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ETSA 2024 | New-age firms solving real-life issues with solid government backing: IDFC First Bank MD & CEO
Economic Times
·
10m ago
Medial
- V Vaidyanathan, CEO of IDFC First Bank, highlighted India's impressive progress in the startup sector, attributing it to the robust digital ecosystem. - The government's initiatives and support system are playing a crucial role in fostering the growth of new-age companies. - Vaidyanathan acknowledged Nandan Nilekani for his contribution to India's digital infrastructure and the subsequent development of the startup ecosystem. - IDFC First Bank has a substantial number of startups as its customers, highlighting the bank's commitment to the startup community. - Vaidyanathan emphasized the importance of Bengaluru's ecosystem, driven by universities, young talent, and venture capitalists, but also acknowledged the need for improved infrastructure and amenities in the city.
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LIC raises stake in IDFC First Bank to 2.68% at ₹80.63/share via private placement offer | Mint
Livemint
·
1y ago
Medial
The Life Insurance Corporation of India (LIC) has increased its stake in IDFC First Bank, acquiring a 0.2% stake on a preferential basis. LIC now holds 20.02 crore shares in the private sector lender and has become the largest shareholder in the bank. IDFC First Bank aims to raise ₹3,200 crore through a preference share allotment, which will be used for high-asset-quality growth opportunities. LIC's investment is priced at ₹80.63 per share.
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GQG takes ₹1,527 cr stake in IDFC First
Livemint
·
1y ago
Medial
Cloverdell Investment Ltd, an institutional shareholder in IDFC First Bank, has sold a 4.2% stake in the bank for INR 2,480.3 crore (approximately $335 million) through a bulk deal on the exchanges. The sale included shares purchased by GQG Partners, which has been making significant investments in Indian firms, including Adani group companies and Patanjali Foods Ltd. IDFC First Bank's stock has performed well in recent months, gaining 28.7% in the past three months.
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CA Rudramurthy BV suggests a cautious, sector-specific approach; 5 insurance & defence stocks to bet on
Economic Times
·
1m ago
Medial
CA Rudramurthy BV, MD of Vachana Investments, advises a sector-specific investment approach, particularly favoring insurance and defense stocks. He recommends monitoring key market indices like Bank Nifty and Nifty, as well as crude oil and dollar-rupee movements. Prominent insurance stocks include HDFC Life, SBI Life, LIC, and Max Financial. In defense, Bharat Electronics Limited (BEL) and Hindustan Aeronautics Limited (HAL) stand out as promising investments.
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ONDC to add banks, fintechs to take credit services to last mile
Economic Times
·
1y ago
Medial
Open Network for Digital Commerce (ONDC) is set to integrate banks such as HDFC Bank, IDFC First Bank, and Karnataka Bank, as well as fintech firms like Fibe, to offer unsecured personal loans and invoice loans targeting small merchants in underserved areas of India. ONDC is also piloting credit disbursals through partnerships with Tata Neu, Paisabazaar, DMI Finance, and Aditya Birla Finance. Additionally, ONDC plans to introduce business-to-business credit services and explore small ticket, short tenure loans based on alternative data. ONDC is also expanding into insurance and investments segments.
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PE-backed Ugro’s founder on growth prospects, M&A opportunities and more
VCCircle
·
9m ago
Medial
Ugro Capital, a non-bank lender backed by Danish impact investor IFU and private equity firms, is focused on expanding its business through growth prospects and potential mergers and acquisitions. In May, the company raised fresh equity capital and also acquired embedded finance platform MyShubhLife. Shachindra Nath, founder and MD of Ugro Capital, discusses the company's strategies and outlook for the future.
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Startups better than MBA for learning skills to start your own company, entrepreneurs say
Economic Times
·
1y ago
Medial
Entrepreneurs believe that joining early-stage startups offers more valuable skill learning and leadership development for launching one's venture compared to pursuing an MBA program. While acknowledging the managerial skills gained from MBAs, founders assert that entrepreneurship encompasses broader aspects like fundraising, vision-building, team recruitment, and problem-solving. They note that only a small fraction of MBA graduates actually become entrepreneurs, supporting the idea that startups can offer a more practical real-life education for aspiring business owners.
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'Nobody cares that you're using AI': US angel investor shares blunt message for AI startups
IndianStartupNews
·
4d ago
Medial
US angel investor Roy Korner advises AI startups to focus on solving significant problems rather than just using AI. In a LinkedIn post, he notes that merely incorporating AI is not impressive, as everyone has access to similar technologies. Investors are now interested in companies that demonstrate real customer understanding and execution. Korner emphasizes the importance of delivering genuine value and outcomes, with many agreeing that success lies in addressing critical, customer-focused issues.
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Dhanlaxmi Bank's independent director quits citing attitude of MD & CEO
Livemint
·
1y ago
Medial
Sridhar Kalyanasundaram, an Independent Director of Dhanlaxmi Bank, has resigned citing the attitude of the MD & CEO and other issues. The letter of resignation highlighted instances where the inputs of the Independent Director were deliberately ignored by other board members to support the CEO. Issues mentioned include delays in the approval of a rights issue, insufficient capital infusion, irregular conduct of board meetings, and unethical practices in the bank's business dealings. The director also mentioned a shareholder allegation regarding the CEO's appointment in 2021.
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GQG Partners buys 0.8 per cent stake in Airtel for over $700 million
Thehindubusinessline
·
1y ago
Medial
US investment firm GQG Partners has acquired a 0.8% stake in Indian telecom company Bharti Airtel from Singapore Telecommunications (Singtel) for $712.5m. Singtel sold 49 million shares at INR 1,193.7 each, reducing its stake in Airtel to 29%. GQG Partners made headlines in March 2023 when it invested in Adani Group companies. The firm has also invested in other Indian firms, including JSW Energy, Patanjali Foods, IDFC First Bank and GMR Airports Infrastructure, with its India portfolio valued at around $22bn. Singtel said the deal was part of its capital recycling efforts to unlock value.
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Sharpsell.ai raises Rs 30 Cr in Series A led by Equentis Angel Fund
Entrackr
·
10d ago
Medial
Sharpsell.ai, a SaaS-based sales playbook automation platform, has raised Rs 30 crore in a Series A round, with Rs 10 crore coming from Equentis Angel Fund. The funds will be used to enhance product capabilities, expand within existing verticals like BFSI and pharma, and drive international expansion across Southeast Asia and MENA. Founded in 2022, Sharpsell.ai provides AI-led sales enablement tools used by lakhs of field sales representatives across more than 30 Indian companies, including LIC, Axis Bank, IDFC First Bank, SBI Life, Mahindra, and Whirlpool. The platform offers ready-to-use sales pitches, dynamic personalized content, and contextual coaching tools to improve frontline sales performance. Sharpsell.ai competes with the likes of Pitchlane, Showell, and Allego in the global sales enablement segment.
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