SEBI Questions Adani Group’s Shareholding: Foreign Investors Warned
The Securities and Exchange Board of India (SEBI) has flagged concerns regarding Adani Group’s shareholding. It stated that some offshore accounts are holding Adani shares without proper disclosure. This issue links back to the Hindenburg Report, which claimed that Adani used offshore entities to manipulate shareholding and maintain control, bypassing SEBI’s requirement of at least 25% public float for listed companies. SEBI warns of penalties if disclosures are not made.
PVR INOX Targets Budget Cinemas in Tier 2 & 3 Cities
PVR INOX is expanding into smaller cities by introducing budget cinemas with modern infrastructure. Under its asset-light model, it has signed deals for 69 screens and plans to tap into an underserved market that previously lacked access to quality cinema experiences.
Rasna Acquires Jumpin Brand for ₹350 Crore
Popular Indian beverage brand Rasna has acquired the Jumpin drink brand from Hershey India. Rasna plans to reintroduce Jumpin with reduced sugar and added vitamins, targeting ₹1,000 crore revenue in the non-carbonated drinks market by 2033.
Xiaomi India Revenue Drops by 45%
Xiaomi India reported a 45% year-on-year drop in revenue in Q1, mainly due to lower sales in the ultra-budget smartphone segment. Retailers cite poor margins compared to competitors like Vivo and Oppo. Xiaomi is shifting focus to premium models to regain profitability.
Bajaj Auto Secures $632 Million Loan for KTM
Bajaj Auto, co-owner of KTM AG, has secured a $632 million loan to support KTM’s financial stability amidst growing debt concerns. This comes after speculation in late 2024 about KTM’s potential insolvency.
BlackRock to Invest ₹500 Crore in Bira 91
Investment giant BlackRock plans to invest ₹500 crore in Indian craft beer brand Bira 91. Despite branding strength, Bira 91 has struggled to turn a profit, and the funds will help stabilize its finances.
Nazara Technologies Acquires UK-Based Curve Games
Nazara Technologies has acquired Curve Games, a UK-based console and PC game publisher, for ₹247 crore. This move strengthens Nazara’s international presence and gives it access to valuable IPs.
Ola Electric to Raise Funds Post-IPO
Ola Electric is planning to raise fresh funds through non-convertible debentures following challenges in maintaining market share and stock value. The decision will be discussed in a board meeting on May 22.
Euler Motors Raises ₹638 Crore Led by Hero MotoCorp
Electric commercial vehicle company Euler Motors raised ₹638 crore in a Series D round led by Hero MotoCorp. The funds will be used for scaling operations and launching new products.
Pixxel Investors See 17X Return
Early investors in Indian space-tech startup Pixxel, like GrowX Ventures, have seen a 17X return with a partial exit. Pixxel is known for its satellite imaging services across agriculture, energy, and environmental monitoring.
Elevation Capital Gets 25X Return from Ixigo
Venture capital firm Elevation Capital exited its stake in travel tech platform Ixigo with a 25X return, highlighting a trend of institutional investors cashing out from maturing startups.
UPI Offers 2–3% Cashback on Credit Card Transactions
A new UPI scheme is offering 2–3% cashback on payments made via credit cards. This move aims to encourage digital payments and bring back the popularity of earlier cashback offers.
Starlink Launches in Bangladesh at $35 Monthly
Elon Musk’s Starlink has officially launched in Bangladesh at $35 per month, with a one-time equipment cost of approximately ₹33,000. This competitive pricing may influence future launches in India.
Foxconn to Invest $1.5 Billion in India
Apple supplier Foxconn will invest $1.5 billion in India to expand iPhone manufacturing capabilities. This is part of a broader strategy to shift production from China to India.
US Banks Report $482 Billion in Unrealized Losses
US banks faced $482 billion in unrealized losses in Q4 2024, a 32.5% increase from the previous quarter, mainly due to rising treasury yields. The financial community is watching how this affects broader economic stability.