Page 4 - Companies

Godrej Enterprises to invest over Rs 1,200 cr on digital solutions

Godrej Enterprises Group on Monday said it will invest over Rs 1,200 crore over the next three to five years in new digital solutions and technology platforms. The group, which comprises Godrej & Boyce and its affiliates, and has a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software, said the investments will include strategic digital platforms, AI, and generative AI technologies across business units. "With a consumer base of over 1.1 billion, we are committed to redefining how customers interact with us. Our vision is to create a customer-first ecosystem that offers a unified experience that helps foster deeper relationships with our stakeholders," Godrej Enterprises Group (GEG) Executive Director, Nyrika Holkar said. She further said, "With cutting-edge digital and AI tools, extensive skills training, and unwavering commitment to transformation, we want to shape the future of customer experience." To achieve a seamless ...

Zetwerk Manufacturing strengthens leadership team in preparation for IPO

The manufacturing firm has assembled a leadership team with extensive experience in electronics manufacturing to drive operations and innovation

IDBI Bank disinvestment progresses, due diligence begins, to end by H1FY26

The Union government and Life Insurance Corporation jointly hold a 95 per cent stake in IDBI Bank, of which they are selling 60.72 per cent

Mouth freshener brand JoySpoon's funding round reaches Rs 1.81 crore

Founded by husband-and-wife duo Vaishali Mehta and Yash Mehta, JoySpoon is tapping an industry expected to grow to Rs 27,491 crore by 2028

OMEGA unveils Speedmaster Moonphase Meteorite watch, honouring Apollo 11

Each dial features a unique meteorite pattern, with ribbon-like flecks formed over millions of years

Short-seller Hindenburg Research behind Adani Group selloffs disbanded

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down, its founder Nate Anderson announced Wednesday. As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today, Anderson announced. In the last few years, Hindenburg Research had launched a campaign against the Adani group. Its reports published since 2023 had resulted in billions of dollars of loss for the Indian billionaire. All the charges were denied by Adani and his companies. The sudden and surprising announcement by Anderson comes within days of a Republican Congressman, a member of the House Judiciary Committee, asking

OPG Mobility to raise Rs 400 crore, gets into product portfolio expansion

Electric vehicle maker OPG Mobility, formerly Okaya EV, is seeking to raise around Rs 400 crore within the next 18-24 months to fuel its growth plans as it embarks on product portfolio and network expansion drive, according to its Managing Director Anshul Gupta. The company, which underwent a rebranding exercise recently, will house its two-wheeler division under the 'Ferrato' brand and plans to launch two new electric scooters and one electric motorcycle with two variants this year, Gupta told PTI. Besides, the three-wheeler division under 'OTTOPG' will see foray into electric passenger segment this year and the company is working to enhance its sales and service network expansion across India as it prepares to rope in investors to prepare for the long term, he added. "The idea will be to get a private equity, either strategic investor or non strategic investor, either of the two, and then build from there, and eventually, succeed in the long race," Gupta said when asked if OPG ..

LICO Materials aims to triple revenue to Rs 100 cr in FY26, says CEO

LICO Materials, a battery recycling and repurposing company, is looking to triple its revenue to over Rs 100 crore in FY26 on the back of growing EV and energy storage demand in India, its CEO Gaurav Dolwani said. "This year, we're expecting about Rs 30 crore...In a commodity upswing, doing the same business, we could probably cross Rs 100 crore," Dolwani said. The company was hoping for a better revenue in the current financial year but the decline in lithium, cobalt, and nickel prices has impacted the numbers, even though the company has hit its desired quantities. Last month, it inaugurated a battery recycling facility in Bengaluru, which has the capacity to process about 17,500 tonne of battery input per annum. LICO Materials, which plans to set up its own downstream chemical facility in two-three years is committing Rs 250 crore for the same. Asked how does the company plan to fund the unit, the CEO said it will be a mix of equity and debt. The company also plans to open anot

Religare AGM back on track after Madhya Pradesh High Court rejects PIL

The Madhya Pradesh High Court dismissed a PIL blocking Religare's AGM, vacating the stay on Rashmi Saluja's reappointment and allowing the Burman family's stake acquisition process to proceed

Microsoft confirms performance-based job cuts across key divisions

Microsoft's restructuring plans began in 2023 with 10,000 layoffs, followed by 1,900 more in its gaming unit after the $75.4 billion Activision Blizzard acquisition

Avendus seeks $466 million as it launches new India private credit fund

The 25 year-old Mumbai-based financial services firm aims to raise as much as Rs 4,000 crore ($466 million) through the fund, that will invest in the debt of mid-sized businesses in the country

Cybersecurity firm Rubrik expands in India with new Bengaluru office

Cybersecurity firm Rubrik on Wednesday announced its expansion plans in India with the opening of a new office space in Bengaluru. The new facility, which intends to replace the operations of the company's existing two offices in the city over a period of time, is expected to open by mid of 2025. "The new facility will combine product development, product management, customer support, and global recovery operations under one roof," a company statement said. Company co-founder and CEO Bipul Sinha also announced plans to hire talent from India for the expansion. "By investing in top engineering talent, we believe we will continue to create innovative solutions that enhance Rubrik's portfolio and support our global growth," he added. Sinha did not, however, provide a figure and timeline on the same. "India is in the midst of a massive digital transformation, and we believe there is a huge opportunity for Rubrik to help secure its digital future. There is a large pool of talent here.

