Additionally within the letter:
■ Allen’s revenue takes successful
■ TCS drags IT headcount
■ MeitY eyes tariff cuts
Programming be aware: ETtech Morning Dispatch might be off for the following few days. We might be again on October 23. Wishing all our readers a cheerful and affluent Diwali!
Meesho IPO: Ecommerce platform recordsdata up to date papers for $800 million IPO; eyes December 2025 itemizing
(L-R) Vidit Aatrey and Sanjeev Barnwal
Ecommerce platform Meesho has filed its updated draft red herring prospectus (UDRHP) with the Securities and Trade Board of India (Sebi), inching nearer to a December 2025 public market debut. If permitted, it is going to be India’s first pure-play horizontal ecommerce platform to listing.
The corporate initially filed its DRHP in July by the confidential route.
IPO particulars:
- Whole challenge measurement: Rs 5,800–6,600 crore ($700-800 million)
- Contemporary challenge: Rs 4,250 crore ($500 million)
- Provide on the market (OFS): 175.7 million shares
- Key sellers: Elevation Capital, Peak XV Companions, and Enterprise Freeway.
Use of proceeds: The IPO funds might be used for know-how infrastructure, brand-building, potential acquisitions, and basic company functions.
Inform me extra: Meesho joins a wave of new-age firms aiming for listings by year-end, together with Groww and Lenskart. The corporate is focusing on an inventory within the final weeks of December, sources informed us.
Zoom out: Based in 2015, Meesho began as a social commerce platform earlier than pivoting to a pure ecommerce mannequin, establishing a robust presence in non-metro markets. In 2024, it launched its in-house logistics arm, Valmo, which handles over 60% of its orders (as of Q1 FY26).
By the numbers:
- Income: Rs 9,389.9 crore in FY25, up 23% year-on-year.
- Web loss: Rs 3,941.7 crore vs Rs 327.6 crore final yr (The sharp leap stems from a one-time tax expense on account of redomiciling in India)
Qure.ai reimagining healthcare by way of sooner, cheaper diagnostics
Prashant Warier, founder, Qure.ai
Healthtech startup Qure.ai plans to deploy its AI-driven imaging instruments in 10,000 hospitals across India and past over the following 4 to 5 years, founder Prashant Warier informed ET.
Driving the information: Warier mentioned the corporate develops diagnostic options that help docs in detecting tuberculosis, lung most cancers, and strokes extra quickly from X-rays and CT scans. Its know-how is designed for resource-constrained settings the place radiology experience is scarce.
Firm snapshot:
- Based in 2016.
- Traders: Lightspeed, Merck World Well being Innovation Fund, and Kae Capital.
The agency was just lately named Top Innovator at the ET Startup Awards 2025.
By the numbers:
- FY24 income: Rs 141 crore.
- Web loss: Rs 47 crore.
- Whole funding: round $120 million.
- 2024 valuation: $500 million.
Check-prep platform Allen’s FY25 internet revenue plunges to Rs 41 crore
Nitin Kukreja, CEO, Allen Profession Institute
Check preparation platform Allen Profession Institute noticed its FY25 net profit decline nearly 70% to Rs 41 crore, down from round Rs 136 crore the earlier yr. Working income decreased to Rs 3,067 crore, in comparison with Rs 3,245 crore in FY24. Whole income stood at Rs 3,307 crore.
Funding over development: The corporate has closely invested in increasing past its Kota base. Chief government Nitin Kukreja informed us that Allen has invested closely in new centres, digital infrastructure, and school hiring— all impacting profitability.
Past Kota: As soon as synonymous with Kota’s teaching tradition, Allen now derives three-quarters of its income from outdoors the Rajasthan metropolis. Whereas strategically various, this has additionally launched new prices and operational complexities.
How they stack up: Allen stays a uncommon worthwhile participant in India’s check prep sector.
- PhysicsWallah (IPO-bound): Rs 2,886 crore in revenue, Rs 243 crore loss.
- Unacademy: Income declined 16% to Rs 826 crore in FY25.
- Aakash: But to file outcomes put up FY23.
Different Prime Tales By Our Reporters
Tech majors maintain rely up regardless of one outlier: India’s prime six Indian IT firms added a net total of 952 employees in Q2FY26, a 77% lower from the earlier quarter, primarily on account of Tata Consultancy Companies’ vital quarterly discount. Other than TCS, the opposite 5 added over 20,000 workers.
MeitY getting ready listing of imported digital inputs for responsibility cuts: The Ministry of Electronics and Info Know-how (MeitY) is compiling a listing of key imported digital components utilized in shopper items, home equipment, and high-end manufacturing, which it believes ought to qualify for lower tariffs, a number of sources informed us.
Due to GenAI, cybercriminals are making scams personalised: As India reaches its peak procuring season, cybercriminals are utilizing artificial intelligence to attack systems and rip-off shoppers. Almost one in three Indians has fallen sufferer to festive scams, with 37% dropping cash, in response to a report by cybersecurity agency McAfee.
World Picks We Are Studying
■ Individuals are utilizing AI to speak to God (BBC)
■ EVs are depreciating a lot sooner than gas-powered vehicles (Rest of the World)
■ Gemini in Google House retains mistaking my canine for a cat (Wired)
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