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< Back 5,000 Swiggy employees make ₹9,000 crore after IPO success 16 Nov 2024 70 former and current employees stand to earn over $1 million (₹8.5 crore each) in Employee Stock Option Plans (ESOPs). Food delivery major Swiggy’s ₹11,327 crore IPO last week is among the largest for a startup in recent years. Its shares debuted at ₹420 on the National Stock Exchange (NSE), a 7.7% premium over the issue price of ₹390. They opened at ₹412 on the Bombay Stock Exchange (BSE), a gain of 5.64% from the issue price. Of the 5,000 Swiggy employees set to earn ₹9,000 crore in ESOP payouts, 500 will earn over ₹1 crore each, and 70 of these 500 will take home over ₹8.5 crore each. Moneycontrol reported that Swiggy co-founders and the top executive team received $200 million in ESOP payouts before the IPO. Several of them saw their ownership stake in the company rise before the listing. Zomato had listed on the exchanges in 2021 and generated ESOP payouts worth ₹7,000 crore. Flipkart paid ₹5,800 crore to 17,000 existing and former employees in July 2023. Previous Next

< Back Genesis to invest $4 mn in SpiceJet towards dispute settlement 20 Dec 2024 This deal will be a part of the $16 million dispute. To settle a $16 million dispute, the commercial airline leasing company Genesis will acquire a $4 million stake in SpiceJet at ₹100 per share. SpiceJet will pay Genesis $6 million in cash. The total settlement amount of $10 million covers cash and equity components. Subject to meeting the settlement terms, both parties will withdraw the ongoing litigations related to this matter at the appropriate forums. SpiceJet has settled its aviation disputes in the past two months with Aircastle of Ireland, Wilmington Trust SP Services, and Shannon Engine Support. For the past two years, Genesis and SpiceJet have been locked in a legal battle over lease payment and financial obligation issues. SpiceJet had leased five aircraft from Genesis Aircraft Services before the payment issues began. SpiceJet intends to reduce its financial liabilities. Its stock witnessed a 9% growth last month and traded 7% higher on December 19th after the announcement. Previous Next

< Back Tata Capital and Tata Motors Finance set to merge within a year 7 Jun 2024 The Board of Tata Motors Limited (TML), Tata Capital Limited (TCL), and Tata Motors Finance Limited (TMFL) approved the merger. However, they still need the nod from SEBI, RBI, NCLT, and the shareholders and creditors of TMFL and TCL. The Board approved the merger of TCL and TMFL under the National Company Law Tribunal (NCLT) arrangement scheme, which allows a company to restructure its business, assets, and liabilities. The process will take 9-12 months to complete. TCL is among India’s biggest Non-Banking Financial Corporations (NBFCs), while TMFL offers financial services to dealers and vendors of new and old private vehicles (PVs) and commercial vehicles (CVs). The merger will help TCL establish itself in the CV and PV segment, offer growth opportunities to its employees, and improve products for customers. Tata Motors will be able to focus on its core business and emerging technologies. In FY2024, TCL reported a profit after tax of ₹3,150 crore, while TMFL recorded ₹52 crore. As per the merger, TCL will issue equity shares to TMFL. Tata Motors will secure 4.7% in the merged entity. In March, Tata Motors split its CV and PV businesses. Previous Next

