Rakesh Jhunjunwala’s Rare Enterprises and its partners have signed a term sheet to invest in Syska LED Lights Pvt Ltd, promoted by the Uttamchandani family. In accordance with the terms of the signed term sheet, about 15% of the funds have been deployed already. It is expected that the transaction should conclude in the next … Read more
RPG Enterprises Chairman Harsh Goenka shared a video in which Nadir Godrej, MD of Godrej Industries, is seen reciting a moving poem for brother Adi Godrej marking his retirement as Godrej Industries Chairman. 79-year-old industrialist Adi Godrej will step down as chairman of Godrej Industries Ltd (GIL) after more than four decades, with effect from … Read more
Ride-hailing startup Ola has selected banks including Citigroup Inc. and Kotak Mahindra Bank Ltd. to manage its Mumbai initial public offering that could raise about $1 billion, according to people familiar with the matter. The company, backed by SoftBank Group Corp. and Tiger Global Management, has also picked Morgan Stanley for the listing, said the … Read more
Freshworks Inc., one of the country’s best-known software product startups, has kickstarted the process for an initial public offering (IPO) in the United States, buoyed by a surge in customer signups and revenue in recent months. On Friday, the San Mateo-based startup, which was founded in Chennai, filed its application with the US Securities and … Read more
After injectables and oral solid drugs, now pharmaceutical firms are focusing on coming up with re-purposed inhalation products for Covid-19. While drug major Lupin is working on a remdesivir powder for inhalation, Mumbai-based Glenmark has tied up with a Canadian Biotech firm for Nitric Oxide nasal spray that reduces Sars-CoV-2 viral load and thus transmission. … Read more
When Steve Jobs resigned as Apple CEO in August 2011, it marked the end of an epic 15-year burst of creative and commercial energy. Jobs’ successor, Tim Cook, was a skilled operator with no evidence of product vision. Even the most bullish Apple fans would not have imagined what’s happened since Cook took over. See … Read more
Warren Buffett has underlined how lucky he is by pointing to Afghanistan. The investor won the “ovarian lottery” by being born in the US, where his skills are rewarded. Buffett has also invoked Afghanistan to highlight inequality and push for higher taxes. See more stories on Insider’s business page. Warren Buffett’s talent for spotting undervalued … Read more
The Directorate General of Civil Aviation (DGCA) on Thursday allowed Boeing 737 Max to fly in Indian airspace again, after carrying out the required safety modifications. The Boeing 737 Max planes were grounded globally in March 2019 after two crashes within 5 months. Recently, these planes were allowed to fly again by regulators of different … Read more
Global venture capitalists and private equity investors are allocating more funds to India as China steps up regulatory clampdown on its tech companies. India overtook China in July for the first time since 2013 in VC funding, according to a Bloomberg report. Indian startups raised nearly $8 billion in July, while funding to Chinese firms … Read more