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<ul><li><keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> and <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> have increased the <keyword id="20299300" type="General" weightage="100" keywordseo="platform-fee" source="keywords">platform fee</keyword> charged to users by 20%.</li><li>With this increase, the platform fee has increased from ₹5 to ₹6.</li><li>The platform fee charged is different from GST, delivery charges and restaurant charges applied on the platforms.</li></ul> Your food deliveries will get costlier as Zomato and Swiggy have started increasing the platform fee by 20%. The <keyword id="19922227" type="General" weightage="20" keywordseo="food-delivery-platforms" source="keywords">food delivery platforms</keyword> will now charge users ₹6 per order. Food delivery platforms Zomato and Swiggy introduced platform fees in 2023, which began at ₹2 per order. This was then increased to ₹3 and then to ₹5 in April 2024. <h2>Platform fee increases threefold</h2>In yet another increase, the two food delivery platforms have increased the platform fee to ₹6. This means that the platform fee has increased threefold in a year. The platform fee is different from other charges levied on orders such as GST, delivery charges and restaurant charges. Customers are required to pay this charge irrespective of any membership such as<a href="https://www.businessinsider.in/business/news/swiggy-cracks-down-on-password-sharing-allows-users-to-use-same-account-on-only-two-devices/articleshow/97548345.cms"> Swiggy One</a> or<a href="https://www.businessinsider.in/tech/apps/news/zomato-gold-re-launched-with-free-deliveries-vip-access-up-to-40-discount-on-dining-and-more/articleshow/97273088.cms"> Zomato Gold</a>. The increased platform fee is currently being tested in selected cities such as Delhi and Bengaluru. It is expected to be rolled out in a phased manner across all major cities. While an increase of ₹1 may seem insignificant to most people who place orders online, it adds up to a good source of revenue for Swiggy and Zomato which process lakhs of orders every day. Platforms such as Zomato and Swiggy aim to earn ₹1.25 to ₹1.5 crore per day through platform fees. <h2>Customers not happy</h2>Customers have not reacted positively to this news. Posts on platforms like X have criticised this move, calling for users to directly order from restaurants. <div type="twitter" handle="trippyankit" handlename="trippyankit" favoritecount="0" retweetcount="0" id="1812756936669921328"></div> The user highlighted that food prices are already comparatively higher on food delivery platforms. The difference in price is due to the commission paid by restaurants to Swiggy and Zomato, which usually ranges between 20 to 30%. <h2> Zomato share price surges</h2>Zomato’s share price increased by 3% to close at ₹229.10 on Monday after the company increased the platform fee. The company’s share price has increased by over 70% in the last six months, helping the company’s chief executive officer (CEO)<a href="https://www.businessinsider.in/stock-market/news/zomatos-deepinder-goyal-joins-elite-list-of-indian-billionaires/articleshow/111747793.cms"> Deepinder Goyal</a> become a billionaire. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9-lite-5g-with-90hz-display-5000mah-battery-launched-starting-at-10499/slidelist/111754545.cms">iQOO Z9 Lite 5G with 90Hz display, 5000mAh battery launched starting at ₹10,499</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-6-5-in-q2-2024-xiaomi-records-highest-growth/articleshow/111749023.cms">Global smartphone shipments grow 6.5% in Q2 2024, Xiaomi records highest growth</a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-four-ipos-to-hit-the-street-this-week/articleshow/111745283.cms">IPOs this week – four IPOs to hit the street this week</a>

Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier

<ul> <li>Demat account, trading application and UPI ID are mandatory if you are applying for an initial public offering (IPO).</li><li>Upcoming IPO of Zomato can also be applied before its IPO opening date.</li><li>There is already a lot of buzz around Zomato's ₹9,375 crore IPO.</li></ul>2021 seems to be a year of the initial public offerings (IPOs) with back to back listings happening almost every week. So far this year, 32 IPOs have been listed, according to BSE data. Presently, the upcoming IPO that has created a lot of buzz is Zomato, a food delivery startup that is currently valued at around $8.1 billion. Many of you may want to subscribe to Zomato’s IPO for one common reason that most of us have seen its growth journey very closely over the years. <div type="Article" hostid="261" msid="78290664" title="Best inverters for home use in India" mstype="2" mssubtype="0"></div> An IPO is the first sale of shares by a private company looking to raise capital from investors and turn itself into a public company. To invest in an IPO, you need to apply to buy a ‘lot of shares’ from the market. The bidding for these IPOs is usually open for three days particularly during market hours. Now, let us understand how to invest in IPOs. A Demat account, a trading application like Zerodha, Angel Broking etc and UPI ID on BHIM app are necessary if you want to invest conveniently in an IPO. Unified payment interface (UPI) is a banking system for money transfers on payment apps like Google Pay, PhonePe and so on. One of the simplest ways to track IPOs and invest in them is through trading platforms. Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities. <ul><li>Login to the mobile app and select the IPO option under console. If you’re logging in through desktop, then go to console -- portfolio -- IPO.</li><li>You will find a list of IPOs that are open for investment. Select the IPO you want to invest in.</li><li>Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account. </li><li>Select investor type for your application. </li><li>Enter the lot size (number of shares required to buy in one lot) announced by the company.</li><li>Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price.</li><li>Retail investors can bid for three lots. </li><li>After this step, click on the check box to confirm and submit.</li><li>The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment. </li><li>Now wait till the allotment date of shares to see if you have received the lot size you bid for.</li></ul>Meanwhile you can also invest in Zomato’s pre application offer through Paytm Money Paytm Money has for the first time allowed users to apply for an IPO before the actual IPO opening. This feature is built to help a large proportion of investors who do not trade actively and may miss out during market hours. Basically, a retail investor can plan an IPO order 24x7 on days when a pre-open IPO is enabled. Pre-IPO feature is currently live on Paytm Money’s mobile app. The process to apply in a pre IPO is similar to that of other trading platforms. You just need to fill your investor details, lot size and accept the mandate on BHIM app. Another way to invest is through your bank. This option is generally available between 5 a.m. and 11 a.m. on the bank’s website. Here’s how to do it: <ul><li>Log in to your bank’s net banking account. </li><li>Go to the investment section and select the IPO option.</li><li>Fill your investment and bank account details to complete the verification process.</li><li>Later select the IPO you want to apply.</li><li>Enter the number of shares and bid price.</li><li>Read and accept ‘terms and conditions’ documents. </li><li>Submit your application.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">Flipkart raises $3.6 billion at a valuation of over $37 billion (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation | Business Insider India</a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a>

Zomato IPO: Here’s how to apply via banks and apps like Zerodha, Paytm Money

<ul><li>The company is likely to announce its share allotment status on July 14</li><li>The IPO of the speciality chemical manufacturer was subscribed 95.54 times on the last day of bidding</li><li>Investors have bid for 114.92 crore shares against the 1.23 crore shares on offer.</li></ul>Pune-based speciality chemical manufacturer Clean Science and Technology is likely to announce the allotment of its initial public offering (IPO) status on July 14. The IPO was open for subscription between July 7 and July 9. The company is looking to raise ₹1,546 crore through the IPO. The entire ₹1,546 crore share sale ⁠— priced at ₹880-900 apiece⁠ was from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). The IPO has received a blockbuster response from investors, especially from qualified institutional buyers and non-institutional investors as investors have bid for 114.92 crore shares against the 1.23 crore shares on offer. The portion for qualified institutional investors was subscribed 159.93 times while the non-institutional investor category received a bid for 211.12 times. In an interview with Business Insider ahead of the IPO, the company’s promoter and wholetime director of the company, Siddhartha Ashok Sikchi, shared how the company holds enough cash in hand and is not looking to raise any primary capital. Here is how to check <keyword id="11626687" type="UNKNOWN" weightage="20" keywordseo="clean-science-and-technology-ipo-allotment">Clean Science and technology IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Clean Science and Technology.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on 'Clean Science and Technology’. </li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-apply-for-zomato-ipo/articleshow/84365964.cms">Zomato IPO: Here’s how to apply via banks and apps like Zerodha, Paytm Money | Business Insider India</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-swiggy-deals-gets-cci-approval-two-days-before-zomato-ipo/articleshow/84347306.cms">SoftBank-Swiggy deal gets CCI approval, two days before Zomato IPO | Business Insider India</a>

Clean Science and Technology IPO - How to check allotment status, listing date and more

