Latest News on Corporate Actions

DEHRADUN, India, April 12, 2022 /PRNewswire/ -- Founders Shikha Prakash and Robin Nagar were appalled when they discovered that farmers in Uttarakhand were walking miles downhill to barter 5 kg Ghee for 5 kg salt because of pure innocence and sheer ignorance. Hoping to make an impact on the lives of these farmers and also [...]

New Delhi, Apr 12 (PTI) The Delhi High Court on Tuesday agreed to hear Tata Power Delhi Distribution Ltd in connection with BSES Rajdhani Power Limited's challenge to an order of the Ministry of Power on the transfer of power generated by a Dadri thermal station from the national capital to Haryana. Justice Yashwant Varma [...]

New Delhi, Apr 12 (PTI) India's busiest ports at Kandla in Gujarat and Mumbai are further clogged with LPG import vessels as the state-owned oil companies refuse to go beyond a small list of ports that have been designated by the government to give freight subsidies for bringing in the cooking fuel from overseas, sources [...]

New Delhi, Apr 12 (PTI) ADB Ventures, a platform of Asian Development Bank, has provided seed funding to Pinbox for expanding micro pension coverage in India. Pinbox works to address friction and accessibility challenges in delivering micro pension and insurance solutions to underserved informal sector workers, ADB Ventures said in a statement. It provides a [...]

New Delhi, Apr 12 (PTI) Cartelisation across borders in containers, chemicals and key raw materials are making things uncertain and forcing customers to pay higher prices, CavinKare Chairman & Managing Director C K Ranganathan said on Tuesday. Ranganathan, who is also the President of All India Management Association (AIMA), pointed out that earlier cartelisation used [...]

Mumbai, Apr 12 (PTI) Mahindra & Mahindra on Tuesday said it has partnered with CSC Grameen eStore, a government initiative, for its Small Commercial Vehicle (SCV) range of products. The partnership will harness CSC Grameen's digital platform to facilitate Mahindra vehicle enquiries and real time online lead transfer to M&M from deep rural pockets, the company [...]

New Delhi, Apr 12 (PTI) Vice President M Venkaiah Naidu on Tuesday pitched for increasing cotton production and said India will benefit giving more thrust to specialty cotton such as organic cotton and sustainable cotton. Asserting that India must also improve its planting density which is only at 5000-7000 plants per acre compared to China [...]

New Delhi, Apr 12 (PTI) The government has nominated new directors on the boards of Punjab National Bank (PNB) and IDBI Bank, following the cessation of the terms of incumbent directors. Pankaj Sharma has been nominated as a director of the bank through a notification dated April 11, 2022 with immediate effect and until further [...]

MUMBAI, India, April 12, 2022 /PRNewswire/ -- La Tim Metal & Industries (BSE: LATIMMETAL) (Script Code # 505693), a listed company in the steel trade since 1987, dealing with Colour Coated Steel Sheets, announced that subsequent to their Board of Directors meeting held on 8th April 2022, they have considered and approved a stock split. [...]

New Delhi, Apr 12 (PTI) Alembic Pharmaceuticals Ltd on Tuesday said its wholly-owned arm, Aleor Dermaceuticals Ltd, has received final approval from the US health regulator for its generic version of Lidocaine and Prilocaine cream, indicated as a topical anesthetic. The final approval granted by the US Food & Drug Administration (USFDA) is for its [...]

New Delhi, Apr 12 (PTI) The number of patent filings increased from 42,763 in 2014-15 to 66,440 in 2021-22 due to steps taken by the government to strengthen intellectual property rights (IPR) regime of the country, the commerce and industry ministry said on Tuesday. It also said India granted 30,074 patents in 2021-22 as compared [...]

New Delhi, Apr 12 (PTI) Mahindra Lifespace Developers Ltd, the realty arm of Mahindra Group, on Tuesday announced an investment of Rs 500 crore to develop India's first net-zero energy housing project, comprising around 550 units, in Bengaluru. The company also announced that it will develop only net-zero housing projects from 2030 onwards, and the [...]

