; text-align: center;">1,854</td> <td style="width: 7.22751%; text-align: center;">15.3%</td> <td style="width: 10.4725%; text-align: center;">4.63</td> <td style="width: 14.6025%; text-align: center;">57,418</td> <td style="width: 9.29252%; text-align: center;">31</td> <td style="width: 7.52251%; text-align: center;">4.37</td> </tr> </tbody> </table> <div><hr /></div> <h2>F) Financial Performance (FY25 vs. FY24)</h2> <table style="width: 101.153%;"> <tbody> <tr> <td style="width: 26.7288%; text-align: center;">Metric (₹ Cr)</td> <td style="width: 8.00047%; text-align: center;">FY25</td> <td style="width: 8.00047%; text-align: center;">FY24</td> <td style="width: 10.9097%; text-align: center;">Change</td> <td style="width: 46.73%; text-align: center;">Analysis</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">Interest Income</td> <td style="width: 8.00047%; text-align: center;">8,589</td> <td style="width: 8.00047%; text-align: center;">7,479</td> <td style="width: 10.9097%; text-align: center;">+15%</td> <td style="width: 46.73%; text-align: center;">Loan book expansion.</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">Other Income</td> <td style="width: 8.00047%; text-align: center;">1,314</td> <td style="width: 8.00047%; text-align: center;">880</td> <td style="width: 10.9097%; text-align: center;">+49%</td> <td style="width: 46.73%; text-align: center;">Fee income & recoveries.</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">Total Income</td> <td style="width: 8.00047%; text-align: center;">9,903</td> <td style="width: 8.00047%; text-align: center;">8,359</td> <td style="width: 10.9097%; text-align: center;">+18%</td> <td style="width: 46.73%; text-align: center;">Healthy growth.</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">Interest Expenses</td> <td style="width: 8.00047%; text-align: center;">3,827</td> <td style="width: 8.00047%; text-align: center;">3,097</td> <td style="width: 10.9097%; text-align: center;">+24%</td> <td style="width: 46.73%; text-align: center;">Rising borrowing costs.</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">Operating Expenses</td> <td style="width: 8.00047%; text-align: center;">2,935</td> <td style="width: 8.00047%; text-align: center;">2,513</td> <td style="width: 10.9097%; text-align: center;">+17%</td> <td style="width: 46.73%; text-align: center;">Branch expansion.</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">Provisions</td> <td style="width: 8.00047%; text-align: center;">2,884</td> <td style="width: 8.00047%; text-align: center;">1,722</td> <td style="width: 10.9097%; text-align: center;">+67%</td> <td style="width: 46.73%; text-align: center;">NPA coverage (Gross NPA: 5.05%).</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">PAT</td> <td style="width: 8.00047%; text-align: center;">110</td> <td style="width: 8.00047%; text-align: center;">637</td> <td style="width: 10.9097%; text-align: center;">-83%</td> <td style="width: 46.73%; text-align: center;">Profit collapse due to provisions.</td> </tr> <tr> <td style="width: 26.7288%; text-align: center;">EPS (₹)</td> <td style="width: 8.00047%; text-align: center;">8.63</td> <td style="width: 8.00047%; text-align: center;">50.16</td> <td style="width: 10.9097%; text-align: center;">-82%</td> <td style="width: 46.73%; text-align: center;">Severe dilution.</td> </tr> </tbody> </table> <div><hr /></div> <h2>G) Key Industry Trends</h2> <ul data-spread="false"> <li> <p><strong>Target Market:</strong> "Aspiring India" (₹2–10 lakh/year households), projected to grow from <strong>103M (2022)</strong> to <strong>181M (2030)</strong>.</p> </li> <li> <p><strong>MSME Credit Gap:</strong> ₹103 trillion (as of March 2024).</p> </li> <li> <p><strong>Growth Drivers:</strong> Formalization of MSMEs, rising incomes, shift to digital lending.</p> </li> </ul> <div><hr /></div> <h2>H) Key Risks</h2> <ul data-spread="false"> <li> <p><strong>Asset Quality:</strong> Gross NPA at 5.05%, Net NPA at 2.3% (FY25).</p> </li> <li> <p><strong>High Leverage:</strong> Debt-to-equity at 8.33x – well above peers.</p> </li> <li> <p><strong>Profitability Concerns:</strong> PAT dropped 83% YoY due to heavy provisioning.</p> </li> </ul> <div><hr /></div> <p>Visit us at <a href="http://www.unlistedzone.com">UnlistedZone</a></p> <p><strong>Disclaimer:</strong> This is not investment advice. Readers must do their own due diligence or consult a financial advisor before making any investment decisions.</p>
<p>In the unlisted market, <strong>Tata Capital</strong> has long been one of the most popular shares. A strong brand name, solid financials, and the <strong>Tata Group legacy</strong> have consistently attracted retail and HNI investors.</p> <p>However, with the recent <strong>HDB Financial Services IPO debacle</strong>, sentiment in the unlisted space has taken a hit—bringing <strong>Tata Capital’s sky-high valuation</strong> under intense scrutiny.</p> <div><hr /></div> <h2><strong>A) Why Is Tata Capital in Focus?</strong></h2> <ul data-spread="false"> <li> <p>Consistent growth in <strong>lending, wealth management</strong>, and <strong>housing finance</strong>.</p> </li> <li> <p>Backed by the <strong>Tata Group</strong>, it is seen as a “safe bet.”</p> </li> <li> <p>With IPO news circulating, prices in the unlisted market surged to <strong>₹1000+</strong>.</p> </li> </ul> <p>But smart investors know: <strong>brand ≠ value</strong>.</p> <div><hr /></div> <h2><strong>B) Learning from HDB Financial Services IPO</strong></h2> <p>HDB Financial, another well-regarded NBFC under the HDFC Group, was trading in the unlisted market at <strong>₹1100–₹1200</strong>. But when the IPO price came at <strong>₹740</strong>, it stunned the market.</p> <ul data-spread="false"> <li> <p>Investors who entered at <strong>₹550</strong> and exited at <strong>₹1100+</strong> made <strong>excellent returns</strong>.</p> </li> <li> <p>But those who entered late faced <strong>instant paper losses</strong>.</p> </li> </ul> <p><strong>The takeaway?</strong> Just like in listed markets, <strong>timely exit matters</strong> in unlisted investing.</p> <p>So, is <strong>Tata Capital</strong> heading in the same direction?</p> <div><hr /></div> <h2><strong>C) Valuation Check: Tata Capital</strong></h2> <p>A simple <strong>Price-to-Book (P/B)</strong> analysis gives perspective:</p> <ul data-spread="false"> <li> <p>Most listed NBFCs trade between <strong>4x–6x P/B</strong>.</p> </li> <li> <p>Tata Capital was trading in the unlisted market at <strong>₹1000+</strong>, implying a <strong>15x P/B</strong> multiple.</p> </li> </ul> <p>That is <strong>significantly overvalued</strong>.</p> <p>📌 <em>“Price is what you pay. Value is what you get.”</em><br />Even a great company can be a <strong>bad investment at the wrong price</strong>.</p> <div><hr /></div> <h2><strong>D) Listed vs Unlisted: Entry & Exit Logic</strong></h2> <ul data-spread="false"> <li> <p>In <strong>listed stocks</strong>, we always evaluate <strong>valuation before entry</strong> and plan <strong>exit on price run-up</strong>.