Fintech firm Pine Labs has acquired a 100% stake in Shopflo Technologies, a D2C checkout platform, in a deal valued at up to ₹88 crore, according to regulatory filings. The acquisition, which will be completed within three months, is structured as an all cash transaction. Founded in 2021, Shopflo provides checkout infrastructure and ecommerce enablement tools designed to improve conversion rates for online brands. The company reported ₹14.7 crore revenue in FY25, up from ₹9.1 crore in FY24 and ₹0.63 crore in FY23, reflecting rapid growth. Pine Labs said the acquisition aligns with its strategy to build a full stack…
Author: Adarsh Kumar
Japan based Sumitomo Mitsui Financial Group (SMFG) has infused ₹1,075 crore into its Indian NBFC arm, SMFG India Credit (SMICC), through a rights issue, reinforcing its long-term commitment to the Indian market. The capital infusion is aimed at strengthening the company’s balance sheet and supporting its next phase of growth, as the NBFC focuses on expanding its operations and improving efficiency. According to Ravi Narayanan, the investment will help accelerate digital transformation initiatives, enhance customer experience, and reinforce risk management and governance frameworks. SMFG India Credit has been witnessing steady growth across its business segments. As of December 31, 2025,…
Non-banking financial company Mahindra and Mahindra Financial Services reported a more than twofold rise in consolidated net profit to ₹940 crore in Q4 FY26, compared to ₹456 crore in the same quarter last year. On a standalone basis, the company’s profit after tax (PAT) grew 55% to ₹873 crore, reflecting strong operational performance. According to Managing Director and CEO Raul Rebello, the growth was driven by improved operating metrics, including controlled funding costs, which expanded the net interest margin (NIM) by 1% to 7.5%, along with 12% asset growth, a doubling of fee income, and tighter control over operating and…
The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank Limited, effective from the close of business on April 24, 2026, marking a major regulatory action in India’s fintech sector. The decision has been taken under Section 22(4) of the Banking Regulation Act, 1949, following which the bank is prohibited from carrying out banking operations or related activities with immediate effect. The RBI stated that it will approach the High Court for the winding up of the bank. It also clarified that the entity currently has adequate liquidity to repay all depositors during the wind-up…
SBI Funds Management, India’s largest asset manager, is expected to begin formal marketing for its $1.5 billion IPO as early as next week, according to sources familiar with the matter. The company plans to allocate around 75% of the issue to domestic investors, while also exploring a pre-IPO placement of up to $350 million, as part of its fundraising strategy. SBI Funds is reportedly targeting a valuation of $13–15 billion, positioning it among the most valuable asset management firms in India. This compares with ICICI Prudential Asset Management, which currently has a market capitalisation of about $17.6 billion following its…
JSW Steel and Japan’s JFE Steel Corporation have announced a 50:50 joint venture to expand the Bhushan Power and Steel Ltd (BPSL) facility in Sambalpur, Odisha, with an estimated investment of ₹32,000 crore. The project involves a 6 million tonnes per annum (mtpa) brownfield expansion, significantly boosting the production capacity of the Odisha unit and strengthening JSW Steel’s footprint in eastern India. The companies also unveiled the new entity JSW Steel JFE Steel Limited, which will house the integrated steel operations of BPSL. As part of the agreement, JFE Steel will hold a 50% stake, translating to an investment of…
Adani Green Energy reported a 34% jump in consolidated profit for Q4 FY26, driven by higher power sales and increased capacity utilisation. The company posted a net profit of ₹3,420 crore for the quarter ended March 31, compared to ₹383 crore in the same period last year, reflecting strong operational performance. Revenue from its core power supply business grew 16% to ₹3,094 crore, while energy sales surged 34%, supported by rising demand and improved generation capacity. At the operating level, EBITDA from the power supply segment increased 20% to ₹2,944 crore, with margins remaining stable at 91%, indicating high efficiency…
Hindustan Zinc Limited reported its highest ever quarterly profit and revenue in Q4 FY26, driven by strong zinc and silver prices, record production levels, and lower costs. The company’s consolidated net profit surged 68% year-on-year to ₹5,033 crore, compared to ₹3,003 crore in the same quarter last year. Revenue from operations also saw significant growth, rising 49% to ₹13,544 crore, marking an all-time high for the company. On the profitability front, EBITDA increased 61% to ₹7,747 crore, while the EBITDA margin expanded to 57%, up from 53% in Q4 FY25, reflecting improved operational efficiency. The strong performance was supported by…
AI-based brand analytics platform GobbleCube has seen its co-founders’ stake diluted by over 70% following its recent $15 million Series A funding round led by Susquehanna Venture Capital, with participation from existing investors Info Edge Ventures and Kae Capital. According to regulatory filings, the company issued 37,735 Series A preference shares at an issue price of ₹35,776 each, raising approximately ₹135 crore ($15 million). Susquehanna led the round with an investment of ₹81 crore, while Info Edge Ventures and Kae Capital infused ₹31.5 crore and ₹22.5 crore, respectively, increasing their ownership in the company. Post funding, GobbleCube’s valuation has surged…
Omnichannel jewellery retailer BlueStone reported a strong 48% year-on-year growth in revenue to ₹681 crore in Q4 FY26, while posting a net profit of ₹31 crore, according to its filings. The company had recorded ₹461 crore revenue in Q4 FY25, highlighting robust demand across its jewellery portfolio. For the full financial year ended March 2026, BlueStone reported a 38% increase in revenue to ₹2,436 crore, up from ₹1,770 crore in FY25. Notably, the company turned profitable for the year, reporting a net profit of ₹13 crore, compared to a loss of ₹222 crore in the previous fiscal. BlueStone derives its…