Precipio Inc. Announces Resignation of CFO and Appointment of Interim CFO
Precipio Inc., Speciality Cancer Diagnostics Company, on Monday announced that Mr Carl Iberger, CFO of the company for the past five years, is resigning from his designation, effective as of 21 March 2022. Mr Iberger wishes to spend more time with his family, and therefore he has decided to step down from his role as…
abhinav singh
Reliance Retail Picks Up 89% Stake in Lingerie Brand Clovia
Reliance Retail Venture Limited acquired an 89% stake in women’s lingerie brand Clovia, owned and operated by Pankaj Panda fashion Private Limited. RRVL invested Rs. 950 Cr. in the company through a combination of secondary stake purchase and primary investment, as per the official statement. Clovia is launched in 2013 by Pankaj Vermani, Neha Kant…
Vipin
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…
SHAHID MUSHTAQ
‘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…
Vishal Prajapati
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,…
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…
Vikas
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…
John David