Vaaree Secures ₹65 Crore Series A to Scale AI‑Powered Home Styling and Fulfilment

• The fresh capital will be used to expand Vaaree's fulfilment network, accelerate investments in its advanced AI-powered discovery experiences, including VibeCheck.

Vaaree, India’s curated marketplace for home décor and furnishings, has raised ₹65 crore in a Series A funding round led by Hero Enterprise and Cap Alpha Ventures.

Vaaree’s previous investors also include Peak XV’s Surge, PeerCapital, All In Capital, Better Capital, OTP Ventures and Kunal Shah among other investors.

The fresh capital will be used to expand Vaaree’s fulfilment network, enable faster deliveries and strengthen its AI-led styling and discovery technology, including VibeCheck, its proprietary home-styling experience.

Founders - Garima Luthra, and Varun Vohra

Vaaree was founded with a simple belief: Indian customers should not have to choose between quality, variety and accessibility while shopping for their homes.

Unlike crowded marketplaces built around endless listings, Vaaree follows a “curated, not crowded” approach. The company works only with carefully selected export-grade manufacturers and brands whose products meet its standards across quality, design and reliability. Vaaree partners with only around 3 out of every 100 brands/manufacturers that apply to them, to maintain quality and conducts stringent quality checks before taking any seller live

The platform offers products across home décor, furnishings, bed and bath, kitchen and lighting- from thoughtfully made products by Indian manufacturers to a growing selection from premium and global luxe brands for Indian consumers.

But Vaaree’s ambition goes beyond making quality products available online. The company is building technology to solve one of the biggest challenges in the category: helping customers understand what will look good together inside their homes.

Through VibeCheck, customers are able to discover products based on their personal style, create coordinated looks and moodboards, visualise how different products work together, and move from buying individual items to styling complete spaces.

Instead of expecting customers to scroll through thousands of unrelated products, VibeCheck is being built to understand their taste, room, colour preferences and styling intent- and translate that into personalised, shoppable recommendations.

“The problem in home category is not a lack of products. It is the lack of confidence customers feel while putting a space together,” said Varun Vohra Co-founder, Vaaree. “Most people know how they want their home to feel, but translating that into the right products is difficult. With VibeCheck, we want to give every Indian access to a personal home stylist, one that understands their taste, helps them visualise complete spaces and makes every recommendation instantly shoppable.”

“This funding allows us to strengthen both sides of that experience: technology that makes home styling simpler and fulfilment infrastructure that gets those products to customers faster.”

Vaaree’s model is also helping manufacturers and brands build sustainable, quality-led growth. By combining curation, merchandising, content, technology and fulfilment support, the platform enables deserving partners to reach relevant customers and scale without compromising their product or brand experience.

The company believes its AI-led discovery engine will also help high-quality manufacturers and brands get matched with the right customer, rather than competing solely for visibility in an overcrowded catalogue or diluting quality standards to lower prices.

“Vaaree is addressing a large and highly fragmented market with a differentiated, technology-led platform. I have always believed in the exceptional craftsmanship and artistic heritage of Indian artisans, and Vaaree is helping bring that excellence to consumers at scale. The company has built a world-class supply chain and a robust quality assurance framework, while leveraging technology to curate its product assortment, personalize the customer experience, and simplify what is often an overwhelming home styling journey. We are delighted to partner with Garima, Varun, and the entire Vaaree team as they build a trusted, category-defining destination for home and décor”, said Sunil Kant Munjal, Chairman Hero Enterprise.

“Vaaree is creating value on both sides of the platform - helping customers make better styling decisions while enabling strong manufacturers and brands to build quality growth. We look forward to supporting the company as it scales its technology and fulfilment capabilities”, said Himanshu Kohli, Managing Partner, Cap Alpha Ventures.

Use of Funds

AI-powered home styling and discovery

The company will deepen its investment in VibeCheck, its AI-powered styling platform designed to make shopping for the home more personalised, visual and intuitive.

VibeCheck will help customers:

• Discover their personal home style
• Create moodboards and coordinated room looks
• Find products that complement what they already own
• Visualise combinations across furniture, décor, furnishings and lighting
• Shop complete, personalised looks rather than isolated products

Over time, Vaaree aims to build VibeCheck into an intelligent styling companion that learns from customers’ preferences and helps them design every corner of their home.

