May 2020

Fino Payments Bank hits operational profitability, revenue jumps 86% in FY 20
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Mumbai-based Fino Payments Bank said it has hit operational profitability and reduced its net loss by 50% for the last financial year. As per numbers shared by the bank, it reported a net revenue of Rs 689 crore, up 86...
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Suryoday SFB launches new working capital product
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Suryoday Small Finance Bank has rolled out a working capital product with a small overdraft (OD) limit on a pilot basis in two branches – Trichy (Tamil Nadu) and Cuttack (Odisha) – to help its customers meet the urgent liquidity...
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Jio gets new marquee investor
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Jio gets new marquee investor: Vista Equity to buy 2.32% for Rs 11,367 crore Jio Platforms gets third high-profile investor after Facebook and Silver Lake. RIL’s digital unit has now raised Rs 60,596.37 crore from leading technology investors in less...
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Studds Helmet protective glasses & face shields on sale to fight Covid-19
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Studds Helmet protective glasses & face shields on sale to fight Covid-19 Studds have clarified that the glasses can shield can be bought directly from the manufacturer through its social media pages, mail, and phone. In a bid to contribute to...
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Zomato may buy Grofers in an all-stock deal valuing e-grocer at $750M
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Zomato may buy Grofers in an all-stock deal valuing e-grocer at $750M In what could possibly emerge as a big consolidation move in India’s consumer internet sector, food delivery and restaurant discovery platform Zomato is learnt to be in talks to acquire online grocery retailing startup Grofers in...
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Tamilnad Mercantile Bank to seek shareholders’ approval for IPO again
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Tamilnad Mercantile Bank to seek shareholders' approval for IPO again Ninety-nine-year old Tamilnad Mercantile Bank (TMB) is to again seek shareholders’ approval to become a public listed entity. It had done so in 2016, too, at its 93rd annual general meeting (AGM)....
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Bira91 raises $1.3 million, as losses mount for the Indian beer brand
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Bira91 raises $1.3 million, as losses mount for the Indian beer brand Indian beer company Bira91 has raised $1.3 million in venture debt from Anicut capital, according to filings sourced by data intelligence platform paper.vc. According to paper.vc, the latest...
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Bigbasket aims to go for IPO by 2023, cross Rs 7,000 cr in revenue in FY21
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Bigbasket aims to go for IPO by 2023, cross Rs 7,000 cr in revenue in FY21 Bigbasket expects to close the current financial year (FY20) with a top line of Rs 5,000 crore. In FY22, it hopes to hit the...
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AB InBev wants its premium brands to have a bigger play in India’s beer market
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AB InBev wants its premium brands to have a bigger play in India's beer market United Breweries, which owns Kingfisher brand, is by far the leader in the beer segment in India, controlling more than half the market while AB...
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