Zomato launches Xtreme

Zomato has launched intra-city parcel delivery app Xtreme the service will allow merchants to send and receive small parcels within the city packages can weigh up to 10 kgs with the price starting at Rs 35 aim is to leverage Zomato’s existing fleet of 3lakh+ riders for additional revenue it will compete with Swiggy’s Genie, … Read more

Reliance showcases swappable, multipurpose EV batteries

Reliance in recent years has announced big ambitions in the renewable space. In continuation of the same, it has now showcased it’s swappable and multipurpose battery storage technology for electric vehicles (EVs). As part of the plan, RIL has developed a removable lithium-ion battery that can power an electric scooter, electric three-wheeler and a light … Read more

Saregama acquires new age start-up

Saregama India (SIL) has announced acquiring 92.61% of M/s. Pocket Aces Pictures Private Limited (PAPPL). PAPPL, incorporated in December 2013, is a digital entertainment company that primarily creates short-form video content aimed at young Indians, with over 30 new items added every day. It claims an IP catalog of 3000+ content pieces ranging across web … Read more

Axis to increase stake in Max Life

Max Life (ML) is a subsidiary of Max Financial Services Limited (MFSL). ML is currently 87% owned by MFSL and 13% by the Axis group. In 2021, Axis Bank had announced the deal for the acquisition of a stake in ML The lender then through its entities, had collectively acquired a 12.99% stake in Max … Read more

Jio Financial partners with Blackrock

Jio Financial Services Ltd (JFSL), the demerged financial lending arm of Reliance Industries Ltd, and BlackRock, the world’s largest asset manager, have joined hands to set up an asset management company. It’s a 50:50 JV with both partners planning to invest $150 million each in the JV Jio BlackRock will bring BlackRock’s deep expertise and … Read more

M&M buys into RBL

In a sudden announcement, M&M has informed to have acquired 3.53% stake into RBL Bank. Stake has been acquired from secondary market at a total value of Rs 417 cr. Average acquisition price is estimated at around Rs 199 per share as against RBL’s current trading price of Rs 239/ share. M&M has informed that … Read more

Sheela Foam announces two strategic investments

1. 94.66% acquisition of established competitor mattress company ‘Kurlon‘ Cash consideration of Rs 2,035 cr implying a valuation of Rs 2,150 cr Transaction to be completed by November 30, 2023 Kurlon’s revenues: FY 2019-20: Rs 995.56 cr FY 2020-21: Rs 767.25 cr FY 2021-22: Rs 808.80 cr FY 2022-23: awaited EBITDA margins have declined from … Read more

Havells forays into contract manufacturing

The CMD has shared the following – Havells India is going to venture into electronic manufacturing service (EMS) or contract manufacturing space for appliances such as air-conditioners and washing machines to cater to the increasing demand of global brands to have an Indian manufacturing base (and hence reduce dependence on China). On a pilot basis, … Read more