SBI Mutual Fund has pared its stake in Nazara Technologies through a bulk deal, selling shares worth approximately ₹108 crore on Monday, according to exchange data. The mutual fund house offloaded 45,09,360 equity shares of the gaming and esports company at an average price of ₹240.18 per share. Prior to the transaction, SBI Mutual Fund held 2.14 crore shares, representing a 5.78% stake in Nazara. Following the sale, its shareholding has reduced to 1.69 crore shares, or 4.55% of the company’s paid-up equity capital. Despite the stake sale, Nazara has reported strong top-line growth in recent quarters. The company’s operating…
Author: Adarsh Kumar
The Defence Acquisition Council (DAC) on Monday approved defence procurement proposals worth approximately ₹79,000 crore, providing a significant boost to India’s military modernisation efforts across the Army, Navy, and Air Force. Announcing the decision, Union Defence Minister Rajnath Singh said the DAC accorded Acceptance of Necessity (AoN) for multiple proposals aimed at strengthening India’s defence preparedness. “The decisions taken today will help enhance the operational capabilities of the Armed Forces,” he said, adding that the ministry remains focused on equipping the forces with advanced and mission-critical systems. For the Indian Army, the DAC cleared the acquisition of loitering munitions for…
Rediff.com India has received final approval from the National Payments Corporation of India (NPCI) for its Third-Party Application Provider (TPAP) licence, enabling the company to roll out its digital payments platform, RediffPay. Following the approval, the company has initiated Closed User Group (CUG) testing, a mandatory step before full-scale entry into the Unified Payments Interface (UPI) ecosystem. With this, Rediff formally joins India’s rapidly expanding digital payments landscape. According to the company, RediffPay is being positioned as a financial-wellness-focused UPI app, combining standard UPI functionalities with tools designed to encourage saving, investing, and responsible access to credit. In addition to…
India’s primary market witnessed a record-breaking year in 2025, with 373 IPOs including 103 mainboard and 270 SME listings raising a total of ₹1.95 trillion, marking a 12 fold increase compared to earlier years, according to data analyzed by Pantomath. The surge reflects broader participation beyond mega listings, with mid-sized issuances driving growth. The ₹100–500 crore segment expanded at a 58% CAGR, while the ₹1,000–5,000 crore bracket grew at 68% CAGR between 2020 and 2025. Mega IPOs above ₹5,000 crore accounted for just 8–14% of total volume, highlighting the market’s diversification. Average mainboard IPO sizes increased from ₹1,100 crore in…
Mobile-first credit card startup OneCard (FPL Technologies) continued its growth trajectory in FY25, posting operating revenue of ₹1,878 crore, up 32% from ₹1,425.5 crore in FY24, according to filings with the Registrar of Companies (RoC). The company also reported a 26% reduction in losses, with net losses declining to ₹297.5 crore from ₹401 crore in the previous fiscal year. Founded in 2019, OneCard offers co-branded credit cards targeting firsttime users through partnerships with IDFC First Bank, Federal Bank, and SBM Bank. Its services also include OneScore, an app for credit score tracking and management, which contributed to the company’s revenue…
India’s wealthtech ecosystem witnessed a significant surge in funding over 2024 and 2025, with startups raising $634 million across 51 deals involving 39 firms, reflecting strong investor interest and growing consumer adoption of digital wealth management solutions. Once largely catering to high-net-worth individuals, wealthtech is now increasingly targeting the middle class, driven by rising incomes, digital adoption, and improving financial literacy. Startups such as Neo, Smallcase, Dezerv, Syfe, and Groww emerged as the top beneficiaries, collectively raising $374 million, nearly 59% of the total funding during the period. Mumbai-based Neo led the pack with $112 million across four rounds, followed…
OpenAI has announced a new senior leadership position focused on managing the risks posed by rapidly advancing artificial intelligence, with compensation exceeding $500,000 per year, reflecting the growing urgency around AI safety and governance. OpenAI founder and CEO Sam Altman said the company is hiring a Head of Preparedness, a role aimed at identifying, assessing and mitigating emerging threats linked to increasingly powerful AI systems. Altman described the position as both critical and demanding, warning that the successful candidate will face intense pressure from day one. “This will be a stressful job, and you’ll jump into the deep end pretty…
Mangaluru is rapidly emerging as a cost-efficient and strategically positioned data centre hub in India, backed by strong infrastructure, competitive operating economics, and a growing technology ecosystem, according to the Mangaluru Data Centre Feasibility Study 2025. The study was conducted by the Karnataka Digital Economy Mission (KDEM) in collaboration with the Silicon Beach Program and Deloitte India, and evaluates Mangaluru’s potential role in supporting India’s expanding digital infrastructure needs across cloud computing, artificial intelligence, and mission-critical workloads. With India’s total data centre capacity projected to reach 10–12 GW by 2030, the report positions Mangaluru as a strategic “spoke” within a…
Indian startups continued to attract investor interest, raising over $155 million across seven funding deals between December 22 and December 27, 2025, despite a relatively shorter holiday-impacted week. The funding activity spanned multiple high-growth sectors, including wealthtech, healthcare, electric vehicles (EV), aerospace, pharmaceuticals, defence technology, and lending, reflecting sustained confidence in India’s innovation ecosystem. While the overall fundraising volume moderated compared to the previous week, the diversity of sectors underscores the broad-based nature of venture capital deployment. Last week, Indian startups had raised over $358 million, making the latest tally a sequential decline but still a strong showing amid year-end…
Omnichannel home interiors and renovation platform Livspace has acquired a majority stake in Mumbai-based LED lighting solutions company Abby Lighting in a cash-and-stock transaction valued at approximately ₹204 crore, according to regulatory filings reviewed by Entrackr. As per filings with the Registrar of Companies (RoC), the transaction includes ₹173 crore in cash and ₹31 crore through a share swap. Under the share swap arrangement, Abby Lighting co-founders Sanjay Bajaj and Suresh Bajaj will receive 4,11,274 equity shares of Livspace, amounting to about 0.31 per cent stake in the company. Confirming the development, a Livspace spokesperson said the acquisition is a…