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Time of India
25-05-2025
- Business
- Time of India
Info Edge shareholders approve Rs 1,000 crore investment in its VC fund
Shareholders of Info Edge (India) Ltd, the parent of have approved a proposal to invest up to Rs 1,000 crore in Info Edge Ventures Fund III, paving the way for the Noida-based firm to ramp up its startup investments . Smartweb Internet Services Ltd, a wholly owned subsidiary of Info Edge, will act as both the investment manager and sponsor of the fund. 'The members of the company have approved the resolution with requisite majority through remote e-voting/postal ballot,' Info Edge said in a stock exchange filing on Saturday. A total of 1,274 members participated in the vote, of which 1,271 valid votes were considered. The proposal was cleared with 99.9995% votes in favour, cofounder Sanjeev Bikhchandani wrote in a post on X (formerly Twitter). — sbikh (@sbikh) Live Events Info Edge has been an early investor in the Indian startup ecosystem, with bets on companies such as Zomato (now Eternal ) and PB Fintech ( Policybazaar ). 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 Earlier this month, Bikhchandani said in a letter to shareholders that Info Edge's stakes in Zomato and PB Fintech were together valued at Rs 31,500 crore (approx. $3.7 billion) as of March 31, 2025. Investment snapshot: Total capital deployed across startups: Rs 3,959 crore (approx. $467 million) Fair market value of investments: Rs 36,855 crore (approx. $4.3 billion) Gross internal rate of return (IRR): Over 36% annually Number of companies backed: 111 Startups with co-investors/follow-on rounds: 76
Business Mayor
19-05-2025
- Automotive
- Business Mayor
Euler's fundraise; Qcomm, a small piece of FMCG pie
EV maker Euler Motors has raised fresh funding led by Hero MotoCorp. This and more in today's ETtech Top 5. Also in the letter: ■ PB Fintech on the bourses■ Ola's work culture under fire again ■ What to expect at Google I/O Euler Motors raises Rs 638 crore funding in round led by Hero MotoCorp Saurav Kumar, founder, Euler Motors Electric commercial vehicle maker Euler Motors has raised Rs 638 crore in fresh funding. Deal details: The round was led by Hero MotoCorp, marking its entry into electric three- and four-wheelers. Existing investor British International Investment, the UK government's development finance arm, also participated. Euler will use the capital to scale its nationwide sales and service network and fast-track new product development. Tell me more: Hero MotoCorp's investment underscores legacy automakers' growing interest in India's growing commercial EV market. Earlier this year, Hero MotoCorp committed up to Rs 525 crore in Euler Motors over multiple tranches for a 32.5% fully diluted stake. The company, which holds a 30.9% stake in electric two-wheeler maker Ather Energy, did not offload any shares in Ather's recent IPO. Also Read: Euler Motors secures $20 million in debt funding for expansion Quick commerce sprints ahead but still a small slice for FMCG giants Quick commerce has emerged as the fastest-growing channel for consumer goods makers over the past two years, yet it still contributes just 2-4% to most large companies' total sales. Driving the news: Six of the largest fast-moving consumer goods (FMCG) firms reported over Rs 4,400 crore in quick commerce sales in FY25. Several disclosed the channel's percentage contribution to total revenues for the first time during recent earnings calls. HUL: Rs 1,214 crore (2%) Rs 1,214 crore (2%) Britannia: Rs 675 crore (4%) 4% of sales, or Rs 675 crore. Rs 675 crore (4%) 4% of sales, or Rs 675 crore. Tata Consumer Products: Rs 900 crore (7%) Rs 900 crore (7%) Marico: Rs 244 crore (3%) Rs 244 crore (3%) Dabur: Rs 500 crore (4%) Rs 500 crore (4%) Parle Products: 4% share Read More YouTube lifts restrictions on Trump's account Growth channel: Platforms like Blinkit, Swiggy Instamart, Zepto, and BigBasket recorded 50-100% year-on-year sales growth in FY25 for most large FMCG brands. These platforms are also scaling up across new geographies. HUL and AWL Agri Business noted that ecommerce and quick commerce channels offer better margins, thanks to a higher share of premium products sold through these formats. PB Fintech loses post-result gains amid falling markets Alok Bansal and Yashish Dahiya, founders, PB Fintech PB Fintech, the parent company of Policybazaar, gave up its recent gains on Monday despite reporting a near threefold jump in net profit for the March quarter. What's happening: Shares of PB Fintech slipped