Infibeam Acquires Stake in Reddif.com, SEBI Gets Tech-savvy, Meesho Welcomes New Board Members and more

Delhivery is rewarding its team with 16.61 lakh ESOPs just ahead of its Q1 earnings. Infibeam is making waves by acquiring a 54% stake in the iconic Rediff.com. Zomato’s market cap is tantalizingly close to the $30 billion mark after a strong Q1. SEBI is getting tech-savvy, using AI to fast-track IPO document processing.

Meesho's board now boasts heavyweights like former JP Morgan Chairman Kalpana Morparia. Meanwhile, ixigo's shares jumped nearly 5% on stellar Q1 results. Whereas, WazirX makes u-turn on socialized loss strategy after backlash and travel app ixigo just launched its Flight Tracker Pro feature.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“Jung Ki Tayyari”: Delhivery Grants 16.61 Lakh ESOPs Ahead Of Q1 Earnings

Delhivery, gearing up for its Q1 earnings, has approved the allotment of 1.66 lakh ESOPs, with each share valued at INR 1. A portion of these, 46,122 options, will vest gradually.

Meanwhile, Zomato made waves by announcing the allotment of over 35.17 lakh employee stock options, showcasing a trend of rewarding employee contributions through equity.

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“Hum Saath Saath Hai”: Infibeam Picks Up Majority Stake In Rediff.com

Infibeam Avenues, the Gujarat-based fintech giant, has snapped up a 54% stake in Rediff.com, one of India's internet pioneers. This Rs 50 crore investment, split equally between equity and debt, signals a strategic move to bolster its digital presence.

As the tech landscape shifts, Infibeam's stake in Rediff marks a nostalgic yet forward-thinking step.

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“Hum Kissi Se Kam Nahi”: Zomato's Market Cap Inches Closer To $30 Bn Mark Post Strong Q1

Zomato's market cap is on the brink of hitting the $30 billion mark after a stellar Q1 performance. The food delivery giant's shares soared to a 52-week high of INR 278.45, buoyed by Bernstein's upgraded price target of INR 275.

With a profit after tax leaping to INR 253 crore in Q1 FY25 from just INR 2 crore last year, Zomato's growth story is sizzling hot.

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“Every Breath You Take”: SEBI Has Started Using AI For IPO Documents Processing

SEBI is stepping into the future by using AI to process 80% of its IPO documents, according to Chairperson Madhabi Puri Buch. This tech-driven approach aims to speed up approvals, making the application process smoother and more efficient.

By embracing advanced technology, SEBI is revolutionizing how IPOs are handled, promising faster and more streamlined operations.

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“Swag Se Karenge Sabka Swagat”: Meesho Boosts Board With Former JP Morgan Chairman Kalpana Morparia, Three Others

Meesho is supercharging its board with some heavyweights, including former JP Morgan chairman Kalpana Morparia. Joining her are Jubilant Bhartia Group’s Hari S Bhartia, Ema Unlimited’s Surojit Chatterjee, and PhonePe’s Rohit Bhagat as independent directors.

This star-studded lineup is set to steer Meesho through the dynamic ecommerce waters, aiming to make it the go-to platform for India's online shoppers.

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“High Up In The Sky”: ixigo Shares Jump Almost 5% Intraday On Strong Q1 Performance

ixigo shares soared nearly 5% to INR 178.20 on the BSE after posting impressive Q1 results. The online travel aggregator saw its profit after tax leap by 78% to INR 14.85 crore, and revenue from operations rose 16% to INR 181.87 crore.

With such strong performance, ixigo's journey is definitely on the up and up.

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“Sochi Samjhi Saazish”: WazirX Makes U-Turn On Socialized Loss Strategy After Backlash

WazirX has hit pause on its controversial socialized loss strategy after a wave of backlash from users. The crypto exchange faced intense criticism for its handling of the recent $230 million hack, especially for its 55-45 approach, which many deemed unfair.

Following the uproar, WazirX is reconsidering its strategy to address customer concerns.

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“Naya Yug, Nayi Soch”: ixigo Rolls Out Flight Tracker Feature To Provide Travel Updates To Users

Travel app ixigo just launched its Flight Tracker Pro feature, offering real-time updates on flight status, delays, terminal info, and more.

Exclusively for ixigo users, this new tool comes as the company celebrates a 78% year-on-year profit jump and a 16% increase in operating revenue. Booking flights through ixigo just got a whole lot smarter and more convenient.

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1. Surat-based Bebe Burp has bagged INR 8 crore in Pre-Series A funding from Gruhas Collective Consumer Fund. The baby food brand aims to expand its market reach and boost brand awareness through retail growth and influencer partnerships.

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2. Mumbai-based wealth management firm Neo secures $26.5 million in Series B funding led by Crystal Investment, marking its second major raise within nine months. Crystal Investment contributed $16.8 million, with additional support from Mufg Bank and investor Deepak Agarwal.

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3. ShareChat secures an additional $16 million in debt funding from Singapore's EDBI, boosting its round size to $65 million. This new investment follows a previous $49 million raise and comes amid recent workforce reductions.

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