Page 5 - Company News

German DEG, Citi to provide $76 million funding to Shriram Finance

German development finance institution DEG and Citi on Thursday announced providing a USD 76-million co-financing package to Shriram Finance Ltd, aimed at accelerating economic inclusion, rural development, and climate-aligned mobility pan-India. Under this, while DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH) has provided a 40 million euro loan (around USD 46 million) and Citi has extended a Rs 260 crore loan to the NBFC, a statement said. This collaborative and innovative financing is designed to strengthen the company's outreach to priority segments that remain underserved in India's credit ecosystem, it said, adding Citi acted as a lead arranger and coordinator for this financing. This is the second such collaboration between the two co-financing partners following the successful transaction supporting CreditAccess Grameen in 2024, underscoring the institutions' shared commitment to advancing inclusive and climate-positive financing in India, the statement said.

"India missed out on chips, models but real opportunity is in applications"

Nitin Sharma, partner at venture capital firm Antler India, discusses where Indian AI startups can compete globally and why founder quality matters more than age

Wipro set to lose $500-million Estee Lauder contract to Accenture

The shift of Estee Lauder's $500-million contract to Accenture marks a setback for Wipro as CEO Srini Palia pushes large efficiency-led deals amid renewed focus on discretionary spending

Brigade Group leased out 156K sqft to 2 global firms at Brigade Twin Towers

Brigade Group has leased 156,000 sq ft at Brigade Twin Towers to MANN+HUMMEL and Labcorp, signalling sustained demand for Grade A offices and strengthening the project's commercial appeal

QatarEnergy halts production of some downstream products after LNG shutdown

QatarEnergy will also stop making downstream products including urea, polymers and methanol, according to a statement on Tuesday

German firm Nemetschek appoints Alok Sharma as MD, VP of India biz

Germany-based Nemetschek Group, which provides software solutions for the construction sector, has appointed Alok Sharma as Managing Director and Vice President, India. The company provides software solutions for architecture, engineering, construction and operations (AEC/O) and media industries. In a statement, Nemetschek Group said Alok will anchor the company's India growth roadmap. Pete Nicholson, Senior Vice President, Nemetschek Group, said, "India represents one of the most dynamic construction markets globally. As infrastructure investments scale and digital mandates gather pace, strengthening local leadership is central to our long-term growth strategy." Founded in 1963, the Nemetschek Group, which has been listed in key German stock indices MDAX and TecDAX since 1999, achieved a revenue of EUR 1,191.2 million and an EBITDA of EUR 371.1 million in 2025, according to preliminary, unaudited figures.

SBI DMD Nitin Chugh exits as contract term ends, digital role concludes

SBI Deputy Managing Director Nitin Chugh, who led the bank's digital banking and transformation initiatives including YONO 2.0, has exited following the conclusion of his contract

Extended Iran conflict may disrupt L&T's order inflows, regional projects

With nearly half its order book linked to the Middle East, L&T may see short-term disruptions from the Iran conflict, raising concerns over execution, exports and regional project pipelines

Mercedes-Benz turns to localisation to lower luxury vans' entry price

Mercedes-Benz has localised assembly of V-Class in India, bringing its entry price to ₹1.4 cr, reducing dependence on costly imports, as the company repositions the van within its top-end portfolio

Pronto raises $25 million to expand instant-home services across cities

Epiq Capital leads the round; Pronto's daily bookings surge to over 18,000

Seiko resets its India clock, targets 2x revenue in 3 years: Kawada

Japanese watchmaker plans 30 exclusive boutiques by 2028

Dabur acquires minority stake in RAS Beauty under new ventures arm

Dabur Ventures has made its first investment by acquiring a minority stake in RAS Beauty for Rs 60 crore, strengthening Dabur's presence in the fast-growing premium skincare market

Gaurs Group to invest ₹250 cr for precast manufacturing plant in Noida

Gaurs Group will invest Rs 250 crore to build a precast and modular construction facility in Noida after signing an MoU with Elematic India, aiming to boost efficiency and project timelines

Lemon Tree eyes overseas expansion in next 5 years as outbound travel booms

India is expected to become ‌the world's fourth-largest outbound tourism market by 2035, behind the U.S., China and Germany, rising from 10th place, Capital Economics said last year

VIL, Ericsson deepen partnership to boost postpaid and network services

Telecom operator Vodafone Idea has deepened its strategic partnership with Swedish communications gear maker Ericsson to modernise its postpaid services while supporting its ongoing network expansion across the country, according to a release on Monday. Ericsson will continue to strengthen VIL's network footprint through the deployment and integration of new network sites, capacity augmentation, and coverage expansion. These efforts will lead to enhancing indoor coverage, improving data capacity, and supporting VIL's ongoing efforts for expanding 5G and 4G connectivity. Announcing the deepening of the partnership, the release said that since 2024, Ericsson has deployed new 5G and 4G sites, layer additions on existing sites and High-Performance Small Cell towers across 10 circles. "Vodafone Idea... has expanded its strategic partnership with Ericsson to modernise its postpaid services while supporting its ongoing network expansion across the country," it said. Building on the migra

India on Ericsson's speed dial for tech strategy: President & CEO Ekholm

Ericsson to continue cost cuts through 2026, bets on India and AI-led 5G growth

Bira91's current, former employees protest as unpaid dues stack up

Over 40 current and former Bira91 employees gathered outside Ankur Jain's home alleging prolonged non-payment of salaries, even as the company pursues investors and asset sale talks

Bharti Airtel to invest in data centres, ramp up capacity to over 1 Gw

Sunil Mittal says Airtel will invest Rs 39,000 crore across India and Africa, expand data centre capacity beyond 1GW, and pursue only attractive opportunities while keeping shareholder value paramount

More fintech firms, banks may come under scanner after Fino chief's arrest

Crackdown on payout API misuse in banned real money gaming may widen probe to payment aggregators and smaller banks amid heightened regulatory scrutiny

Amazon India announces zero-referral fees on over 125 million products

By eliminating referral fees across over 1,800 categories covering over 12.5 crore products, and reducing logistics costs, sellers can save up to 70 per cent in fees