Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform. Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed. The IPO is India's biggest since March 2020. Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
Customers of stressed Punjab & Maharashtra Co-Operative Bank (PMC Bank) will not get up to Rs 5 lakh insurance cover in the first lot as the multi-state co-operative bank is under the resolution process. Deposit Insurance and Credit Guarantee Corporation (DICGC) in the first lot will pay customers of 20 stressed banks except PMC Bank. For the first lot, the mandatory 90 days period concludes on November 30.
There is a 20 per cent growth in demand for 'full stack developers' in India.
Unique benefits, work-life balance, and fair share of profits were the top three areas where MNCs fared better over Indian companies
Unacademy on Monday said it has raised $440 million (about Rs 3,270.8 crore) in funding from a clutch of investors including Temasek, General Atlantic, and Softbank Vision Fund, valuing the edtech major at $3.44 billion. The investment is expected to help Unacademy expand its offerings, deepen its presence and compete more aggressively against rivals such as Byju's in the burgeoning ed-tech space in India that has been witnessing strong uptake amid the pandemic. The series H round was led by Temasek, with super pro-rata participation from General Atlantic, Tiger Global, and Softbank Vision Fund, a statement said.
Experts are betting big on the clause that talks of capital gains.
The spacetech startup is expected to launch the first rocket which can hurl satellites of 250-700 kg into a lower Earth orbit by end-2021.
To meet this week on representation to HRD ministry for degree granting power, autonomy.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
As part of the deal, Padukone will own equity in Drum Foods.
From the drones show to projection mapping show, this year's ceremony also presented quite a few firsts.
these are all funded by venture capitalists and "after 2-3 rounds of funding, 80 per cent shares are gone" and then are sold to some corporate houses
Always acknowledge what you don't know and know that there are many paths to an end goal, says three-time founder and CEO Neha Sampat.
Budget 2016 may hold some answers to start-up cooncerns.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Speaking to the Indian community, he asked them to join the campaigns launched by Prime Minister Modi such as 'Digital India', 'Startup India, Stand up India', 'Clean India Mission', 'Smart Cities' etc.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
One in five Indian students now prefer new and unconventional study destinations like Ireland, Turkey and Spain. The number of Indian students in Germany grew by 20.85 per cent in the winter semester to stand at over 25,000.
Business chambers now inviting start-ups for membership.
AI and machine learning will only continue to grow in 2022, with a significant increase in the demand for such roles, notes Sekhar Garisa, CEO, Monster.com.
Cook further said that Apple would like to place retail stores in India and is working with the government to seek approval to do that.
Qualcomm Incorporated, a developer of wireless technologies and data solutions, on Tuesday announced its plans to invest in Indian startup companies offering technologies and services that enhance the wireless communications and semiconductor ecosystems.
Byju's is raising about Rs 2,200 crore ($300 million) as part of a larger round of new investment as the world's most valuable edtech company focuses on expanding its business in global markets and explores to do more acquisitions. According to industry sources, the new funding may value Bengaluru-based Byju's at $18 billion, up from a valuation of $16.5 billion in June this year. In June, Byju's became India's most valuable unicorn with a valuation of $16.5 billion, surpassing fintech company Paytm's $16 billion valuation.
Ankur Singla's Akosha is an Internet-based company that helps people tackle consumer complaints, draft rental agreements and wills, etc.. all from the comfort of their homes.
'Health will continue to be at the centre of the government's attention as it underpins economic recovery and our collective well being.'
US-based co-working operator WeWork, Lowe's India, SpiceJet and startups like CureFit stepped in to offer employment to the distressed workers at Jet.
'SC and ST entrepreneurs are showing promise in starting and running businesses'.
'Even if you are aping the West, if you customise the idea for the Indian market, localise it based on the Indian ethos, it will succeed.'
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
Prime Minister Narendra Modi on Friday handed over to the armed forces indigenously-developed light combat helicopters, unmanned aerial vehicles and electronic warfare systems for the warships, in reflection of India's focus to boost its domestic defence industry.
In a first, a grand drone show will dazzle the sky above the national capital during the Beating the Retreat ceremony to be held at Vijay Chowk on Saturday as part of the country's 73rd Republic Day celebrations.
According to India Skills Report 2019, Andhra Pradesh offers equal space to both male and female workers.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
Policy constraints may prevent many of the global retail giants from reaching their full potential.There are too many restrictions right now in the sector and policy makers lack clarity.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
The number of forms to be filled to operate drones in the country have been reduced to six in draft 'Drone Rules, 2021' in comparison to 25 forms mentioned in the Unmanned Aircraft System (UAS) Rules, 2021, it said.
On an annual basis, we'll seek out solutions to Indian Railways' most critical problems through 'innovation challenge': Suresh Prabhu
The company has set an internal target of 6-18 months to set up the data centre. The plan is part of the $1 billion ByteDance has recently committed to the Indian market over the next three years.
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