Page 9 - Latest Updates on End of an Era: Ratan Tata dies at 86

Ratan Tata to divest all his 77,900 shares of FirstCry in upcoming IPO

Veteran industrialist and former Tata Group Chairman Ratan Tata is looking to sell all 77,900 shares of Brainbees Solutions Ltd, which owns omnichannel baby and mother-care product platform FirstCry, in the upcoming IPO. Tata became an investor in the company in 2016 by infusing Rs 66 lakh initially. He was allotted preference shares of the company. According to the draft red herring prospectus (DRHP) filed on Thursday, Tata is offering to sell his entire 77,900 shares, amounting to a 0.02 per cent stake, of FirstCry. The Pune-based company's proposed Initial Public Offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 1,816 crore and an Offer For Sale (OFS) of up to 5.44 crore equity shares by existing shareholders, as per the draft papers. As a part of the OFS, SVF Frog, a Cayman Islands-registered entity of Softbank, will sell 2.03 crore equity shares of Brainbees Solutions Ltd, and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares of

Ratan Tata's birthday: Interesting facts about the legendary industrialist

Ratan Tata turns 86: The Tata Sons Chairman emeritus has earned universal adulation for his philanthropic activities

India is world's emerging workforce, says Tata Sons Chairman Chandrasekaran

At 16th JRD Tata oration, N Chandrasekaran highlights the role of Indian youth in global development and the importance of education, healthcare, and digital inclusivity

In Instagram post, Ratan Tata flags fake interview recommending investments

Veteran industrialist and former Tata Group Chairman Ratan Tata on Wednesday issued a "fake" alert for misusing his name on social media to "exaggerate investment" with risk-free and 100 per cent guarantee. In a post on Instagram, Tata called out a post from a user by the name of Sona Agrawal that used a fake interview of him in a video recommending investments. In the fake video, Tata addresses Sona Agrawal as his manager. "A recommendation from Ratan Tata for everyone in India. This is your chance to exaggerate your investment right today risk free with 100 per cent guarantee. Go to the channel right now," read the caption of the video post. The video also showed messages of people receiving money in their account. Tata wrote FAKE on the video and also on the screenshot of the caption of the video.

CashKaro expects profitability in 2 yrs, user base to grow 100 mn in 3 yrs

Ratan Tata-backed startup Cashkaro expects profitability in the next two years and to grow its user base by four-fold to 100 million in the next three years, a senior company official said on Friday. While speaking to PTI on the sidelines of the Digital Acceleration and Transformation Expo (DATE), CashKaro and EarnKaro co-founder Swati Bhargava said the company has enough revenue to report profitability anytime now, but it is ploughing back money into marketing campaigns to grow its user base. When asked about the timeline that CashKaro expects to report profitability, Bhargava said, "We are looking at two years because, after two years, we see we can do away with some of our marketing campaigns". CashKaro has thus far raised over Rs 255 crore from prominent investors like Kalaari Capital, Ratan Tata, Korea Investment Partners and Affle Global Pte Ltd. Bhargava said that at present the company sees no immediate requirement for further fundraising till the time it becomes ...

Ratan Tata refutes reports of promising to pay Rashid Khan Rs 10 crore

WhatsApp forwards and videos were floating on social media that had fraudulently claimed that Ratan Tata had announced a Rs 10 crore reward for Afghanistan cricketer Rashid Khan

Air India announces senior level appointments; Klaus Goersch new COO

Air India on Friday announced the appointment of Klaus Goersch as the Executive Vice President and Chief Operations Officer, as well as various other senior level appointments. In the newly-created position at the airline, Goersch will oversee flight operations, engineering, ground operations, Integrated Operations Control and cabin crew functions. Air India said incumbent chief of operations R S Sandhu will transition to an advisory role. In a release, Air India said Goersch's role includes focus on the harmonisation of the four Tata airlines' operating procedures, the Airbus A350 entry-into-service programme and assisting the team establishing the carrier's new training academy. A licensed B777/787 pilot, he had served in similar positions in both British Airways and Air Canada. Air India has also announced the appointment of Manish Uppal, who transitioned from AirAsia India a few months ago, as Senior Vice President for flight operations. Besides, Henry Donohoe's corporate saf

TaMo drives in change on the shop floor; Women to comprise 25% of workforce

Tata Motors' TCF-2 plant in Pimpri, near Pune, already has 1,500 women on the shop-floor who assemble the sports utility vehicles Harrier and Safari

CM Shinde presents Ratan Tata with 'Udyog Ratna', calls him an institution

Maharashtra Chief Minister Eknath Shinde on Sunday hailed industrialist Ratan Tata, the first-ever recipient of the 'Udyog Ratna' award instituted by the state government, as an "institution". Shinde also said industries in Maharashtra are the main strength of the growth engine. He was speaking at the Udyog Puraskar 2023 distribution ceremony here where he praised Ratan Tata. The 'Udyog Ratna' award was presented to the 85-year-old chairman emeritus of Tata Sons by Shinde and Deputy CMs Devendra Fadnavis and Ajit Pawar at the industrialist's home in south Mumbai on Saturday. On Sunday, Adar Poonawalla of Serum Institute was honoured with the Udyog Mitra award while the Udyogini award was given to Gauri Kirloskar. The best Marathi businessman award was bestowed upon Vilas Shinde, the MD of Sahyadri Farmers' Producers Company. None of us have seen God, but it is believed that God is everywhere. We have selected a 'dev manoos' (Godly person) like Ratan Tata for the (first ever) Udyog

