Billionbrains Garage Ventures Limited’s IPO to Open on Tuesday, Nov. 4, 2025

• The Floor Price is 47.50 times the face value of Equity Shares and the Cap Price is 50.00 times the face value of the Equity Shares.
• Bid / Offer will open on Tuesday, November 4, 2025 and close on Friday, November 7, 2025 (“Bid Dates”).
• The Anchor Investor Bid / Offer Period shall be Monday, November 3, 2025.
• Bids can be made for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter. (“No. of Bids”)

Billionbrains Garage Ventures Limited (The “Company”), shall open the Bid/Offer in relation to its initial public offer of Equity Shares on Tuesday, November 4, 2025.

The Price Band of the Offer has been fixed at ₹ 95 to ₹ 100 per Equity Share. (“Price Band”). Bids can be made for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter.

The initial public offer of Equity Shares of face value ₹ 2 per share (“Total Offer Size”) comprises a fresh issue of up to ₹ 10,600 million (“Fresh Issue”) and an offer for sale of up to 557,230,051 Equity Shares (“Offer for Sale”).

The Anchor Investor Bidding Date shall be Monday, November 3, 2025, and the Bid/Offer shall close on Friday, November 7, 2025.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE, and together with the BSE, the “Stock Exchanges”). For the purposes of the Offer, the Designated Stock Exchange shall be NSE.

Lalit Keshre, Whole Time Director and Chief Executive Officer

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers to the Offer (the "BRLMs").

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the Red Herring Prospectus.

The Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in accordance with Regulation 6(2) of the SEBI ICDR Regulations wherein in terms of Regulation 32(2) of the SEBI ICDR Regulations, not less than 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, the “QIB Portion”) provided that our Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations, of which at least one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price.

In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. If at least 75% of the Offer cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. Further, not more than 15% of the Offer shall be available for allocation to Non-Institutional Bidders (the “Non-Institutional Bidders”) out of which (a) one-third of such Non-Institutional portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-third of such Non-Institutional portion shall be reserved for applicants with application size of more than ₹1,000,000 provided that the unsubscribed Non Institutional portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

The allocation to each Non-Institutional Investor shall not be less than the minimum application size, subject to availability of Equity Shares in the Non-Institutional Portion and the remaining available Equity Shares, if any, shall be allocated on a proportionate basis in accordance with the conditions specified in this regard in Schedule XIII of the SEBI ICDR Regulations. Further not more than 10% of the Offer shall be available for allocation to RIIs in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process.

Disclaimer:

This announcement does not constitute an offering in the United States. The Equity Shares have not been and will not be registered under the U.S. Securities Act or any state securities laws in the United States, and, unless so registered, may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons as defined in Regulation S under the U.S. Securities Act (“U.S. Persons”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws in the United States. Accordingly, the Equity Shares are only being offered and sold (i) to persons in the United States or to or for the account or benefit of, U.S. Persons, in each case that are both (a) “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act and referred to as “U.S. QIBs” and, for the avoidance of doubt, the term U.S. QIBs does not refer to a category of institutional investor defined under applicable Indian regulations and referred as “QIBs”) in transactions exempt from or not subject to the registration requirements of the U.S. Securities Act, and (b) “qualified purchasers” (as defined under the U.S. Investment Company Act and referred to as “QPs”) in reliance on Section 3(c)(7) of the U.S. Investment Company Act; or (ii) outside the United States to investors that are not U.S. Persons nor persons acquiring for the account or benefit of U.S. Persons in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.

Drip Capital secures $50M credit facility from TD Bank to scale SMB trade finance across North America

• Drip Capital’s total debt funding raised to date exceeds US$500 million, supported by global partners including Barclays, World Bank’s International Finance Corporation (IFC), and East West Bank
• Drip Capital has financed over USD$8 billion in trade transactions for more than 11,000 firms across 100+ countries since inception

Drip Capital, a digital trade finance and B2B e-commerce company, has secured a US$50 million committed credit facility with an additional $25 million accordion feature from Toronto-Dominion Bank (TD Bank), one of the top ten banks in North America.

Pushkar Mukewar, Founder & CEO, Drip Capital

The partnership marks Drip Capital’s first engagement with TD Bank. The facility will support the company’s Buyer Finance programme across North America while reinforcing its leadership in cross-border SMB financing globally. With this round, Drip Capital’s total debt funding raised to date exceeds US$500 million, supported by global financial partners including Barclays, the World Bank’s International Finance Corporation (IFC), and East West Bank. 

India’s small and mid-sized businesses (SMBs) power nearly 40% of the nation’s exports, yet many still face cash flow gaps and limited access to formal credit. Drip Capital bridges this gap by giving exporters instant access to working capital through its non-recourse receivables factoring solution, where they’re paid upfront for their overseas shipments by Drip Capital, which, instead of the exporter, takes on the risk of payments from the overseas buyers. This approach allows SMBs to grow their business confidently without tying up collateral or worrying about buyer defaults.

Since its inception in 2016, Drip Capital has financed over US$8 billion in trade transactions for more than 11,000 firms across 100+ countries, including thousands of Indian exporters in sectors such as agro commodities, textiles, chemicals, and engineering goods. In FY24–25 alone, the company disbursed over US$2 billion, with India continuing to be one of its largest and fastest-growing markets.

“This partnership with TD Bank reinforces global confidence in Drip Capital’s business model and the strength of Indian fintech on the world stage,” said Pushkar Mukewar, Founder and CEO, Drip Capital. “Our mission is simple: to make global trade more accessible for small businesses. Whether in India, or outside, SMBs need reliable financing and trusted trade partners to compete. This facility allows us to extend that support at scale.”

“Every company can benefit from having a collateral-free, flexible credit line to procure goods and services and manage working capital better. Despite our rapid growth, we’ve only scratched the surface. Drip Capital is quietly financing the supply chains behind millions of purchases across the globe,” Mukewar added.

JSW MG Motor India Champions Cleaner Mobility with Air Purification Tech Across Its Portfolio

As the festive season brings joy across India, it also coincides with a sharp rise in air pollution caused by firecrackers, stubble burning and other factors. The resulting smog fills the air with invisible pollutants that can harm you and your family. Recognizing this growing concern, JSW MG Motor India is helping customers breathe cleaner air inside their vehicles through advanced PM 2.5 Air Filters and Air Purifiers across its portfolio*.

All MG models including the Astor, Gloster, Windsor, Comet, and ZS EV comes equipped with PM 2.5 Air Filters, and the popular MG Hector features a PM 2.5 Air Purifier with an inbuilt Air Quality Index (AQI) display. Together, these innovations ensure that MG owners can enjoy every journey in a cleaner, healthier in-cabin environment, even when outdoor air quality dips.

PM 2.5 refers to fine particulate matter smaller than 2.5 microns, so tiny that it can bypass the nose and throat and reach the lungs. MG’s PM 2.5 Air Filters trap up to 95–99% of these harmful particles, including dust, smoke, soot, pollen, and bacteria.

The PM 2.5 Air Purifier in the MG Hector takes cabin safety further with activated carbon filter, effectively removing pollutants, allergens, and odors. The integrated AQI display gives passengers real-time updates on the air quality inside the cabin, creating awareness and peace of mind.

This initiative aligns with JSW MG Motor India’s vision for a cleaner, smarter, and sustainable future. The company has consistently introduced technologies that improve everyday mobility while protecting the environment from pioneering connected cars to leading India’s EV transition with models like the ZS EV, Comet, and Windsor.

By integrating advanced filtration and purification systems across its range, JSW MG Motor India continues to prioritize customer well-being while promoting environmental responsibility.