Faster fulfilment

Vaaree will expand its fulfilment and quality-verification centres across key markets, bringing inventory closer to customers and reducing delivery timelines.

The expansion will enable stronger quality control, improve product availability and help the company move towards next-day and faster deliveries across major Indian cities.

Vaaree had earlier outlined its vision of combining AI-powered styling with an expanded Fulfilment and Quality Verification network to make home shopping faster and more intuitive.

About Vaaree

Founded in Bengaluru in 2022, Vaaree is India's largest curated marketplace for home décor and furnishings, offering more than 1,50,000 products across décor, furnishings, bed and bath, kitchen, lighting and other home categories.

The company partners with carefully selected Indian manufacturers, export-focused factories, emerging brands and established premium and luxury labels to bring thoughtfully designed, high-quality products to Indian consumers.

Vaaree is backed by Sunil Kant Munjal Chairman, Hero Enterprise and his daughter Shefali Munjal who are also the Founders of Serendipity Arts Foundation, recognized as South Asia’s largest multidisciplinary arts festival, Cap Alpha Ventures, Peak XV’s Surge, PeerCapital, All In Capital, Better Capital, OTP Ventures and Kunal Shah, among other investors.

Combining quality-led curation, AI-powered discovery and an expanding fulfilment network, Vaaree is building a trusted destination that makes it easier for every Indian to discover, style and create a home that feels uniquely theirs.

Dhoot Transmission Limited’s IPO to Open on Monday, August 10, 2026

Price Band fixed at ₹ 829 per equity share of face value ₹2 each to ₹871 per equity share of the face value of ₹2 each (“Equity Shares”) of Dhoot Transmission Limited (the “Company”)

Anchor Investor Bidding Date – Friday, August 07, 2026

Bid /Offer Opening Date – Monday, August 10, 2026, and Bid/ Offer Closing Date – Wednesday, August 12, 2026

Bids can be made for a minimum of 17 Equity Shares of face value Rs 2 each and in multiples of 17 Equity Shares thereafter

Red Herring Prospectus (“RHP”) link:RHP Document

Dhoot Transmission Limited (the “Company”) proposes to open the initial public offering (“Offer”) of its equity shares of face value ₹2 each (“Equity Shares”) on Monday, August 10, 2026. The Anchor Investor Bidding Date is a Working Day prior to Bid/Offer Opening Date, being Friday, August 07, 2026. The Bid/Offer Closing Date is Wednesday, August 12, 2026.

The Price Band of the Offer has been fixed from ₹ 829 per Equity Share of face value ₹2 each to ₹ 871 per Equity Share of face value of ₹2 each. Bids can be made for a minimum of 17 Equity Shares of face value ₹2 each and multiples of 17 Equity Shares of face value ₹2 each thereafter. The Floor price and the Cap Price are 414.50 times and 435.50 times the face value of the equity shares, respectively. The Price to Earnings ratio (“P/E”) based on diluted EPS for Fiscal 2026 for our company at the lower end of the price band (i.e. floor price) is 33.98 times and at the upper end of the price band (i.e. cap price) is 35.70 times as compared to the average industry peer group P/E Ratio of 55.31 times. A discount of ₹80 per equity share is being offered to eligible employees bidding in the employee reservation portion. The weighted average return on net worth for last three fiscal years is 27.06%.

The Offer comprises a fresh issue of Equity Shares aggregating up to ₹1400 Crores (the “Fresh Issue”) and an Offer for Sale of up to 1,91,37,602 Equity Shares by certain existing shareholders including up to 16,018,769 Equity Shares of face value ₹2 each by BC Asia Investments XV Limited (“Promoter Selling Shareholder”) and up to 3,118,833 Equity Shares of face value ₹ 2 each by Mangalam Capital Private Limited (formerly known as Mangalam Coils Private Limited) (“Promoter Group Selling Shareholder”, together with Promoter Selling Shareholder, the “Selling Shareholders”).

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company, in consultation with the Book Running Lead Managers may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which 33.33% shall be reserved for domestic Mutual Funds and 6.67% shall be reserved for Life Insurance Companies and Pension Funds, subject to valid Bids being received from domestic Mutual Funds, Life Insurance Companies and Pension Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (“Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to all QIBs.

Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. One-third of the Non-Institutional Portion shall be available for allocation to Non-institutional Bidders with a Bid size of more than ₹0.20 million and up to ₹1.00 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ₹1.00 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees Bidding in the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Banks under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares are proposed to be listed on BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). For the Offer, NSE shall be the Designated Stock Exchange.

Axis Capital Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited and 360 ONE WAM Limited are the Book Running Lead Managers.

Disclaimer

DHOOT TRANSMISSION LIMITED, is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP dated August 3,2026 with the RoC. The RHP and Abridged Prospectus shall be available on the website of SEBI at www.sebi.gov.in, as well as on the websites of the Stock Exchanges i.e. BSE and NSE, respectively, on the website of the Company at www.dhoottransmission.com and on the websites of the BRLMs, i.e. Axis Capital Limited, Jefferies, Kotak Mahindra Capital, Nomura, SBI Capital Markets and 360 ONE WAM Limited.

Any potential Bidders should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” on page 24 of the RHP. Potential Bidders should not rely on the UDRHP-I filed with SEBI and the Stock Exchanges for making any investment decision and should instead rely on the RHP, when filed, for making an investment decision.

The Equity Shares offered in the Offer have not been and

Schneider Electric and BRPL Launch India’s First SF6‑Free Smart Grid Pilot

• Schneider Electric and BSES Rajdhani (BRPL) Partner to Deploy India’s First Sustainable Pure Air RMU Pilot Project

Schneider Electric, a global energy technology leader, has partnered with BSES Rajdhani Power Limited (BRPL) to deploy India’s first RM AirSeT 12kV Indoor Ring Main Unit (RMU) pilot integrated with T300 Field Remote Terminal Unit (FRTU), enabling a more sustainable, connected, and future-ready power distribution network. By eliminating the use of SF6 gas and replacing it with pure air insulation, the deployment enables an estimated reduction of nearly 75 tons of CO2 equivalent emissions during the capex phase alone, marking a significant step toward cleaner and environmentally responsible grid infrastructure.

As Delhi’s peak power demand is projected to cross 9,000 MW amid rising urbanisation and growing cooling requirements, utilities are increasingly focusing on smarter and more sustainable grid infrastructure to ensure reliable power supply and support future energy needs. BRPL has been evaluating innovative medium-voltage switchgear technologies that can reduce environmental impact while improving operational reliability and network visibility. Schneider Electric deployed its SF6-free RM AirSeT 12kV solution, designed using pure air technology as an alternative to conventional gas-insulated switchgear. The deployment was further integrated with Schneider Electric’s T300 FRTU, enabling remote monitoring and control through BRPL’s SCADA network.

Speaking on the development, Mr. Deepak Sharma, Zone President – Greater India, MD & CEO, Schneider Electric India, said, “India’s power sector is entering a new phase of transformation where sustainability must become an integral part of every infrastructure decision. As the country works towards its energy transition goals, it is important that environmental considerations are embedded across the entire electricity value chain, including transmission and distribution networks. The shift towards cleaner technologies will be critical in building a power ecosystem that can support growing demand while advancing the nation’s decarbonization ambitions. This collaboration with BRPL reflects the kind of forward-looking action that will help shape the future of India’s energy infrastructure.”

Mr. Udai Singh - MD & CEO, Schneider Electric Infrastructure Ltd and VP, Power Systems, Schneider Electric India said, “As India advances its energy transition journey, the focus must extend beyond expanding generation capacity to building distribution networks that are sustainable, resilient, and digitally enabled. Utilities will play a pivotal role in enabling this transformation by advancing energy technologies that strengthen grid reliability, reduce environmental impact, and accelerate the adoption of SF6-free infrastructure. Our collaboration with BRPL reflects a shared commitment to accelerating grid modernization and creating future-ready infrastructure that can support India’s evolving energy needs.”

