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…
Real estate developer Kalpataru has announced plans to raise up to ₹1,590 crore through an initial public offering (IPO). The funds will primarily be used to repay existing loans, with the remainder allocated for general corporate purposes. This IPO will be a fresh issue of shares.
The Mumbai-based company has a robust portfolio, having completed 70 projects across major cities such as Mumbai…
Swan Energy Ltd., led by Nikhil Merchant, has announced its plan to sell its stake in a floating LNG receipt terminal to Turkey’s state-owned Botas Trading IC for $399 million. The deal involves the sale of assets from Swan’s subsidiary, Triumph Offshore Pvt Ltd (TOPL), and is expected to be finalized within six months, with the payment to be received in multiple tranches.
Triumph Offshore Pvt…
Former Google CEO Eric Schmidt Blames Remote Work for Company’s AI Setbacks
Eric Schmidt, who led Google from 2001 to 2011, has recently criticized the company’s emphasis on remote work for its current struggles in artificial intelligence (AI). During a recent talk at Stanford University, Schmidt suggested that Google’s focus on flexible work arrangements and work-life balance has allowed…
Schneider Electric, a leader in digital energy management, introduced eight new energy-efficient products at its Multi-city Innovation Day event in Mumbai. This series of showcases will continue in Delhi, Bengaluru, Ahmedabad, and Kolkata over the coming weeks, targeting over 2,000 customers, partners, and stakeholders.
Product Highlights:
MasterPacT MTZ Active Circuit Breaker: Features the…
Global index provider MSCI has announced significant changes to its India Index for August, adding seven stocks while removing one. The additions include Rail Vikas Nigam Limited (RVNL), Vodafone Idea, Dixon Technologies, Oil India, Prestige Estates, Oracle Financial Services, and Zydus Lifesciences. Bandhan Bank will be the sole stock removed from the index. Additionally, MSCI will be increasing…
Sachin Bansal’s fintech company, Navi, has experienced remarkable growth on the Unified Payments Interface (UPI) platform, nearly doubling its transaction volume in July. Data from the National Payments Corporation of India (NPCI) shows Navi processed 68.5 million transactions in July, a significant increase from 35.7 million in June and just 3 million in March, marking a 22-fold growth in four…
