ICICI venture firm, RFCL Ltd acquired Alved Pharma and Foods. RFCL aims at banking on Alved's southern market in animal healthcare business.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
The availability of domestic capital to fund startups and an ability to attract talent in the early days are among the biggest challenges faced by entrepreneurs, Infosys co-founder N R Narayana Murthy said on Thursday. "It is desirable to create a policy that makes it attractive for domestic institutions like family offices of HNIs (high net-worth individuals), insurance companies or large corporations to invest in venture capital funding," he said at the T N Chaturvedi Memorial Lecture 2024 in New Delhi's Prime Ministers' Museum and Library.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
In 2024 so far, 20 startups have already visited the campus with 80 placements.
Blume Ventures sets a breakneck speed in two years of existence; time will tell if the strategy works.
Facing disruptions due to non-availability of crew, Vistara on Sunday announced reducing 10 per cent of its capacity or 25-30 flights daily and most of the cancellations are in the domestic network as the Tata Group airline strives to stabilise operations. The full-service carrier is to operate over 300 flights daily in the ongoing summer schedule and witnessed significant disruptions earlier this week as many pilots reported sick, resulting in cancellations of flights. "We are carefully scaling back our operations by around 25-30 flights per day, i.e. roughly 10 per cent of the capacity we were operating.
There is more appetite for failure both in entrepreneurs and early-stage investors, say analysts
'We want to make sustainability affordable.' 'We tell everyone, don't just recycle, Craste it!'
Mother's Day reminded me of how my mom learned to cook Indian food.
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
To invest $1 bn in realty sector, mulls new funds; has done exits worth Rs 8,000 crore, says founder
'Success is in the hands of the audience. I learn from what they like or dislike, and take the next step further.'
The Luna-25 spacecraft crashed into the Moon after it spun into an uncontrolled orbit, Russia's Roscosmos space agency said on August 20.
India may get its first unicorn this year as Zepto, which promises 10-minute deliveries, is in talks to get fresh funding that would take the start-up's valuation past $1 billion. The quick-delivery firm is looking to raise $150 million in a series E round, which will take its valuation to $1.3 billion. The round will be led by StepStone Group, a limited partner (LP) of Zepto's existing investor, Nexus Venture Partners, said media reports.
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
The sources said India's priority is safety of movement and well being of individuals wherever they are located.
FSSAI is looking to tap the Airport Health Organisation to ensure that such incidents aren't reported in the future.
As many as 5,532 complaints were received by the regulator in January, an 80 per cent increase over the number of complaints filed in the previous month.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
The Directorate of Enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (Fema) in the Paytm Payments Bank case, according to sources in the know. The probe follows serious concerns raised by the Reserve Bank of India on multiple violations by the Paytm bank, which is a joint venture between One97 Communications, which is the parent company of Paytm, and the group's founder Vijay Shekhar Sharma.
'We can save 70 patients out of 100, if they reach a hospital well within time.' 'The most crucial aspect is time.'
An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged "mismanagement and failures". Raveendran and his family stayed away from the EGM, calling it "procedurally invalid."
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
Lauding India's ambitious space programme, The New York Times has said the country, currently witnessing an 'explosive' growth in space-tech start-ups, is set to 'transform the planet's connection to the final frontier' and can emerge as a 'counterweight' to China.
Meet Nilima Kalra, 79, Manju Roy, 80, Sumita Maan, 79, and Gurpreet Kaur, 75.
Tata Sons Private Limited, the holding company of the Tata group, witnessed a precipitous drop in its net debt to Rs 5,656 crore in the 10 months ended January this year, as its cash reserves burgeoned to Rs 9,516 crore during this period. Eight years ago, in 2015-16, Tata Sons reported a net debt of Rs 5,132 crore; from March 2017 until March 2023, this figure was above the Rs 14,700 mark, peaking at Rs 27,437 crore at the end of March 2019, according to data sourced from Capitaline. The company's gross debt nearly halved to Rs 15,173 crore until January 2024 on a standalone basis, down from a peak of Rs 31,363 crore reported in the financial year ended March 2019.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
In a landmark deal announced in Mumbai, Star Den Media Services Pvt Ltd and Zee Turner Ltd will form a joint venture to combine distribution of their respective channel bouquets in India.
The UK-based BAE Systems has zeroed in on M&M and is believed to have signed a Memorandum of Understanding (MoU) after holding talks with at least two other leading corporates -- Tatas and Larsen and Toubro (L&T) for its Indian Land Systems project, sources close to the development said.
Once the requisite approvals have been received, the joint venture would be primarily engaged in selling value added services for mobile devices.
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
Murthy joins the league of top corporate honchos who have launched private equity funds to assist budding entrepreneurs and upcoming ventures across various sectors in India.
Karnataka high court on Wednesday refused to stay an emergency shareholder meeting called by select investors of Think and Learn Pvt Ltd -- the owner of Byju's -- to oust the company's Founder and CEO Byju Raveendran and his family from the leadership in the edtech firm. Byju's had approached the Karnataka HC seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing. "It is further submitted that the conditions for convening the Extraordinary General Meeting (EGM) are not complied and no notice is issued as contemplated under Section 100 (3) of the Companies Act 2013," the court order said.
The $100-million fund, which has the option to raise a further $200 million, will benefit small and medium enterprises engaged in defence production.
The reported buyback of Temasek's 20 per cent stake in Tata Play by Tata Sons will be the third instance of Tata Group providing an exit to a foreign partner in recent years. In 2018, Tata Sons paid $1.27 billion to DoCoMo to buy back 26 per cent of the group's telecommunication venture, Tata Teleservices. This was followed by Tata Sons acquiring AirAsia Berhad's 49 per cent stake in AirAsia India in two tranches to make it a wholly owned subsidiary.
Indian entrepreneurs have an excellent opportunity to start companies with anywhere between $1-10 million and create one of the top 10 companies.
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