Page 16 - Company News

Circulate Capital raises $220 million in first close of Asia-focused fund

Circulate Capital on Wednesday said it has raised USD 220 million (approximately Rs 2,000 crore) in the first close of its second Asia-focused fund to scale circular supply chains across South and Southeast Asia. The fund has drawn backing from investors, such as Builders Vision and Emerging Market Climate Action Fund (EMCAF). "The fund will now deploy growth capital to scale circular supply chains and recycling businesses across South and Southeast Asia, with a focus on plastic solutions and packaging, as well as electronics and apparel," Circulate Capital said in a statement. It will execute high-growth investments in key markets, such as India, Indonesia, Thailand, Vietnam, the Philippines, and Malaysia. The fundraising comes amid growing recognition of circular supply chains as a strategic priority, driven by tighter regulations, volatile raw material markets and increasing sustainability commitments by global companies. Industry estimates suggest that while the global economy

Maruti Suzuki may raise prices as Iran conflict drives up commodity costs

The carmaker, majority-owned by Japan's Suzuki Motor, said it has not faced any supply disruptions, but acknowledged potential disruptions in the future

CBI files fresh case against Anil Ambani, RCom in ₹3,750 cr LIC fraud case

The CBI on Wednesday registered a fresh case against industrialist Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India, officials said. The CBI has filed the case for the alleged offences of conspiracy, cheating and misappropriation and under the provisions of the Prevention of Corruption Act on a complaint from the LIC, making it the fourth case against the company and Anil Ambani, they said. The agency has alleged that LIC was fraudulently induced to subscribe to Non Convertible Debentures (NCDs) worth Rs. 4500 crore between 2009 and 2012 on the basis of false representations made by Reliance Communications Ltd. and its management regarding the financial health of the company, and security and asset cover offered to LIC while subscribing to the NCDs. The insurer suffered a loss of over Rs 3,750 crore and ordered a forensic audit against the company. The forensic audit report dated October 15, 2020

G+D to scale passkey authentication push in India over next two years

German firm Giesecke+Devrient plans to scale passkey-based biometric authentication in India, partnering with banks and card networks to boost trust and improve transaction success rates

Inox Clean Energy acquires Vibrant Energy at ₹5000 cr enterprise value

Inox Clean Energy acquires Macquarie-owned Vibrant Energy for about ₹5,000 crore, boosting its portfolio and strengthening its presence in the C&I renewable segment

UpGrad targets 50 offline centres in 1 year, 3 to open this month

Edtech firm plans to scale its offline footprint to 50 centres in 12 months, focusing on Tier-II and Tier-III cities amid rising demand for job-ready skills

Retail portfolio quality improves in Jan; war impact under watch: Cibil CEO

Lenders must engage with customers on credit usage, as they did during the pandemic: Bhavesh Jain

Weak rupee, higher fuel costs, Iran war weigh on IndiGo's FY27 outlook

Geopolitical tensions, rising crude prices and rupee depreciation prompt brokerages to cut IndiGo's earnings estimates for FY27 despite stable demand outlook

Paisabazaar gets adverse order under Benami Property Transactions Act

PB Fintech subsidiary receives adverse order under Benami law; company says it will appeal and sees no immediate financial impact

Brookfield India REIT names Shashank Jain as CEO, Alok Aggarwal to retire

Jain, joining from PwC India, will take charge from July 2026 as current chief Alok Aggarwal retires after leading the REIT since its inception in 2021

Future Wealth launches $50 mn fund to back founders across India, UAE

Singapore-based Future Wealth Investments unveils a $50 million venture fund to support early-stage founders across India, UAE and Singapore in sectors such as AI and logistics

CoinDCX sets up ₹100 crore fund for customer education after arrest

Crypto exchange launches Digital Suraksha Network to boost fraud awareness, investor education and law enforcement support after co-founders' wrongful arrest

