Banks & FIs

StashAway to raise $25 million USD in Series D funding round led by Sequoia Capital India

DUBAI, UAE, April 26, 2021 /PRNewswire/ — StashAway is raising $25 million USD in its Series D funding round led by Sequoia Capital India, one of the region’s leading venture capital firms. StashAway’s existing investors, Eight Roads Ventures, the global investment firm backed by Fidelity International and early investor in Alibaba; and Square Peg, the largest venture capital fund in Australia, also participated in the round. The … Read more

Razorpay’s valuation triples in six months on latest fundraise

Business payments and financial services startup Razorpay has raised $160 million as part of its Series E round co-led by existing investors, Singapore’s sovereign wealth fund GIC and Sequoia India, at a valuation of $3 billion. Last October, the firm had secured $100 million in a round led by GIC and Sequoia India at a … Read more

Gautam Adani: From a commodities trader to India’s second-wealthiest person, the incredible journey of Gautam Adani

After spending two decades building a business empire centered around coal, Indian billionaire Gautam Adani is now looking beyond the fossil fuel to cement his group’s future. His ambitious plans are getting a boost from Prime Minister Narendra Modi. Adani has emerged as India’s infrastructure king, diversifying from mines, ports and power plants into airports, … Read more

TVS Group’s family members enter into ‘brand agreement’

Family members of the $8.5-billion TVS Group have executed a brand agreement with respect to the use, adoption, and registration of the firm’s word marks, which include trademarks and related composite marks. These marks include TVS, Sundaram, and several others. They may also contain an additional element other than the word mark, in the form … Read more

PNB incorporates PNB Cards & Services for credit card business

Public sector lender Punjab National Bank on Wednesday said it has incorporated a wholly-owned subsidiary, PNB Cards & Services Limited, which will deal with the banks’ non-financial support services related to its credit card business. “The exchange is hereby informed that a wholly-owned subsidiary of the bank namely PNB Cards & Services Limited has been … Read more

Indian Public Sector Banks – have they bottomed out?

I rarely do bottom picking. After a long time, I am getting enticed to do so. Checkout, if it makes sense…

Better times await fixed-income seekers

With interest rates bottoming out and the economy picking up, opportunities for higher returns may open up The spotlight has been on stock markets since the Budget presentation and subsequent stock swings have given palpitations to the adventurous. But this Budget had some significant signals for fixed income investors too, which have flown under the … Read more

SEBI moots concept of ‘accredited investor’

Regulator SEBI on Wednesday sought comments on the proposal to introduce the concept of ‘accredited investors’ in the Indian securities market. The comments can be sent to the regulator in a prescribed format latest by March 18, it said in a consultation paper. SEBI noted that accredited investors, also called qualified investors or professional investors, … Read more

Government has no business to be in business: Narendra Modi

Mr. Modi also said the Centre’s policy is to either monetise or modernise public sector enterprises, with the intent that the government has “no business to be in business”. Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring … Read more