Hyderabad-based precision engineering solutions company, MTAR Technologies has set the price for its initial public offering (IPO) of equity shares in the range of Rs 574-Rs 575 per share. The IPO of the company, currently involved in manufacturing and developing mission-critical components and critical assemblies serving to clean energy, nuclear, defense, and space sectors, will get disclosed on 3rd March 2021.
Second largest paints company in India, Berger Paints is searching for 10% market share in the construction chemicals business. The 8,000 -9,000 crore paint industry in India is currently being led by Pidilite and Asian Paints. Berger Paints now possesses 4 – 4.5% market share in the construction chemicals. Berger Paints Managing Director, Abhijeet Roy said, “Construction chemicals are used widely now-a-days in infrastructure projects as well as in residential projects.”
Online food ordering platform, Zomato has raised $250 million (Rs 1800 crore plus) from existing investors Tiger Global, Kora, Bow Wave Capital, and Dragoneer Investment Group at a post-money valuation of $5.4 billion, a significant increase from the $3.9 billion valuation last year. Zomato is also planning to go public in the coming months.
Indiabulls Housing Finance is soon going to raise $200 million (approximately Rs 1,460 crore) through an offer of Foreign Currency Convertible Bonds (FCCBs) at the floor price of over Rs 227 each. With this, Indiabulls will be having a total of $500 million in the current fiscal through a combination of equity, stake sale, and debt. The bonds will remain for five years of duration.
Data Management and hybrid cloud services provider NetApp announced, “It has successfully completed its seventh demo day of the company’s flagship startup accelerator program called “NetApp Excellerator.”
The demo day offered the seven graduating startups – BlinkIn, Litmus Automation, CloudHedge, SyntacticAI, Arintra, Sn126, and BrainSightAI, an opportunity to display their solutions to investors, venture capitalists, customers, and many other industrialists. These startups have the capacity to disrupt the fields like edge computing, data management, clinical AI, and remote customer service.
Premji told Finance Minister Nirmala Sitharaman at the interaction, “There is a possibility that we can get the Serum Institute to supply vaccines at about ₹300 a shot, and hospitals and private nursing homes can administer this at a cost of ₹100 per shot. So with ₹400 a shot, it is possible to do mass vaccination of the population.”
Online college admissions platform, Leverage Edu said that it has raised Rs 47 crore in a Series A round led by Tomorrow Capital which invested around Rs 26.5 crore. Existing investors include Blume Ventures and DSG Consumer Partners invested Rs 20.5 crore in this round. Leverage Edu founder and CEO, Akshay Chaturvedi said, “the company will use the fund to expand services in smaller towns and cities and reach out to foreign educational institutions in Canada and Australia.”
Ingka Centres, under which Ikea Retail comes, has its global vision to expand its business in new markets and India is one of them. Peter Betzel, CEO and CSO Ikea India told, “Delhi NCR is one of our most valuable markets in India and we will reach many people with our beautiful, affordable, well-designed, and sustainable home furnishing products. Ikea’s aim through this project is to meet 100 million people in India in the coming years.”
Piramal Group said, “The Reserve Bank of India (RBI) is understood to have cleared the resolution plan for debt-ridden Dewan Housing Finance Limited (DHFL) as approved by the Committee of Creditors (CoC). We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC.”The resolution plan was approved in its 18th meeting held on 15th January 2021.
The aim of this MoU is to support local artisan communities to set up their business on the Flipkart Marketplace through its “Samarth” program. Currently, the program provides opportunities to over 7.5 lakhs of artisans, weavers, and craftsmen all over the country.
Chief Corporate Affairs Officer, Flipkart, Rajneesh Kumar said, “The program seeks to break entry barriers for local artisans, weavers by extending incubation support which includes benefits in the form of seamless onboarding and cataloguing”.