Start-up Co-founder

Sebi eases IPO regulations, allows startup founders to retain ESOPs

In a big relief to startup founders looking to go public, Sebi has amended rules allowing them to retain Employee Stock options (ESOPs) granted at least one year before filing preliminary IPO (initial pubic offering) papers. "An employee who is identified as a 'promoter' or part of the 'promoter group' in the draft offer document filed by a company with the Board in relation to an IPO, and who was granted options, SAR (Stock Appreciation Rights) or any other benefit under any scheme at least one year prior to filing of the draft offer document, shall be eligible to continue to hold and/or exercise such options, SAR or any other benefit," Sebi said in a notification made public on Tuesday. The new rule would facilitate founders who received ESOPs at least one year before the filing of draft papers to continue holding or exercising such benefits even after being specified as the promoter and the company becoming a listed entity. Under the existing regulations, promoters are ineligible

Gensol-Blusmart crisis: Founders kill the biz; long live the brand

The BluSmart story is not a one-off. India has witnessed several such instances in the past-brilliant brands or products built from scratch, only to be undone by mismanagement or greed

Sold shares for personal reasons, said EaseMyTrip's Ex-CEO after resigning

Co-Founder of online travel-tech aggregator EaseMyTrip Nishant Pitti on Friday said he sold a "small portion" of the promoter shares held by him for "personal reasons", days after the company announced his resignation as CEO. In a social media post, Nishant, who was replaced by his brother and Co-Founder Rikant Pittie, after EaseMyTrip announced his appointment as the new CEO on January 1, reassured that the travel-tech platform is on a "strong growth path" and his move to sell a portion of the promoter shares does not reflect any lack of confidence in its future. "I recently sold a small portion of my promoter shares for personal reasons. I want to assure you this does not reflect any lack of confidence in EaseMyTrip's bright future. With a talented team and Rikant's visionary leadership, EaseMyTrip is on a strong growth path. To honor your trust, I have thoughtfully limited my share sale and confirm there will be no further sales from my side. "Thank you for your unwavering suppor

Drums Food International co-founder Rohan Mirchandani passes away

The co-founder of Drums Food International, which owns yogurt brand Epigamia, passed away on Saturday due to a cardiac arrest

Why India's startup founders aren't gamers, or won't admit to it

Why India's startup founders are not known to spend much time playing video games, or won't admit to it. Chess, however, has a bit of a following

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

BharatPe founder Bhavik Koladiya quits, months after Ashneer Grover's exit

According to a media report, Koladiya's departure is due to a disagreement between him and BharatPe as well as the company's Chief Executive Officer Suhail Sameer.

Health tech firm Practo elevates Siddhartha Nihalani as co-founder

Executive has been associated with Practo since its inception and has been a driving force behind the technology, growth and business strategy.

The unravelling of Ashneer Grover's fortunes: A blow-by-blow account

Murmurs of a toxic work culture at BharatPe grew louder in the wake of its co-founder's personal behaviour

Creating future Elon Musks: Meet Synthesis Co-founder & CEO Chrisman Frank

Solving problems, SpaceX CEO style, is what Frank and his co-founder, Joshua Dahn, hope to teach students

Grabhouse and Pankhuri founder Pankhuri Shrivastava passes away at 32

Serial entrepreneur Pankhuri Shrivastava, founder of a women-focused social community platform called iPankhurii and startup Grabhouse passed away on December 24 at the age of 32

Step-by-step guide to finding a co-founder for your start-up on Facebook

A well-written job description is the most important factor, reports Tech in Asia