Bengaluru-based Groww, now the largest stock broking firm in India by active investors, has just reported an impressive financial performance for the fiscal year ending March 2024. The company’s revenue more than doubled to ₹2,900 crore, up from ₹1,295 crore in the previous year. Its net profit also saw a significant leap, soaring to ₹298 crore from just ₹73 crore in FY23.
This growth…
Accenture is ramping up its focus on Indian talent, with plans to significantly increase technology hiring in the country. CEO Julie Sweet announced that the company will primarily recruit in India, aiming to refresh its workforce with new college graduates while adhering to its existing talent strategy.
During an investor call, Sweet stated, “We are hiring primarily in India, so a lot of that…
Engine, previously known as Hotel Engine, has secured $140 million in Series C funding led by a private equity firm advised by Permira, boosting its valuation to $2.1 billion. This marks a significant 62% increase from its prior valuation of $1.3 billion following a $65 million Series B round in late 2021.
This growth comes amid a challenging environment where many startups are facing flat or…
Edtech unicorn Physics Wallah (PW) has successfully raised $210 million in its latest Series B funding round, which was led by Hornbill Capital. This substantial investment marks a significant leap for the startup, bringing its post-money valuation to an impressive $2.8 billion. The funding round also included participation from Lightspeed Venture Partners and existing investors such as GSV and…
Turning a brilliant idea into a million-dollar success story often requires more than just creativity; it demands a systematic approach. The scientific method, traditionally used in research, can be a powerful tool in entrepreneurship to refine products, drive growth, and achieve financial success. Here’s how applying this structured approach can help transform your idea into a lucrative…
VerSe Innovation Enhances Ad Tech with Strategic Acquisition of Valueleaf Group
VerSe Innovation, the parent company of popular news aggregator Dailyhunt and short video platform Josh, has announced the acquisition of a majority stake in Valueleaf Group, a leading data-driven digital marketing solutions provider. This strategic move, disclosed on August 28, aims to bolster VerSe Innovation’s ad…
LG Electronics Inc. is contemplating an initial public offering (IPO) for its India business as part of its strategy to achieve a $75 billion revenue target by 2030. This marks the first time the South Korean company, which competes with industry giant Samsung Electronics Co., has publicly discussed the possibility of listing its Indian operations.
CEO William Cho revealed that an Indian market…
PhonePe, the Walmart-backed fintech giant, has announced a significant milestone by turning profitable for the fiscal year 2024, excluding costs related to employee stock options (ESOPs). The company reported a profit after tax (PAT) of ₹197 crore, excluding ESOP expenses, marking a dramatic turnaround from a loss of ₹738 crore in FY23.
In a statement released on Monday, PhonePe highlighted…
Shares of Mamaearth’s parent company, Honasa Consumer Ltd, experienced a notable increase of 4.47% on Monday, reaching a high of Rs 403.55. This uptick in stock value follows the announcement that The Derma Co, a prominent skincare brand under Honasa, has achieved an impressive annual revenue rate (ARR) of Rs 500 crore.
The Derma Co’s ARR represents a significant growth from the Rs 350 crore…
Hero Motors, a key player in the auto-components sector under the Hero Motors Company (HMC) Group, has taken a pivotal step toward going public. On August 23, the company submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), marking the beginning of its initial public offering (IPO) process. The IPO aims to raise ₹900 crore, comprising a fresh…
