Adani Enterprises
Early-stage investment in India to grow as gaming, EVs & AI top picks: Report
The interest in early-stage startups is due to the fact that overall funding saw a drop in 2022 led by a drop in late-stage large deals, according to a report by Bain & Company. 2023 will likely see the emergence of a more resilient ecosystem as stakeholders remain cautiously optimistic. SaaS and fintech will remain significant while regulatory oversight may have some impact on Fintech,
BharatPe strongly denies out-of-court settlement talks with Ashneer
BharatPe filed a fraud case against Grover and his family in Delhi High Court for allegedly siphoning off Rs 88.6 crore, which is currently ongoing. In a statement to IANS, the company said that reports "suggesting any settlement between BharatPe and Mr Grover or his family are completely baseless and untrue".
SVB saga: Recur Club allocates $15 mn to fund payroll for affected Indian startups
To further bolster and support the ecosystem, Recur Club will not charge any platform fees. "This incident tells us about the criticality of diversification, be it customers, banking, or investors in a business. Recur Club has received interest from more than 100 startups regarding immediate Payroll financing and managing short-term expenses," said Eklavya Gupta co-Founder, Recur Club.
Global fintech investment nosedives in 2022, payments space shows top growth
Payments space remained the strongest fintech sub-sector globally, attracting $53.1 billion in total investment, according to KPMG's 'Pulse of Fintech H2-2022' report. The sharp drop-off in fintech investment between the first half of 2022 and the second half -- from $119.2 billion to $44.9 billion -- highlights the rapidly shifting market conditions much more clearly.
Adani Enterprises post net profit of Rs 820 cr in Q3, revenue up 42%
The company's revenue from operations surged 42 per cent to more than Rs 26,000 crore, while EBIDTA doubled year-on-year to Rs 1,968 crore. "Our fundamental strength lies in mega-scale infrastructure project execution capabilities, organisational development and exceptional O&M management skills comparable to the best in the world," said Adani group Chairman Gautam Adani.
Digital lending may pip traditional lending on unsecured loans by 2030
This will be driven by unsecured small-ticket size segment and the secured collateral-based high-ticket size market, according to the latest white paper by Experian India in collaboration with the Digital Lending Association of India (DLAI). As co-lending becomes the predominant operating model in India, more traditional lenders will collaborate with fintechs to reach.
Adani Enterprises Q3 net at Rs 820 crore
According to the company, it had earned a total income of Rs 26,950.83 crore for the quarter ended December 31, 2022 (Q3FY21 Rs 18,963.40 crore) and a net profit of Rs 820.06 crore (net loss of Rs 11.63 crore). For the nine month period Adani Enterprises' total income stood at Rs 106,458.72 crore (Rs 70,432.69 crore) and a net profit of Rs 1,750.46 crore (Rs 776.56 crore).
PhonePe raises extra $100 mn at $12 bn valuation
"We are privileged to have a great set of leading global investors, both existing and new, who believe in our mission of building massive technology platforms to bring at-scale financial and digital inclusion in India," Sameer Nigam, CEO and Founder of PhonePe.
Portion of Adani Group's capex is deferrable: Moody's
Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will impact the group's ability to raise capital. In a note issued on Friday, Moody's said the credit ratings for Adani Ports and Special Economic Zone Limited.
Former UK PM Boris Johnson's brother Lord Jo Johnson resigns as director of Adani-linked firm
Lord Johnson was appointed as a director in June of last year, but resigned on Wednesday, the same day that the Adani Group announced the withdrawal of its Follow-on Public Offer (FPO). Elara was one of the bookrunners on the FPO. Johnson explained that his resignation was due to a lack of "domain expertise".
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