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E-commerce company Meesho plans to use Rs 480 crore from the public offer proceeds towards payment of salaries of AI and technology teams, according to draft IPO papers. The disclosure has sparked social media chatter over whether such utilisation from IPO funds (on personnel salary spends) should be worrying or signals long-term bets on tech talent. SoftBank-backed e-commerce firm is aiming to raise Rs 5,421 crore through its Initial Public Offering (IPO), which opens for subscription on December 3. The e-commerce firm will make its debut on the stock market on December 12. The Bengaluru-based company's maiden public offering will comprise a fresh issue of shares worth Rs 4,250 crore, along with an Offer For Sale (OFS) of 10.55 crore shares valued at Rs 1,171 crore at the upper band, taking the total issue size to Rs 5,421 crore. Giving details of the proposed utilisation of IPO proceeds, the company disclosed that Rs 480 crore is earmarked for "payment of salaries of our existing
The Department of Consumer Affairs has partnered with the education ministry to challenge students to develop solutions for six consumer protection issues, from extending the shelf life of onions to detecting tampering in weighing machines. The Smart India Hackathon 2025, launched by the Ministry of Education, aims to harness student innovation to address practical problems affecting millions of consumers, the department said in a statement. Five problem statements remain open for submission until October 15, after the deadline for an onion storage challenge expired on October 7. The initiative involves collaboration with the All India Council for Technical Education. The problems range from improving post-harvest storage for onions, where losses of 30-50 per cent occur due to rotting and sprouting, to developing non-destructive testing methods for gold jewellery hallmarking. Other challenges include creating an AI-powered system to verify compliance with legal metrology rules on .
The government has placed e-commerce platforms under scrutiny as it monitors prices of daily use FMCG products ranging from shampoo to pulses to ensure that the benefits of Goods and Services Tax (GST) rate cuts are being appropriately passed on to consumers, a source said on Tuesday. Authorities are monitoring whether these platforms are complying with pricing norms and not withholding the intended consumer benefits from tax reductions. Amid complaints of not commensurate price reduction of daily essential items being sold on some e-commerce platforms, sources said that the government has informally ticked off certain e-commerce operators for the prices they are offering on certain items. "The government is monitoring e-commerce operators for a smooth and genuine passage of GST cuts. The revenue department is monitoring whether taxes have been cut commensurately," the source said. Sources said the e-commerce platforms cited 'technical glitches' when discrepancies in pricing pre- a