KKR launches its third InvIT in India
Private equity major KKR has launched its third infrastructure investment trust (InvIT) named Highways Infrastructure Trust (HIT), in addition to Virescent Renewable Energy Trust, a renewable energy InvIT, and India Grid Trust, a transmissions InvIT. Together, these platforms operate and manage 33 assets valued at over $3.8 billion across 22 ......
India's GDP growth seen at 7.4% this fiscal, says FM
Union Finance Minister Nirmala Sitharaman on 26 August said that India's Gross Domestic Product (GDP) will grow at 7.4 per cent in FY22-23 and continue at the same level in FY24 as well. Speaking at the 'The Financial Express: India's Best Bank Awards 2022', the Finance Minister said that despite the ......
Sharma reappointed as Paytm’s chief exec
Shareholders of One97 Communications have approved the reappointment of Paytm founder Vijay Shekhar Sharma as managing director and chief executive officer of the firm, despite calls for his ouster. All seven resolutions passed by the Paytm board, including the reinstatement of Madhur Deora as the executive director, president and group chief ......
Travel startup Spotnana snags $75 mn in Series B; valn jumps ‘several fold’
Travel tech startup Spotnana has raised $75 million in a Series B round, led by Durable Capital Partners LP, founders Sarosh Waghmar and Shikhar Agarwal told VCCircle on Tuesday. Existing investors Madrona Venture Group, Iconiq Growth, Mubadala Capital and Blank Ventures also participated in the round, said Waghmar, who is also ......
Markets see first weekly loss in six
Indian shares gave up some gains on Friday and registered their first weekly loss in six, as investors maintained caution ahead of US Federal Reserve Chair Jerome Powell's speech that is likely to provide cues on future interest rate hikes. Nifty ended 0.21% higher at 17,558.9, while Sensex closed 0.1% higher ......
NVS Wealth, Rajiv Dadlani Group back healthtech firm Heaps Health Solutions
Artificial intelligence-driven healthtech startup Heaps Health Solutions said it has secured $7.4 million (around Rs 55 crore) as a part of its Series A round led by NVS Wealth Managers and Rajiv Dadlani Group. The software as a service (SaaS) provider plans to deploy the fundraise for its team expansion, ramping ......
Paytm says will achieve profitability by September 2023, denies international expansion
Financial services conglomerate Paytm has no plans to expand internationally or make any acquisitions, the company management told shareholders on Friday, even as it reiterated its plan to turn operationally profitable by September-end 2023. Speaking at the company’s first annual general meeting, Paytm managing director and chief executive officer Vijay Shekhar ......
Singtel to divest stake in Bharti Airtel for $1.6 bn
Singapore Telecommunications Ltd said on Thursday it would sell a 3.3% stake in India's Bharti Airtel Ltd to Bharti Telecom Ltd for an aggregate consideration of about S$2.25 billion ($1.61 billion). Singtel, southeast Asia's largest telecom firm, said its units Pastel Ltd and Viridian Ltd would together sell 198 million shares ......
JITO Angel Network, AIM Angel group, others back nutrition brand PlantVita
Enzu.Life Pvt Ltd which operates lifestyle nutrition brand PlantVita, on Monday, said it has raised an undisclosed sum in a seed funding round led by JITO Angel Network. The round also saw participation from AIM Angel group, Apurva Shah, promoter and MD of Veeda Clinical research; Jai Diwanji, partner at Desai & Diwanji law firm; Vivek ......
Work fulfilment platform Awign raises $15 million in Series B
Awign Enterprises Pvt. Ltd, which runs an eponymous on-demand work fulfilment platform, on Thursday announced that it has raised $15 million in a Series B funding round co-led by Bertelsmann India Investments and Amicus Capital Partners. Mynavi Corporation and existing investors - Unitus Ventures, and the Michael & Susan Dell Foundation ......
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