Yatra Online Ltd has announced the acquisition of Globe All India Services Ltd (Globe Travels) from Ramkrishna Forgings Ltd for ₹128 crore, aiming to enhance its corporate travel services and drive growth. The acquisition, expected to finalize this quarter, will expand Yatra’s corporate client base by 40%, adding 360 new companies to its existing roster of approximately 850.
This strategic…
Bain Capital, the global private investment firm, is set to significantly increase its investments in India, aiming to double its exposure over the next three years. Pawan Singh, Partner at Bain Capital Advisors India, revealed that the firm plans to focus on larger investments, often exceeding $500 million, in the rapidly growing Indian market.
Since launching operations in India in 2008, Bain…
Zepto, the Indian grocery delivery startup, has achieved a significant milestone with its valuation climbing to $5 billion, thanks to a recent funding round led by General Catalyst Partners. This represents a remarkable 40% increase in the company’s valuation.
The $340 million funding round also welcomed new investors Dragon Fund and Epiq Capital, while existing backers such as Lightspeed…
Emami Limited is set to acquire complete ownership of Helios Lifestyle Pvt Ltd, which is known for its men’s grooming brand, ‘The Man Company.’ This deal involves Emami purchasing the remaining 49.60% stake in Helios, bringing its total ownership to 100%. Emami already holds a 50.40% stake in Helios, making it a subsidiary of Emami Ltd.
The acquisition aligns with Emami’s strategy to…
Wipro Ltd announced on August 30 that Srikumar Rao will take over as the global head of its Engineering Edge business line, starting October 5, 2024. Rao succeeds Harmeet Chauhan, who is leaving to explore new opportunities. Rao, who has been with Wipro for 26 years, previously served as the Chief Operating Officer (COO) of Wipro Engineering Edge (WEE) and the Global Practice Head of Embedded…
At the Global Fintech Festival 2024 in Mumbai on August 28, RBI Governor Shaktikanta Das introduced two groundbreaking digital payment initiatives from the National Payments Corporation of India (NPCI): Bharat BillPay (BBPS) for Business and UPI Circle. These initiatives aim to enhance the inclusivity, security, and efficiency of India’s digital payments ecosystem.
Bharat BillPay for…
Generative AI is increasingly shaping the startup landscape, offering a range of tools that enhance efficiency and speed for new businesses. Despite the buzz surrounding technologies like ChatGPT, the precise impact on economic activity is still emerging. Many businesses, particularly smaller ones, are grappling with how to harness these tools effectively.
Sean Ammirati, a professor at Carnegie…
India’s Eros Investments, through its Immerso AI-IP unit, is set to invest $1 billion in Malaysia to develop a state-of-the-art artificial intelligence park and movie studio, according to a statement from Malaysia’s digital ministry on Thursday.
The ambitious project will include the establishment of an AI university and a data center within the park. This significant investment is anticipated…
LG Electronics Inc. is contemplating an initial public offering (IPO) for its India business as part of its strategy to achieve a $75 billion revenue target by 2030. This marks the first time the South Korean company, which competes with industry giant Samsung Electronics Co., has publicly discussed the possibility of listing its Indian operations.
CEO William Cho revealed that an Indian market…
During the latest earnings season, consumer-facing companies have observed a shift in shopping behaviors towards value-seeking. Lei Chen, co-CEO of PDD Holdings, the parent company of Chinese e-commerce platform Temu, has coined the term “rational consumers” to describe this trend.
In a recent earnings call, Chen characterized these consumers as making more “thoughtful” choices, balancing…