</p> </li> <li> <p>In <strong>unlisted shares</strong>, the <strong>liquidity is lower</strong> and risks are higher—making valuation and timing even more critical.</p> </li> </ul> <p><strong>1. HDB Case:</strong><br /><br />✅ Entry at ₹550 → ✅ Exit at ₹1100+ → 🏆 Good returns</p> <p><strong>2. Tata Capital Case:</strong><br /><br />✅ Entry at ₹400–₹700 → ✅ Exit at ₹900–₹1100 → 🏆 Profitable<br /><br />❌ Entry now at ₹1000+ → ❓ Risky</p> <div><hr /></div> <h2><strong>E) Tata Capital IPO: What to Expect</strong></h2> <p>The IPO of Tata Capital is expected to be priced around <strong>₹400 per share</strong>, based on fair value benchmarking and peer multiples.</p> <p>That’s <strong>less than half</strong> of the current unlisted market price.</p> <p>If you’ve entered early, consider exiting at a profit.</p> <p>If you’re entering now, reassess whether you’re buying into the <strong>brand</strong> or into the <strong>valuation</strong>.</p> <div><hr /></div> <h2><strong>Conclusion: Timing is Everything</strong></h2> <p>Tata Capital is a <strong>fundamentally sound business</strong>. But in the unlisted space, <strong>returns are locked at the time of entry</strong>—not exit.</p> <p><strong>Overpaying</strong> for even the best companies can hurt returns.</p> <p>At <strong>UnlistedZone</strong>, our investment mantra is clear:</p> <ul data-spread="false"> <li> <p>Enter when valuations are <strong>reasonable</strong></p> </li> <li> <p>Rely on <strong>research</strong>, not rumors</p> </li> <li> <p>Exit when the stock has <strong>run ahead of fundamentals</strong></p> </li> <li> <p>Avoid <strong>FOMO</strong></p> </li> </ul> <div><hr /></div> <h3><strong>Follow<a href="http://www.unlistedzone.com"> UnlistedZone</a></strong></h3> <p>For deep-dive reports, IPO alerts, and unlisted share guidance, stay connected with UnlistedZone—India’s #1 platform for unlisted equity.</p> <p>📩 <em>Need help with Tata</em> Capital <em>or other unlisted shares? </em>Connect with us today.</p>
<h2 data-pm-slice="1 1 []">Introduction</h2> <p><strong>Bengaluru-based deep-tech startup Maieutic Semiconductor</strong> has raised <strong>$4.15 million in a Seed funding round</strong>, co-led by <strong>Endiya Partners</strong> and <strong>Exfinity Venture Partners</strong>. The company is pioneering the use of <strong>Generative AI in chip design workflows</strong>, specifically targeting <strong>analog ICs</strong>, a space that has seen minimal automation despite increasing complexity.</p> <p>Founded by a team of seasoned semiconductor experts, Maieutic is on a mission to <strong>reimagine the chip development process</strong>, bringing speed, intelligence, and efficiency to one of the most critical components of the semiconductor value chain.</p> <div><hr /></div> <h3>A) What Problem is Maieutic Solving?</h3> <p>Maieutic is developing a <strong>GenAI-first copilot for analog integrated circuit (IC) design</strong>, aiming to modernize an industry still heavily reliant on manual processes. The startup’s platform is designed to:</p> <ul data-spread="false"> <li> <p>Accelerate early-stage chip design</p> </li> <li> <p>Assist domain experts with intelligent reviews</p> </li> <li> <p>Enable automated analysis of design trade-offs</p> </li> </ul> <p>By reducing the <strong>design cycle from weeks to days</strong>, Maieutic empowers engineering teams to innovate faster and reduce costly iterations.</p> <div><hr /></div> <h3>B) How Much Funding Did Maieutic Raise and From Whom?</h3> <ul data-spread="false"> <li> <p><strong>Funding Amount</strong>: $4.15 million</p> </li> <li> <p><strong>Round</strong>: Seed</p> </li> <li> <p><strong>Investors</strong>:</p> <ul data-spread="false"> <li> <p><strong>Endiya Partners</strong> – Also backed Steradian Semiconductors (previously founded by Maieutic’s CEO)</p> </li> <li> <p><strong>Exfinity Venture Partners</strong> – Active in deep-tech and semiconductor space with exits like Kinara.ai</p> </li> </ul> </li> </ul> <p>The capital will be deployed to <strong>expand Maieutic’s engineering team</strong>, <strong>enhance platform development</strong>, and <strong>accelerate go-to-market strategies</strong>.</p> <div><hr /></div> <h3>C) Who are the Founders Behind Maieutic?</h3> <p>Maieutic was <strong>founded in March 2025</strong> by veterans with a combined experience of decades in the semiconductor and AI space:</p> <ul data-spread="false"> <li> <p><strong>Gireesh Rajendran</strong> – CEO & Co-founder (Ex-founder of Steradian Semiconductors, acquired by Renesas Electronics)</p> </li> <li> <p><strong>Ashish Lachhwani</strong></p> </li> <li> <p><strong>Rakesh Kumar</strong></p> </li> <li> <p><strong>Krishna Sankar</strong></p> </li> </ul> <p>👉 Together, they <strong>hold over 70 patents</strong> and have contributed to products that sold <strong>over a billion units globally</strong>.</p> <div><hr /></div> <h3>D) What is Maieutic’s Vision and Where is it Headed?</h3> <p>Maieutic’s long-term vision is to <strong>revolutionize analog IC design</strong> by embedding <strong>AI at the heart of chip workflows</strong>. Their GenAI-powered platform is particularly aimed at:</p> <ul data-spread="false"> <li> <p><strong>Next-gen communication systems</strong></p> </li> <li> <p><strong>Automotive electronics</strong></p> </li> <li> <p><strong>Industrial-grade chips</strong></p> </li> </ul> <p>The company is on an <strong>aggressive hiring spree</strong> to build out its engineering base and aims to significantly reduce time-to-market for new chip designs.</p> <div><hr /></div> <h3>E) How Big is the Market Opportunity?</h3> <p>According to market research, the <strong>global semiconductor industry</strong> is expected to cross <strong>$1 trillion by 2030</strong>. Within that, <strong>analog IC design remains one of the most complex and under-automated segments</strong>.</p> <p>Maieutic’s AI-first approach positions it to capture a <strong>massive market opportunity</strong>, not just in India but globally.</p> <div><hr /></div> <h3>F) What Do the Investors Say?</h3> <p><strong>Sateesh Andra</strong>, Managing Partner, Endiya Partners:</p> <blockquote> <p>“Analog workflows remain largely manual despite increasing complexity. Maieutic’s GenAI approach can bring a foundational shift in this space.”</p> </blockquote> <p><strong>Chinnu Senthilkumar</strong>, Managing Partner, Exfinity Venture Partners:</p> <blockquote> <p>“Maieutic’s bold vision and deep technical expertise can help India take a leadership role in analog innovation.”</p> </blockquote> <div><hr /></div> <h3>G) What’s the Final Takeaway for Investors?</h3> <p>Maieutic Semiconductor is not merely digitizing an old process — it's <strong>redefining how analog semiconductors are conceived and built</strong>. With strong investor backing, an expert founding team, and a globally scalable vision, Maieutic is setting the stage for India to lead in the AI-powered semiconductor revolution.</p> <div> </div> <p><em>Disclaimer: This blog is for informational purposes only. It is not an investment recommendation. Please consult a financial advisor before making investment decisions in the unlisted space.</em></p>
