Latest news with #Barnwal
Time of India
23-06-2025
- Business
- Time of India
Meesho completes India flip; PayU breaks even in FY25
Meesho completes India flip; PayU breaks even in FY25 Also in the letter: Meesho concludes reverse flip process; likely to file DRHP in 2-3 weeks Driving the news: The SoftBank-backed company secured approval from the National Company Law Tribunal (NCLT) on May 27 to proceed with its reverse flip. As part of the move, the company is expected to face a tax liability of $280-300 million in the United States. With this, Meesho joins a growing list of high-profile startups, including Groww, Razorpay, Dream Sports, Zepto and PhonePe, that have redomiciled to India in recent years. Quote, unquote: Tell me more: Meesho filed for NCLT approval of the reverse merger in January. Around the same time, it closed a $550 million funding round, bringing in new investors including Tiger Global, Mars Growth Capital, and Think Investments. Meanwhile, Meesho's ecommerce rival, the Walmart-owned Flipkart, is also preparing to shift its domicile from Singapore to India ahead of a planned 2026 IPO. PayU India revenue rises 12% to Rs 4,300 crore in FY25 Revenue growth: The company posted a 12% year-on-year rise in revenue to $498 million (approximately Rs 4,317.6 crore) for the fiscal year ended March 31, 2025. Total payment volume (TPV) grew 14%, led by increased activity across financial services, government, airlines, and food delivery segments. Regulatory greenlight: Holding on: Prosus surpasses financial targets with $7.4 billion annual earnings Highlight: Also Read: 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: Zerodha's Kamath brothers pick Rs 250 crore minority stake in InCred Setting the stage: Quote, unquote: Backstory: Smartphone brands shift focus to offline sales in smaller towns Driving sales: Changing tack: Motorola brought down its online shipments to 64% in Q1 2025 from 82% a year ago. OnePlus also reduced its online share to 71%, compared to 85% in the same period. Xiaomi now garners 39% of its volumes from ecommerce, down from 45% in Q1 2024. Slow growth: Chart-ed: Fast fashion fuels closet overload Meesho has moved its base to India, completing its reverse flip, as per filings seen by ET. This and more in today's ETtech Top 5.■ Kamath brothers' InCred investment■ Smartphone sales go local■ Cheap fashion, full closetsSanjeev Barnwal and Vidit Aatrey, founders, MeeshoEcommerce marketplace Meesho has completed its reverse flip and shifted its domicile to India, according to filings with the Registrar of Companies reviewed by ET."Meesho's board met late on has approved the merger and share allotment to investors of the US entity. It is now a fully Indian company," one of the persons said. The company is expected to file its draft IPO prospectus in the next two to three India's payments business broke even in the second half of FY25 , fuelled by stronger revenue growth from deeper penetration among existing merchants and a sharper focus on value-added services, according to its parent company, Prosus' latest annual this year, PayU received final approval from the Reserve Bank of India (RBI) to operate as a payment aggregator, following in-principle clearance over a year prior. To bolster its real-time payments stack, it also acquired a 70% stake in banking tech firm Mindgate Solutions for $68 Amsterdam-based investment also stated that it was planning to delay PayU's planned 2025 listing, with its CFO Mico Marais telling Reuters that it would want to 'improve that business.'Earlier on Monday, Dutch tech investor Prosus also posted a $179 million profit for the year ended March 31, 2025, completing a turnaround from a $118 million loss a year earlier. It reported core headline earnings of $7.4 billion for the whole year, a 47% jump from last year, beating its financial targets on the back of growth in food delivery and said its ecommerce revenue rose 21% to $6.2 billion, driven by AI-led innovation and growth across Latin America, Europe and 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 Kamath and Nikhil Kamath, cofounders, ZerodhaNithin and Nikhil Kamath, cofounders of stockbroking platform Zerodha, have acquired a minority stake in InCred Holdings , the parent company of the non-banking financial firm InCred Financial Services. The deal was executed through a share purchase worth Rs 250 investment comes at a crucial juncture for InCred, which is preparing for a potential Rs 4,000-crore initial public offering (IPO). Last week, its wealth management arm, InCred Wealth, expanded into the retail broking segment by acquiring discount broking platform Stocko 'India's credit ecosystem is changing fast—more formal, more digital, and more accessible,' said Nikhil Kamath. 'InCred Group seems to get that. They've built a strong team, a technology-first approach, and a clear view of where the market is headed.'In 2022, InCred Finance merged with KKR India Financial Services, creating a consolidated NBFC platform. The company reached unicorn status in December 2023 after raising $60 million in a Series D round led by high-net-worth individuals, valuing it at around $1.04 brands are increasingly moving beyond metro cities , turning to offline retail channels in smaller towns to drive growth. This marks a clear departure from their earlier dependence on ecommerce are targeting customers in tier-2 and tier-3 cities with easier access to financing, especially as demand for premium handsets picks up in these the same time, shipments to online retailers declined for the seventh consecutive month in April. Market trackers attribute this drop to online-first brands making a deliberate shift towards physical online platforms losing momentum, nearly all brands have scaled back volumes through online channels. Even those that built their presence on online platforms are now rebalancing their distribution insiders say brands are increasingly aware that ecommerce penetration in India is plateauing. A large share of the country's smartphone market still depends on local retail stores, where in-person interactions and financing options often play a bigger role in purchasing decisions.A recent survey by Statista reveals a shopping trend in which both men and women often purchase clothes that they never especially women, frequently purchase clothing items from fast fashion brands. Among the surveyed countries, the United Kingdom ranks highest, with 29% of female and 17% of male respondents often buying clothes they never wear. India follows closely, with 25% of women and 18% of men reporting the same.
