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Reliance JIO users face mobile internet and Jio fiber problems, share memes on X
Reliance Jio, one of India’s leading telecom companies, recently had a massive outage, preventing consumers across the country from accessing critical applications and services. With widespread...
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Rohit Sharma invests in homegrown edu-fintech firm LEO1
Mumbai, June 19th, 2024: LEO1, a premier Edu-fintech business (previously known as Financepeer), has announced a large investment by Indian cricket captain Rohit Sharma. Sharma’s first foray into...
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One97 Communication’s shareholders, Goldman Sachs, Odi sell 0.69% stake for...
In a momentous move that has sparked market speculation, two major institutional shareholders have opted to sell off portions of their holdings in One 97 Communications Ltd., Paytm’s parent company....
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Reports suggest Vodafone to sell 17.98% shares, telecom stocks plunge by 7%
Shares of Indus Towers Ltd., a well-known provider of telecommunications infrastructure in India, have dropped precipitously in response to allegations that Vodafone plans to sell a sizable portion of...
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SoftBank backed Ola Electric gets SEBI green flag for Rs 5,500 Cr IPO
The Securities and Exchange Board of India (SEBI) has given Ola Electric, the nation’s biggest producer of electric two-wheelers, permission to launch its initial public offering (IPO). This historic...
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Emcure Pharma receives SEBI nod for IPO of Rs 800 Cr equity sale and OFS of...
The Securities and Exchange Board of India (SEBI) has given the go-ahead for Emcure Pharmaceuticals, a well-known pharmaceutical firm with headquarters in Pune, to begin its eagerly awaited Initial...
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Binance found operating without anti-money laundering law compliance, fined...
Significantly, the largest cryptocurrency exchange in the world, Binance, was fined Rs 18.8 crore by India’s Financial Intelligence Unit (FIU) for breaking anti-money laundering (AML) laws. This fine...
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Zepto raises $665 Mn at a valuation of $3.6 Bn ahead of major IPO
A noteworthy advancement for the fast commerce industry, Zepto, a Mumbai-based firm, has raised $665 million (about Rs 5,560 crore) in new capital. The company is now valued at $3.6 billion thanks to...
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Mumbai based luggage brand EUME raises $1.7 Mn funding in pre-Series A round
Mumbai-based Direct-to-Consumer (D2C) baggage producer EUME raised INR 15 crore ($1.7 million) in a Pre-Series A fundraising round. Leading investor Ashish Kacholia led the investment round,...
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British Independent Retailers Association files $1.3 Bn lawsuit against...
Amazon is the target of a historic lawsuit brought by the British Independent Retailers Association (BIRA), which claims that the online retailer has been manipulating its “Buy Box” feature and...
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Fit & Flex from Shark Tank India S3 sues Sony after accusations of trademark...
In a surprising turn of events, FMCG startup Fit & Flex has found itself embroiled in a legal battle with Sony Network over the suspension of its social media accounts. This incident marks the...
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Bengaluru-based B2B startup ReshaMandi cuts 80% workforce after being unable...
ReshaMandi, a well-known B2B marketplace for silk reelers and sericulture producers, had to fire 80% of its employees due to a severe financial crisis. The company, which had presented a bright future...
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Byju’s challenges NCLT directions on second rights issue in Karnataka HC
Leading EdTech business Byju’s has filed a case with the Karnataka High Court to challenge a ruling made by the National Company Law Tribunal (NCLT). The ruling issued by the tribunal, preventing...
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Swiggy’s operating losses in CY23 down by 55% to $261 Mn
One of the top meal delivery services in India, Swiggy, has made great progress toward cutting its operational losses by over 55% by 2023. Swiggy’s main shareholder, Prosus, has disclosed this...
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Prosus writes off entire 9.6% stake worth $500 Mn in Byju’s
In a stunning turn of events, the once-high-flying Bengaluru-based edtech startup BYJU’S has had its entire investment written off by Netherlands-based Prosus. Prosus, which owns a 9.6% share in...
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Report suggests X CEO Linda Yaccarino fires her right hand man under pressure...
In a move signaling significant changes at social media platform X, CEO Linda Yaccarino has restructured her inner circle to address financial pressures and performance expectations set by owner Elon...
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Big win for Make in India as Google plans to manufacture drones in Tamil Nadu
Recently, Google representatives met with M.K. Stalin, the chief minister of Tamil Nadu, to explore the prospect of establishing a drone manufacturing facility in the state. This is an amazing...
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Bobby Jain’s $5.3 Bn fundraise marks largest hedge fund debut since 2018
After raising $5.3 billion for his new multistrategy hedge fund, Jain Global, Bobby Jain, the former co-chief investment officer of Millennium Management, has garnered media attention. Since...
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Report alleges Foxconn discriminates against married women in hiring process...
Foxconn’s practice of excluding married women from employment at its iPhone assembly plant in southern India, as detailed by a Reuters investigation, raises critical concerns about workplace equality...
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Week after its $665 Mn fundraise, Zepto plans to raise $400 Mn at $4.6 Bn...
As a sign of the quick commerce industry’s explosive development and promise, Zepto, one of the industry’s top players, is allegedly in talks to raise an extra $400 million in capital. This is...
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