Currently, most crowdfunding platforms neither operate with proper authorisation nor are governed under any law.
The company, started by three BITS Pilani graduates in 2005, could be planning to aggressively scale up its business to tap the untapped potential that the bus-booking service offers in India.
The idea behind starting Chingari is not to build a TikTok clone but to position itself as a super app for India like WeChat.
The industry is looking at a promising 2016, though experts and even the investors anticipate correction on the valuation side
Market breadth depicted gains with 1,476 advances over 1,403 declines on the BSE. 140 stocks remained unchanged.
Incentives for industries have been rolled back and teachers have gone without salary for months as the state grapples with the after-effects of the ban
'Expectations were being built up about radical moves and the action plan did not disappoint.'
Should we really pay attention to them, asks Ajit Balakrishnan.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
BigBasket co-founder Abhinay Choudhari has exited the company, and in his next entrepreneurial journey, he is looking to "solve another equally painful chore for many Indian households" after grocery shopping. The Tata group acquired a majority stake in the online grocery store in May. And when the deal happened, Choudhari decided he won't continue to be part of the management team.
In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
Naukri.com founder Sanjeev Bikchandani shares his inspiring journey from zero to the top and the lessons he learned along the way.
The logistics segment is becoming a hot favourite of private equity, of late.
Mumbai-based LocalBanya is looking to expand to Pune and Delhi as part of its growth strategy.
'Rahul inspired Indian industry with an ethos, an ethos of being more confident, more independent, more thorough, more competitive, more generous, more public-spirited, and more national and more international all at once,' remembers Naushad Forbes.
According to experts, the banning of the apps has created negative sentiments and reduced the confidence among the Chinese investors to invest in India.
Embattled businessman Vijay Mallya on Tuesday lost a legal battle to hold on to his plush London home after a British court refused to grant him a stay of enforcement in a long-running dispute with Swiss bank UBS. The 18/19 Cornwall Terrace luxury apartment overlooking Regent's Park in London, described in court as an "extraordinarily valuable property worth many tens of millions of pounds", is currently being occupied by Mallya's 95-year-old mother Lalitha. Delivering his judgment virtually for the Chancery Division of the High Court, Deputy Master Matthew Marsh concluded there were no grounds for him to grant further time for the Mallya family to repay a 20.4-million loan to UBS - the claimant in the case.
In the first of a four-part series, Claro Energy co-founder Kartik Wahi takes you through his entrepreneurial journey
India was among the top-five economies with the largest general government capital stock level, said, in 2015, an International Monetary Fund report called "Making Public Investment More Efficient". The report fuelled a debate on countries sitting on piles of cash that could be used better. India was believed to have public assets worth $4.5 trillion. The report urged countries to start asset recycling. Six years after the report, Australia's success in asset recycling has turned India into a believer; despite doing averagely in its previous efforts on roads, railways or meeting its divestment targets.
According to the RBI proposal, companies can now take the ECB route for raising 10-year funds which is capped at five years now.
'We can go somewhere between 35 per cent and 40 per cent.'
Gadkari said the NHAI was working on setting up an InvIT to monetise its projects for mobilising resources through capital markets.
However, that could only be for sectors where 100 per cent FDI is allowed under the automatic route and pose no risk to national security.
Tata Communications has elected the private equity (PE) veteran as a successor to Subodh Bhargava.
The unprecedented health crisis forced an indefinite shutdown of all sports activities -- both contact and non-contact. The FICCI said non-contact sports can resume first by maintaining social distancing norms.
Total exit value breached the $10 billion mark for the first time to touch $10.3 billion this calendar, from $9.4 billion in 2015
Adding a new dimension to its business, the Mukesh Ambani-led Reliance Life Sciences announced on Thursday its partnership with US-based global investment management firm, MPM Capital LP.
The strong domestic growth for new vehicle sales during 2008-12, which witnessed a compounded annual growth rate of 14 per cent, led to an increased inventory of used cars, thanks to trade-ins.
M&M, which owns a 75 per cent stake in SYMC, rescued the sport-utility vehicle (SUV) maker from near-insolvency in 2010 but has struggled to revive its fortunes.
This e-series funding round also makes OYO the most valued hospitality company in the country, ahead of the Tata group's Indian Hotels Company, which owns the Taj brand of hotels, and EIH, which owns the Oberoi brand of hotels.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
The 'angel tax' and notices to start-ups and angel investors from the income tax department was certainly a dampener. However, a bigger factor is the lack of exits.
It's also among the top five most valuable Internet companies in India, reports Yuvraj Malik.
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
Even as the gaming industry battles multiple regulations in different Indian states, it has received more than double the amount of investment this year compared to 2020. Industry watchers attribute this to the growing popularity of gaming, spurred by the pandemic, and the innovative business models gaming firms have built. According to data from industry tracker Venture Intelligence, investment in India's gaming sector in 2021 has more than doubled to $794 million, as against a total investment of $339 million last year. In 2019, this number was $176 million. Marquee investors such as Tiger Global (Dream11), Sequoia Capital India (Mobile Premier League), WinZO (Griffin Capital Partners), Tencent (Dream11) and Matrix Partners (Zupee) have pumped money into the sector.
Olympus Capital, UTI's PE arm to fund Rs 400 crore.
Even retail investors are talking about investing in start-ups.
Enforcement Directorate sources tell Vicky Nanjappa/Rediff.com that the probe into FDI received by Flipkart continues and a show cause notice will be issued to the online retailer.
VCs say soft skills is one aspect they look at before investing.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