< Back Warren Buffett to step down as CEO of Berkshire this year 11 Nov 2025 The 95-year-old has been the top brass of the investment major for 63 years. On November 10 th , Buffett announced his decision to step down as the CEO of Berkshire Hathaway by the end of 2025 and stop writing annual reports at the meetings. Called the ‘Oracle of Omaha’. Here are some lesser-known facts about Buffett. He read every finance book in his local library by the age of 10. By 14, he filed his first tax return, acknowledging his bicycle as a business expense. By 16, he earned an equivalent of $53,000 selling stamps, golf balls, and delivering newspapers, and the stocks he bought as an 11-year-old. He was rejected by Harvard, which led him to study at Columbia under Benjamin Graham. 94% of his wealth was earned after the age of 60. His diet includes Coca-Cola, chips, and ice cream. He says, “I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old.” Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes novel. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back Structural changes galore at Air India as a part of Vihaan.AI 31 Jul 2024 Vistara could be merged with Air India and AirAsia India with Air India Express by the end of 2024. Air India Group plans to combine its cargo operations and form a separate entity with dedicated freighters to serve the growing demand. SpiceJet executed a similar strategy by demerging its cargo operations from the passenger side, and IndiGo is planning a similar move. Air India witnessed a 30% spike in air cargo revenue in the past two years. Its cargo tonnage is expected to cross 2.5 million tonnes by 2027. To facilitate this growth, Air India is partnering with more freight forwarders, sales agents, and last-mile delivery agents. It is also developing a new portal for optimising the cargo network. Since last year, it developed a worldwide Key Account Management program to onboard and manage customers. It is investing $200 million in an IT upgrade and switched to Salesforce CRM for customer management. Air India announced a five-year transformative plan, Vihaan.AI , in September 2022 and completed its first phase. Previous Next

< Back BigBasket to shift its business to quick commerce 28 Aug 2024 Its quick commerce arm, BBNow, contributes over 50% to the overall revenue. Starting in the next few weeks, the grocery app will offer only 10-30-minute deliveries. Tata Digital-owned BigBasket plans to switch to quick commerce in the next few weeks. The company is targeting ₹12,400 crore in overall sales for the current financial year, 60% of which will come from quick commerce. Tata Digital is targeting an IPO once BigBasket becomes profitable, which depends on BBNow. Its quick commerce vertical was launched in December 2021. Between the financial years 2022 and 2023, the grocery app witnessed an 11% rise in revenue as its losses skyrocketed by 71%. Zomato-owned Blinkit leads the quick commerce market with around 45% share. BigBasket holds around 10-15% market share, behind Instamart and Zepto. BigBasket plans to have around 600 dark stores across India, fuelled by 60 large warehouses. The dark stores will carry popular grocery and non-grocery products, while warehouses will store appliances and other expensive items. Flipkart recently introduced ‘Minutes’, which mainly offers electronics in Bengaluru, New Delhi, and Mumbai. Previous Next

< Back GST relief announced for foreign airlines, training, cancer drugs, helicopter rides 10 Sept 2024 Goods and Services Tax (GST) Council is forming two groups of ministers: one to plan the GST framework on life and health insurance premiums, and the other to evaluate compensation cess. The GST Council announced exemptions for services imported by foreign airlines from their establishments outside India, including flight training courses. Before this announcement, the foreign airlines faced a tax invoice of ₹39,000 crore. The Council also sliced GST rates on some cancer medicines and savoury snacks like namkeens. Helicopter rides, except for charters, will also enjoy lower GST rates. Educational Institutes established under the state and central government, including the IITs and those exempted from income tax, will no longer be liable to pay GST on R&D grants. This move will regularise the show-cause notices that the Directorate General of GST Intelligence (DGGI) issued to seven educational institutions. The two Group of Ministers (GoM) have to submit a report on the GST on life and health insurance premiums by October end. Bihar Deputy Chief Minister Samrat Choudhary will lead the GoM and the panel on GST rate rationalisation. Previous Next

< Back After resisting for long, Ola adopts fixed daily fee for drivers 25 Mar 2025 The cab hailing market leaders are making serious changes as competition stiffens in the segment. Fintech startup Juspay’s ride-hailing app, Namma Yatri, launched three-wheeler rides in November 2022 and cab-hailing services in April 2024. It introduced a fixed daily fee (called take rate) for auto drivers instead of the commission per ride like Uber and Ola. In January 2024, Rapido launched cab services with the same concept. To retain its position, Ola embraced this subscription model for three-wheeler rides in December 2024, followed by Uber in February 2025. Ola switched its cab-hailing services to this fixed daily fee model this month and introduced bike taxis on the same model. Earlier, Ola charged 20% commission, which after tax came to 15%. After running a ₹100 daily fee pilot in October in Hyderabad, it now charges ₹149 for one day and ₹399 for three, a take rate of 10%. Rapido offers drivers ₹5,000 worth of rides for a ₹50 subscription, a take rate of 5%. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Info-x Software buys penthouse in Gurugram worth ₹190 Crore 9 Dec 2024 The 16,290 square feet penthouse is in Gurugram’s ultra-luxury property, DLF Camellias. In one of the most expensive residential apartment purchases in India, and the costliest high-rise condominium deals in Delhi-NCR, Info-x Software Technology, through its director Rishi Parti, bought a penthouse in DLF Camellias for ₹190 crore. The company registered the agreement on December 2nd and paid ₹13 crore stamp duty. The penthouse was sold for ₹1.2 lakh per square foot on super built-up and ₹1.8 lakh per square foot on carpet area. It is situated on Gurugram’s posh Golf Course Road, considered North India’s Billionaires’ Row. Rishi Parti, 47, founded Info-x Software Tech in 2001. The company specialises in logistics solutions and employs more than 150 people across 15 countries. Around 15% of the residential owners in The Cameliias upgraded from the other DLF properties in Gurugram - The Aralias and The Magnolias. Most owners in The Camellias are from Delhi-NCR, including the founder of BoAt, Aman Gupta. Previous Next

