Lava Invests Rs 600 Crore in R&D and Marketing with its New Goals
With up to Rs 600 crore invested in product development and marketing over the next two years, domestic smartphone manufacturer Lava International anticipates a 10% market share in the sub-Rs 30,000 price range, according to a senior company official. Lava focused on its core strengths and reworked its growth strategy at a time when several Indian mobile phone companies buckled under the pressure of aggressive pricing by foreign players around 2016–17, along with difficulties presented by the implementation of the GST and demonetization.
Rapido is entering the four-wheeler aggregator market
Rapido, a logistics and bike taxi aggregator, is preparing to enter the four-wheeler market, which is currently controlled by industry titans like Uber and Ola Cab. Currently, Rapido operates in the two- and three-wheeler segments with a sizable fleet that includes 7 lakh auto-rickshaws and 50 million bike taxis. Rapido thinks it’s time to enter a different market area after spending the previous eight years studying and expanding its market. “In the near future, we will introduce the four-wheeler section. Rapido thinks it’s time to enter a new market sector after investing eight years in comprehending and expanding its business. The four-wheeler category will soon be introduced by us. When we have additional details to provide, we’ll keep you informed, said Pavan Guntupalli, one of the co-founders of Rapido, to Businessline. Guntupalli stressed that there is opportunity for three to four more businesses to enter this category when talking about the competitive environment in the bike taxi industry given the demand. He added that even in the most remote areas of the nation, this expansion will ultimately result in the creation of jobs.
Chennai Super Kings announces Cricket Academy in Tiruppur with release of Splendid Kings Academy
In a stride in the direction of promoting cricket excellence and nurturing younger talent, the Chennai first-rate Kings (CSK), a outstanding call within the Indian surest League (IPL), have set their points of interest on Tiruppur, Tamil Nadu. The franchise lately unveiled its an awful lot-anticipated undertaking, the tremendous Kings Academy, at a strategic location in collaboration with Yali sports private constrained. With a dedication to fostering emerging cricket stars, this pass marks a tremendous milestone in CSK’s journey and solidifies their dedication to the cricketing network The top notch Kings Academy in Tiruppur isn’t always only a cricket training middle; it’s a present day facility designed to form the future of cricket in the location. The academy’s infrastructure showcases its determination to presenting international-magnificence amenities and education opportunities. Proposing a tremendous array of 8 pitches, which include four turf, two matting, and astroturf surfaces, the academy guarantees a numerous and hard environment for younger cricketers to refine their competencies. Inclusivity and Past: The superb Kings Academy welcomes boys and girls aged 6 to 23, developing an environment in which cricket knows no barriers. This inclusive method displays CSK’s commitment to gender equality and presenting equal possibilities for all cricket fans. Aspiring cricketers, irrespective of their history or gender, will find a platform to nurture their dreams and aspirations. Kasi Viswanathan’s Vision: Kasi Viswanathan, the CEO of Chennai exceptional Kings Cricket confined, has been instrumental in bringing this formidable challenge to fruition. His determination to cricket development echoes via his words, “Our venture at incredible Kings Academy is to nurture expertise throughout Tamil Nadu . With facilities already running correctly in Chennai, Salem, Hosur, Trichy, and Tirunelveli; we are thrilled to extend our attain in addition with the aid of including Tiruppur as our newest location.” Viswanathan’s imaginative and prescient aligns perfectly with the franchise’s commitment to honing the abilities of Tamil Nadu’s cricketing youth. CSK’s high-quality Kings Academy in Tiruppur is a testament to their unwavering commitment to cricket’s future. Via combining top-notch infrastructure, inclusive possibilities, and visionary management, the academy stands as a beacon of wish for aspiring cricketers across the place. As the CSK franchise keeps to make strides on and off the sector, the release of this academy solidifies their position as not just a cricket crew however a nurturing force that empowers desires. With the first consumption of younger capabilities scheduled for December 2023, the adventure of shaping destiny cricket stars in Tiruppur is ready to start under tohe banner of the Chennai terrific Kings.
Boat Joins ONDC to Expand Its Presence in the Indian Market
Boat, the popular wearables brand, has recently joined the Open Network for Digital Commerce (ONDC) to strengthen its presence in the Indian market. ONDC is a Government of India initiative that aims to promote the adoption of digital commerce across the country. By joining ONDC, Boat will be able to leverage its digital infrastructure and offer a seamless shopping experience to its customers. ONDC’s platform allows businesses to connect with each other and with customers in a secure and efficient manner, enabling them to tap into a wider market and increase their revenue. The move comes at a time when Boat is experiencing strong growth in the Indian wearables market. The company has been expanding its product portfolio and has recently launched a range of smartwatches and fitness trackers. With the help of ONDC, Boat is looking to further strengthen its position in the market and reach out to more customers. Boat has also been in the news recently for its unlisted shares, which have been seeing strong demand in the market. The company’s success in the wearables market has led to a surge in investor interest, with many looking to buy Boat‘s unlisted shares. As a result, the price of Boat’s unlisted shares has been steadily rising, making it an attractive investment opportunity for investors. Boat’s decision to join ONDC is a strategic move that will help the company tap into the growing Indian market and expand its reach. With its strong product portfolio and increasing demand for its unlisted shares, Boat is well-positioned to capitalize on the opportunities presented by the Indian wearables market. BoAt Share Price as of 07-05-2023 is trading at RS. 765 in the unlisted market. Get regular updates on Boat share, share price, news, corporate actions.
