In a final goodbye of sorts to Air India, finance minister Nirmala Sitharaman announced the allocation of Rs 51,000 crore towards clearing Air India’s dues to various banks. This assumes significance since after the sale of Air India to the Tata group, almost Rs 46,000 crore of the airline’s Rs 61,000 crore debt was supposed … Read more
Worldwide semiconductor revenue increased 25.1 per cent in 2021 to total $583.5 billion, crossing the $500 billion threshold for the first time, a Gartner report showed on Monday. Samsung Electronics regained the top spot from Intel for the first time since 2018, with revenue increasing 31.6 per cent in 2021. Its memory revenue grew 34.2 … Read more
The Company is buying 25% into Lavelle Networks Private Limited (LNPL). Key points to note – Investment amount is not disclosed. LNPL’s scale and financials are not disclosed. Reason for not disclosing – confidentiality. Rationale for investment: LNPL founded in 2015 is claimed to be a front runner in Software Defined Wide Area Networks (SD … Read more
Moglix, the industrial business-to-business startup for manufacturing, has raised $250 million in its latest Series F funding round, at a valuation of $2.6 billion. This investment was led by Tiger Global and Alpha Wave Global with Hong Kong based-investment firm Ward Ferry coming on board as a new investor. In 2019, Moglix was the … Read more
Bolt, a San Francisco fintech startup that provides an online checkout solution for other companies, is still in talks to raise new money at a valuation of $14 billion, according to a source familiar with the matter. The deal comes only weeks after Bolt closed $355 million in a Series E round, valuing it at … Read more
Zomato continues to make more investments into start-ups/ emerging companies. 1. Rs 112.2 crore for 19.48% into Adonmo Private Limited Founded in 2016, Adonmo is focused on outdoor digital advertising. The Company reported a revenue of Rs 3.3 crore in FY 21. Investment by Zomato is cash consideration and values Adonmo at Rs 576 crore. … Read more
Indiamart has recently announced a series of acquisitions/ investments. 1. Rs 500 crore for 100% buyout of Busy Infotech Private Limited Consideration is entirely paid in cash. The company provides ‘BUSY Accounting Software’ – a web based business accounting solution for the companies. The solution also offers GST billing & return filing, TDS/TCS, configurable GST … Read more
Moody’s Investors Service Inc.’s move to ramp up Tesla Inc.’s credit rating to the cusp of investment grade is bolstering expectations that the famous electric vehicle maker will secure blue-chip status as soon as early next year. The agency boosted Tesla by two notches to the highest junk rating of Ba1 on Monday, citing improving … Read more