Page 1966 - Company News
ITC records 3 times growth in e-commerce sales compared to pre-Covid levels
ITC collaborated with leading e-commerce platforms on all aspects of operations, including category development, marketing, and supply chain and customer acquisition
 "ITC records 3 times growth in e-commerce sales compared to pre-Covid levels")
Indian media, entertainment industry may touch Rs 4.3 trn by 2026: Report
The growth would be paced by digital media and advertising through deeper penetration of the internet and mobile devices in the domestic market, along with traditional media, says PwC report
 "Indian media, entertainment industry may touch Rs 4.3 trn by 2026: Report")
IIFL Finance gets board's approval to raise Rs 5,000 cr by issuing bonds
IIFL Finance is planning to raise debt capital worth Rs 5,000 crore by issuing bonds on a private placement basis, the company said on Thursday.
 "IIFL Finance gets board's approval to raise Rs 5,000 cr by issuing bonds")
Pine Labs acquires API fintech startup Setu in $70 mn-$75 mn deal
Merchant commerce platform Pine Labs on Thursday announced the acquisition of Bengaluru-based API fintech startup Setu in a deal valued at USD 70-75 million
 "Pine Labs acquires API fintech startup Setu in $70 mn-$75 mn deal")
Chaayos raises $53 mn in Series C funding led by Alpha Wave Ventures
Leading "chai" (tea) cafe chain Chaayos on Thursday announced it has raised $53 million in Series C funding led by Alpha Wave Ventures. The company said it will use the money for tech-enhancement
 "Chaayos raises $53 mn in Series C funding led by Alpha Wave Ventures")
Re-commerce platform Cashify raises $90 mn, to build technology infra
Re-commerce marketplace Casify on Thursday said it has secured $90 million in its Series E funding from NewQuest Capital Partners and Prosus
 "Re-commerce platform Cashify raises $90 mn, to build technology infra")
Some gaps in ILC recommendations on resolution process, say experts
Report seen as unclear on who should pursue cases related to avoidable transactions and improper trading under bankruptcy code
 "Some gaps in ILC recommendations on resolution process, say experts")
Reliance Industries seeks new technologies to make cheaper green hydrogen
As part of the push, Reliance Industries also plans to bid for any production-linked incentives the government may offer to encourage the technology
 "Reliance Industries seeks new technologies to make cheaper green hydrogen")
Tatas exit race to buy Reliance Capital's general insurance arm
Group only interested in general insurance, but lenders want firms to bid for entire cluster of companies
 "Tatas exit race to buy Reliance Capital's general insurance arm")
Cashify raises $90 mn in series E funding from NewQuest and Prosus
Since 2021, the company has pivoted and embarked on its expansion across India
 "Cashify raises $90 mn in series E funding from NewQuest and Prosus")
Indigo flies ahead of rivals in May, has almost 58% of domestic market
Tata-led Air India has seen its market share continuously decline since March as around 30 of its 113 aircraft have been grounded for varying periods
 "Indigo flies ahead of rivals in May, has almost 58% of domestic market")
Emami Realty aims for 50% sales growth to Rs 750 crore in FY23
The real estate arm of the diversified Emami Group has targeted retiring its long-term debt by 2023-24, which is now pegged at Rs 118 crore, a top company official said
 "Emami Realty aims for 50% sales growth to Rs 750 crore in FY23")
Realty firm Supertech plans Rs 300-crore fundraise for ongoing projects
On June 10, the NCLAT ordered starting of insolvency proceedings in only one of the housing projects of realty firm Supertech and not the entire company
 "Realty firm Supertech plans Rs 300-crore fundraise for ongoing projects")
Kalpataru Power Transmission, its arms bag orders worth Rs 2,290 crore
The company and its subsidiaries also won orders for the construction of an elevated viaduct and five elevated stations of the Kanpur Metro Rail Project
 "Kalpataru Power Transmission, its arms bag orders worth Rs 2,290 crore")
CBI books DHFL in 'biggest' banking fraud of Rs 34,615 crore; 17 banks hit
The audit of DHFL account books showed that the company allegedly committed financial irregularities, diverted funds, round tripped funds to 'create assets for Kapil and Dheeraj Wadhawan'
 "CBI books DHFL in 'biggest' banking fraud of Rs 34,615 crore; 17 banks hit")
Thyssenkrupp, Tata Steel lose fight against EU veto of joint venture
The companies had sought to tackle over-capacity and other challenges in the steel industry via the joint venture but the European Commission said the deal could result in price hikes.
 "Thyssenkrupp, Tata Steel lose fight against EU veto of joint venture")
Vodafone group to infuse Rs 436 crore in Vi ahead of India 5G auction
This is the second capital raise by the Indian company in two months after Rs 4,500 crore infusion from its promoters.
 "Vodafone group to infuse Rs 436 crore in Vi ahead of India 5G auction")
Google executive warns against sharing of citizen data, even if anonymized
The new framework for the governance of citizen data encourages private companies to share non-personal data with start-ups and researchers
 "Google executive warns against sharing of citizen data, even if anonymized")
NHAI pays Rs 308 cr arbitral award to IRB Infra SPV in payments dispute
Amount is 75% of total award for Pathankot-Amritsar told road project, matches union cabinet guideline.
 "NHAI pays Rs 308 cr arbitral award to IRB Infra SPV in payments dispute")
Spandana agrees to resolve disputes with ex-MD Padmaja Gangireddy amicably
The board of directors of the company and its subsidiaries -- Criss Financial Limited and Caspian Financial Services Limited -- on Tuesday approved the settlement agreement, the company said
 "Spandana agrees to resolve disputes with ex-MD Padmaja Gangireddy amicably")