Mumbai, Apr 12 (PTI) Welspun Logistics Parks (WOLP) on Tuesday said it has handed over a 3.7-lakh sq ft warehousing facility in Bhiwandi to third-party logistics company FM Logistic for operations. The facility, developed by WOLP, was delivered as per agreed timelines, despite pandemic-related disruptions, it said in a release. The Bhiwandi Warehousing unit that [...]

Bangalore, Karnataka, India – Business Wire India • Funding round is led by Kalaari Capital. Aflac Ventures, Digital Horizon, Stride Ventures, and existing investors also participated in the round • Funds will be used to strengthen full-stack and value-driven chronic care ecosystem, accelerate market expansion, customer acquisition, building new revenue streams • Increases PhableCare’s valuation [...]

Washington, Apr 12 (PTI) India and the US have agreed to hold a dialogue on artificial intelligence to harness opportunities for joint innovation and cooperation in new domains, the two countries announced after the 2+2 ministerial.Secretary of State Tony Blinken and Defence Secretary Lloyd Austin hosted the fourth 2+2 ministerial dialogue with Defence Minister Rajnath [...]

• Srishti Dhir comes with a rich, deep experience from the finance industry, entrepreneurship and business execution • One of the key focus areas for Srishti at growx ventures will be to drive deeper founder and LP engagement MUMBAI, India, April 12, 2022 /PRNewswire/ -- growx, one of India's oldest early-stage investors in the B2B [...]

Mumbai, Apr 11 (PTI) Global advisory, broking and solutions company Willis Towers Watson (WTW) on Monday said it has acquired the remaining 51 per cent shares in Willis Towers Watson India Insurance Brokers Private Limited (WTW India) following the approval of insurance regulator IRDAI. WTW, which owned 49 per cent stake in WTW India, bought [...]

New Delhi, Apr 11 (PTI) The CBI has questioned YES Bank founder and its former CEO and MD, Rana Kapoor in connection with alleged diversion of over Rs 466 crore in the bank during 2017-19 by Avantha group promoter Gautam Thapar, officials said.Although Kapoor is not named as an accused in the CBI FIR pertaining [...]

Chennai, Apr 11 (PTI) A city-headquartered IT firm on Monday gifted 100 cars to as many of its employees in recognition of their constant support and 'unparalleled' contributions to the company's success and growth. Gayathri Vivekanandan, Chief Executive Officer, Ideas2IT, gifted Maruti Suzuki cars to 100 employees in the presence of Murali Vivekanandan, founder-chairman of [...]

Mumbai, Apr 11 (PTI) Godrej Industries Ltd (GIL) on Monday announced the launch of Godrej Capital (GCL), the financial services arm of the group. GCL is the holding entity for Godrej Housing Finance, a housing finance company and Godrej Finance Ltd, which is an NBFC (Non-Banking Financial Company). The Group plans to invest Rs 5,000 [...]

New Delhi, Apr 11 (PTI) State-owned NBCC (India) Ltd has received work orders to protect defence lands, mainly by constructing boundary walls. The work orders have been awarded to the company by the Directorate General Defence Estates (DGDE), according to a company statement on Monday. A Memorandum of Understanding (MoU) was signed between Satyam Mohan, [...]

Mumbai, Apr 11 (PTI) A private equity fund manager sponsored by the Oman Investment Authority and State Bank of India on Monday said it has invested Rs 75 crore in Kolkata-based jewellery retailer Senco Gold. The investment of Rs 75 crore by Oman India Joint Investment Fund II (OIJIF II) will be through equity for [...]

New Delhi, Apr 11 (PTI) US-based real estate firm Hines has tied up with DNR group to develop a premium commercial project in Bengaluru comprising two million square feet of leasable area. This is the second office project being developed by both the companies in partnership with each other. The project 'DNR Nagavara' will be [...]

New Delhi, Apr 11 (PTI) Global investment firm KKR will acquire close to 10 per cent stake in Shriram General Insurance Company, a statement said. Shriram General Insurance (SGI) is backed by Shriram Group and pan-African financial services group Sanlam.Definitive agreements were signed on Monday between KKR, SGI and Sanlam under which KKR will acquire [...]

