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Tag: Inc42 Media

  • Jio Financial Services Invests in Allianz Jio Reinsurance to Enhance Insurance Ecosystem

    This article was generated by AI and cites original sources.

    Jio Financial Services (JFS) has injected ₹147.5 crore into the joint venture Allianz Jio Reinsurance Limited (AJRL), strengthening their collaborative efforts in the insurance sector. This investment aims to leverage technology to enhance the efficiency and resilience of the insurance ecosystem.

    The capital infusion, totaling 14.75 crore equity shares at ₹10 each, will bolster the operational capabilities of the joint venture, emphasizing the role of tech-driven solutions in managing risks more effectively.

    Incorporated as a 50:50 partnership between JFS and German insurance giant Allianz, AJRL aims to provide insurers with access to robust underwriting capabilities and competitive capacity. This strategic alliance underscores the importance of technological advancements in transforming the insurance landscape.

    By combining the expertise of JFS in financial services with Allianz’s global experience, the reinsurance joint venture is poised to introduce cutting-edge solutions that streamline insurance processes and enhance overall industry resilience. The investment by JFS reflects a strategic focus on diversification and expansion across various fintech verticals.

    Source: Inc42 Media

  • SEDEMAC IPO Sees Modest Investor Interest Amid Market Volatility

    This article was generated by AI and cites original sources.

    SEDEMAC, a deeptech company, witnessed a 31% subscription rate for its initial public offering (IPO) on the second day of bidding. The IPO attracted 17.42 Lakh bids out of the 56.33 Lakh shares available, indicating tepid investor interest amid a turbulent market.

    Qualified institutional buyers (QIBs) bid for 87% of their allotment, amounting to around 14 Lakh shares, with demand solely driven by mutual funds. Retail investors bid for 6% of their quota, while non-institutional investors (NIIs) bid for 13% of their quota. Notably, investors bidding over ₹10 Lakh led interest in the NII category.

    SEDEMAC’s employees oversubscribed their quota by 1.27X, showing internal support for the IPO. The company has set a price band of ₹1,287 to ₹1,352 for its public offering, with anticipation for listing on the BSE.

    Source: Inc42 Media

  • RentoMojo Prepares for Potential IPO with Transition to Public Limited Company

    This article was generated by AI and cites original sources.

    Furniture and appliance rental startup RentoMojo has made a significant move by converting from a private limited company to a public limited company, signaling its readiness for a potential initial public offering (IPO) in the near future. This transition, as reported by Inc42 Media, follows the company’s previous name change from Edunetwork Private Limited to Rentomojo Private Limited in September 2025.

    According to the company’s filings, the decision to alter its entity name to “Rentomojo Limited” was approved by the board on January 13, reflecting a strategic shift in its corporate identity. This adjustment aims to align the company’s branding with its consumer-facing image, a crucial step as it prepares for the next phase of growth and potential public listing.

    RentoMojo’s transition comes amidst positive financial indicators, with a notable 82% surge in net profit to ₹40 Cr in FY25 and a 38% rise in operating revenue to ₹266 Cr. The company’s IPO plans have attracted the expertise of IIFL Capital and Motilal Oswal Investment Banking as lead bankers, highlighting the market’s anticipation for its public offering.

    Having secured over ₹650 Cr in funding from prominent investors like Accel, Chiratae Ventures, Bain Capital, and Edelweiss, RentoMojo faces competition from players such as Furlenco, Rentickle, and Cityfurnish in India’s direct-to-consumer furniture rental sector.

    Source: Inc42 Media

  • MakeMyTrip Expands Holiday Packages with Flamingo Transworld Acquisition

    This article was generated by AI and cites original sources.

    Online travel company MakeMyTrip has announced plans to acquire a majority stake in regional tour operator Flamingo Transworld. This strategic move aims to enhance MakeMyTrip’s holiday packages business.

    Flamingo Transworld, known for its domestic and international group tour packages, has established a strong presence in western and central India, particularly across Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh. By integrating Flamingo Transworld’s specialized tour packages into its existing business model, MakeMyTrip seeks to enrich its holiday packages segment and provide customers with enhanced travel experiences.

    This acquisition follows MakeMyTrip’s series of acquisitions, including QuestToTravel, Simplotel, BookMyForex, Savaari, and Happay, as the company continues to diversify its services and strengthen its position in the travel ecosystem.

    Source: Inc42 Media

  • UPI Transactions Decline in February: Insights into Digital Payments Trends

    This article was generated by AI and cites original sources.

    In February, the Unified Payments Interface (UPI) transactions witnessed a 6% decline from the previous month, totaling 20.39 billion transactions valued at ₹26.84 lakh crore, a 5% decrease from January. This dip is attributed to February having fewer days.

    Despite the decline in volume, the daily average transactions increased to 728 million, with an average daily transaction amount of ₹95,865 crore. PhonePe maintained its lead in UPI volume, while GooglePay secured the second position, indicating a competitive landscape shift with smaller players gaining momentum.

    One significant development shaping the digital payments landscape is UPI’s global expansion. The international collaboration between NPCI and Payments Network Malaysia to enable interoperable QR-based transactions reflects UPI’s growing influence beyond India’s borders.

    As the NPCI prepares to release app-wise data for February, the tech community anticipates insights into market trends and player performance, which may lead to further innovations and strategies in the evolving digital payments space.

    Source: Inc42 Media

  • Amazon India Expands Zero Referral Fee Program, Boosting Seller Savings

    This article was generated by AI and cites original sources.