Maharashtra: Industrialist Ratan Tata conferred with Udyog Ratna award

Veteran industrialist Ratan Tata was on Saturday conferred the first ever Udyog Ratna' award instituted by the Maharashtra government. The award was presented to the 85-year-old chairman emeritus of Tata Sons by Chief Minister Eknath Shinde and Deputy CMs Devendra Fadnavis and Ajit Pawar at the industrialist's home in Colaba, south Mumbai. The honour comprised a shawl, a citation and a memento from the Maharashtra Industrial Development Corporation (MIDC). Talking to reporters afterwards, Shinde said honouring Tata as Udyog Ratna' has enhanced the prestige of the award. The contribution of the Tata group in all sectors is immense. Tata means trust, he said. The steel-to-salt group operates in more than 100 countries across six continents. In 2021-22, the collective revenue of Tata companies stood at $128 billion.

Industrialist Ratan Tata conferred with Udyog Ratna award by Maha govt

Veteran industrialist Ratan Tata was on Saturday conferred the first ever Udyog Ratna' award instituted by the Maharashtra government. The award was presented to the 85-year-old chairman emeritus of Tata Sons by Chief Minister Eknath Shinde and Deputy CMs Devendra Fadnavis and Ajit Pawar at the industrialist's home in Colaba, south Mumbai. The honour comprised a shawl, a citation and a memento from the Maharashtra Industrial Development Corporation (MIDC). Talking to reporters afterwards, Shinde said honouring Tata as Udyog Ratna' has enhanced the prestige of the award. The contribution of the Tata group in all sectors is immense. Tata means trust, he said. The steel-to-salt group operates in more than 100 countries across six continents. In 2021-22, the collective revenue of Tata companies stood at $128 billion.

Ratan Tata to get Maharashtra govt's first 'Udyog Ratna' award: Minister

The Maharashtra government has decided to confer the first 'Udyog Ratna' award on veteran industrialist and chairman emeritus of Tata Sons, Ratan Tata

Green causes get less than 10% of CSR money, platform launched to up funds

Stating that environmental causes accounted for less than a tenth of corporate social responsibility (CSR) funding between 2015 and 2021, the International Climate Collaborative (ICC) on Thursday launched a dedicated platform to help funnel more resources for such purposes. The 'Earth Exponential' platform, which is backed by JSW Foundation, will bring together funders and non-profits and showcase credible, high-impact and India-led climate solutions, as per an official statement. The statement said in the seven years to 2021, environment-related causes got Rs 6,183 crore of the overall funding of Rs 67,193 crore in CSR. The platform will be curating, evaluating and displaying home-grown climate projects, and enabling them to scale by matching them to funders, it said. It aims to reduce entry barriers for funders through simplified solution discovery and knowledge building, the statement said. "India's home-grown climate solutions offer immense potential to address climate change

Have no associations with cryptocurrency of any form, says Ratan Tata

"If you see any articles or ads mentioning my association with cryptocurrency, they are absolutely untrue and meant to scam citizens," he added

Ratan Tata-backed Upstox breaks even in FY23, aims 10x growth in user base

Ratan Tata-backed discount broking company Upstox achieved break-even in FY2022-23 with the overall revenue crossing Rs 1,000 crore, a top official has said. The company, which also counts Tiger Global among its external investors, is aiming for a 10-times jump in its customer base to 10 crores in the next five-six years, its co-founder and chief executive Ravi Kumar told PTI. Its operating revenue grew 40 per cent to Rs 1,000 crore, he said, adding that it also generated a positive net cash flow of approximately Rs 130 crore in the last quarter of FY2022-23. The company's CEO said it has cash reserves of over Rs 1,000 crore now, and is looking for both organic and inorganic growth opportunities. We remain committed to driving growth sustainably and profitably, he stressed. At present, the company, founded in 2009, serves 1.1 crore customers across the country, with over 85 per cent of them being in tier-II and tier-III cities and 70 per cent being first-time investors. Mumbai, D

Weekend Bites: Corporate Samurai keels over, and big deal that's Met Gala

In which we munch over the week's platter of news and views

Tata Group-owned Air India to hire over 1,000 pilots, to expand its fleet

The move to hire more pilots comes as the Tata Group-owned airline plans to extend its fleet and network. Air India has placed an order for 470 aircraft with Boeing and Airbus

Top headlines: GST authorities quiz auto dealers, electronics exports up

Business Standard brings you top news at this hour

Over 1,500 pilots of Tata Group-run airlines seek Ratan Tata's help

The pilots feel that their concerns are not being heard or addressed by the current HR team

Air India pilots seek Ratan Tata's intervention against airlines' HR dept

The pilots of Air India, in an online petition to Tata Sons Ltd Chairman Emeritus Ratan Tata, have said their morale is low as they are not being treated with respect by the airlines' HR Department