Time of India
04-06-2025
- Business
- Time of India
Stubble burning cases rise more than twofold from last year in division
Indore: Indore division has reported more than a twofold rise in stubble (crop residue) burning incidents after Rabi crop cultivation this year. This increase has prompted the state govt to explore action, including depriving farmers of direct financial benefits under the 'Kisan Samman Nidhi Yojana'. According to official records, all eight districts under Indore division reported a total of 1,225 incidents of stubble burning between March 15 and June 30 last year. However, the figure is more than double from March 15 and May 29 this year. Against last year, this time, a total of 3,297 incidents were reported till May 29. The maximum incidents of stubble burning were reported in Indore district, with 1,544 this year, while a total of 608 incidents were reported last year. The neighbouring district, Dhar, followed Indore by reporting a total of 1,258 incidents of stubble burning this year, compared to 470 reported last year after the Rabi season. However, three tribal-dominated districts, including Jhabua, Alirajpur, and Barwani, reported incidents in single digits this year as well as last year. Stubble burning incidents in Burhanpur, which had reported a total of six incidents last year, increased to 18 this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo This official data was revealed and discussed on Wednesday in a divisional meeting to review the Rabi-2025 season and plan for Kharif-2025, chaired by agriculture production commissioner Ashok Barnwal in Indore. He warned that those found burning stubble would be deprived of 'Kisan Samman Nidhi'. Despite issuing warnings, imposing penalties, and even lodging FIRs against farmers involved in stubble burning in Indore and other districts, a multifold rise in incidents was reported this year. The administration fined farmers for stubble burning, with penalties ranging from Rs 2,500 to Rs 15,000, depending on the size of the land. Despite the fines, the violators view the costs of alternatives like mechanical removal as higher than the penalty, sources said. According to experts, there is no 'proper' solution that farmers currently have, nor is the govt offering them a way to get rid of stubble to prepare the agricultural field for the next year. Collectors Present Their Innovative Approach In Agriculture The divisional level meeting on Wednesday saw agriculture production commissioner Ashok Barnwal reviewing the schemes, programmes, and achievements of agriculture, horticulture, food processing, cooperation, and other related institutions. Collectors from all eight districts presented the innovations being undertaken in the agricultural sector in their respective areas. Barnwal particularly commended Jhabua collector Neha Meena for her innovative approach in agriculture, specifically for the successful production of arhar (pigeon pea) Pusa-16, which yielded excellent results. He encouraged officials to urge farmers to focus on cultivating high-value crops. The commissioner directed cooperative bank officials to expedite agricultural loan recovery. He warned against any negligence, irregularity, or indiscipline in duties, stating that strict action would be taken against defaulting officers.
Time of India
04-06-2025
- Business
- Time of India
State govt aims to boost milk production
Indore: The state govt, which set an ambitious target to significantly increase its milk production, aims to contribute 20% of the nation's total output—a substantial jump from its current 9%. It is focusing on improving animal breeds through the effective and results-oriented implementation of artificial insemination programs. This directive came from Agriculture Production Commissioner Ashok Barnwal during a divisional review meeting held in Indore on Wednesday. Addressing the meeting, Barnwal extensively reviewed schemes, programs, and activities related to Animal Husbandry, Veterinary Services, Dairy Development, Fishermen Welfare, and Fisheries departments. He emphasised promoting cow rearing and ensuring that well-managed cow shelters receive maximum benefits from govt schemes and facilities. The senior officials urged all collectors of the Indore division, who attended the meeting, to prioritise efforts to boost milk production in their respective districts, stating that the state govt launched special programs to achieve this target. Barnwal also stressed the importance of improving animal breeds through the effective and results-oriented implementation of artificial insemination programs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Amazon CFD : La clave para un ingreso extra (Conoce más) Empezar ahora Registrarse Undo He directed all Zila Panchayat CEOs to make special efforts to connect more beneficiaries with poultry and goat farming activities. Furthermore, he called for increasing milk collection through dairy cooperative societies and bringing more livestock farmers into their fold. Recognising the significant potential in fisheries production, Barnwal called for the adoption of state-of-the-art techniques to make it economically viable. He specifically highlighted cage farming as a rapidly emerging and profitable method, urging its widespread adoption. Officials were directed to set district-wise targets for cage farming and ensure their timely completion. He also encouraged the biofloc method, which allows for higher production in smaller spaces. Barnwal emphasised that these modern techniques could transform fisheries into an effective means of self-employment for rural youth.
