Forget Black Friday or Cyber Monday. Travis Kalanick is having the sale of the century. The Uber Technologies Inc. co-founder unloaded $350 million more of stock this month, bringing his proceeds to more than $2.1 billion since a share lockup ended November 6. The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a … Read more
Citing regular board approvals for various inter-corporate loans, former CG Power Industrial Solutions’ non-executive chairman Gautam Thapar has refuted allegations of fund misuse amid alleged governance lapses coming under the regulatory scanner, according to documents submitted by him to the government. In a 36-page submission to the corporate affairs ministry early November, Thapar, who was … Read more
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
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 (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
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
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
As per media reports, Purplle.com (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
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