Friday, April 26

Author: Press Trust of India

45 Indian entrepreneurs in Forbes list of achievers under the age of 30
News

45 Indian entrepreneurs in Forbes list of achievers under the age of 30

NEW YORK: Forty-five Indians and Indian-origin people have made it to Forbes' annual list of achievers under the age of 30 who are "changing the rules of the game or creating entirely new playbooks" across varied fields. The Forbes fifth annual '30 Under 30' list features 600 women and men, who are America's "most important young entrepreneurs, creative leaders and brightest stars" and are "changing the world" across 20 varied sectors such as consumer technology, education, media, manufacturing and industry, law and policy, social entrepreneurs, science and art and science. "In the past, youth was a handicap to professional success. Getting older meant more resources, more knowledge, more money. No more. Those who grew up in the tech age have way bigger ambitions -- perfectly suited to...
FIR Against Snapdeal For Flouting Maggi Ban
News

FIR Against Snapdeal For Flouting Maggi Ban

An FIR has been registered against the CEO and founder of an e-commerce major for allegedly selling popular Maggi noodles online during the ban period, in five Indian states. A case was registered yesterday against CEO of Snapdeal Kunal Bahl and its founder Rohit Bansal for online sale of Nestle's instant noodles in five states including Rajasthan during the period of ban between June 7 and October 30 last year, police said today. A complaint was yesterday lodged by Lalit Sharma, a Jaipur-based lawyer following which police registered an FIR under sections 420 (cheating), 120-B (criminal conspiracy), 272 (adulteration of food or drink intended for sale), 273 (sale of noxious food or drink) of the IPC and sections 59 and 63 of the Food Safety and Standards Act 2006. When contacted,...
Ratan Tata invests in pet care portal DogSpot.in
FUNDING

Ratan Tata invests in pet care portal DogSpot.in

New Delhi, Jan 4 (PTI) Top industrialist Ratan Tata has invested in pet care portal DogSpot.in, continuing the slew of investments he has made in various startups globally. However, the value of the investment was not disclosed. "Ratan Tata has invested an undisclosed amount in DogSpot.in. Ronnie Screwala also invested in this round along with a few new and existing investors," DogSpot.in co-founder and CEO Rana Atheya said. The other investors in this round include Ashok Mittal, Rishi Parti, Dheeraj Jain and Abhijeet Pai. "The investment by Mr Tata is an endorsement of the long-held belief by us and our investors that the Indian pet care sector is going through a phase of huge growth and transformation. DogSpot.in is poised to become an agent of this transformation," he said. Prev...
BUSINESS

Indian firms raised Rs 68,608 crore through equities in 2015

Indian firms mopped up over Rs 68,608 crore through the equity market route in 2015. This is 76 percent higher than Rs 39,067 crore raised through the equity market in 2014. Out of the total Rs 68,608 crore raised, fresh capital accounted for only Rs 25,964 crore, with the remaining Rs 42,644 crore coming from offers for sale. "The year could have been even better but for the deferment of several PSU offerings. The year, of course, fell short of Rs 97,746 crore, the highest amount which has ever been raised (in 2010)," Prime Database Managing Director Pranav Haldea said.     The highest-ever mobilisation through initial share sale plans was in 2010 at Rs 37,535 crore. In comparison, five IPOs had hit the capital market to garner just Rs 1,201 crore in 2014. The year 20...
Sandhar Technologies gets Sebi nod for IPO
BUSINESS

Sandhar Technologies gets Sebi nod for IPO

Automotive components firm Sandhar Technologies has received market regulator Sebi's approval to raise at least Rs 300 crore from an initial public offering. The company had filed the draft red herring prospectus (DRHP) with Sebi on September 29, seeking permission for an IPO. The Securities and Exchange Board of India (Sebi) has cleared the proposed initial share sale and gave its final observations on the IPO on December 21. The initial public offer (IPO) consists fresh issue of equity shares aggregating up to Rs 300 crore and offer for sale of up to 51.15 lakh shares by GTI Capital Beta at a face value of Rs 10 each. The funds garnered from the IPO will be used for setting up a new manufacturing facility at Hosur in Tamil Nadu, repayment/pre-payment, in full or part, of cert...
Indian Startups get $8.4 bn funding in 2015; Nearly 1k deals inked
FUNDING, News

Indian Startups get $8.4 bn funding in 2015; Nearly 1k deals inked

Making it a year of startups, Indian and foreign investors have pumped in a whopping USD 8.4 billion in new Indian startup ventures, including e-commerce platforms in 2015 through close to 1,000 deals, even as questions have begun to be asked about their hefty valuations. Those opening the purse for Indian start-up s included industry titans like Ratan Tata and N R Narayana Murthy as also marquee global investors like Alibaba and Softbank. According to data compiled by domestic technology and startup blog, as many as 936 deals worth over USD 8.4 billion have been inked this year -- up from 304 deals worth USD 5 billion that took place in 2014. The industry is looking at a promising 2016, though experts and even the investors anticipate correction on the valuation side. The sectors...
Indian Government Funding 5G Network Research
INDIA, News

