The company, which claims to have an annual revenue rate of US$7 million and is targeting to touch US$35 million in 2022, will also be investing in creator growth and monetisation opportunities.
Adani Enterprises Ltd, the flagship incubator of billionaire Gautam Adani's conglomerate, on Thursday reported a 37 per cent drop in March quarter net profit, bogged down by one-time past airport dues and commercial mining losses. Its consolidated net profit of Rs 450.58 crore in January-March - the fourth quarter of fiscal year 2023-24 - compares to Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a stock exchange filing by the company.
Diversified business group Godrej Industries has set up a $50 million venture capital fund along with a set of individuals to invest in agri start-ups.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
The venture capital industry is optimistic about renewed investments this year, with focus shifting primarily to the green technology sector, a survey by global consultancy KPMG LLP said.
Renuka Ramnath is credited with raising the India Advantage Fund Series II, the country's largest private equity fund till date with a corpus of $810 million.
Tata Motors reported a consolidated net profit of Rs 17,483 crore (adjusted for exceptional gains and losses) for Q4FY24, surpassing TCS' consolidated net earnings of Rs 12,434 crore. For the automotive major, this marked a 213.7 per cent year-on-year increase in the bottom line, from Rs 5,573.8 crore a year ago. In contrast, India's biggest IT firm saw a more modest Y-o-Y growth of 9.1 per cent in net profit, from Rs 11,392 crore.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
Mukesh Ambani is planning to provide Rs 1000 crore seed capital to kick-start a new venture that would invest in innovative business ideas, including in technology and healthcare segments. Ambani, who heads the country's most valued corporate entity Reliance Industries, will probably make this investment of about USD 250 million in his individual capacity, sources close to the development said.
'...similar to the 2008 global financial crisis, the 2012 taper tantrum, or the 2018 midcap crash.' 'This could lead to a substantial decline in activity and revenues for the broking industry.' 'When this will happen is uncertain, but as brokers, we must be prepared for such a downturn.'
Amid oxygen shortage and a faltering health system in the country, India is seeing over 300,000 cases daily.
Murthy is launching an online market place for healthcare products.
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.
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.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
Reddy, who was an accused in a money-laundering case linked to the alleged liquor scam in Delhi, had turned an approver in the case that is being probed by the Enforcement Directorate (ED). The CBI is yet to file a chargesheet against him.
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
If you are an entrepreneur and apprehensive that the global market meltdown will strain your fund-raising plans, fear not. India-focused private equity and venture capital funds raised $7 billion (Rs 27,958 crore) in 2007, excluding real estate, last year. They had garnered a similar amount in the corresponding previous year, according to data from Venture Intelligence, a venture capital research company.
'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'
Tourist centres have been closed in many districts, including Kottayam and Thiruvananthapuram, and a night travel ban has been imposed in the hilly areas of Idukki district.
Investments by private equity and venture capital funds into Indian entities fell by 69 per cent to $3 billion during July, a report said on Wednesday. The investments in July are the lowest for any month in a year, and lower than the $4.9 billion recorded across 118 deals in the preceding month of June, the report by industry lobby IVCA and consultancy firm EY said. Going by the number of deals, July 2022 recorded 74 deals, as against 134 deals in the year-ago period, the report said.
Riding on a buoyant economy, bullish stock market and relatively stable political climate, India is poised to corner about $750 million of venture capital in 2003.
Kishore Biyani, the founder of Future Group, is treading cautiously with the initial public offer of his venture capital arm, Future Ventures, this time.
In his new role, Ganguly will work closely with the team's head coach Ricky Ponting.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
Pharma major, Dr Reddy's Laboratories Ltd on Wednesday said it will form an integrated drug development company 'Perlecan Pharma Pvt Ltd' with an equity capital of $52.5 million from two venture capital investors.
Alternative investment funds (AIFs) - pooled investment vehicles catering to high net worth individuals (HNIs) - saw a 30 per cent increase in investment commitments during financial year 2022-23 (FY23). At the end of March 2023, the total investment commitments raised stood at Rs 8.33 trillion, up Rs 1.92 trillion from Rs 6.41 trillion at the end of March 2022. A commitment is the money clients are willing to put into AIFs.
The CEOs have been discussing a collaboration for some time, according to two people with knowledge of the situation.
'It is a worrying trend as we are not seeing too much fresh capital being raised for new projects, plants, expansion or diversification. It's just private equity or venture capital or promoters cashing out.'
The service, which enables users to form communities and blog using their mobile phones and has a user base of 12 million, has received the investment from venture capital funds Helion Ventures and Charles River Ventures. The funds will be used to fund business growth, product development and increased sales and marketing, said Rakesh Mathur, CEO and co-founder of SMS GupShup.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
Funds will invest in new technology companies involved with climate change mitigation.
'Elections and audience interest in specific movies are often independent factors.'
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."
Over the past eight months, a team of 80 people has been diligently working to harmonise operating procedures across four airlines run by the Tata group, as part of two mergers, revealed Campbell Wilson, Air India's chief executive officer (CEO), on Friday. The Tata group is consolidating its aviation business by merging four airlines into two: Air India and Vistara are merging to form a single full-service carrier, while AIX Connect and Air India Express are combining to create a unified low-cost carrier (as a subsidiary of Air India).
SBI Life Insurance is a joint venture between SBI and BNP Paribas Cardif.
Delhi Capitals chief executive officer Dhiraj Malhotra and assistant coach Mohammad Kaif shared their thoughts, having met their players after a long time.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
Plans another $1-billion fund, wants to expand core team in India.
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