*Available in specific variants

India’s Gaming and Interactive Media Market Set to Triple by FY2030 to almost $8 Billion - Report

BITKRAFT Ventures, a leading global investment platform for gaming and interactive entertainment, today announced the release of a report powered by Redseer Strategy Consultants, forecasting high growth in India's gaming and interactive media sector, despite the ban on real money gaming. The study reveals that the segment, already a key engine in India’s digital media & entertainment space, is projected to triple in size, reaching $7.7 Billion by FY2030.

The report, "The Gaming and Interactive Media Opportunity in India," highlights that these segments are growing approximately 1.5 times faster than the overall digital media and entertainment market, fueled by India’s massive, young user base, nano-transactions, high smartphone engagement, and shifting consumer behavior toward interactive and personalized content.

Key Market Projections: A Structural Shift Towards Casual and Interactive Content

The analysis underscores a pivotal moment for the Indian digital ecosystem, driven by regulatory changes that have cleared the path for mainstream casual gaming and esports:

Gaming Market Resilience: Despite regulatory intervention concerning online money gaming (RMG), the digital gaming sector is set to thrive. This market alone is projected to nearly double, reaching approximately $4.5 Billion by FY2030 and esports is expected to triple at $120 million by 2030.

• Hybrid Casual, the new format with similar Mid-core game-like progression and deeper meta systems is emerging as a key segment. 
• The Battle Royale genre continues to enable most monetisation.
• While the market is nearly equally split between ads and IAPs (In-App Purchases), the balance is expected to heavily tip towards IAPs in the next 5 years with ~6X growth.

Interactive Media Surge: Disruptor segments within interactive media are poised for exponential growth, expanding from an estimated $440 Million in FY2025 to $3.2 Billion by FY2030. Fastest-growing sectors include:Astro & Devotional Tech: Projected to grow 8x to $1.3 Billion by FY2030, digitizing a massive offline market through 1:1 consultations.

• Micro Drama: A nascent but high-potential segment mirroring successful models in China, expected to reach $1.1 Billion by FY2030 by capitalizing on short, serialized mobile-first video content.
• Audio Streaming: Expected to quadruple to $300 Million by FY2030, driven by high user engagement and localized content strategies.

The India Opportunity: Vernacularization and Social Connection

The report emphasizes that growth is increasingly driven by the ‘Bharat’ audience (Tier 2+ segments), who seek vernacular content, social identity through gaming communities, and new avenues for social connection. AI is also emerging as a key enabler, significantly lowering content creation costs and accelerating local game development.

Jens Hilgers, Founding General Partner at BITKRAFT Ventures: "India represents perhaps the most compelling greenfield opportunity globally. The confluence of a digitally native youth demographic, established mobile infrastructure, and massive scale is creating what we believe to be a hyper-growth environment. In our view, this is an inflection point, positioning India as a true global powerhouse for interactive entertainment."

Anuj Tandon, Partner, India & UAE at BITKRAFT Ventures: "It’s exciting to see India’s gaming sector entering a phase of durable growth, with local developers creating innovative and monetizable experiences that are beginning to resonate globally. We’re witnessing strong momentum across casual and hybrid-core titles, fueled by rising player engagement, new IP creation, and increasingly accessible payment ecosystems. Together, these factors are helping define the next chapter of India’s gaming and interactive media industry.”

DOWNLOAD THE REPORT HERE.

About BITKRAFT Ventures

BITKRAFT Ventures is a global investment platform at the intersection of games, immersive technology, digital assets, and AI. With over $1B in assets under management and more than 130 portfolio companies, BITKRAFT is built by founders for founders. The firm leverages deep domain expertise, a decentralized global presence, and institutional-grade infrastructure to back visionary teams building in interactive media and adjacent verticals. BITKRAFT’s core belief is that gaming is not just the largest entertainment sector—it is a catalyst for consumer and technology innovation and a blueprint for the future of digital experiences.

About Redseer Strategy Consultants

Redseer Strategy Consultants was founded in 2009 with a vision to provide data-backed recommendations and strategic guidance to businesses, investors, and policymakers operating in dynamic and data-deficient markets. Since then, they have become one of the leading advisory firms in India, MENA, SEA helping businesses, specifically in consumer-facing industries, navigate and accelerate their growth journeys. With a deep-rooted understanding of consumer behavior and market shifts. Redseer delivers growth-focused solutions across diverse industries, including digital media, retail, food, 828 and 8FSI. Their expertise is powered by 15+ years of IP in emerging markets, enabling them to generate BITKRAFT Ventures, a leading global investment platform for gaming and interactive entertainment, today announced the release of a report powered by Redseer Strategy Consultants, forecasting high growth in India's gaming and interactive media sector, despite the ban on real money gaming. The study reveals that the segment, already a key engine in India’s digital media & entertainment space, is projected to triple in size, reaching $7.7 Billion by FY2030

The report, "The Gaming and Interactive Media Opportunity in India," highlights that these segments are growing approximately 1.5 times faster than the overall digital media and entertainment market, fueled by India’s massive, young user base, nano-transactions, high smartphone engagement, and shifting consumer behavior toward interactive and personalized content.

Key Market Projections: A Structural Shift Towards Casual and Interactive Content

The analysis underscores a pivotal moment for the Indian digital ecosystem, driven by regulatory changes that have cleared the path for mainstream casual gaming and esports:

Gaming Market Resilience: Despite regulatory intervention concerning online money gaming (RMG), the digital gaming sector is set to thrive. This market alone is projected to nearly double, reaching approximately $4.5 Billion by FY2030 and esports is expected to triple at $120 million by 2030.

• Hybrid Casual, the new format with similar Mid-core game-like progression and deeper meta systems is emerging as a key segment
• The Battle Royale genre continues to enable most monetisation.
• While the market is nearly equally split between ads and IAPs (In-App Purchases), the balance is expected to heavily tip towards IAPs in the next 5 years with ~6X growth.

Interactive Media Surge: Disruptor segments within interactive media are poised for exponential growth, expanding from an estimated $440 Million in FY2025 to $3.2 Billion by FY2030. Fastest-growing sectors include:

• Astro & Devotional Tech: Projected to grow 8x to $1.3 Billion by FY2030, digitizing a massive offline market through 1:1 consultations.
• Micro Drama: A nascent but high-potential segment mirroring successful models in China, expected to reach $1.1 Billion by FY2030 by capitalizing on short, serialized mobile-first video content.
• Audio Streaming: Expected to quadruple to $300 Million by FY2030, driven by high user engagement and localized content strategies.

The India Opportunity: Vernacularization and Social Connection

The report emphasizes that growth is increasingly driven by the ‘Bharat’ audience (Tier 2+ segments), who seek vernacular content, social identity through gaming communities, and new avenues for social connection. AI is also emerging as a key enabler, significantly lowering content creation costs and accelerating local game development.

Jens Hilgers, Founding General Partner at BITKRAFT Ventures: "India represents perhaps the most compelling greenfield opportunity globally. The confluence of a digitally native youth demographic, established mobile infrastructure, and massive scale is creating what we believe to be a hyper-growth environment. In our view, this is an inflection point, positioning India as a true global powerhouse for interactive entertainment."

Anuj Tandon, Partner, India & UAE at BITKRAFT Ventures: "It’s exciting to see India’s gaming sector entering a phase of durable growth, with local developers creating innovative and monetizable experiences that are beginning to resonate globally. We’re witnessing strong momentum across casual and hybrid-core titles, fueled by rising player engagement, new IP creation, and increasingly accessible payment ecosystems. Together, these factors are helping define the next chapter of India’s gaming and interactive media industry.”

DOWNLOAD THE REPORT HERE.

About BITKRAFT Ventures

BITKRAFT Ventures is a global investment platform at the intersection of games, immersive technology, digital assets, and AI. With over $1B in assets under management and more than 130 portfolio companies, BITKRAFT is built by founders for founders. The firm leverages deep domain expertise, a decentralized global presence, and institutional-grade infrastructure to back visionary teams building in interactive media and adjacent verticals. BITKRAFT’s core belief is that gaming is not just the largest entertainment sector—it is a catalyst for consumer and technology innovation and a blueprint for the future of digital experiences. For a full list of public investments made to date, view BITKRAFT’s portfolio here.

