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Time of India
28 minutes ago
- Time of India
FirstCry trims Q1 loss; Fractal's Rs 4,900-crore IPO
Next FirstCry trims Q1 loss; Fractal's Rs 4,900-crore IPO Want this newsletter delivered to your inbox? Also in the letter: FirstCry trims net loss in Q1, revenue rises Financials: Net loss stood at Rs 66.5 crore, down 12% (YoY). Consolidated revenue from operations rose 12.7% YoY to Rs 1,862 crore, up from Rs 1,652 crore a year earlier. Compared to the March quarter, revenue dipped 3.5%, though losses also eased. Tell me more: Nykaa, Mamaearth shares surge on Q1 profits Nykaa: Honasa Consumer: Also Read: Fractal Analytics eyes Rs 4,900 crore IPO By the numbers: Fresh issue: Rs 1,279.3 crore OFS: Rs 3,620.7 crore from Apax Partners (Rs 1,462 crore), TPG (Rs 1,999 crore), and early angels. Between the lines: Between the lines: Zoom out: BlueStone Jewellery IPO subscribed 2.70 times The Qualified Institutional Buyers (QIBs) portion led with 4.28x subscription Retail Individual Investors (RIIs) came in at 1.35x. The Non-Institutional Investors (NII) segment was subscribed 55%. Issue details: Rs 820 crore in fresh issue 1.39 crore shares in an offer-for-sale from existing investors, including Accel, Saama, Kalaari, Iron Pillar, and Sunil Kant Munjal At the top price band, BlueStone commands a valuation of Rs 7,823 crore. Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: 'You liar': Online spat between Elon Musk and Sam Altman heats up 'You liar': Yes, and: War of bots: What's behind Perplexity's $34.5 billion bid for Google Chrome Why it matters: Between the lines: What's next: Also Read: Perplexity opens India stock and crypto data Why it matters: Details: Crypto data comes via Coinbase. Usage of Perplexity Finance has jumped 8x since launch. The tab joins Travel and Education in Perplexity's growing vertical suite. Explainer: US shifts H-1B to wage-based picks Why it matters: Catch up: Between the lines: What's next: Mother and baby care retailer FirstCry narrowed its losses in the first quarter of FY26 as sales grew. This and more in today's ETtech Top 5.■ Musk-Sam Altman feud heats up■ Perplexity comes for Google Chrome■ Salary to decide H-1B picksBrainbees Solutions, the parent of mother and baby care retailer FirstCry, narrowed its consolidated net loss by 12% year-on-year (YoY) in the quarter ended board approved an additional Rs 19.96 crore investment in Globalbees, its house of brands arm, using proceeds from its upcoming initial public offering (IPO).Investors cheered quarterly results from beauty and personal care players Nykaa and E-commerce Ventures, the parent of Nykaa, posted a 79% jump in net profit to Rs 24 crore for the April–June period. Operating revenue climbed 23% year-on-year to Rs 220.75 of the company ended 4.93% higher at Rs 215.05, with an intraday high of Rs 220.75. The market cap stood at Rs 61,520 at Mamaearth parent saw a 2.7% rise in net profit to Rs 41 crore. Revenue grew 7% to Rs 595 rose 6.15% to Rs 284.60, after touching an intraday peak of Rs 304.98. Its market value closed at Rs 9,256 Velamakanni, cofounder, Fractal AnalyticsAI and analytics firm Fractal Analytics has filed for a Rs 4,900 crore IPO with Sebi , targeting a December listing on the NSE and BSE. If successful, it could become India's first pure-play AI company to go Srikanth Velamakanni and Pranay Agarwal together own 20%. Employees hold 17% through Esops—potentially minting over 100 new millionaires. Fractal's valuation climbed to $2.4 billion after a $172 million secondary sale . It turned unicorn in 2022 following TPG's $360 million serves top-tier Fortune 500 clients, with 65% revenue coming from the US. The listing joins a packed 2025 pipeline alongside InMobi and Capillary Singh Kushwaha, CEO, BluestoneOmnichannel jewellery retailer BlueStone saw its IPO subscribed 2.70 times on the final day of share sale on Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship opportunities. The public brawl between Elon Musk and Sam Altman is spiralling, with personal attacks now front and centre. Musk branded the OpenAI CEO a 'liar' on X, accusing him of misleading the public amid their ongoing war of words. The post quickly drew widespread attention, leaving many asking: What triggered this now?Musk was furious after Altman suggested the billionaire manipulated X's algorithm to promote his own posts and companies—just as Musk threatened Apple with legal action for allegedly boosting OpenAI on the App Store.'You got 3M views on your bulls**t post, you liar,' Musk wrote. 'Far more than I've received on many of mine, despite me having 50 times your follower count!"Altman double down, challenging Musk to swear under oath that he never interfered with the algorithm. 