Bottomline: Ambit Finvest AUM, net profit surge; asset quality slips
Adar Poonawalla-backed Ambit Finvest managed to raise both its asset under management (AUM) and net profit in the financial year ended March 2024, but its book too was affected by the industrywide trend of deteriorating asset quality. To be sure, the deterioration in its asset quality of Ambit Finvest was ......
Sahyadri Farms raises $46 mn, adds new investors to cap table
Farmer led-Sahyadri Farms Post Harvest Care ushered in new foreign impact investors to its cap table as it raised Rs 390 crore (approximately $46 million) as part of its second round of funding. Europe-based private equity fund responsAbility and US-based PE fund GEF Capital Partners have invested Rs 390 crore in ......
Prorata Secures Undisclosed Strategic Investment from Hindustan Media Ventures Limited, Propelling India’s First Fractional Car Ownership Platform to New Heights
Prorata, a Bangalore-based start-up, has announced a strategic investment from Hindustan Media Ventures Limited (HMVL), further accelerating the growth of India’s first fractional car ownership platform. The funding underscores the company’s innovative approach to revolutionizing how Indians experience premium, luxury, and off-road vehicles. Revolutionizing Car Ownership in India Founded by visionary entrepreneur ......
Grapevine: OTPP, Omega Healthcare, Canara Robeco, Credila in news
A Canadian pension fund is in talks to buy a majority stake in a US-based healthcare BPO, while Canara Bank-backed mutual fund has received offers from over a dozen investment banks to handle the company's proposed IPO mandate, according to various media reports. Also in news, an IPO-bound lender is ......
The Second Episode of Crafting Bharat: Deep Tech with GalaxEye
India’s space sector can be broadly, though not exclusively, divided into two major domains: commercial and research. Over the past three years, India’s space-tech start-ups have attracted significant capital, with early-stage investments leading the charge. However, late-stage start-ups, the ones most likely to deliver tangible results, continue to face funding ......
Most Gulf central banks follow US Fed in cutting key interest rates
Most central banks of the Gulf Cooperation Council cut key interest rates on Wednesday, following the Federal Reserve's decision to reduce U.S. rates by a quarter of a percentage point. The Federal Reserve on Wednesday lowered the federal funds target rate range by 25 basis points (bps) to between 4.25% and ......
The Third Episode of Crafting Bharat: Deep Tech with Big Bang Boom Solutions
India’s defence sector is witnessing a transformation driven by cutting-edge startups developing technologies like long-endurance drones, robotic swarms, and advanced surveillance systems. As the nation focuses on self-reliance, this wave of innovation is reshaping defence capabilities amidst a turbulent global landscape. To celebrate these innovators, NewsReach has launched a special edition ......
Grapevine: Avendus Capital, Imperial Blue, KKR, OTPP, Akzo Nobel, InCred, and Enel Group in news
The sale process of Pernod Ricard’s Imperial Blue whiskey, Akzo Nobel India Ltd, Enel Group’s renewable energy assets in India and KKR’s stake in Avendus Capital has gathered momentum, according to various media reports. Also in news, KKR and OTPP are set to invest in Highways Infrastructure Trust and InCred ......
BP, ADNOC's XRG agree Egypt gas JV Arcius Energy
BP and Abu Dhabi National Oil Company's international investments arm XRG said on Monday they have closed a deal for a new natural gas joint venture in Egypt, as ADNOC expands its efforts to grow abroad. The joint venture, Arcius Energy, is 51% owned by BP and 49% owned by XRG. ......