Articles for tag: Arrests, Ashneer, BharatPe, Disputes, Fund, Grover, Legal, Misappropriation, Related, settled, severing, Significant, Ties

September 30, 2024

Ashneer Grover and BharatPe settled legal disputes, following arrests related to significant fund misappropriation, severing all ties.

BharatPe’s former co-founder Ashneer Grover and the company have settled a long-standing legal dispute following recent arrests linked to financial misappropriation at the fintech firm. As part of the settlement, Grover will no longer have any involvement with BharatPe and will transfer certain shares to the Resilient Growth Trust. Previously, allegations arose when co-founder Bhavik ...

September 29, 2024

Market News

Business

Compass Group India aims to capture significant market share, planning to double its business in food services over the next three years.

Compass Group India is rapidly expanding its food service business in India, aiming to double its operations every three years. The company, recently acquiring ICS Foods, is focusing on sectors like manufacturing, education, and healthcare. With a goal to serve over two million meals daily and grow its presence to 600 client locations by 2027, ...

September 25, 2024

Market News

Business

Nishant Pitti sells 14% stake in Easy Trip Planners, triggering a 15% share price drop amid significant market turbulence.

Nishant Pitti, a co-founder of Easy Trip Planners, has sold a 14 percent stake in the company for Rs 920 crore through open Market transactions. The sale involved approximately 24.65 crore shares, with prices ranging from Rs 37.22 to Rs 38.28. Following this transaction, Pitti’s ownership in the company has decreased from 28.13 percent to ...

September 25, 2024

Market News

Business

Vedanta prepares for significant dividend discussions amidst a strategic debt reduction plan, eyeing billion in savings.

Vedanta prepares for significant dividend discussions amidst a strategic debt reduction plan, eyeing $3 billion in savings.

Vedanta Ltd, a leading mining company, announced that its board will meet on October 8 to discuss the approval of a fourth interim dividend for the 2024-25 financial year. If approved, the record date for shareholders eligible for this dividend will be October 16, 2024. So far, Vedanta has declared a total dividend of Rs ...

September 25, 2024

Market News

Business

Hyundai India gains IPO approval, aiming to raise billion, marking a significant comeback in the Indian automotive market.

Hyundai India gains IPO approval, aiming to raise $3 billion, marking a significant comeback in the Indian automotive market.

Hyundai Motor India has received approval for its initial public offering (IPO) from the Securities and Exchange Board of India. The South Korean automaker aims to raise $3 billion, valuing the company at around $20 billion. This IPO marks the first for a carmaker in India in the last 20 years, following Maruti Suzuki’s IPO ...

September 23, 2024

Market News

Business

In a historic address, PM Modi declares ambitious goals for India’s development, energized by a significant electoral mandate from the people.

Prime Minister Narendra Modi, speaking in New York to a large gathering of Indian Americans, highlighted his ambitious vision for India’s future in his third term. He emphasized that India is now a land of opportunities and noted the historic mandate from the Indian electorate, which is significant after 60 years. Modi expressed his commitment ...

September 19, 2024

Market News

Business

Amid financial turmoil, SpiceJet seeks to raise Rs 3,000 crore, battling significant dues and investor skepticism.

SpiceJet, facing significant financial challenges with dues over Rs 601 crore, has successfully attracted interest for its Rs 3,000 crore share sale to qualified institutional buyers. The placement has reportedly been oversubscribed, drawing attention from various investors, including several family offices. The funds raised will be crucial for the airline to settle outstanding statutory liabilities, ...

September 13, 2024

Market News

Business

Swiss authorities freeze 1 million tied to an alleged Adani frontman, triggering a significant drop in the group’s stock values.

Swiss authorities freeze $311 million tied to an alleged Adani frontman, triggering a significant drop in the group’s stock values.

Seven stocks from the Adani group experienced declines on Friday, following Swiss authorities freezing $311 million linked to a Taiwanese individual amid a money laundering investigation. The allegations suggest he may serve as a front for the Adani group, which the conglomerate has strongly denied. Key stocks like Adani Power and Adani Energy dropped by ...

September 13, 2024

Market News

Business

Warivo Motor India aims to double revenue with the launch of its high-speed electric scooter, the CRX, targeting significant market expansion.

Warivo Motor India, an electric two-wheeler startup, aims to nearly double its revenue to around Rs 120 crore in the current fiscal year. This growth is driven by the launch of their high-speed electric scooter, the CRX, priced at Rs 79,999. Shifting from their earlier focus on low-speed scooters, Warivo’s CRX can reach speeds of ...

September 13, 2024

Market News

Business

Nazara invests ₹982 crore in Moonshine Technology, acquiring a significant stake in India’s leading online poker platform, PokerBaazi.

Nazara Technologies has announced a significant investment of Rs 982 crore in Moonshine Technology, the parent company of India’s leading online poker platform, PokerBaazi. This deal includes Nazara acquiring a 47.7 percent stake in Moonshine for Rs 831.51 crore, which comprises both cash and a share swap. Additionally, Nazara plans to invest another Rs 150 ...