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News on Medial
SaaS firm Zaggle re-appoints Godkhindi as CEO, MD
VCCircle
·
1y ago
Medial
Fintech startup Zaggle has re-appointed Avinash Ramesh Godkhindi as its CEO and MD. Godkhindi, who has been with Zaggle since 2012, played a crucial role in the company's IPO in September 2023. He has over 20 years of experience in the financial industry and has previously worked with institutions like CitiBank, Barclays, and ING Bank. Zaggle offers an expense management platform to businesses and generated INR 553 crore ($74 million) in net sales in FY23.
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J&K Bank appoints veteran banker S Krishnan as non-executive chairman
Economic Times
·
15d ago
Medial
J&K Bank's board has approved the appointment of S Krishnan as its non-executive chairman, effective until March 26, 2028, pending RBI approval. Previously an independent director at the bank, Krishnan has served as MD & CEO of Punjab & Sind Bank and, following retirement, as MD & CEO of Tamilnad Mercantile Bank. With over four decades of banking experience, Krishnan holds a postgraduate degree in Commerce and is a qualified Cost Accountant.
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Tata Digital appoints Naveen Tahilyani as CEO, replacing Pratik Pal
Economic Times
·
1y ago
Medial
Tata Digital has appointed Naveen Tahilyani as CEO and managing director, replacing Pratik Pal. Tahilyani, currently serving as CEO and MD of Tata AIA Life Insurance, will assume his new role on February 19. The move comes with a mandate to drive Tata Digital's ecommerce unit. Pal will remain at Tata Digital to contribute his experience to the firm, but his exact role has not been specified. Tahilyani was chosen by Tata Sons Chairman N Chandrasekaran for his successful track record in the insurance, banking, and asset management sectors.
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CDPQ-backed Edelweiss ARC appoints insider as interim MD and CEO
VCCircle
·
5m ago
Medial
Edelweiss Asset Reconstruction Company appointed Mythili Balasubramanian as interim MD and CEO, following RBI approval. Balasubramanian, with over 40 years in banking and insolvency, will serve until September 30. Her appointment comes after the RBI rejected reappointment of former MD and CEO Raj Kumar Bansal. Edelweiss ARC, backed by Canadian pension fund CDPQ, manages Rs 28,000 crore in assets. The company plans to explore international opportunities and potential public listing in coming years.
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SaaS fintech firm Zaggle identifies three acquisition targets
VCCircle
·
8m ago
Medial
SaaS fintech firm Zaggle Prepaid Ocean Services Ltd is focusing on three acquisition targets to boost its post-IPO growth. According to Executive Chairman Raj Narayanam, the Mumbai-listed company's acquisition interests include segments like merchant card software, FASTag, and accounts management.
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National Investment and Infrastructure Fund appoints former Actis exec as MD & CEO
VCCircle
·
1y ago
Medial
The National Investment and Infrastructure Fund (NIIF) has appointed Sanjiv Aggarwal, former Asia head for energy investments at private equity firm Actis, as its managing director and CEO. Aggarwal will assume his new role on 1 February and take over from interim head Rajiv Dhar. NIIF is a quasi-sovereign fund of the Indian government and focuses on investing in infrastructure and other sectors. Aggarwal's appointment comes after the exit of the former MD and CEO Sujoy Bose, who stepped down in September 2022.
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Tata AIA Life appoints Venkatachalam H as CEO & MD
Livemint
·
1y ago
Medial
Tata AIA Life Insurance has announced the appointment of Venkatachalam H as its new CEO and MD. He will succeed Naveen Tahilyani, who will continue as a non-executive director of the company. Venkatachalam joined Tata AIA in 2016 and previously served as the President and Chief Distribution Officer.
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IPO-bound Swiggy appoints Suparna Mitra as an independent director
Entrackr
·
1y ago
Medial
Swiggy has announced the appointment of Suparna Mitra as an independent director to its board. The move comes at a time when the Prosus-backed foodtech company is readying itself for public listing. Mitra, who was the CEO of Titan Company Limited’s Watches and Wearables Division, brings over 30 years of experience in lifestyle and retail. Mitra has joined Swiggy’s distinguished list of independent directors that includes Anand Kripalu, MD & Global CEO at EPL Limited and Chairperson of the Swiggy board, Shailesh Haribhakti, chairman of Shailesh Haribhakti & Associates, and Sahil Barua, MD and CEO at Delhivery. Swiggy has seen a few key executives’ departures at the management of late. Some of the notable executives who have left the firm since April last year are Karan Arora (VP and head of supply chain management), Nishad Kenkre (VP and head of revenue and growth at Instamart), Ashish Lingamneni (VP and head of brand and product marketing), Dale Vaz, chief technology officer, and senior VP Karthik Gurumurthy. Meanwhile, it has also announced new appointments such as Ashwath Swaminathan as its chief growth & marketing officer and Anirban Roy and Dipak Krishnamani as VP of Growth and VP of Swiggy Mall, respectively. As mentioned above, the foodtech firm is in the process to file its IPO papers soon. According to Entrackr‘s exclusive report, Swiggy booked Rs 5,476 crore in revenue from operations during the first three quarters of financial year FY23. The company recorded $200 million (approximately Rs 1,600 crore) loss for the nine months.
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Zaggle Partners Hero MotoCorp To Help Streamline And Optimise Management Of Its Staff Expenses
Inc42
·
1y ago
Medial
Fintech SaaS startup Zaggle has entered into an agreement with Hero MotoCorp to provide its employee expense management platform, Zaggle Save. Zaggle Save is a multi-purpose card that can replace food cards, fuel cards, travel vouchers, gift cards, and more. The agreement with Hero MotoCorp will be in effect from July 4, 2024, until the agreement is terminated according to mutually agreed terms.
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Zaggle raises stake in Mobileware with ₹7.25 cr investment
Inshorts
·
5m ago
Medial
Fintech SaaS company Zaggle has acquired 4,622 equity shares for ₹7.25 crore from Mobileware's promoters, gaining a 12.34% stake on a fully diluted basis. Zaggle’s total shareholding in Mobileware now stands at 38.34%, up from 26%. The acquisition will help Zaggle develop new solutions for lending, credit, and card management using Mobileware’s UPI switch technology.
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SBICAP appoints former SBI executive as MD, CEO
VCCircle
·
1y ago
Medial
SBICAP Ventures Ltd, the alternative asset management arm of State Bank of India (SBI), has appointed Prem Prabhakar as its new MD and CEO. In his new role, Prabhakar will be responsible for overseeing the strategic direction, operational efficiency, and overall growth of the company. He brings over 24 years of experience in the banking sector, having previously served as a general manager at SBI. This appointment comes as SBICAP recently launched its Trilateral Development Cooperation Fund in partnership with the Ministry of External Affairs.
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