AI Funding, PhysicsWallah, Legal Influencers

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It’s March 19. Today: India’s AI funding boom, PhysicsWallah’s IPO, and legal influencers. Plus, job openings at Bain, HSBC, ExxonMobil, and more in Who’s Hiring at the end.

Policy & Governance

> Nagpur Sees Violence Over Aurangzeb Debate
At least 50 people were detained after violence erupted in Nagpur following protests by Bajrang Dal and Vishva Hindu Parishad over the ongoing debates around razing Aurangzeb’s Tomb. The clashes injured 33 police officers and damaged multiple vehicles. Police imposed a curfew and used teargas to control the situation. (The Hindu)

> CCI Raids Ad Firms Over Alleged Collusion
India’s antitrust body raided offices of major advertising firms, including GroupM, Publicis, Dentsu, and Interpublic Group, over allegations of price collusion with broadcasters. The Competition Commission of India (CCI) searched around 10 locations in Mumbai, Delhi, and Gurugram. The probe focuses on ad price fixing and discount discussions, amid shifts in India's media landscape following major mergers. (Reuters)

> Bar Council Warns Legal Influencers
The Bar Council of India (BCI) has raised concerns over unqualified legal influencers spreading misinformation on key legal issues, including matrimonial disputes, taxation, and privacy rights. Further, it warned advocates against advertising legal services via social media, banning celebrity endorsements and promotional videos. (Livemint)

> SC Directs ECI to Hear Vote Data Disclosure Plea
The Supreme Court has directed the Election Commission of India (ECI) to meet Lok Sabha MP Mahua Moitra and NGO Association for Democratic Reform (ADR) within 10 days regarding their demand to upload authenticated, booth-wise voting records. The ECI, which previously opposed the disclosure of data, has now agreed to a hearing under new Chief Election Commissioner Gyanesh Kumar. (Business Standard)

Business

> L&T to Invest ₹3,600 Crore in Data Centers
Larsen & Toubro plans to invest up to ₹3,600 crore to build three new data centers in Bengaluru, Panvel, and Mahape, increasing capacity from 32 MW to 150 MW by 2027. CEO Seema Ambastha highlighted growing demand due to digitalisation and AI adoption. As 5G expands, smaller data centres may emerge in tier 2 and 3 cities to lower costs. (Moneycontrol)

> Karnataka Introduces Bills on E-Stamping, Land Grabbing
The Karnataka government tabled bills to enable digital e-stamping and electronic payment of stamp duty. The Registration Bill, 2025 mandates registering power-of-attorney documents for property transfers. The Land Grabbing Prohibition Bill, 2025 increases penalties for land encroachment, doubling fines to ₹50,000 and introducing a 3-year prison term for offenders. (Economic Times)

> Delhi’s Peak Power Demand Expected to Hit 9,000 MW This Summer
Delhi’s peak power demand is projected to reach 9,000 MW this summer, surpassing the all-time high of 8,656 MW in 2024. Discoms are preparing by strengthening networks and leveraging over 2,100 MW of green power. The city’s power demand has surged consistently, rising over 300% from 2,879 MW in 2002, reflecting growing consumption trends. (Business Standard)

> Flying Out of Mumbai to Get Expensive
Mumbai International Airport Ltd (MIAL) has proposed a new ₹325 user development fee (UDF) for departing domestic passengers and a tripling of the UDF for international passengers to ₹650. The proposal, submitted to the Airport Economic Regulatory Authority (AERA), is intended to fund infrastructure and technology upgrades at the airport. (Business Standard)

Tech, Media & Telecom

> ₹300 Crore Real Estate Tech Fund 
Zerodha co-founder Nikhil Kamath's Gruhas Venture Capital has partnered with Brigade Group to launch the ₹300 crore Earth Fund, focused on real estate technology and sustainability. Claimed to be India's first such fund, it will invest ₹8-12 crore in pre-Series A and Series A startups, targeting 10-15 investments with reserves for follow-on funding. (Moneycontrol)

> India Becomes Asia’s Second-Largest AI Market in 2025
India has overtaken South Korea and Japan to become Asia’s second-largest market for AI deals in 2025. As of March 10, India recorded 53 AI and machine learning deals worth $222.8 million, surpassing South Korea’s 51 deals ($95.1M) and Japan’s 39 deals ($27.5M). China remains the leader, with 100 deals totaling $917.8 million. (Nikkei Asia)

> PhysicsWallah Files for ₹4,600 Crore IPO
Edtech unicorn PhysicsWallah has confidentially filed draft papers for a ₹4,600 crore IPO, sources said. If successful, it could become India’s first edtech firm to go public. The company is reportedly aiming for a valuation higher than the $2.8 billion it received in the last round. (Moneycontrol)

> Uber India Posts Strong FY24 Growth
Uber India's revenue surged 41.1% YoY to ₹3,762 crore in FY24, up from ₹2,666 crore in FY23, while its losses shrank by 71.4%. Revenue from ride-hailing, which accounted for 21.45% of total operating revenue, grew 18.9% to ₹807 crore from ₹679 crore the previous year. (Entrackr)

Quick Hits

> The government and Meta have launched the "Be an Empowered Consumer" campaign to boost digital literacy and protect online consumers from fraud.

> Bengaluru's Kempegowda International Airport won the ACI Airport Service Quality Award for Best Airport for Arrivals Globally in 2024, its third consecutive win.

> Farm-to-fork startup Deep Rooted is shutting down operations after pivoting from B2B to B2C post-COVID, despite raising over $18 million in funding.

> IIT Madras has inaugurated the S. Ramakrishnan Centre of Excellence in Fluid and Thermal Science Research to advance spacecraft and launch vehicle thermal management.

> India ranked 24th out of 33 countries in a global free speech index by The Future of Free Speech, with 37% of respondents supporting government restrictions on criticism—the highest among all surveyed nations.

> Delhi remained India's most polluted megacity in winter 2024-25, with an average PM2.5 concentration of 175 µg/m³, far ahead of Kolkata (65 µg/m³).

Worth a Look

Aaryan Shukla, a 14-year-old from Maharashtra, just set a world record—mentally adding 100 four-digit numbers in 30.9 seconds. Watch this mind-boggling calculation in action.

Who’s Hiring

> Bain is hiring an associate for its Marketing and Customer Experience (MCX) team, which builds and deploys solutions for the firm’s customer practice.

> ExxonMobil is hiring a legal counsel to assist with legal analysis, negotiations, and more. Potentially a solid fit for someone looking to pivot to an in-house role.

> Dentons Link Legal is hiring for its arbitration team.

> Sarvam AI is hiring a product manager to help redefine the AI agents landscape in India. A great opportunity for a candidate with the right skillset to shape AI in the country.

> HSBC is hiring a ventures associate to assist with the bank’s portfolio companies.

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