Unacademy to transition to franchise model; Groww reports Q3 profit of Rs 547 Cr

Hello,

The startup IPO season is back with Shadowfax. 

The Flipkart-backed logistics firm will offer shares in the Rs 118 to Rs 124 price band. 

The offering, which will open for subscription on January 20, will have a total offer size of Rs 1,907.2 crore, including a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale of Rs 907.3 crore worth of shares being offloaded by investors.

Meanwhile, Infosys reported a 2.2% drop in net profit in Q3 FY26, impacted by new labour regulations, but remained optimistic on the future growth outlook. Here’s all the details from Infosys’ quarterly earnings report.

In other news, Ola Electric will open up its 4680 Bharat Cell platform for startups and businesses. Its battery packs can now be used for applications across automotive, drones, and portable medical equipment. 

Moving on: Dubai chocolates have inspired South Korea’s latest dessert craze. Despite its name, the Dubai chewy cookie’s texture more closely resembles a rice cake, and is made by stuffing pistachio cream and knafeh shreds into a chocolate marshmallow.

Speaking of South Korean sensations, K-pop band BTS is back! The K-pop group will start on its 2026-27 world tour in April, after nearly a four-year hiatus due to all seven members needing to complete the country’s mandatory military service.

And if one believes the chatter online, BTS will most likely perform in India in 2027! 

In today’s newsletter, we will talk about 

• Unacademy to transition to franchise model
• Groww reports Q3 profit of Rs 547 Cr

Here’s your trivia for today: Which fish, previously thought to be extinct, was rediscovered in 1939?

Edtech

Unacademy to transition to franchise model

SoftBank-backed Unacademy will shut down its company-operated offline centres and transition those to a franchise model—a move further aimed at reducing its burn, the company's co-founder and CEO Gaurav Munjal told employees in an email on Wednesday.

"Over the coming months, we will exit our company-operated centre business by converting them into franchise partnerships. The franchise model has already shown that it works: great local operators run operations, and we provide the academics, technology and reach. It is asset-light, capital-efficient, and aligned with who we are," Munjal told employees via an email, which YourStory has seen.

Key takeaways:

• The development comes just days after Ronnie Screwvala's upGrad pulled out of a potential merger between two of India's most-celebrated edtechs.
• Addressing employees for the first time since the fallout of the upGrad deal, Munjal said that over the years, Unacademy has built "great online learning products" that have scaled and shown working economics and impact.
• Munjal, who recently returned to the helm at Unacademy after the upGrad deal fallout, said the current calendar year will be about "growth" and not about "survival."

Fintech

Groww reports Q3 profit of Rs 547 Cr

Stockbroking platform Groww reported a 27.8% decline in quarterly profit, dragged down by a high base effect from a one-time incentive reversal a year earlier, even as the fintech firm’s top-line revenue surged nearly 25%.

Meanwhile, State Street Investment Management will make a strategic minority investment in Groww Asset Management Ltd., valuing the mutual fund business at about Rs 2,500 crore, according to regulatory disclosures filed on Tuesday.

Earnings:

• The online investment platform posted a profit after tax (PAT) of Rs 546.93 crore for Q3 FY26, down from Rs 757.11 crore in the same period a year ago, according to its financial statements.
• Stripping away the accounting adjustments from the previous year, Groww’s core operating momentum remained strong. Revenue from operations climbed 24.8% to Rs 1,216.07 crore, up from Rs 974.53 crore a year earlier.
• Groww's retail cash equity activity increased from Rs 9,394 crore in Q3 FY25 to Rs 11,331 crore in Q3 FY26, helping the company expand its broking market share from 21.6% to 28.8%.

News & updates

• New feature: Apple is launching a new Creator Studio subscription bundle that offers access to six creative apps and premium content in iWork apps. Apple Creator Studio will be available beginning January 28. All new subscribers will get a one-month free trial.
• Trade: China has reported a strong export run in 2025 with a record trillion-dollar surplus, as its producers brace for three more years of a Trump administration set on slowing the manufacturing powerhouse by shifting US orders to other markets. The full-year trade surplus came in at $1.189 trillion.
• Going concern: Saks Global, the parent company of luxury retailer Saks Fifth Avenue, filed for Chapter 11 bankruptcy protection late Tuesday. The company had struggled with a heavy debt load following its purchase of rival Neiman Marcus in 2024.

Which fish, previously thought to be extinct, was rediscovered in 1939?

Answer: Coelacanth.

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