<p>Infra.Market, India’s fastest-growing B2B infra platform, just raised another $50M from MARS Growth Capital — bringing their total to $150M from MARS alone! With FY24 revenue of ₹14,530 Cr, a $2.7B valuation, and an IPO filing expected by September 2025, this startup is shaking up construction and now even home décor with its brand 'Ivas'. Catch all the highlights — only on UnlistedZone!</p>
<p data-pm-slice="1 1 []">A comprehensive breakdown of Parag Parikh Financial Advisory Services (PPFAS), highlighting business strategy, income structure, financials, and investor base trends. </p> <div><hr /></div> <h3>1. Business Model & Revenue Streams</h3> <p>PPFAS operates as a diversified financial advisory and asset management firm. The company primarily generates income through:</p> <ul data-spread="false"> <li> <p><strong>Mutual Fund Management Fees</strong>: Charged as a percentage of AUM for managing equity, hybrid, and debt schemes.</p> </li> <li> <p><strong>Advisory Fees & Commission</strong>: Earnings from portfolio management and financial planning services.</p> </li> <li> <p><strong>Interest Income</strong>: Derived from FDs, bonds, and liquid cash reserves.</p> </li> <li> <p><strong>Net Gains on Investments</strong>: Profits from fair value revaluation of internal holdings.</p> </li> <li> <p><strong>Other Income</strong>: Rental, dividend, and ancillary revenue streams.</p> </li> </ul> <div><hr /></div> <h3>2. How PPFAS Earns Money</h3> <h4>A. Core Revenue Streams</h4> <p><strong>PPFAS Mutual Fund (Primary Revenue Source)</strong></p> <ul data-spread="false"> <li> <p>FY25: ₹375.87 crore | FY24: ₹212.47 crore</p> </li> <li> <p><strong>YoY Growth</strong>: 76.9%</p> </li> </ul> <p><strong>Advisory Fees & Commission Income</strong></p> <ul data-spread="false"> <li> <p>FY25: ₹52.81 crore | FY24: ₹73.78 crore</p> </li> <li> <p><strong>YoY Growth</strong>: -29.4%</p> </li> </ul> <h4>B. Secondary Revenue Streams</h4> <p><strong>Other Income</strong></p> <ul> <li> <p>FY25: ₹0.25 crore | FY24: ₹0.16 crore</p> </li> </ul> <p><strong>YoY Growth</strong>: 59.8<br /><br /><strong>3. Financial Performance Snapshot</strong></p> <h4>A. Revenue Breakdown (₹ in Crore)</h4> <div class="table-responsive"> <table style="width: 69.6634%;"> <tbody> <tr> <td style="width: 37.8234%; text-align: center;">Particulars</td> <td style="width: 22.8725%; text-align: center;">FY25</td> <td style="width: 20.5068%; text-align: center;">FY24</td> <td style="width: 18.8048%; text-align: center;">Growth</td> </tr> <tr> <td style="width: 37.8234%; text-align: center;">Mutual Fund Fees</td> <td style="width: 22.8725%; text-align: center;">374.20</td> <td style="width: 20.5068%; text-align: center;">212.00</td> <td style="width: 18.8048%; text-align: center;">+83.1%</td> </tr> <tr> <td style="width: 37.8234%; text-align: center;">Commission Income</td> <td style="width: 22.8725%; text-align: center;">52.81</td> <td style="width: 20.5068%; text-align: center;">73.78</td> <td style="width: 18.8048%; text-align: center;">-29.4%</td> </tr> <tr> <td style="width: 37.8234%; text-align: center;">Interest Income</td> <td style="width: 22.8725%; text-align: center;">0.23</td> <td style="width: 20.5068%; text-align: center;">0.21</td> <td style="width: 18.8048%; text-align: center;">+12.5%</td> </tr> <tr> <td style="width: 37.8234%; text-align: center;">Other Income</td> <td style="width: 22.8725%; text-align: center;">0.25</td> <td style="width: 20.5068%; text-align: center;">0.16</td> <td style="width: 18.8048%; text-align: center;">+59.8%</td> </tr> <tr> <td style="width: 37.8234%; text-align: center;"><strong>Total Revenue</strong></td> <td style="width: 22.8725%; text-align: center;"><strong>429.05</strong></td> <td style="width: 20.5068%; text-align: center;"><strong>249.15</strong></td> <td style="width: 18.8048%; text-align: center;"><strong>+72.2%</strong></td> </tr> </tbody> </table> <h4> </h4> <h4>B. Profit & Loss Highlights (₹ in Crore)</h4> <table style="width: 75.1592%;"> <tbody> <tr> <td style="width: 47.7195%; text-align: center;">Particulars</td> <td style="width: 17.6463%; text-align: center;">FY25</td> <td style="width: 17.2735%; text-align: center;">FY24</td> <td style="width: 17.3977%; text-align: center;">Growth</td> </tr> <tr> <td style="width: 47.7195%; text-align: center;">Revenue from Operations</td> <td style="width: 17.6463%; text-align: center;">428.80</td> <td style="width: 17.2735%; text-align: center;">286</td> <td style="width: 17.3977%; text-align: center;">+60.9%</td> </tr> <tr> <td style="width: 47.7195%; text-align: center;">Profit Before Tax (PBT)</td> <td style="width: 17.6463%; text-align: center;">335.76</td> <td style="width: 17.2735%; text-align: center;">216.94</td> <td style="width: 17.3977%; text-align: center;">+54.8%</td> </tr> <tr> <td style="width: 47.7195%; text-align: center;">Net Profit</td> <td style="width: 17.6463%; text-align: center;">246.60</td> <td style="width: 17.2735%; text-align: center;">171.84</td> <td style="width: 17.3977%; text-align: center;">+43.5%</td> </tr> <tr> <td style="width: 47.7195%; text-align: center;">EPS (Basic)</td> <td style="width: 17.6463%; text-align: center;">₹321.45</td> <td style="width: 17.2735%; text-align: center;">₹223.06</td> <td style="width: 17.3977%; text-align: center;">+44.0%</td> </tr> <tr> <td style="width: 47.7195%; text-align: center;">Net Margin</td> <td style="width: 17.6463%; text-align: center;">54.91%</td> <td style="width: 17.2735%; text-align: center;">59.7%</td> <td style="width: 17.3977%; text-align: center;">+8.6pp</td> </tr> </tbody> </table> </div> <p><strong>Takeaway:</strong></p> <ul data-spread="false"> <li> <p>Massive profitability due to fair value investment gains.</p> </li> <li> <p>High margin, low operating expense business model.</p> </li> </ul> <div><hr /></div> <h3>4. Balance Sheet Position (₹ in Crore)</h3> <table style="width: 84.517%; height: 147.692px;"> <tbody> <tr style="height: 36.9231px;"> <td style="width: 33.1006%; height: 36.9231px; text-align: center;">Particulars</td> <td style="width: 16.2014%; height: 36.9231px; text-align: center;">Mar-25</td> <td style="width: 12.6736%; height: 36.9231px; text-align: center;">Mar-24</td> <td style="width: 15.67%; height: 36.9231px; text-align: center;">Apr-23</td> <td style="width: 22.3605%; height: 36.9231px; text-align: center;">Growth (FY25 vs FY24)</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 33.1006%; height: 18.4615px; text-align: center;">Total Financial Assets</td> <td style="width: 16.2014%; height: 18.4615px; text-align: center;">653.87</td> <td style="width: 12.6736%; height: 18.4615px; text-align: center;">406.11</td> <td style="width: 15.67%; height: 18.4615px; text-align: center;">231.72</td> <td style="width: 22.3605%; height: 18.4615px; text-align: center;">+61.0%</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 