Mumbai, Apr 11 (PTI) Electric two-wheeler maker Batt:RE has partnered with Royal Challengers Bangalore as the latter's official EV partner for the ongoing 15th edition of the Indian Premier League (IPL), a statement said on Monday.      The partnership will include distribution of signed team merchandise and memorabilia along with jerseys and bats. Besides, it will also [...]

Mumbai, Apr 11 (PTI) The Indian subsidiary of the US-based helicopter transport firm BLADE has joined hands with Lexus, which is the luxury car arm of Japanese auto major Toyota, to offer travellers premium mobility services. The partnership includes BLADE collaborating with Lexus to provide on-ground Lexus vehicle experience to the flyers across its routes in [...]

New Delhi, Apr 11 (PTI) Baba Ramdev's Ruchi Soya Industries on Monday said it will evaluate the most efficient mode to merge Patanjali Ayurved Ltd's food portfolio with itself and has also decided to change the name of the company to Patanjali Foods Ltd. Ruchi Soya has recently raised Rs 4,300 crore through its Follow-on [...]

New Delhi, Apr 11 (PTI) Edtech company Byju's on Monday announced the appointment of Vedhanarayanan Ganeshkumar as Vice-President Technology.Vedhanarayanan will play a key role in accelerating critical technologies to scale Byju's tech and innovation prowess, the company said in a statement.The company said it has appointed Amazon tech veteran Vedhanarayanan as Vice President Technology."This new [...]

New Delhi, Apr 11 (PTI) Startup YOUKRAFT, an online marketplace for interiors and construction industry, on Monday said it has secured a commitment of USD 10 million in seed funding from the Goel Family Office, including the company's founder and CEO Manav Goel. YOUKRAFT consolidates brands across more than 25 key industry verticals to provide [...]

Mumbai, Apr 11 (PTI) Global logistics services provider DB Schenker on Monday said it has appointed Kinjal Pande as the new CEO (chief executive officer) for India and the Indian subcontinent with immediate effect. Pande, who succeeded interim CEO Vivek Chopra, brings a wide experience from other leading global forwarders in the logistics industry, the [...]

Mumbai, Apr 11 (PTI) Phablecare, a chronic disease management startup, on Monday said it has raised Rs 187 crore in a funding round led by Kalaari Capital. Aflac Ventures, Digital Horizon and Stride Ventures also participated in the round along with existing investors Omron Ventures, SOSV, Social Starts, and Fresco Capital. The funds raised, which [...]

Mumbai, Apr 11 (PTI) Global logistics services provider DB Schenker on Monday said it has appointed Kinjal Pande as the new CEO (chief executive officer) for India and the Indian subcontinent with immediate effect. Pande, who succeeded interim CEO Vivek Chopra, brings a wide experience from other leading global forwarders in the logistics industry, the [...]

New Delhi, Apr 11 (PTI) Hero Lectro, the electric bicycle brand of Hero Cycles, on Monday announced the launch of its platform to enhance direct-to-consumer (D2C) sales, besides strengthening its overall omni-channel presence. The company said consumers can shop for its complete range of e-cycles and cargo e-bikes directly from its website -- herolectro.com, besides [...]

Mumbai, Apr 11 (PTI) EV solutions company Magenta in association with Euler Motors is planning to deploy 1,000 e-cargo three-wheelers in cities such as Bengaluru, Hyderabad and Chennai in coming months. Besides providing charging infrastructure for electric vehicles (EVs) in the country, Magenta owns EVET brand of electric vehicles. Electric commercial vehicle maker Euler offers 688-kg [...]

Agartala, Apr 11 (PTI) The Northeast Frontier Railway (NFR) has a plan to provide direct train connectivity to the proposed Integrated Check Post (ICP) at Sabroom, a border sub-division of South Tripura district to ensure seamless cargo facility. A team of senior NFR officials held a meeting recently with state government officials, representatives of Land [...]

BANGALORE, India , April 11, 2022 /PRNewswire/ -- Bangalore headquartered Menterra Venture Advisors today announced the first close of its Menterra Social Impact Fund II. The first close of this fund is being announced with commitment of approximately Rs.227Cr (~US$30MM). The target fund corpus is Rs.750Cr (~US$100MM) which includes a green shoe option of Rs.250Cr [...]

