The stuff that went into NextBigWhat’s /Today Newsletter
Salesy season has begun in India and here are a few products which are really worth buying and are now carrying great discounts:
- Echo dot (the latest version) – is launching in India on Oct 16th and you can purchase it for Rs. 5499 (details).
- All-New Kindle (10th Gen), 6″ Display now with Built-in Light – available for just Rs. 6249 (which is a pretty neat deal/Get it).
Talking about the discounts, both FK and Amazon are reporting better-than-expected numbers from day 1 sales.
Flipkart said customers opting for affordability options spent 2.5 times more than other customers, while Amazon said the number of customers opting for EMIs doubled and 75% of them were from smaller towns and cities.
Top three premium smartphone brands Samsung, OnePlus and, Apple accounted for Rs 750 crore in sales in one day, while Amazon’s own product Echo Dot was the most sold product on the site. [ET]
IRCTC IPO Opens Today
Though this IPO in state-run IRCTC, the government is offloading 2 crore equity shares or 12.6% stake, which will bring down its stake to 87.4%.
The price band of ₹640 crore IRCTC IPO has been fixed at ₹315-320 per share but retail investors and eligible employees would be offered a discount of ₹10 per share. [Livemint]
The company operates in four business segments: internet ticketing (12.4% of topline), catering (52.9%), sale of products including packaged drinking water under the “Rail Neer” brand (11.1%), and travel and tourism (23.5%),
Grofers to add 700 kirana stores onto network, eyes $1 billion revenue by year-end
“We are aggressively growing our business and aiming to clock $1 billion in revenue by end of 2019 with a significant focus on our in-house brands in 2019. Our G-brands contribute 40 percent to our current revenue, and we plan to increase it to 60 percent in the coming years,”
The distribution expansion to offline kirana stores earlier this year has helped in increasing penetration of the G-brands. [Grofers Founder, Saurabh Kumar / source]
“China is closing the technological gap with the United States, and though it may not match U.S. capabilities across the board, it will soon be one of the leading powers in technologies such as artificial intelligence (AI), robotics, energy storage, fifth-generation cellular networks (5G), quantum information systems, and possibly biotechnology,” U.S.-based think tank the Council on Foreign Relations (CFR) said in a recent report.
FYI: China’s digital economy accounts for over 34% of the country’s gross domestic product.(via)
OYO Life has signed an agreement to provide 500+ beds for students of both IIT Delhi and Plaksha Tech Leaders Fellowship in Delhi and Gurugram to provide affordable accommodations starting from Rs6,500 and going up to Rs12,999 per bed, per month, depending on the location and size of the room. All OYO Life buildings will be equipped with essential amenities like Wi-Fi connectivity, television, refrigerator, AC, regular housekeeping, power backup, CCTV surveillance, and 24/7 caretaking (source).
IPL brand valuation soars 13.5% to Rs 47,500 crore
Among franchises, Mumbai Indians, with a brand value of Rs 809 crore, up by almost 8.5% from last year, continues to top the charts for the fourth season in a row. Chennai Super Kings also has seen a massive gain of 13.1% in its brand value to Rs 732 crore, propelling the team to the No.2 spot in the brand rankings (via).
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