About Redseer Strategy Consultants

Redseer Strategy Consultants was founded in 2009 with a vision to provide data-backed recommendations and strategic guidance to businesses, investors, and policymakers operating in dynamic and data-deficient markets. Since then, they have become one of the leading advisory firms in India, MENA, SEA helping businesses, specifically in consumer-facing industries, navigate and accelerate their growth journeys. With a deep-rooted understanding of consumer behavior and market shifts. Redseer delivers growth-focused solutions across diverse industries, including digital media, retail, food, 828 and 8FSI. Their expertise is powered by 15+ years of IP in emerging markets, enabling them to generate unparalleled insights for their clients. Redseer is known for its proprietary methodologies, deep consumer understanding, high-quality research, and an entrepreneurial mindset. Having a strong presence in India, Middle East. Southeast Asia, USA and UK, with headquarters in Bengaluru. Know more: www.redseer.com insights for their clients. Redseer is known for its proprietary methodologies, deep consumer understanding, high-quality research, and an entrepreneurial mindset. Having a strong presence in India, Middle East. Southeast Asia, USA and UK, with headquarters in Bengaluru. Know more: www.redseer.com

All projections and market forecasts are provided by Redseer Strategy Consultants and are subject to change. They do not constitute guarantees of future performance and should not be construed as indicative of BITKRAFT’s investment results. This material is provided for informational purposes only and should not be construed as investment advice or a solicitation to buy or sell any security. Projections and statements of opinion reflect those of the referenced third-party research provider and/or BITKRAFT Ventures at the time of publication and are subject to change. Past performance is not indicative of future results.

Atmanirbhar Bharat Milestone: Godrej’s MPR System Earns CE Mark for Global Standards

• Godrej Enterprises Group’s Storage Solutions business earns CE certification for Mobile Pallet Racking system

In a significant milestone, the Storage Solutions business of Godrej Enterprises Group has received the prestigious Conformité Européenne (CE) certification from TÜV NORD for its indigenously developed Mobile Pallet Racking (MPR) System. This recognition reinforces the system’s compliance with stringent European safety and quality standards and highlights India’s growing capability in delivering globally Bench marked engineering solutions.

Designed and manufactured in-house, the Mobile Pallet Racking System is a high-density, high-performance storage solution that eliminates fixed aisles to maximise warehouse capacity while ensuring selective pallet access. Built on mobile bases that glide effortlessly along floor-mounted rails, the system delivers superior space optimisation and operational efficiency. The CE certification confirms adherence to the European Machinery Directive and Electromagnetic Compatibility Directive, underscoring the system’s reliability, safety, and engineering excellence.

Mobile Pallet Racking system by Godrej Enterprises' Storage Solutions business

Mr. Vikas Choudaha, Business Head, Storage Solutions, Godrej Enterprises Group, said, “This certification reinforces our commitment to innovation, quality, and self-reliance. By engineering a world-class solution in India that meets rigorous international standards, we are enabling Indian industries to optimise their operations and demonstrating the growing global competitiveness of Indian manufacturing. This milestone reflects our belief in Atmanirbhar Bharat and our aspiration to contribute meaningfully to India’s leadership in intralogistics and advanced storage technologies.”

The CE mark opens new global opportunities for the MPR System, streamlining procurement and regulatory approvals in international markets, particularly across Europe and other CE-compliant regions. It also assures customers of the system’s performance in demanding industrial environments, backed by rigorous testing and technical validation. For global and domestic clients alike, the certification enhances trust, credibility, and ease of adoption.

boAt Parent Imagine Marketing Files ₹1,500 Cr IPO With SEBI

Imagine Marketing Limited, operating primarily under the “boAt” brand, ranked the largest brand in the branded personal audio category in India, with a market share of 26% in value terms and 34% in volume terms for the Financial Year 2025 has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI).

The proposed initial public offering comprises a total issue of equity shares of face value of ₹1 each aggregating up to ₹ 1500 Crores, with fresh issue of equity shares aggregating to Rs 500 Crores and offer for sale of equity shares aggregating to Rs 1000 Crores. The offer for sale comprises of equity shares aggregating to Rs 75 Crores by Sameer Ashok Mehta, equity shares aggregating to Rs 225 Crores by Aman Gupta, equity shares aggregating to Rs 500 Crores by South Lake Investment Limited (Promoter Selling Shareholders) as well as equity shares aggregating to Rs 150 Crores by by Fireside Ventures Investment Fund-I (Scheme of Fireside Ventures Investment Trust) and equity shares aggregating to Rs 50 Crores by Qualcomm Ventures LLC (Individual Selling Shareholders).

The Company proposes to utilize the Net Proceeds towards funding the working capital requirements of our Company amounting to Rs 225 Crores, funding the brand and marketing expenses towards enhancing the awareness and visibility of the products and brand amounting to Rs 150 Crores as well as for general corporate purposes.

The company operates primarily under the “boAt” brand, which was launched in 2015. The company is focused on offering audio, wearables and charging solutions products that cater to India’s rapidly growing cohort of young, digitally native and technology and trend-conscious customers. boAt has maintained its position as India’s leading branded personal audio company by volume every year from FY2020 to FY2025, according to the Redseer Report. The brand was also the third-largest digital-first brand in India by revenue in FY2025 and ranked fourth globally in volume terms across branded personal audio for the same period.

boAt is one of India’s largest digital-first consumer product companies with a capital-efficient growth history, a consistent #1 leadership position in the fast-growing audio category, and strong presence across adjacent segments. The brand enjoys significant equity, clear market positioning, and a compelling value proposition, backed by a robust innovation engine driven by in-house R&D and significant collaborations. Its products are designed and manufactured in India through an agile supply chain, supported by a diversified channel mix spanning leading online platforms and an expanding offline footprint, under the guidance of a professional, founder-led management team with deep industry expertise.

During FY2025, boAt sold over 34 million units in India, underscoring its leadership across the country’s fast-growing consumer tech ecosystem. While the company began its journey in the audio category, it has diversified into wearables such as smartwatches and smart rings, and charging solutions including cables, chargers, and power banks. As of June 30, 2025, boAt offered over 250 high quality, lifestyle-oriented and technology-focused products across price points.

For FY25, boAt reported total revenue from operations (sale of products) of ₹3070.38 Crores. By product category, the audio segment remained the primary revenue driver, contributing ₹2586.040 Crores or 84.23% of total revenue from operations. The wearables segment accounted for ₹330.414 Crores, forming 10.76% of total revenue, while other products contributed ₹153.933 Crores, comprising 5.01%. The figures underscore boAt’s continued leadership in the audio category, supported by growing traction in wearables and a diversified product portfolio across channels. For FY25, boAt reported a profit of ₹61.08 Crores, reflecting a turnaround from the losses recorded in the previous year. The company achieved an EBITDA of ₹142.519 Crores, translating to an EBITDA margin of 4.64%. These figures highlight a significant improvement in profitability and operational efficiency.

A digital-first brand, boAt has built a diversified distribution network spanning e-commerce marketplaces, its D2C website, and a rapidly growing offline presence. As of June 30, 2025, it reached over 12,000 offline retailers across 25 states and 5 union territories through 112 distributors and a presence at all leading omnichannel retailers including Croma and Vijay Sales as of June 30, 2025. For FY25, online channels accounted for ₹2166.072 Crores, representing 70.55% of total sales, while offline sales stood at ₹904.315 Crores, contributing 29.45%. The consistent strength of boAt’s omnichannel strategy underscores its balanced growth across both digital and physical retail platforms, supported by strong consumer demand and effective distribution reach across India.