Mumbai, Apr 11 (PTI) EV solutions company Magenta in association with Euler Motors is planning to deploy 1,000 e-cargo three-wheelers in cities such as Bengaluru, Hyderabad and Chennai in coming months. Besides providing charging infrastructure for electric vehicles (EVs) in the country, Magenta owns EVET brand of electric vehicles. Electric commercial vehicle maker Euler offers 688-kh [...]

New Delhi, Apr 11 (PTI) The Isprava Group, which is into luxury housing and hospitality businesses, on Monday said it has raised USD 130 million (about Rs 985 crore) from investors to grow its business. The funding round was led by family offices including the Nadir Godrej Family Office, the Burman Family Office and others, a [...]

• Initiative to help increase India's Life Insurance Rural Penetration from 8 -10% currently * • CSC to distribute Tata AIA Life's POS Smart Income Plus plan, which offers the dual advantage of savings and protection MUMBAI, India, April 11, 2022 /PRNewswire/ -- As part of its effort to deliver much-needed life insurance protection cover [...]

BENGALURU, India, April 11, 2022 /PRNewswire/ -- Glip, a creator tool suite for gamers to create and monetise, has raised $3 million in its pre-series A round led by Prime Venture Partners. The round also saw the participation of existing backers Better Capital and iSeed. Prominent angels include Paavan Nanda (WinZO), Nilay Arora (Tencent), Suhail [...]

New Delhi, Apr 11 (PTI) Glenmark Pharmaceuticals on Monday said its unit has received approval from the Drug Controller General of India (DCGI) to conduct phase 1 clinical trials of its novel molecule on patients with advanced solid tumors. Glenmark Specialty SA has received approval from the DCGI to conduct a Phase 1 clinical trial [...]

London, Apr 10 (PTI) An internal inquiry has been launched into how the tax affairs of Akshata Murty, daughter of Infosys co-founder Narayana Murthy, were leaked to a newspaper, according to UK media reports on Sunday. The Whitehall investigation within UK government quarters will look into how the information about the non-domicile status of the [...]

Panaji, Apr 10 (PTI) As part of its plan to shift towards "green steel", a Vedanta group firm has said it is working on a solution to use hydrogen instead of coke in its manufacturing process so as to reduce carbon emissions. Vedanta's Sesa Goa Iron Ore Business said it is looking for a tie-up [...]

New Delhi, Apr 10 (PTI) Steel products maker Goodluck India will invest Rs 200 crore over the next two-three years to expand capacity, its Chairman and Managing Director (CMD) M C Garg said. BSE-listed Goodluck India has five manufacturing units at Sikandrabad (Uttar Pradesh) and one in Kutch (Gujarat) with a total installed capacity of [...]

New Delhi, Apr 10 (PTI) Global energy giant Shell will foray into retailing LNG for long-haul transportation like trucks, with its first filling station coming up in Gujarat this year as it bets big on the Indian gas market, a senior company official said. Shell operates a 5 million tonnes a year liquefied natural gas [...]

Coimbatore, Apr 9 (PT) Leading used vehicles e-commerce platform CARS24 expanded its presence in the southern market by foraying into the city. With the exponential growth in demand for cars in Tamil Nadu, the brand is focused on delivering the best experience to customers and fulfilling their dream of owning a car and it is [...]

New Delhi, Apr 9 (PTI) Tata AIA Life Insurance on Saturday said it has tied up with Common Service Centres which will provide access to about 95 per cent of gram panchayats in the country. As part of its effort to deliver much-needed life insurance protection cover to rural households and safeguard their loved ones [...]

Mumbai, Apr 9 (PTI) Global hospitality group Marriott International on Saturday said it has signed an agreement with Ceres Hotels to bring its St Regis brand to Goa. As part of the agreement, Leela Goa will be converted into St Regis Resort, Marriott International said in a statement. Spread across 49-acres, the hotel is located [...]

