After Maharashtra, the Gujarat government has inked a letter of intent (LoI) with Elon Musk-led Starlink to strengthen digital connectivity in the state through the latter’s satcom service.  In a post on X, Gujarat chief minister Bhupendra Patel said the LoI will enable high-speed satellite-based internet connectivity in remote, border, tribal and underserved areas with limited telecom infrastructure.   The collaboration will support egovernance and common service centres, schools, primary health centres, telemedicine services, disaster management systems, ports, wildlife sanctuaries and key government institutions.  The CM said that a “joint working group”, comprising officials of the Gujarat government and Starlink, will be formed to ensure the execution of the LoI.  The development comes months after Maharashtra signed a similar LoI with Starlink to deploy satellite-based internet services for government institutions in the state.   SpaceX, the parent of Starlink, got clearance from IN-SPACe to kick start commercial operations in India through LEO satellites constellation Starlink Gen1 in July last year. It had received similar approvals from the telecom department and TRAI in 2025.  However, this approval was only for the satellite services. As per a recent report, the company will need fresh approval from IN-SPACe to offer its new technology services…  ​Read MoreInc42 Media

Update | February 09, 18:00 IST Fractal Analytics’ IPO saw a tepid opening with the issue getting subscribed 9% on the first day. Investors cumulatively placed bids for 15.8 lakh shares against the 1.85 Cr shares available. Retail investors showed the strongest interest in the public float, subscribing their quota by 35%. These investors placed bids for 11.3 Lakh shares against 32.37 shares reserved for them.  The non institutional investor (NII) portion was subscribed 7%, with these investors placing bids for 3.49 Lakh shares against 48.55 Lakh shares on offer.  Meanwhile, the employee quota saw a 13% subscription, receiving bids for 1.01 Lakh shares against 7.77 Lakh shares reserved for them.  However, qualified institutional buyers (QIBs) placed the least bids of 224 shares against 97.10 Lakh shares reserved for them.  Original | February 09, 13:53 IST AI and data analytics company Fractal Analytics’ IPO kicked off to a lukewarm investor response on Monday (February 9).  As of 13:27 IST, the issue received bids for 11.19 Lakh shares against 1.85 Cr, translating to a mere 6% subscription.  Retail individual investors (RIIs) have placed the highest number of bids till now, bidding for 8.08 Lakh shares against 32.36 Lakh shares on offer.…  ​Read MoreInc42 Media

Ashish Agrawal was the centre of attention at an industry event hosted by Peak XV in December 2025. Fresh off taking Groww to the IPO milestone, Agrawal was in the thick of it on the night — founders, other investors, representatives of industry bodies and law firms huddling around him, more than any other partner from the firm. It showed that Agrawal had well and truly become a vital cog in the Peak XV machine. All that changed in a matter of weeks. “I remember celebrating Ashish’s breakthrough performance (Groww IPO exit), which put Peak XV right there at the top of India’s VC industry in terms of exits. It was the most successful exit by any VC fund in India,” a partner working with a marquee global VC firm told Inc42.  Like much of the startup ecosystem, the VC world was stunned by what had happened at Peak XV Partners with the exits of its three partners — managing directors Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma. It is part of an exodus from the major VC fund that began close to two years ago.   “There was not much chatter or shock in investor groups on WhatsApp around this.…  ​Read MoreInc42 Media

Update | February 09, 17:33 IST  Aye Finance’s IPO saw some traction toward the end of the first day of bidding, with overall subscription improving to 0.12X, driven largely by late participation from institutional investors. The QIB category received bids for 31.88 Lakh shares against 2.48 Cr shares reserved, translating to 13% subscription. Within QIBs, foreign institutional investors (FIIs) bid for 9.3 Lakh shares, while other QIBs placed bids for 22.58 Lakh shares. Domestic financial institutions and mutual funds didn’t place any bids on the first day.  Retail investors continued to lead demand, with their subscription rising to 26%. They placed bids for 21.51 Lakh shares. Meanwhile, interest from NIIs remained muted, with the category subscribed just 1%.  Overall, the IPO received bids for 54.46 Lakh shares against 4.55 Cr shares on offer.  Original | February 09, 14:09 IST  NBFC Aye Finance’s initial public offering (IPO) got off to a slow start on the first day of bidding, with the issue subscribed 3% as of 13:09 IST. The IPO failed to attract any interest from qualified institutional buyers (QIBs), with the segment getting zero bids against 2.48 Cr shares reserved for the category. Non-institutional investors (NIIs) also showed a tepid…  ​Read MoreInc42 Media