Flipkart appoints Smita Ojha, Amit Sharma as VPs to scale tech operations

E-commerce firm Flipkart on Monday announced the appointment of Smita Ojha as Vice President of Engineering and Amit Sharma as Vice President of Program Management. The appointments are aimed at scaling the company's core technology and fuelling long-term value creation, Flipkart said in a statement. Ojha will lead the Central Platforms Group (CPG) within Flipkart's OneTech organisation. She brings over two decades of experience and joins from Mindtickle, where she served as Senior Vice President of Engineering. OneTech is Flipkart's unified product and technology organisation responsible for building and operating all digital experiences across the company. Sharma will head the Technical Program Management charter for OneTech. With over 25 years of corporate experience, he previously served as a Director at Amazon and has held leadership roles at Accenture and WNS. "As we enter our next phase of growth and accelerate our AI-native evolution, investing in strong leadership across

Golden Growth Fund aims to liquidate two projects, buy land in FY27

Real estate AIF plans to exit two independent floor projects and acquire land parcels in South and Lutyens' Delhi, amid rising luxury housing demand and price appreciation

myHQ by Anarock eyes Dubai, London expansion despite West Asia conflict

Firm targets Rs 500 crore revenue in five years after pivot to marketplace model, with global expansion plans focused on high-value markets offering long-term growth potential

BlackSoil extends ₹40 crore debt funding to Indifi for SME expansion

BlackSoil Capital invests Rs 40 crore in Indifi to strengthen SME lending capabilities and support expansion of digital credit solutions for underserved businesses

Burman family raises stake in Religare Enterprises to nearly 30%

Family crosses 30% stake in Religare Enterprises through open market purchases, with potential to exceed 34% after warrant conversion next year

HLL Lifecare secures ISO 9001:2015 for retail pharmacy operations

HLL Lifecare Limited, a Mini Ratna public sector enterprise under the Union Ministry of Health and Family Welfare, has secured ISO 9001:2015 certification for its retail pharmacy operations. HLL's retail pharmacy network spans 239 centres nationwide, including AMRIT Pharmacies, AMRIT Opticals, HLL Pharmacy & Surgicals, and HLL Opticals, according to a statement on Monday. The certification is expected to bring standardisation, consistency, and greater transparency to HLL's retail operations, strengthening patient trust, the statement said. The achievement comes during a milestone year as HLL celebrates its diamond Jubilee alongside a decade of AMRIT (Affordable Medicines and Reliable Implants for Treatment). The 10th anniversary of AMRIT was commemorated on 15 November in New Delhi and inaugurated by Union Health and Family Welfare Minister J P Nadda, it added. Since its launch in 2015 at AIIMS New Delhi, AMRIT has expanded into a nationwide network covering 24 states and five ...

Japan's JFE Steel invests ₹7,875 crore for 25% stake in JSW Kalinga Steel

Sajjan Jindal-led JSW Steel on Monday said Japan's JFE Steel Corporation has invested Rs 7,875 crore to acquire 25 per cent stake in JSW Kalinga Steel Ltd. The investment is the first tranche of JFE's planned stake in JSW Kalinga, with 2,26,94,524 equity shares allotted to the Japanese firm on Monday, JSW Steel said in a BSE filing. "JFE Steel Corporation (JFE) has invested Rs 7,875 crore, being the first tranche of JFE's investment in JSW Kalinga Steel Ltd (JSW Kalinga) and 2,26,94,524 equity shares of JSW Kalinga have been allotted to JFE today (i.e. March 30, 2026), resulting in JFE holding 25 per cent shareholding on a fully diluted basis in JSW Kalinga," the filing said. Following the recent allotment and board changes at JSW Kalinga under the joint venture agreement (JVA), JSW Steel, and JFE Steel have established joint control over JSW Kalinga and its wholly owned subsidiary, JSW Sambalpur Steel Ltd. JFE's acquisition of an additional 25 per cent stake in JSW Kalinga for Rs

EPL to merge with Indovida, creating $2 billion packaging platform

The merger will create a $2-billion packaging platform combining flexible and rigid capabilities, with a strong focus on emerging markets and global expansion