The company also operates over 115 third-party service centres across India and has extended its reach to the Middle East, Nepal and other South Asian markets. For FY25, boAt derived the overwhelming majority of its revenue from operations within India, accounting for ₹3058.77 Crores or 99.62% of total sales.

With over 75 million units manufactured domestically and 75.83% of total units made in India in Q1 FY2026 (up from 39.65% in FY2023), boAt continues to strengthen its supply chain resilience and agility. Its founders, Sameer Mehta and Aman Gupta, CEO Gaurav Nayyar, a professional management team, and marquee investors including Warburg Pincus, Qualcomm Ventures, and Fireside Ventures, drive the company’s success.

ICICI Securities Limited, Goldman Sachs (India) Securities Private Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited are the bankers to the issue

Automobile Searches Soar Across India: 306% Jump in 2-Wheeler Searches, 193% in 4-Wheelers Amid GST Shift

• Two-wheeler searches surged 306% Pan-India (Sep–Mid Oct 2025 vs Mid Jul–Aug 2025), led by Delhi (+161%), Mumbai (+174%), Hyderabad (+129%), Pune (+150%), Chennai (+143%), and Bangalore (+116%). 
• Four-wheeler searches rose 193% Pan-India over the same period, with major traction in Bangalore (+153%), Mumbai (+125%), Pune (+123%), and Delhi (+80%)
• Justdial data highlights that the dual impact of GST reduction and festive momentum has fuelled a sharp rise in automobile-related searches across metros and emerging cities

With the festive season already setting the stage for high-value purchases, India’s automobile market is witnessing renewed energy, a trend further amplified by the recent reduction in the Goods and Services Tax (GST), which has improved affordability and boosted consumer sentiment across vehicle categories.

Under the revised structure, small cars (petrol engines up to 1,200 cc / diesel up to 1,500 cc and up to 4,000 mm in length) are now taxed at 18% instead of 28%, while larger-capacity vehicles attract a flat 40% rate. This change is expected to make entry-level and compact vehicles significantly more affordable for buyers.

According to data from Justdial, India’s No. 1 local search engine, automobile-related searches have surged sharply in recent months, reflecting the combined influence of festive buying momentum and the GST cut. To gauge this shift, Justdial compared search trends between September–Mid October 2025 and Mid July–August 2025.

During this period, two-wheeler searches spiked 306% Pan-India, underscoring strong consumer response to improved price accessibility and festive buying sentiment. Delhi (+161%), Mumbai (+174%), Pune (+150%), Hyderabad (+129%), Chennai (+143%), and Bangalore (+116%) emerged as the leading growth markets.

Four-wheeler searches mirrored this enthusiasm, growing 193% Pan-India in the same period. Demand accelerated in Bangalore (+153%), Mumbai (+125%), Pune (+123%), and Delhi (+80%), highlighting how the GST cut has encouraged both first-time buyers and upgraders in the mid- and premium segments.

Together, the data reveals that policy reform and festive optimism are jointly fuelling India’s automobile revival. The GST rate cut has expanded affordability, while the festive season, traditionally associated with new beginnings and major purchases, is amplifying intent across both two- and four-wheeler segments.

With search volumes rising across metros and Tier-II cities alike, Justdial’s findings signal a market firmly in motion, where affordability, aspiration, and accessibility are converging to power India’s next wave of automobile growth.

APPENDIX

GST Effect 2025 (Sep–Mid Oct’25 vs Mid Jul–Aug’25)

Two-Wheeler:

• Pan India – 306%
• Delhi – 161%
• Mumbai – 174%
• Hyderabad – 129%
• Pune – 150%
• Chennai – 143%
• Bangalore – 116%

Four-Wheeler:

• Pan India – 193%
• Delhi – 80%
• Pune – 123%
• Mumbai – 125%
• Bangalore – 153%

About Just Dial Limited

Just Dial Limited provides local search related services to users in India through multiple platforms such as Desktop/PC website (https://www.justdial.com), mobile site (https://t.justdial.com), mobile apps (Android & iOS), over the telephone (Voice, pan India number 88888-88888) and text (SMS). Justdial’s latest version of JD App, is an All-in-One App, replete with features like Map-aided Search, Live TV, Videos, Stock quotes, etc. to make the life of the consumer infinitely smoother & more engaging.

The Company has recently launched its B2B marketplace platform, JD Mart. JD Mart platform, available at https://www.jdmart.com and via apps on Play Store and App Store, is aimed at enabling millions of India’s manufacturers, distributors, wholesalers, retailers to become internet-ready in post-COVID era, get new customers and sell their products online. The platform offers digital product catalogues to businesses and aims at digitalising India’s businesses, especially MSMEs, across categories. Buyers can discover quality vendors offering a wide selection of products to choose from, spread across millions of categories to suit all B2B needs.

Justdial has also initiated transaction-oriented services for its users. These services aim at making several day-to-day tasks conveniently actionable and accessible to users from one App. With this step, Justdial is transitioning from being purely a provider of local search and related information to being a direct/ indirect enabler of such transactions. Justdial has also recently launched an end-to-end business management solution for SMEs, through which it intends to transition thousands of SMEs to efficiently run business online and have their adequate online presence via their own website, mobile site. Apart from this, Justdial has also launched JD Pay, a unique solution for quick digital payments for its users and vendors.

AI powered B2B Visa Processing Company StampMyVIsa raises Rs 4 crore in Bridge Round Led by Unicorn India Ventures

• StampMyVisa has also launched premium services like SMV Insure and SMV Global for the global travelers.
• Over the next 12 – 18 months, the company will also build fintech infra with payment solutions and embedded credit to fuel India’s SMEs business growth.
• They also plan to expand their visa tech infra to GCC countries

AI powered B2B Visa processing company StampMyVisa has raised a bridge round of Rs 4 crore led by Unicorn India Ventures (UIV). UIV is an existing investor in the company and last year, it invested Rs 6.6 crore in SMV leading their seed round. The bridge round has been raised to reach critical milestones by the Company as they gear up for a larger Series A round in the next financial year.

The current capital will be used for future growth of the company, marketing and supporting the acquisition of Teleport. SMV had recently acquired Teleport to expand its operations in South India. The Company has achieved a 4X growth in its revenues. The visa processing capabilities have been further enhanced by using AI backed proprietary software Nucleus, built by SMV inhouse, that has resulted in a success rate of 99.5% with 75,000+ visas processed in the last 6 months alone

Commenting on the fund raise, Rahul Borude, Co-founder CEO, StampMyVisa, says, “India’s economic growth is driving outbound travel for work, studies and pleasure. While there is a tech disruption taking place in every aspect of foreign travel, visa processing still remains a highly manual process. We see this as a last mile gap to be addressed. With the help of AI, visa documentation can be virtually made error-free, thus bringing down the chances of rejection considerably. Our platform enables travel agents, corporates, OTAs and MICE to process visas for over 80 countries. As we continue to improve our offerings, we are also going to enter GCC countries.” 

StampMyVisa has also launched premium offerings for travelers to provide more comfort while traveling to foreign destinations. This includes, SMV Insure: Trip Protection Insurance where If Visa gets rejected, SMV would refund the booking value to the traveller. SMV Global: Global Internet connectivity via SMV's proprietary eSim Product that enables travellers to enjoy affordable & uninterrupted connectivity, which is 40% cheaper than regular International roaming offered by telecom providers.

Anil Joshi, Managing Partner, Unicorn India Ventures, says, “We invested in SMV last year and have seen Rahul and his team building a truly global product which is made in India. Visa processing is a highly stressful process and over 35% rejections are due to human error, the paper work, timelines and dependencies on manual processes has many a times played spoilsport in the travel planning of many professionals, students and even leisure travellers. SMV understands this problem and with an intelligent use of AI is streamlining the entire process. Seeing them hit one milestone after the other, we decided to continue our investment round in the company as we gear up for an accelerated growth trajectory and a larger round on the horizon.”

