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- Target plans to lay off about 150 employees from - Target plans to lay off about 150 employees from its global capability centre (GCC) in India.

- These layoffs are part of a broader reduction of 1,800 corporate roles amid sluggish sales.

- The Indian layoffs represent 8% of total reductions and 3% of Target's workforce in India, which had 5,500 employees.

- The specific business divisions affected and severance details remain unclear.

- A Target spokesperson emphasized these changes are intended to simplify operations and enhance growth potential.

- Target is also closing 800 open positions globally.

- Amazon plans to reduce its Indian workforce by 1,000-1,500, affecting various units.

- Retail GCCs thrive in India, housing numerous global companies developing technology for improved shopping experiences.

- Over 70 retail GCCs in India employ over 85,000 people.
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#OverNexus #TargetLayoffs #CorporateJobCuts #IndiaJobMarket #EmploymentTrends #BusinessNews
Lenskart Solutions Ltd has successfully raised ₹ Lenskart Solutions Ltd has successfully raised ₹3,268.36 crore from 147 anchor investors ahead of its IPO, priced at ₹402 per equity share. 

The public offer opens on Friday and closes on Tuesday, with a price band set at ₹382–₹402 per share. 

Investors can bid for a minimum of 37 shares. 

Lenskart allocated 8,13,02,412 equity shares to anchor investors, including renowned domestic and global institutional investors. 

Notably, 35.34% of the total allocation was distributed to 21 domestic mutual funds via 59 schemes, with significant participation from SBI, HDFC, and ICICI Prudential Mutual Funds. 

Additionally, insurance companies like SBI Life and HDFC Life participated, alongside strong foreign interest from entities such as the Government of Singapore and BlackRock. 

This demonstrates robust demand for Lenskart's equity shares.
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#OverNexus #startupnews #LenskartIPO #InvestmentNews #AnchorInvestors #FundingSuccess #StockMarketUpdates
Pluro Fertility and IVF has secured ₹125 crore i Pluro Fertility and IVF has secured ₹125 crore in a Series A funding round led by Bessemer Venture Partners, valuing the startup at ₹1,000 crore. 

Among the angel investors participating are notable names like Vikram Chatwal and Dharmil Sheth. 

This funding will help Pluro expand its fertility network across India, with plans to establish 25 fertility centres by March 2026 and over 100 within three years. 

Founded in 2025 by Dr. Jaydeep Tank, Dr. Parikshit Tank, and Dr. Bhaskar Shah, Pluro adopts a clinical partnership model to support IVF specialists while ensuring compliance and technology integration. 

The company aims to enhance operational efficiency using technology and improve patient outcomes. 

Pluro's model supports a growing need for affordable and quality fertility care in India amid rising infertility rates. 

The partnership with Bessemer and other investors is expected to bolster Pluro’s ambition to become a national leader in fertility care, incorporating advanced analytics and future-facing research initiatives.
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#OverNexus #PluroFunding #SeriesAFunding #BessemerVenturePartners #StartupInvestment #IndianStartups
Employees of B9 Beverages, associated with the cra Employees of B9 Beverages, associated with the craft beer brand Bira91, have reached out to government authorities regarding continuous issues such as unpaid salaries and violations related to provident fund (PF) and tax deducted at source (TDS). 

Approximately 90 employees have expressed their grievances in an open letter, revealing that many have not been paid for seven months, leading to severe financial strain affecting over 600 families. 

Allegations include a failure to deposit around ₹50 crore of TDS, a serious violation of the Income Tax Act. 

Furthermore, PF contributions have halted since April 2024, restricting employees from accessing their dues. 

The letter also highlights the non-payment of gratuity to former employees and outstanding payments to vendors, violating the Payment of Gratuity Act. 

Employees report the company faces liabilities of ₹1,400–1,500 crore, including substantial debts and vendor dues, and lacks a functional office due to unpaid rent. 

They are urging the government to investigate and take action against the company’s directors. Investors have also expressed concerns about the company’s financial health following its expansion.
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#OverNexus #startupnews #Bira91 #TDSDefault #SalaryDelay #EmployeeRights #FinancialTransparency
DLF reported a 15% year-on-year decline in consoli DLF reported a 15% year-on-year decline in consolidated net profit for Q2 FY26, amounting to ₹1,180.09 crore, down from ₹1,381.22 crore in the previous year, largely due to increased tax expenses, which reached ₹276.32 crore compared to a tax reversal of ₹466 crore in the same quarter last year. 

Revenue from operations also fell by 17% to ₹1,643 crore from ₹1,975 crore. 

However, new sales bookings surged to ₹4,332 crore in Q2 FY26, significantly up from ₹692 crore in the prior year, driven by the successful launch of The Westpark in Mumbai and healthy sales in the super-luxury segment. 

DLF aims for a sales target of ₹20,000-22,000 crore for FY26, with cumulative bookings for H1 FY26 at ₹15,757 crore. 

