Good morning, chai fam! 🌸

It’s Friday Junior and Gandhi Jayanti — a day when the markets are shut, but the news is anything but. From courtroom clashes to quick-commerce billions and a stock market rebound, today’s brew has both spice and serenity. Let’s pour it out.

📰 Chai Shots

• ⚖️ Boult blocked from using ‘GoBoult’ brand: A Karnataka court has restrained Boult from selling or promoting products under its new “GoBoult” identity, after DPAC Ventures argued it was too similar to their “GoBold” trademark. The move comes just weeks after Boult’s splashy rebrand aimed at premium wearables and global expansion. More in the Big Brew 👇

• 🛒 As reported last month, Zepto to close raise $400M at $7B valuation: Quick-commerce unicorn Zepto is lining up a massive $400M round led by U.S. pension giant Calpers, with existing investors also chipping in. Most of the funds will be primary infusion, cementing Zepto’s position as one of India’s most richly valued startups.

• 📉 Reddit stock sinks as AI usage dips: Reddit shares plunged 12% after data showed its content appeared in just 2% of ChatGPT answers this week, down from nearly 10% in August. The drop comes as Reddit negotiates fresh licensing deals with OpenAI and Google.

• 💸 Simpl slashes 100 jobs amid RBI crackdown: BNPL startup Simpl has laid off nearly half its staff after the RBI barred it from running payments without authorization. With the Enforcement Directorate also probing FDI violations, Simpl has cut back to just collections and ops, putting its core business on ice.

📈 Market Masala

• 📊 Sensex snaps losing streak with 716-pt jump: After eight straight sessions of declines, Indian equities rebounded on October 1, with Sensex surging near 81,000 and Nifty crossing 24,800. Banking stocks led the charge after the RBI held repo rates steady at 5.5% and slashed inflation forecasts.

• 💹 RBI pause powers rally: Markets cheered as the RBI kept repo rates at 5.5% for a second meeting, while cutting FY26 inflation forecast to 2.6% and lifting GDP outlook to 6.8%. Analysts see room for another rate cut by December, giving rate-sensitive sectors like autos and housing a boost.

• 🏦 Banking stocks rebound: HDFC, Kotak, ICICI, and Axis all rallied after RBI eased lending rules—raising loan-against-shares limits to ₹1 crore and IPO financing to ₹25 lakh—providing lenders fresh growth avenues.

• 💱 Rupee steadies against dollar: The rupee firmed to 88.75/$ as global investors sold the greenback amid U.S. shutdown worries, helping support sentiment for Indian equities.

• 💼 BofA snaps up Eternal stake: Bank of America Securities bought 82 lakh shares of Eternal from Goldman Sachs at ₹325.5 apiece, worth ₹267 crore. Eternal’s revenues jumped 70% YoY last quarter, though profits fell sharply.

🌍 Global Masala

• 📈 Wall Street rallies despite U.S. shutdown: The S&P 500 closed above 6,700 for the first time, while Nasdaq and Dow also notched gains. Investors bet the government shutdown will be short-lived, though delayed data releases and Trump’s threat of federal layoffs add fresh risks.

☕ The Big Brew: Boult’s Branding Battle Boils Over

Boult Audio’s shiny new identity, “GoBoult,” has been pulled into legal quicksand just weeks after launch. A Karnataka court has barred the D2C electronics brand from using the name, siding with DPAC Ventures, which owns the “GoBold”trademark.

DPAC argued the similarity wasn’t just cosmetic — it claimed Boult even gamed search results so “GoBold” queries redirected to “GoBoult” products. The court found enough evidence of potential confusion and ordered Boult to halt sales, ads, and promotions under the disputed brand, at least until mediation later this month.

🚨 The timing couldn’t be worse. Boult had rebranded to GoBoult in August to signal a move upmarket, expand wearables, and prep for an IPO. Now, its website has gone dark and its Instagram vanished — a serious setback during festive season sales.

This isn’t Boult’s first brush with trademark drama. It has been sparring with rival boAt since 2019 over lookalike names, logos, and taglines. Having already lost parts of that case, Boult’s fresh branding was meant to be a reset. Instead, it’s déjà vu in court.

🤔 What does this mean?

• For startups: A name isn’t just creative—it’s a legal moat. Skipping the checks can derail big growth plans.

• For consumers: Courts step in to prevent confusion, especially in crowded categories where trust is everything.

• For Boult: With IPO ambitions and ₹1,000 crore revenue targets, it faces a costly choice: fight on in court or scrap the brand pivot altogether.

🚀 Startup Scoop

• 💵 GrowXCD raises ₹200 Cr for MSME lending: Chennai-based GrowXCD secured ₹200 crore led by Blue Earth Capital and Prosus Ventures, with Lok Capital upping its stake. The NBFC lends to MSMEs and salaried workers in tier-II and III towns, with plans to expand branches and double AUM to ₹500 crore by March 2026.

• 🚧 Infra.Market files ₹5,000 Cr IPO: Accel- and Tiger Global-backed Infra.Market has confidentially filed for a ₹5,000 crore IPO. With FY25 revenue at ₹18,000 crore and EBITDA of ₹1,500 crore, the company is riding India’s infrastructure boom while boosting promoter stakes through recent fundraises.

• 🏢 WeWork India raises ₹1,348 Cr from anchors: Ahead of its IPO, WeWork India secured ₹1,348 crore from 67 anchor investors, including Goldman Sachs, ICICI Prudential, and Nippon India. Nearly half the anchor allocation went to domestic mutual funds across 32 schemes, signalling strong investor appetite.

🤔 Chai Break Trivia

Did you know Mahatma Gandhi’s Dandi March in 1930 covered nearly 390 km over 24 days, igniting a nationwide civil disobedience movement against the British salt tax. A reminder today of how small steps can spark massive change.

🔮 What’s Brewing Next

• 📊 WeWork India IPO opens October 3: After a strong anchor response, the coworking major opens its much-watched public issue tomorrow.

That’s a wrap for today’s brew! Markets may be on pause, but the headlines never stop simmering. Enjoy the midweek holiday, sip something strong, and we’ll be back tomorrow with more chai and spice. ☕✨