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Flipkart and Snapdeal Merger No More

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The much talked about and hyped merger between the two home grown ecommerce rivals Flipkart and Snapdeal has been officially canceled. The Gurgaon based startup wants to pursue an ‘independent path’ and therefore will terminate all other strategic discussions, including the merger talks with Flipkart.

Termed as one of the biggest consolidation in the Indian ecommerce ecosystem, this merger has been the most talked about acquisition for the past five months with countless board meetings and multiple twists. A Snapdeal spokesperson in a statement said Snapdeal has been exploring various strategic options over the past several months and has finally decided to pursue an independent path. The spokesperson also added, Snapdeal has a new and compelling direction Snapdeal 2.0 and have made significant progress towards the ability to execute this by achieving a gross profit this month.

Both the majority shareholders of Flipkart and Snapdeal, Tiger Global and SoftBank had been pushing for this merger. SoftBank, which presently owns more than 47% of Snapdeal, would also invest in the merged entity and buy out one third of Tiger Global’s Flipkart shares. According to various reports, SoftBank might still invest in Flipkart and not continue its association with Snapdeal.

A spokesperson for Softbank said they will remain invested in the vibrant Indian ecommerce space and look forward to the results of the Snapdeal 2.0 strategy. They also added both Masayoshi Son’s and SoftBank’s investment philosophy has always been supporting entrepreneurs and their vision and aspirations. Therefore they respect Snapdeal’s decision to pursue an independent strategy.

Cofounders of Snapdeal Kunal Bahl and Rohit Bansal have been hesitant to merge with Flipkart since the very beginning, fighting SoftBank tooth and nail to prevent the deal. They have also been in talks with senior executives of various firms looking for alternative routes. Reports also mentioned the founders were also in talks with business to business major Infibeam, for a possible merger.

Flipkart’s revised termsheet also held various holdbacks and clauses as protection from all the decisions taken by the Snapdeal board that might have an effect on the company after the merger for a period of two years. The new clauses laid the blame of any wrongdoing on the Snapdeal shareholders and held back a part of the money for the first couple of years. Ratan Tata, Foxconn, Temasek and BlackRock had given their in principal approval for the merger. The approval of 26 other shareholders was required for the deal to go through.

Snapdeal found a little breathing space after the sale of its online digital payments platform FreeCharge to Axis Bank in a Rs. 385 crores all cash deal. The all cash sale provided Snapdeal with the ammunition necessary to remain independent for a couple of more years and retain their control over the online market space. Post the sale of FreeCharge Kunal Bahl, in an email to all employees, termed the acquisition a great outcome calling the second chance an opportunity of a lifetime they must seize. Snapdeal has also been looking to sell their logistic arm Vulcan Express.

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Jio BlackRock Gets SEBI Approval to Launch Brokerage Operations in India

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Jio BlackRock Broking Private Limited, a joint venture between Jio Financial Services and BlackRock Inc., has received final approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm. The regulatory nod, granted via a certificate of registration issued on June 25, 2025, allows the company to function as both a stockbroker and a clearing member in India’s financial markets. This milestone follows a series of regulatory clearances for the Jio BlackRock ecosystem, including approvals for mutual fund and investment advisory businesses, underscoring the joint venture’s ambition to build a comprehensive, digital-first financial services platform.

As a wholly owned subsidiary of Jio BlackRock Investment Advisers, the broking arm aims to deliver affordable, transparent, and technology-driven execution services to Indian investors. The company’s leadership has emphasized that the new platform will empower self-directed investors with seamless execution capabilities, complementing its broader strategy to democratize access to investment solutions in India. The approval is expected to further strengthen Jio BlackRock’s position in the rapidly expanding financial services sector, offering a full suite of products from mutual funds and advisory to brokerage, all accessible through user-friendly digital channels.

The market responded positively to the news, with Jio Financial Services shares rising over 4 percent following the announcement. Industry analysts view this regulatory milestone as a significant step in Jio BlackRock’s efforts to transform India’s investment landscape, moving the country closer to becoming a nation of investors rather than just savers.

 

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CoRover Unveils BharatGPT Mini: India’s First Offline Multilingual AI

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CoRover has launched BharatGPT Mini, India’s first offline multilingual AI model, at VivaTech 2025 in Paris, with the event officiated by Union Minister Jitin Prasada. This innovative Small Language Model (SLM), featuring around 534 million parameters, is specifically designed for edge devices and low-compute environments, enabling robust AI capabilities without the need for cloud connectivity. Its ability to function entirely offline and support 14 Indic languages makes it a powerful tool for digital inclusion, particularly in rural and remote regions where internet access is limited.

BharatGPT Mini’s architecture is optimized for deployment across various sectors, including healthcare, education, banking, and governance, allowing citizens to interact with essential services in their native languages. The model can be integrated into small businesses, government offices, and other organizations through the CoRover Builder platform, which offers a no-code solution for deploying AI assistants across web, telephony, and IoT systems. By processing data locally and encrypting it on-device, BharatGPT Mini ensures strong privacy and data sovereignty, aligning with India’s strategic goal of developing indigenous AI solutions. 

The launch has garnered strong support from both the Indian government and industry leaders, who see BharatGPT Mini as a catalyst for democratizing access to digital services. CoRover anticipates significant growth in the adoption of Small Language Models, with early feedback indicating a substantial increase in project demand. As CoRover looks to expand its expertise globally, BharatGPT Mini stands out as a scalable, multilingual, and privacy-centric solution, setting a new standard for inclusive and sovereign AI innovation in India’s diverse landscape.

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Kerala Startup E-Quark Launches Innovative Mobile Holder with Built-In Charger

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Kerala-based startup E-Quark Molecule Innovations Pvt Ltd, headquartered in Thrissur, has introduced an innovative device called Keratin that combines a mobile phone holder with a built-in charger. This unique gadget is designed to offer users a convenient solution to hold and charge their smartphones simultaneously, addressing the common challenge of managing power supply while using mobile devices.

The device enhances user experience by integrating two essential functions into one compact design. It securely holds the phone while providing efficient charging, making it perfect for use on desks, bedside tables, or other personal spaces where easy access and power are needed. This innovation aligns with the growing trend of multifunctional mobile accessories that prioritize both convenience and practicality.

E-Quark Molecule Innovations is a key player in Kerala’s dynamic startup ecosystem, which has been rapidly expanding in tech-driven areas such as electric vehicle charging infrastructure. With the launch of this mobile holder-charger, the company is establishing itself as a leader in user-centric mobile accessories, further cementing Kerala’s position as a hub for cutting-edge technology development.

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