SEBI Directs Lava International To Refile IPO Papers: What Does It Mean?
Lava International , one of the leading Indian mobile phone manufacturers, was recently directed by the Securities and Exchange Board of India (SEBI) to refile its IPO papers. The move has raised concerns among investors who were eagerly awaiting the company’s IPO. The SEBI’s decision to ask Lava International to refile its IPO papers was based on certain discrepancies in the company’s financial statements. SEBI found that the company had not provided adequate details about its financials in the draft red herring prospectus (DRHP) that it had filed earlier. The regulatory body also found that Lava International had not disclosed certain critical aspects of its business operations. The move has come as a setback for the company, which was planning to raise funds through an IPO to expand its operations and compete with other mobile phone manufacturers in the country. However, SEBI’s decision to ask the company to refile its papers does not mean that the IPO has been cancelled. Lava International can still go ahead with its IPO plans once it has addressed the concerns raised by SEBI. The decision to refile IPO papers is not uncommon in the Indian capital markets. SEBI is known for its strict regulations and scrutiny of IPO filings to protect investors’ interests. SEBI’s directive to Lava International is a reminder to companies that they need to be transparent and provide accurate and complete information in their IPO filings. Investors who were planning to invest in Lava International’s IPO should not be discouraged by this development. Instead, they should take it as a positive sign that SEBI is taking steps to ensure that companies provide accurate information to investors. Once Lava International refiles its IPO papers, investors will have the opportunity to assess the company’s financials and business operations in detail before making an investment decision. CONCLUSION SEBI’s directive to Lava International to refile its IPO papers may delay the company’s IPO plans, but it is a necessary step to ensure that investors are protected. Companies planning to go public should ensure that they provide accurate and complete information in their IPO filings to avoid any delays or regulatory action. Reliance Retail share price as of 04/05/2023 is Rs 133. Get regular updates on LAVA share Price , unlisted shares only on Bharat Invest.
Government Takes Steps to Address Angel Tax Concerns
The Department for Promotion of Industry and Internal Trade (DPIIT) is working closely with the Finance Ministry to address the concerns of startups regarding the contentious angel tax and fair market valuation, according to a top government official. The Union budget proposal to subject foreign investors to angel tax has raised apprehensions among startups about securing funding. Angel tax is levied on the capital raised by an unlisted company by selling shares to investors above the fair market value. Indian startups, already facing a funding freeze, are worried that the angel tax may further deter foreign investors, as they often sell shares at a high premium based on future growth prospects. The provision, scheduled to take effect on April 1, 2024, remains unchanged in the Finance Bill for the current fiscal year. The startup sector is already grappling with decreased funding, as foreign private equity and venture capital investments in Indian startups dropped to $54 billion in 2022 from $77 billion the prior year. Furthermore, startup deal volume in India reached a nearly nine-year low in February, reflecting weak sentiment within the ecosystem. A government official, requesting anonymity, stated, “There are concerns regarding angel tax coming from startups, and DPIIT is taking it up with the Department of Economic Affairs and Department of Revenue. Calculation of their fair market value (FMV) is different, which is taken internationally and by the income tax department. DPIIT is just trying to get them on the conversation table, tell them that there is a discrepancy and find some solution.” The government is contemplating exempting foreign funds from angel tax compliance, and rules on angel tax are expected to be issued this month, outlining exemptions for select foreign entities that are bona fide investors. The first set of foreign funds likely to be exempted includes sovereign wealth funds such as Abu Dhabi Investment Authority, GIC, and Qatar Investment Authority. This is due to concerns that the potential impact of Section 56(2)(vii)(b) tax could negatively affect foreign investments, which may undermine the government’s infrastructure investment push. The government has previously argued that the angel tax, or Section 56(2)(vii)(b), targets ‘hawala’ transactions rather than startups, and that ending ‘preferential treatment’ for foreign investors would level the playing field since Indian residents are already subject to this tax. However, the industry argues that, in practice, the law affects a significant number of startups and investors. Queries sent to the spokespeople for the Ministries of Commerce and Finance remained unanswered till press time. Anurag Jain, Secretary of DPIIT, said that angel tax would not apply to startups registered with the DPIIT, which currently number around 95,000. Tax experts said that angel tax is applied when the share price assigned to investors exceeds the FMV of the share. The difference is then subject to Section 56(2)(vii)(b), which experts say could lead more startups to consider relocating overseas, as foreign investors may avoid additional tax liabilities stemming from their investment in the startup. In conclusion, the DPIIT and Finance Ministry are actively working towards resolving the concerns of startups regarding angel tax and fair market valuation. The government is considering exemptions for select foreign entities to avoid potential negative impacts on foreign investments. However, startups in India continue to face funding challenges, and the industry is hopeful for a favorable resolution to support the growth and development of the startup ecosystem in the country. You can connect with bharatinvest to invest Get regular updates on share price, news, corporate actions.