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Coimbatore AI startup gives ₹14 crore bonus to employees

Inshorts · 6m ago

Coimbatore AI startup gives ₹14 crore bonus to employees

AI startup Kovai.co is distributing a $1.62-million (over ₹14 crore) bonus to around 140 employees. "Three years ago I told my employees - stay with us for three years and I'll give you six months of your salary as a bonus," Founder Saravana Kumar said. The London-headquartered startup, with a development centre in Tamil Nadu's Coimbatore, provides business-to-business SaaS solutions.

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The Verge

The Verge · 11h ago

OpenAI gives some employees a ‘special’ multimillion-dollar bonus

OpenAI CEO Sam Altman announced a special multimillion-dollar bonus for some employees due to the competitive AI talent market. The bonuses target researchers and engineers in specific teams and vary based on role and seniority. Top researchers could receive mid-single-digit million payouts, while engineers may get hundreds of thousands on average. Around 1,000 employees qualify for this bonus, which can be received in cash, stock, or both, distributed quarterly over two years.

Flipkart To Give Pay Hikes In Two Tranches

Inc42 · 1y ago

Flipkart To Give Pay Hikes In Two Tranches

Flipkart, the Indian e-commerce giant, has adjusted its increment policy for employees by providing merit-linked payouts in two installments instead of the usual salary hikes. The eligible employees will receive two lump sums equivalent to their annual salary hike. In addition, Flipkart plans to allocate stock options and provide merit-linked payments and bonus payouts to those getting promoted. The one-time change will affect mid-management employees and below, and it is estimated to impact around 19,000 to 20,000 employees. Flipkart will also offer a 100% bonus to its entire workforce.

Ashok Leyland Jumps 3.5% on Bonus Issue Buzz, Earnings Due May 23

OutlookIndia

OutlookIndia · 2m ago

Ashok Leyland Jumps 3.5% on Bonus Issue Buzz, Earnings Due May 23

Ashok Leyland shares increased by 3.5% amid news that the board will consider a bonus share issue alongside its quarterly earnings announcement on May 23. A bonus issue can reward shareholders and increase their holdings without cash dividends, thus retaining capital for future growth. The company declared a dividend of Rs 6.25 per share in FY25. This potential bonus issue would be the first in 14 years. The stock is 30% higher than its 52-week low.

EaseMyTrip Board Approves 1:1 Bonus Share Issue

Inc42 · 9m ago

EaseMyTrip Board Approves 1:1 Bonus Share Issue

Travel company EaseMyTrip has announced that it will issue one bonus equity share for every one fully paid-up equity share. The company estimates that it will need INR 177.20 crore in funds to implement this bonus share issuance. As of March 31, 2024, EaseMyTrip has a balance of INR 397.4 crore available in its free reserve and share premium account. Shareholders can expect to receive the bonus shares in their demat accounts on or before December 12, 2024.

Flipkart modifies increment process with merit-linked hikes for employees

IndianStartupNews

IndianStartupNews · 1y ago

Flipkart modifies increment process with merit-linked hikes for employees

Ecommerce company Flipkart has introduced a new salary increment policy aimed at reducing employee attrition, particularly among senior staff. The new system involves dividing salary increments into two parts, with one part paid in April and the other later in the year. Merit-linked payouts will also be awarded to eligible employees in junior and mid-management positions, replacing the traditional annual salary hike. Flipkart has also enhanced its bonus scheme, offering a 100% bonus payout to employees. The company will continue its Employee Stock Ownership Plan allocation.

Gold loan startup Oro Money raises $12.5 Mn in new round

Entrackr

Entrackr · 1y ago

Gold loan startup Oro Money raises $12.5 Mn in new round

Chennai-based gold loan platform Oro Money has raised approximately $12.5 million in a new funding round. The startup issued preference shares to raise Rs 105 crore, with new investors Singularity Ventures and Three State Capital contributing Rs 28 crore and 16 crore respectively. Existing investors PI Opportunities Fund and 021 Capital also participated, along with individual investors Mithun Sacheti and Siddhartha Sacheti. Oro Money, which offers gold loans at an interest rate of 9.48%, plans to expand to Coimbatore and Delhi. It competes with firms such as Indiagold, Ruptok, and Rupeek.

Former Employees Ask BYJU’S To Pay INR 2.3 Cr Salary Dues Or Face Insolvency Proceedings

Inc42 · 1y ago

Former Employees Ask BYJU’S To Pay INR 2.3 Cr Salary Dues Or Face Insolvency Proceedings

Bengaluru-based law firm Canvas Legal has issued a demand notice of over INR 2.3 Cr on behalf of 62 former employees of BYJU'S. The notice gives BYJU'S 10 days to respond, after which the employees plan to file an insolvency petition with the NCLT. Around 1,500 former employees have come together to demand their dues from BYJU'S.

Morgan Stanley's bonus payouts for star Asia bankers to jump by up to 50%

VCCircle

VCCircle · 6m ago

Morgan Stanley's bonus payouts for star Asia bankers to jump by up to 50%

Morgan Stanley is set to increase bonus payouts for its top-performing investment bankers and traders in Asia by up to 50%. This decision follows a strong performance under its new CEO Ted Pick, driven by robust business growth and increased trading activities in the Asia Pacific region. The bonus hike aims to retain key dealmakers amid past layoffs, with notable increases for those handling deals in India and Australia. Last year, many senior employees saw reduced or no bonuses.

EaseMyTrip To Consider Bonus Issue Amid Slump In Share Price

Inc42 · 10m ago

EaseMyTrip To Consider Bonus Issue Amid Slump In Share Price

- EaseMyTrip's board of directors to meet on Monday to discuss and approve the issuance of bonus shares. - This will be the third time the travel tech startup is issuing bonus shares, after having done so twice in 2022. - EaseMyTrip's share prices recently reached a 52-week low of INR 31.10 during intraday trading on October 7.

Startup news and updates: Daily roundup (June 24, 2025)

YourStory

YourStory · 1m ago

Startup news and updates: Daily roundup (June 24, 2025)

YourStory's June 24, 2025, startup news roundup highlights key industry developments. Notably, Darwinbox completed a ₹86 crore ESOP buyback, impacting over 350 employees globally. Nykaa allotted ₹10.33 crore worth of equity shares to employees under its ESOP scheme. Google introduced its advanced AI Mode search in India. Furthermore, funding highlights include GoKwik securing $13M, Fabheads raising $10M led by Accel, and Kruu receiving bridge funding, expanding operations and strengthening positions in their respective markets.

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