The Indian stock market rose on Monday morning with the BSE <keyword id="6484188" type="DEFINITION" weightage="20" keywordseo="sensex">Sensex</keyword> gaining over 200 points. Rise in the shares of index-heavyweights <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> and ICICI Bank lifted the index. Around 10.15 a.m., Sensex was trading at 52,631.44, higher by 245.25 points or 0.47 per cent from its previous close of 52,386.19. It opened at 52,634.33 and has touched an intra-day high of 52,685.90 and a low of 52,568.92 points. The top gainers on the Sensex were <keyword id="6355596" type="COMPANY" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword>, ICICI Bank and Maruti Suzuki India, while the major losers were Bajaj Finserv, Bharti Airtel and Hindustan Unilever. The Nifty50 on the <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was trading at 15,760.65, higher by 70.85 points or 0.45 per cent from its previous close. Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> has bounced from Friday's low and is once again trading around the midpoint of the range which is 15,400-15,900. If we can scale higher and get past 15,900, we should be able to achieve 16,100. Until then trading is going to be lackluster with tepid volumes." SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/paytm-money-users-can-now-apply-for-zomato-ipo-from-today/articleshow/84334784.cms">Paytm Money now allows investors to apply for an IPO before opening, Zomato being the first</a> <a href="https://www.businessinsider.in/careers/news/nirvaan-birlas-edtech-startup-birla-brainiacs-plans-to-hire-1500-teachers/articleshow/84315576.cms">Nirvaan Birla’s edtech startup Birla Brainiacs plans to raise up to $10 million, to hire 1500 teachers in the next two years</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-ecommerce-website-is-down-as-the-company-is-hit-by-a-massive-outage/articleshow/84335580.cms">Amazon India product pages are down across the website as buyers begin their Monday morning shopping</a>

Sensex surges by 245 points, Nifty trading at 15,760 — UltraTech Cement, ICICI Bank and Maruti Suzuki India top gainers

The notification for the clerical examination was released by the <keyword id="6392442" type="ORGANIZATION" weightage="20" keywordseo="institute-of-banking-personnel-selection">Institute of Banking Personnel Selection</keyword> (<keyword id="460374" type="ORGANIZATION" weightage="20" keywordseo="IBPS">IBPS</keyword>) with 5830 vacancies. This examination is conducted on a national level. The notification was released on July 11, 2021 and the online application date starts from July 12, 2021. How to apply online To apply online the candidates must have their valid marksheet and degree certificate along with their final percentage details <ul><li>You can start your online registration process by visiting the IBPS website <a href="https://www.ibps.in/">here</a> </li></ul><ul><li>When you click on the notification reading “Online registration for IBPS clerk 2021”, a new page asking for your registration credentials will open. </li></ul><ul><li>Give in your personal details to complete the registration process. </li></ul><ul><li>After clicking the submit button you will receive an email with your ID and password. </li></ul><ul><li>Login using the same ID and password you received from registering on the website. </li></ul><ul><li>The next step is to fill in the application form with all the details and documents along with your photo and signature. </li></ul><ul><li>Before clicking submit, pay the application fee (₹175 for <keyword id="11619405" type="UNKNOWN" weightage="20" keywordseo="sc/st/pwd-category">SC/ST/PWD Category</keyword> and ₹850 for General and other Category ) </li></ul><ul><li>Click on submit and then save or download the application form for future reference. </li></ul>Candidates must complete the online application process before the last date which is Aug 1, 2021. Only a completed form will be accepted and taken into consideration for the next process. The mentioned exam dates in the notification are August 28, 29, 2021 and September 04, 05, 2021. SEE ALSO- <a href="https://www.businessinsider.in/business/startups/news/paytm-money-users-can-now-apply-for-zomato-ipo-from-today/articleshow/84334784.cms" data-type="tilCustomLink">Paytm Money now allows investors to apply for an IPO before opening, Zomato being the first</a> <a href="https://www.businessinsider.in/business/auto/news/hero-electric-raises-220-crore-to-sell-over-a-million-electric-scooters-a-year/articleshow/84335696.cms" data-type="tilCustomLink">Hero Electric raises ₹220 crore to sell over a million electric scooters a year</a>