SMV’s key driver in future growth is going to be its enhanced capabilities in processing ~80% of visas within 5 minutes of receiving applications. This beats the current industry standard of 2 days. Tech automation with the deep integration of AI will enable SMV to provide users with a tentative % probability of their visa getting approved. This comes in handy for European and US visas. The company currently serves 80+ countries each month and will keep on serving them with increased efficiency in the order processing leading to shorter processing times.

About Unicorn India Ventures

Started in 2016 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures is a technology focused early-stage venture fund that invests in emerging and visionary startups. Unicorn India Ventures launched its first fund with a corpus of Rs 100 crore and invested in 17 companies like SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, FutureCure to mention some. The Fund has emerged as the best performing early-stage fund in India with the stellar exits provided by the fund to its LPs.

Fund II is a Rs 300 Cr fund launched in 2020 that has invested in 20 companies so far like Gamerji, Probus, Daalchini, Windo, HiWi. Most of the portfolio is scaling up fast and has had several uprounds.

Unicorn India Ventures is closing its Rs 1000 Cr Fund III.

With this Fund, UIV aims to build a portfolio of 20 startups that are focused mostly in the deep tech sector that includes semiconductor, space tech, and medical diagnostics apart from SaaS and India digital platforms. Unicorn has already made 16 investments from this fund and includes companies like Netrasami, Qubehealth, Orbitaid, Aurassure , PELocal, Kluisz amongst others.

About StampMyVIsa

StampMyVisa is a revolutionary AI-powered platform that simplifies the complex visa application process for businesses.

Specialising in B2B travel, the platform helps corporates, travel agents, MICE companies, and OTAs streamline and automate visa processing, ensuring faster approvals, reduced errors, and enhanced global compliance. With its scalable and user-friendly technology, StampMyVisa is positioned to transform how businesses manage international travel documentation, empowering them to scale globally with ease

India’s Aerospace Ambitions Soar as Tata and Safran Unveil Advanced LEAP Engine Facility in Hyderabad

Tata Advanced Systems Limited, one of India's leading private sector aerospace and defense solutions provider, in partnership with Safran Aircraft Engines, a world-leading commercial and military aircraft engine manufacturer, inaugurated their cutting-edge manufacturing facility at the Tata Centre of Excellence for Aero Engines in Adibatla, Hyderabad. The facility will produce complex rotating parts for the CFM LEAP engine, including cutting-edge machining and special processes under one roof.

The ceremony was held in the presence of Shri D. Sridhar Babu, Honourable Minister for Information Technology, Electronics & Communications, Industries & Commerce, and Legislative Affairs, Government of Telangana, along with senior officials from Tata Advanced Systems, Safran and government dignitaries.

The inauguration ceremony marks a significant milestone in the strategic collaboration announced in January 2024, when both companies signed a long-term agreement for the production of rotating parts for the LEAP engine, developed by CFM International, a 50-50 joint venture between GE Aerospace and Safran Aircraft Engines. LEAP engines, which power the majority of new generation narrowbody aircraft, continue to deliver on performance commitments, with 15% better fuel efficiency, much lower noise than previous generation engines and high utilization.

“Rotative Aeroengine components represent the pinnacle of aerospace technology and this world-class facility reflects our commitment to building advanced manufacturing capabilities in India and our proven ability to industrialize complex global aerospace programs,” said Sukaran Singh, Chief Executive Officer and Managing Director, Tata Advanced Systems Limited. “Being part of the LEAP program—among the world’s highest-selling engine platforms—underscores our focus on precision, quality, and excellence for the global aerospace supply chain.”

“Beyond its state-of-the-art infrastructure, this plant lies at the very heart of Safran Aircraft Engines’ Supply chain strategy: manufacturing closer to our markets, strengthening our supply chain resilience, and delivering to our customers the highest standards of quality, safety, performance, and sustainability”, said Dominique Dupuy, Senior Vice President Purchasing, Safran Aircraft Engines. "This is a significant milestone for both Safran Aircraft Engines and our partner, Tata Advanced Systems Limited which marks a new chapter in our partnership, driven by our shared commitment to industrial excellence and technological innovation in aerospace."

India represents the third-largest operator of LEAP engines globally, with 75% of Indian commercial aircraft equipped with CFM's advanced turbofan technology. To date, more than 2,000 LEAP engines have been ordered by Indian airlines, underscoring the critical importance of establishing robust manufacturing and support capabilities in the country.

The Tata Centre of Excellence for Aero Engines, established in 2018, has been purpose-built to manufacture complex aeroengine components for India and the global supply chain. The facility incorporates Industry 4.0 practices, featuring advanced precision-machining technologies and complex aeroengine special processes under one roof.

About Tata Advanced Systems Limited

Tata Advanced Systems Limited, a wholly owned subsidiary of Tata Sons, is a significant player for aerospace and defense solutions in India. Tata Advanced Systems offers a full range of integrated solutions across: Aerostructures & Aeroengines, Airborne Platforms & Systems, Defense & Security, Land Mobility. Tata Advanced Systems has a strong portfolio of partnerships and joint ventures with leading global aerospace and defense firms, making it an integral partner in the international supply chain and in some instances, a global single source provider for leading defense OEMs. With the requisite capabilities, resources and scale, Tata Advanced Systems is equipped to deliver end-to-end innovative solutions throughout the entire aerospace and defence value chain from design to full platform assembly, and is well positioned in technologies that include missiles, radars, unmanned aerial systems, artillery guns, command and control systems, optronics and homeland security apart from world class protected mobility solutions. For more information: https://www.tataadvancedsystems.com or follow @tataadvanced on X and LinkedIn

Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 100,000 employees and sales of 27.3 billion euros in 2024, and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and Innovation roadmap.

Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.

Safran Aircraft Engines designs, produces, sells, alone or in partnership, commercial and military aircraft engines offering world-class performance, reliability and environmental-friendliness. Through CFM International, Safran Aircraft Engines is the world’s leading supplier of engines for short and medium-haul commercial jets. For more information: www.safran-group.com and www.safran-aircraft-engines.com / Follow @Safran and @SafranEngines on X

Renault Announces the Return of the Iconic Duster—this Republic Day, the Country’s OG SUV Invites You to Rethink SUV

Renault India, a wholly owned subsidiary of the French carmaker Renault Group, today officially announced that its much-awaited new SUV will proudly carry forward the legacy of the iconic nameplate – Duster.

Originally launched in India in 2012, the Renault Duster redefined the SUV landscape and pioneered a segment that today accounts for nearly one-fourth of the passenger vehicle market. The Duster is also going to be the first product to be launched under the brand’s International Game Plan 2027 in India. The car is a key pillar company’s India centric transformation strategy renault. rethink.

Speaking on the occasion, Stephane Deblaise, CEO Renault Group India said “Renault Duster is more than just a name – it’s a true legend. A symbol of adventure, reliability and innovation, its comeback shows our commitment to the Indian market and our desire to offer vehicles that meet the needs of our customers. New Renault Duster will rely on its iconic heritage while adopting a modern design, advanced technology and enhanced performance.”

The announcement marks a significant moment for Indian automotive enthusiasts, many of whom have long awaited the return of the beloved SUV. With close to 1.8 million customers globally and more than 200,000 happy owners in India, the Duster enjoys a cult following and remains one of the most successful SUVs in Renault’s global portfolio.

The icon will be unveiled on Republic Day – 26th January 2026. Until then, stay in the loop by joining the waiting program starting today.

ABOUT RENAULT

Renault, a historic mobility brand and pioneer of electric vehicles in Europe, has always developed innovative vehicles. With the ‘Renaulution’ strategic plan, Renault has embarked on an ambitious, value-generating transformation moving towards a more competitive, balanced, and electrified range. Its ambition is to embody modernity and innovation in technology, energy, and mobility services in the automotive industry and beyond.

