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Tag: Inc42 Media

  • Bacancy Systems Secures ₹40 Cr in Series A Funding for Tech Expansion

    This article was generated by AI and cites original sources.

    Electronics manufacturer Bacancy Systems has secured ₹40 Cr ($4.2 Mn) in its Series A funding round, with Sabre Partners and Greenstone Capital leading the investment. The company, founded by Binal Patel, Krunal Patel, and Hardik Sheth, focuses on developing embedded system services, particularly in e-mobility, healthcare, and railway electronics.

    The funding will be used to expand Bacancy Systems’ manufacturing infrastructure, improve product capabilities, and advance their research and development efforts. The company aims to enhance operational efficiency and reliability in the Indian railway electronics sector through innovative train control and management system solutions, traction converters, embedded modules, and remote monitoring platforms.

    CEO Patel emphasized the importance of local manufacturing and R&D in electric mobility and railways, highlighting the significance of supporting India’s industrial growth. With extensive industry experience, Bacancy Systems is positioning itself to play a key role in shaping India’s technological landscape.

    Source: Inc42 Media

  • Bajaj Finserv Invests in India’s AI Ecosystem with ₹400-₹450 Cr Fund

    This article was generated by AI and cites original sources.

    Bajaj Finserv, a prominent financial services company, is making a significant investment in India’s AI sector. The company plans to invest between ₹400-₹450 Cr in AI startups during the fiscal year 2027 through the launch of a dedicated private equity fund.

    Bajaj Finserv’s Chairman and MD, Sanjiv Bajaj, revealed that the company will make direct investments in early-stage AI startups using its own balance sheet, in addition to the dedicated fund. This dual approach underscores Bajaj Finserv’s commitment to expanding its presence in the AI domain.

    By venturing into AI investments, Bajaj Finserv aims to leverage India’s growing technology and innovation landscape. The AI fund will be overseen by Bajaj Finserv’s alternative investment arm, Bajaj Alternative Investment Management Ltd (Bajaj Alts), led by Lakshmi Iyer.

    This move signifies Bajaj Finserv’s strategic diversification into alternative investments, complementing its core financial services offerings. With an emphasis on institutional presence in the alternative investments space, the company’s foray into AI investments is poised to contribute to India’s tech ecosystem.

    Source: Inc42 Media

  • Fino Payments Bank Faces Turmoil Amid CEO’s Arrest and Alleged GST Evasion

    This article was generated by AI and cites original sources.

    Fino Payments Bank, once riding high on regulatory approval, now finds itself in a whirlwind of crisis following the arrest of CEO Rishi Gupta and allegations of GST evasion. The bank’s stock plummeted amid concerns over governance and leadership, highlighting a rapid decline in its fortunes.

    At the beginning of the year, Fino Payments Bank received a boost when the Reserve Bank of India approved Rishi Gupta’s reappointment as MD and CEO, causing a surge in stock prices. However, this positive momentum quickly reversed when Gupta was arrested on charges of GST evasion, accused of involvement in a scheme to funnel funds from illegal online gaming platforms through shell entities associated with Fino.

    The investigation pointed to three program managers who allegedly facilitated the illicit fund routing through shell merchants, circumventing GST payments. Fino Payments Bank has distanced itself from the allegations, asserting that it had already blocked real-money gaming merchants in 2025 and that the implicated entities represented a small fraction of their operations.

    Despite the turmoil, Fino Payments Bank remains adamant that its operations comply with regulations and that the CEO’s legal issues are not reflective of the bank’s practices. The incident underscores the challenges of maintaining trust and integrity in the financial sector, with implications for the bank’s reputation and future strategies.

    Source: Inc42 Media

  • Zetwerk Prepares for IPO with $450 Million DRHP Filing

    This article was generated by AI and cites original sources.

    Zetwerk, a B2B manufacturing platform, has filed a Draft Red Herring Prospectus (DRHP) for a $450 million initial public offering (IPO) through the confidential route. The company is also seeking to secure $50-60 million in a pre-IPO funding round, as reported by Moneycontrol.