The project marks a significant milestone for India’s utility sector. For the first time in the country, RM AirSeT 12kV Indoor RMUs were sourced from Schneider Electric’s SBMV global plant, while the FRTU integration was carried out at the company’s MVI plant in India. This enabled greater customization and flexibility in line with BRPL’s operational requirements. To support the deployment, Schneider Electric facilitated specialized training for Indian teams at its AMT Hungary plant to strengthen expertise in RM AirSeT technology and FRTU integration.

BRPL official, said, “At BRPL, we are continuously exploring technologies that strengthen network reliability while supporting our sustainability commitments. The deployment of Schneider Electric’s RM AirSeT solution with integrated FRTU is an important step in that direction. This pilot has given us valuable insight into how SF6-free and connected technologies can support the future evolution of distribution networks in India.”

The RM AirSeT 12kV solution integrated with T300 FRTU delivers both sustainability and operational advantages. The technology also removes concerns around SF6 leakage during operations and eliminates the need for SF6 recovery and recycling at end of life, while offering a robust, reliable, and longer-lasting alternative to conventional RMUs.

This deployment reflects Schneider Electric’s continued commitment to supporting India’s grid modernization journey through sustainable and digitally enabled technologies. The BRPL pilot is expected to serve as a strong reference for future large-scale adoption of SF6-free medium-voltage solutions across the Indian utility market.

About Schneider Electric:

Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centres, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric is consistently ranked among the world’s most sustainable companies.

JioBlackRock Asset Management Launches Its First ETF With The JioBlackRock Nifty 50 ETF

Jio BlackRock Asset Management Private Limited (JioBlackRock Asset Management), a 50:50 JV between Jio Financial Services Limited (JFSL) and BlackRock*, today announced the launch of the JioBlackRock Nifty 50 ETF, its first Exchange Traded Fund (ETF). The launch marks another significant milestone in the firm's journey to make investing simpler, more accessible and more affordable for investors. The launch also marks JioBlackRock's entry into India's rapidly expanding ETF market, reinforcing its commitment to building a comprehensive suite of investment solutions that cater to the evolving needs of investors.

The New Fund Offer (NFO) for the JioBlackRock Nifty 50 ETF will open on August 04, 2026 and close on August 11, 2026.

The ETF seeks to track the Nifty 50 Index, providing investors with exposure to India's 50 largest and established listed companies through a single investment. Representing approximately 53.73% of India's market capitalisation as of March 30, 2026, the Nifty 50 Index has long served as a benchmark for India's equity markets and offers investors broad participation in the country's long-term economic and corporate growth.

Sid Swaminathan, Managing Director & Chief Executive Officer, JioBlackRock Asset Management, said: “The JioBlackRock Nifty 50 ETF is built around a simple objective—to make it easier for investors to participate in the long-term growth story of India’s leading companies. For many investors, a broad-market index can serve as the foundation of a portfolio by offering diversification, transparency and simplicity through a single investment.

Name of the Investment Strategy	What it Offers
JioBlackRock Nifty 50 ETF	Passive investment in equity and equity related securities replicating the composition of Nifty 50 Index, subject to tracking errors. There is no assurance that the investment objective of the Scheme will be achieved.
Benchmark (TRI)	NIFTY 50 Index (TRI)

This launch combines BlackRock’s global leadership in ETFs and index investing with Jio’s digital capabilities and deep understanding of Indian consumers. Together, we aim to make world-class investing more accessible and help more investors build long-term wealth with confidence.”

BlackRock is the the world's largest provider of ETFs, managing more than US$6 trillion in ETF and index assets globally through its iShares platform. JioBlackRock seeks to leverage BlackRock's investment technology and portfolio management capabilities and seeks to deliver a high-quality ETF investing experience for investors.

The JioBlackRock Nifty50 ETF is now live and investment ready on www.jioblackrockamc.com , the JioFinance and MyJio apps.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

About JioBlackRock Asset Management Private Limited

JioBlackRock Asset Management Private Limited is a joint venture between Jio Financial Services Limited (JFSL) and BlackRock, one of the world’s leading asset managers. The company aims to combine JFSL’s digital reach and ecosystem with BlackRock’s global investment expertise and risk management capabilities to offer accessible, technology-led investment solutions for Indian investors.