33.1006%; height: 18.4615px; text-align: center;">└ Investments</td> <td style="width: 16.2014%; height: 18.4615px; text-align: center;">608.89</td> <td style="width: 12.6736%; height: 18.4615px; text-align: center;">378.23</td> <td style="width: 15.67%; height: 18.4615px; text-align: center;">212.34</td> <td style="width: 22.3605%; height: 18.4615px; text-align: center;">+61.0%</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 33.1006%; height: 18.4615px; text-align: center;">Non-Financial Assets</td> <td style="width: 16.2014%; height: 18.4615px; text-align: center;">48.27</td> <td style="width: 12.6736%; height: 18.4615px; text-align: center;">28.52</td> <td style="width: 15.67%; height: 18.4615px; text-align: center;">24.14</td> <td style="width: 22.3605%; height: 18.4615px; text-align: center;">+69.2%</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 33.1006%; height: 18.4615px; text-align: center;"><strong>Total Assets</strong></td> <td style="width: 16.2014%; height: 18.4615px; text-align: center;"><strong>702.15</strong></td> <td style="width: 12.6736%; height: 18.4615px; text-align: center;"><strong>434.73</strong></td> <td style="width: 15.67%; height: 18.4615px; text-align: center;"><strong>256.16</strong></td> <td style="width: 22.3605%; height: 18.4615px; text-align: center;"><strong>+61.5%</strong></td> </tr> <tr style="height: 18.4615px;"> <td style="width: 33.1006%; height: 18.4615px; text-align: center;">Financial Liabilities</td> <td style="width: 16.2014%; height: 18.4615px; text-align: center;">12.82</td> <td style="width: 12.6736%; height: 18.4615px; text-align: center;">1.77</td> <td style="width: 15.67%; height: 18.4615px; text-align: center;">2.03</td> <td style="width: 22.3605%; height: 18.4615px; text-align: center;">+624.3%</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 33.1006%; height: 18.4615px; text-align: center;">Equity</td> <td style="width: 16.2014%; height: 18.4615px; text-align: center;">648.83</td> <td style="width: 12.6736%; height: 18.4615px; text-align: center;">407.78</td> <td style="width: 15.67%; height: 18.4615px; text-align: center;">240.59</td> <td style="width: 22.3605%; height: 18.4615px; text-align: center;">+59.1%</td> </tr> </tbody> </table> <p><strong>Observations:</strong></p> <ul data-spread="false"> <li> <p>Equity-heavy capital structure (over 90% equity).</p> </li> <li> <p>Investments constitute ~86% of total financial assets.</p> </li> </ul> <div><hr /></div> <h3>5. Cash Flow Overview (₹ in Crore)</h3> <table style="width: 66.6927%;"> <tbody> <tr> <td style="width: 47.2986%; text-align: center;">Particulars</td> <td style="width: 17.9507%; text-align: center;">FY25</td> <td style="width: 15.3863%; text-align: center;">FY24</td> <td style="width: 19.0904%; text-align: center;">Growth</td> </tr> <tr> <td style="width: 47.2986%; text-align: center;">Cash from Operations</td> <td style="width: 17.9507%; text-align: center;">278.77</td> <td style="width: 15.3863%; text-align: center;">159.87</td> <td style="width: 19.0904%; text-align: center;">+74.4%</td> </tr> <tr> <td style="width: 47.2986%; text-align: center;">Cash Used in Investing</td> <td style="width: 17.9507%; text-align: center;">(190.09)</td> <td style="width: 15.3863%; text-align: center;">(30.72)</td> <td style="width: 19.0904%; text-align: center;">+518.9%</td> </tr> <tr> <td style="width: 47.2986%; text-align: center;">Net Cash Flow</td> <td style="width: 17.9507%; text-align: center;">(0.84)</td> <td style="width: 15.3863%; text-align: center;">0.74</td> <td style="width: 19.0904%; text-align: center;">-213.5%</td> </tr> <tr> <td style="width: 47.2986%; text-align: center;">Cash Reserves (EoY)</td> <td style="width: 17.9507%; text-align: center;">0.48</td> <td style="width: 15.3863%; text-align: center;">1.24</td> <td style="width: 19.0904%; text-align: center;">-61.3%</td> </tr> </tbody> </table> <p><strong>Key Insight:</strong></p> <ul data-spread="false"> <li> <p>Significant operational cash inflows, yet heavily reinvested.</p> </li> </ul> <div><hr /></div> <h3>6. Key Financial Ratios</h3> <table style="width: 65.2073%;"> <tbody> <tr> <td style="width: 58.1715%; text-align: center;">Metric</td> <td style="width: 21.0914%; text-align: center;">FY25</td> <td style="width: 21.0914%; text-align: center;">FY24</td> </tr> <tr> <td style="width: 58.1715%; text-align: center;">Return on Equity (ROE)</td> <td style="width: 21.0914%; text-align: center;">38.03%</td> <td style="width: 21.0914%; text-align: center;">42%</td> </tr> <tr> <td style="width: 58.1715%; text-align: center;">Debt/Equity Ratio</td> <td style="width: 21.0914%; text-align: center;">0.02</td> <td style="width: 21.0914%; text-align: center;">0.004</td> </tr> <tr> <td style="width: 58.1715%; text-align: center;">Net Margin</td> <td style="width: 21.0914%; text-align: center;">57.50%</td> <td style="width: 21.0914%; text-align: center;">59.79%</td> </tr> <tr> <td style="width: 58.1715%; text-align: center;">EPS (Basic)</td> <td style="width: 21.0914%; text-align: center;">₹321.45</td> <td style="width: 21.0914%; text-align: center;">₹223.06</td> </tr> </tbody> </table> <div><hr /></div> <div><hr /></div> <h3>7. Peer Comparison</h3> <table dir="ltr" border="1" cellspacing="0" cellpadding="0" data-sheets-root="1" data-sheets-baot="1"><colgroup><col width="100" /><col width="100" /><col width="100" /><col width="100" /><col width="100" /><col width="100" /><col width="100" /><col width="100" /></colgroup> <tbody> <tr> <td style="text-align: center;"><strong>Companies</strong></td> <td style="text-align: center;"><strong>AUM (₹ Cr)</strong></td> <td style="text-align: center;"><strong>3Y AUM Growth</strong></td> <td style="text-align: center;"><strong>Revenue (₹ Cr)</strong></td> <td style="text-align: center;"><strong>PAT (₹ Cr)</strong></td> <td style="text-align: center;"><strong>P/E</strong></td> <td style="text-align: center;"><strong>MCap/AUM</strong></td> <td style="text-align: center;"><strong>MCap (₹ Cr)</strong></td> </tr> <tr> <td style="text-align: center;">PPFAS</td> <td style="text-align: center;">103,868</td> <td style="text-align: center;">25.57%</td> <td style="text-align: center;">429.05</td> <td style="text-align: center;">246.6</td> <td style="text-align: center;">39.8</td> <td style="text-align: center;">9.45</td> <td style="text-align: center;">9,815</td> </tr> <tr> <td style="text-align: center;">HDFC AMC</td> <td style="text-align: center;">754,000</td> <td style="text-align: center;">28.22%</td> <td style="text-align: center;">4,050</td> <td style="text-align: center;">2,461</td> <td style="text-align: center;">43.8</td> <td style="text-align: center;">14.32</td> <td style="text-align: center;">107,987</td> </tr> <tr> <td style="text-align: center;">NIPPON AMC</td> <td style="text-align: center;">561,387</td> <td style="text-align: center;">22.96%</td> <td style="text-align: center;">2,518</td> <td style="text-align: center;">1,286</td> <td style="text-align: center;">39.6</td> <td style="text-align: center;">9.08</td> <td style="text-align: center;">50,955</td> </tr> <tr> <td style="text-align: center;">UTI AMC</td> <td style="text-align: center;">339,380</td> <td style="text-align: center;">35.58%</td> <td style="text-align: center;">1,851</td> <td style="text-align: center;">731</td> <td style="text-align: center;">22.6</td> <td style="text-align: center;">4.86</td> <td style="text-align: center;">16,481</td> </tr> </tbody> </table> <p><strong>Key Takeaways:</strong></p> <ul data-spread="false"> <li> <p>HDFC AMC has the highest P/E ratio among peers, reflecting high investor expectations.