Additionally within the letter:
■ TCS This autumn earnings dip
■ Meta’s DPDP purple flags
■ Pine Labs’ reverse flip
City Firm secures shareholder nod for IPO to lift Rs 528 crore in recent capital
Abhiraj Singh Bhal, CEO, City Firm
At-home providers supplier City Firm has received shareholder approval for its upcoming preliminary public providing (IPO), via which it plans to lift as much as Rs 528 crore in main capital.
Particulars:
- Amid unstable market situations, City Firm has scaled down its IPO dimension, which was earlier pegged at round Rs 3,000 crore, sources advised us.
- The sources added that a good portion of the unique plan was anticipated to be a main elevate.
- Present traders may even promote stakes by way of an IPO’s offer-for-sale part as a part of the IPO.
- The corporate has appointed Kotak Mahindra, Goldman Sachs and Morgan Stanley as lead managers for the providing.
- It’s anticipated to file preliminary papers with the market regulator subsequent month.
Droop fears: ET has reported extensively on the turbulent market atmosphere in early 2025, which was worsened by US president Donald Trump’s harsh on-off-pause tariffs on a number of international locations, together with India.
New-age tech firms that went public prior to now yr have seen steep declines, with most shares down between 11-60% year-to-date. We also reported that some startups eyeing listings are taking a step again amid uncertainty.
Canva brings AI chops to spreadsheets
Robert Kawalsky, international head of product, Canva
Australian visible design startup Canva has unveiled a suite of new products, together with an AI-powered new spreadsheet instrument designed to compete with Google Sheets and Microsoft Excel.
Driving the information: On Thursday, Canva launched a number of AI-powered instruments, with Canva Sheets rising as a standout. In a daring transfer towards Google and Microsoft, Canva’s new spreadsheet product provides information assortment, automated evaluation, and on the spot visualisation—streamlining workflows for customers in search of clever design and information instruments.
Additionally Learn: Australian design software firm Canva sees India becoming its top market in three to five years
Acquisition powering development: Robert Kawalsky, Canva’s international head of product advised us the spreadsheet’s visible design options stem from its 2022 acquisition of London-based information visualisation platform Flourish. The tech behind Flourish now powers Canva Sheets’ capacity to create compelling visuals from advanced information.
India focus: India is at present Canva’s fourth-largest market, however the firm expects it to grow to be its largest in three to 5 years. Its core viewers within the nation contains small companies and freelancers, who depend on Canva’s instruments to simplify and improve their design wants.
Additionally Learn: Canva is leveraging its Facebook India communities to build deeper inroads
TCS This autumn web revenue falls 1.7% to Rs 12,224 crore on US uncertainties
Ok Krithivasan, CEO, Tata Consultancy Providers
IT large Tata Consultancy Providers (TCS) reported weaker-than-expected results for the January-March quarter on Thursday.
Uneven waters: TCS attributed the earnings miss to enterprise uncertainty in North America and cautious outsourcing by purchasers in key sectors equivalent to shopper, life sciences, healthcare, and communications. The corporate additionally cited the impression of a unstable international tariff atmosphere.
Present scenario:
- The revenue dip comes as India’s $280 billion IT industry grapples with international financial headwinds and heavy reliance on the US, contributing practically half of the sector income.
- Since April 2, when US president Donald Trump introduced sweeping tariffs, TCS shares have declined 8.4%, with solely a marginal restoration amid ongoing tariff-related volatility.
Financials:
- Web revenue: Down 1.7% year-on-year (YoY) in This autumn to Rs 12,224 crore; full-year revenue stood at Rs 48,553 crore.
- Income from operations: Rose 5.3% YoY in This autumn to Rs 64,479 crore, totalling Rs 2.5 lakh crore for FY25.
- Complete contract worth: $12.2 billion for the quarter; $39.4 billion for the total yr.
Headcounts: TCS added 625 employees throughout the March quarter, reversing the earlier quarter’s discount of 5,370.
For the total yr, the web headcount elevated by 6,433, bringing the full workforce to 607,979 as of March-end.
Meta flags DPDP Act clauses, seeks authorities collaboration
Rob Sherman, vp of coverage, Meta
Social media large Meta has raised concerns over India’s Digital Personal Data Protection (DPDP) Act, highlighting points associated to restrictions on profiling minors, information localisation, and parental consent, in line with a senior govt.
Quote, unquote: “There is a provision that prohibits profiling and behavioural monitoring of individuals underneath 18……. however there are different conditions the place it is necessary to have the ability to personalise experiences for folks underneath 18,” stated Rob Sherman, Meta’s vp of coverage and deputy chief privateness officer, in an interview with ET.
On AI laws:
- On synthetic intelligence (AI) laws, Sherman counseled India’s sensible method, noting that the federal government has chosen to construct on present legal guidelines and frameworks fairly than introduce a wholly new regulatory regime.
- He identified that this technique focuses on addressing gaps the place mandatory whereas drawing on present experience to manipulate the quickly evolving expertise.
Different High Tales By Our Reporters
Amrish Rau, CEO, Pine Labs
Pine Labs will get NCLT nod to reverse flip Singapore entity: Digital funds firm Pine Labs has obtained approval from the Nationwide Firm Regulation Tribunal (NCLT) to merge its Singapore entity back with its Indian entity, successfully reversing the flip of its holding firm again to India.
Social leisure startup Eloelo raises $13.5 million from Play Ventures: Dwell social leisure platform Eloelo has raised $13.5 million (Rs 114.3 crore) in a Sequence B funding spherical led by Play Ventures.
Commerce-enablement startup Xindus raises $10 million funding from 3one4 Capital, others: Xindus, a full-stack cross-border trade-enablement startup for small and medium enterprises (SMEs), has raised $10 million in a funding round led by early-stage enterprise agency 3one4 Capital, with participation from Orios Enterprise Companions.
World Picks We Are Studying
■ Apple turns to India to assist ease Trump’s China tariffs (FT)
■ Tesla provider STMicroelectronics to shed practically 3,000 jobs amid sluggish chip gross sales (WSJ)
■ How AI may also help supercharge creativity (MIT Technology Review)
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