The latest round of funding values the company at $10.7 billion, almost doubling it from the $5.5 billion valuation during the $1.25 billion fund raise in July 2021 when investors including SoftBank, Prosus and Accel pumped in capital in what was the company's biggest funding since its inception. The other new investors in the latest round of funding include Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group and Segantii Capital, Swiggy said in a statement.
Sun Pharma dipped 2% to Rs 615 on the BSE, its lowest level since November 9, 2016
Albeit muted for most part of the year, Deal Street in India has clocked M&As worth $29 billion in 2014 and expects the size to get larger with transactions worth over $40 billion in the New Year.
With the festival sales in full swing, e-commerce firms are ramping up hiring to meet the increasing consumer demand. Close to 300,000 new jobs have been created in the sector so far and over 500,000 more jobs are expected to be added till Diwali, according to a report by TeamLease. The demand for gig workers is, however, not restricted to tier-1 cities. Tier-2 and tier-3 cities have seen an increase of 40 per cent, with a higher demand for delivery workers, according to a TeamLease report.
Investors will remain cautious ahead of F&O expiry.
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
Mohnish Pabrai whose company handles funds to the tune of $464 mn spoke at length about his investment decisions in Mumbai
'There's this one scene in Gulmohar that belongs to Manojji and everyone was excited for him.' 'The evening before we were to shoot it, everyone, from Sharmilaji to the junior most actor, wished him luck.'
'He was suddenly nervous.'
'The next day, 14 actors, from Sharmilaji and Amol Palekar to Suraj Sharma, all watched him perform.' 'It was like being back in film school.'
As Indians start travelling in the new normal, strong recovery in smaller towns underscores success for ride-hailing giant's 'India to Bharat' strategy, which offers new products in regional markets.
The 30-share Sensex ended down 39 points at 26,265 and the 50-share Nifty ended down 1 point at 7,954.
With a string of deals with telecom service providers, DTH operators and Bollywood stars, Netflix goes all out to protect its turf in India and fend off competition, says Viveat Pinto.
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
ShopClues does 1.5 million transactions a month and claims to have 40 million monthly visitors.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Since home-delivered meals from five-stars are cheaper by 15 to 20 per cent as compared to eating at the destination outside, food delivery has emerged as an important part of every restaurant's service portfolio.
India's gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled 'India's Booming Gig and Platform Economy' further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers.
'We have got Brexit done and we can now take full advantage of the fantastic opportunities available to us as an independent trading nation, striking trade deals with other partners around the world,' Downing Street said in a statement.
Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
Some investors had speculated that the US central bank might put its plans on hold given the jitters overseas.
But, the Wall Street Journal said that the US labour market is operating with millions fewer jobs than in February, the month before the coronavirus pandemic struck the country's economy.
Prime Minister Narendra Modi on Friday called for developing a template by the Shanghai Cooperation Organisation (SCO) to effectively deal with the challenges of extremism and radicalisation.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
Consultants who help lease these properties say this is the steepest decline at least in a decade.
The executive order, which was signed by Trump on Thursday, prohibits certain purchases involving publicly traded securities or any securities that are derivative of or are designed to provide investment exposure to such securities of any Communist Chinese military company.
Besides job loss, the exit of the American cult bike maker would also lead to a loss of up to Rs 130 crore for the brand's dealer partners in the country.
Johnson will be only the second British leader since Indian independence to attend the annual Republic Day parade in New Delhi as Guest of Honour, after former prime minister John Major in 1993.
IIM Lucknow has concluded its 2020-21 final placements.
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
The cricketer launched an online cult streetwear brand.
Michael Dell struck a deal to take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, partnering with the Silver Lake private equity firm and Microsoft Corp to try to turn around the struggling computer company without Wall Street scrutiny.
With supporters not allowed to attend matches and even the numbers of media tightly limited, there will be no boost in business for local bars and restaurants.
If Tamil Nadu BJP President K Annamalai bought it in 2015, did he get prior approval from the Union home ministry, and did he include it in his annual wealth returns, sections of the media want to know. N Sathiya Moorthy on the curious case of the 'Rafale' watch.
"Few nations are more vital to the future of American security and prosperity than India," Garcetti told the committee.
Mandates have been handed out to staffing solutions companies such as Randstad India and TeamLease, officials at these firms have said, as players increasingly push into rural areas to capitalise on the uptick in the hinterlands.
Barring stray incidents of violence like stone pelting, the shutdown called by the MVA allies Shiv Sena, the Congress and the Nationalist Congress Party was largely peaceful.
What worked for Hyundai in India when so many other auto manufacturers have had to eat humble pie? Pavan Lall finds out.
