Adani Enterprises in talks for $2-bn mega fundraise

Adani Enterprises, the flagship entity of the Adani Group, is in talks with at least half a dozen sovereign and global pension funds and energy majors, such as the Abu Dhabi Investment Authority (ADIA), the Qatar Investment Authority (QIA), a BNP Paribas arm and TotalEnergies SE, to raise up to $2 billion in equity sales. … Read more

Nykaa raises Rs 2,395.84 cr in anchor book allocation ahead of IPO

Beauty startup Nykaa has raised Rs 2,395.84 crore in its anchor book allocation from 174 investors ahead of its initial public offering (IPO). The firm allocated 21,296,397 shares at the upper price band of Rs 1,125 per equity share, it said in an exchange filing.   Some of the marquee investors include Black Rock, Fidelity, … Read more

ICICI Lombard launches BeFit cashless OPD and wellness solution to users

ICICI Lombard has launched BeFit,  a service provided through its ILTakeCare app that gives customers benefits of complete OPD services—that is, doctor consultation, pharmacy, diagnostics services, etc.—on a cashless basis. “The solution empowers customers to benefit from a host of wellness services. As good health and immunity gain importance, this comprehensive solution will come in … Read more

Chip shortage may pull down auto volume growth to 11-13%: Report

The ongoing chip shortage is likely to moderate passenger vehicle sales growth to 11-13 per cent this fiscal, down from the earlier volume growth forecast of 16-17 per cent, delaying the industry recovery as the waiting period is increasing amid strong demand due to production curbs, says a report. The semiconductor shortage will lead to … Read more

PayPal says it is currently not pursuing Pinterest acquisition

PayPal Inc said it is not pursuing an acquisition of Pinterest Inc at this time, after several media reported last week that it was in talks to buy the digital pinboard site for as much as $45 billion.   The latest development, which dashed the prospect of Pinterest getting access to PayPal’s massive user base, … Read more

Groww’s valuation hits $3 bn as start-up raises $251 mn in Series E round

Fintech unicorn start-up Groww’s valuation has reached $3 billion after a fundraise of $251 million, led by ICONIQ Growth, including participation from investors like Alkeon, Lone Pine Capital, Steadfast, and existing investors.   The platform, which can be used to invest in direct mutual funds, stocks, ETFs and IPOs, currently has more than 20 million … Read more

Elon Musk trolls Tim Cook on Twitter over Apple’s $19 cleaning cloth

Tesla CEO Elon Musk has trolled Apple CEO Tim Cook on Twitter over Apple’s new $19 cleaning cloth. In celebration of Apple’s new store in Istanbul, Cook tweeted on Friday: “Introducing Apple Bagdat Caddesi, our beautiful new store in Istanbul. We’re glad to be a part of this vibrant community and we can’t wait to … Read more

Indian businesses emerging stronger from pandemic: Unilever

Global chief executive Alan Jope said the Indian business is emerging stronger from the pandemic but mobility and consumer sentiments remain below pre-pandemic levels. “We are emerging stronger from the pandemic with over 75% of the business winning market share and household penetration continuing to grow well. Mobility and consumer sentiments still remain below 2019 … Read more