London, Apr 9 (PTI) Akshata Murty, the daughter of Infosys co-founder Narayana Murthy, has announced that she will pay UK taxes on all her income, including from India, to avoid the issue being a “distraction” for her husband – Chancellor Rishi Sunak. The 42-year-old entrepreneur has been at the centre of days of headlines after [...]

New Delhi, Apr 9 (PTI) State-run power producer SJVN Ltd on Saturday said that a bridge on the river Tons in Uttarakhand has become operational to ensure better connectivity in the region and support the activities of its Naitwar Mori Hydro Electric Project. The 60-MW Naitwar Mori Hydro Electric Project is expected to be completed [...]

New Delhi, Apr 9 (PTI) Seven companies have put in 21 bids for licence to retail CNG to automobiles and piped cooking gas to households in five areas in states like Uttar Pradesh and West Bengal, oil regulator PNGRB said. The Petroleum and Natural Gas Regulatory Board (PNGRB) had offered five Geographical Areas (GAs), spread [...]

New Delhi, Apr 8 (PTI) Lok Sabha member V K Sreekandan has urged the central government to start a railways-related project at the 236 acres of unutilised land parcel in Kerala's Palakkad district that was acquired by the railways ministry more than ten years ago for setting up a rail coach factory. The land parcel, [...]

New Delhi, Apr 8 (PTI) Sebi on Friday clarified that shareholders' omnibus approval for related party transactions given in an annual general meeting will be valid up to the date of the next such meeting for a period not exceeding 15 months. In case of omnibus approvals for material related party transactions (RPTs), obtained from [...]

New Delhi, Apr 8 (PTI) Sebi on Friday formed two working groups to review the role and eligibility of a sponsor of a mutual fund to facilitate growth and innovation in the industry and to streamline the role and obligations of trustees of such financial instruments. The working group for reviewing the role and eligibility [...]

New Delhi, Apr 8 (PTI) Technology solutions provider Infogain on Friday announced the opening of its delivery center in Montevideo, Uruguay. The center, Infogain's seventh center globally, marks the company’s entry into Latin America and adds to its nearshore capabilities. Infogain, in a statement, said it has opened a new global delivery center in Montevideo, [...]

Ahmedabad, Apr 8 (PTI) Pharmaceutical major Cadila Pharmaceuticals on Friday announced that it has developed the world's first novel three-dose vaccine against rabies. The three-dose vaccine, named as 'ThRabis', is a recombinant nano-particle based G protein vaccine which is prepared using Virus-like Particle technology, the company said in a release, adding that the three-dose schedule [...]

Houston, Apr 8 (PTI) Amidst fireworks, carnival games, music and futuristic technology, multi-billionaire Tesla CEO Elon Musk threw a grand invitation-only party for some 15,000 guests at the company's new billion-dollar-plus “Gigafactory” in Austin, capital of the US state of Texas. “Cyber Rodeo at Giga Texas” was attended by invited guests and hosted by Musk [...]

New Delhi, Apr 8 (PTI) Japan has included Bharat Biotech's Covaxin in the list of recognised vaccines, a move aimed at facilitating travel between the two countries. "The Government of Japan has included Bharat Biotech's Covaxin in the list of recognised vaccines to further facilitate travel from India to Japan starting April 10, 2022," Bharat [...]

New Delhi, Apr 8 (PTI) Force Motors on Friday said it has tied up with the Automotive Skills Development Council (ASDC) to recruit and to enhance skill set of the workforce at its dealerships. A service agreement in this regard was inked between the two entities on Friday, the Pune-based company said in a statement. [...]

Kolkata, Apr 8 (PTI) Tea retailer Golden Tips plans to expand its footprint through the e-commerce route by entering into strategic partnerships in the country and widen its reach in export markets through distributor tie-ups overseas, an official said on Friday.The company is also focusing on broadening its presence in physical retail operations across metros [...]

New Delhi, Apr 8 (PTI) IIT Kanpur-backed startup Offgrid Energy Labs on Friday said it plans to commercially launch products with its ZincGel battery technology in India by next year.The company is seeking to enhance the battery swapping segment through its ZincGel battery technology, targetting fleets operating low-powered electric vehicles like two-wheelers and three-wheelers.The ZincGel [...]

