Muthoot Fincorp has announced plans to raise up to ₹4,000 crore through an initial public offering (IPO), marking a major step in the company’s expansion strategy. According to the company, the proposed IPO will consist of a fresh issue of equity shares with a face value of ₹10 each. The proceeds from the public issue are expected to support future growth initiatives and business expansion. The company stated that the IPO remains subject to shareholder approval, regulatory clearances, market conditions, and other required approvals. It has not yet disclosed a timeline for the listing. Alongside the IPO approval, Muthoot Fincorp’s…
Author: Adarsh Kumar
Global investment firm Bain Capital has announced the final close of its Asia Fund VI at $10.5 billion, significantly exceeding its original fundraising target of $7 billion. The fund includes approximately $9.1 billion in external commitments, while the remaining capital was contributed by Bain Capital partners, employees, and affiliated entities, making them the single largest investor group in the fund. According to Bain Capital, the new fund strengthens its ability to pursue large-scale investment opportunities across Asia, focusing on long-term growth, operational transformation, and value creation. The firm has built an extensive investment platform across key Asian markets including India,…
Mumbai-based trading platform Trackk has raised ₹30 crore (around $3.16 million) in an extended seed funding round led by Lightspeed India, with participation from Info Edge Ventures. The funding comes nearly nine months after the startup secured $1 million in seed capital from investors including Mga Ventures, GSF Ventures, and GNP Group. According to regulatory filings accessed by Entrackr, Trackk’s board approved the issuance of 1,23,630 compulsory convertible preference shares (CCPS) at an issue price of ₹2,429 each to raise the fresh capital. Lightspeed India led the round with an investment of ₹23.66 crore, while Info Edge Ventures invested ₹6.37…
Paytm has launched ‘Pocket Money’, a new feature that enables teenagers to make UPI payments without requiring their own bank accounts, marking a significant expansion of supervised digital payments in India. Built on the National Payments Corporation of India’s UPI Circle framework, the feature allows parents and guardians to delegate controlled spending access to teenagers directly through the Paytm app while retaining complete oversight of transactions and limits. The feature is designed for everyday use cases including school and college canteens, metro travel, cab bookings, mobile recharges, and online shopping. Teenagers can make payments independently from their own smartphones without…
State-owned power company NHPC reported a strong financial performance for the March quarter of FY26, with consolidated net profit rising over 68% year-on-year to ₹1,549.42 crore. The company had posted a profit of ₹919.63 crore in the corresponding quarter last year, according to its stock exchange filing. NHPC’s total income for the quarter also increased significantly to ₹3,120.52 crore, compared to ₹2,557.71 crore in Q4 FY25, driven by improved operational performance and higher revenue generation. For the full financial year FY26, the company reported a consolidated net profit of ₹4,220.46 crore, up from ₹3,411.73 crore in the previous fiscal year.…
Tata Consultancy Services CEO and Managing Director K Krithivasan received a 6% increase in remuneration for FY26, taking his total annual compensation to ₹28.1 crore, according to the company’s latest annual report. Krithivasan’s pay package stood at ₹26.5 crore in the previous fiscal year. The revised compensation includes: His pay ratio compared to the median employee remuneration stood at 332.8 times. The compensation hike broadly aligns with wage increases rolled out by TCS across employee levels during the year. Junior and mid-level employees in India received annual increments ranging between 4.5% and 7%, while top performers secured double-digit hikes. Overseas…
Starbucks is planning to open its first corporate office in India focused on technology operations, as the global coffee giant accelerates efforts to streamline operations and reduce costs. According to an internal message seen by Bloomberg, the new technology hub is expected to launch in the company’s fiscal year 2027, which begins in October 2026. Starbucks is currently evaluating locations in India and plans to begin hiring once the site is finalized later this year. The India office will play a key role in Starbucks’ broader strategy to bring technology functions back in-house. The company had previously outsourced several tech…
TiE Delhi-NCR concluded the 15th edition of India Innovation Day (iDay) 2026 in Gurugram, bringing together over 1,200 founders, investors, policymakers, corporate leaders, and technologists to discuss the future of India’s innovation-led economy. Held under the theme “Audacity of Now”, the event focused on India’s shift from an internet first ecosystem to an innovation-first economy powered by AI, deep-tech, biotech, space technology, quantum computing, and Bharat-focused startups. Previously known as India Internet Day, iDay 2026 featured discussions around indigenous AI infrastructure, AI-native businesses, language models, sovereign technology capabilities, healthcare innovation, and public private collaboration. A major highlight of the event…
India is preparing a major leap in semiconductor manufacturing, with the government planning to nearly double financial support for the sector to around $20 billion under the revamped India Semiconductor Mission. The proposed expansion could place India among the world’s most aggressive semiconductor investment destinations, potentially rivaling countries like South Korea, Japan, and Singapore in chip manufacturing incentives. The government has already deployed most of the original $10 billion allocation under the first phase of the semiconductor mission, which covers up to 50% of plant setup costs. The scheme has backed 14 projects, including semiconductor fabs, OSAT and ATMP facilities,…
Healthcare data platform Innovaccer has carried out a fresh round of layoffs impacting 340 employees globally as the company accelerates its transition toward becoming an AI-native organisation. The development surfaced through an internal email from founder and CEO Abhinav Shashank that began circulating on social media platforms, including Reddit. In the email, Shashank described the layoffs as part of a broader organisational restructuring driven by AI adoption and automation. The company later confirmed the move, stating that the restructuring is aimed at building a leaner and faster operating structure focused on measurable outcomes. “As part of a global organisational change,…