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IndiaMART’s Stake In Mobisy Increases To 27.21%

Inc42 · 11m ago

IndiaMART’s Stake In Mobisy Increases To 27.21%

IndiaMART invested INR 8 Cr in Mobisy, resulting in a stake increase from 25.08% to 27.21%. Mobisy Technologies operates Bizom, a SaaS-based distribution technology solutions provider for brands and B2B retailers.

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CaratLane's Sacheti, Plutus Wealth top up bet on Nazara; make open offer

VCCircle

VCCircle · 6m ago

CaratLane's Sacheti, Plutus Wealth top up bet on Nazara; make open offer

CaratLane's Mithun Sacheti and Plutus Wealth's Arpit Khandelwal invested Rs 495 crore in Nazara Technologies, acquiring a 5.4% stake through preferential allotment. This increases their collective stake with associates to about 27.17%, triggering a mandatory open offer for an additional 26% stake at Rs 990 per share. Nazara plans to use this capital to expand and has acquired game IPs to enhance its mobile gaming portfolio. Shares rose about 5% on the news.

IndiaMART to invest up to Rs 14.28 Cr in Mobisy Technologies

YourStory

YourStory · 8m ago

IndiaMART to invest up to Rs 14.28 Cr in Mobisy Technologies

IndiaMART is set to acquire shares in Mobisy Technologies Private Limited for up to Rs 14.28 crore. As part of the deal, IndiaMART will buy equity shares and Compulsory Convertible Preference Shares (CCPS) from an existing investor. This acquisition aligns with IndiaMART's strategy of expanding its SAAS-based solutions for businesses. Mobisy Technologies, known for its retail intelligence platform Bizom, generated Rs 78.6 crore in turnover during FY24. IndiaMART's shareholding in Mobisy will increase to approximately 31.33% following the investment.

Ranjan Pai’s Claypond Capital ropes in former Fireside exec

VCCircle

VCCircle · 1y ago

Ranjan Pai’s Claypond Capital ropes in former Fireside exec

Claypond Capital, the family investment office of Ranjan Pai, Chairman of Manipal Group, has appointed a former Fireside Ventures executive as the firm increases its startup investments. The family office was established after Temasek acquired a $2 billion stake in Manipal Group.

Nuvama Slashes IndiaMART’s PT By 5% To INR 2,650 On Subdued Subscriber Addition

Inc42 · 1y ago

Nuvama Slashes IndiaMART’s PT By 5% To INR 2,650 On Subdued Subscriber Addition

Nuvama Institutional Equities has reduced the 12-month price target for IndiaMART InterMESH by 5% to INR 2,650. The brokerage cited the company's subdued subscriber addition during the March quarter as the reason for the reduction. Nuvama also mentioned that the slowing subscriber additions are impacting IndiaMART's collections. The brokerage maintained a 'HOLD' rating on the stock, stating that there are no signs of recovery in subscriber additions. IndiaMART recently reported a significant increase in its consolidated net profit for Q4 FY24.

Nazara Raises Stake In Absolute Sports With INR 73 Cr Investment

Inc42 · 7m ago

Nazara Raises Stake In Absolute Sports With INR 73 Cr Investment

Nazara, a prominent gaming company, has acquired an additional 10.26% stake in Absolute Sports for INR 72.73 crore (approximately $8.4 million). This investment increases Nazara's total ownership in the subsidiary to 81.94%. The acquisition is part of a Share Purchase Agreement (SPA), further solidifying its commitment to strengthening its position in the gaming industry. This move reflects a strategic effort to expand its portfolio and leverage growth opportunities in the sports segment.

ACC completes acquisition of Asian Concretes and Cements

Livemint

Livemint · 1y ago

ACC completes acquisition of Asian Concretes and Cements

ACC Ltd, a subsidiary of Ambuja Cement Ltd owned by Adani, has acquired the remaining 55% stake in Asian Concretes and Cements Private Ltd (ACCPL) for ₹425.96 crore ($57 million). The acquisition was funded internally and brings ACC's ownership of ACCPL to 100%. This acquisition raises ACC's total cement production capacity to 38.55 MTPA and increases the Adani Group's overall capacity to 77.40 MTPA. The group aims to expand this capacity to 106 MTPA by FY26. ACCPL operates a cement plant in Himachal Pradesh and a subsidiary in Punjab.

Companies have a playbook for tariffs under Trump. It includes price increases.

Livemint

Livemint · 9m ago

Companies have a playbook for tariffs under Trump. It includes price increases.

Companies are considering potential price increases in response to proposed tariffs under the Trump administration. Some CFOs are hesitant to raise prices as customers are already feeling the strain of inflation. While price hikes are not the only option, they are being considered by companies as a response to potential tariffs. Many companies have diversified their supply chains away from China in recent years to mitigate future trade issues. CFOs face challenges in determining the balance between price increases and other options to offset tariffs, as consumers may not be open to additional price increases.

TCS likely to roll out salary increases in March, hikes to average 4-8%: Report

Business Today

Business Today · 5m ago

TCS likely to roll out salary increases in March, hikes to average 4-8%: Report

TCS is planning to implement salary increases in March, with average hikes projected to be between 4% and 8%.

Trump’s attacks on green energy are big trouble for data centers, AI

Arstechnica

Arstechnica · 3m ago

Trump’s attacks on green energy are big trouble for data centers, AI

The Trump administration's crackdown on renewable energy could negatively impact data centers' growth, AI development, and the ability to meet power demands, industry experts warn. The suspension of clean energy projects increases reliance on fossil fuels, raising costs and potentially slowing technological progress. This policy shift might undermine the U.S.'s position in the global AI race, as data centers demand significant power increases by 2030. The tech industry advocates for maintaining renewable energy expansion to prevent setbacks.

Volume of Apple sales underperforms Huawei, Xiaomi on China's Singles Day

Economic Times

Economic Times · 1y ago

Volume of Apple sales underperforms Huawei, Xiaomi on China's Singles Day

According to data from Counterpoint Research, Apple saw a 4% decline in the number of smartphones sold during China's Singles Day shopping festival. In contrast, domestic rivals Huawei and Xiaomi recorded significant increases of 66% and 28% respectively. Analysts attribute Apple's underperformance to supply chain issues and competition from Chinese brands.

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