CROMA FUNDING
Tata's trust for 3rd time: Why Chandrasekaran is a hot favourite
Tata Trusts has likely approved a third term for N Chandrasekaran as Tata Sons chairman, a departure from retirement policy. This move signals confidence in his leadership amid ambitious projects like semiconductors and Air India's revival. Chandrasekaran's tenure has seen significant revenue and profit growth, positioning the conglomerate for future challenges and opportunities.
AI's $1 trillion musical chairs; India's record iPhone exports
AI majors are caught in a circular investment loop and it is raising alarms. This and more in today's ETtech Top 5.
Losses@₹17k crore, Tata Group keeps faith in e‑comm with fresh ₹4k crore bet
Despite accumulated losses of ₹16,958.3 crore, the Tata group injected ₹4,000 crore into its e-commerce arm, Tata Digital, in FY25. This fresh equity signals continued investor confidence, even as primary businesses like Croma, Big Basket, and Tata 1MG remain loss-making. Management has assessed the going concern assumption, citing positive net worth and past fundraising abilities.
Croma gets Rs 1,000 crore recharge from Tatas, scope for more
Tata Group has injected ₹1,000 crore into Croma, its consumer electronics retail chain, following a ₹2,000 crore increase in authorized share capital. Despite losses swelling to ₹1,091 crore in FY25, Croma focuses on sustainable margins through cost control and strategic partnerships with Tata Digital. The company aims for profitability by streamlining operations and leveraging technology capabilities.
The ET Startup Awards 2025: elite jury to pick winners on August 28
Happy Tuesday! The ETtech team has been neck-deep preparing for the past few months to bring you the 11th edition of The Economic Times Startup Awards (ETSA). Today, we are unveiling the elite jury and nominees for two more categories — Woman Ahead and Social Enterprise.
Online Gaming Bill: Companies turn to law; Panic grips gamers
Happy Thursday! Gaming companies are prepping legal challenges to the new Online Gaming Bill. This and more in today’s ETtech Morning Dispatch.
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Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up
"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
Chandrasekaran’s Call: Tata chief pushes for profitable e-comm growth; revisits plan for external funding
The Tata Group has set up a separate core team of specialists within Tata Digital to strengthen financials and drive the push towards profitability.
Crayons Advertising files DRHP with NSE Emerge for IPO
Recently, the company announced that it won marquee mandates, including Tata Sons, National Skill Development Corporation, Indian Oil, TATA Croma, and Bank of Baroda. The mandate of the National Skill Development Corporation is to transform the brand notion and strengthen the connection with youth.
Tatas infuse ₹500 crore into Croma owner to expand ops
A couple of months back, Tata Group's other ecommerce platform, Tata Cliq, exited the electronics category and has sold the inventory to Infiniti Retail for about ₹113 crore.
ESR leases out 3.09 lakh sq ft warehousing space in Gurgaon to Tata Croma
Croma's distribution centre is within ESR Sohna Logistics Park, a 76.84-acre development located inside the KMP loop. It will ease and optimise the last-mile delivery challenges for the retailer in Delhi and neighbouring regions.
Tata Cliq to be integrated with Tata Neu, exits electronics business
Tata Cliq has exited the consumer electronics category, which formed 50-55% of its business, and its consumer electronics, smartphones and appliances division has been integrated with Croma, Tatas’ flagship consumer electronics retail chain, officials said.
N Chandrasekaran formally takes charge as chairman of Tata Digital
For Chandrasekaran, who was reappointed as the chairman of Tata Sons for another five years in February, Tata Digital has been his brain child since he took charge as Tata Sons chairman.
India’s biggest retailers to accelerate new store openings for the fiscal year
Reliance Retail, Tata-owned Croma, Aditya Birla Fashion & Retail, Dmart and RP-Sanjiv Goenka Group’s Spencer’s Retail and Nature’s Basket chains will together open more than 650 stores during the fiscal year with some signs of sales recovery being visible, executives said.
KredX bags $26 million in Series-B round
The platform works with more than 120 corporate houses such as Tata Croma, Future Group and Vedanta. The company plans to use the fresh capital to speed up growth by hiring senior leaders. It also intends to develop new products and use the funds for acquisitions.
Croma posts first net profit after 12 years of operation
The retail chain’s total income in FY18 went up by 15% to Rs 3813.74 crore while Infiniti Retail said its same store sales were higher by 13.1% in 2017-18, compared with the previous period.
Apple's RED iPhone 7, 7 Plus finally available for pre-order in India
The 128GB and 256GB variants are listed for Rs 70,000 and Rs 80,000 respectively.
MobiKwik eyes 5 lakh merchants on its platform in 12-18 months
MobiKwik claims that it registers over 1.5 million daily transactions and also allows users to load money in their wallet with cash.
