As telecom companies roll out new plans to counter Reliance Jio’s aggressive tariffs, analysts are wary due to the strain on the sector’s financials. Credit Suisse, citing Bharti Airtel ’s counter offers, felt that it may put pressure on company's average revenue per user (ARPU), revenues, margins and capex further. A media report on Monday also informed of the company’s plans…
The Sensex slumped over 80 points to 28,813 on Monday as the March derivatives series began on a subdued note, mirroring a weak trend in the Asian market. Profit-booking at prevailing levels weighed. The 30-share Sensex fell 80.09 points, or 0.27%, to 28,812.88. The gauge gained 737.41 points in the previous six sessions. FMCG, auto, bank, power and metal stocks…
Blockchain IoT startup Filament has raised nearly $9.5m in new funding, according to a filing submitted to the SEC late last year. The documents indicate that the Nevada-based company has raised $9,477,226 so far – a move that comes less than two years after finalizing a $5m Series A round with backing from groups like Bullpen Capital, Verizon Ventures and…
The UK has strengthened its position as the single largest G20 investor in India, supporting close to 800,000 jobs, according to a new report. Between 2000 and 2016, the UK invested some $24.1 billion (£19.4bn) in India – increasing its investment by almost $1.9bn between 2015 and last year – representing 8 per cent of all foreign direct business investment…
New York: International Finance Corp. (IFC), the private-sector lending arm of the World Bank, on Monday said it will provide debt of $47.5 million (Rs318 crore) to drug maker Granules India Ltd to help finance its investment plans. Granules India is building a bulk drug manufacturing facility in Vishakhapatnam, expanding its existing capacities and investing in research and development to…
SAIF Partners has sold its entire remaining stake in MakeMyTrip, concluding a series of transactions that are estimated to have fetched it the largest cash exit in India's venture capital industry. The investment firm has since October shed its balance 11% holding in India's largest online travel agency as the Nasdaq-listed company's stock price surged by over 50% following its…
Nearly 65 per cent of startup executives and founders believe that the Indian startups are in a technology bubble, while 18 per cent feel that the bubble was close to bursting soon, a study by venture debt and specialty lending business, InnoVen Capital, said. The India Startup Outlook Report 2017 highlights the perspective with responses from over 170 startup leaders…
Leading venture debt and specialty lending business InnoVen Capital in its India Startup Outlook Report 2017 highlights the perspective of founders and CXOs of Indian startups with respect to fundraise and investor sentiment, business focus and challenges, and on policy and government initiatives amongst others. The survey by InnoVen captures responses from over 170 startup leaders across bootstrapped as well…
Bengaluru-based food startup 48East, which delivers fine Asian gourmet food, today said it has raised $5,00,000 in Pre Series A funding from Al Dhaheri family based in UAE. The investment will be used towards unit expansion, enhancing logistics, ramping up technology and marketing, the company said in a release here. Founded in August 2016 by Joseph Cherian and Nabhojit Ghosh,…
The Securities Exchange Board of India (Sebi) is forming an advisory committee on financial technology or fintech-related issues, which would look at safeguards that can be put in place to facilitate Crowdfunding of ‘genuine’ ventures and mobilise more household savings into the financial markets using technology solutions. “With the economy doing well and a well-regulated market, the current numbers (for…