Zomato Pick Up 16.66% Stake in Mukunda Foods
Zomato board on March 15 picked up a 16.66% stake in Mukunda Foods Private Limited for cash consideration of Rs. 37.5 crore. The acquisition will be made via a subscription of 13,289 convertible preference shares and 10 % equity shares. Zomato said in a regulatory filing, “We are glad to inform that our board of…
John David
‘No Chance Of Data Leak’ Stated Paytm Payments Bank
Recent reports have increased the trouble of digital payment giant, ‘Paytm’, stating that they are leaking data of their customers to Chinese firms. RBI has restricted the Paytm Payments Bank to include new customers, due to the reports that suggest data leaks from Paytm to Chinese firms. The Reserve Bank Of India has also called…
Yash Sharma
Sachin Bansal’s Navi Technologies Files $400 Million IPO
Sachin Bansal’s Navi Technologies, a fintech startup, has filed for a $400 million IPO, Initial Public Offering. Billionaire Bansal, who also co-founded Flipkart over a decade ago, is the 40-year-old entrepreneur who made his name and money by kick-starting the eCommerce wave in the country, has once again made a bold choice. Founded in 2018,…
Vipin Kumar
Colgate Announced Appointment of Prabha Narasimhan as CEO
Oral care company Colgate-Palmolive (India) Ltd. on Thursday has announced the appointment of Prabha Narasimhan as Managing Director and Chief Executive Officer of the company. She is replacing Ram Raghavan who is set to move to a global role. The makers of Colgate toothpaste and Palmolive hand wash said the nomination and remuneration committee of…
LIC: SEBI Gives Nod to Launch India’s Highest IPO Ever
The market regulator has approved the much-awaited IPO of 2022. According to the sources, SEBI has issued an observation letter. LIC had filed it’s Draft Red Herring Prospectus (DRHP) with SEBI in February. As per DRHP, the issue would be an offer to sell 31,62,49,885 (31.62 crores) equity shares by the government, which holds a…
Indian Govt Amending Budget Plans Amist Russia-Ukraine War
Budget 2022-23 was launched in February, which came with lots of hopes, including boosting employment, strengthening infrastructure, and a lot more. But the Russia-Ukraine war could impact India’s spending plans. As per the reports, India is likely to be affected by the Russia-Ukraine war following a surge in global prices of commodities. The Indian govt…
Himanshu
Rupee Plunged To A Record Low – Fuel Price In India Is Expected To Rise
The Indian Rupee has dived a record low of 77.02 against a US dollar on Monday, and as per a poll conducted by Economic Times, it is further expected to plunge around 80 in the next few days. This record decrease in Rupee’s value is a consequence of the crude oil hike in the global…
CredAvenue Enters Unicorn Club After Raising $137 Million
CredAvenue, an online debt marketplace, has become another Unicorn of 2022 after raising $137 million in a Series B funding round. The company said that ━ it is now valued at $1.3 billion, more than tripling its valuation in just six months, making it India’s fastest fintech unicorn. The funding was led by New York-based…
Burman’s Group To Take Control Of Eveready As Khaitan’s Quit
Eveready Industries Chairman and Managing Director, Aditya Khaitan and Amritanshu Khaitan, announced their resignation after Burman Group takeover the bid. The resignation of the Khaitans came two days after the Burman’s, founder of Dabur, a food company, made an open offer for a Kolkata-based dry cell company. After their resignation, Suvamoy Saha is assumed to…
Russia-Ukraine War: Shares Rebounded, Crude Oil Surged $110/bbl
Russia-Ukraine War – Day 8 – The war has shaken the whole world, from the global stock market to transportation. US and European stocks, which have fallen a few days back, rebounded on Wednesday, but crude prices surged past $110 a barrel as fighting raged in Ukraine for the seventh day, posing a challenge for…
