Flipkart, owned by Walmart, is preparing to enter India's movie and concert ticketing market, targeting a May launch according to sources. The move puts the e-commerce platform in direct competition with BookMyShow, the dominant incumbent, and Zomato's District, which entered the space more recently. India's live events sector has expanded sharply, making ticketing an increasingly contested distribution layer. Flipkart's existing user base and payments infrastructure give it a structural on-ramp, but converting browsing customers into ticketing regulars requires habitual engagement that pure e-commerce platforms historically struggle to generate. The company is also piloting food delivery, suggesting a deliberate push into high-frequency, low-margin verticals designed to increase app stickiness and daily active usage. Both moves carry thin-margin economics but serve the same strategic logic: deepening the consumer relationship beyond periodic shopping. Watch whether Flipkart subsidizes early ticket inventory to drive adoption and how BookMyShow and Zomato respond on pricing and exclusivity deals with event organizers.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
