The India Cements Ltd on Wednesday said it has inked a strategic collaboration with technology start-up Tvasta Manufacturing Solutions, which specialises in construction of buildings using 3D printing application. The collaboration would see India Cements and Tvasta Manufacturing to engage in a dedicated research and development, synergetic exchange of technology-centric efforts to develop new raw [...]
Startup electric vehicle charging solutions provider Numocity on Wednesday said ABB's E-mobility division has acquired a controlling stake in the company for an undisclosed sum. With the acquisition, the current investors Ideaspring Capital and Rebright Pte Ltd will exit the company, Numocity said in a statement. Ideaspring Capital had led an investment in Numocity in [...]
Direct-to-consumer men's innerwear brand Almo on Wednesday said it has raised USD 2 million (over Rs 15 crore) in pre-Series A round funding led by Inflection Point Ventures. The funding round also saw the participation of other investors, including LetsVenture and AngelList India, the startup said in a statement. Almo said it intends to bolster [...]
Taxbuddy.com, an online tax advisory company started by a former Indian Revenue Service officer Sujit Bangar, on Wednesday said it has raised USD 2.10 million (about Rs 16 crore) in funding led by UAE-based fund Zenith Global. The company, launched in 2019 to offer subscription-based plans of tax advisory using automation technologies, will use the [...]
Domestic no-frills carrier SpiceJet said on Wednesday said it has signed and concluded the settlement and consent terms with Credit Suisse in a pending dispute with the latter. The settlement and consent terms, executed on May 23, have also been filed before the Supreme Court for final orders, the airline said in a statement. The [...]
Muthoot Finance on Tuesday said it will raise up to Rs 300 crore through a public issue of bonds. Announcing its 27th series of public issue of secured redeemable Non-Convertible Debentures (NCDs) of face value Rs 1,000 each, Muthoot Finance said the issue comprises base issue size of Rs 75 crore with an option to [...]
Aditya Birla Fashion and Retail Limited (ABFRL) on Tuesday said it will raise up to Rs 2,195 crore from Singapore's sovereign wealth fund GIC. The board of the Aditya Birla group firm has approved the proposal to raise Rs 2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, [...]
The Karnataka High Court on Monday extended the stay on the Enforcement Directorate's (ED) order of freezing Rs 5,551 crore in the bank accounts of Xiaomi India. Justice S G Pandit extended the stay till June 1, with the hearing of the case posted to that day. The ED froze Xiaomi's accounts on April 29 [...]
Maruti Suzuki India (MSI) on Monday said it will acquire an equity stake of 12.09 per cent in Sociograph Solutions Pvt Ltd (SSPL) for about Rs 2 crore. SSPL is an artificial intelligence (AI) software company that specialises in visual AI platform predominantly used to help enterprises improve sales experiences and improve efficiency in their [...]
Multi-channel automobile buying and selling platform, CarTrade Tech Ltd on Monday said it has entered into a strategic alliance with Cholamandalam Investment and Finance Co Ltd to offer easy and smart financing for used cars. Under the partnership, Cholamandalam Investment and Finance (Chola) will become the preferred financier for customers purchasing used vehicles from CarWale [...]
