Inc42

SUMMARY B2B ecommerce unicorn Udaan’s operating revenue grew 12.6% to ₹5,134 Cr in the financial year ended March 2026 (FY26) from ₹4,561 Cr in FY25 The recovery follows an uneven revenue trajectory — a 40% decline in FY23, marginal growth of 1.7% in FY24, and a 20% fall in FY25.

SUMMARY Fairfax has proposed to transfer all its interests in Go Digit General Insurance and Go Digit Life Insurance to IDBI Bank as part of its plan to build a broader financial services group Access to IDBI Bank’s distribution network is expected to expand Digit’s reach, while bringing banking, insurance, and capital markets services under one group The proposed transfers would take place at market prices and require regulatory approvals, with no changes expected to Digit’s existing...

SUMMARY DoT has directed Airtel, Jio, Vodafone Idea and BSNL to roll out CNAP from November 1, 2026 The service will help users identify unknown callers by displaying their names alongside phone numbers CNAP will be enabled by default on 4G and higher-generation networks, with exemptions for users who activate caller ID restrictions The Ministry Of Communications’ Department of Telecommunications (DoT) has directed telecom operators to roll out calling name presentations (CNAP) across their...

SUMMARY AI agents have moved from answering questions to acting on them, and India's newest AI startups are being built around what happens when software shops for a customer, speaks to one on the phone and hires on a company's behalf This month's cohort of five AI startups to watch spans agentic commerce, screen-free learning, agent reliability, AI-run contact centres and AI recruitment, each sitting at a different point where an AI system meets a real transaction, a real child or a real...

SUMMARY Ubiqedge is using its ₹10 Cr seed funding to build an AIoT platform that helps industrial equipment makers automate monitoring and regulatory compliance As factories shift from manual readings to IoT-based monitoring, equipment manufacturers face pressure to add connected hardware and software capabilities Founded in 2024, Ubiqedge combines its KLEON hardware platform with SAMASTH software to turn conventional industrial equipment into connected monitoring systems Nobody on a factory...

B2B manufacturing company Zetwerk’s ₹5,012.3 Cr IPO got off to a rather slow start today, receiving a mere 8% subscription as of 14:00 IST. Investors have placed bids for 1.50 Cr shares against 18.51 Cr shares on offer, as per BSE data. Qualified institutional buyers (QIBs) have been the most bullish on the public float till now, placing the highest number of bids for 75.67 Lakh shares. However, this translated to a mere 8% subscription of their quota of 9.89 Cr shares.

SUMMARY Confido Health has raised $12.5 Mn in a Series A extension led by Z47, taking its total Series A funding to $22.5 Mn The startup is expanding beyond AI-powered patient calls to automate connected administrative tasks across healthcare providers’ existing software systems Confido Health will use the capital to expand its CareOS platform across healthcare organisations with multiple sites and develop AI agents for more workflows and medical specialities US-based AI healthtech startup...

SUMMARY Tonbo Imaging’s IPO was subscribed 1.47X as of 13:06 IST on the first day of bidding, receiving bids for 1.26 Cr shares against 85.26 Lakh shares on offer Demand from NIIs and retail investors pushed the issue past full subscription, while bidding from QIBs remained muted The ₹852.1 Cr IPO, which follows a ₹255.4 Cr anchor allocation, consists entirely of an OFS and will close on October 19 Defence tech startup Tonbo Imaging’s IPO was fully subscribed within hours of opening for...

SUMMARY Shamrock AI has raised $5 Mn in a seed funding round led by Endiya Partners, with participation from Capria Ventures The startup is addressing the need to test and validate business processes as enterprises deploy AI agents across critical operations The fresh capital will support product development, team expansion across India and the US, go-to-market efforts, and expansion in the Middle East Enterprise AI startup Shamrock AI has raised $5 Mn (about ₹47.4 Cr) in a seed funding round...

Jio All Set For Its Mega IPO Reliance’s digital crown is heading down the Dalal Street. In what could be India’s biggest IPO yet, Jio Platforms has filed its RHP with SEBI for a ₹30,213 Cr listing. So, what does Jio Platforms’ IPO stack look like? India’s Biggest IPO: Jio Platforms’ public issue, which consists entirely of a fresh issue of 27 Cr equity shares, will open for subscription on October 21 and close on October 23.