</p> </li> <li> <p>UTI AMC shows the highest 3-year AUM growth at 35.58%.</p> </li> <li> <p>HDFC AMC dominates in AUM and profitability.</p> </li> <li> <p>PPFAS operates with a leaner base yet delivers high efficiency.</p> </li> </ul> <div><hr /></div> <h3>8. Risks & Opportunities</h3> <p><strong>Risks</strong></p> <ul data-spread="true"> <li> <p><strong>Market Dependency</strong>: Heavy reliance on equity AUM and investor sentiment.</p> </li> <li> <p><strong>Regulatory Overhang</strong>: SEBI policies on TER caps may pressure profitability.</p> </li> <li> <p><strong>Fee Compression</strong>: Increasing competition from passive funds.</p> </li> </ul> <ul data-spread="false"> <li> <p><strong>Strategic Focus Areas:</strong></p> <ul data-spread="false"> <li> <p>Expand SIP penetration in Tier 2/3 markets.</p> </li> <li> <p>Stay adaptive to regulatory shifts around fees and disclosures.</p> </li> <li> <p>Optimize reinvestment flows for consistent cash efficiency.</p> </li> </ul> </li> </ul> <div><hr /></div> <h3>9. Conclusion</h3> <p>PPFAS delivered strong financial results in FY25, with a 72% rise in total revenue and a 43.5% increase in net profit. The company continues to operate efficiently with minimal debt and an investment-heavy asset base.</p> <p>Its high ROE, strong EPS, and growing SIP base—especially from Tier 2/3 cities—underscore long-term sustainability. While it faces market and regulatory risks, its efficient cost structure and expanding investor base offer robust growth potential.</p> <blockquote> <p><em><strong>Disclaimer:</strong> This blog analysis is for educational and informational purposes only. This is not investment advice.</em></p> </blockquote>
<p><strong>Introduction</strong> <br /><br />GobbleCube, an AI-powered growth intelligence platform, is rapidly emerging as a must-have tool for consumer brands navigating the complex world of hyperlocal digital commerce. With over $5.4 million raised in funding and a presence across major global markets, GobbleCube is helping brands unlock data-driven insights to drive sustainable growth.</p> <div><hr /></div> <h3>A) How is GobbleCube Funded and Who Are Its Key Investors?</h3> <ul data-spread="false"> <li> <p><strong>Seed Round:</strong> $1.9M led by <strong>Kae Capital</strong>, <strong>CRV</strong>, and prominent angel investors.</p> </li> <li> <p><strong>Pre-Series A:</strong> $3.5M round led by <strong>InfoEdge Ventures</strong>, with follow-on participation from Kae Capital.</p> </li> <li> <p><strong>Total Capital Raised:</strong> $5.4 million to date.</p> </li> </ul> <p>Top investors have praised the company’s execution, product-market fit, and rapid growth trajectory, positioning GobbleCube for a strong global expansion.</p> <div><hr /></div> <h3>B) What Does GobbleCube Do and How Does Its AI Platform Work?</h3> <p>GobbleCube’s core product is an AI-based "growth copilot" designed for consumer brands. It helps companies automate complex, data-driven decisions in areas like:</p> <ul data-spread="false"> <li> <p><strong>Share of Voice (SOV):</strong> Improve digital shelf visibility and brand recall.</p> </li> <li> <p><strong>Out-of-Stock (OOS) Reduction:</strong> Predict and prevent stockouts across channels.</p> </li> <li> <p><strong>Revenue Leakage Prevention:</strong> Identify and fix gaps that impact topline performance.</p> </li> </ul> <p>Its proprietary AI processes billions of hyperlocal data points—spanning pricing, availability, visibility, and demand gaps—to deliver real-time, actionable insights.</p> <div><hr /></div> <h3>C) What Traction Has GobbleCube Achieved in the Market?</h3> <ul data-spread="false"> <li> <p><strong>Annual Recurring Revenue (ARR):</strong> Achieved $2 million within just 9 months.</p> </li> <li> <p><strong>Client Base:</strong> Trusted by 200+ leading consumer brands including <strong>Reckitt</strong>, <strong>Tata Consumer</strong>, <strong>Nivea</strong>, and <strong>Johnson & Johnson</strong>.</p> </li> <li> <p><strong>Impact:</strong> Proven to deliver <strong>2–3x revenue growth</strong> for partner brands.</p> </li> </ul> <p>With strong presence across <strong>India</strong>, <strong>Southeast Asia</strong>, <strong>US</strong>, <strong>MENA</strong>, and <strong>LATAM</strong>, GobbleCube is building a truly global growth engine.</p> <div><hr /></div> <h3>D) Who Are the Founders Behind GobbleCube?</h3> <p>GobbleCube is led by seasoned entrepreneurs with deep roots in the quick-commerce and e-commerce ecosystem:</p> <ul data-spread="false"> <li> <p><strong>Manas Gupta (CEO)</strong> – Former leadership at Blinkit.</p> </li> <li> <p><strong>Srikumar Nair</strong> and <strong>Nitesh Jindal</strong> – Also ex-Blinkit leaders with rich experience in scaling technology for fast-moving consumer markets.</p> </li> </ul> <p>Their collective expertise gives GobbleCube a unique edge in solving high-impact digital retail problems.</p> <div><hr /></div> <h3>E) What Are Investors Saying About GobbleCube?</h3> <ul data-spread="false"> <li> <p><strong>InfoEdge Ventures:</strong> "GobbleCube is a must-have AI partner for online brands."</p> </li> <li> <p><strong>Kae Capital:</strong> Highlighted the company’s exceptional <strong>execution velocity</strong> and <strong>market fit</strong>.</p> </li> </ul> <p>Such endorsements reflect strong belief in GobbleCube’s long-term vision and execution capability.</p> <div><hr /></div> <h3>F) What Are GobbleCube’s Future Plans?</h3> <p>GobbleCube’s future roadmap focuses on:</p> <ul data-spread="false"> <li> <p><strong>AI Deepening:</strong> Enhancing predictive analytics and real-time decision-making.</p> </li> <li> <p><strong>Platform Extension:</strong> Covering new growth areas such as <strong>performance marketing</strong> and <strong>demand generation</strong>.</p> </li> <li> <p><strong>Global GTM Acceleration:</strong> Driving adoption across geographies, especially in hyperlocal commerce segments.</p> </li> </ul> <p>With a scalable tech stack and an expanding client base, GobbleCube is well-positioned to lead the next wave of AI-led digital commerce transformation.</p> <div><hr /></div> <h3>G) What Are the Key Industry Insights and How Does GobbleCube Benchmark Against Competitors?</h3> <p><strong>Industry Insights:</strong></p> <ul data-spread="false"> <li> <p>The global e-commerce analytics market is projected to reach over $22 billion by 2028, driven by the proliferation of digital-first consumer brands and the growing need for real-time decision-making.