    For its public listing, Zetwerk has enlisted the support of financial institutions such as Mahindra Capital, JM Financial, Avendus Capital, and the Indian branches of HSBC, Morgan Stanley, and Goldman Sachs.

    Founded in 2018, Zetwerk operates as a comprehensive manufacturing platform, specializing in industrial components, electronics, renewable energy equipment, and consumer hardware. The company’s services include procurement, quality assurance, logistics, and delivery for its clients.

    This move towards an IPO marks a significant milestone for Zetwerk, showcasing its growth and ambition within the manufacturing industry. The decision to go public signifies a new chapter in the company’s evolution, potentially unlocking opportunities for expansion and further technological innovation.

    Source: Inc42 Media

  • Indian Tech Startups Embrace Public Listings in 2026

    This article was generated by AI and cites original sources.

    In 2026, Indian startups are embracing public listings with a focus on strong fundamentals, profitability, and low cash burn to attract public market investors. Following a record-breaking year in 2025, where 21 Indian startups collectively raised ₹41,248 Cr from public markets, the momentum for new-age tech companies going public remains strong.

    Twenty-one startups have filed their Draft Red Herring Prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI), while over 23 are finalizing IPO plans. The surge in IPOs is supported by macroeconomic growth and SEBI reforms, including simplified DRHP filings and flexible employee stock option (ESOP) rules.

    Startup founders are committing to long-term growth strategies, aiming to add adjacent profit pools to their businesses. Public markets are rewarding companies prioritizing profits, sustainable growth, and governance.

    Despite a mixed performance in early 2026 listings, the IPO momentum continues with more startups gearing up to go public.

    Source: Inc42 Media

  • RBI Unveils Payments Vision 2028: Enhancing Cross-Border Transactions

    This article was generated by AI and cites original sources.

    India’s digital payments landscape is set to witness significant advancements with the Reserve Bank of India (RBI) unveiling its ‘Payments Vision 2028’. This strategic plan aims to enhance the global reach of India’s payment ecosystem by leveraging innovative technologies and regulatory frameworks.

    The RBI’s vision emphasizes inclusivity, resilience, and security within the digital payments sphere over the next three years. Key initiatives outlined in the document include a heightened focus on cross-border payment solutions, exploration of electronic cheques, and strengthening of digital payments security frameworks.

    One notable proposal is the establishment of a framework for interoperability in the Trade Receivables Discounting System (TReDS), showcasing the RBI’s commitment to enhancing existing systems and infrastructure.

    Moreover, the central bank plans to revamp the cross-border payments framework to improve efficiency and introduce a cyber key risk indicators (KRI) framework to bolster security in the digital payments landscape.

    Specifically addressing cross-border payments, the RBI aims to streamline the regulatory process for cross-border payment authorization and provide regulatory flexibility for small payment system providers, ultimately facilitating a conducive environment for business operations.

    With these strategic initiatives, the RBI is poised to drive transformative changes in India’s payment ecosystem, fostering innovation, security, and efficiency in cross-border transactions.

    Source: Inc42 Media

  • Fino Payments Bank Faces Steep Decline Amid Bearish Week for New-Age Tech Stocks

    This article was generated by AI and cites original sources.

    In a week marked by bearish sentiment in the Indian equities market, new-age tech stocks faced significant declines, with Fino Payments Bank emerging as a major loser. The market capitalization of 55 tech companies dropped from $119.46 billion to $116.31 billion, reflecting the overall negative trend.

    Among the 55 tech stocks tracked, 41 experienced losses ranging from 0.2% to nearly 16%, while 14 saw gains between 0.34% and over 5%. Fino Payments Bank, particularly affected by the recent arrest of its CEO, Rishi Gupta, plummeted by 15.81% to ₹127.

    Other notable decliners included BlueStone, EaseMyTrip, Yatra, ideaforge, Paytm, Lenskart, Fractal, and Shadowfax. Conversely, Macobs Technologies, the parent company of Menhood, witnessed a 5.19% increase, positioning it as the top gainer for the week.

