SEBI’s New Moves, Ola To Launch Grocery Delivery, Flipkart’s Celebration and more

SEBI greenlights expanded FPI investments by NRIs besides restricting regulated entities from unregistered finfluencer ties, while Nazara surges on NODWIN's full acquisition of Freaks 4U. Ola eyes grocery delivery dominance via ONDC, as Foxconn gears up to produce AI servers in India. CCI dismisses Google-Truecaller data sharing complaint, Flipkart celebrates video commerce success with 75 million engaged users.

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What Matters

“Maamla Legal Nahi Hai”: CCI Turns Down Plea Alleging Google Of Sharing Contact Data With Truecaller

The Competition Commission of India (CCI) has dismissed a complaint accusing Google of abusing its dominance by giving Truecaller exclusive access to users' private contact information.

The CCI found no prima facie case of contravention against Google under Section 4 of the Act. The complaint was filed by Rachna Khaira, alleging Google prohibited other apps from accessing similar data.

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“Swades Hai Tera”: SEBI Allows Greater Overseas Investments, Permits 100% Aggregate Contribution In FPIs For NRIs

SEBI has approved up to 100% aggregate contributions by NRIs, OCIs, and resident Indians in the corpus of Foreign Portfolio Investors (FPIs) based in the International Financial Services Centre (IFSC).

Applicants in IFSCs, regulated by the IFSCA, must declare their intent to have 50% or more aggregate contributions from these groups to their Designated Depository Participants (DDPs). As of March 31, 2023, these investors held INR 3.46 Lakh Cr in the Indian securities market.

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“Cancel Cancel Cancel”: SEBI Bars Regulated Entities From Associating With Unregistered Finfluencers

At its board meeting on June 27, SEBI barred regulated entities from associating with unregistered financial influencers, or "finfluencers." However, entities and individuals already regulated by SEBI are exempt from this ban.

Additionally, SEBI approved a proposal allowing Category I and II Alternative Investment Funds (AIFs) to borrow capital for up to 30 days to cover temporary shortfalls during investment drawdowns.

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“Ho Jaayegi Balle Balle”: Nazara Jumps 9% Intraday After NODWIN Acquires 100% Stake In Freaks 4U

Nazara shares soared 9% intraday to INR 887.05 following the news of NODWIN Gaming acquiring a 100% stake in Germany's Freaks 4U Gaming GmbH through a INR 271 Cr share swap.

Although the stock later pared some gains, it has surged over 32% since May 25, coinciding with the release of Nazara's FY24 earnings. The acquisition highlights Nazara's continued expansion in the gaming sector.

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“Aloo Le Lo, Kandha Le Lo”: Ola To Launch Grocery Delivery Via ONDC Soon, Eyes Major Share Of Food Orders On Network

Ola, led by Bhavish Aggarwal, is gearing up to launch grocery delivery services in the coming days. Already the second-largest platform for food orders on ONDC, processing 15,000-20,000 orders daily, Ola aims to capture a significant market share.

This move puts Ola in direct competition with Paytm Ecommerce's Pai Platforms, Swiggy’s Instamart, Blinkit, and others.

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“Hum Bhi Hai Josh Mein”: Apple Supplier Foxconn Plans Making AI Servers In India

Foxconn, a key Apple supplier, is set to manufacture AI servers in India, utilizing its existing facilities in Tamil Nadu. Known for building AI servers for tech giants like Amazon, Google, Microsoft, and Nvidia, Foxconn's move marks a significant expansion in India's tech manufacturing landscape.

Meanwhile, its subsidiary, Rayprus Technologies, is also eyeing the Indian market with a new facility planned in Bengaluru.

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“Badhaai Ho Badhaai”: Flipkart Says Video Commerce Offering A Big Success; 75 Mn Users Engaged In H1 2024

Flipkart's video commerce offering has proven to be a big success, engaging 75 million users in the first half of 2024. Between June 2023 and May 2024, users spent over 2 million hours interacting with Flipkart's video content, with Delhi NCR, Bengaluru, Mumbai, Hyderabad, and Kolkata leading in engagement.

This achievement comes as Indian short video and live commerce platforms face declining engagement and monetization challenges.

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1. Edtech unicorn upGrad has secured approximately $35 million (Rs 287.5 crore) in debt funding from EvolutionX, marking its first debt financing of the year. This funding boost aims to support the Mumbai-based company's continued growth and expansion.

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2. NODWIN Gaming's Singapore-based subsidiary is set to acquire a full 100% stake in Freaks 4U Gaming GmbH for INR 271 crore. This move follows NODWIN's earlier acquisition of a minority stake and ongoing collaboration on major esports events.

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3. Electric mobility startup Matter has raised INR 82.6 crore through the issuance of 1,12,837 Compulsorily Convertible Preference Shares (CCPS) at INR 7,320 per share. Investors include Japan Airlines & Translink Fund, Capital 2B Fund, Helena Special Investments Fund, and Miracle Carriers.

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