Fintech unicorn Razorpay is shifting its headquarters from the US to India, aiming for a 2026 IPO. Despite facing potential $300 million tax implications, the move is underway, pending regulatory approvals. The company, valued at $7.5 billion, seeks to list where it's recognized and projects a 50%+ growth rate over the next few years.
Related news
Rebel Foods, supported by Temasek and KKR, is entering the quick food delivery sector with its 15-minute service branded as QuickiES. Utilizing its existing cloud kitchens and customer data from its EatSure app, Rebel Foods aims to offer fresh and quality snacks swiftly, intensifying competition in this evolving market.
Emami's MD, Harsha Vardhan Agarwal, new Ficci president, states that consumption slowdown, impacted by inflation, will take a few quarters to normalize. He suggests controlling inflation and boosting government spending to revive demand, noting a mixed bag for FMCG with rural uptick and urban slowdown.
Finance Minister Nirmala Sitharaman, presenting the Union budget 2025, announced plans for 1.5 lakh rural post offices to boost the rural economy. The budget includes a new urea plant in Assam and enhanced investment limits for MSMEs. The government will also support the National Cooperative Development Corporation to aid small businesses and farmers.
Salesforce will not be hiring more engineers this year due to significant productivity improvements from their AI tool, Agentforce. CEO Marc Benioff cited a 30% increase in engineering productivity and announced a planned expansion of their sales team by up to 2,000 people.
The government plans to consult with the tech industry and external experts before restricting the transfer of certain personal data outside India, as part of the draft Digital Personal Data Protection rules. The rules also propose parental consent for children under 18 to join social media platforms.
Indian markets experienced a significant downturn in April, with BSE-listed companies losing Rs 11.30 lakh crore due to escalating US-China trade tensions and subsequent tariff announcements. Although the US temporarily suspended tariffs, uncertainty persists, impacting investor sentiment. Experts anticipate a potential market rebound in the second half of FY26, contingent on improved corporate earnings and stabilised global conditions.
Anand Mahindra emphasizes the significance of output quality over the number of working hours in response to controversial remarks by L&T Chairman SN Subrahmanyan about a 90-hour workweek. Mahindra also highlights the importance of a balanced life enriched by arts, culture, and family time for enhanced decision-making and leadership.
India's IT sector has shifted towards automation, leading to a collective net headcount reduction of 2,587 in the December quarter. Major firms like TCS, Wipro, and Tech Mahindra saw workforce declines. Experts believe this trend will continue, with the IT sector adding fewer employees compared to the previous year. Increasing revenue productivity has decreased the need for headcount growth.
Six leading firms among the top-10 most valued companies collectively gained Rs 86,847.88 crore in market value last week, with HDFC Bank and Reliance Industries leading the gains. The BSE and Nifty both saw modest increases. Meanwhile, four companies, including TCS and Infosys, faced declines in their market valuations.
SEBI has cautioned the public about the rise of securities market fraud on social media platforms, where fraudsters use fake testimonials and promise guaranteed returns. The regulator advises caution and verification of social media accounts claiming to represent registered entities. SEBI has also introduced a '1600' phone number series to help investors identify legitimate service calls from registered entities.