</p> </li> <li> <p>With the rise of q-commerce and D2C channels, brands are facing challenges in managing digital shelf presence, competitive pricing, and demand planning across hyperlocal markets.</p> </li> <li> <p>Hyperlocal commerce is gaining momentum in markets like India, Southeast Asia, and LATAM due to urban density, mobile-first consumers, and improved last-mile delivery infrastructure.</p> </li> </ul> <p><strong>Competitive Benchmarking:</strong></p> <ul data-spread="false"> <li> <p><strong>GobbleCube vs. Traditional Analytics Tools:</strong> While legacy analytics platforms focus on dashboards and reporting, GobbleCube emphasizes real-time, predictive intelligence, enabling proactive action over reactive analysis.</p> </li> <li> <p><strong>Compared to Similar Startups:</strong> Companies like CommerceIQ and Flywheel offer similar value propositions, but GobbleCube’s rapid ARR growth ($2M in 9 months) and global reach (across 5 regions) give it an edge.</p> </li> <li> <p><strong>Unique Differentiators:</strong> Deep integration with brand sales data, localized AI-driven insights, and proven outcomes like 2–3x revenue growth make GobbleCube a highly competitive player in the digital retail intelligence space.</p> </li> </ul> <p>GobbleCube isn’t just another SaaS tool—it’s a powerful AI engine that helps brands shift from <strong>reactive to predictive</strong> decision-making. By tackling the nuances of <strong>hyperlocal commerce</strong>, the startup is addressing a <strong>multi-billion-dollar global opportunity</strong>.</p> <p>For consumer brands seeking to win in the digital-first world, GobbleCube is proving to be an essential partner.</p> <p>Visit us at <a href="http://www.unlistedzone.com">unlistedzone</a> for more startup insights and deep-dive analysis.</p> <p><strong>Disclaimer:</strong> This article is for informational purposes only and does not constitute investment advice. Readers are encouraged to conduct their own research or consult a financial advisor before making investment decisions.</p>
<h2 data-pm-slice="1 1 []">A) What’s the Latest Funding Update on Eeki?</h2> <p>Kota-based agritech startup <strong>Eeki</strong> has raised <strong>$7 million</strong> in fresh funding from <strong>Sixth Sense Ventures</strong>, marking a significant milestone after a three-year funding gap. This round brings the <strong>total funds raised by Eeki to approximately $15 million</strong>, including:</p> <ul data-spread="false"> <li> <p><strong>$6.5 million in Series A funding (2022)</strong>, led by General Catalyst</p> </li> <li> <p><strong>$2 million in early 2022</strong>, led by Avaana Capital</p> </li> </ul> <p>This latest infusion of capital is set to <strong>accelerate Eeki’s next phase of growth</strong> in sustainable and scalable farming.</p> <div><hr /></div> <h2>B) How Will Eeki Utilize This Capital?</h2> <p>Eeki plans to deploy the newly raised funds to:</p> <ul data-spread="false"> <li> <p><strong>Expand its climate-resilient farming operations across India</strong></p> </li> <li> <p><strong>Strengthen R&D</strong> to optimize yield and diversify crop varieties</p> </li> <li> <p><strong>Scale the deployment of its Gen 3 aeroponic growing chambers</strong></p> </li> <li> <p><strong>Grow its farming footprint</strong> to reach more non-arable and rural regions</p> </li> </ul> <p>With <strong>30% of its team dedicated to core tech and innovation</strong>, the startup aims to optimize resource usage while enhancing production outcomes.</p> <div><hr /></div> <h2>C) What Makes Eeki’s Farming Model Unique?</h2> <p>At the heart of Eeki’s model is its <strong>patented climate-controlled aeroponic system</strong>, a soil-free farming method where plant roots are suspended in air and nourished with nutrient-rich mist.</p> <h3>Key Features of Eeki’s Innovation:</h3> <ul data-spread="false"> <li> <p><strong>95% less water usage</strong> compared to traditional farming</p> </li> <li> <p><strong>Year-round cultivation</strong>, independent of seasons or soil quality</p> </li> <li> <p><strong>Higher yields and consistent quality</strong> of produce</p> </li> <li> <p><strong>Pesticide-free, nutrient-rich vegetables</strong></p> </li> <li> <p>Viable on <strong>barren or non-arable lands</strong></p> </li> </ul> <p>This approach allows Eeki to offer <strong>farm-fresh vegetables at costs similar to conventional farming</strong>, while tackling challenges like <strong>soil degradation and water scarcity</strong>.</p> <div><hr /></div> <h2>D) What is the Market Size and Growth Potential of Aeroponic Farming?</h2> <h3><strong>Market Opportunity</strong></h3> <ul data-spread="false"> <li> <p>The <strong>Indian agritech market</strong> is projected to reach <strong>$24.1 billion by 2025</strong>, but currently captures only <strong>1% of its potential</strong>.</p> </li> <li> <p>The <strong>global aeroponics market</strong> is expected to grow from <strong>$578 million in 2024 to over $2.1 billion by 2030</strong>, registering a CAGR of <strong>20%+</strong>.</p> </li> </ul> <h3> Key Drivers:</h3> <ul data-spread="false"> <li> <p>Climate change & resource scarcity</p> </li> <li> <p>Urban population growth & demand for fresh produce</p> </li> <li> <p>Government incentives for precision farming and sustainable agri-tech</p> </li> <li> <p>Rising awareness about pesticide-free, local produce</p> </li> </ul> <div><hr /></div> <h2>E) Who Are Eeki’s Competitors in This Space?</h2> <p>While Eeki is a frontrunner in climate-resilient aeroponics, other key players in India’s agritech and precision farming space include:</p> <table style="width: 81.6459%; height: 114.231px;"> <tbody> <tr style="height: 21.9231px;"> <th style="width: 25.316%; height: 21.9231px; text-align: center;"><strong>Startup</strong></th> <th style="width: 48.7828%; height: 21.9231px; text-align: center;"><strong>Core Focus</strong></th> <th style="width: 25.9269%; height: 21.9231px; text-align: center;"><strong>Funding Raised</strong></th> </tr> <tr style="height: 18.4615px;"> <td style="width: 25.316%; height: 18.4615px; text-align: center;"><strong>AgNext</strong></td> <td style="width: 48.7828%; height: 18.4615px; text-align: center;">Quality assessment & analytics</td> <td style="width: 25.9269%; height: 18.4615px; text-align: center;">~$30M</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 25.316%; height: 18.4615px; text-align: center;"><strong>Ninjacart</strong></td> <td style="width: 48.7828%; height: 18.4615px; text-align: center;">Supply chain for fresh produce</td> <td style="width: 25.9269%; height: 18.4615px; text-align: center;">$200M+</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 25.316%; height: 18.4615px; text-align: center;"><strong>UrbanKisaan</strong></td> <td style="width: 48.7828%; height: 18.4615px; text-align: center;">Hydroponic and vertical farming</td> <td style="width: 25.9269%; height: 18.4615px; text-align: center;">Undisclosed</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 25.316%; height: 18.4615px; text-align: center;"><strong>Clover</strong></td> <td style="width: 48.7828%; height: 18.4615px; text-align: center;">Controlled-environment agriculture</td> <td style="width: 25.9269%; height: 18.4615px; text-align: center;">~$8M</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 25.316%; height: 18.4615px; text-align: center;"><strong>Hydroponics India</strong></td> <td style="width: 48.7828%; height: 18.4615px; text-align: center;">Hydroponic systems & consulting</td> <td style="width: 25.9269%; height: 18.4615px; text-align: center;">Bootstrapped</td> </tr> </tbody> </table> <p>However, <strong>Eeki’s patented Gen 3 aeroponic chambers</strong>, coupled with <strong>hardware innovation and strong R&D</strong>, offer a <strong>distinct edge</strong> in precision and scale of climate-resilient farming.