Jaipur, Apr 25 (PTI) The Rajasthan Venture Capital Fund (RVCF) has exited Mumbai-based fintech startup Mosambee with a 19 times jump in returns. RVCF, supported by Rajasthan State Industrial Investment and Investment Corporation (RIICO) and other institutions, had invested Rs 5.25 crore in Mosambee in 2015 and 2016 in the form of equity. Singapore-based Pine [...]
New Delhi, Apr 25 (PTI) IT company Cyient will acquire global plant and product engineering services company Citec for about Rs 800 crore to strengthen its business offerings. Citec was founded in 1984, as an international plant and product engineering services company serving customers across the energy, mining, process, oil and gas, and manufacturing industries. [...]
NBFC Religare Enterprises Ltd (REL) on Sunday said it has paid Rs 5.41 crore to market regulator Sebi to settle its past cases. In order to settle another legacy issue and keep REL growing as per its plans, it had submitted an application for settlement under the SEBI (Settlement Proceedings) Regulations, 2018 without admission or [...]
Mumbai, Apr 24 (PTI) The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of Lucknow-based Indian Mercantile Cooperative Bank on April 27, according to a notice. Depositors of Beed-based Dwarakadas Mantri Nagari Sahakari Bank will get payments on June 6. DICGC, a wholly-owned subsidiary of the RBI, provides [...]
New Delhi, Apr 24 (PTI) WhiteOak Capital Asset Management, a new entrant to the mutual fund space, is looking to open nearly 100 branches across the country in the next 12-18 months. Also, the company has lined up six different mutual fund products with the first being a flexi-cap fund, followed by an emerging markets [...]
New Delhi, Apr 24 (PTI) State-owned Oil and Natural Gas Corporation (ONGC) has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and [...]
New Delhi, Apr 24 (PTI) Ola Electric is recalling 1,441 units of its electric two-wheelers in the wake of incidents of vehicles catching fire, according to a company statement. The company said its investigation into the fire incident on March 26, in Pune, is ongoing and preliminary assessment found that it was an isolated one. [...]
Mumbai, Apr 23 (PTI) Vishakha Mulye, an ICICI Bank veteran, will take over as the chief executive of Aditya Birla Capital, the non-bank lender said on Saturday.Mulye, who was the executive director of ICICI Bank in charge of the wholesale banking portfolio, will take over her role on June 1, as per an announcement by [...]
New Delhi, Apr 23 (PTI) HDFC Bank on Saturday declared a 1550 per cent or 15.50 per share dividend to its shareholders for the financial year 2021-22. The board at its meeting has recommended a dividend of Rs 15.50 per equity share of Re 1 (1550 per cent) out of the net profits for the [...]
New Delhi, Apr 23 (PTI) Torrent Power has inked a share purchase pact to acquire 100 per cent equity in a 50 MW solar plant of SkyPower Group at an enterprise value of Rs 417 crore. Torrent Power Ltd has entered into a Share Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments Limited and [...]