Earnings before interest, taxes, depreciation, and amortisation (Ebitda) grew by 27% to ₹902 crore, with an Ebitda margin of 40%. 

The net cash position stood at ₹7,717 crore despite recent dividend payouts and debt repayment. 

The company emphasized continued investment in its balance sheet and a strong demand for its developments, with an occupancy rate of 94% in its annuity business. 

Shares closed slightly lower at ₹776.70.
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#OverNexus #businessnews #DLFFinancialResults #Q2ProfitDecline #RevenueFall #RealEstateMarket #SalesPerformanceAnalysis
OpenAI Inc. is preparing for an IPO, potentially v OpenAI Inc. is preparing for an IPO, potentially valuing the company at up to $1 trillion and marking one of the largest public offerings in history. 

CEO Sam Altman is considering a filing as early as the second half of 2026, with plans to raise between $60 billion and more. 

Despite early talks, specifics regarding figures and timing may shift based on market conditions and growth. 

CFO Sarah Friar hinted at a 2027 target for the listing, while some advisers suggest a possible late 2026 launch. 

A spokesperson stressed that an IPO is not their immediate focus, emphasizing the need to build a robust business aligned with their mission. 

The IPO discussions coincide with a surge in AI-driven public markets, highlighted by AI cloud company CoreWeave's successful public debut and Nvidia's $5 trillion valuation milestone. 

This potential IPO aims to enhance capital-raising efficiency and support Altman's ambitious plans for AI infrastructure amidst rising annual revenue yet increasing losses within the company.
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#OverNexus #startupnews #OpenAIIPO #TechInnovation #FutureOfAI #InvestmentOpportunities #MarketTrends
Ola Electric CEO Bhavish Aggarwal informed the Kar Ola Electric CEO Bhavish Aggarwal informed the Karnataka High Court that a suicide note left by deceased employee K. Aravind was fabricated, while seeking dismissal of a police complaint accusing them of abetment to suicide. 

The police filed a case on October 6 based on Aravind’s brother Ashwin Kannan's complaint, alleging workplace harassment after Aravind died by suicide on September 28. 

The FIR includes Aggarwal and Subrath Kumar Das, citing Section 108 of the Bharatiya Nyaya Sanhita. 

During the hearing, Senior Advocate M. S. Shyamsundar argued that death notes are not always reliable, raising doubts about Ashwin Kannan's involvement in the narrative of the note. 

In response, Advocate P. Prasanna Kumar expressed disappointment over the petitioners' accusations, asserting that the company was “worse than the East India Company” and urging proper investigation into the note's authorship. 

The court extended an interim order protecting the petitioners from harassment during the investigation and required their cooperation. 

The case will be heard again on November 17.
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#OverNexus #OlaElectric #LegalBattle #SuicideNote #JusticeForAll #CorporateResponsibility
IntrCity SmartBus has secured ₹250 crore in Seri IntrCity SmartBus has secured ₹250 crore in Series D funding led by A91 Partners to enhance customer experience, fleet management, and expand into Tier-2 and Tier-3 cities. 

Co-founder Kapil Raizada mentioned plans to double the fleet and target a ₹1,000 crore turnover by next year, while maintaining a 50% annual growth rate. 

The investment will support customer satisfaction and operational excellence, benefiting operator partners. 

IntrCity operates on an asset-light model across 630 routes in 15 states, powered by advanced technology for real-time tracking and fleet management. 

The intercity travel market in India, valued at $66 billion in FY20, is expected to grow 10-13% annually. 

Raizada highlighted the need for public investment in bus terminal infrastructure to further facilitate this growth.
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#OverNexus #businessnews #IntrCitySmartBus #IntercityTravel #InvestmentNews #TravelInnovation #IndiaTransport
Quick services startup Snabbit has secured $30 mil Quick services startup Snabbit has secured $30 million in a Series C funding round led by Bertelsmann India Investments, with contributions from existing investors such as Lightspeed, Elevation Capital, and Nexus Venture Partners. 

This funding, the third in nine months, raises Snabbit's total capital to $55 million. 

The company aims to expand into high-frequency categories like cooking, childcare, and elderly care with this new investment. 

Founder Aayush Agarwal highlighted the significant interest from investors as a testament to Snabbit's execution and potential. 

Rahul Taneja from Lightspeed emphasized the opportunity within the unpenetrated home services sector in India. 

Snabbit, a pioneer in this field, has grown to over 5,000 women in its workforce and has increased job volume significantly in months. 

Recently relocating its headquarters to Bengaluru, Snabbit seeks to leverage the city's tech talent and has expanded its leadership to enhance its operations in multiple markets across India.
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#OverNexus #startupnews #SnabbitFunding #SeriesCRound #ChildElderCare #CookingCareExpansion #InnovativeCareSolutions

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