Devas Multimedia has seized $87,457.47 cash that ISRO's commercial arm Antrix Corporation held in the US as it looked to enforce a $1.2 billion compensation it had won over a cancelled satellite deal, its lawyer said on Wednesday. Devas Multimedia America Inc had sought seizure of $145,000 but the actual recovery was $87,457.47 (a little less than Rs 70 lakh). This came after it secured a favourable order from the Eastern District Court of Virginia, Matthew D McGrill said.
The Board of Control for Cricket in India (BCCI) has pegged the base price for the combined IPL media rights at Rs 32,890 crore, nearly double the Rs 16,347 that Star Disney paid five years ago. Experts say that at these levels, there does not seem to be any profit-and-loss logic at play. It is more about what premium broadcasting companies are ready to spend for market share dominance. They point out that due to competition, they expect the final price to hit Rs 40,000-50,000 crore.
Private equity players believe it to be lucrative to invest in designer labels.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
Practising Indira Gandhi's brand of socialism today will not just be anachronistic but also economically harmful.
Credit Vidya helps lenders assess credit and fraud risk for thin-file and new-to-credit customers.
Koo, which works on similar lines as Twitter, was born with a focus on regional language, unlike Twitter and Facebook, which are very popular but primarily cater to an English-speaking audience, reports Neha Alawadhi.
All major sectors -- real estate, e-commerce, IT, retail and consumer products, healthcare -- saw new all-time highs in value invested.
Company identifies areas like cognitive technologies, artificial intelligence, man-machine interface, robotics
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
The funds, some of which have invested in the NSE for almost a decade, want the exchange to list as soon as possible so that they can exit and pay back investors in their funds
MUDRA bank will help microfinancing firms to lend more.
In most cases, the payback on energy saving projects offered by GIBSS are between one and three years.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
Intel Capital, IBM, SAP Venture, Qualcomm Ventures increase India focus. July Systems, which developed a mobile broadband platform, has just received funding from Intel Capital.
In India, many cities lack bicycle lanes and proper pavements. This, coupled with heavily congested roads, creates a danger to cyclists. Furthermore, the low costs of bicycles may make it more economical to buy than to rent.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
Budget 2016 may hold some answers to start-up cooncerns.
YCook can add a year of shelf life to food without the side effects of chemical preservatives.
The new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country's first gaming unicorn.
In 2012, private equity investments touched $7.5 billion.
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
Hospitality firm OYO is looking to raise $600 million (over Rs 4,380 crore) in debt from the US institutional investors to service its existing loans, sources in know of the matter said on Thursday. The company is raising $600 million in a term loan B (TLB) structure, the sources said. The company is taking the TLB to service its existing loans which are on higher interest rates, they added.
Startups in India need low-cost debt for working capital, which is impossible to get.
A combination of bank guarantees, letters of credit, buyer's credit for computer servers have been provided to the two local operational arms by Kotak Mahindra Bank and Deutsche Bank.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
No major deals above the value of USD 300 million happened last month, causing the decline from January, which registered deals worth USD 3.5 billion, according to a report released by consultancy firm EY on Wednesday.
'One good thing that has come out of all this is that it shown people that online ordering is the way forward.'
Bulk of the medicine sales in the $22-24 billion domestic pharma market happens through offline retail chemists. With the entry of online pharmacies, this space has started to witness a shake-up. Sample this: Dawaa Dost, a Rajasthan based digital health start-up, generates medicine orders from 'kirana' stores and women self-help groups (SHGs) that operate in villages, and then service these orders through its affiliated network of pharmacies. Biddano, another health-tech start-up, has a platform that acts as an aggregator for neighbourhood chemist shops.
XTI Aircraft, a Denver, Colorado-based aerospace startup firm, launched an equity crowdfunding campaign.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
Banking sources said the debt recast is actually 'Plan B' to help the nation's largest retailer stay afloat.
Newly-formed Ascent Capital, which is a separate investment entity carved out of UTI Ventures, recently raised $350 million (Rs 1,575 crore) for its first fund.
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
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.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
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