PhonePe, Star Health: Transforming Insurance Access
A new dawn is breaking for health insurance accessibility in India. On April 3rd, 2024, Star Health Insurance, the country’s leading retail health insurer, and PhonePe, a prominent digital payments platform, announced a groundbreaking partnership. This collaboration aims to revolutionize the health insurance landscape by offering Star Health’s comprehensive plans through the user-friendly PhonePe app. […]
General Atlantic Acquires Ujala Cygnus Hospital Chain
The Indian healthcare sector is experiencing a surge in investment activity, with global players recognizing its immense potential. In a recent landmark deal valued at approximately ₹1600 crore (US$192.32 million), private equity giant General Atlantic (GA) announced the acquisition of a 70% stake in Ujala Cygnus Healthcare Services. This strategic move strengthens GA’s presence in […]
Vedanta Hit With Rs 1.86 Cr GST Demands: Financial Stress
Indian mining major Vedanta Ltd. has been hit with Goods and Services Tax (GST) demand notices totaling Rs 1.86 crore, representing a significant financial burden for the company. Issued by the Office of the Assistant Commissioner in Tirunelveli, Tamil Nadu, the notices cover a four-year period, ranging from financial year (FY) 2017-18 to FY 2021-22. […]
Gensol Engineering FY24 Revenue Surges 141% to Rs 960 Cr
Gensol Engineering, a leading player in the clean energy domain, has cemented its position as a powerhouse in the renewable energy sector with phenomenal financial results for the fiscal year ending March 31, 2024 (FY24). The company shattered its previous records by achieving a staggering Rs 960 crore (provisional and unaudited) in revenue, representing a […]
Sharekhan, Human Value Acquisition by Mirae Asset Approved
The Indian financial landscape witnessed a significant shift on April 2, 2024, with the Competition Commission of India (CCI) approving Mirae Asset’s acquisition of Sharekhan Ltd. and Human Value Developers Pvt. Ltd. in a deal valued at ₹3,000 crore (approximately USD $3.8 billion). This landmark deal marks Mirae Asset’s strategic expansion in the Indian market, […]
IndoEdge, MG Motor 8% Stake Deal Approved
The Indian electric vehicle (EV) market is experiencing a surge unlike anything seen before. With a Compound Annual Growth Rate (CAGR) of 30%, the market is forecast to reach a staggering valuation of $50 billion by 2030. To capitalize on this phenomenal growth, IndoEdge India Fund’s acquisition of an 8% stake in MG Motor India […]
India’s First 10GW: Adani Green’s Milestone
Adani Green Energy Limited (AGEL) has cemented its position as a frontrunner in India’s clean energy revolution by achieving a landmark accomplishment – surpassing a significant 10,000 megawatts (MW) of operational renewable energy capacity. This remarkable feat marks a pivotal step in India’s journey towards a sustainable future, significantly boosting the nation’s progress in clean […]
Lemonn: PeepalCo’s New Investor App
PeepalCo, the financial services powerhouse behind the popular crypto exchange CoinSwitch, is shaking things up in the Indian stock market (estimated at $3.5 trillion as of April 2024) with the launch of its new app, Lemonn. Announced on April 2nd, 2024, Lemonn caters specifically to first-time investors, aiming to bridge the knowledge gap and make […]
Byju’s Dismisses Employees Via Calls Amid Financial Crisis
Byju’s, the Indian education technology (edtech) major valued at $22 billion just two years ago, finds itself in hot water following reports that it terminated between 100 and 500 employees over phone calls, without proper notice or adherence to a performance improvement plan (PIP). This news comes as Byju’s grapples with ongoing financial difficulties exceeding […]
Zomato Receives ₹184 Cr Service Tax Penalty Notice
Online food delivery platform Zomato is locked in a tax battle with the Indian authorities. The company received a demand and penalty order for a staggering Rs 184 crore, a significant sum that they plan to vigorously contest. Service Tax and Penalty on Foreign Transactions The dispute centers on alleged non-payment of service tax between […]