Vedanta has announced its plans to invest USD 1.7 billion in the current financial year to expand its business operations. Chairman Anil Agarwal shared this information in the company’s Annual Report for the financial year 2022-23. The company has already invested USD 1.2 billion in growth capital expenditure during the same period to enhance its […]
Vodafone Idea (Vi) has experienced an uptick in discussions with banks, promoters, and external investors to raise funds in recent weeks. Akshaya Moondra, the company’s CEO, revealed that these discussions have gained momentum following the implementation of most provisions of the telecom relief package. It may ne recalled that Vi has been grappling with financial […]
JSW Steel is entering into an equal joint venture with JFE Steel Corporation of Japan to manufacture grain-oriented steel sheets. These sheets find a use in the electrical industry. According to information, in Vijaynagar, Karnataka, where JSW runs a 12 million-tonne steel plant, the downstream facility will be built. The companies did not disclose the […]
XYXX, men’s premium innerwear and lifestyle brand has raised Rs 110 crore in series C finding round, led by Amazon Smbhav Venture Fund. According to an official statement that the brand continues to be backed in this round by all existing institutional investors including Sauce.vc, Anicut Capital, DSG Consumer Partners and Singularity Growth Opportunities Fund. […]
United Kingdom‐based SRAM & MRAM Group will invest USD 100 million in SpiceXpress and Logistics. Both sides have signed an MoU as part of the investment deal, SpiceJet said in an official statement. This move comes after SpiceJet successfully separated SpiceXpress into an independent entity as of 1 April 2023, paving the way for the […]
Thrive, an online food ordering platform that competes with Swiggy and Zomato, may soon see beverage producer Coca-Cola as a minority stakeholder, according to a recent media report. The investment could be Coca-Cola’s first in India, however the amount has not been announced. According to a leading media house, the strategic investment will give Coca-Cola […]
The IFC, which is the lending division of the World Bank, has announced plans to invest Rs 600 crore in the Mahindra Group’s electric mobility business, with the aim of expanding its offerings of inexpensive electric three-wheelers and small commercial vehicles.Mahindra Group announced the investment in NewCo, its new subsidiary, via a stock exchange filing. […]
The government on Thursday said that the food processing industry has invested Rs 4,900 crore so far under the production-linked incentive (PLI) scheme. The PLI scheme for the food processing industry was approved in March 2021, with a budget outlay of Rs 10,900 crore. It will be implemented for seven years, until 2026-27. “A total […]
