Swiggy Crossed $10.7 Billion Valuation After Raising $700 Million in Invesco
Food delivery giant, Swiggy, has raised $700 million in Invesco and crossed a $10.7 bn valuation, according to the sources. Swiggy’s latest valuation is almost double to Zomato before the latter went for its initial public offering. Zomato was valued at $5.4 billion before its IPO. With this new funding, Swiggy also came closer to…
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Jio-BP To Partner With Mahindra For Low-Carbon EV, Signs MoU
Jio-BP and Mahindra Group have teamed together to investigate battery swapping technologies for electric three-wheelers, as well as Mobility as a Service (MaaS) and Battery as a Service (BaaS). Reliance BP Mobility Limited (RBML), which operates under the Jio-BP brand, signed a non-binding Memorandum of Understanding (MoU) with the Mahindra Group today. With this MoU,…
RIL Partners With Abu Dhabi Chemical Firm For A $2 B Venture
The state-owned chemicals derivatives firm (TA’ZIZ) of Abu Dhabi and Reliance Industries, headed by billionaire Mukesh Ambani, have agreed to create a $2 billion chemical manufacturing cooperation in Ruwais, Abu Dhabi. According to a regulatory filing made today to the stock markets by Reliance Industries, the joint venture, known as ‘TA’ZIZ EDC & PVC,’ would…
Tata Power Received LOA For A 945 Crore Solar Energy Project
December 2, 2021 Solar Energy Corporation of India (SECI) has awarded an LOA (Letter Of Award) to Tata Power to develop a 100 MW EPC solar plant with a 120 MWh utility-scale Battery Energy Storage System. According to a statement released by Tata Sons on Wednesday, the project’s entire contract value is around 945 crore,…
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Dhirubhai Ambani Success Story: The Man Who Rose From Ashes
“If you don’t build your dream, someone else will hire you to help them build theirs.” This Dhirubhai Ambani quote is so inspiring and motivational that it constantly forces us to get up and chase our dreams. Today we will talk about the most inspiring success story of the man who rose from ashes –…
India’s MCap Increases By 2x In 18 Months, Escalates To 3.5 Trillion
The strong bull run revives the stress that investors had in late March when global investors were frightened about the economic setbacks due to the Covid-19 pandemic surging to the market. India’s Market Capitalization jumps over 3.5-trillion—almost double from about 1.3-trillion then in March. Several factors contributed to this record-breaking history in the global market,…
Airtel Laden With Massive Debt, Won’t Hang Back From Price Hiking: Sunil Mittal
Bharti Airtel founder and CEO Sunit Mittal stated on Monday that the telecom company has been “laden with extraordinary debt”, and for this reason, the company won’t shrink back from raising tariffs. During an investor call, Mittal also said that he is still favouring the monetisation of assets but at the right time. “Airtel is…