PhonePe Revenue Surges 40%
Your daily dose of business news
🗞️ PhonePe narrows losses as revenue jumps 40%
PhonePe has cut its losses to ₹17,274 crore while revenue rose ~40%, showing signs of accelerating monetization.
💬 Expert Take — Tech Analyst: “Cutting loss and driving revenue growth are positive signals; profitability metrics will be key to sustain investor confidence.”
🗞️ Centre bans festival gift expenditure by ministries & CPSEs
The government has banned festival gift expenses across ministries and CPSEs, directing funds to be used more prudently ahead of budget pressures.
🗞️ Trualt Bioenergy IPO to open Sept 25
Trualt Bioenergy is launching its IPO with an ₹839 crore issue size, tapping into increasing investor interest in bioenergy.
🗞️ Hero Future Energies gets ₹1,000 crore SBI funding
Hero Future Energies secured ₹1,000 crore funding from SBI to push its hybrid (solar + wind) projects, helping scale renewable capacity.
🗞️ Nvidia to invest $100 billion in OpenAI
Nvidia plans a $100 billion investment in OpenAI, linking two major AI players in a deal that could reshape global AI infrastructure.
🗞️ Swiggy board approves Rapido stake sale
Swiggy’s board has approved selling its stake in Rapido valued at ₹2,400 crore to Prosus and WestBridge Capital, reflecting consolidation in last-mile mobility.
🗞️ GK Energy IPO subscribed 89.62×
GK Energy’s IPO saw massive demand, being subscribed 89.62× on the final day, showing strong investor appetite in clean energy themes.
🗞️ Purple Style Labs files ₹660 crore IPO
Purple Style Labs has filed for an IPO of ₹660 crore to support expansion of its Pernia’s pop-up shops and omnichannel retailing.