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Phantom Digital Effects Limited has secured high-value contracts totaling ₹72 Crores for the current year, with potential growth to ₹110 Crores from additional projects in the bidding stage. These contracts are set for completion by the fourth quarter of FY25-26, enhancing the company's position in the global VFX industry.
UPI transactions reached an all-time high of 18.68 billion in May, marking a 4.4% increase from April's 17.89 billion and a 33% rise year-over-year. The total transaction value rose to INR 25.14 lakh crore, up 5% from INR 23.95 lakh crore in April, with an average daily transaction count of 602 million.
capitalCORN has successfully advised Uni Seoul on a ₹5 crore seed funding round, led by Sauce VC, a venture capital firm focused on promising consumer brands in India. Founded in 2023 by childhood friends Mohit Khurana and Gaurav Karmani, Uni Seoul is establishing itself in the Korean-inspired lifestyle market.
D2C fashion brand Snitch has successfully raised $39.6 million in its Series B funding round, led by 360 ONE Asset. The investment will enable the brand to double its offline store presence, venture into quick commerce, and pilot operations in international markets.
Razorpay's decision to redomicile to India ahead of its IPO will incur significant tax liabilities, estimated at over $400 Mn, including nearly $150 Mn to Indian authorities and $250-$300 Mn to the US government. To mitigate costs, the fintech unicorn has consolidated six subsidiaries under a single local holding company, aiming to reduce its US tax payout to around $200 Mn.
Razorpay is set to pay INR 1,245 crore in taxes following its recent domicile shift to India, merging its Delaware parent entity with its Indian subsidiary, Razorpay Software India Pvt Ltd. The tax amount is based on the company's valuation of $7.2 billion from its last funding round of $375 million. The fintech unicorn is also aiming for an initial public offering (IPO) within the next two years.
BNP Paribas Financial Markets acquired 6,24,85,371 shares of Zomato at INR 238.25 each, totaling INR 1,488 Cr, reflecting a slight discount from the previous close. Additionally, the firm sold 1.88 lakh shares of Eternal for INR 4.35 Cr and offloaded 2,48,31,803 shares of Nykaa at INR 202.81 each, amounting to INR 503.61 Cr.
Oyo plans to rename its parent company, Oravel Stays, as it prepares for an IPO and expands into the premium hotel market. Founder Ritesh Agarwal is inviting name suggestions from the public, offering a prize for the winning idea, while the company develops a new app targeting mid-market and premium hotels. This strategic shift aligns with industry trends showing significant growth in the luxury segment, particularly in India, where the hospitality sector is projected to reach USD 55 billion by 2025.
EaseMyTrip reported a profit of INR 14 Cr in Q4 FY25, a significant drop of over 59% from INR 34 Cr in Q3 FY25. The company's operating revenue also fell by 15% to INR 139.5 Cr compared to INR 164 Cr in the same quarter last year. However, for the full fiscal year FY25, profit increased by 5% to INR 108.7 Cr, up from INR 103.5 Cr in FY24.
ILIOS 72 Alternative Capital has successfully raised INR 1 crore in seed funding from a group of family offices, marking its first external funding round. The capital will be utilized for business expansion, enhancing its technology platform, and increasing access to overseas markets beyond metropolitan areas.
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phantom digital effects secures contracts worth 72 crores for revenue growth
10:37 02.06.2025
UPI transactions reach record high of 18.68 billion in May
08:49 02.06.2025
capitalCORN secures 5 crore seed funding for Uni Seoul from Sauce VC
08:46 02.06.2025
D2C fashion brand snitch secures 40 million dollars for expansion efforts
07:00 02.06.2025
Razorpay faces hefty tax bill amid redomiciling and IPO plans
04:43 02.06.2025
razorpay to pay 1245 crore in taxes after domicile shift to india
13:32 31.05.2025
bnp paribas acquires significant stake in zomato and offloads shares in nykaa
06:18 31.05.2025
Oyo rebrands ahead of IPO to expand premium hotel offerings
04:00 31.05.2025
EaseMyTrip reports profit decline in Q4 but annual growth achieved
21:11 30.05.2025
ILIOS 72 secures 1 crore seed funding to enhance alternative investment access
16:20 30.05.2025
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