Pranav Mukul

Capillary Technologies, backed by the likes of Warbug Pincus, Peak XV Partners and The Evolvence Group, had first filed its draft prospectus with the Securities and Exchange Board of India in December 2021 but then deferred its plan.

Synopsis The gambit by the two fierce competitors—which have battled each other for over a decade—comes even as they take on the might of ecommerce leaders like Walmart-owned Flipkart and Amazon alongside upstarts such as Zepto, in the red-hot quick commerce arena.

Synopsis “Nearly 70% of the commercial (passenger vehicle) drivers simply hold an LMV (light motor vehicle) licence without the transport endorsement…if the Supreme Court's decision went the other way, it would have been a nightmare,” a senior executive at a ride-hailing platform told ET.

The fund will back startups in the early stage and pick stakes in pre-IPO companies through secondary transactions. It will focus on sectors such as climate and sustainability, fintech and consumer businesses.

Synopsis So far, Swiggy has distributed Rs 500 crore in Esops, and the public listing could significantly boost returns for employee shareholders. Sources told ET that 500 employees stand to enter the ‘crorepati' club through the public offering.

Gurugram-based Noise, a wearables brand, reported a net loss of Rs 20 crore in the year ended March, compared to net profit of Rs 88 lakh in FY23. Operating revenue remained largely unchanged at Rs 1,430 crore compared to Rs 1,426 crore in FY23.

Synopsis Honasa Consumer, the parent company of beauty and personal care brand Mamaearth, reported a decline in its operating revenue for the September quarter while also slipping into losses, on account of a significant hit from its offline distribution restructuring exercise.

Synopsis ED is investigating alleged violations under the Foreign Exchange Management Act (Fema) that are ordinarily civil offences entailing monetary penalties. Earlier this month, the agency conducted nationwide searches at 19 sites related to large sellers on Amazon and Flipkart in New Delhi, Bengaluru and Hyderabad.

The slump has exposed pain points for multiple new-age beauty brands. Mamaearth posted a loss in its second quarter, even as its stock hit a 52-week low on Monday reacting to the weak results. The Gurugram-based brand, which is undergoing a restructuring of its offline supply chain, said it was clocking slower-than-expected growth and that it needed to recalibrate the strategy for its flagship brand to grow.

Synopsis Moksha Group will acquire Arzooo's technology platform and its various intellectual property assets and trademarks. "Arzooo also has a private label brand, which will now be owned by Moksha Group," a person familiar with the matter said on condition of anonymity.