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EPAM India added 2,000 hands in 10 months: CFO Peterson

Economic Times

Economic Times · 10m ago

EPAM India added 2,000 hands in 10 months: CFO Peterson

US IT engineering services provider EPAM Systems has expanded its workforce in India to over 9,000 employees, with plans to reach 10,000 by early 2025. This marks a significant tenfold increase in its India headcount over the past decade. EPAM entered the Indian market in 2015 through an acquisition and currently has centers in Bengaluru, Hyderabad, Chennai, Pune, and Gurugram. The company's CFO, Jason Peterson, highlighted the significant growth in India compared to its stable and productive delivery center in Ukraine.

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This US tech firm is now bigger than some Indian IT companies. Here's how

Livemint

Livemint · 9m ago

This US tech firm is now bigger than some Indian IT companies. Here's how

US technology services firm EPAM Systems has managed to outpace rivals LTIMindtree Ltd and Tech Mahindra Ltd by doubling its employee strength in India. Following a halt in business due to the Russia-Ukraine conflict, EPAM almost doubled its employee presence in India, making it the company's second-largest employee base. This strategy has allowed EPAM to retain its client base and achieve growth. In contrast, Tech Mahindra and LTIMindtree faced their own challenges, such as revenue decline and senior management departures. EPAM's operational shift and expansion plans have been positively received in the market.

BYJU'S to settle ₹158 crore BCCI dues in 6-8 months: CFO

Money Control

Money Control · 1y ago

BYJU'S to settle ₹158 crore BCCI dues in 6-8 months: CFO

BYJU'S CFO Nitin Golani said the edtech startup is in talks with BCCI over unpaid sponsorship dues of ₹158 crore. "There is a directional agreement on a payment plan that both parties have sort of agreed to," Golani told Moneycontrol. "We will be able to make those payments over the next six to eight months," he added.

Edelweiss Group taps market for investment in alternatives arm

VCCircle

VCCircle · 1y ago

Edelweiss Group taps market for investment in alternatives arm

Edelweiss Group plans to sell a 10-20% stake in its alternative assets arm, Edelweiss Alternatives, in an attempt to raise Rs 1,500-2,000 crore. The stake sale is expected to be completed within the next five months and aims to reduce debt and establish market value for the business. Edelweiss Alternative Asset Advisors currently manages over $5.9 billion in assets and specializes in private debt in India. The company has seen consistent growth, with assets under management increasing by 17% annually since FY17.

Groww adds 1.2 million new mutual fund SIPs in January

Thehindubusinessline

Thehindubusinessline · 1y ago

Groww adds 1.2 million new mutual fund SIPs in January

Financial service platform Groww has witnessed significant growth in the number of Systematic Investment Plans (SIPs) added to its platform. The company added 1 million new SIPs in January, representing 25% of the total new SIPs in India. In comparison, the industry added a total of 51.84 lakh SIPs in the same month. This surge in SIP adoption is attributed to the structured and enduring investment approach they offer, along with the ease of access provided by digital infrastructure such as Aadhar and e-KYC. Groww's average SIP value ranges between ₹2,000 and ₹2,500.

Cashfree Payments, Moglix strengthen financial leadership with key hires

VCCircle

VCCircle · 4m ago

Cashfree Payments, Moglix strengthen financial leadership with key hires

Moglix and Cashfree Payments have strengthened their financial leadership with key new hires. Moglix appointed Sanjeev Arora as CFO to lead their financial strategy and oversee IPO preparations within 12-24 months. Arora brings extensive experience from roles at ASK Automotive and Mosaic India. Cashfree Payments named Piyush Anchliya as CFO, succeeding Vikas Guru. Anchliya, previously at Bandhan AMC, aims to drive strategic priorities. Both companies, founded in 2015, seek to optimize financial operations and strategies.

OpenAI's valuation hits $80 bn, tripling in under 10 months: NYT

Reuters

Reuters · 1y ago

OpenAI's valuation hits $80 bn, tripling in under 10 months: NYT

Microsoft-backed OpenAI has completed a deal that values the startup at $80 billion or more, The New York Times reported. It would reportedly sell existing shares in a tender offer led by the venture firm Thrive Capital. OpenAI's valuation has nearly tripled in less than 10 months, making it the third most valuable tech startup, the report added.

India Should Evolve Beyond Application-Based Layer, Offer End-to-End AI Capabilities: Kant

Inc42 · 1y ago

India Should Evolve Beyond Application-Based Layer, Offer End-to-End AI Capabilities: Kant

The government of India aims to become a global leader in AI research and development, according to CEO Amitabh Kant. They plan to enhance computing capacity by acquiring over 10,000 graphic processing units in the next 18 months. As part of the India AI Innovation mission, over 2,000 Cr has been allotted to support deeptech startups out of the 10,000 Cr budget.

Blinkit appoints former Flipkart executive Vipin Kapooria as CFO

Economic Times

Economic Times · 8m ago

Blinkit appoints former Flipkart executive Vipin Kapooria as CFO

Blinkit, the quick-commerce platform owned by Zomato, has appointed Vipin Kapooria as its new CFO. Kapooria previously worked at Flipkart as the vice president in charge of business finance for mobiles, electronics, and large appliances. Zomato raised Rs 8,500 crore through a qualified institutional placement recently and intends to use a significant portion for expanding quick-commerce operations. Kapooria will work closely with Blinkit CEO Albinder Dhindsa and Zomato CFO Akshant Goyal. Blinkit aims to have 1,000 dark stores by April 2025 and 2,000 by December 2026.

Adani Green Energy appoints Saurabh Shah as new CFO | Mint

Livemint

Livemint · 11m ago

Adani Green Energy appoints Saurabh Shah as new CFO | Mint

Deputy CFO Saurabh Shah will replace Phuntsok Wangyal as the CFO of Adani Green Energy in India, effective September 30.

Spotify names senior Saab executive Christian Luiga as finance chief

Economic Times

Economic Times · 1y ago

Spotify names senior Saab executive Christian Luiga as finance chief

Spotify has appointed Christian Luiga as its new CFO, replacing Paul Vogel. Luiga, a former executive at Saab, will join in the third quarter. Until then, Ben Kung will serve as the interim CFO. This move comes as Spotify looks to improve profitability by increasing prices and expanding into podcasts and audiobooks. Saab announced that Luiga has a notice period of six months and will stay until October 3rd.

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