NEXUS 4
Nexus Select Trust Q2 net operating income rises 8 pc to Rs 504 cr
Nexus Select Trust has announced an 8% increase in its net operating income for the second quarter. The company reported a distribution of Rs 359 crore, reflecting growth in distribution per unit. Nexus Select Trust has cumulatively distributed over Rs 4,400 crore to its unitholders since its listing. The company marks its strategic entry into Northeast India with plans for a mall and hotel in Guwahati.
Virat Kohli's stake in Agilitas Sports rises to 6.4% after One8 merger
The merger has been approved by the Mumbai bench of the National Company Law Tribunal (NCLT). The increase in Kohli's shareholding is because of the merger and is not because of any fresh investment by the cricketer. He had earlier invested Rs 40 crore in the sportswear startup.
Virat Kohli becomes Agilitas’ second-largest individual shareholder after one8 merger
Virat Kohli's stake in Agilitas Sports has increased significantly following the merger with his one8 brand. The merger was approved by the National Company Law Tribunal, enhancing Agilitas’ product development capabilities. Kohli invested Rs 40 crore in Agilitas and remains a co-founder of one8. Agilitas aims to build a leading global sportswear brand from India through this integration.
Urban Company's Q2 loss triples on InstaHelp burn; CEO Bhal says ready to 'respond in full' to rivals
With competition in the instant househelp segment remaining intense, InstaHelp's post-discount average order value (AOV) fell about 12% to Rs 118 in the September quarter from Rs 134 in the June quarter. Urban Company competes with Nexus Venture Partners-backed Snabbit and General Catalyst-backed Pronto in the instant househelp segment, and both rivals have raised large sums this year.
Snabbit reports net loss of Rs 168 crore, revenue of Rs 12 crore in FY26
Backed by investors including Nexus Venture Partners, Elevation Capital and Lightspeed, the Bengaluru-based company started operations in August 2024, making FY26 its first full year of operations.
‘Russian diesel won’t help US, it shows double standards on India’: Margarita M. Balmaceda, Professor at Seton Hall University
Margarita M. Balmaceda examines the hidden dynamics of energy dependency between Russia and other nations. The discussion highlights Russia's role as a 'Trojan horse' in energy politics. Recent diesel deals between the US and Russia may have limited short-term benefits for American consumers. Additionally, the implications of these deals could adversely impact Ukraine's situation. This situation reflects a troubling double standard in international energy relations.
Groww Q2 profit jumps; Hocco eyes big funding scoop
Groww reported strong quarterly earnings in the July-September period. This and more in today’s ETtech Top 5.
18 Bangladeshi nationals apprehended in Guwahati in last 24 hours
Assam Police apprehended 18 Bangladeshi nationals in separate operations in Guwahati over the past 24 hours, including five intercepted at the railway station and 13 found at a hotel. Police said the individuals had entered India illegally and were staying or travelling without valid documents, with legal proceedings initiated for their expulsion.
Prosus steps up India fintech bets with Kiwi, Oolka funding talks
Prosus has held exploratory talks to invest in Kiwi, which offers bank-issued RuPay credit cards and credit lines for Unified Payments Interface (UPI) payments and is looking to raise around $40 million, the people said. ET reported last week that Kiwi was in the market for fresh funding.
Tenant ordered to vacate shop as landlord needs property for his unemployed son: Allahabad HC order
A landlord is the best judge of the requirements of his property however, tenantsalso need the property for either living or making a livelihood from it. A recent case in Allahabad High Court dealt with this same issue as in this case the tenant used to run a shop from the property, whereas the landlord’s son was unemployed.
Sauce's Manu Chandra on consumer exits; Physical AI's regulation push
Sauce's Manu Chandra said he expects larger exits for investors of India's new-age consumer brands. This and more in today’s ETtech Morning Dispatch.
Kiwi seeks up to $40 million as fintech steps up credit push
The proposed funding would be Kiwi's largest round after the Nexus Venture Partners and Stellaris Venture Partners-backed company raised $24 million in August last year. The round was led by Singapore-based Vertex Ventures.
Fruit seller deposited large amount of cash in bank, got income tax notice of unexplained income; won case in ITAT Bangalore for this reason
In Bangalore, Mr. Ramachandrababu found himself facing an income tax notice over unexplained cash deposits in his bank account. However, his successful appeal to the ITAT Bangalore showcased that these funds were legitimately sourced from agricultural sales. By providing land records, APMC sale bills, and bank statements, he effectively justified his claims and won the case.
ETtech Deals Digest: Ultraviolette leads weekly startup funding of $110 million
The increase was driven by Ultraviolette, which accounted for more than three-fourths of the capital raised during the week. Late-stage deals made up 77.3% of the funding, while seed-stage and early-stage rounds accounted for 14.9% and 7.8%, respectively.
Snapdeal parent AceVector’s IPO opens for subscription: Key things to know
The AceVector IPO will remain open for subscription until September 29. The companyraised Rs 189 crorefrom anchor investors on September 24. Domestic investors, including Helios Mutual Fund, Singularity Growth and Alchemy Capital, participated in the round.
NFO Insight: Motilal Oswal Nifty REITs & Realty Index Fund opens for subscription. Is now the right time to invest in realty?
Motilal Oswal Mutual Fund has launched the Nifty REITs & Realty Index Fund, which will be accepting subscriptions until October 9. This innovative fund seeks to give investors access to listed REITs and real estate firms using an index-focused strategy. Given the absence of historical performance data for new funds, experts suggest exercising caution.
Snapdeal IPO: GMP, price band among 10 things to know about AceVector public offer
AceVector, the parent company of Snapdeal, will launch its IPO on September 25 with a price band of Rs 30–32 per share. The issue comprises a fresh issue of Rs 287 crore and an OFS of up to 4.16 crore shares. The IPO will close on September 29, with the anchor book opening on September 24.
Cred alumni’s Sol raises $4 million from GC, Nexus Venture Partners, Kunal Shah
The startup, which is coming out of stealth, is building an AI assistant around the idea of 'proactive AI'. This identifies commitments users make in emails and starts the work needed to fulfil them, instead of waiting for users to write a prompt or assign a task.
Banks rethink UPI play; Big Tech's AI pivot dents Indian IT
Happy Wednesday! The return of MDR on UPI is pushing banks to rethink products and budgets. This and more in today’s ETtech Morning Dispatch.
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