sharply in early trade after a mildly positive open. The stock closed 3.74% lower at Rs 1,694 on BSE, underperforming the benchmark Sensex, which fell 0.33%. PB Fintech Q4 results: Net profit surged 185% to Rs 170 crore surged 185% to Rs 170 crore Revenue rose 38% to Rs 1,507 crore rose 38% to Rs 1,507 crore Policybazaar's annualised insurance premium collection has more than tripled to Rs 7,030 crore Stock performance: Over the past 12 months, PB Fintech shares have gained 24.6%, but are down 20% year-to-date. In comparison, the Sensex has risen 11% over the past year and 4.5% so far in 2025. The stock's 12-month price target stands at Rs 1,744, implying a potential downside of 2.1%. Ola under fire again: employee suicide sparks fresh criticism of toxic work culture Bhavish Aggarwal, founder, Krutrim Social media has erupted after allegations of toxic work culture surfaced at Ola's AI division, Krutrim. What's the matter? The backlash followed the reported suicide of Nikhil Somwanshi, a machine learning engineer who had been with Krutrim since August last year. The news first emerged via a Reddit post on Thursday, sparking widespread outrage. Ola's response: Ola stated that Somwanshi was on personal leave at the time of the incident. The company noted that he had reached out to his manager on April 8, citing the need for rest, and was granted personal time off. His leave was extended after he expressed the need for additional rest on April 17. Ola said it is cooperating with the authorities and supporting Somwanshi's family. The controversy: A former Ola Krutrim employee claimed, 'They are doing utterly mediocre work with incompetent management and leadership. Toxicity is through the roof, as is nepotism.' Despite repeated queries, Ola did not respond to ET's specific questions about the work environment. Constant churn: Krutrim has witnessed nearly a dozen exits at junior to senior management levels in the past year, including key figures like applied AI director Ashish Kumar and VP of products Vipul Shah. Also Read: Ola Krutrim business head Ravi Jain quits Mental health support: If you or someone you know is struggling, Tele MANAS offers free, 24/7 mental health support via a national toll-free helpline: 14416 / 1800-89-14416. Also Read: Ola Electric's market share dips below TVS amid sharp drop in April sales AI to steal the show at Google I/O 2025 Google will put artificial intelligence front and centre at I/O 2025, which kicks off on May 20. CEO Sundar Pichai, DeepMind cofounder Demis Hassabis, and senior executives are expected to unveil major AI updates. What to expect: The spotlight will be on the Gemini family of AI models, led by the launch of Gemini 2.5 Pro. DeepMind's Project Astra and education-focused LearnLM could also feature prominently. There's growing buzz around a possible preview of Samsung's Android XR headset, Project Moohan, pitched as a competitor to Apple's Vision Pro. Beyond AI: Google may also introduce a Pinterest-style app that allows users to create and share image collections directly from Search results, according to The Information . How to watch: The event starts at 10:30 PM IST (10 AM PT) on May 20 and will be livestreamed from the Shoreline Amphitheatre on Google's official YouTube channel. READ SOURCE businessmayor May 19, 2025
Time of India
19-05-2025
- Automotive
- Time of India
Euler's fundraise; Qcomm, a small piece of FMCG pie
Euler's fundraise; Qcomm, a small piece of FMCG pie Also in the letter: Euler Motors raises Rs 638 crore funding in round led by Hero MotoCorp Deal details: The round was led by Hero MotoCorp, marking its entry into electric three- and four-wheelers. Existing investor British International Investment, the UK government's development finance arm, also participated. Euler will use the capital to scale its nationwide sales and service network and fast-track new product development. Tell me more: Hero MotoCorp's investment underscores legacy automakers' growing interest in India's growing commercial EV market. Earlier this year, Hero MotoCorp committed up to Rs 525 crore in Euler Motors over multiple tranches for a 32.5% fully diluted stake. The company, which holds a 30.9% stake in electric two-wheeler maker Ather Energy, did not offload any shares in Ather's recent IPO. Quote, unquote: Also Read: Quick commerce sprints ahead but still a small slice for FMCG giants Driving the news: HUL: Rs 1,214 crore (2%) Rs 1,214 crore (2%) Britannia: Rs 675 crore (4%) 4% of sales, or Rs 675 crore. Rs 675 crore (4%) 4% of sales, or Rs 675 crore. Tata Consumer Products: Rs 900 crore (7%) Rs 900 crore (7%) Marico: Rs 244 crore (3%) Rs 244 crore (3%) Dabur: Rs 500 crore (4%) Rs 500 crore (4%) Parle Products: 4% share Growth channel: PB Fintech loses post-result gains amid falling markets What's happening: PB Fintech Q4 results: Net profit surged 185% to Rs 170 crore surged 185% to Rs 170 crore Revenue rose 38% to Rs 1,507 crore rose 38% to Rs 1,507 crore Policybazaar's annualised insurance premium collection has more than tripled to Rs 7,030 crore Stock performance: Ola under fire again: employee suicide sparks fresh criticism of toxic work culture A look back: Reports described his frequent outbursts over minor issues, such as missing page numbers and substandard paper quality. He allegedly tore up presentations, imposed unrealistic 2 or 3 AM deadlines, and once made an employee run laps for leaving a gate open. These incidents reportedly led to senior exits across Ola group companies. Perform or perish? Also Read: The latest: Also Read: AI to steal the show at Google I/O 2025 What to expect: The spotlight will be on the Gemini family of AI models, led by the launch of Gemini 2.5 Pro. DeepMind's Project Astra and education-focused LearnLM could also feature prominently. There's growing buzz around a possible preview of Samsung's Android XR headset, Project Moohan, pitched as a competitor to Apple's Vision Pro. Beyond AI: How to watch: EV maker Euler Motors has raised Rs 638 crore in a round led by Hero MotoCorp. This and more in today's ETtech Top 5.■ PB Fintech on the bourses■ Ola's work culture under fire again■ What to expect at Google I/OSaurav Kumar, founder, Euler MotorsElectric commercial vehicle maker Euler Motors has raised Rs 638 crore in fresh funding.'At this stage, as we are thinking about our next ten years, we also wanted to bring investors on our cap table with whom we can build relationships to think over the next five to ten years about how we can build the business,' Euler, founder Saurav Kumar told commerce has emerged as the fastest-growing channel for consumer goods makers over the past two years, yet it still contributes just 2-4% to most large companies' total of the largest fast-moving consumer goods (FMCG) firms reported over Rs 4,400 crore in quick commerce sales in FY25. Several disclosed the channel's percentage contribution to total revenues for the first time during recent earnings like Blinkit, Swiggy Instamart, Zepto, and BigBasket recorded 50-100% year-on-year sales growth in FY25 for most large FMCG brands. These platforms are also scaling up across new and AWL Agri Business noted that ecommerce and quick commerce channels offer better margins, thanks to a higher share of premium products sold through these Bansal and Yashish Dahiya, founders, PB FintechPB Fintech, the parent company of Policybazaar, gave up its recent gains on Monday despite reporting a near threefold jump in net profit for the March of PB Fintech slipped sharply in early trade after a mildly positive open. The stock closed 3.74% lower at Rs 1,694 on BSE, underperforming the benchmark Sensex, which fell 0.33%.Over the past 12 months, PB Fintech shares have gained 24.6%, but are down 20% year-to-date. In comparison, the Sensex has risen 11% over the past year and 4.5% so far in 2025. The stock's 12-month price target stands at Rs 1,744, implying a potential downside of 2.1%.Bhavish Aggarwal, founder, KrutrimBhavish Aggarwal's AI startup, Krutrim, is under fire after the suicide of a 25-year-old employee , triggering widespread concerns about a toxic workplace culture. This is not the first time Aggarwal or his companies have faced such Ola Cabs drew criticism in 2022 when Bloomberg reported on his aggressive and volatile behaviour with questioned, Aggarwal called himself a man of passion who might seem 'rough or rude.'Aggarwal doubled down at the Ola S1 launch in October 2022: 'We're not here to have a nice and easy time. My own personal style is aggressive. We have a culture of high quality and high execution."Reports say Nikhil Somwanshi, who joined Krutrim in August 2024, was overworked, doing the job of three, and subjected to harsh will put artificial intelligence front and centre at I/O 2025, which kicks off on May 20. CEO Sundar Pichai, DeepMind cofounder Demis Hassabis, and senior executives are expected to unveil major AI may also introduce a Pinterest-style app that allows users to create and share image collections directly from Search results, according to The event starts at 10:30 PM IST (10 AM PT) on May 20 and will be livestreamed from the Shoreline Amphitheatre on Google's official YouTube channel.
