High-profile companies bound for public listings have been hit by surprise lawsuits and complaints from former insiders and vendors alleging breach of past contracts and non-payment of dues, creating uncertainties for the timelines of their initial public offerings (IPO) and casting doubts over their post-listing share performance. Companies feel these are attempts to create hurdles in… Continue reading Several IPO-bound Indian companies hit by last-minute lawsuits, complaints …
Category: Tech News
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Patanjali-owned Ruchi Soya gets Indian regulator’s nod for $580m FPO to pare debt
“The approval came in on Saturday,” the person said. With the regulator’s approval in hand, the company is looking to launch the share sale soon, as early as next week, he added. “They are in a rush to launch. The pricing will be finalized close to the launch date,” he said. Ruchi Soya had filed… Continue reading Patanjali-owned Ruchi Soya gets Indian regulator’s nod for $580m FPO to pare debt
Analysts expect more pressure as Malaysia’s political turmoil drives away investors
Malaysia’s currency fell to a one-year low on Monday and analysts forecast further pressure on the country’s financial markets as the prime minister’s resignation raised the prospect of protracted political instability and uncertainty. PM Muhyiddin Yassin said he quit after losing the confidence of parliament, though Malaysia’s king said he will remain caretaker leader until a replacement is found.… Continue reading Analysts expect more pressure as Malaysia’s political turmoil drives away investors
Aramco in talks to buy 20% stake in Reliance’s oil refining, chemicals biz
Saudi Aramco is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s oil refining and chemicals business for about $20 billion to $25 billion in Aramco‘s shares, Bloomberg News reported on Monday. An agreement could be reached as soon as the coming weeks, according to the report which cited people with knowledge of the matter. Aramco and Reliance declined to comment. Reliance announced a sale of a 20%… Continue reading Aramco in talks to buy 20% stake in Reliance’s oil refining, chemicals biz
India: ASK Investment Managers launches flexicap Alternate Investment Fund
ASK Investment Managers Ltd. has launched digital onboarding for its Alternate Investment Fund (AIF), the first of its kind in the industry. The ASK Emerging Opportunities Fund, a close-ended Category-III, long-only AIF is a flexi-cap portfolio with a mid-cap bias and will invest in listed Indian equities. With the government’s focus on Atmanirbhar Bharat and… Continue reading India: ASK Investment Managers launches flexicap Alternate Investment Fund
How drones are changing our view of sharks
A quick Google search for “sharks” drums up a sampling of headlines of recent sightings. “Leopard Sharks Return to La Jolla Waters in Droves,” reads one, while another highlights a “cluster of juvenile great white sharks off Pacific Palisades coast.” There’s been a steady stream of these kinds of stories all summer: sharks swimming eerily… Continue reading How drones are changing our view of sharks
US government opens probe into Tesla Autopilot crashes with emergency vehicles
The US National Highway Traffic Safety Administration (NHTSA) has opened a probe into Tesla’s Autopilot software, citing the cars’ repeated collisions with parked emergency vehicles. The NHTSA investigation will cover Tesla Models Y, X, S, and 3 vehicles released from 2014 through 2021. The federal agency says since 2018 it has logged 11 incidents (which… Continue reading US government opens probe into Tesla Autopilot crashes with emergency vehicles
Beckley Psytech Closes $80M Series B Funding
Beckley Psytech, an Oxford, England-based private company dedicated to addressing neurological and psychiatric disorders through the novel application of psychedelic medicines, closed an $80m Series B financing. The round was led by Integrated, with participation from Prime Movers Labs, Adage Capital Management, Palo Santo; Delphi VC; Leafy Tunnel; Negev Capital; and existing investor Bicycle Day Ventures. The company intends… Continue reading Beckley Psytech Closes $80M Series B Funding
Indian bike taxi service Rapido raises $52 million
Rapido, a bike taxi aggregator in India, said on Monday it has raised $52 million in a new financing round as the six-year-old startup looks to find space in a category dominated by Ola and Uber in the South Asian market. The six-year-old startup’s new funding — Series C — was financed by Shell Ventures,… Continue reading Indian bike taxi service Rapido raises $52 million
India Digest: Heads Up For Tails raises $37m; IIFL AMC, others lead funding in Miko …
Pet care company Heads Up For Tails (HUFT) has rasied $37 million in its Series A funding round led by Verlinvest and Sequoia Capital India. In another development, Miko has raised funding from IIFL AMC, Mankind Pharma Family Office, and others. Heads Up For Tails raises $37m Delhi-based pet care company Heads Up For Tails… Continue reading India Digest: Heads Up For Tails raises $37m; IIFL AMC, others lead funding in Miko …