IBPS clerk 2021 examination: how to register, important dates and more

New Delhi, <keyword id="4742614" type="COMPANY" weightage="20" keywordseo="ministry-of-housing-and-urban-affairs">Ministry of Housing and Urban Affairs</keyword> (MoHUA) has joined hands with <keyword id="830092" type="LOCATION" weightage="20" keywordseo="Zomato">Zomato</keyword> for home delivery of <keyword id="6361952" type="UNKNOWN" weightage="20" keywordseo="Street-Food">street food</keyword> in six cities. As a part of Prime Minister <keyword id="456744" type="PERSON" weightage="20" keywordseo="street-vendor">Street Vendor</keyword>'s AtmaNibhar Nidhi (PM SVANidhi) Scheme, the MoHUA entered into MoU with Zomato, to bring <keyword id="6770639" type="COMPANY" weightage="20" keywordseo="street-food-vendors">street food vendors</keyword> on its food-tech platform. In a statement MoHUA said that initially MoHUA and Zomato will run a pilot program by on-boarding 300 vendors across six cities namely - Bhopal, Ludhiana, Nagpur, Patna, Raipur, Vadodara. "The street vendors will be helped with PAN and fssai registration, training on technology/ partner app usage, menu digitization and pricing, hygiene and packaging best practices. Upon the successful completion of the pilot, MoHUA and Zomato plan to expand this initiative across the country in phases," it said. As per the MoHUA, this will give street food vendors online access to thousands of consumers and help these vendors grow their businesses. The MoHUA also launched the Mobile Application for PMSVANidhi se Samriddhi- Socio-economic profiling of PM SVANidhi beneficiaries and their families to link them to various Central government Schemes. "Covid-19 pandemic has restricted consumers from stepping out and forced them to follow physical distancing norms. In the given scenario it is important to connect Street Food Vendors with technology-enabled platforms to help them grow their business, thus helping them gain financially," said the ministry. In a first of its kind initiative, MoHUA entered into an MoU with Swiggy on October 5 last year and it is now joining hands with Zomato to empower street food vendors with digital technology. The MoHUA has coordinated with the key stakeholders including <keyword id="6414396" type="COMPANY" weightage="20" keywordseo="municipal-corporations">Municipal Corporations</keyword>, fssai, Zomato and GST officials to ensure that street food vendors are facilitated in completing the necessary prerequisites for this initiative. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a>

Zomato joins hands with the Indian government to deliver street food in Bhopal, Ludhiana, Nagpur, Patna, Raipur, and Vadodara

Top star <keyword id="14509" type="PERSON" weightage="20" keywordseo="Rajinikanth">Rajinikanth</keyword> on Monday said he would consult his <keyword id="6124611" type="UNKNOWN" weightage="20" keywordseo="Rajini-Makkal-Mandram">Rajini Makkal Mandram</keyword> functionaries on whether or not to join politics in future, six months after he opted out of politics. Indicating a fresh start to the topic of if or not he would enter politics, that was debated for over two decades in Tamil Nadu, the actor said 'questions' lingered among the <keyword id="11619536" type="UNKNOWN" weightage="20" keywordseo="mandram-functionaries">Mandram functionaries</keyword> on the forum's future. RMM was previously considered a launch vehicle for the actor's <keyword id="4135100" type="PERSON" weightage="20" keywordseo="political-entry">political entry</keyword>. However, last December the actor said he would not join politics and had cited factors like his health condition, him undergoing kidney transplant in 2016. The actor, who returned from America days ago after a health check-up told reporters: "Should the Makkal <keyword id="1321676" type="PERSON" weightage="20" keywordseo="Mandram">Mandram</keyword> be continued and if so, what will be its functions and these are questions among the functionaries and fans. "There are also questions as to whether or not I am going to come to politics in future," he said, adding he would consult Mandram functionaries and then spell out the outcome of the deliberations. On 3 December, 2020, the actor had said that he would launch his party in January 2021 ahead of the <keyword id="6354702" type="ORGANIZATION" weightage="20" keywordseo="assembly">Assembly</keyword> elections. However, during the last week of December last year, he did a u-turn and announced that he would not join politics. Since then, several functionaries had joined <keyword id="89160" type="PERSON" weightage="20" keywordseo="political-parties">political parties</keyword> including the <keyword id="6357766" type="ORGANIZATION" weightage="20" keywordseo="dmk">DMK</keyword>. SEE ALSO- <a href="https://www.businessinsider.in/business/startups/news/paytm-money-users-can-now-apply-for-zomato-ipo-from-today/articleshow/84334784.cms" style="">Paytm Money now allows investors to apply for an IPO before opening, Zomato being the first</a> <a href="https://www.businessinsider.in/business/auto/news/hero-electric-raises-220-crore-to-sell-over-a-million-electric-scooters-a-year/articleshow/84335696.cms">Hero Electric raises ₹220 crore to sell over a million electric scooters a year</a>

Actor Rajinikanth to reconsider political entry, to talk to members of Rajini Makkal Mandram

