Business

Rapido has raised USD 240 million in a fresh funding round led by Dutch investment firm Prosus, strengthening the company’s position in India’s rapidly evolving mobility market. Existing investors including WestBridge Capital and Accel also participated in the financing round. The investment values Rapido at USD 3 billion on a post-money basis and takes its cumulative funding to approximately USD 730 million.

ITC Hotels reported a robust financial performance for the March quarter, posting a 23.1 percent rise in consolidated net profit to Rs 317.43 crore amid sustained growth in India’s hospitality sector. Revenue from operations also climbed significantly to Rs 1,253.70 crore, reflecting rising travel demand, stronger occupancy trends, and improving premium hospitality consumption. Alongside its earnings announcement, the company revealed plans to acquire Zuri Hotels and Resorts for an enterprise value of Rs 205 crore, signaling a strategic expansion of its hospitality footprint.

Ola Electric Mobility Ltd has approved a major capital infusion of Rs 2,000 crore into its technology and battery subsidiaries as the company accelerates efforts to strengthen its position in India’s rapidly evolving electric vehicle market. The investment, cleared during a board meeting on May 15, includes Rs 500 crore allocated to Ola Cell Technologies Pvt Ltd through compulsory convertible preference shares. The move reflects Ola Electric’s long-term strategy to deepen vertical integration, enhance battery manufacturing capabilities, and expand proprietary technology infrastructure.

Flipkart has further consolidated its leadership position in India’s highly competitive e-commerce sector by maintaining an estimated 50-60 percent share of gross merchandise value (GMV) while recording the strongest weekly active user growth among major platforms. Recent market assessments indicate that the company added approximately 8.5 million weekly active users week-on-week, underscoring growing consumer engagement and repeat purchasing behavior.

Swiggy has clarified that proposed modifications to its board nomination structure are aimed at helping the company eventually qualify as an “Indian Owned and Controlled Company” (IOCC) under India’s foreign exchange regulations. The clarification came after institutional investors sought greater transparency regarding the rationale behind the governance-related amendments. The company stated that the proposed changes are part of a broader strategic and regulatory alignment process.

Jio Platforms has appointed Akash Ambani as managing director for a five-year term, a strategic leadership move that comes as the company prepares for a highly anticipated initial public offering. According to a regulatory filing, the appointment became effective on April 9, 2026. Industry observers view the decision as part of a broader succession and expansion strategy within the Reliance Group’s digital business empire.

Ola Electric is reportedly in discussions with multiple domestic and international automobile manufacturers to supply lithium-ion battery cells and battery packs from its Krishnagiri gigafactory, signaling a strategic shift beyond its in-house electric scooter business. The Bengaluru-based company currently operates India’s only active gigafactory with an installed capacity of 6 GWh and has commercially deployed its proprietary 4680-format Bharat Cell at scale through its subsidiary Ola Cell Technologies.

Adani Airport Holdings Ltd has entered into a strategic partnership with IHG Hotels & Resorts to develop five hotels across high-growth airport-linked and urban destinations in India, including Mumbai, Navi Mumbai, and Ahmedabad. The collaboration is expected to add nearly 1,500 hotel keys across multiple hospitality brands, reflecting growing investor confidence in India’s aviation-linked real estate and travel infrastructure sectors. The agreement also signals the increasing integration of airports with commercial hospitality ecosystems as operators seek diversified revenue streams.

TVS Motor Company has strengthened its leadership framework by appointing technology entrepreneur Ravindran Shanmugam as an independent director for a five-year term. The appointment, effective May 13 and pending shareholder approval, reflects the company’s increasing focus on innovation, digital transformation, and technology-driven growth strategies. Shanmugam currently serves as co-founder and executive chairman of Singapore-based AI-powered interior design platform Mablle.

Honda Motor Co. has unveiled an ambitious long-term strategy to rebuild and expand its passenger vehicle business in India, with market-specific models scheduled to launch from 2028 onward. Global CEO Toshihiro Mibe identified India as one of the company’s highest-priority markets alongside Japan and North America, underscoring the country’s growing importance within Honda’s global growth roadmap. The automaker also plans to leverage its dominant two-wheeler presence to transition existing customers toward passenger vehicles.