</p> <div><hr /></div> <h2>F) What is Eeki’s Long-Term Vision?</h2> <h3>Founders’ Mission:</h3> <ul data-spread="false"> <li> <p><strong>Abhay Singh (CEO)</strong> and <strong>Amit Kumar (Co-founder)</strong> aim to build a <strong>future-ready, scalable food production ecosystem</strong>.</p> </li> <li> <p>The vision: Make <strong>nutritious, pesticide-free food accessible, affordable, and sustainable for all</strong>, regardless of geography or climate conditions.</p> </li> </ul> <blockquote> <p>“This funding marks a pivotal moment toward scaling climate-resilient farming across India and beyond,” said <strong>Abhay Singh</strong>.</p> <p>“With Sixth Sense’s support, we aim to position Eeki as a leader in nutrition and origin,” added <strong>Amit Kumar</strong>.</p> </blockquote> <div><hr /></div> <h2>G) What Do the Investors Say?</h2> <p><strong>Nikhil Vora</strong>, Founder & CEO of <strong>Sixth Sense Ventures</strong>, commented:</p> <blockquote> <p>“Eeki’s breakthrough model has proven itself in India’s toughest farming conditions. Backed by R&D and sharp execution, it has the potential to become the <strong>world’s most efficient farming company</strong>.”</p> </blockquote> <p>The firm was particularly impressed by Eeki’s <strong>cost efficiency, scalability, and science-led approach</strong> to sustainable agriculture.</p> <div><hr /></div> <h2>H) What Does This Mean for the Future of Farming in India?</h2> <p>Eeki is leading the charge toward <strong>climate-smart agriculture</strong>, offering a scalable solution for food production that:</p> <ul data-spread="false"> <li> <p>Tackles <strong>environmental degradation</strong></p> </li> <li> <p>Reduces <strong>water dependency</strong></p> </li> <li> <p>Boosts <strong>local availability of nutritious produce</strong></p> </li> <li> <p>Creates <strong>jobs and infrastructure in non-arable regions</strong></p> </li> </ul> <p>With increasing <strong>government focus on sustainable agriculture</strong> and rising <strong>consumer demand for clean food</strong>, Eeki is well-positioned to disrupt conventional farming norms.</p> <div><hr /></div> <h2>📌 <strong>Final Takeaway</strong></h2> <p><strong>Eeki’s $7 million raise</strong> is not just a funding update—it signals the <strong>rising importance of innovation-led, sustainable farming models</strong> in India. Backed by deep R&D and strong investor confidence, Eeki’s aeroponic technology could become a <strong>blueprint for future agriculture</strong>, ensuring food security while conserving vital resources.</p> <div><hr /></div> <p><strong>Disclaimer:</strong> This article is for informational purposes only and <strong>does not constitute investment advice</strong>. Please conduct your own due diligence or consult a registered financial advisor before making any investment decisions.</p>
<p data-pm-slice="1 1 []">Tata Capital Limited, the financial services arm of the Tata Group, is gearing up for its highly awaited IPO in 2025. In this comprehensive report, we assess the company’s business model, financials, industry standing, unlisted market behavior, and IPO valuation to help investors make informed decisions.</p> <div><hr /></div> <h3>A) Business Model: Diversified Financial Services Ecosystem</h3> <p>Tata Capital operates as an NBFC-ICC (Investment and Credit Company), delivering a wide range of financial products and services:</p> <ul data-spread="false"> <li> <p><strong>Retail & SME Lending</strong>: Housing loans, auto loans, personal and business loans.</p> </li> <li> <p><strong>Commercial Finance</strong>: Corporate loans and structured finance solutions.</p> </li> <li> <p><strong>Wealth & Investment Banking</strong>: Via Tata Securities.</p> </li> <li> <p><strong>Private Equity & Alternatives</strong>.</p> </li> <li> <p><strong>Sustainable Finance</strong>: Through Tata Cleantech Capital for renewable and green projects.</p> </li> </ul> <p><strong>Strategic Advantages:</strong></p> <ul data-spread="false"> <li> <p>Backed by <strong>Tata Sons (92.8% holding)</strong>.</p> </li> <li> <p>Asset Under Management (AUM) of <strong>₹2.2 lakh crore</strong> in FY25.</p> </li> <li> <p>Rated <strong>AAA</strong> by CRISIL, ICRA, and CARE – reflecting strong creditworthiness.</p> </li> </ul> <div><hr /></div> <h3>B) Revenue and Profit Model</h3> <p>Tata Capital generates income primarily from interest on loans and fee-based services such as distribution and advisory.</p> <table style="width: 61.5157%; height: 68.3076px;"> <tbody> <tr style="height: 12.9231px;"> <th style="width: 56.3137%; height: 12.9231px; text-align: center;"><strong>Revenue Source</strong></th> <th style="width: 43.7232%; height: 12.9231px; text-align: center;"><strong>FY25 Amount</strong></th> </tr> <tr style="height: 18.4615px;"> <td style="width: 56.3137%; height: 18.4615px; text-align: center;">Interest Income (Loans)</td> <td style="width: 43.7232%; height: 18.4615px; text-align: center;">₹25,720 crore (+57% YoY)</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 56.3137%; height: 18.4615px; text-align: center;">Other Income (Fees, Investments)</td> <td style="width: 43.7232%; height: 18.4615px; text-align: center;">₹2,650 crore</td> </tr> <tr style="height: 18.4615px;"> <td style="width: 56.3137%; height: 18.4615px; text-align: center;"><strong>Total Income</strong></td> <td style="width: 43.7232%; height: 18.4615px; text-align: center;"><strong>₹28,370 crore</strong></td> </tr> </tbody> </table> <p><strong><br />Profitability Snapshot (FY25):</strong></p> <ul data-spread="false"> <li> <p><strong>Net Profit</strong>: ₹3,655 crore</p> </li> <li> <p><strong>EPS</strong>: ₹9.72</p> </li> <li> <p><strong>ROE</strong>: 10.63%</p> </li> <li> <p><strong>Gross NPA</strong>: 2.33% | <strong>Net NPA</strong>: 0.98%</p> </li> </ul> <p><strong>Cost Structure:</strong></p> <ul data-spread="false"> <li> <p>Interest Cost: ₹15,029 crore</p> </li> <li> <p>Operating Expenses: ₹5,592 crore</p> </li> <li> <p>Provisioning for NPAs: ₹2,827 crore</p> </li> </ul> <div><hr /></div> <h3>C) Industry Landscape: Intense Competition</h3> <p>Using <strong>Porter’s Five Forces</strong>:</p> <ol start="1" data-spread="false"> <li> <p><strong>High Competitive Rivalry</strong> – Bajaj Finance, L&T Finance, HDFC Ltd.