Renault India Pvt. Ltd. is a fully owned subsidiary of Renault S.A.S. France. Renault India cars are manufactured in the manufacturing facility located in Oragadam, Chennai, with a capacity of 480,000 units per annum. Renault India also has a widespread presence of close to 350+ sales and 450+ service touchpoints, which include 250+ Workshop on Wheels locations across the country, with benchmark sales and service quality.

Bessemer Venture Partners Unveils AI Services Roadmap - Projects IT Sector to Reach $400B by 2030

Bessemer Venture Partners revealed an AI services roadmap today - their thesis on how AI native companies will disrupt India’s $264 billion IT services sector.

India’s IT services exports form the backbone of global technology and is a powerhouse driving digital transformation worldwide. Today the industry stands at a generational crossroads. As large language models (LLMs) and AI disrupt traditional, people-heavy outsourcing methods, both global enterprises and nimble startups are disrupting traditional delivery models.

Before the current wave of AI-native disruption, India’s IT services giants had perfected a powerful operating playbook-built on three pillars:

• a vast and skilled talent pool,
• strong cost arbitrage, and
• the ‘follow-the-sun delivery’ model.

Despite fears of displacement after the rise of ChatGPT and other LLMs, Indian IT services revenues and margins remain resilient. Enterprises still rely on these firms for complex projects, where embedded engineers and subject matter experts provide business-specific context that AI alone can’t capture.

Yet, seamless transformation into an AI native world is hindered by billable-hour models, standardized entry-level workforces, and low R&D spend (under 2% versus over 20% for global product firms). In essence, the growth of large, traditional IT and outsourcing firms remains driven by headcount rather than productivity gains.

AI-first startups and platforms are already proving their ability to deliver outcomes that are better, faster, and more cost-efficient. They benefit from:Exceptionally skilled founding teams with deep domain expertise
AI-driven, product/platform-first mindsets
Rapid time-to-value and measurable ROI
Usage or outcome-based pricing. 

Bessemer has identified three fast-emerging categories of AI-first challengers poised to disrupt existing service models:

• Pure software plays: intelligent platforms that fully automate tasks end-to-end-delivering high-speed, scalable outputs with minimal human input. Eg: Graph AI , Leena AI
• AI enabled services - hybrid models blend AI automation with human‑in‑the‑loop (HITL) oversight. Example: Crescendo and Shopdeck
• Services for AI - These firms supply the data, model operations infrastructure, and evaluation capabilities needed to build net new AI solutions. Eg: Scale, Turing

Bessemer highlights seven key factors that determine a challenger’s ability to truly disrupt incumbents: team quality, platform stickiness, time-to-value, margins, distribution, pricing strategy, and market focus.

India’s IT services industry is projected to exceed $400B by 2030, as AI fundamentally reshapes how enterprises source and deliver technology. While AI-driven efficiencies will compress pricing in the short term, the exponential growth in AI capabilities will dramatically expand both the propensity and ability of global enterprises to outsource complex workflows. This next wave of outsourcing will fuel the sector’s growth, with AI-first products and startups poised to capture outsized value by delivering smarter, faster, and more adaptive solutions.

HGS Launches Interaction Intelligence to Drive Next-Gen CX and Unlock Strategic Value

Hinduja Global Solutions (HGS) (listed on BSE & NSE), a leading provider of digital experience, business process management (BPM), and digital media services, today announced the launch of Interaction Intelligence, an enterprise-grade artificial intelligence (AI) solution based on the HGS Agent X framework, that transforms Quality Assurance (QA) from a routine customer service function into a powerful strategic asset that delivers actionable insights and intelligence into the clients’ voice.

In an environment where customer expectations for seamless, personalized, and proactive engagement are rapidly rising, HGS’s Interaction Intelligence solution enables enterprises to analyze nearly 100% of customer interactions across omni-channels, thus expanding traditional QA coverage by up to 100 times. This comprehensive data capture and analysis platform fuses conversational, behavioral, and operational metrics in real time, providing deep visibility into compliance, agent performance, and customer loyalty drivers.

The benefits of deploying the solution include:

• Enhanced CX through well-trained agents and better campaign effectiveness and product searchability
• Cost competitiveness through reduced costs and generation of revenues (cross-selling/ up-selling)
• Brand reputation improvement through direct customer feedback integration with expanded coverage. 
• Actionable insights into trends to support strategic decision-making

Built on decades of domain expertise and data, the solution measures tone, empathy, accuracy, and procedural adherence at scale, creating a holistic and unbiased assessment of interaction quality that translates into measurable operational improvements.

According to Gartner, the customer service software (CSS) market, which includes AI and Gen AI capabilities, is expected to grow to $73.4 billion by 2028 from $43.6 billion in 2024, at a CAGR of 13.8%. This rapid growth underscores the expanding demand for AI-driven solutions that enhance service quality and operational efficiency across industries.

“Interaction Intelligence exemplifies HGS’s commitment to innovation-led growth and market leadership in AI-powered customer experience. By turning the traditional QA function into a dynamic, data-driven engine for strategic decision-making, we unlock new value streams for our clients and enhance our own competitive advantage,” said Venkatesh Korla, Global CEO of HGS. “This launch positions us strongly to capitalize on increasing CX transformation investments within a rapidly growing market, driving sustained returns for our clients.”

The launch of Interaction Intelligence marks a significant milestone in HGS’s evolution from traditional BPO to an AI-powered Intelligent Experience Company, unlocking new growth avenues with scalable, high-margin digital transformation services. HGS is currently deploying the solution for a few clients in the Americas.

About Hinduja Global Solutions (HGS):

A global leader in optimizing the customer experience lifecycle, digital transformation, business process management, and digital media ecosystem, HGS is helping its clients become more competitive every day. HGS’ combines automation, analytics, and artificial intelligence with deep domain expertise focusing on digital customer experiences, back-office processing, contact centers, and HRO solutions. HGS’ digital media business, NXTDIGITAL (www.nxtdigital.in), is India’s premier integrated Digital Delivery Platforms Company delivering services via satellite, digital cable and broadband to over 6 million customers across 1,500 cities and towns.

Part of the multi-billion-dollar conglomerate Hinduja Group, HGS takes a “globally local” approach. HGS has 18,472 employees in nine countries, including 33 delivery centers, making a difference to some of the world’s leading brands across verticals. For the year ended March 31, 2025, HGS had total income of Rs. 4,958.8 crore (US$ 586.1 million). Visit https://hgs.cx to learn how HGS transforms customer experiences and builds businesses for the future.

Piyush Goyal To Speak At India’s Largest Deeptech Event- TiEcon Delhi 2025

• Report release that Spotlights 50 Notable Women in AI 2025

Stage is set for the ultimate deeptech conference that unites founders, CXOs, policymakers, investors, scientists, and builders to drive India's transformative decade in AI, quantum computing, semiconductors, space, defense, biotech, and life sciences.

Key speakers at the event include leaders from diverse sectors such as e-commerce, energy, defense, technology, and finance. TiEcon Delhi-NCR 2025 brings together an exceptional lineup of visionaries and leaders driving India’s Deeptech decade. The conference will feature Shri Piyush Goyal, Union Minister of Commerce & Industry, Government of India, as the Grand Keynote Speaker. Joining him are industry and policy stalwarts including Sanjiv Singh, Joint Secretary at the Department for Promotion of Industry and Internal Trade (DPIIT); Saurabh Srivastava, Chairman Emeritus of TiE Delhi-NCR; Abhishek Singh, Additional Secretary at MeitY and CEO of India AI Mission; and Dr. Shivkumar Kalyanraman, CEO of the Anusandhan National Research Foundation. Thought leaders from global and domestic innovation ecosystems such as Pragya Misra Mehrishi, Lead for Public Policy & Partnerships (India) at OpenAI; Vani Kola, Founder and Managing Director of Kalaari Capital; Mohit Bhatnagar, Managing Director at Peak XV Partners; Deep Kalra, Founder and Group Executive Chairman of MakeMyTrip; and Srinath Ravichandran, Co-Founder and CEO of AgniKul Cosmos, will also share their insights. Together, these distinguished speakers represent the diverse forces shaping India’s journey toward becoming a global Deeptech powerhouse.

