Author: Vijaya
The landscape for Indian startup IPOs is experiencing unprecedented momentum, with investment giant UBS highlighting India’s strategic advantages in their latest report. Tamil Nadu’s vibrant startup ecosystem, particularly in Chennai’s IT corridor, is positioning itself to capitalize on this national trend.The transformation of India’s startup ecosystem from 2015 to 2025 has been remarkable, with the country now home to over 70,000 startups and 119 unicorns, attracting $158 billion in funding. Tamil Nadu’s contribution to this growth has been significant, with Chennai alone hosting over 1,500 startups and multiple unicorns in diverse sectors from SaaS to deep tech.”We’re seeing a fundamental…
In a significant market movement, Ola Electric’s shares climbed sharply on the Bombay Stock Exchange (BSE) today, showcasing investor confidence in the company’s latest product expansion and strategic direction in Tamil Nadu’s burgeoning EV ecosystem.The Bhavish Aggarwal-led company saw its stock surge nearly 8% to reach INR 80.75 during intraday trading on February 1, before settling at INR 77.01, marking a 3% increase from its previous close of INR 74.79. The rally pushed the company’s market capitalization to INR 33,967.80 crore, reinforcing its position as one of India’s leading EV manufacturers.The stock’s upward trajectory coincides with Ola Electric’s ambitious launch…
In a significant development that could reshape Chennai’s urban mobility landscape, thousands of auto and cab drivers have launched an indefinite boycott of ride-hailing majors Ola and Uber starting February 1, 2025. The protest, led by Urimaikural Ottunar Thozhirsangam (Urimaikural drivers trade union), centers around excessive commission rates and concerns over driver safety protocols.The boycott comes after months of unresolved tensions between drivers and the ride-hailing giants. On January 27, the union formally notified both Ola and Uber of their intended action, citing persistent grievances over commission structures that reportedly take up to 30% of their daily earnings.”The current commission…
In a significant escalation of BYJU’S legal challenges, a federal judge has held the company’s manager Vinay Ravindra and business ally Rajendran Vellapalath in contempt of court, imposing potential daily fines of $25,000. This development marks another setback for the edtech giant, which has been grappling with multiple legal and financial challenges in both India and the United States.The contempt order stems from their refusal to answer questions regarding the seizure of assets from BYJU’S US-based subsidiaries, Epic! and Tangible Play. The case has drawn particular attention in Tamil Nadu’s startup ecosystem, where BYJU’S maintains significant operations and serves as…
Trifecta Capital, India’s pioneering venture debt firm, has marked a significant milestone with the first close of its fourth and largest venture debt fund, targeting ₹2,000 crore with an additional greenshoe option of ₹500 crore. The announcement signals growing confidence in India’s startup ecosystem, particularly in emerging tech hubs like Tamil Nadu, where the firm sees substantial growth opportunities.While the exact amount remains undisclosed, the firm has secured commitments for approximately half of the targeted fund size, demonstrating strong investor interest despite current market conditions. The final close is expected by the end of 2024, positioning Trifecta to expand its…
Lenskart, the omnichannel eyewear unicorn, has taken a significant step toward its initial public offering (IPO) by appointing Kotak Mahindra Bank and Morgan Stanley as lead bankers for its potential Mumbai listing this year. This development marks a crucial milestone in the company’s journey from a startup to a publicly-traded entity.According to sources familiar with the matter, the company is actively working to expand its roster of investment bankers as it targets an ambitious pre-IPO funding round of approximately $1 billion. The move comes at a time when India’s startup ecosystem is showing renewed interest in public markets, despite global…
The Tamil Nadu government has announced a groundbreaking initiative to accelerate digital adoption among the state’s Micro, Small, and Medium Enterprises (MSMEs) through a partnership with the Open Network for Digital Commerce (ONDC). The MSME Trade Enablement And Marketing (TEAM) program, backed by a substantial allocation of ₹277.35 crore, marks a significant step toward digitalizing the state’s vast MSME sector.The initiative, unveiled today, aims to revolutionize how small businesses operate in the digital marketplace by providing them with essential tools, financial assistance, and technical support. With a target of onboarding 500,000 MSMEs, the program places special emphasis on supporting women-led…
The shares of Delhivery (BSE: DELHIVERY), one of India’s largest logistics and supply chain services companies, touched a new 52-week low of INR 306.50 during intraday trading on January 28, 2025, before staging a recovery. The stock, which has been under pressure in recent months, managed to rebound and was trading 1.21% higher at INR 317.45 by early afternoon, reflecting the volatile sentiment surrounding tech-enabled logistics companies.The decline marks a significant moment for the Gurugram-based company, which has seen its market capitalization settle at INR 23,601.22 crore. Trading volume remained robust with approximately 7.7 lakh shares changing hands, indicating strong…
Tamil Nadu’s digital payment landscape has witnessed a revolutionary transformation as the Unified Payments Interface (UPI) firmly establishes its dominance, accounting for an overwhelming 85% of all digital transactions in 2024, according to the latest data from the Reserve Bank of India (RBI).The RBI’s Payments System Report 2024 reveals that out of 20,787 crore digital payments recorded during the year, an impressive 17,221 crore transactions were conducted through UPI, marking a significant milestone in the state’s journey toward digital financial inclusion.This remarkable growth trajectory becomes even more apparent when compared to 2018 figures, where India recorded 1,683 crore digital payments,…
In a significant development for India’s digital lending landscape, the Reserve Bank of India’s (RBI) Unified Lending Interface (ULI) has facilitated loans worth INR 38,000 crore through 7.5 lakh transactions since its pilot launch in August 2023. This milestone, announced by RBI Chief General Manager Suvendu Pati, demonstrates the platform’s growing impact on financial inclusion and digital lending infrastructure.The ULI platform, designed to streamline the lending process through standardized APIs, has shown remarkable growth in recent months. Just last month, the platform had recorded 6 lakh loans worth INR 27,000 crore, indicating an acceleration in adoption and lending activity.”The ULI…