The <keyword id="6356255" type="ORGANIZATION" weightage="20" keywordseo="us-food-and-drug-administration">US Food and Drug Administration</keyword> (FDA) added a new warning on the <keyword id="92247" type="COMPANY" weightage="20" keywordseo="Johnson-Johnson">Johnson &amp; Johnson</keyword> Covid-19 vaccine, saying the jab has been linked to a serious but rare side effect called Guillain-Barre syndrome. <keyword id="11626642" type="UNKNOWN" weightage="20" keywordseo="guillain-barre">Guillain Barre</keyword> syndrome is a neurological disorder in which the body's immune system damages nerve cells, causing muscle weakness and sometimes paralysis, Xinhua news agency reported citing the FDA as saying. The syndrome has occurred in some people who have received the Johnson &amp; Johnson vaccine, the FDA in a letter on Monday. In most of these people, symptoms began within 42 days following injections of the vaccine, it added. The chance of having this occur is very low, the agency said. About 100 preliminary reports of Guillain-Barre syndrome have been detected in vaccine recipients after the administration of 12.8 million doses of the <keyword id="11626641" type="UNKNOWN" weightage="20" keywordseo="johnson-johnson-jab">Johnson &amp; Johnson jab</keyword> in the US, The <keyword id="79961" type="COMPANY" weightage="20" keywordseo="Washington-Post">Washington Post</keyword> quoted the Centers for Disease Control and Prevention (CDC) as saying in a statement. Of these reports, 95 were serious and required hospitalization, and one had dead. The cases have largely been reported about two weeks after vaccination and mostly in men, many aged 50 and older, according to the CDC. Johnson &amp; Johnson said on Monday it has been in discussions with the FDA and other regulators about rare cases of Guillain-Barre syndrome. The chance of having this occur is very low, and the rate of reported cases exceeds the background rate by a small degree, the company said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/paytm-money-users-can-now-apply-for-zomato-ipo-from-today/articleshow/84334784.cms">Paytm Money now allows investors to apply for an IPO before opening, Zomato being the first</a> <a href="https://www.businessinsider.in/careers/news/nirvaan-birlas-edtech-startup-birla-brainiacs-plans-to-hire-1500-teachers/articleshow/84315576.cms">Nirvaan Birla’s edtech startup Birla Brainiacs plans to raise up to $10 million, to hire 1500 teachers in the next two years</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-ecommerce-website-is-down-as-the-company-is-hit-by-a-massive-outage/articleshow/84335580.cms">Amazon India product pages are down across the website as buyers begin their Monday morning shopping</a>

US FDA adds new warning on Johnson & Johnson COVID-19 vaccine related to rare neurological disorder called Guillain-Barre syndrome

<ul><li>The Series B round was led by Gulf Islamic Investments (GII), with participation from <keyword id="1326310" type="ORGANIZATION" weightage="20" keywordseo="Oaks">OAKS</keyword>.</li><li>The company had last raised ₹160 crore from Mumbai-based Alpha Ventures in December 2018.</li><li><keyword id="195740" type="COMPANY" weightage="20" keywordseo="Hero-Electric">Hero Electric</keyword> said it will use this funding to expand production capacity.</li></ul>Electric vehicle (EV) manufacturer Hero Electric, which focuses on two-wheelers, has raised ₹220 crore ($29 million) in its Series B funding round led by Gulf Islamic Investments (GII). Existing investor OAKS also participated in this round. Talking about this fundraise, Hero Electric’s managing director <keyword id="195739" type="PERSON" weightage="20" keywordseo="Naveen-Munjal">Naveen Munjal</keyword> said that the company aims to sell over one million units annually over the next couple of years. He also noted that the EV market has undergone tremendous change over the last couple of years, especially due to policies being more conducive for growth in the segment. E-mobility is poised to grow at over two times from the last fiscal year (FY20), Munjal added. Hero Electric had last raised ₹160 crore ($21 million, at current conversion rate) funding from Mumbai-based Alpha Capital in December 2018. This was the company’s maiden fundraise and was raised to build its second factory. A part of the capital was also used to develop new products and expand its dealership network. The capital raised in the latest Series B round, the company said, will be used towards expanding production capacity, consolidating market position to strengthen market leadership, investing in technology and growing footprint across India like markets. The electric two-wheeler maker will also focus on India-centric, flexible and cost-effective innovation. The Gurugram-based company also plans to make significant additions to its manufacturing capacity to achieve the target of 1 million sales annually. It will also set up multiple plants over the next couple of years. Hero Electric has specified that it will invest at least ₹700 crore to raise annual production capacity to more than 1 million units over the next four years. Currently, its plants manufacture 75,000 units per year. These new capacities will come up at two or three locations, of which one will be located closer to a port for easy export. “This round of investments which is a first of a larger scheme will help expand our manufacturing capacities, increase R&amp;D [research and development] spends that will enable us to continue to launch innovative products to disrupt the category,” Munjal added. Hero Electric is owned by Naveen Munjal, a relative of the <keyword id="11618761" type="UNKNOWN" weightage="20" keywordseo="munjals-of-hero-motocorp">Munjals of Hero MotoCorp</keyword>. The company has no business association with the publicly listed company Hero MotoCorp. Hero MotoCorp is an investor in another EV company Ather, which was founded by Tarun Mehta and Swapnil Jain in 2013. It has been aggressive about its operations as well and closed a $260 million Series D round in November 2020. SEE MORE <a href="https://www.businessinsider.in/business/startups/news/paytm-money-users-can-now-apply-for-zomato-ipo-from-today/articleshow/84334784.cms">Paytm Money now allows investors to apply for an IPO before opening, Zomato being the first</a> <a href="https://www.businessinsider.in/tech/news/sonys-televisions-will-soon-be-100-robot-made-according-to-a-report/articleshow/84320631.cms">Sony's televisions will soon be 100% robot-made, according to a report</a> <a href="https://www.businessinsider.in/tech/news/zomato-sets-a-reward-of-up-to-3-lakh-for-finding-bugs-in-its-apps-and-website/articleshow/84268126.cms">Zomato sets a bounty of nearly ₹3 lakh for finding bugs in its apps and website</a>

