Rachit Prints, a specialty fabric maker based in Meerut, has received in-principle approval from the BSE SME exchange for an IPO to raise approximately Rs 19.5 crore. The IPO involves a fresh issue of 13.08 lakh equity shares, with funds allocated for working capital, business expansion, and debt prepayment.
The alleged attempts by Meta to hire OpenAI staffers are the latest signs of a frenzy to hire top engineers to develop AI models, and they come at a time when the Facebook owner is working on building its superintelligence unit to catch up with competitors.
Lobana, who joined Google more than seven years ago after having previously worked at the NatWest Group, American Express, Standard Chartered Bank and ANZ Grindlays Bank, said she is "very bullish" on India, though "some of the challenges like supply chain and manufacturing that people are seeing may offer bumps".
The Bengaluru-based startup, which focuses on UPI payments, had raised $12 million from Incubate Fund India and Unilever Ventures last October.
Optiemus Electronics has partnered with OnePlus to manufacture premium IoT devices, including TWS earbuds and wireless neckbands, in India. Production has commenced with the OnePlus Bullets Wireless Z3 at Optiemus' facility. This collaboration aims to increase localisation, reduce costs, and strengthen OnePlus' presence in the Indian market through Project Starlight.
The Competition Commission of India (CCI) has approved Delhivery's acquisition of Ecom Express and Mahindra & Mahindra's (M&M) acquisition of SML Isuzu. Delhivery will acquire a majority stake in Ecom Express for ₹1,407 crore, enhancing its logistics solutions for the e-commerce sector. M&M will acquire a 58.
Bluestone is preparing for its public market debut. 360 One and Centrum Wealth are facilitating secondary deals. These deals amount to Rs 300–350 crore. The transaction values Bluestone at Rs 10,500 crore. RB Investments will fully exit Bluestone through these deals. Bluestone's IPO includes a fresh capital raise. The company reported revenue of Rs 1,266 crore in fiscal 2024.
Honeywell India is poised to achieve $1 billion in revenue by 2025, driven by the synergy of 5G, cloud, and AI technologies. The company, which has been present in India for over 90 years, sees the country as one of its fastest-growing markets globally.
Apparel exports accelerated to grow in double digits due to political uncertainties caused by the ouster of the Sheikh Hasina government in Bangladesh last August. Exports surged by 17.3% in September, and further by 24.35% in October.
It cited prolonged government approvals and geopolitical tensions as major risk factors to an equity partnership in India.
Mumbai banks anticipate lower lending yields this fiscal year. Caution in unsecured loans and slower retail growth contribute. Policy rate cuts also play a role. Analysts predict a yield drop to 8.6%. Net interest margins may contract. Repricing of loans linked to external benchmarks will impact private banks. Deposit repricing lags will further squeeze margins.
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