Latest news with #KiranCherukuri
Time of India
20-05-2025
- Business
- Time of India
Shiprocket hits IPO runway; Tata ups iPhone ante
Next Shiprocket hits IPO runway; Tata ups iPhone ante Want this newsletter delivered to your inbox? Also in the letter: Shiprocket set to file for Rs 2,000-2,500 crore IPO via Sebi's confidential route Driving the news: Pre-IPO finances: This marks a turnaround from FY24, when its loss widened to Rs 595 crore from Rs 341 crore the previous year. This was mainly due to the financial impact of integrating several acquisitions made in FY23. However, operating revenue rose 21% to Rs 1,316 crore in FY24. About Shiprocket: Also Read: Tatas' Hosur plant starts assembling Apple's iPhones Driving the news: Tell me more: Output boost: 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: ETtech Done Deals: Euler, Curebay, Cloudsek raise fresh capital Euler raises Rs 638 crore: CureBay raises $21 million: Cloudsek raises $19 million: Other Top Stories By Our Reporters UIDAI opens up non-personal Aadhaar data for public good: H-1B visas decline due to strict rules, higher costs: HCLTech appoints Kiran Cherukuri as global head of GCC practice: Uber to offer logistics services through ONDC network: Global Picks We Are Reading Happy Tuesday! Shiprocket is all set to start the process for listing in India, sources told ET. This and more in today's ETtech Morning Dispatch.■ ETTech Done Deals■ HCLTech's new GCC head■ Uber joins ONDC for B2B foraySaahil Goel, CEO, ShiprocketShiprocket is set to file a confidential draft prospectus with the Securities and Exchange Board of India (Sebi) in the next couple of days for its initial public offering (IPO), according to sources familiar with the by Zomato and Temasek, Shiprocket plans to raise Rs 2,000–2,500 crore through its market debut, including a fresh issue of Rs 1,000–1,200 company has appointed Axis Capital, Kotak Mahindra Capital, JM Financial and Bank of America as advisors for the became cash-flow positive in FY25, an investor told in 2012, the company provides shipping solutions to direct-to-consumer (D2C) brands and small sellers, who account for 70-80% of its revenue.A source added that ahead of its IPO, Shiprocket is doubling down on three core growth areas: payments, cross-border logistics, and quick Electronics has started assembling iPhone models at its new unit within the Hosur manufacturing facility, people aware of the development told company is assembling the iPhone 16 and iPhone 16e across two dedicated assembly lines, with plans to expand to at least four. Each end-to-end assembly line can employ up to 2,500 workers. Once fully operational, the Hosur plant is expected to surpass the scale of Tata's Wistron move marks a significant step for Apple as it diversifies its manufacturing footprint beyond China. US president Donald Trump recently told CEO Tim Cook that he didn't want the iPhone maker 'building in India.' 'As Apple looks to deepen its footprint in India and reduce its reliance on China, the presence of two strong, mature suppliers will be instrumental in enabling that growth, said Prabhu Ram, vice president, industry research group, at CyberMedia Electronics is also ramping up production of iPhone enclosures at Hosur. As ET reported on May 12, the company plans to double its capacity of around 50,000 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 Kumar, founder, Euler MotorsElectric commercial vehicle maker Euler Motors raised Rs 638 crore in a new funding round led by Hero MotoCorp. This marks the legacy two-wheeler giant's entry into the electric three- and four-wheeler space. Euler will use the funds to expand its nationwide sales and service network and ramp up new product hybrid healthcare platform CureBay raised $21 million in fresh funding led by Bertelsmann India Investments. British International Investment (BII) and existing investor Elevar Equity also participated in the funding round. The company will use the funds to bolster its in-house, proprietary tech stack, expand its footprint, and increase cybersecurity firm Cloudsek raised $19 million in a funding round led by Tenacity Ventures and Commvault. Inflexor Ventures, MassMutual Ventures, and Prana Ventures also joined the Unique Identification Authority of India (UIDAI) will make non-personal Aadhaar dashboard data public , which will provide insights into the biometric ID's usage and adoption across the country.H-1B visa registrations for FY26 declined 26.5% compared to FY25 at 358,737. The number of selected registrations stood at 120,141, the lowest in the last five years, amid the Trump administration's stringent visa regime and increased will be responsible for scaling HCLTech's global capability centre (GCC) practice by bringing focused offerings and corporate functions is set to roll out B2B logistics services through the government-backed Open Network for Digital Commerce (ONDC) network, offering businesses on-demand delivery services.■ Pharma giant Regeneron to buy 23andMe and its customers' data for $256M ( TechCrunch ■ We 3D-printed Luigi Mangione's ghost gun. It was entirely legal ( Wired ■ Why AI advancement doesn't have to come at the expense of marginalised workers ( Rest of World
Time of India
19-05-2025
- Business
- Time of India
HCLTech appoints Kiran Cherukuri as global head of GCC practice
HCLTech on Monday announced the appointment of Kiran Cherukuri as global GCC practice leader . In this role, Cherukuri will be responsible for scaling HCLTech's global capability centre (GCC) practice by bringing focussed offerings that leverage the company's services and technology portfolio, as well as corporate functions capabilities, the third-largest IT player said in a statement. HCLTech partners with over 200 GCCs in the country. "GCCs are poised to deliver higher value through the transformation of technology and skills,' said Cherukuri. The appointment comes as a slew of India's IT services companies , in a bid to offset the loss of business share to GCCs, are setting up dedicated divisions with separate leadership and teams to help multinational corporations (MNCs) establish such facilities here and provide tailored services, ET reported in March. Live Events Companies driving these initiatives include Accenture, Cognizant, Infosys , Wipro , Capgemini, Tech Mahindra and Persistent Systems . Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Larger peer Infosys, for instance, is also expanding capabilities with a GCC practice and has appointed Deval Shah to lead this, as per reports from April. Mid-last year, HCLTech chief C Vijayakumar told ET that the company will focus on opportunities to build India centres for its global clients, dismissing fears of more insourcing eating into the share of Indian software exporters. Around October, Everest Group estimated the revenue generated by IT and business process service providers from GCCs and GCC-related support at $20 billion, with Indian GCCs contributing much of this. "GCCs have evolved into centres of strategic digital innovation for global enterprises. HCLTech plans to double down on this fast-growing segment with a sharp focus on India,' said Rahul Singh, chief operating officer-corporate functions, HCLTech. Cherukuri has worked with HCLTech for over 14 years, contributing significantly to digital foundation services, engineering and R&D services, industry solutions and talent solutions. He successfully set up global delivery centres and managed business development, alliances and marketing.
Business Standard
19-05-2025
- Business
- Business Standard
HCL Technologies appoints Kiran Cherukuri as Global GCC Practice Leader
HCL Technologies (HCL Tech) announced the appointment of Kiran Cherukuri as Global GCC Practice Leader. In his new role, Kiran will be responsible for scaling HCLTech's Global Capability Center (GCC) practice by bringing focused offerings that leverage HCLTech's services and technology portfolio as well as corporate functions capabilities. To date, HCLTech has been a partner to over 200 GCCs in India.