    Amazon India has announced the expansion of its zero referral fee program to cover products priced under ₹1,000, across more than 1,800 categories. This move, effective March 16, aims to attract more merchants to the online marketplace and enhance Amazon’s position in India’s competitive e-commerce industry. In addition to eliminating referral fees on low-priced items, the company will reduce Easy Ship fees by over 20% for products below ₹300, potentially helping sellers save up to 70% on total selling fees.

    By waiving referral fees for a broader range of products, Amazon India seeks to simplify and incentivize selling on its platform, especially benefiting small businesses and entrepreneurs in tier II and III cities. This strategic decision comes amid escalating competition in India’s e-commerce sector, prompting platforms to introduce compelling incentives to entice sellers and bolster their market presence.

    Source: Inc42 Media

  • Jio Platforms Expands Global Reach with Appointment of Dan Bailey as President

    This article was generated by AI and cites original sources.

    Jio Platforms, a leading technology company in India, has appointed former Deutsche Bank chairman Dan Bailey as president to spearhead its international business initiatives. Bailey, with over 35 years of experience in consulting and investment banking, will join Jio’s executive committee and report directly to chairman Akash Ambani.

    This strategic move aligns with Jio’s global ambitions, as highlighted by Mukesh Ambani at the RIL AGM. The company aims to deploy its innovative technologies globally to address international challenges and create value for partners and shareholders.

    During the AGM, Jio also unveiled new products and platforms designed for global scalability. One notable introduction is the Digital Twin system, enabling rapid planning and activation of high-speed broadband services. Additionally, the upgraded Jio AI Cloud, now offering enhanced storage capabilities, reflects Jio’s commitment to advancing cloud services.

    Source: Inc42 Media

  • Oxyzo Expands into Fund Management with New Credit Fund

    This article was generated by AI and cites original sources.

    Oxyzo Financial Services, the lending arm of B2B ecommerce unicorn OfBusiness, has launched its debut credit fund, the Oxyzo Credit Fund I (OCF-I). This fund is designed to support mid-sized, investment-grade companies seeking growth capital.

    The OCF-I will primarily target secured debt investments, focusing on performing credit opportunities to deliver consistent, risk-adjusted returns while safeguarding invested capital. Managed by Oxyzo Investment Manager Private Limited, a subsidiary of Oxyzo, the fund has already initiated its investment activities after completing its initial funding round.

    Notable investors in the fund include high-net-worth individuals, family offices, and institutional investors. Oxyzo Investment Manager aims to expand its fund management operations to approximately ₹3,000 Cr over the next few years across various investment strategies.

    Established in 2016, Oxyzo initially operated as a lending entity within OfBusiness, providing financial assistance to SMEs for procurement, supply chain, and working capital needs. In its recent financial report, Oxyzo disclosed a 16.7% year-over-year increase in net profit and a 33.7% growth in operating revenue for FY25.

    Oxyzo has secured significant funding from investors like Alpha Wave Global, Tiger Global, Z47, Hinduja Leyland Finance, and AK Capital. Meanwhile, its parent company, OfBusiness, is preparing for an IPO following its transition to a publicly traded entity.

    Source: Inc42 Media

  • Fintech Startup Moneyview Files for IPO, Aims to Expand Digital Lending

    This article was generated by AI and cites original sources.

    Fintech startup Moneyview has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). This move signals the company’s intent to enter the public market and raise funds to fuel its expansion plans in the digital lending space.

    The IPO includes a fresh issue of shares valued at ₹1,500 Cr and an offer for sale (OFS) of up to 13.61 Cr equity shares by existing shareholders. The net proceeds from the fresh issue will primarily be utilized to support the growth of Moneyview’s lending business.

    Established in 2014, Moneyview operates a digital-first lending model specializing in unsecured personal loans for underserved and new-to-credit customers. By leveraging in-house credit scoring models and alternative data, the company assesses borrowers and generates revenue through interest income on loans disbursed and fees from partner-led loans.

    Moneyview’s strategic allocation of funds from the IPO, including investments in loan disbursals and capital augmentation for its NBFC subsidiary, underscores its commitment to expanding its financial offerings and enhancing user engagement. Moreover, the company’s evolution into adjacent financial products like credit cards, Buy Now Pay Later (BNPL) services, and personal finance management tools showcases its dedication to diversifying its portfolio and enhancing customer experience.

    Source: Inc42 Media

  • Fino Payments Bank Navigates CEO Arrest, Remains Focused on SFB Transition

    This article was generated by AI and cites original sources.

    Fino Payments Bank, amid the challenges following the arrest of its Managing Director and CEO Rishi Gupta for alleged GST evasion, has reaffirmed its commitment to transitioning into a small finance bank (SFB) without disruption. The bank, which received in-principle approval from the Reserve Bank of India (RBI) in December 2025 for this transition, remains on track within the regulatory timeline.

    During discussions with investors, the management assured that the ongoing situation has no bearing on the SFB conversion process. Ketan Merchant, the bank’s Chief Financial Officer and now serving as the interim head, emphasized proactive engagement with regulators and stakeholders to ensure a smooth transition.

    Despite the recent allegations involving Gupta in an investigation related to GST evasion, Fino Payments Bank clarified that the case pertains to program managers and not the bank itself. The bank underscored its compliance with GST obligations on revenues earned.

    With a focus on a differentiated business model and a customer-centric approach, Fino Payments Bank aims to complete the SFB conversion ahead of the stipulated 18-month timeline, as mandated by the RBI.

    Source: Inc42 Media