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With plans to go public in the upcoming fiscal year, the board of logistics unicorn Shiprocket has approved a resolution to turn the startup from a private to a public business. According to the company's regulatory filings, the startup will now rename itself Shiprocket Limited and remove the
According to reports, Tata Sons has applied for permission from the Competition Commission of India (CCI) to purchase an additional 10% of DTH provider Tata Play from Temasek Holdings, a Singaporean sovereign wealth fund. According to multiple sources, which cite a notification sent to the CCI earlier this week, the
2.61 Cr equity shares have been distributed by listed foodtech giant Swiggy through its different employee stock option (ESOP) plans. Swiggy announced in an exchange filing on January 25 that the nominating and compensation committee had authorised the distribution of 2,61,93,411 equity shares of the firm
Indian book publishers and their foreign counterparts have accused OpenAI of utilising proprietary content to train its ChatGPT chatbot in a copyright case they filed in New Delhi, according to a group's spokesperson. According to a media outlet, the complaint was brought in December at the Delhi High
ByteDance, the parent company of TikTok, has received a revised proposal from Perplexity AI that calls for the formation of a new firm that would combine Perplexity with TikTok's US operations. The US government would be able to own up to 50% of the organisation under this new
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By providing supply chain financing, raw material procurement, and customized loan facilities, OfBusiness aims to meet the financial needs of companies in a range of industries. By giving them access to operating finance and streamlining procurement procedures, OfBusiness seeks to empower SMEs. About OfBusiness Established in 2015 by Asish Mohapatra,
For over $200 million, private equity firm Everstone has concluded an agreement to purchase the bulk of the bootstrapped SaaS company Wingify. Paras Chopra, a co-founder, will remain a shareholder and serve on the board, Wingify stated. Wingify is certain that Sparsh and the Everstone team have the know-how and
In a regulatory filing, DroneAcharya announced that it has inked a term sheet for a "strategic company merger" with agri-drone business AITMC Ventures. DroneAcharya did not, however, provide any other information regarding the deal. The two businesses will collaborate to provide their clients with industrial, enterprise, defence, and
ChatGPT from OpenAI is back up following a significant outage that lasted for roughly forty minutes. The Microsoft-backed software giant revealed that it experienced a 37-minute major outage and a nearly two-hour partial outage on 23 January. The GenAI chatbot experienced higher error rates as a result of a problematic
The parent company of the massive beauty e-commerce company Nykaa, FSN E-Commerce Ventures, has established Nysaa Cosmetics SPC as a new wholly owned subsidiary in Oman. The new company would engage in the "international and domestic" sale and trade of beauty and personal care (BPC) products, such as
Amazon Web Services (AWS) has reportedly agreed to investing INR 60,000 Cr (about $7 billion) to establish data centres in Telangana, which would significantly strengthen the state's IT economy. With plans to invest an additional INR 60,000 Cr, AWS will be significantly growing its data facilities
In order to safeguard customers against dishonest activities in the quickly growing online retail industry, the Centre has put up draft guidelines for e-commerce platforms that need self-regulation measures. Under the direction of the Ministry of Food and Consumer Affairs, the Bureau of Indian Standards (BIS) created the draft rules,