This year’s edition brings together the most defining conversations of India’s innovation decade through strategic keynotes and policy dialogues such as Powering India’s Strategic Decade and How India Can Win the Global AI Race, featuring national mission leaders and ecosystem catalysts. It will spotlight frontier-tech tracks driving India’s technological sovereignty, showcasing deep science ventures solving India-scale challenges. Attendees can look forward to meaningful founder–investor interactions through curated sessions like the Capital Sunrise Investor Breakfast, Growth Capital Lunch, and Moonshot Mixer, designed to turn conversations into collaborations. The Lab2Scale showcase will bridge research and commercialization. The event also scales mentorship through the TiE Institute, 1:1 mentoring lounges, and themed Dialogue Hours, while unveiling major reports and recognitions such as the SPF 100 Desi Deeptech Launch, TiE Report – India: A Startup Superpower @2035, CXXO Women Disruptors, Wired for Impact – Women in Ind(AI), and the Emerging Finance Leader Awards 2025.

TiEcon Delhi-NCR themed India's Deeptech Ascent is proudly brought to you by TiE Delhi-NCR, one of the most dynamic and pioneering chapters in the global TiE network on October 29–30, 2025, at Taj Palace, New Delhi. It will offer a complete ecosystem experience, from inspiration to execution. The program features electrifying keynotes and immersive deep-dive tracks spanning the full frontier of innovation: AI, quantum, semicon, space, defense, biotech, and life sciences.

Commenting on the upcoming event, Ms. Geetika Dayal, Director General, TiE Delhi-NCR, said, "India's deeptech ecosystem has reached an inflection point where research excellence meets market opportunity. Building on our 25-year legacy of powering entrepreneurship, TiEcon Delhi-NCR 2025 is where this vision ignites into reality. This isn't just another conference, it's India's deeptech war room. We've designed this for serious builders: all-day investor access, mentoring roundtables over lunch, closed-door connections, and high-density collision points between brilliant minds and bold capital. From Lab2Scale showcases and Power Tracks on AI, Quantum, Space & Defense-Tech, to our CXXO: No Ceiling Summit for women entrepreneurs, every element is engineered for outcomes. If you're building for Bharat and beyond, you need to be in the room."

The event also features a series of allied spotlights that celebrate innovation, leadership, and inclusivity across India’s startup ecosystem. The No Ceiling Summit by CXXO and Kalaari Capital adds to the TiEcon Delhi-NCR programming, spotlighting women leaders and bold, ceiling-breaking entrepreneurs who are redefining business leadership. The TiE–Binary Emerging Finance Leader Awards 2025 will recognize outstanding financial leadership shaping the country’s innovation-driven economy. Adding a strong research-to-market focus, Lab2Scale at TiEcon Delhi-NCR (Oct 29–30) will showcase 10–12 promising research projects through five-minute stage pitches and curated Founder & Industry Huddles, complemented by a commercialization masterclass and a two-hour go-to-market working session with matched founders.

As part of the CXXO initiatives at TiEcon Delhi-NCR, a landmark report, CXXO Wired for Impact — Women in Ind(AI) by Kalaari Capital, will also be launched at the event. Artificial Intelligence is reshaping how India works, learns, and leads. But while the country stands at the forefront of this technological wave, women remain underrepresented in the very systems defining its future. It celebrates Notable women in AI 2025, and the report will release 50 names of notable women in AI 2025. CXXO Wired for Impact: Women in Ind(AI) is a first-of-its-kind compilation of key insights on India’s AI–ML workforce, mapping where women stand across the AI value chain and how greater diversity in participation can strengthen the accuracy, inclusivity, and global competitiveness of AI built from India.

In a world reshaped by supply-chain realignments and tech rivalries, India’s deep tech moment is a geopolitical and economic imperative. TiEcon Delhi-NCR 2025 focuses on sovereignty-critical technologies, national IP creation, and the virtuous cycle of talent–capital–markets, aligning with national missions such as IndiaAI and the deeptech push with ANRF.

TiEcon Delhi-NCR is proudly supported by Kalaari Capital, Amazon Web Services (AWS), Department of Science & Technology, Indian Angel Network, NatWest, STPI, and leading organizations across the ecosystem.

To register, visit: https://events.tie.org/Delhi-NCR/tiecondelhincr.

For more information, log on to www.tiecon-delhi.in

About TiE Delhi-NCR

Fostering entrepreneurship for over two decades, TiE Delhi-NCR stands as one of the most dynamic and impactful chapters of the global TiE Network. Renowned for its marquee events, high-impact mentoring programs, prestigious entrepreneurial awards, and powerful investor pitch platforms, TiE Delhi-NCR plays a pivotal role in shaping India’s startup landscape. With a mission to empower entrepreneurs at every stage, TiE Delhi-NCR offers access to industry experts, seasoned mentors, and global networks, helping founders scale their ventures beyond imaginable limits. Through consistent efforts to expand, explore, and elevate, TiE Delhi-NCR continues to evolve as India’s most credible and influential platform supporting entrepreneurial growth and innovation.

IB Launches First-Ever Community Inspiration Award to Honour Global Changemakers

The International Baccalaureate (IB) has launched its inaugural Community Inspiration Award during the IB Global Conference in The Hague, Netherlands.

This new global initiative marks the IB’s first formal award programme honouring outstanding individuals across its worldwide community who have demonstrated excellence and made a significant impact in advancing the IB’s mission. Starting in 2026, three exceptional recipients will be recognised each year — one representing each of the IB’s global regions: Asia-Pacific (APAC), the Americas, and Africa, Europe and the Middle East (EMEA).

For 57 years, the IB has celebrated educators, students, alumni, and other community members who bring its mission to life and make a difference locally and globally. This new award formalises that recognition on an individual level, shining a light on those who truly exemplify IB values through their voice, impact, innovation and shared humanity.

“Today, thousands of our community members across APAC are advancing the IB mission in new and inspiring ways — from driving technology and innovation to fostering greater intercultural understanding in a changing world," said Stefanie Leong, Head of Development and Recognition, Asia Pacific at the IB. “Their compassion, creativity and leadership continue to reflect the very best of what IB stands for and shape the future of our community. We are excited to celebrate these individuals and their impact through this new award.”

Nominations for the 2026 awards are now open until 14 November 2025. Eligible nominees include individuals from the IB community of candidates and World Schools – such as students, alumni, parents, educators, and administrators – or anyone with direct ties to an IB school, association, network or system.

Nominees will be evaluated by a judging committee based on four criteria that reflect the spirit of the IB:

• Use of Voice – How the nominee uses their voice effectively – whether locally, nationally, or globally – to support the IB’s mission and advocate for “more IB”.
• Impact – How the nominee’s role and contributions demonstrate sustained impact reflective of IB community values.
• Innovation – How the nominee takes risks and overcomes obstacles to drive innovation, in line with the IB learner profile.
• Shared Humanity – How the nominee exemplifies the qualities of being human, such as care, compassion and open-mindedness.

Award recipients will be honoured at IB Global Conferences within their respective regions. The Asia-Pacific awardee will be announced at the Asia-Pacific IB Global Conference in March 2026.

For more information about the award and nomination process, please visit the official IB website.

About the IB

Founded in 1968, the International Baccalaureate (IB) pioneered a movement of international education and now offers four high quality, challenging educational programs to students aged 3-19. The IB gives students distinct advantages by providing strong foundations, critical thinking skills, and proficiency for solving complex problems while encouraging multiculturalism, curiosity, and a healthy appetite for learning and excellence. In a world where asking the right questions is as important as discovering answers, the IB champions critical thinking and flexibility in study by crossing disciplinary, cultural, and national boundaries. Supported by world-class educators and coordinators, the IB currently engages with more than two million students in over 6,000 schools across more than 160 countries. To find out more, please visit www.ibo.org/.