    Despite the market turmoil, Ather Energy’s stock reached a new 52-week high before closing 1.69% higher. Notably, 11 tech stocks hit fresh lows, including Nazara, Swiggy, Amagi, MapmyIndia, and Fino Payments Bank.

    This volatile week underscores the challenges facing new-age tech companies and the impact of external factors on their performance.

    Source: Inc42 Media

  • India Extends Electric Vehicle Subsidies to Boost Adoption

    This article was generated by AI and cites original sources.

    The Ministry of Heavy Industries (MHI) in India has made significant revisions to the PM E-DRIVE initiative, extending subsidy timelines and increasing targets for electric vehicles, specifically electric two- and three-wheelers. Under the new guidelines, subsidies will now be tied to battery capacity, with electric two-wheelers (E2Ws) eligible for up to ₹5,000 per kWh, capped at ₹10,000 per vehicle. E2Ws registered by July 31, 2026, will be eligible for incentives, while electric three-wheelers (E3Ws) will continue to receive subsidies until March 31, 2028, as per an official notification. The government has also introduced price limits for vehicles to qualify for the scheme, excluding E2Ws above ₹1.5 Lakh and E3Ws above ₹2.5 Lakh.

    The adjustments aim to boost the adoption of electric vehicles and promote sustainable transportation. Additionally, subsidies for e-rickshaws and e-carts have been modified to ₹5,000 per kWh, capped at ₹25,000 initially, with a reduction to ₹2,500 per kWh, capped at ₹12,500 in the later phase. The government’s decision to decrease the allocation for e-rickshaws and e-carts to ₹50 Cr indicates a slower uptake in this segment. Notably, the L5 category of electric three-wheelers has already met its target and was closed on December 26, 2025, indicating progress in the adoption of electric vehicles.

    Source: Inc42 Media

  • Rentomojo Faces IPO Hurdle as Former COO Files NCLT Petition

    This article was generated by AI and cites original sources.

    Rentomojo, a rental startup, faces a challenge as its former COO, Ajay Nain, files a petition before the NCLT to halt the company’s planned IPO. Nain, alleging oppression and mismanagement, seeks to block the IPO, citing incomplete information during a past share sale transaction. He aims to restore his shareholding and remove certain board members.

    The petition also requests a halt on filing the draft red herring prospectus with SEBI. Rentomojo’s precautionary measures to prevent interim orders demonstrate the seriousness of the situation. The startup’s RM Employee Benefit Trust, holding a stake in the company, is central to the dispute.

    Nain’s actions highlight the complexities in startup governance and the potential impact of internal conflicts on crucial financial milestones like IPOs. This case sheds light on the importance of transparency and governance structures within tech companies, especially during significant corporate events.

    Source: Inc42 Media

  • S45’s AI-Powered Transformation of Investment Banking and IPO Processes in India

    This article was generated by AI and cites original sources.

    S45, an emerging player in India’s investment banking landscape, is leveraging AI technology to streamline IPO journeys and automate manual tasks, as reported by Inc42 Media. The startup’s AI-driven approach aims to enhance the traditional investment banking model, making capital markets more accessible and efficient.

    By automating labor-intensive processes like data organization and document preparation, S45 enables human professionals to focus on higher-level decision-making tasks. In just eight months of operation, S45 has successfully facilitated the IPOs of 26 companies on the SME board, raising over ₹1,120 Cr in capital.

    India has witnessed a significant increase in IPO activities, with record amounts raised through mainboard IPOs and SME IPOs. S45’s innovative use of AI technology not only accelerates companies’ IPO journeys but also addresses structural gaps in the existing capital market system. With a vision to democratize access to growth capital, S45 has attracted funding of $5 Mn from RTP Global to further develop its AI-native investment banking platform.

    As the number of listed companies in India continues to grow, S45’s approach to blending AI and finance is poised to reshape how investment banking services are delivered and IPO processes are managed, offering greater efficiency and accessibility for companies seeking to go public.

    Source: Inc42 Media