Vernacular audio platform Khabri garnered $ 2.1mn in a Pre-Series A funding round led by Liquid 2 Ventures, Pioneer Fund, and Rebel Fund. Angel investors Runway cofounder Siqi Chen, former Google India MD Shailesh Rao, among others also participated. The funding will be used in strengthening the tech capabilities, such as improving the recommendation and search engine for easing content discovery.

Raunaq EPC International's Board of Directors nodded to the transfer by way of sale, 37,06,159 (24.91%) Equity Shares held by the Company in Xlerate Driveline lndia, an Associate Company within the Group to Sachit Kanwar, Executive Director - Operations of the Company for a total consideration of Rs2,59,43,113/- i.e. Rs7.00 per Equity Share. The current m-cap of the company is Rs8.69cr.

Solara Active Pharma Sciences, on August 4, announced that veteran banker Aditya Puri joined the Board as the Chairperson. Aditya Puri is also the Former MD of HDFC Bank and a senior advisor to a large PE fund. He will be in charge of the Nomination and Remuneration Committee of Solara's board. The company also said that its founder Arun Kumar has joined as a non-executive director.

Garment Mantra Lifestyle announced its Q1'FY22 results. The revenue from operations increased by 19.18% from Rs18.41cr in Q1 FY21 to Rs21.9cr in Q1FY22. EBITDA increase by 129.66% from Rs1.02cr in Q1 FY21 to Rs2.3cr in Q1 FY22. Net Profit stood at Rs1.07cr in Q1 FY22, compared to Rs0.18cr in Q1 FY21. Post the results, the stocks climbed a 52-week high at Rs169 per piece on Wednesday.

Indian Overseas Bank's Profit after tax (PAT) for the Jun-21 quarter surged by 171% at Rs327cr due to higher other income and lower provisioning. NIMs were flat to marginally lower at 2.34% while the CASA ratio was marginally higher at 41.63% in the Jun-21 quarter. Cost to income ratio was also stable at around 53.57%. The bank posted a marginal 1.50% fall in total consolidated revenues in Q1'FY22

Delhi-based venture debt firm Stride Ventures reported the first close of Stride Ventures India Fund II, securing commitments of INR 550 Cr, out of its target corpus of INR 1,000 Cr, with an additional greenshoe option of INR 875 Cr. Post SEBI's approval, the venture debt firm garnered over half of its targeted corpus of Rs 1,000 Cr within two months since the announcement of the launch.

Social investing and gaming platform StockGro garnered $5Mn in a Pre-Series A round led by Roots Ventures and Velo Partners. Founded in 2020 by former VC Ajay Lakhotia, StockGro has a gamified virtual interface that enables users to discover trading strategies, compete and interact with others. The company will use the funding to grow its user base, hire tech talent and build new features.

State Bank of India. on August 4, announced a 55.25% YoY surge in Q1'FY22 net profit at Rs 6,504 crore. The lender reported a net profit of Rs 4,189.34 crore in the same quarter of the previous year. The number was above the Street expectations, as a CNBC-TV18 poll of analysts had estimated Q1 profit at Rs 6,374.5 crore. Net interest income (NII) for the quarter grew 3.74% YoY.

S&P Global Ratings has increased its ratings on Tata Steel to 'BB' on significant expected deleveraging. The rating agency has allocated a 'Stable' outlook. In its rationale report, S&P said, "We estimate Tata Steel's adjusted debt (including customer advances and securitized receivables, among other standards S&P Global rating adjustments) will fall to about (Rs) 600 billion Indian rupees.

Iris Clothings Limited, a readymade garment company dealing in designing, manufacturing, branding and selling garments for kids wear, has reported financial results for the first quarter ended June 30, 2021. Financial Highlights Total Income was at Rs19.6cr, up 243% yoy EBITDA margin is at 22.5% compared to 16.0% in Q1FY21, up by a considerable 642 bps PAT margin.

Birla Corporation-led wholly-owned subsidiary RCCPL Private Limited has gained board of directors acceptance for revision in capital expenditure for setting up of Greenfield Integrated Cement Plant at Mukutban (Maharashtra). Also, the board nodded for restructuring of the scope of the second phase expansion of the grinding cement plant at Kundanganj (Uttar Pradesh).

Shares of Balaji Amines round up 9% in early trade today to hit a new high on the exchanges after the company posted a robust number for the June quarter. The company’s consolidated net profit more than doubled to ₹974 m from ₹315.8 m in the same period last year. Its consolidated total income during the quarter grew against a fall in the June 2020 quarter.

ICICI Prudential Life Insurance customers will be able to purchase and pay insurance policy premiums through an autopay facility in UPI's payment ecosystem. ICICI Prudential Life Insurance has amalgamated with the National Payments Corporation of India (NPCI) to deliver a Unified Payments Interface (UPI) Autopay facility to its customers.

Linde India has signed a Business Transfer Agreement with HPS Gases Ltd., Vadodara to obtain its entire packaged gases business along with certain distribution assets for a lump cash consideration of Rs27.5cr. The acquisition will come into effect from November 01, 2021. Linde India will supply liquid products to HPS Gases Ltd. and purchase gases in packaged and mini-bulk from HPS Gases Ltd.

Satin Creditcare Network Limited announce the exchanges Tuesday that the Board of Directors of two wholly-owned subsidiaries of the company name, Taraashna Financial Services Limited and Satin Finserv Limited, at their respective meetings held on August 3, 2021, have accepts a draft Scheme of Arrangement for Amalgamation of Taraashna Financial Services with Satin Finserv Limited.