In a move aimed at improving efficiency in offshore oil and gas operations, Oil and Natural Gas Corporation (ONGC) and Reliance Industries have signed a memorandum of understanding (MoU) to share offshore resources, including supply vessels used for exploration and production activities. The agreement was signed on the sidelines of India Energy Week (IEW), ONGC Director (Production) Pankaj Kumar said, adding that the collaboration is expected to speed up project execution and optimise capital deployment, particularly in offshore areas where the two companies operate in close proximity. Focus on Operational Efficiency The MoU seeks to enable joint utilisation of vessels,…
Author: Adarsh Kumar
Logistics and last-mile delivery firm Shadowfax Technologies made a subdued debut on Indian stock exchanges on Wednesday, with its shares listing at a discount of nearly 9% to the IPO issue price amid cautious investor sentiment. The company’s stock listed at around ₹112–113 on both the NSE and BSE, compared with the IPO’s upper price band of ₹124. Shadowfax had raised approximately ₹1,907 crore through its initial public offering, which was open for subscription between January 20 and January 22. IPO Subscription Snapshot The public issue saw moderate overall demand, led primarily by institutional investors. As per exchange data: The…
Automobile classifieds platform CarTrade reported a strong operating performance in the third quarter of FY26, with revenue growth and improved profitability driven by steady demand across its core segments and disciplined cost management. According to the company’s unaudited financial results filed with the National Stock Exchange (NSE), CarTrade’s revenue from operations rose 19% year-on-year to ₹210 crore in Q3 FY26, compared with ₹176 crore in the same quarter last year. Total income increased to ₹228 crore, up from ₹193 crore in Q3 FY25. Segment-Wise Performance CarTrade operates across three key verticals Consumer, Remarketing, and Classifieds. The diversified revenue mix helped…
Offline coaching firm Drishti IAS reported operating revenue of ₹364 crore in FY25, marking a 10% year-on-year decline from ₹405 crore in FY24, as the post Covid boom in offline coaching continued to normalise. According to the company’s audited financial results, EBITDA fell to ₹77 crore in FY25 from ₹127 crore a year earlier, while profit after tax (PAT) declined 32% to ₹61 crore, compared with ₹90 crore in FY24. Why Revenue and Profitability Declined Drishti IAS attributed the slowdown to a combination of Ind-AS accounting adjustments and a broader correction in the offline coaching market following unusually strong enrolments…
Precision oncology startup 4baseCare has raised ₹90 crore (around $9.8 million) in the first close of its Series B round, co-led by investors Ashish Kacholia and Lashit Sanghvi, with participation from existing backer Yali Capital. The funding comes after a two-year gap since the company’s $6 million Series A round in 2024, which was led by Yali Capital with participation from Infosys. Expansion and Product Roadmap 4baseCare said the fresh capital will be used to expand its hospital-linked genomics laboratory network across India, the Middle East, Southeast Asia, Latin America and Central Asia. The company will also invest in scaling…
Chennai-based deep-tech manufacturing startup Entellus Industries has raised ₹50 crore (around $5.5 million) in its second funding round, led by ZeroW, as it looks to scale up domestic production of critical rare earth materials. The latest capital infusion follows Entellus’ earlier $12 million fundraise from Social Capital, which was used to establish manufacturing facilities for neodymium praseodymium (NdPr) metal and bonded powder alloys. Use of Proceeds Entellus said the fresh funding will be deployed primarily towards capital expenditure, including: Following the expansion, the company expects to enable production capacity of around 2,000 tonnes of permanent magnets annually. Business and Technology…
Healthians founder Deepak Sahni has stepped down from the company after nearly a decade, marking the end of his formal executive role at the Gurugram-based health-tech startup. In a LinkedIn post, Sahni said he had transitioned from Founder and CEO to Executive Chairman in November 2023, and over the past year helped onboard and stabilise Healthians’ first fully professional management team. He added that he has now stepped away from all executive responsibilities and will continue only as a shareholder. “For me, Healthians has never been just a company. It has been a mission,” Sahni said, noting that the firm…
Early-stage venture capital firm Navam Capital has announced the final close of its maiden fund, Navam Venture Fund-I (NVF-I), at over ₹315 crore (around $35 million) after exercising its green shoe option. The fund was initially launched with a target corpus of ₹250 crore under the Category II Alternative Investment Fund (AIF) structure. With strong investor interest, Navam Capital upsized the fund at final close, the firm said in a statement. Investment Focus and Portfolio NVF-I is an India-focused fund targeting intellectual-property-led deep technology startups that are built in India but cater to global markets. The fund plans to invest…
Clean label food and nutrition startup The Whole Truth, backed by Peak XV Partners, reported strong topline growth in FY25, with operating revenue rising more than threefold, even as losses increased due to higher input and marketing expenses. According to financial statements for the year ended March 2025, The Whole Truth’s revenue from operations jumped 232% to ₹216 crore, compared with ₹65 crore in FY24. Including other income, total income stood at ₹220 crore, up from ₹71 crore a year earlier. Founded as a clean-label nutrition brand, the company sells products such as protein bars, peanut butter, dark chocolate, energy…
Legal-tech startup SpotDraft has raised $8 million from Qualcomm Ventures as part of a Series B extension, the company said. The latest infusion comes nearly a year after SpotDraft raised $54 million in its Series B round in February 2025, and follows a $26 million Series A raise in March 2023, underscoring sustained investor interest in its enterprise-focused contract management platform. Use of Funds SpotDraft said the fresh capital will be deployed to: Business and Technology Focus Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft offers an AI-powered contract lifecycle management (CLM) platform built for enterprise use cases where data…