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Walmart To Get Funds For Flipkart Deal By Next Year!

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The Walmart-Flipkart deal which was making headlines earlier this year caught everybody’s attention but, there’s more to the story. The homegrown e commerce firm Flipkart is yet to get the final funds from Walmart. Though the deal is finalized but the funds Walmart Inc., has to give is currently pending as the US retail giant is busy arranging the funds to zip up the deal. According to reports, the retail titan would close the acquisition of a 77 % stake in India’s largest online retailer Flipkart in 2019 i.e, next year.  Walmart had earlier claimed that it will close the deal by the end of 2018. Apparently, Walmart doesn’t seem able to fulfill the demand this year. However, if it fails to arrange the amount by next year, it will have to repay a significant portion of the bond issue. A March 9, 2019 deadline has been set in the share purchase agreement between the two companies around which the termination rights have been negotiated, as per a regulatory filing made in May.

A Walmart spokesperson said Walmart is working with the authorities in India and we are hopeful of timely approval. We are still expecting closing later this calendar year, subject to regulatory approval. The date in the 8 K filing on June 21, 2018, is related specifically to the bonds we recently issued. According to both the firms the proposed transaction does not give rise to competition concerns and the relevant market for the partnership is the pan-India market for B2B sales.

Apart from the fundings, there is another twist in the tale! A huge number of retail and trader groups are protesting with regards to the Walmart-Flipkart deal. About 10 lakh traders would take to the streets as they hold a nationwide protest. The protest is being organised by trade body Confederation of All India Traders (CAIT) and is likely to draw participation from the RSS affiliated Swadeshi Jagran Manch. The protest is expected to be a sit-in across 1,000 spots in 500 cities.  The CAIT also filed a petition during the end of May with the anti-trust regulator CCI, objecting to the Walmart-Flipkart deal, citing the reason that such a merger would lead to predatory pricing and deep discounts among others. The Secretary General Praveen Khandelwal, of CAIT said we expect the government to intervene and take suitable action in accordance with various announcements of Prime Minister Narendra Modi to uplift small businesses in the country. This deal will directly affect small traders of the country who will not be able to compete with Walmart.

Walmart-Flipkart deal is one the largest acquisitions of all time. Can we expect more such deals? Share your views in the comments section below!

 

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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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