Reuters India Business

Indian e-commerce platform Meesho files confidentially for IPO

3 Jul 2025

By Haripriya Suresh BENGALURU (Reuters) -Indian e-commerce startup Meesho has confidentially filed draft papers for an initial public offering, a source aware of the matter told Reuters, with a document showing it plans to raise 42.5 billion rupees ($497.30 million) in fresh capital. Some existing investors will also pare their stake, the source added, without …

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India’s Shapoorji Pallonji Group unit eyes $300 million shares-backed loan, sources say

3 Jul 2025

By Khushi Malhotra MUMBAI (Reuters) -India’s Shapoorji Pallonji and Co, the construction arm of conglomerate Shapoorji Pallonji Group, is in talks with bankers to raise around $300 million to refinance existing debt, three sources familiar with the matter told Reuters on Thursday. The company may look to raise the funds in Indian rupees, and the …

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India services sector growth hits 10-month high as demand surges, PMI shows

3 Jul 2025

BENGALURU (Reuters) -India’s services sector enjoyed its strongest growth in ten months in June, fuelled by robust demand and cooling price pressures, a survey showed on Thursday. The HSBC final India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, climbed to 60.4 in June from 58.8 in May, but was a touch lower than …

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Rupee supported by hopes of India-US trade deal, weak US jobs data

3 Jul 2025

By Nimesh Vora MUMBAI (Reuters) -The Indian rupee is likely to open marginally higher on Thursday, supported by an uptick in most Asian currencies on optimism over signing trade deals with the United States before the tariff deadline. The 1-month non-deliverable forward indicated an open between 85.60 and 85.64 versus 85.7025 in the previous session. …

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After Prada ‘sandal scandal’, Indian brands tap heritage pride to boost sales

3 Jul 2025

By Dhwani Pandya, Arpan Chaturvedi and Elisa Anzolin MUMBAI/MILAN (Reuters) -Indian footwear sellers and artisans are tapping into nationalist pride stoked by the Prada ‘sandal scandal’ in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft. Sales are surging over the …

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India’s Max Financial reports cyber threat at unit

2 Jul 2025

(Reuters) -India’s Max Financial Services said on Wednesday that its unit, Axis Max Life Insurance, received communication about unauthorized access to some customer data from an anonymous sender. The company has initiated a security assessment and data log analysis, Max Financial said. “A detailed investigation is also underway in consultation with information security experts to …

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Gold rises as weak ADP employment data strengthens rate cut bets

2 Jul 2025

By Anushree Mukherjee and Sarah Qureshi (Reuters) – Gold prices firmed on Wednesday as weaker-than-expected jobs data fueled hopes of the U.S. Federal Reserve cutting rates sooner than anticipated, while investors also awaited the upcoming non-farm payrolls report for further cues on monetary policy. Spot gold was up 0.3% at $3,348.60 per ounce, as of …

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Indian court allows Crocs to pursue infringement challenges

2 Jul 2025

By Arpan Chaturvedi NEW DELHI (Reuters) -An Indian court has revived nine-year-old lawsuits filed by Crocs Inc which accused several Indian companies of launching footwear identical to its popular rubber clogs, allowing the U.S. firm to press ahead with its infringement challenges. The court’s announcement late on Tuesday comes just as another international brand, Prada, is …

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Reliance Communications loan account flagged by SBI for suspected fraud

2 Jul 2025

By Jayshree P Upadhyay and Hritam Mukherjee MUMBAI (Reuters) -State Bank of India (SBI) is classifying the loan account of insolvent Reliance Communications as fraudulent, citing alleged diversion of funds in a case dating back to 2016. The disclosure was made by Reliance Communications in a securities filing that attached a June 23 letter from …

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India’s Nykaa shareholder to sell stake worth $150 million, NDTV Profit reports

2 Jul 2025

(Reuters) -A shareholder in India’s Nykaa, Hong Kong-based investor Harindarpal Singh Banga and his family, plan to sell stake worth 12.84 billion rupees ($149.93 million) in the beauty products retailer through a block deal, news portal NDTV Profit reported on Wednesday. The sale will likely be at a 4% discount to Nykaa’s current market price, …

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