Race to acquire Haldiram Snacks: Temasek secures term sheet, leads bid

Temasek has emerged as the leading contender to acquire a minority stake in Haldiram Snacks, after signing a term sheet with the promoters, with a valuation between $10 billion-$11 billion

Chose growth over profitability: Core Diagnostics' Zoya on acquisition

India has several venture-backed startups for whom the natural consequence is to have an exit, and between profitability and growth in the journey ahead, "we opted for the latter", Zoya Brar, founder of Core Diagnostics, which was recently acquired by Metropolis Healthcare, said. Metropolis Healthcare, one of India's leading diagnostics chains, acquired specialised diagnostics company Core Diagnostics for Rs 246.8 crore last month. "For an organisation to scale, it can either do it organically or inorganically. Since we have a number of venture-backed startups (in India), the natural consequence is, there needs to be an exit. And while IPOs are an option, they need a certain volume and scale before it makes sense. So we will continue to see consolidation," Brar told PTI. "Most importantly, incumbents like Metropolis need to constantly differentiate themselves to remain ahead of the competitive landscape and one simple way to do that is to acquire insurgents that have built an ...

Waaree Energies secures 150 MWp solar modules order for renewable project

Waaree Energies on Thursday said it has secured an order to supply solar modules totalling a capacity of 150 MWp for a major renewable project in India. The contract includes the supply of Waaree's flagship high-efficiency Glass N-type Topcon bifacial modules, rated at 585/590Wp, a company statement said. These modules are recognised for their durability, exceptional energy output, and advanced technology, it stated. According to the statement, Waaree Energies Ltd., India's largest solar PV module manufacturer and a leader in the global energy transition, is pleased to announce the receipt of order for a major renewable power project of 150MW for the supply of solar modules from a renowned customer engaged in owning, developing, and operating renewable power projects in India. The modules are scheduled to be supplied in the next financial year, 2025-26. Waaree operates an NABL-accredited testing lab, ensuring the highest standards of excellence, it said. The execution of this pro

Global headwinds, tech trends highlighted in CEOs' messages to teams

N Chandrasekaran, chairman, Tata Sons, started his letter describing 2024 as 'another unpredictable year'

Ireda loan disbursement up 41% to Rs 17,236 crore in December quarter

State-owned Indian Renewable Energy Development Agency (IREDA) has logged 41 per cent loan disbursement growth to Rs 17,236 crore in the December quarter. As per provisional figures, IREDA sanctioned loans worth Rs 31,087 crore in the third quarter, marking an extraordinary 129 per cent Year-on-Year (YoY) rise compared to Rs 13,558 crore in the corresponding period last year, according to a company statement issued late Tuesday evening. Loan disbursements also witnessed significant growth, increasing by 41 per cent YoY to Rs 17,236 crore from Rs 12,220 crore a year ago, the statement said. The outstanding loan book surged by 36 per cent, reaching Rs 69,000 crore as of December 31, 2024, compared to Rs 50,580 crore last year. "IREDA's outstanding performance reflects our unwavering commitment to driving India's renewable energy transition. "The 129 per cent growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in ...

Focus on next-gen therapeutics, AstraZeneca to restructure biopharma unit

Global portfolio includes over 20 novel therapies; development follows reports of layoffs affecting over 125 employees within the unit

Adani Enterprises revenue to jump to Rs 1.5 trn, earnings to rise 46%

Adani Enterprises Ltd, the flagship company of the ports-to-energy conglomerate helmed by billionaire Gautam Adani, is likely to see consolidated revenue grow at a CAGR of 17.5 per cent and net earnings by 45.8 per cent over 2023-24 fiscal year (FY24) and FY27, a report said. AEL is one of India's largest listed incubators which has conceived, grown, matured and demerged many successful businesses, including ports company Adani Ports & SEZ, city gas distributor Adani Total Gas, power transmission company Adani Energy Solutions, renewable energy firm Adani Green Energy, Adani Power, and commodities firm Adani Wilmar. The company is incubating airports, manufacturing solar modules and wind turbines, green hydrogen, road construction, data centre, and copper. "Adani Enterprises Ltd (AEL), the incubator of many successful industry-leading businesses, is ambitiously diversifying into green hydrogen and its ecosystem to drive future growth," Ventura Securities said in the ...

Motorcycle maker Ultraviolette to accelerate commercial operations in 2025

Electric premium motorcycle maker Ultraviolette is scaling up its commercial operations, targetting monthly sales of 1,000 units a month by the second half of 2025 while also gearing up to enter European and other international markets next year, according to top company officials. The company plans to increase its sales network to 30 cities next year from 12 cities at present, having put in place the technology base for its product and validated through real-world testing, Ultraviolette CTO and co-founder Niraj Rajmohan told PTI. "This year (2025) is where we are starting to scale up from a commercialisation point of view. The product and technology are very stable. It also gives us that ability to sustainably produce and be economically viable from a company operating standpoint," he said. When asked about the volume target, Rajmohan said the company's objective is to clock about 1,000 units a month by the second half of 2025. So far, the company has sold a total of 1,000 units o