Author: Legal Parivar

Zomato parent Eternal’s founder and CEO Deepinder Goyal on Thursday, January 1, 2026, addressed concerns around the company’s 10-minute delivery promise amid the nationwide gig workers’ strike on New Year’s Eve, saying the system is often misunderstood and misrepresented on social media. Responding to criticism, Goyal acknowledged that while no system is perfect and there is always room for improvement, the portrayal of gig work as inherently exploitative is inaccurate. “No system is perfect, and we are all for making it better than today. However, it is far from what it is being portrayed on social media by people who…

India’s primary market calendar for January 2026 is shaping up to be one of the busiest starts to a year in recent times. From artificial intelligence and renewable energy to defence, mining, finance and hospitality, several large mainboard companies are either market-ready or awaiting final regulatory clearances. If all these issues go ahead, total fundraising could exceed ₹25,000 crore, though no company has officially announced launch dates yet. Here’s a look at the key IPO candidates to watch: Fractal Analytics AI-driven analytics firm Fractal Analytics is planning an IPO worth around ₹4,900 crore, comprising a ₹1,279.3 crore fresh issue and…

The Enforcement Directorate (ED) on Thursday said it has frozen assets worth ₹192 crore linked to real-money online gaming platform WinZO, following searches conducted at the premises of the company’s accounting firm. The search operation was carried out on December 30 at the office of the auditor of ZO Games Pvt. Ltd., a wholly owned Indian subsidiary of WinZO Pvt. Ltd. During the action, the federal probe agency froze fresh deposits classified as alleged “proceeds of crime” under the Prevention of Money Laundering Act (PMLA). According to the ED, the frozen assets include bank balances, fixed deposits and mutual fund…

Foreign Portfolio Investors (FPIs), also referred to as Foreign Institutional Investors (FIIs), remained net sellers in the Indian equity market on Thursday, January 1, 2026, offloading shares worth ₹439 crore, according to provisional data from stock exchanges. During the session, FPIs purchased equities worth ₹1,067 crore, while their total sales stood slightly higher at ₹4,336 crore, resulting in net outflows. In contrast, Domestic Institutional Investors (DIIs) once again provided support to the market, emerging as net buyers to the tune of ₹4,189 crore. DIIs bought shares worth ₹13,045 crore, while their selling activity was comparatively lower at ₹11,519 crore. FPI…

Kolkata-based Yajur Fibres, which specialises in the production of cottonised bast fibres, will open its initial public offering (IPO) for subscription on January 7. The SME issue has been priced in a band of ₹168–174 per equity share. The company aims to raise ₹120.4 crore through the IPO, which comprises a fresh issue of 69.2 lakh shares at the upper end of the price band. There is no offer-for-sale component in the issue. Yajur Fibres’ public issue is the largest SME IPO in over three months in terms of fundraising size. The last major SME issue of comparable size was…

Sapphire Foods India on Thursday announced plans to merge with Devyani International, a move that will consolidate the Indian franchisee operations of Yum! Brands-owned quick-service chains KFC and Pizza Hut under a single, scaled platform. The proposed merger comes at a challenging time for India’s fast-food industry, which has been grappling with slowing same-store sales and margin pressure as consumers rein in discretionary spending amid rising living costs. Key merger details Under the merger scheme outlined by the two companies, Devyani International Limited (DIL) will issue 177 shares for every 100 shares held in Sapphire Foods India Limited (SFIL). The…

The Indian rupee began 2026 on a subdued footing, extending its recent losses to close at 89.97 per US dollar on Thursday. The local currency opened marginally weaker at 89.95 and ended the session about 0.1% lower compared with its previous close of 89.87. Market participants attributed the mild depreciation largely to corporate dollar demand and thin trading volumes during the holiday-shortened session, with most global markets shut on account of the New Year. Factors Pressuring the Rupee Persistent foreign capital outflows continued to weigh on the currency. Provisional data from the NSE showed that foreign institutional investors (FIIs) were…

Ola Electric announced an expansion in its market presence in December, supported by higher service capacity under its in-app Hyperservice initiative. The company said the programme helped improve customer experience and service turnaround, contributing to stronger registrations and market share gains. According to the company, Ola Electric registered 9,020 units in December, taking its month-on-month market share to 9.3%, up from 7.2% in November 2025. The company added that momentum picked up in the latter half of the month, with market share rising to nearly 12% in the second half of December, indicating improved demand trends. The Hyperservice feature, rolled…

India’s Goods and Services Tax (GST) revenues showed signs of a gradual recovery in December, providing relief after a softer performance in the previous month. Gross GST collections stood at ₹1.74 lakh crore, registering a 6.1% year-on-year increase, compared with around ₹1.70 lakh crore collected in the preceding month. December marked the fastest growth in GST revenues in three months, indicating improving tax buoyancy following the government’s rate rationalisation measures announced in September. However, the recovery was driven more by imports than domestic consumption. After accounting for refunds, net GST revenue came in at ₹1.46 lakh crore, reflecting a modest…

Zomato and its quick-commerce arm Blinkit delivered more than 75 lakh orders on New Year’s Eve, marking an all-time high, even as sections of gig workers had called for nationwide strikes, founder Deepinder Goyal said on Thursday. In a statement, Goyal said operations across both platforms remained unaffected by strike calls, with delivery activity continuing at a record pace. According to him, over 4.5 lakh delivery partners collectively served more than 63 lakh customers on December 31, supported by coordination with local law enforcement agencies to prevent disruptions. “This happened without any additional incentives beyond what is typically offered on…