India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.
com Inc, to restructure their ties with some major sellers. The government discussions coincide with a growing number of complaints from India's brick-and-mortar retailers, which have for years accused Amazon
and Walmart Inc-controlled Flipkart of creating complex structures to bypass federal rules, allegations the U.S. companies deny. Read more
Google-backed delivery and e-commerce firm Dunzo
has attracted a fresh round of $40 million in capital from new and existing investors. Investors including Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria participated in this Series E Round. The funding would help it compete with players such as Swiggy, Zomato, Amazon
and Flipkart. This capital comes after a year of robust growth amidst the Coronavirus (Covid-19) pandemic. Read more
Ltd. is in talks with Bollywood producers to release their movies in cinema halls now rather than on streaming sites like those run by Netflix Inc. and Amazon.com Inc., now that the pandemic is easing in India. The country’s biggest cinema operator, which runs about 835 screens across 71 cities, is currently operating most theaters at half capacity due to Covid-related restrictions. However, it sees benefits in the “age-old strategy” of movies first coming to the big screen before being monetized on other platforms. Read more
Indigo Paints IPO to open on Jan 20; price band fixed at Rs 1,488-1,490
Sequoia Capital-backed Indigo Paints, on Thursday, said it has fixed a price band of Rs 1,488-1,490 a share for its initial share-sale, which will open for public subscription on January 20. The IPO comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital, through its two funds -- SCI Investments IV and SCI Investments V -- and promoter Hemant Jalan. The three-day initial public offering (IPO) will conclude on January 22. Read more
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