China Accuses India of Unfair EV Subsidies at Global Trade Body

China has officially lodged a complaint with the World Trade Organization (WTO) against India, alleging that its electric vehicle (EV) and battery subsidy programs unfairly favor domestic manufacturers and violate global trade rules.

Key Allegations from China

Violation of WTO principles: China claims India’s subsidies breach the principle of national treatment and constitute import substitution subsidies, which are explicitly prohibited under WTO rules.

Discrimination against imports: The complaint highlights that India’s Production Linked Incentive (PLI) schemes for EVs and advanced chemistry cell (ACC) batteries are contingent on the use of domestic goods, thereby disadvantaging foreign products—especially Chinese exports.

Schemes under scrutiny:

• ₹18,100 crore National Programme on ACC Battery Storage. 
• ₹25,938 crore PLI Scheme for Automobile and Auto Components. 
• Additional schemes promoting domestic EV manufacturing

India’s Position (Implied)

India offers some of the world’s highest subsidies on electric cars. For example, the Tata Nexon EV reportedly receives subsidies amounting to nearly 46% of its price, including reduced GST and other incentives.

What Happens Next?

China has requested consultations under the WTO’s dispute settlement mechanism—a formal first step in resolving trade disputes. If unresolved, the case could escalate to a WTO panel and potentially lead to retaliatory measures or mandated policy changes.

BSE Index Services launches BSE Multicap Consumption (50:30:20) Index

BSE Index Services Pvt. Ltd., a wholly owned subsidiary of BSE, today announced the launch of a new index - BSE Multicap Consumption (50:30:20) Index. The BSE Multicap Consumption (50:30:20) Index aims to track the performance of stocks representing the Consumption theme. Top 100 stocks from a universe of stocks belonging to the MEI Sectors ‘Consumer Discretionary’ or ‘Fast Moving Consumer Goods (FMCG)’ would be included in the index.

The BSE Multicap Consumption (50:30:20) Index is derived from the constituents of BSE 500 Index, weighing method is Float-Adjusted Market Cap with the base value as 1000. The first value date is 19th December 2005, and it is reconstituted Semi-annually in June and December.

Speaking at the launch, Mr. Ashutosh Singh, MD & CEO said, “The BSE Multicap Consumption Index offers a holistic representation of India’s enduring consumption story across market capitalizations, a theme that the government of India has repeatedly supported through various policy and taxation measures. Designed with investors and asset managers in mind, the index provides a robust benchmark and an investable framework for gaining access to a diversified portfolio of consumption-oriented companies”

This new index can be used for running passive strategies such as ETFs and Index Funds as well as gauging the performance of Consumption sector in India. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolios. Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE's suite of indices.

Click here to know more about the index.

WazirX to Restart on 24th October With 0% Trading Fees

WazirX, India’s leading crypto exchange, is restarting operations on 24th October. This follows the successful completion of its restructuring process, sanctioned by the Hon’ble High Court of Singapore, and backed overwhelmingly by creditors.

This marks a fresh chapter in the platform’s journey to rebuild trust, transparency, and innovation.

As part of the Restart Offer, all users will enjoy 0% trading fees across all trading pairs. This initiative will help WazirX users to trade without the burden of fees on each trade.
Phased Launch Approach

The relaunch will begin with certain crypto-to-crypto pairs and USDT/INR pair, followed by the gradual expansion of additional markets in the coming days.
Renewed Commitment to Security and Transparency

In a major step towards enhancing fund safety, WazirX has partnered with BitGo, a global leader in digital asset custody, to safeguard platform assets through institutional-grade, insured custody solutions.

Nischal Shetty, Founder of WazirX, said,

At the heart of everything we do is our mission to make crypto accessible to every Indian. I want to thank the WazirX community for their patience through these difficult times.

Asset security is currently a crucial aspect in the global crypto ecosystem. Our partnership with BitGo adds an additional layer of trust and protection with world-class custody standards, as we restart. This isn't just a return to operations, it’s a reinforcement of our integrity which we’ve always strived for.”

Earlier this week, WazirX completed token swaps, merger, delisting, migration of tokens and any rebranding that the tokens may have undergone. WazirX is able to restart operations and initiate token distributions to creditors within 10 business days as estimated. In addition, the platform is working towards issuance of Recovery Tokens to creditors.

For more information, visit www.wazirx.com

How India Anticipated the US Tariff Shock with Aatmanirbhar Bharat Back in 2020

When Prime Minister Narendra Modi unveiled the Aatmanirbhar Bharat (Self-Reliant India) initiative in May 2020, critics saw it as a pandemic-era slogan. But five years later, as the United States imposes steep tariffs on Indian exports—raising duties to 50% on key sectors—Modi’s vision looks less like a reaction and more like strategic foresight.

The Premonition: Building Resilience Before the Storm

Aatmanirbhar Bharat was never just about domestic pride. It was a calculated pivot toward economic insulation and global leverage. The PM Modi’s five-pillar framework—economy, infrastructure, system, demography, and demand—was designed to:

• Reduce import dependency
• Strengthen domestic manufacturing
• Create export-ready sectors with minimal geopolitical risk

In hindsight, it reads like a blueprint for surviving—and thriving—under external economic pressure.

The Tariff Tsunami: US Strategy in 2025

In August 2025, President Donald Trump’s administration raised tariffs on Indian exports to 50%, targeting textiles, gems, leather, and chemicals. These sectors represent over half of India’s $87B exports to the US. Pharmaceuticals and semiconductors were spared, but the shockwaves were felt across India’s trade corridors.

As of October 2025, the United States and India are on the verge of finalizing a major trade agreement that could dramatically reduce tariffs on Indian exports to the US—from the current 50% down to approximately 15–16%.

Current Tariff Landscape

• Tariff Rate: US tariffs on Indian goods were raised to 50% in August 2025 under President Donald Trump’s directive.
• Affected Sectors: Textiles, gems and jewellery, leather, marine products, and chemicals—impacting over 55% of India’s $87B exports to the US.
• Exempted Sectors: Pharmaceuticals, semiconductors, energy, and critical minerals remain unaffected to preserve supply chain stability.

Strategic Correlation: Aatmanirbhar Bharat as Preemptive Defense

Aatmanirbhar Bharat Pillar	2025 Tariff Impact	Strategic Buffer Created
Economy	Export slowdown	Diversified domestic demand
Infrastructure	Supply chain stress	Localized logistics hubs
System (Tech & Governance)	Trade recalibration	Digital trade platforms
Demography	Job displacement risk	MSME and startup surge
Demand	US market volatility	“Vocal for Local” campaigns

Defence, Energy, and Digital: Modi’s Strategic Bets Pay Off

• Defence exports: India’s indigenous missile systems (BrahMos, Akash) now attract global buyers, reducing reliance on US defence imports.
• Energy diplomacy: India’s gradual pivot from Russian crude—part of the new US-India trade deal—was already underway via renewable investments.
• Digital infrastructure: India’s startup ecosystem, bolstered by Aatmanirbhar incentives, now powers global SaaS and fintech exports.

The Trade Deal Pivot: From Tariffs to Leverage

At the upcoming ASEAN Summit, India and the US are expected to announce a deal slashing tariffs to ~15–16%. India’s bargaining chip? Its energy realignment and strategic autonomy—both seeded by Aatmanirbhar Bharat.

Final Takeaway: Vision as Strategy

Modi’s 2020 initiative wasn’t just a response to COVID—it was a hedge against future geopolitical shocks. As India negotiates from a position of strength in 2025, Aatmanirbhar Bharat stands vindicated—not as isolationism, but as strategic self-reliance.