Mumbai, Maharashtra, India (NewsVoir) • NTT DATA, a top-10 global IT Services provider, currently operates payment companies in Japan, Hong Kong, Singapore, Vietnam, Malaysia and India • NTT DATA acquired majority stake in the Indian Payment Company, Atom Technologies in 2019 and now renames it to NTT DATA Payment Services India Ltd.• Post-acquisition, the company [...]

New Delhi, Apr 8 (PTI) Abu Dhabi-based conglomerate International Holding Company will invest USD 2 billion in three green-focused companies in the Adani Group through preferential share allotment."IHC will invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL) and Rs 7,700 crore in Adani Enterprises Ltd [...]

New Delhi, Apr 7 (PTI) Softbank-backed eyewear retailer Lenskart on Thursday announced the expansion of its online presence by offering products on Nykaa, Myntra, Tata Cliq and other platforms. The move is part of its plan to "scale up presence on all international platforms this quarter". "This step highlights our continued efforts to fully transform [...]

New Delhi, Apr 7 (PTI) The government on Thursday approved providing one-time window to state and central public sector units to surrender coal mines that could not be made operational due to technical reasons. The decision was taken by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. No penalty will [...]

New Delhi, Apr 7 (PTI) The government may ask Ola Electric to explain the incident of its electric scooter catching fire in Pune last month, a senior government official said on Thursday. The government had ordered a probe last month after an e-scooter launched by the ride-hailing operator's electric mobility arm caught fire in Pune. [...]

New Delhi, Apr 7 (PTI) The Delhi High Court on Thursday granted interim protection from arrest to SpiceJet promoter Ajay Singh in a case of an alleged fraud related to the transfer of shares of the airline to certain individuals.        “No coercive action shall be taken against the petitioner till next date of hearing and [...]

Chennai, Apr 7 (PTI): Taiwan-based Hong Fu Group would invest Rs 1,000 crore to set up a footwear unit in Tamil Nadu and signed a memorandum of understanding with the State government in this connection. The MoU was signed between top officials of the company and Guidance Tamil Nadu, the State investment promotion agency, in [...]

New Delhi, Apr 7 (PTI) Capital markets regulator Sebi on Thursday imposed penalties totalling Rs 25 lakh on five entities for indulging in non-genuine trades in illiquid stock options on BSE. In five separate orders, the regulator slapped a fine of Rs 5 lakh each on Krishna Kumari, Rajeshree Haresh Lathia, Priya Abhay Nahar, Nayana [...]

Mumbai, Apr 7 (PTI) Coffee exporter Allana Group on Thursday announced its foray into the domestic market and said it will set up a coffee unit in Karnataka at an investment of Rs 40 crore.The group, which has been exporting the green bean since 1987, is planning to introduce international grade coffees to Indian consumers, [...]

Mumbai, Apr 7 (PTI) Edtech company Jaro Education on Thursday announced its second grant of ESOP (employee stock option plan) worth Rs 15 crore to reward the company's existing employees.According to the scheme, employees of Jaro Education will be able to vest their ESOPs over 3 years, the company said in a statement.The grant of [...]

Mumbai, Apr 7 (PTI) Edtech company Jaro Education on Thursday announced its second grant of ESOP (employee stock option plan) worth Rs 150 million (about Rs 1,140 crore) to reward the company's existing employees.According to the scheme, employees of Jaro Education will be able to vest their ESOPs over 3 years, the company said in [...]

New Delhi, Apr 7 (PTI) Tata group on Thursday launched possibly India's first super app, Tata Neu, that brings together grocery-to-hotel-to-airline ticket booking and medicine on a single platform, rivalling similar products from Amazon and Walmart's Flipkart. In a social media post, Tata Sons Chairman N Chandrasekaran said Tata Neu combines the traditional consumer-first approach [...]

Mumbai, Apr 7 (PTI) Chicago-based omni-fulfilment platform ShipBob on Thursday said it has appointed Pramod Jajoo as the senior vice president of Technology and Country Head. The company also announced the launch of its Technology Innovation Hub in New Delhi.Jajoo will lead ShipBob's expansion in India while overseeing all technology advancements the company will undertake [...]

