 "Peerzada Abrar")
Peerzada Abrar
Peerzada Abrar
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
Peerzada Abrar is a technology and business reporter at Business Standard. He covers the intersection of technology, AI, business and society, and their impact on our lives. This includes tracking top tech firms and startups. He joined Business Standard in 2019 after having worked at The Economic Times and The Hindu, where he covered the entrepreneurship ecosystem, start-ups, new technologies, venture capital, and private equity. A storyteller at heart, he is captivated by the potential of innovation to address global challenges. His narrative spans from resilient communities combating epidemics and natural disasters to groundbreaking initiatives that empower the underserved and transform humanitarian landscapes.
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Byju's in talks with 3-4 strategic buyers to sell Epic for $450 million
Byju's and its term loan B lenders then decided to postpone the ongoing disagreement in the US courts and achieve an out-of-court resolution
 "Byju's in talks with 3-4 strategic buyers to sell Epic for $450 million")
Byju's core business sees 2.3x revenue growth, Rs 2,253 cr net loss in FY22
The financials revealed by Byju's are based on an 'unqualified FY22 audit'; it will file the financials with MCA in the next few weeks, according to the sources
 "Byju's core business sees 2.3x revenue growth, Rs 2,253 cr net loss in FY22")
Core business loss at edtech giant Byju's may only be tip of iceberg
The financials announced by Byju's are based on an 'unqualified FY22 audit' that indicates the auditor is satisfied with the company's financial reporting
 "Core business loss at edtech giant Byju's may only be tip of iceberg")
Delhivery Q2 result: Net loss at Rs 103 cr, revenue up 8% to Rs 1,942 cr
The logistics firm also made a few leadership appointments aimed at creating experienced long-term leaders for key functions and business roles
 "Delhivery Q2 result: Net loss at Rs 103 cr, revenue up 8% to Rs 1,942 cr")
Will soon begin audit process for FY23: Byju's CEO Raveendran tells staff
Byju's parent firm Think and Learn reported 2.3 times growth in its core business to reach a total income of Rs 3,569 cr for FY2021-22, and a loss of Rs 2,253 cr y-o-y
 "Will soon begin audit process for FY23: Byju's CEO Raveendran tells staff")
Students get placement jitters as IT majors slow down campus hiring
Most of the big-ticket IT players are loath to recruit from Tier-2 and Tier-3 institutes
 "Students get placement jitters as IT majors slow down campus hiring")
Ajio launches D2C content-driven interactive e-commerce platform Ajiogram
Easily accessed by switching stores within the Ajio app, Ajiogram aims to onboard 200 exclusive homegrown D2C brands by next year
 "Ajio launches D2C content-driven interactive e-commerce platform Ajiogram")
CarDekho's FY23 revenue rises 46% to Rs 2,331 cr, Rupyy drives growth
The company said that it has controlled the losses despite maintaining a steady growth whereby it recorded a loss of Rs 562 crore in FY23 against Rs 535 crore in FY22
 "CarDekho's FY23 revenue rises 46% to Rs 2,331 cr, Rupyy drives growth")
Edtech firm Unacademy appoints Sandhydeep Purri as chief people officer
Before joining Unacademy, Purri held the position of chief people officer at Sapphire Foods, overseeing HR strategies for brands like Pizza Hut and KFC
 "Edtech firm Unacademy appoints Sandhydeep Purri as chief people officer")
Leaving legacy through brands built for India: Honasa's Ghazal Alagh
Co-founders Varun and Ghazal Alagh aim to take Indian beauty brands global as they unveil Honasa's initial public offering, eyeing Rs 1,701 crore in funding
 "Leaving legacy through brands built for India: Honasa's Ghazal Alagh")
Meesho announces a 9-day break for employees for mental well-being
The firm said this is a testament to Meesho's unwavering commitment to its employees' holistic growth and happiness
 "Meesho announces a 9-day break for employees for mental well-being")
Payment is not like sending a chat message or Insta post: PhonePe's Nigam
At BS BFSI Summit 2023, Nigam said PhonePe had the belief that it would win because it was willing to deploy a large workforce on the merchant acceptance and operating side
 "Payment is not like sending a chat message or Insta post: PhonePe's Nigam")
Manipal Group invests in Purplle with secondary purchase from JSW Ventures
With this transaction, JSW Ventures has fully exited its stake in Purplle from Fund I and has returned 2.7 times the fund size to its investors so far
 "Manipal Group invests in Purplle with secondary purchase from JSW Ventures")
Aequs raises Rs 448 cr in funding round led by Singapore's Amansa Capital
Aequs, which operates a precision manufacturing platform in aerospace and other verticals, will use the growth capital to launch a new Advanced Technology Products (ATP) vertical
 "Aequs raises Rs 448 cr in funding round led by Singapore's Amansa Capital")
Lenskart acquires computer vision startup Tango Eye for undisclosed amount
In stores, Tango Eye's technology analyses CCTV footage to provide analytics, optimise customer flow and ensure proper adherence to all procedures
 "Lenskart acquires computer vision startup Tango Eye for undisclosed amount")
Cars24 reports revenue of Rs 5,535 cr in FY23, 8% increase from FY22
The company reported profit before tax (loss) of Rs 467.8 crore in FY23 compared to Rs 1093.1 crore in FY22
 "Cars24 reports revenue of Rs 5,535 cr in FY23, 8% increase from FY22")
PhonePe scales up its shopping app to compete with large e-commerce firms
Pincode offers consumers the opportunity to browse and order directly from their favourite local shops and restaurants
 "PhonePe scales up its shopping app to compete with large e-commerce firms")
Ola Electric in 'giga' drive: Rs 3,200 crore to fund its EV business
The funds raised are expected to create an interim event and pave the way for an initial public offering (IPO), which may be in the range of $800 million to $1 billion
 "Ola Electric in 'giga' drive: Rs 3,200 crore to fund its EV business")
Honasa Consumer IPO to open on Oct 31; sets price band at Rs 308-324/share
The company said it is on the cusp of an increase in profitability trajectory with business model efficiency and operating leverage setting in
 "Honasa Consumer IPO to open on Oct 31; sets price band at Rs 308-324/share")
PayMate India achieves TPV of Rs 84,519 cr, 8 fold increase in FY23 profit
"During the last financial year, we focused on operational efficiency and driving growth," said Ajay Adiseshan, founder and CEO of PayMate
 "PayMate India achieves TPV of Rs 84,519 cr, 8 fold increase in FY23 profit")