Bank of Baroda, India’s second-largest public sector bank, is aiming to double the size of its balance sheet over the next five years as it looks to strengthen its domestic and international presence amid India’s rapid economic expansion. The bank’s Managing Director and CEO Debadatta Chand said scale and capital strength will become increasingly important as Indian lenders seek to compete with global banking giants. “If India wants globally competitive banks, scale and capital base are very important,” Chand said in an interview, adding that consolidation offers long-term advantages for the banking sector. The comments come at a time when…
Author: Adarsh Kumar
Global investment institution Lighthouse Canton has launched the LC Luminere Credit Fund, a SEBI-registered Category II Alternative Investment Fund (AIF), as it looks to capitalise on India’s rapidly expanding private credit market. The fund is targeting a total corpus of ₹1,200 crore (approximately $130 million), including a greenshoe option, and will focus on structured credit opportunities across mid-sized and large Indian companies. With a tenure of six years and an average investment cycle of nearly three years, the fund aims to generate stable cash yields along with attractive risk adjusted returns through senior secured lending strategies. The launch comes at…
LIC Housing Finance reported a 9% year-on-year increase in net profit to ₹1,497 crore for the fourth quarter ended March 2026, despite a decline in overall income during the period. The company had posted a net profit of ₹1,368 crore in the corresponding quarter of the previous fiscal year. According to its regulatory filing, total income declined to ₹7,195 crore in Q4 FY26 from ₹7,283 crore in the same quarter last year. Interest income also moderated to ₹7,009 crore during the quarter compared to ₹7,117 crore in Q4 FY25. However, the housing finance company managed to improve profitability through controlled…
Easy Trip Planners, which operates under the brand EaseMyTrip, has approved plans to raise up to ₹500 crore through a rights issue. In a regulatory filing on Wednesday, the company said its board of directors approved the issuance of equity shares on a rights basis for an amount not exceeding ₹500 crore. The company stated that fully paid-up equity shares with a face value of Re 1 each will be issued as part of the fundraising exercise. However, the final number of shares to be issued and the issue price will be determined later after the board finalises the terms…
Swiggy is working towards becoming an Indian Owned and Controlled Company (IOCC) as the food delivery and quick commerce major restructures its board and governance framework amid evolving foreign investment regulations. In a stock exchange filing, the company clarified that the proposed changes to its board nomination structure are part of a broader effort to qualify as an IOCC under FEMA regulations. The clarification came after institutional investors sought details regarding Swiggy’s recent postal ballot proposal and the rationale behind amendments to its Articles of Association. According to the company, the governance changes are intended to support its long-term objective…
Inflection Point Ventures (IPV) has reported 16 exits during FY26, delivering an aggregate internal rate of return (IRR) of 41% along with a 2.86x money multiple across the transactions. According to the company, the exits included both partial and full exits from startups such as Secret Alchemist, Aerem, Qubehealth, Kazam, Stage, Hudle, AFK Gaming, and GeoiQ. Among the exits, Secret Alchemist delivered the highest return with a 192% IRR and a 4.56x multiple, according to the firm. Other notable exits included: The company also highlighted strategic acquisitions during the year. AFK Gaming was acquired by NODWIN Gaming, while GeoiQ was…
Three former senior executives of Peak XV Partners Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma have reportedly launched a new venture capital firm called Mettle Capital. According to an ET report, the newly formed firm is targeting a fund size of around $350 million to $400 million to back Indian startups. The move follows the trio’s departure from Peak XV last month after serving in senior investment roles at the firm for more than a decade, including during its earlier identity as Sequoia Capital India. In a post on X, Sharma confirmed that the three former partners are joining hands…
Zoho Corporation has invested ₹70 crore in Open Network for Digital Commerce (ONDC) to support sovereign digital infrastructure development in India and improve technology access for MSMEs. The Chennai-based SaaS company said the investment aims to make digital commerce more inclusive and interoperable for small businesses across the country. “India’s economy depends heavily on MSMEs, yet they face challenges on all fronts, from limited market access to structural constraints imposed by conventional digital platforms,” said Sivaramakrishnan Iswaran, CEO of Zoho Payment Technologies and Global Head of Finance and Operations BU at Zoho. Backed by the Department for Promotion of Industry…
The Union Cabinet has approved a ₹37,500 crore incentive scheme to accelerate domestic coal gasification projects, a move aimed at strengthening India’s energy security and reducing dependence on imported fuels and chemicals. The scheme is designed to support India’s target of gasifying 100 million tonnes of coal by 2030 while promoting cleaner utilisation of the country’s vast coal reserves. According to the government, the initiative is expected to reduce imports of products such as LNG, ammonia, methanol, and urea by encouraging domestic production through coal gasification technologies. As part of the policy push, the government has also extended coal linkage…
Early investors in Groww sold around 4.7% stake in the company through bulk deals on Tuesday, with the total transaction value exceeding ₹5,352 crore. According to data from the National Stock Exchange of India (NSE), nearly 29.52 crore shares changed hands at an average price of ₹180.4 per share. The transaction involved several institutional investors, including Peak XV Partners, Ribbit Capital, YC Holdings, and other early backers. Among them, Ribbit Capital emerged as one of the key sellers in the transaction. However, Peak XV continues to remain one of the largest shareholders in Groww even after partially trimming its stake.…