Mumbai, Apr 7 (PTI) Global digital services and product company InfoVision Inc on Thursday said it is planning to hire an additional 2,000 software engineers across its India development centres by 2023.The announcement came after the company experienced an exponential growth in FY22, InfoVision Inc said in a statement.Currently, InfoVision has its presence in five [...]

New Delhi, Apr 7 (PTI) Tata Starbucks on Thursday announced a partnership with leading designer and couturier Sabyasachi Mukherjee to launch limited-edition lifestyle drinkware. The 'Sabyasachi + Starbucks' collection will feature a range of lifestyle drinkware including ceramic mugs and stainless-steel tumblers, said a joint statement. As part of the tie-up, both Starbucks and Sabyasachi [...]

New Delhi, Apr 7 (PTI) Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF – II) on Thursday said it has invested Rs 75 crore in Vakratunda Buildcon for construction of a project in Mumbai. Vakratunda Buildcon Pvt Ltd is a joint venture between Shapoorji Pallonji Group and Vakratunda Group. The funds will be utilised [...]

New Delhi, Apr 7 (PTI) AI-enabled content platform Instoried on Thursday said the US-based investment group GEM has committed USD 200 million (about Rs 1,500 crore) investment in the company. GEM will subscribe to the shares of Instoried whenever it goes public within a period of three years, Instoried founder and CEO Sharmin Ali said [...]

New Delhi, Apr 7 (PTI) The Central Power Research Institute (CPRI) has received accreditation from the National Accreditation Board for Certification Bodies (NABCB) to certify certain electrical equipment. With the accreditation, manufacturers who obtain test certificates from CPRI would be able to export their products without the requirement of retesting or authentication by any other [...]

New Delhi, Apr 7 (PTI) Public sector lender Bank of Maharashtra on Thursday said it will divest its entire stake of 4 per cent in India SME Asset Reconstruction Company for nearly Rs 4 crore. Bank of Maharashtra (BoM) has executed a share purchase agreement dated April 6, 2022 for sale of entire equity stake [...]

New Delhi, Apr 7 (PTI) Drug firm Pfizer Ltd on Thursday offered a voluntary retirement scheme (VRS) for its field staff as part of expanding its digital capabilities and revamping talent strategy. Over the past few years, the company has been on a journey to reshape itself into a more growth-oriented and innovative biopharma company, [...]

London, Apr 7 (PTI) The UK Opposition has questioned the non-domicile tax status of India-born Akshata Murty, daughter of Infosys co-founder Narayana Murthy, and demanded an urgent explanation from her husband – UK Chancellor Rishi Sunak. A non-domicile status means Akshata Murty, who owns shares in Infosys, is not legally bound to pay tax in [...]

New Delhi, Apr 7 (PTI) Startup Rozana on Thursday said it has raised USD 2.5 million (nearly Rs 20 crore) in a funding round co-led by 3one4 Capital and Europe's IEG-Investment Banking Group.The funding round also saw participation from angel investors, including Manisha Girotra, Board Member and CEO of Moelis, Prosus (formerly Nasper) and SK [...]

Mumbai, Apr 7 (PTI) Zypp Electric, which operates in the last-mile delivery segment, on Thursday said it has elevated Tushar Mehta as Co-Founder and Chief Operating Officer (COO) to drive its business and growth amid the company's plans to grow its revenue 100X by 2025.Mehta has formerly been associated with Ola Cabs and e-commerce platform [...]

New Delhi, Apr 7 (PTI) Tata Steel on Thursday said the Kolkata bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by its wholly-owned subsidiary Tata Steel Mining Limited, for the acquisition of debt-laden Rohit Ferro-Tech Limited. On June 6, 2021, Tata Steel had informed that the Committee of Creditors [...]

Hyderabad, Apr 7 (PTI): Hindustan Coca-Cola Beverages (HCCB), Coco-Cola India's bottling arm on Thursday said it will be setting up a second factory in Telangana with an investment outlay of Rs 600 crore in the first phase. The FMCG company will be building a state-of-the-art, digitally enabled, automated, smart factory that will manufacture juices, enhanced [...]