SEBI rejects lenders claims in Karvy matter

Previously, on SEBI instructions the depositories had transferred back securities worth Rs 2000 crore to their rightful owners. The lenders (Bajaj Finance, ICICI Bank, HDFC Bank, IndusInd Bank) had then approached the Securities Appellate Tribunal (SAT) challenging the transfer as the subject securities were pledged with them by Karvy. SAT further directed the lenders to … Read more

Rivigo raising $20 million from SAIF, Spring Canter

As per reports, Logistics behemoth Rivigo is raising a round of ₹141.97 crore ($20 million) from existing investors SAIF Partners and Spring Canter Investment Ltd. The current round seems to be at the same valuation as the previous one. The company was valued at $1.1 billion in September. Rivigo was founded in 2014 and besides … Read more

AU Bank announces the completion of Temasek’s investment for 4.8% stake

AU Bank (AU) announced that Temasek, via its wholly-owned subsidiary Camas Investments Pte. Ltd, has invested Rs. 525 Crores towards conversion of their 1,01,04,364 warrants. Pursuant to this conversion Temasek has firmed up their stake at 4.8% in AU Bank. Though the said transaction is part of Temasek’s original commitment in Jun 2018 to invest … Read more

Ecozen, an agritech start-up raises $6 mn

All of us are recently witnessing how onion prices have increased significantly. Hopefully, over period these king of issues get addressed by players like Ecozen. Ecozen is an integrated agricultural play whereby it helps farmers who grow perishables to increase their yields, store their produce longer, and realise higher prices. The Company has announced that … Read more

Reliance may do a Jio like disruption in diagnostics

Reports indicate that Reliance Life Sciences (RLS) is considering a foray into India’s medical diagnostics testing industry estimated at $10bn. Current capacities are claimed to be under-utilised in the diagnostic industry.  As per Dr. A Velumani (CMD, Thyrocare), around 95 per cent of the laboratories are working under capacity, with machines lying idle. He believes … Read more

Purplle raises funding from Goldman Sachs

As per media reports, (Purplle), an online beauty and personal care platform, has raised a $30 million round led by the global investment bank Goldman Sachs.  The existing investors IvyCap Ventures, Blume Ventures and JSW Ventures are also reported to have participated in the round. Purplle has seen a commendable turnaround in the last … Read more

Infosys faces class action lawsuit in US for false financial statements

LOS ANGELES : The Schall Law Firm, a shareholder rights litigation firm based in Los Angeles has announced the filing of a class action lawsuit against Infosys Limited. According to the complaint, Infosys made false and misleading statements to the market and used improper recognition of revenue to boost short-term profits. This comes months after … Read more

87% of impacted Karvy clients get back their pledged shares

This came as a huge relief to more than 82,000 clients of Karvy getting back shares estimated at Rs 2,000 crore. Over last few days, there has been a huge uncertainty around what would happen to the shares fraudulently pledged by Karvy (belonging to its clients) to banks and the finance companies to obtain funds … Read more

CCI approves Amazon and Future deal

The deal was in works since the beginning of the year and recently in August Future group had announced that Amazon has agreed to pick up pick up 49% stake in Future Coupons, the promoter entity of Future Retail. The deal thereafter went for The Competition Commission of India’s (CCI) approval, which has now been … Read more