Time of India
19-05-2025
- Business
- Time of India
PB Fintech shares lose post-result gains amid markets' downturn
PB Fintech , the parent of Policybazaar and Paisabazaar , closed lower after a sharp decline during Monday's trade, losing last week's gains after posting nearly threefold rise in profit for the March quarter. The counter opened slightly higher at Rs 1,762 per share, but dropped sharply in the first leg of trade. The stock hit an intraday low of Rs 1,676.10, before recovering slightly. PB Fintech shares closed 3.74% lower at Rs 1,694 apiece on BSE, compared to 0.33% decline in the benchmark Sensex . PB Fintech Q4 results Last week, PB Fintech reported a 185% rise in net profit to Rs 170 crore for the January-March quarter, against Rs 60 crore in the year-agop period. The financial services company posted a 38% rise in operating revenue at Rs 1,507 crore during the period, compared with Rs 1,089 crore in the corresponding quarter last year. PB Fintech's net profit for the fiscal 2025 went up 439% to Rs 345 crore, compared to Rs 64 crore in the previous fiscal. The improved financials came on the back of PB Fintech's insurance business. Policybazaar's insurance premium collection in the March quarter jumped to Rs 7,030 crore compared to Rs 2,176 crore a year back. Overall, Policybazaar processed Rs 23,486 crore in premiums in the entire financial year 2025. 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 PB Fintech stock performance Over the past 12 months, PB Fintech share has risen 24.6%, while in year-to-date terms it has dropped 20%. The Sensex has risen 11% and 4.5% in these periods, respectively. According to 18 analysts tracking the stock, four have a strong buy rating, four recommend buy, while three have a hold rating for the PB Fintech stock. Five analysts have a sell call on the stock, while two have a strong sell. The 12-month price target for the stock is Rs 1,744, with a potential downside of 2.1%.
Economic Times
15-05-2025
- Business
- Economic Times
Policybazaar Q4 Results: PB Fintech's profit skyrockets 185% YoY to Rs 171 crore, revenue jumps 38%
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Insurance aggregator PB Fintech on Thursday reported a consolidated net profit growth of 185% in Q4FY25 at Rs 171 crore versus Rs 60 crore reported in the year ago period. The company's revenue from operations in the March-ended quarter stood at Rs 1,508 crore, which was up 38% over Rs 1,090 crore in the corresponding quarter of the last financial this, the core online business of Policybazaar contributed Rs 877 crore in the March 31, 2025 ended quarter versus Rs 669 crore in Q4FY24. This translates into a 31% YoY rise. The company said that revenue growth was accompanied with margin improvement across the consolidated PAT for PB Fintech grew 448% from Rs 64 Cr in FY24 to Rs 353 crore (from 2% to 7% margin) in FY25 while company's closing cash balance stood at Rs 5,406 crore at the end of the company reported a 37% YoY rise in its premium at Rs 7,030 crore versus Rs 5,127 crore in the year ago period led by growth in new core insurance revenue was up 46% YoY while its core credit revenue was down 21% renewal / trail revenue stood at an ARR of Rs 817 crore, up from Rs 577 crore last year in the same quarter, which was a 42% growth. The company said that it is a key driver of long-term profit growth."Steady growth continues for Core New Insurance Premium (net of Savings business) at 38% YoY for the quarter. This has ranged around +-5% of 40% for the last 8 quarters. While the health business continues to grow strongly, we have seen a slowdown in our savings business amidst broader market conditions. We continue to improve our customer onboarding & claims support services and Insurance CSAT is consistent at 90%+," a company statement credit revenue for the quarter stood at Rs 115 crore while disbursal was reported at Rs 2,368 crore for the core online business."We continue to strengthen our leadership in New Initiatives with revenue growth of 50% YoY with adjusted EBITDA margin moving from -10% to -6%, with 4% contribution," the filing FY25, the total insurance premium stood at Rs 23,486 crore, which is a growth of 48% YoY while lending disbursal was reported at Rs 20,465 crore, a growth of 38% core online Insurance New Premium grew 45% YoY and Health & Life Insurance New Premium grew 48% YoY.
