New Delhi, Jan 19 (PTI) Tech-based intra-city logistics company Porter on Wednesday announced its maiden Employee Stock Ownership Plan (ESOP) monetisation programme worth USD 5 million (about Rs 37.2 crore) for its eligible current and former employees. The liquidation opportunity, which will be open for participation through next week, is expected to benefit both the [...]
New Delhi, Jan 19 (PTI) BharatPe co-founder and managing director Ashneer Grover, who was recently embroiled in a controversy over purportedly using abusive language against Kotak Mahindra Bank staff, has taken a voluntary leave till March-end, as per a statement issued by the fintech company on Wednesday. Grover informed the company's board about his decision [...]
New Delhi, Jan 19 (PTI) Digital wealth manager Scripbox on Wednesday said it has raised USD 21 million (about Rs 150 crore) in a combination of equity and debt through Series-D funding led by Accel Partners.The funding round also saw participation from Transpose Platform, DMI Alternative Investment Fund - The Sparkle Fund, InnoVen Capital, Trifecta [...]
New Delhi, Jan 19 (PTI) B2B services rental startup Settlrs on Wednesday said it has raised USD 1 million (over Rs 7 crore) fund from Canbank Venture Capital Fund Ltd and other investors.The startup -- incubated at NSRCEL, IIM Bangalore (IIMB) -- said the other investors are Vinod Jain Family Office, MaGeHold Pte Ltd, JN [...]
New Delhi, Jan 19 (PTI) Reliance Retail had acquired about 55 per cent stake in robotics firm Addverb Technologies in July 2021, Indian conglomerate Reliance Industries Limited said in a filing on Wednesday. Addverb Technologies co-founder and CEO Sangeet Kumar has told PTI that Reliance Retail has invested USD 132 million (about Rs 983 crore) [...]
Chennai, Jan 19 (PTI) Cholamandalam Investment and Finance Company Ltd, the financial services division of diversified conglomerate Murugappa Group, on Wednesday said it has launched three new business divisions under the consumer and SME business. The Chennai-based leading player in vehicle finance, loan against property, and housing finance business, said it has entered into an [...]
New Delhi, Jan 19 (PTI) The National Company Law Appellate Tribunal (NCLAT) has approved ArcelorMittal India's takeover bid for Odisha Slurry Pipeline Infrastructure Ltd (OSIL), after it dismissed a batch of appeals filed against the L N Mittal-owned unit's resolution plan for the loan defaulter firm. A two-member Bench, comprising Jarat Kumar Jain (judicial member) [...]
New Delhi, Jan 19 (PTI) Dileep Sanghani has been elected as chairman of the Indian Farmers Fertiliser Cooperative (IFFCO). The election was held on Wednesday, IFFCO said in a statement. These elections were held due to the demise of incumbent Chairman Balvinder Singh Nakai earlier on October 11, 2021. The elected board of directors of [...]
Mumbai, Jan 19 (PTI) The Forum for Companies Under the Resolution Process (FCRP), a grouping of businessmen, has raised concerns about an EY top executive being the resolution professional for the Srei group, which is undergoing RBI-mandated insolvency proceedings, saying his appointment "reeks of conflicts of interest". Abizer Diwanji, a partner and national leader for [...]
New Delhi, Jan 19 (PTI) Lummo (previously known as BukuKas) on Wednesday said it has raised USD 80 million (about Rs 595.8 crore) in funding led by Tiger Global and Sequoia Capital India.Other global tech and e-commerce investors such as CapitalG (independent growth fund of Google parent company Alphabet); NuvemShop CEO Santiago Sosa; and former [...]