'I will apologize if so,' Altman fuel to the fire, Musk's own xAI chatbot Grok backed Altman. It cited 2023 reports saying Musk had a history of tweaking X's algorithm to serve his interests. Musk hit back by sharing a screenshot from ChatGPT claiming he's more trustworthy than Srinivas, Perplexity AIPerplexity AI has stunned the tech world with an audacious $34.5 billion all-cash offer for Google's browser Chrome. It's a bold move, especially for a company valued at just $14 billion. However, it's not without over 3 billion users, Chrome gives Perplexity instant access to a massive distribution channel. The timing is strategic, too: US regulators are pressuring Google to sell Chrome after a federal judge ruled it had abused its 90% search dominance. While Google is lobbying for softer remedies, the Department of Justice wants full CEO Aravind Srinivas says the offer ensures Chrome remains open-source. The company has pledged a $3 billion investment over two years, though financial details remain unclear. Still, Perplexity claims the money is ready and waiting.A court ruling is due this month. Even if the bid doesn't succeed, it's a clear signal that Perplexity wants to muscle into AI search and is willing to go all AI has rolled out free access to Indian stocks and crypto data via its Finance tab, offering BSE, NSE and crypto information that's usually users now get historical prices, volumes, earnings, and stock screening tools – features often locked behind broker and fintech Trump administration has backed a key change to the H-1B visa programme: selecting applications based on salary levels instead of a random move is significant, particularly for Indian tech workers, who typically account for over 70% of the 85,000 annual H-1B new model favours higher-paying roles. A $213,000 Level 4 software engineer in San Francisco would now rank ahead of a $135,000 Level 1 position. That could squeeze out entry-level hires and pressure employers to boost salaries and raise costs in the process. This proposal echoes a 2021 Trump-era rule that was shelved after legal IT firms and US tech giants may need to rethink hiring strategies, with knock-on effects on diversity and talent will open a public comment window for up to 60 days. Final implementation could take months, but the industry is already preparing.
Time of India
28 minutes ago
- Time of India
ED raids against Rohtas Projects for ₹248-crore 'fraud' with home buyers
NEW DELHI | LUCKNOW: The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based realty group as part of a money laundering probe against it for allegedly duping investors to the tune of Rs 248 crore, official sources said. At least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act ( PMLA ), they said. The money laundering case stems from as many as 87 FIRs filed by home/commercial space buyers since 2021 alleging they were duped and not given their properties. As per a forensic audit conducted by the UP RERA (Uttar Pradesh Real Estate Regulatory Authority), the "proceeds of crime" in this case is Rs 248 crore, the sources said. The searches are being conducted with an aim to find evidence and the assets of the promoters for attachment as they are "absconding" since the last four years, the sources claimed. The promoters of the company have been identified as Piyush Rastogi , Paresh Rastogi and Deepak Rastogi. The promoters or their legal representatives could not be contacted immediately for a comment on the ED action against them.
India.com
28 minutes ago
- India.com
Shah Rukh Khan will make premium liquor with son Aryan Khan, joins hand with this liquor company and Zerodha's…
Spirit maker Radico Khaitan on Tuesday announced 'D'YAVOL Spirits', a new venture with actor Shah Rukh Khan, his son Aryan, and Zerodha brokerage's Nikhil Kamath. Radico Khaitan said it will invest Rs 40 crore for a 47.5 per cent stake in D'YAVOL BV and D'YAVOL India, and be the largest shareholder, as per an exchange filing. Shah Rukh Khan had launched D'YAVOL as a luxury brand with his son Aryan. The new venture will rely on Radico's distribution and marketing, and D'YAVOL team's creative abilities, and will launch a luxury tequila soon. What Radico Khaitan Said About New JV? Abhishek Khaitan, the managing director of Radico Khaitan, said this is a long-term investment for the company in the luxury spirits segment. Khan said the partnership is seeking to build something 'bold, relevant and future-facing', while his son Aryan said the ambition is to build a brand which 'lives in culture'. The brand intends to compete anywhere in the world, Kamath said, adding that premium alcohol is no longer defined by geography. Radico Khaitan Managing Director Abhishek Khaitan said, 'With Diageo Spirits, we are going to begin a bold new chapter.' He added that this is a long-term investment essential for the company's growth. Radico Khaitan is one of India's oldest liquor manufacturers, established in 1943. What Radico Khaitan Does? It was originally known as Rampur Distillery. In the 1970s, G.N. Khaitan, father of Lalit Khaitan, acquired the company. In 1998, the company launched its PM Whisky. Radico Khaitan has extensive experience in blending, marketing, and distribution. It operates three distilleries with a total capacity of 321 million litres, and its products are sold in over 100 countries. The objective of this partnership is to capture India's premium spirits market, as alcohol consumers in the country are now shifting their preference from traditional products to higher-quality offerings. (With Inputs From PTI)
