The Indian government is considering legal action against Elon Musk-owned artificial intelligence chatbot Grok for alleged non-compliance with laws governing the generation of objectionable content involving women and children, a senior government official said. According to officials, the issue centres on Grok’s image generation capabilities, which were found to produce content that violates Indian legal standards. The government is currently seeking legal opinion on the appropriate course of action under existing information technology and content regulation frameworks. “We are taking legal opinion on how we should proceed with this. Our view is that, like many other accounts on X, the…
Author: Adarsh Kumar
India’s foreign exchange reserves declined sharply by $9.8 billion to $686.8 billion in the week ended January 2, marking the steepest weekly fall in more than a year, according to data released by the Reserve Bank of India (RBI). The sharp drop was primarily driven by a fall in foreign currency assets, which decreased by $7.6 billion to $552 billion during the week. Gold reserves also slipped by $2.1 billion amid a decline in global gold prices. Economists attributed the decline to active intervention by the central bank to manage volatility in the currency market, as well as valuation losses.…
Reliance Jio Platforms is evaluating plans for an initial public offering in 2026 that could see the company float around 2.5% of its equity, according to people familiar with the matter. If executed, the listing could become India’s largest-ever IPO, potentially raising over $4 billion. Jio Platforms, led by Mukesh Ambani, is the parent company of Reliance Jio, India’s largest telecom operator with a user base exceeding 500 million. The IPO is among the most anticipated public listings in the Indian market. In November, global investment bank Jefferies pegged Jio Platforms’ valuation at around $180 billion. At that level, a…
The central government is likely to open a new round of bidding to onboard around 12,000–15,000 advanced graphic processing units (GPUs) from Nvidia under the IndiaAI Mission, according to sources. The upcoming bidding round will focus on Nvidia’s latest B100 and B200 GPUs, which are based on the company’s cutting-edge Blackwell architecture. A senior government official said a fresh tender is required to discover new L1 prices for these next-generation GPUs. “The GPUs that were bid for in the first round will continue to be onboarded under the IndiaAI Mission at the L1 prices already discovered. However, a separate bidding…
Hyderabad-based dairy brand Sid’s Farm reported strong topline growth in FY25, but rising operating costs pushed the company deeper into losses during the year. Sid’s Farm’s operating revenue grew 38% year-on-year to ₹168 crore in the fiscal year ended March 2025, up from ₹122 crore in FY24, according to financial statements sourced from the Registrar of Companies (RoC). Including other income of ₹2 crore, the company’s total income stood at ₹170 crore in FY25. Founded in 2016, Sid’s Farm operates as a mass-premium dairy brand and follows a fully integrated model, sourcing milk directly from farmers and controlling the entire…
SoftBank has pared its holding in Ola Electric Mobility Ltd by selling a 2.15% stake through open-market transactions, according to regulatory filings with stock exchanges. The stake sale was executed by SVF II Ostrich (DE) LLC, a SoftBank investment vehicle, which offloaded nearly 9.5 crore equity shares between September 3, 2025, and January 5, 2026. The cumulative sale crossed the 2% disclosure threshold under takeover regulations, triggering mandatory reporting. Before the divestment, SVF II Ostrich held 69.16 crore shares, representing a 15.68% stake in Ola Electric. Following the transactions, its shareholding has declined to about 59.7 crore shares, reducing its…
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…
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…