Swiggy IPO To Transform Its 500 Employees’ Lives
The food delivery giant Swiggy made its highly-anticipated stock market debut on November 13, 2024. It is not only one of the biggest IPOs (Initial Public Offering) in recent years but also impacted the company’s employees’ lives. According to Money Control, 500 of Swiggy’s employees are likely to become crorepatis through the ESOP (Employee Stock…
Abdullah Ansari
Rupee Hits A Record Low Of 84.39 Against Greenback
The Indian rupee fell to a record low against the greenback this Tuesday, reflecting the weakness of Asian currencies following Trump’s victory in the U.S. elections. The constant outflow of foreign funds from Indian equities also weighed the rupee’s value. Foreign investors withdrew around $3 billion from Indian stocks in November after pulling out $11…
Himanshu
iPhone Production In India To Double – Thanks To Trump
Apple Inc. could double its iPhone manufacturing in India with Donald Trump returning as US president. The company might grow production to over $30 billion annually over the next two years. Apple Inc., the Cupertino-based tech giant, currently manufactures iPhones worth around $15-16 billion annually in India. The boost in iPhone production is expected because…
ABHYUDAYA MITTAL
Zomato’s New Feature To Tackle Cancelled Orders
The Indian food delivery giant Zomato has introduced a new feature named “Food Rescue” to reduce food waste. Now, customers will be able to order food from cancelled orders. Zomato co-founder and CEO (Chief Executive Officer) Dipinder Goyal wrote in an X post on Sunday, “Cancelled orders will now pop up for nearby customers, who…
Vipin
ED Raids Amazon And Flipkart Sellers, But Why?
Recently, the Enforcement Directorate (ED) conducted a raid on 19 premises of the main sellers of Amazon and Flipkart. The names of the vendors are yet to be revealed. These raids were administered in Delhi, Bengaluru, Mumbai, Hyderabad, and Panchkula of Haryana. Multiple complaints were received about both e-commerce platforms violating India’s FDI (Foreign Direct…
Historic Decline: Rupee Plummets To Unprecedented Low
Recently, the Indian currency rupee hit an all-time low of Rs 84.1725 against the US currency dollar, down 0.07% from its previous close at Rs 84.1075. Analysts share insights about it and say that Donald Trump’s victory in the US elections will likely affect the rupee adversely as his inflammatory policies might further strengthen the…
Shipra Prajapati
Swiggy Raises ₹5,085 Crore From Anchor Investors
The leading food and grocery delivery giant, Swiggy, raised ₹5085 crore from anchor investors. The anchor investors received shares at ₹390, the upper end of the price band of ₹371-390 per share set for the IPO (Initial Public Offering). According to sources, more than half of the anchor book has been allotted to domestic investors. …
Leadership Shakeup: Embassy REIT CEO To Be Suspended
Capital markets regulator SEBI (Securities and Exchange Board of India) directed EOPMSPL (Embassy Office Parks Management Services Pvt Ltd) to suspend its CEO (Chief Executive Officer), Arvind Maiya. An interim CEO will be appointed immediately in place of Arvind Maiya, according to SEBI. Currently, the SEBI has imposed a Rs 50 lakh penalty on Arving…
WhatsApp’s Ban on 8.6 Million Indian Accounts: A Step Toward Digital Security and Regulatory Compliance
In recent finance and technology news, WhatsApp, owned by Meta, enacted a sweeping ban on 8.6 million accounts in India amid an increase in user complaints and suspicious activities. As one of the country’s most popular messaging apps, this action reflects WhatsApp’s intensified focus on compliance with India’s regulations, driven by a growing need to…
John David
Swiggy Fined For Inflating Delivery Distance
The food delivery giant Swiggy was recently fined ₹35,000 for overcharging customers by artificially inflating delivery distances. A Hyderabad man filed a complaint against Siggy a few days ago for unfair trade practices, after which the company was ordered to pay ₹35,000, the Times of India reported. The District Consumer Disputes Redressal Commission in Telangana’s…