Indian Government Funding 5G Network Research

The government is funding a research project on 5G technology being undertaken by Country's premier academic institutions with an outlay of Rs. 36.51 crores, Indian Parliament was informed today. "The Department of Electronics and IT is funding a collaborative research project on 5G being undertaken by premier academic institutions across the country", Communications and IT Minister of India Mr. Ravi Shankar Prasad said in a written reply to Lok Sabha.Communications and IT Minister of India Mr. Ravi Shankar Prasad said in a written reply to Lok Sabha. He further said the project was approved in September 2015 with an outlay of Rs 36.51 crore over a period of three years to be jointly implemented by IISc-Bangalore, IIT-Bombay, IIT-Hyderabad, IIT-Madras and Centre of Excellence in wireless...
Harbhajan Singh to invest in Sri Lanka
News

Harbhajan Singh to invest in Sri Lanka

Harbhajan met Finance Minister Ravi Karunanayake in his office and discussed investment opportunities in Sri Lanka. The star Indian spinner Harbhajan Singh is to invest in Sri Lanka, the Ministry of Finance announced on Wednesday. Harbhajan met Finance Minister Ravi Karunanayake in his office and discussed investment opportunities in Sri Lanka. The Ministry quoted Harbhajan as saying he was looking forward to invest in Sri Lanka given the long standing friendly relations between the two countries. Karunanayake had stressed that his 2016 budget approved in parliament early this week encourages foreign direct investment and Harbhajan's expression of interest was a justification of the budget policy goals on investment.
Vivo Invests Rs 125 Crore For Manufacturing Unit In India
News

Vivo Invests Rs 125 Crore For Manufacturing Unit In India

Betting big on the booming smartphone demand in the country, Chinese handset maker Vivo has set up a manufacturing and assembling facility in India with an investment of Rs 125 crore. Located at Greater Noida, the unit has a maximum production capacity of one million devices a month. "The unit will cater to the manufacturing and assembling of Located at Greater Noida, the unit has a maximum production capacity of one million devices a month. "The unit will cater to the manufacturing and assembling of vivo smartphones, creating more jobs and decreasing vivo's dependence on imports," the company said in a statement. The firm, which has been present in India for a year, has invested about Rs 125 crore as its first phase of investment in the 30,000 The firm, which has been present in Ind...
Order Dunkin Donuts burgers via Zomato
News

Order Dunkin Donuts burgers via Zomato

Zomato, the restaurant discovery and food ordering app, today announced a partnership with Dunkin' Donuts India, the country's first all-day part adult QSR. The partnership will allow consumers to order the newly launched 'Too Much Burgers' online on Zomato, the only platform offering this option. Dunkin's complete range of burgers, sandwiches, wraps and donuts will be available for online ordering. Through this partnership, Dunkin' Donuts will serve consumers from across 33 restaurants in Delhi NCR, Mumbai, and Bangalore out of total 67 restaurants nationally, using Zomato's online ordering services. Restaurants in more locations will be added shortly. "We're very pleased to announce the partnership with Zomato. This is the first time we will be delivering our burger range on any onli...
Facebook sets up SME Council in India
News

Facebook sets up SME Council in India

Social media giant Facebook, which has over two million Indian small and medium businesses (SMBs) on its platform, has set up a SME Council to help small ventures from various industries share feedback and discuss ideas around leveraging technology to grow their enterprise. This is the second SME Council set up by Facebook globally, the first one being in the US. Over 45 million small businesses actively use Facebook Pages to connect to their consumers. "Small businesses are the backbone of India's economy. From kirana stores to restaurants and online clothing sites, these businesses drive economic growth, create new jobs and enrich the lives of people across the country," Facebook India Managing Director Kirthiga Reddy told PTI. Facebook is focussed on helping people connect, i...
Housing.com to restructure business, will focus on buying and selling of apartments
News

Housing.com to restructure business, will focus on buying and selling of apartments

One of the biggest Online Realty portal in India, Housing.com will restructure its business to focus only on buying and selling of apartments, and also reduce its employee strength.   SoftBank backed-Housing.com, which was founded in 2012, provides independently verified listings of homes. It has presence in 50 cities with about 2,500 staff members. "The company is restructuring to focus on the home-buying real estate segment and drive further efficiencies across the company", Housing.com said in a statement. "Furthermore, Housing.com will be reorganizing its teams to more efficiently execute this new focused strategy and, as a result, will be reducing its employee base", it added. The company however did not specify the number of employees it would reduce. "Housing....