Bharat Heavy Electricals Ltd (BHEL) has announced that it has been awarded a ₹11,000 crore contract from Adani Power and its subsidiary, Mahan Energen Ltd (MEL). The contract involves setting up three supercritical thermal power projects, each with a capacity of 2×800 MW. The projects will be located in Kawai, Rajasthan, and Mahan, Madhya Pradesh.
BHEL’s role includes supplying equipment and…
Andela, a startup once valued at $1.5 billion, has appointed Carrol Chang as its new Chief Executive Officer. Chang, who previously led Uber’s global driver operations, steps into the role as Andela seeks to rejuvenate its growth trajectory following a challenging period.
Founded by Jeremy Johnson and a group of Africa-based entrepreneurs, Andela initially emerged as a talent accelerator…
Nazara Technologies Limited, a prominent Indian gaming company, is advancing its international expansion strategy with two major announcements this month. On August 21, 2024, the company revealed plans to invest up to £21.2 million (about ₹229.4 crore) in its UK subsidiary to fund the acquisition of Fusebox Games Ltd.
The investment will be split into a share subscription of £4,236,246…
Melissa Tavss, founder and CEO of Tipsy Scoop, transformed a fun side project into a multimillion-dollar enterprise. After feeling burnt out from her corporate job in marketing and PR, Tavss decided to pursue a new path by reviving a family tradition of ice cream-making.
Tavss, who had been working in the wine and spirits industry, began developing recipes for boozy ice cream while attending…
Paytm is set to complete its Rs 100 crore investment plan in GIFT City, Gujarat, within the next six months. The development center will focus on creating a suite of financial products and services, contributing to job creation and advancing AI-driven cross-border remittance and payments technologies.
One97 Communications Limited (OCL), Paytm’s parent company, announced that it is in the process…
Peloton Interactive’s upcoming earnings report will draw attention to the company’s ongoing CEO search and its strategies to boost subscriber growth for fiscal 2025. Scheduled for release on Thursday, the report will provide insights into how the fitness equipment maker plans to navigate its recovery from a post-pandemic sales slump.
Peloton has faced significant challenges since the surge in…
Visit Health, a prominent healthtech platform, has successfully secured over ₹250 crore through a combination of primary capital infusion and secondary share purchases. The funds were raised from Docprime Technologies, a subsidiary of PB Fintech, along with contributions from other promoters and employees.
This significant capital injection will drive Visit Health’s growth strategy focusing on…
Unimech Aerospace and Manufacturing Ltd, based in Bengaluru, has submitted draft papers to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) valued at ₹500 crore. The IPO will consist of a fresh equity share issue of ₹250 crore and an offer for sale (OFS) of up to ₹250 crore by the promoter and the promoter group, as outlined in the draft red herring…
MobiKwik, the digital financial services platform, has marked a significant achievement by reporting its first-ever full-year profitability for FY24 after 15 years of operating at a loss. The company announced a Profit After Tax (PAT) of ₹14.08 crore, a substantial turnaround from the ₹83.81 crore loss in FY23. This milestone has boosted MobiKwik’s confidence as it prepares for its Initial…
Wells Fargo has agreed to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont, marking a significant shift in the commercial real estate landscape. This deal will elevate Trimont to become the largest servicer of commercial real estate securitized debt in the United States.
Trimont, established in 1988 and primarily serving non-bank and alternative lenders, will…
