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…
Author: Adarsh Kumar
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…
AI-powered cybersecurity startup Deep Algorithm has raised ₹16 crore in a pre-Series A funding round led by Unicorn India Ventures, with participation from SB Investment (UAE), Prakash Govindan, and Himanshu Singhal. The company plans to use the fresh capital to expand into international markets, accelerate product development, and strengthen its platform with advanced identity and AI-driven security capabilities. Founded in 2021, Deep Algorithm focuses on building enterprise cybersecurity solutions centered around identity risk management, fraud prevention, and threat detection. Its product suite includes adapID-AI, a behavioural identity intelligence platform, and BotShield-AI, which offers zero-day threat prevention, DDoS mitigation, and runtime…
PitchKaroIndia 2026 is positioning itself as a launchpad for India’s next generation of entrepreneurs, offering founders access to funding, mentorship, and strong investor networks through a nationwide startup platform. The initiative is designed to unlock India’s entrepreneurial potential by connecting early stage and growth stage startups with venture capital firms, industry experts, and global investors. A major highlight of the program is the opportunity to secure up to ₹1 crore in funding, supported by international investors including participants from Silicon Valley. PitchKaroIndia has been built with a focus on inclusivity, allowing student-led startups, first time founders, and scaling companies to…
Homegrown D2C coffee brand Sleepy Owl has raised ₹12 crore (around $1.3 million) in a fresh funding round from a mix of new and existing investors, including the Gauri Khan Family Trust, Optiscape Network Holdings, and Pramod Bhasin. This marks the company’s first fundraise in over 2.5 years, following its ₹15 crore round in October 2023 led by Rukam Capital and DSG Consumer Partners. Earlier, it had raised $6.5 million in Series A funding in 2021. The company’s board has approved the issuance of 37,944 Series C2 preference shares at ₹3,162.55 per share to complete the round. Optiscape Network Holdings…