SAIF, Elevation Capital Entities Offload Shares in Fintech Major Fintech company Paytm witnessed block deals worth nearly ₹964 crore (around $100 million) on Friday, as entities affiliated with Elevation Capital and legacy SAIF Partners funds sold portions of their holdings. According to BSE data, around 85.98 lakh shares changed hands at ₹1,120.65 apiece, taking the total transaction value to approximately ₹963.6 crore. Institutional Investors Participate in Large Transactions Among the sellers, SAIF III Mauritius Company Limited offloaded 56.22 lakh shares, while SAIF Partners India IV Limited sold 23.86 lakh shares. Elevation Capital V Limited also divested 5.89 lakh shares. On…
Author: Aman Atulya
OpenAI is ramping up efforts to attract Indian developers to its AI coding platform Codex, as competition in the AI developer tools market intensifies globally. According to reports, OpenAI executives and developer teams have been spending more time in India to better understand the local ecosystem and tailor products for the country’s fast-growing developer community. India Emerges as Strategic Market for AI Coding Tools India, with nearly 27 million developers and rapidly rising AI adoption, has become a critical market for OpenAI’s enterprise and developer-focused expansion strategy. The company has been actively organising hackathons, developer meetups, and community engagement initiatives…
The Central Board of the Reserve Bank of India has approved a record surplus transfer of ₹2.87 lakh crore to the central government for FY27, supported by a sharp increase in income and expansion of the RBI’s balance sheet. The decision was taken during the 623rd meeting of the RBI Central Board in Mumbai under the chairmanship of Governor Sanjay Malhotra. The Board also reviewed domestic and global economic conditions along with key risks to the outlook. RBI Income and Balance Sheet See Strong Growth The RBI reported a 26.42% year-on-year rise in gross income during FY26, while expenditure before…
Food delivery and quick commerce platform Swiggy has failed to secure the required shareholder approval to amend its Articles of Association (AoA) in order to qualify as an Indian-owned and controlled entity, according to reports. The proposal required a higher threshold of shareholder consent but did not receive the necessary backing during the voting process. Strategic Importance Linked to Regulatory and Business Expansion The move was considered strategically important for Swiggy as Indian ownership status could provide greater operational flexibility in sectors with foreign investment restrictions, particularly areas linked to inventory-led ecommerce and related business structures. The proposed AoA amendments…
Global investment giant Capital Group has reportedly built stakes worth more than $2 billion across multiple Adani Group companies, signalling a notable shift in foreign investor preference from Reliance Industries toward the Adani ecosystem. According to reports, the Los Angeles-based asset manager has been steadily increasing its exposure to Adani firms while trimming holdings in Reliance Industries in recent months. Major Stakes Acquired in Adani Ports, Power, and Green Energy Capital Group recently acquired nearly a 2% stake in Adani Ports and Special Economic Zone through open-market transactions valued at around ₹7,486 crore ($776 million), based on BSE block deal…
AJIO, the fashion commerce platform owned by Reliance Retail, has appointed former Coupang Taiwan country head Sandeep Karwa to a leadership role, according to sources familiar with the matter. Karwa is expected to take over as CEO of AJIO, while current CEO Vineeth Nair is likely to transition into a broader strategic role within Reliance Retail’s fashion and lifestyle business. Leadership Transition Signals Broader Fashion Strategy Sources indicate that Nair may take on expanded responsibilities across the fashion vertical, potentially including oversight related to Reliance Brands. While Karwa will lead AJIO’s operations, Nair is expected to remain involved at a…
Conversational fintech platform jUMPP has received regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance products through its platform. The approval marks jUMPP’s entry into the insurance segment as the company expands its broader financial services ecosystem beyond investments and payments. Building an Integrated Financial Ecosystem With insurance now part of its roadmap, jUMPP plans to gradually evolve into a unified platform spanning wealth creation, protection, lending, and banking services. Launched in 2025 by Sarvjeet Singh Virk, the AI-driven platform enables users to manage banking, savings, payments, investments, and borrowing through a single conversational…
Less than two months after the acquisition of Solethreads, its co-founder and CEO Sumant Kakaria has joined private equity firm Famy Aspire Capital as a Partner. Kakaria announced the move through a LinkedIn post, describing his entrepreneurial journey as “blessed” while expressing excitement about building the next phase of his career in investing. Consumer-Focused Investment Strategy Gains Momentum Famy Aspire Capital is a strategic private equity fund focused on consumer and healthcare sectors. Backed by the Taparia family, the firm plans to invest in high-growth consumer ventures and support emerging brands through what Kakaria described as an “operator-investor DNA.” In…
Cross-border payments platform Skydo has received in-principle approval to operate as a Payment Service Provider (PSP) at GIFT City IFSC, becoming one of the first cross-border fintech firms to secure a GIFT City licence. The approval gives Skydo access to a globally aligned financial ecosystem designed for international financial services, enabling the company to build infrastructure and products tailored for businesses operating across borders. Expanding Multi-Currency and Global Payment Infrastructure The licence will allow Skydo to expand capabilities such as multi-currency collections, e-money accounts, merchant acquisition, and new international payment corridors for Indian businesses. The company has also received regulatory…
Food and beverage major PepsiCo plans to invest ₹5,700 crore in India by 2030 to expand manufacturing capacity and strengthen its long-term presence in one of its fastest-growing markets. The investment will largely focus on scaling the company’s foods business through a mix of greenfield and brownfield projects. According to PepsiCo India and South Asia CEO Jagrut Kotecha, the company sees significant growth potential in India driven by rising consumption and improving market conditions. India is currently among PepsiCo’s top 13 global markets. New Facilities Planned in MP, Assam, and Tamil Nadu The investment will primarily support manufacturing facilities in…