PB Fintech’s Shares Soar, Swiggy IPO Sees Muted Response, Paytm Introduces New Feature

TAC Infosec’s H1 profit soared 240%, while PB Fintech’s shares rose 3.2% following a positive Q2 report. Swiggy’s IPO, however, saw a muted response with only 11% subscription so far. In esports, Gladiators made waves by acquiring Gods Reign in one of India’s largest deals. Paytm introduced a new UPI statement download feature, and Karthik Gurumurthy from Swiggy launched a cricket activewear brand, Ten X You.

In funding news, Inflexor Ventures closed INR 280 Cr for its Opportunities Fund, while MODIFI secured strategic backing from SMBC Asia Rising Fund. Ripplr reported a widened loss, and FSSAI plans meetings with quick commerce execs over 'near-expiry' food sales. Lastly, Ajay Kumar’s MountTech Growth Fund is joining the cap table of spacetech startup GalaxEye.

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

“Ye Toh Shuru Hote Hi Khatam Ho Gaya”: Swiggy IPO Sees Muted Response With 11% Subscription So Far

Swiggy's highly anticipated $1.4 Bn IPO faced a muted debut, with just 12% of the public issue subscribed on Day 1.

While retail investors showed moderate interest with a 54% subscription, the employee portion fared better at 74%. Non-institutional investors lagged behind, bidding for only 6% of their quota, highlighting a cautious market sentiment.

Read more here

“Waah, Kya Technology Hai”: Paytm Introduces UPI Statement Download Option

Paytm has rolled out a handy new feature that lets users download their UPI statements directly from the app's "Balance & History" section.

Whether it's a specific date range or a full financial year, users can now generate detailed records, complete with transaction amounts, recipient info, bank accounts, and timestamps. It's a boost for those looking to keep tighter tabs on their finances.

Read more here

“Kaabil-e-Tarif”: TAC Infosec’s H1 Profit Surges 240% YoY To INR 6.52 Cr

TAC Infosec has recorded a remarkable 240% surge in its consolidated net profit for the first half of FY25, reaching INR 6.52 Cr, up from INR 1.92 Cr in the same period last year.

This impressive growth was accompanied by a 162.4% rise in operating revenue, which climbed to INR 13.15 Cr from INR 5.01 Cr in H1 FY24. The numbers reflect the company’s steady expansion in an increasingly competitive market.

Read more here

“Abhi Toh Aur Badhega”: PB Fintech Shares Jump 3.2% Intraday After Posting Q2 Profit

PB Fintech shares saw a 3.2% intraday rise after the company swung to a Q2 profit of INR 50.98 Cr, a stark turnaround from last year’s loss of INR 21.11 Cr.

With over 33.35 Lakh shares traded, its market cap reached INR 75,864.77 Cr (around $899.87 Mn). Adding to the momentum, Morgan Stanley reaffirmed its equal-weight rating, with a target price of INR 1,375.

Read more here

“Bahut Dukh Hai Iss Zamane Mein”: Ripplr’s FY24 Net Loss Widens 43.5% To INR 89.15 Cr

Ripplr's financial year FY24 saw its net loss deepen by 43.5% to INR 89.15 Cr, despite a 38.9% surge in operating revenue to INR 1,028.38 Cr compared to FY23.

Product sales dominated, making up 91% of revenue at INR 938.54 Cr, while service sales added INR 89.84 Cr. However, soaring expenses, up 39.4% to INR 1,121.58 Cr, weighed heavily on the company's bottom line.

Read more here

“Haan, Yahi Sapna Hai Tera”: FSSAI To Meet Quick Commerce Execs Over Sale Of ‘Near-Expiry’ Food

FSSAI is set to meet executives from Blinkit, Zepto, and Swiggy to address growing concerns over the sale of near-expiry packaged food items. The regulator is also planning a meeting with state food safety commissioners to strengthen oversight of quick commerce and e-commerce platforms.

This follows a recent raid by Telangana officials, which uncovered 18 kg of button mushrooms at a Zomato-owned warehouse, labeled with misleading packing dates.

Read more here

“Khele Hum Jee Jaan Se”: Ajay Kumar’s MountTech Growth Fund To Join Cap Table Of Spacetech Startup GalaxEye

Ajay Kumar's MountTech Growth Fund, focused on defense, aerospace, and deeptech, is set to join the funding round of spacetech startup GalaxEye.

The fund will contribute to GalaxEye’s $10 million Series A, alongside investors like Infosys, Celesta Capital, and Speciale Invest. This marks MountTech’s first investment since its launch earlier this year, signaling a strong start for the new venture fund.

Read more here

“Hum Saath Saath Hai”: Gladiators Buys Gods Reign In One Of Biggest Esports Deals In India

In a major move for Indian esports, Gladiator Esports has acquired Gods Reign, one of the country's most prominent gaming brands, known for its participation in Counter-Strike 2, Pokémon UNITE, and BGMI.

The acquisition aims to streamline operations and elevate Gladiator Esports' brand presence. This deal marks one of the largest mergers in India’s burgeoning esports landscape.

Read more here

“Kheloge Kudoge Toh Banoge Nawab”: Swiggy Instamart Architect Karthik Gurumurthy Floats Cricket Activewear Brand Ten X You

Swiggy Instamart's mastermind, Karthik Gurumurthy, has launched Ten X You, an activewear startup focused on cricket gear and apparel.

With Gurumurthy stepping in as CEO, the buzz is amplified by the anticipated involvement of cricket legend Sachin Tendulkar as a cofounder. Backed by Peak XV Partners and Whiteboard Capital, the venture promises to be a game-changer in cricket activewear.

Read more here

“Tum Sangharsh Karo”: Inflexor Ventures Marks First Close Of Opportunities Fund At INR 280 Cr

Inflexor Ventures has secured the first close of its ambitious INR 350 Cr Opportunities Fund, raising INR 280 Cr so far.

The fund received significant backing from HDFC AMC's Select AIF FoF I Scheme, which emerged as the lead LP. This move underscores Inflexor's focus on nurturing early-stage startups with robust funding.

Read more here

“Janmo Ke Saathi”: MODIFI Gets Strategic Investment From SMBC Asia Rising Fund

MODIFI, the digital trade finance platform, has secured a strategic investment from Japan’s SMBC Asia Rising Fund, enhancing their collaborative efforts.

Through an MoU, MODIFI and SMBC plan to deliver improved digital solutions aimed at supporting SME exporters throughout Asia. This partnership is set to empower SMEs with accessible cross-border financing solutions, boosting their global reach.

Read more here

1. Easy Home Finance has secured $35 million in a new funding round, led by Ranjan Pai’s Claypond Capital and Sumitomo Mitsui Banking Corporation's Asia Rising Fund. The fresh capital will fuel the startup’s growth in the home financing sector.

   Read more here