Edtech firm Upgrad has signed a term sheet to acquire rival Unacademy in an all-stock transaction, founders of the two companies said in separate posts on X on Saturday, marking a significant consolidation move in India’s education technology sector.“We at Upgrad have signed a term sheet to acquire Unacademy in an all-stock deal,” Upgrad founder … Read more
The oversized syndicate will help manage distribution, anchor allocations and investor outreach for one of India’s biggest listings while ensuring major dealmakers remain inside the transaction. Source link
IndiGo CEO Pieter Elbers has stepped down from his role three months after the airline was hit by one of the worst flight disruptions in the Indian aviation history. The resignation is with immediate effect. The airline’s promoter Rahul Bhatia will assume the management of the airline in the interim, till the replacement is found.
The government has eased foreign direct investment (FDI) norms for countries sharing land borders with India, including China, by amending Press Note 3 of 2020, government sources said on Tuesday, reported news agency PTI.The decision was approved at a Union Cabinet meeting chaired by Prime Minister Narendra Modi, sources added.Under Press Note 3 introduced in … Read more
Meta has acquired Moltbook, the viral, Reddit-style forum for AI agents. Moltbook’s creators, Matt Schlicht and Ben Parr, will join Meta’s Superintelligence Labs. It comes after Peter Steinberger, the creator of Openclaw, joined OpenAI after also being courted by Mark Zuckerberg. Mark Zuckerberg couldn’t score OpenClaw’s creator, but he has scooped up the guys behind … Read more
The Reserve Bank of India has capped the maximum dividend payout by banks at 75% of profit after tax (PAT), with the new prudential norms set to take effect from the financial year 2026-27.The central bank on Tuesday issued the Reserve Bank of India (Commercial Banks – Prudential Norms on Declaration of Dividend and Remittances … Read more
Saudi Aramco jumped the most since April 2023 on Sunday as the Iran war entered its second week, prompting supply disruptions that may send oil prices higher when global markets reopen. Shares of the state-backed oil giant climbed as much as 4.9% in Riyadh before paring gains to close up 4.1%, on the first day … Read more
Apple Inc. is in discussions with key Indian banks and global card networks in preparation to start Apple Pay in the world’s most populous country. The iPhone maker is in talks with ICICI Bank Ltd., HDFC Bank Ltd. and Axis Bank Ltd., as it aims to introduce its payment service in India around the middle … Read more
Zomato founder Deepinder Goyal on Friday announced that his new health tech venture, Temple, has secured $54 million in its first funding round from friends and family, and valued at approximately $190 million.”Temple has raised its first round. Friends and family. $54m. Post-money valuation of ~$190m,” said Goyal on X.Temple, which is developing a wearable … Read more