Vodafone Idea has confirmed that its adjusted gross revenue (AGR) dues of around ₹87,695 crore have been frozen by the government, with the telecom operator set to pay a maximum of ₹124 crore annually over the next six years, beginning March 2025 and running till March 2031. In an exchange filing on Friday, the debt-laden telco said the relief follows communication from the Department of Telecommunications (DoT), under which payments related to AGR principal, interest and penalty for the period FY2007 to FY2019 have been put on hold. This comes days after Vodafone Idea had denied receiving any official communication…
Author: Adarsh Kumar
Direct-to-consumer mattress and sleep solutions startup The Sleep Company has appointed Hemal Jain as its chief financial officer, according to a LinkedIn announcement by the company. Jain brings over 20 years of experience spanning FMCG, food tech, quick commerce, B2B businesses and startup consulting. The company said he has worked closely with founders and senior leadership teams, led large finance functions, and supported companies in moving from high cash-burn phases to sustainable profitability. Before joining The Sleep Company, Jain was associated with Eternal, where he held a finance leadership role. Earlier, he served as global head of finance and CFO…
Bengaluru-based SaaS company Amagi Media Labs Ltd is set to create significant wealth for its investors as it heads to the public markets, with marquee backers staring at multi fold returns ahead of the IPO. According to its red herring prospectus, Amagi has fixed a price band of ₹343–₹361 per share for its ₹1,788.62 crore initial public offering. Analysis shows Premji Invest emerging as the biggest winner. PI Opportunity Fund, which invested about ₹114 crore at an average price of nearly ₹25.5 per share, is now sitting on a stake valued at over ₹1,610 crore at the upper end of…
Warner Bros Discovery has formally rejected Paramount Skydance’s revised $108.4 billion takeover proposal, calling it a high risk leveraged buyout and reaffirming its support for Netflix’s competing offer. In a letter to shareholders issued on Wednesday, Warner Bros’ board said the Paramount bid relies on an “extraordinary amount of debt financing,” which significantly increases execution and closing risks. The board unanimously advised investors to reject the offer and confirmed its continued backing of Netflix’s $82.7 billion deal for the studio and select assets. Paramount and Netflix have been locked in a high profile battle to acquire Warner Bros, whose portfolio…
India could face the threat of steep secondary sanctions from the United States, including punitive duties of up to 500%, after US President Donald Trump backed a bipartisan bill targeting countries that continue trade with Russia, particularly in oil and energy. American Senator Lindsey Graham said President Trump has “greenlit” the proposed legislation, part of the Sanctioning Russia Act of 2025, and is pushing for a strong bipartisan vote as early as next week. The bill seeks to penalise countries that purchase Russian origin oil, gas, and uranium by sharply raising import duties on their exports to the US. “If…
Engineering major Larsen & Toubro (L&T) has secured a supply order from the Indian Army’s Corps of Electronics and Mechanical Engineers (EME) for the overhaul, upgrade, and long term maintenance of the indigenous Pinaka Multi-Rocket Launcher Systems. The programme is aimed at supporting frontline artillery platforms currently deployed with the Army, focusing on modernisation and lifecycle-based maintenance. While the financial value of the order was not disclosed, the scope includes replacement of ageing components, upgrades to key sub-systems, and sustained technical support to ensure long-term operational readiness. Under the arrangement, the 510 Army Base Workshop (ABW) of the Corps of…
SoftBank’s recent moves in India indicate a strategic recalibration rather than a retreat, as the global investor balances exits from mature bets with a renewed focus on artificial intelligence and enterprise technology. Over the past year, SoftBank has executed partial and full exits from several Indian startups through founder buybacks, secondary transactions, and IPO-related stake sales. These include monetisation of holdings in companies such as InMobi, Lenskart, Ola Electric, Delhivery, and FirstCry. According to industry estimates, SoftBank has generated over $7 billion from India exits over the years, largely through public market sell-downs and strategic stake reductions. However, the firm…
Climate-tech firm Ecozen delivered a sharp improvement in financial performance in FY25, with revenue jumping 2.5X year-on-year and profit rising close to ₹100 crore, driven by strong demand for its solar-powered cold chain and irrigation solutions. According to its consolidated financial statements filed with the Registrar of Companies (RoC), Ecozen’s revenue from operations climbed to ₹1,150 crore in FY25 from ₹458 crore in FY24. The Pune-based company builds climate-smart solutions using motor controls, IoT, and energy storage technologies powered by solar energy. Its key products include Ecotron (solar pump controller), Ecofrost (solar cold storage), solar air conditioners, and solar panels.…
Bengaluru-based SaaS company Amagi Media Labs Ltd has filed its red herring prospectus (RHP) and fixed a price band of ₹343 to ₹361 per share for its upcoming initial public offering (IPO). The ₹1,788.62 crore public issue will open for subscription on January 13 and close on January 16, while the anchor book will open on January 12. The IPO has a lot size of 41 shares, translating to a minimum retail investment of nearly ₹14,800 at the upper end of the price band. The offering is a mix of a fresh issue and an offer for sale (OFS). Amagi…
The Enforcement Directorate (ED) has provisionally attached immovable assets worth approximately ₹400 crore in connection with its ongoing investigation into alleged fund misappropriation by Jaypee Infratech Limited (JIL), Jayprakash Associates Limited (JAL) and related entities. The attachment forms part of a money laundering probe linked to funds collected from thousands of homebuyers for the Jaypee Wishtown and Jaypee Greens real estate projects. According to the agency, the assets attached represent the current market value and include land parcels and other immovable properties associated with the Jaypee Group. The ED’s action follows allegations that homebuyer funds raised for specific housing projects…