Myntra is preparing to re-enter the UAE market amid broader expansion plans that include Malaysia and Australia, Moneycontrol reports. The move builds on the Walmart-owned fashion platform’s strong traction in Singapore as it eyes markets with a large Indian diaspora. Operations will run through Myntraglobal, which fulfils cross-border orders from India via local partners, allowing the firm to scale without on-ground teams.

This marks the company’s second foray into the UAE — one of Myntra’s fastest-growing international traffic sources. A previous partnership in 2020 with Emaar group’s Noon and Namshi was unsuccessful and the efforts did not yield results, leading Myntra to pause regional operations. The push is a key focus area for CEO Nandita Sinha (Linkedin), who steered Myntra to profitability and wants a sustainable, India-led offering tailored to diaspora shoppers.

AUTO-

Ashok Leyland sets up Saudi subsidiary: India-based commercial vehicle manufacturer Ashok Leyland has incorporated a wholly owned subsidiary in Saudi Arabia to establish an assembly plant, according to a filing (pdf). The subsidiary will serve the domestic market and regional demand.

FINANCE-

The government of India will sell up to 6% of its stake in state-owned Bank of Maharashtra through an offer-for-sale, with the window opening for non-retail investors on 2 December and for retail investors on 3 December, Fortune India reports. The offer includes a 5% base sale and a 1% green-shoe option, and the base tranche alone could raise about INR 18 bn (USD 216 mn) at current market prices. The government held 79.6% in the lender as of the September quarter, and shares closed at INR 57.66 on the announcement day, valuing the bank at about INR 443.5 bn (USD 5.3 bn).

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