Whatfix, a digital adoption platform, has announced a $58 million liquidity program, including ESOP and secondary sale by investors, following its $125 million Series E fundraising, valuing the company at $870 million post-money, allowing eligible employees to liquidate vested units and share in the company's growth.
Open FlipWhile there is still a suspense over the timing of National Stock Exchanges' (NSE's) initial public offering (IPO), the buzz around its public issue has grown in the last 3-4 months, sparking a rally in its share price by 35-45% in the unlisted market. From a price of Rs 4,300, 3-4 months ago, NSE shares are now trading at around Rs 5,800 per share, which represents a 35% uptick, said one analyst.
Open FlipNavaratna defence PSU Bharat Electronics Ltd (BEL) on Monday (October 7) said it has secured additional orders worth more than ₹500 crore since its last announcement on September 11, 2024. The new contracts include EMI (electromagnetic interference) shelters, annual maintenance contracts for integrated air command and control system nodes, upgrades and spares for gun systems, radar spares.
Open FlipLC Nueva Investment Partners, a partnership between Singapore-based Lighthouse Canton and Delhi-based investment firm Nueva Capital, has launched its second fund, mainly to back the winners from its debut vehicle, LC Nueva Fund, which closed at Rs 350 crore ($42 million) in 2023. The second vehicle, LC Nueva Momentum Fund, was launched in June 2024 and aims to raise up to Rs 250 crore.
Open FlipZomato and PB Fintech have surged over 100% in CY24, while newly listed companies like Unicommerce and OLA Electric Mobility have risen 30-90%. India's new-age internet companies have shown strong revenue growth, with some turning profitable and others remaining loss-making, and have significant market capitalization.
Open FlipThe Indian stock market has been on fire recently, with September emerging as one of the busiest months for initial public offerings (IPOs) in the past 14 years. According to the data released by the Reserve Bank of India (RBI) on September 20, IPO activity in the country has reached an all-time high, highlighting a significant resurgence of interest in public listings.
Open FlipApple shares moved lower in early Monday trading after a top Wall Street analyst issued a rare downgrade for the tech giant, citing concerns that its new push into artificial intelligence will be slowed by muted handset demand. Apple (AAPL) , which unveiled its version of AI, dubbed Apple Intelligence, in early June, is looking to leverage its dominance in the smartphone market to drive consumers.
Open FlipCommon wisdom about generative AI is that it will displace lots of professional jobs. Generative AI is automating entry-level jobs, such as market research and report writing, which could raise the bar for starting a career, as businesses and graduates adapt to AI taking over grunt work, potentially displacing thousands of new college graduates from professions like law and banking.
Open FlipIndia’s trade with Iran has become a tenth of what it used to be a decade ago, while its business with Israel has remained unchanged in the same period, according to a Moneycontrol analysis. As US sanctions impacted oil shipments from Iran, India’s trade with the country shrank to $2.5 billion in FY24 compared with $26.5 billion a decade ago. With Israel, however, India’s exports grew 21%.
Open FlipLotus Chocolate Company's shares have surged 5,062% to ₹1,807 apiece from ₹35 in September 2022, with a 404% gain in the last four months, driven by Reliance Consumer Products' 51% stake acquisition in March 2023. The company, a leading Indian chocolate manufacturer, aims to capitalize on the growing chocolate market, projected to reach ₹35,000 crore in four years.
Open FlipSteel pipes maker Hi-Tech Pipes Ltd on Monday (September 7) initiated its qualified institutional placement (QIP), setting a floor price of ₹194.98 per share, as approved by its board and shareholders. The Fund Raising Committee finalised and adopted the preliminary placement document in a meeting on October 7. The company may offer a discount of up to 5% on the floor price.
Open FlipIn a bid to strengthen its market leadership in BEVs, Tata Motors is exploring the feasibility of a BaaS model for some of its product lines, according to sources aware of development. Expected to be offered in electric variant of Tiago, Punch, Tigor, Nexon and other models, battery rental option for consumers is expected to bring down ex-showroom prices of its BEVs by 25-30%, claimed sources.
Open FlipMirae Asset Mutual Fund has introduced the Mirae Asset Nifty Total Market Index Fund, an open-ended scheme that replicates the Nifty Total Market Total Return Index. This innovative fund provides broad market coverage by offering exposure to 750 companies across various market capitalisation segments. The fund is designed to reflect the entire spectrum of India’s equity market.
Open FlipMid-market private equity firm Ascent Capital, which counts BigBasket, MyGlamm, Fresh2Home and Acko among its portfolio, has secured commitment from a new limited partner (LP) for its latest fund, VCCircle has gathered. The PE firm had started seeking commitments for the new fund early this year and plans to raise Rs 2,000 crore ($240 million).
Open FlipThe Nifty 50 decisively broke the psychological 25,000 mark on October 7, marking a negative start for the week, as bears continue to strengthen their position in the equity markets. All sectors, except IT, participated in the correction. Given the continuation of lower highs and lows, weakening momentum indicators, and rising volatility, if the index fails to defend 24,750 on a closing basis.
Open Flip