About Jio Financial Services Limited:

Jio Financial Services Limited (JFSL) is a Core Investment Company (CIC) registered with the Reserve Bank of India. As a new-age institution, JFSL operates a full-stack financial services ecosystem through customer-facing subsidiaries, including Jio Credit Limited, Jio Insurance Broking Limited, Jio Payment Solutions Limited, Jio Leasing Services Limited, Jio Finance Platform and Service Limited, and Jio Payments Bank Limited.

Through a 50:50 joint venture with BlackRock, JFSL offers Mutual Funds and SIFs in India through Jio BlackRock Asset Management Private Limited; and wealth management through Jio BlackRock Investment Advisers Private Limited. The JV with BlackRock also proposes to offer broking services through Jio BlackRock Broking Private Limited.

JFSL has entered into 50:50 joint ventures with the Allianz Group, establishing Allianz Jio Reinsurance Limited for reinsurance services and Jio Allianz General Insurance Limited for general and health insurance in India. Additionally, they have signed a non-binding agreement to explore future opportunities in life insurance.

With a digital-first model, JFSL is committed to enhancing the financial well-being of Indian citizens by enabling them to borrow, transact, save, and invest seamlessly. Through the JioFinance app, customers can access a wide range of solutions including loans, savings accounts, investment products and solutions, UPI, bill payments, recharges, digital insurance, financial tracking and management tools, and more.

For more updates, please visit www.jfs.in

About BlackRock:

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.

For additional information on BlackRock, please visit www.blackrock.com/corporate | 

EXL Completes Acquisition of iMerit Accelerating Enterprise AI Leadership

• iMerit founder and CEO Radha Ramaswami Basu joins EXL executive committee

ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, announced it has completed the acquisition of iMerit, a recognized leader in AI model training, evaluation and reinforcement learning. Together, EXL’s enterprise data and AI leadership and iMerit’s capabilities and foundation model relationships will help clients build AI systems that are trusted, accountable and built to perform in the enterprise.
The completion of the acquisition establishes an end-to-end AI platform for enterprises, uniting EXL’s deep data, context and AI expertise with iMerit's technology, expert-led solutions and generative AI experience helping them accelerate the transition from pilot to production-scale AI.

As part of the transaction, iMerit founder and CEO Radha Ramaswami Basu joins EXL as Executive Vice President, Head of iMerit, and becomes a member of the company’s executive committee.

“This acquisition is a transformational pivot for EXL, deepening our vertically specialized AI capabilities and expanding our reach into high-growth AI technology sectors,” said Rohit Kapoor, chairman and chief executive officer of EXL. “By combining iMerit’s capabilities with EXL’s domain expertise and AI platforms, we are well positioned to help clients build, fine-tune and operationalize AI that performs reliably in production. This is especially critical in regulated industries where domain knowledge, context and compliance are non-negotiable. I am delighted to welcome Radha to EXL's executive committee; her vision, leadership, and deep expertise at the intersection of human intelligence and AI will help shape the next chapter of EXL's growth and innovation.”

“The next generation of enterprise AI will be defined not by the models organizations choose, but by how effectively they can deploy them in real-world business environments,” said Basu. “What excites me most about joining EXL is the opportunity to combine iMerit’s pioneering work in AI data, evaluation and human intelligence with EXL’s extraordinary depth in data, AI and enterprise transformation. Together, we can help clients bridge the gap between innovation and execution, turning AI potential into measurable business results. I am energized by what lies ahead and honored to join EXL’s executive committee as we help clients unlock the full value in enterprise AI integration.”

With iMerit now part of EXL, the combination extends the data and AI-led strategy EXL has been executing on for several years.

About EXL

EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit www.exlservice.com.

About iMerit

iMerit is a leader in AI fine tuning, evaluation, and reinforcement learning. iMerit helps frontier AI labs and enterprises build more accurate, reliable, and domain-aware models. iMerit delivers high-quality data across industries such as high-tech, autonomous mobility, healthcare AI, and robotics. Scholars, its global network of specialists, includes physicians, scientists, engineers, linguists, and other subject matter experts who power high-quality data creation, reasoning evaluation, model alignment, and human feedback workflows for next-generation AI systems. Its proprietary Ango Hub platform allows customers and experts to collaborate on complex multimodal data to generate highly curated and validated training artifacts for high-stakes models. Learn more at imerit.ai.