< Back Reliance Consumer Products records ₹3,000 crore sales in FY2024 18 Apr 2024 Reliance Consumer Products Limited (RCPL) is a branch of Reliance Retail. It began operations on November 30, 2022. Reliance Retail Venture’s Consumer Products arm, RCPL, recorded sales worth ₹3,000 crore in its first full year of operations, 2023. Among RCPL's brands, Emami clocked ₹3,400 crore in sales, Campa Cola contributed ₹400 crore, and the market leader in oral care, Colgate-Palmolive, recorded ₹5,226 crore. Reliance acquired Campa Cola in 2022 for ₹22 crore. It is widely available in Andhra Pradesh, India’s largest cola market. It currently relies on contract manufacturers for bottling but intends to set up its own plants by raising around ₹500-700 crore from Reliance Retail. Reliance Retail infused ₹277 crore in RCPL in February and March 2023 through a subscription of fully convertible debentures. They intend to bridge the supply gap by strategically establishing bottling plants across the country that are closer to main consumer hubs and Kirana stores. The company earned ₹1,000 crore in revenue from over 200,000 Kirana stores. Previous Next

< Back Akasa Air begins allowing pets up to 10 kg in the cabin 9 May 2024 In November 2022, the airline first announced permitting passengers to carry their pets, like cats and dogs, in cabin or cargo as per their weight. Akasa Air announced on Wednesday its plans to permit passengers to carry their pets weighing up to 10 kg, including the weight of the container, in the cabin. The limit was 7 kg earlier. They also allow pets weighing up to 32 kg with the container in cargo. The decision is based on customer feedback. Besides this, Akasa Air is also implementing a new travel certificate policy, which allows pets’ travel certificates to stay valid for 15 days instead of three. This will facilitate customers booking a shorter return journey within 15 days, while customers travelling beyond 15 days will need a new travel certificate. Since its launch in November 2022, Akasa Air has carried over 3,200 pets. In addition to Akasa, Air India allows pets in the cabin, while Spicejet allows them only in cargo. Air India Express permits passengers to travel with service animals. Previous Next

< Back The rise of social engineering attacks 19 Aug 2025 M&S, Caesars Entertainment, MGM Resorts, and Clorox have faced social engineering cyberattacks. In social engineering cyberattacks, hackers impersonate employees and call their IT helpdesks seeking help in case of lost credentials. Easily accessible personal information of employees or weak authentication practices allow hackers inside the system. Recently, Marks & Spencer faced such an attack on April 23 rd 2025, which led to a ransomware demand from DragonForce. They had used a TCS employee’s email ID. The attack caused M&S a loss of £300 million in operating profit. Clorox also had its system hacked similarly. A call routed through Cognizant’s IT helpdesk went without proper authentication. Clorox sued Cognizant for $380 million. In the case of the cyberattack on MGM Resorts, hackers used publicly listed employee information to impersonate staff. However, MGM refused to pay the $100 million ransom. Corporations are investing in behavioural training, real-time breach detection, and better descriptions of vendor responsibilities, especially in the case of social engineering cyberattacks. Check out my DEBUT BOOK, The Black Flames, on Amazon Kindle. Previous Next