MC Insider: Zerodha of algo trading, twist in EV tale, epic mixup in IT, all in the family and more

This CEO has been on an overdrive to make India reject petrol with his swanky range of electric two-wheelers. Quite the twist in the tale after saying for years that he is building a future where people need not own vehicles. In fact, Moneycontrol learns that the CEO, who famously said he will never own a car, is now the proud owner of a Toyota Vellfire, a luxurious hybrid offering from the Japanese carmaker that is priced in the same range as a Mercedes V- Class. Well, there’s a second twist in the tale—the Vellfire needs a petrol motor to provide charge, as the hybrid motor only provides supplementary power. It helps cut down emissions and increases mileage alright. But that is not really a rejection of petrol, isn’t it?

An Indian software firm is so obsessed with its global rival that it sends out alerts to journalists every time its market cap edges past the latter. This obsession however took on an entirely new level recently when it advertised for some content and communication roles. The job description that it posted was taken verbatim from its global rival, so much so that it forgot to change the name of the company at many places. The epic snafu prompted much amusement in the media and PR fraternity.

Word has it that a listed stock broking firm has ambitions of becoming the ‘Zerodha of algo trading’. Yep, you heard that right. This firm is on the prowl for a big tech push to get into the big league and is evaluating the acquisition of an algo trading outfit which will substantially beef up the latter’s offerings in the segment.

The IPO markets are red hot, but under the surface, trouble may be brewing in some cases. A few investment bankers fear that this fintech's IPO could turn the market because the firm has been groaning under the weight of governance issues, business challenges and slowing growth in the past. In fact, we hear bankers are actually even advising unprepared companies to list ASAP, before this fintech IPO, so that they can strike while the iron is hot. Listings planned for early next year are now being advanced so that they happen before this fintech! Hmm…

What do you do when a new competitor is in town? You go back to the drawing board and see what can be done to safeguard your position right? That's exactly what is happening in the busy asset reconstruction space. With the 'bad bank'—the government-backed asset reconstruction company—set to go live, existing ARCs have begun seeking inputs from experts and have even started media surveys to seek feedback on the changing industry trends and emerging challenges. The big boy is landing with the backing of major banks and the government. ARCs fear the new kid on the block will steal the show. But will it or are the fears exaggerated? Let's wait and watch.

This edtech major was rumoured to be acquiring a smaller rival—a claim the rival denied vehemently. MC Insider learns that while there were no deal talks, the edtech's founder allegedly leaked the news on purpose to spook this rival and its fundraising plans. And what makes the plot thicker is that this isn't the first time this founder has done so either! The competition is getting too hot, and everyone has to be on guard it seems.

Thrasio model startups have been all the rage. But at one of these companies, an investor recently made an outrageous suggestion. The investor casually suggested that the startup should just acquire brands that his close relatives run—a clear conflict of interest. It is unclear whether he was joking, and at least one person in the conversation was shocked. Too much money around, we say.

This unicorn's founder has been spending the last year either raising funds or buying companies. So much so that when we asked a source on whether the company is raising big bucks again, he quipped, "It is as good as a publicly-traded company where you see block deals every month." The founder apparently has an exhaustive list of all his investors, marking out who will do secondary sales in each round. He also has a take it or leave it approach when it comes to potential investors. While smaller investors don't get any access to the company's books, the bigger ones get a due diligence report, commissioned by the founder himself.