Sector: IT
L&T acquires 21% stake of E2E
Larsen & Toubro (L&T) is acquiring 21% stake of E2E Networks. E2E is a listed Company It was founded in 2009 and got listed in 2018 The Company mainly offers public cloud to it’s customers 21% stake acquisition by L&T is a combination of primary and secondary 15% primary through preferential allotment @ 3,622/ share … Read more
RIL, Nvidia partner to build large-scale AI infrastructure in India
NVIDIA CEO Jensen Huang and Reliance Industries Chairman Mukesh Ambani today announced a strategic partnership to build state-of-the-art AI infrastructure in India at the NVIDIA Summit in Mumbai “It is important that we design and build infrastructure so that to use AI our customers don’t have to change their phones or computers but they can … Read more
Zomato approves a significant QIP raise
Along with it’s Q2 FY 25 results,. Zomato’s board has approved a QIP raise. QIP is for Rs 8,500 cr Raise is to strengthen the balance sheet As per Company – “While the business is now generating cash (vis-a-vis a loss making business at the time of IPO), the company believes that it needs to … Read more
Hyundai Motor India IPO gets approval from market regulator Sebi
Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation. Â The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters. This would make it the first carmaker to go … Read more
AI-led dating platform Schmooze raises $4 million series A round
Schmooze, an AI-powered meme-based dating platform, has closed its series A round of $4 million, led by Elevation Capital. The round also saw participation from angel investors, including the founders of UltraHuman, The Souled Store, Mosaic Wellness, and Paytm. Powered by over 1 billion meme interactions, the platform will use the funding to further enhance … Read more
DGGI gives partial relief to Infosys, closes Rs 3,898 cr FY18 GST tax case
The Goods and Services Tax (GST) investigative arm, Directorate General of Goods and Services Tax Intelligence (DGGI), has given partial relief to IT services major Infosys by closing the tax proceedings for financial year 2017-18 (FY18), the company informed exchanges on Saturday evening. The GST amount during this period was Rs 3,898 crore. The move … Read more