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Telangana, K’taka & Andhra Pradesh Offer Land Parcels To Woo Foxconn
At least three different state governments in South India are reportedly offering sops and land parcels to electronics manufacturer Foxconn to set up a facility in their respective regions. Telangana...
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Govt Greenlights INR 50 Lakh Grants Each For 4 Technical Textile Startups
The Ministry of Textiles on Tuesday (August 27) approved grants of nearly INR 50 Lakh each for four startups under the grant for research & entrepreneurship across aspiring innovators in technical...
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Tencent To Offload 2.1% Stake In PB Fintech For INR 1,610 Cr
Chinese tech giant Tencent reportedly plans to offload 2.1% stake in insurtech major PB Fintech in a block deal pegged at over INR 1,610 Cr. As per ET Now, Tencent will likely sell the shares at INR...
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HDFC Bank Launches Payment Gateway To Digitise Overseas Education Remittances...
HDFC Bank has launched an “edtech” platform for students studying abroad. The new platform will serve as a payment gateway for students pursuing education overseas. In a statement, the bank said that...
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Global Fintech Fest 2024: RBI Governor Launches UPI Circle, Bharat BillPay...
Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday (August 28) announced the launch of two new fintech products on the first day of the Global Fintech Festival 2024. UPI Circle and...
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WazirX Files Moratorium Application Before Singapore Court
Hit by a $230 Mn crypto heist last month, crypto exchange WazirX on Wednesday (August 28) said it has filed an application with a Singapore court seeking moratorium. In a blog post, the company said...
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Startups Built Atop India’s Digital Public Infra Pegged At $100 Bn: Nandan...
Infosys cofounder and non-executive chairman Nandan Nilekani has said that startups built on top of India’s digital public infrastructure are valued north of $100 Bn. “The estimate is that the market...
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Hitachi Unveils Android-Based Cash Recycling Machine To Provide Digital...
Hitachi Payment Services, the fintech arm of the Japanese conglomerate, has launched India’s first Android-based cash recycling machine (CRM), which functions as a digital banking unit (DBU). The new...
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Prioritise Social, Macroeconomic Factors Above Business Interests: RBI Dy Guv...
Reserve Bank of India (RBI) deputy governor T Rabi Sankar has said that fintech startups should prioritise social and macroeconomic interests over their business interests. Speaking at the Global...
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Zepto Raises $340 Mn In Follow-On Financing Round, Valuation Soars To $5 Bn
Quick commerce unicorn Zepto has raised $340 Mn (about INR 2,850 Cr) in a ‘follow-on financing’ round, led by General Catalyst, at a valuation of $5 Bn. The round also saw participation from new...
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After CCI, NCLT Greenlights $8.5 Bn Reliance-Disney India Merger
After Competition Commission of India (CCI), the National Company Law Tribunal (NCLT) also greenlit the merger deal between Reliance-owned Viacom18 and Disney India on Friday (August 30). “From the...
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Banks Will Lose Opportunities If They Don’t Work With Fintechs: Axis Bank MD
Axis Bank managing director (MD) and CEO Amitabh Chaudhry on Friday (August 30) said that banks will lose out on opportunities if they do not work with fintech startups. “They (fintech platforms) are...
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Infra.Market Lines Up 8 Investment Bankers For $700 Mn IPO
B2B ecommerce marketplace Infra.Market has reportedly lined up as many as eight investment banks to helm its $700 Mn initial public offering (IPO). The startup has shortlisted Kotak Mahindra Capital,...
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Indian Startup IPO Tracker 2024
It’s the season of spring for startup IPOs. After a lull in IPOs in 2022 and 2023 due to geopolitical tensions, a raging funding winter, and macroeconomic pressures, startups are lining up in droves to...
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Zomato, Paytm & JFS May Enter F&O Segment After SEBI’s New Entry & Exit...
Brokerage firm Nuvama believes that the new exit and entry criteria for stocks in the derivatives market may pave the way for new-age tech stocks such as Zomato, Paytm and Jio Financial Services (JFS)...
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Rebel Foods FY24: Net Loss Nearly Halves To INR 378 Cr, Revenue Up 19% YoY
Cloud kitchen unicorn Rebel Foods narrowed its net loss by 42% to INR 378.2 Cr in the fiscal year 2023-24 (FY24) from INR 656.5 Cr in the previous fiscal year. The Faasos-parent trimmed its loss on the...
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After Big B, Hindustan Composites Picks Up Stake In IPO-Bound Swiggy
Listed auto ancillary company Hindustan Composites on Monday (September 2) said it has signed a share purchase agreement to acquire a stake in IPO-bound foodtech major Swiggy for INR 5.175 Cr. In a...
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Explained: India’s Ambitious INR 2,817 Cr Digital Agriculture Mission
After a delay of more than three years, India’s Digital Agriculture Mission (DAM) is finally shaping up. The Union Cabinet has approved the INR 2,817 Cr mission for the creation of Digital Public...
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Centre Launches INR 750 Cr AgriSURE Fund To Back Agritech Startups
The union agriculture ministry on Tuesday (August 3) launched an INR 750 Cr ‘AgriSURE’ fund (Agri Fund for Start-ups & Rural Enterprises) to back agritech and rural area-focussed startups. The...
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BYJU’S Resolution Professional Ousts Glas Trust From Committee Of Creditors
The insolvency resolution professional (IRP) of BYJU’S has reportedly ousted Glas Trust Co, a consortium of the troubled edtech startup’s US-based lenders, from the committee of creditors (CoC). IRP...
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