</p> </li> <li> <p><strong>Moderate Entry Barriers</strong> – Due to capital requirements and regulation.</p> </li> <li> <p><strong>Medium Customer Power</strong> – Driven by brand and cost of borrowing.</p> </li> <li> <p><strong>High Supplier Power</strong> – Funding dependence on bonds and institutions.</p> </li> <li> <p><strong>Medium Threat from Substitutes</strong> – Digital NBFCs and fintech players.</p> </li> </ol> <div><hr /></div> <h3>D) Unlisted Market Activity: Pricing Trends</h3> <table style="width: 85.5218%;"> <tbody> <tr> <td style="text-align: center; width: 20.0047%;"><strong>Year</strong></td> <td style="text-align: center; width: 22.244%;"><strong>Unlisted Price (₹)</strong></td> <td style="text-align: center; width: 19.2582%;"><strong>Change</strong></td> <td style="text-align: center; width: 38.5164%;"><strong>Remarks</strong></td> </tr> <tr> <td style="text-align: center; width: 20.0047%;">2022</td> <td style="text-align: center; width: 22.244%;">₹300</td> <td style="text-align: center; width: 19.2582%;">-</td> <td style="text-align: center; width: 38.5164%;">Low liquidity phase</td> </tr> <tr> <td style="text-align: center; width: 20.0047%;">2023</td> <td style="text-align: center; width: 22.244%;">₹650</td> <td style="text-align: center; width: 19.2582%;">+117%</td> <td style="text-align: center; width: 38.5164%;">Tata Technologies IPO euphoria</td> </tr> <tr> <td style="text-align: center; width: 20.0047%;">2024</td> <td style="text-align: center; width: 22.244%;">₹850</td> <td style="text-align: center; width: 19.2582%;">+31%</td> <td style="text-align: center; width: 38.5164%;">DRHP buzz</td> </tr> <tr> <td style="text-align: center; width: 20.0047%;">Early 2025 Peak</td> <td style="text-align: center; width: 22.244%;">₹1,050</td> <td style="text-align: center; width: 19.2582%;">+23%</td> <td style="text-align: center; width: 38.5164%;">Pre-IPO sentiment-driven rally</td> </tr> <tr> <td style="text-align: center; width: 20.0047%;">June 2025</td> <td style="text-align: center; width: 22.244%;">₹945</td> <td style="text-align: center; width: 19.2582%;">-10% from peak</td> <td style="text-align: center; width: 38.5164%;">Correction amid realistic pricing</td> </tr> </tbody> </table> <p><strong>Investor Note</strong>: Unlisted shares bought near ₹1,050 face potential markdowns post-listing.</p> <div><hr /></div> <h3>E) Valuation: IPO vs Peers</h3> <p><strong>IPO Details:</strong></p> <ul data-spread="false"> <li> <p><strong>Issue Size</strong>: ₹17,200 crore (Fresh + OFS by Tata Sons)</p> </li> <li> <p><strong>Target Valuation</strong>: ₹1.48 lakh crore</p> </li> <li> <p><strong>Expected Price</strong>: ₹400/share</p> </li> <li> <p><strong>Listing Deadline</strong>: September 2025 (as per RBI's NBFC norms)</p> </li> </ul> <p><strong>Peer Comparison:</strong></p> <table style="width: 64.2664%;"> <tbody> <tr style="text-align: center;"> <td style="width: 24.4986%;"><strong>Company</strong></td> <td style="width: 12.9298%;"><strong>P/E</strong></td> <td style="width: 12.9298%;"><strong>P/B</strong></td> <td style="width: 16.1056%;"><strong>ROE (%)</strong></td> <td style="width: 33.5722%;"><strong>Market Cap (₹ Cr)</strong></td> </tr> <tr style="text-align: center;"> <td style="width: 24.4986%;">Tata Capital</td> <td style="width: 12.9298%;">104.3x</td> <td style="width: 12.9298%;">10.16x</td> <td style="width: 16.1056%;">10.63%</td> <td style="width: 33.5722%;">₹3.81 lakh crore</td> </tr> <tr style="text-align: center;"> <td style="width: 24.4986%;">Bajaj Finance</td> <td style="width: 12.9298%;">34.6x</td> <td style="width: 12.9298%;">5.93x</td> <td style="width: 16.1056%;">19.2%</td> <td style="width: 33.5722%;">₹5.78 lakh crore</td> </tr> <tr> <td style="text-align: center; width: 24.4986%;">L&T Finance</td> <td style="text-align: center; width: 12.9298%;">19.5x</td> <td style="text-align: center; width: 12.9298%;">2.03x</td> <td style="text-align: center; width: 16.1056%;">10.8%</td> <td style="text-align: center; width: 33.5722%;">₹51,608 crore</td> </tr> </tbody> </table> <p><strong><br />Valuation Insight:</strong></p> <ul data-spread="false"> <li> <p>At ₹945/share (unlisted), <strong>P/E: ~104x | P/B: ~10.16x</strong>, indicating <strong>aggressive pricing</strong>.</p> </li> <li> <p>In contrast, Bajaj Finance offers better returns with lower multiples.</p> </li> <li> <p>IPO pricing of ₹400/share implies a much more reasonable <strong>P/E of ~41x</strong> – assuming sustained earnings.</p> </li> </ul> <div><hr /></div> <h3>F) Investment Verdict: Should You Invest?</h3> <p><strong>✔️ Pros:</strong></p> <ul data-spread="false"> <li> <p>Backed by India’s most trusted conglomerate – Tata Group.</p> </li> <li> <p>Robust AUM growth and expanding product suite.</p> </li> <li> <p>Regulatory compulsion ensures listing (RBI deadline).</p> </li> </ul> <p><strong>⚠️ Cons:</strong></p> <ul data-spread="false"> <li> <p>Overhyped valuation in the unlisted market.</p> </li> <li> <p>Asset quality showing early signs of pressure (Rising NPAs).</p> </li> <li> <p>Low margin of safety if bought at peak unlisted prices.</p> </li> </ul> <p><strong>Recommendation:</strong><br /><strong>Avoid FOMO.</strong> While Tata Capital has long-term merit, current unlisted pricing (₹945–1,050) doesn’t offer upside relative to IPO expectations. <strong>Wait for IPO listing</strong> and assess market sentiment post-listing. Compare conservatively with Bajaj Finance before allocating capital.</p> <div><hr /></div> <p><strong>Disclaimer:</strong> This report is for educational and informational purposes only. It does not constitute investment advice. Please consult a SEBI-registered advisor before investing in any financial product.</p> <div><hr /></div>
<p>India just unlocked a new chapter in its clean energy journey! 🌱 PACE Digitek Infra has launched a 5 GWh Battery Energy Storage System (BESS) in Bidadi, Bengaluru — inaugurated by Union Minister Pralhad Joshi. This fully automated facility will store surplus solar and wind energy, strengthening India’s grid stability and helping meet its 500 GW non-fossil target by 2030.</p>
<p>NSE has proposed a massive ₹1,388 crore settlement to SEBI to resolve the co-location and dark fibre cases that have loomed over its IPO plans for years. In this video, we break down what the settlement means, why it's significant, and how it could fast-track NSE’s long-awaited IPO.</p>
<p>PharmEasy co-founders' new venture - All Home - is disrupting India's ₹30,000 crore interior market! With AI, IoT and AR tech, All Home is making renovation 30% cheaper, 40% fast and 100% transparent. Now, on a ₹120 million valuation, it has also raised ₹15 million. Will it become the next unicorn? Watch the whole story!</p>
Indicative prices, company research and your enquiries — in your pocket. Get price notes on the names you follow and reach our team from anywhere.