Hero Electric raises ₹220 crore to sell over a million electric scooters a year

New Delhi, Hyderabad-based <keyword id="149108" type="PERSON" weightage="20" keywordseo="Bharat-Biotech">Bharat Biotech</keyword> will make a presentation before the <keyword id="3923779" type="COMPANY" weightage="20" keywordseo="subject-expert-committee">Subject Expert Committee</keyword> of the Central Drug Standard Control Organisation (CDSCO) on Wednesday evening for approval of its <keyword id="24209" type="PERSON" weightage="20" keywordseo="vaccine">vaccine</keyword> - Covaxin, government sources. Earlier on Wednesday, the <keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII)'s application for emergency use authorisation of its Covid-19 vaccine was also considered by the Subject Expert Committee. The development came hours after the United Kingdom accepted the recommendation of the Medicines and Healthcare Regulatory Agency (MHRA) to authorise the Oxford University-AstraZeneca's Covid-19 vaccine, <keyword id="9617748" type="COMPANY" weightage="20" keywordseo="covishield">Covishield</keyword>, for emergency approval use. The authorisation was significant for India as the Pune-based Serum Institute of India had tied up with Oxford University-AstraZeneca to manufacture the vaccine in India. America's Pfizer was the first to apply on December 4, followed by Serum Institute of India and Bharat Biotech, who applied on December 6 and 7, respectively. Pfizer has, however, requested more time to make its presentation before the committee. On December 9, the Subject Expert Committee had, however, asked Serum Institute of India and Bharat Biotech to submit more data and information to get emergency use approval (EUA) for their vaccine candidates. The expert panel had then asked SII to submit the outcome of the assessment of UK-MHRA for grant of emergency use approval, the updated safety data of the Phase-II/III clinical trials and immunogenecity data from the clinical trial in the UK and India. Bharat Biotech was recommended to present the safety and efficacy data from the ongoing Phase-III clinical trial in the country for further consideration. Both the firms had again submitted their applications last week seeking approval of the vaccine. The Central government plans to vaccinate nearly 30 crore <keyword id="6360040" type="UNKNOWN" weightage="20" keywordseo="people">people</keyword> in the first phase of the vaccine drive. It would be offered to one crore healthcare workers, along with two crore frontline and essential workers and 27 crore elderly people, mostly above 50 years with comorbidities. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-sbi-hdfc-bank-wipro-ril-future-retail-tcs-jindal-stainless-upl-irctc-and-others/articleshow/80019871.cms">Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others</a> <a href="https://www.businessinsider.in/india/news/india-detects-14-new-cases-of-uk-covid-19-strain-putting-the-tally-at-20/articleshow/80020163.cms">India detects 14 new cases of UK COVID-19 strain, putting the tally at 20India detects 14 new cases of UK COVID-19 strain, putting the tally at 20</a> <a href="https://www.businessinsider.in/business/startups/news/2021-could-finally-be-the-year-of-indias-tech-ipos-as-startups-like-zomato-delhivery-policybazaar-head-for-the-public-markets/slidelist/80019978.cms">2021 could finally be the year of India’s tech IPOs as startups like Zomato, Delhivery, Policybazaar head for the public markets</a>

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