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IFC's first investment in an EV manufacturer in the country, and the first in electric three-wheelers globally, will be in the form of compulsory convertible instruments at a valuation of up to Rs 6,020 crore. The Rs 600 crore investment will result in an ownership of between 9.97 per cent to 13.64 per cent for IFC in NewCo.

In an intimation to the stock exchanges, RIL said RSBVL and Exyn have also entered into a Strategic Partnership Agreement for technology collaboration and commercialisation of Exyn's technology. Exyn is an early stage technology company, incorporated in Delaware, in 2014 with headquarters in Philadelphia, Pennsylvania.

In a letter to the Reliance Capital Administrator, RGIC has sought Rs 600 crore capital support from the RCAP by December 31, 2022. The Committee of Creditors (COC) is expected to consider and discuss RGIC's request for capital infusion in December 9 meeting.

​​​​​​​The repo rate, also called the policy rate, is the interest at which RBI lends money to the commercial banks. The RBI Governor Shaktikanta Das, heading the MPC, announced the rate hike and added that the battle against inflation was not over. With this the MPC has increased the repo rate by 225 points this fiscal.

The Sensex opened at 63,357.99 points reached a high of 63,583.07 points and a low of 63,357.99 points. On Wednesday, the Sensex had closed at 63,099.65 points. At the NSE, the Nifty opened at 18,871.95, touched a high of 18,874.30 points and a low of 18,842.05 points. It had closed at 18,758.35 points on Wednesday.

At the BSE, the NDTV scrip opened at Rs 447.70 (upper limit) after closing at Rs 426.40 on Tuesday. With the Adani group acquiring 99.5 per cent stake in RRPR Holding, the latter's original promoters Prannoy Roy and Radhika Roy resigned as Directors, the NDTV said on Tuesday. The company also said it was informed by the promoter group vehicle RRPR Holding that the latter's board approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as Directors with immediate effect.

Farmtech startups raised $1.5 billion across 140 deals, a 185 per cent year-over-year increase, according to the report by VC firms AgFunder and Omnivore. Restaurant marketplaces and e-grocery startups secured close to $3 billion, around 66 per cent, of the total investment. Deal activity also increased to 234 in FY2022 compared to 189 deals in FY2021. Downstream startups raised $3.8 billion, a 115 per cent increase from $1.77 billion in FY2021.

Of the total recipients, about 30 per cent were female service partners from the beauty and wellness vertical. Bengaluru had the highest number of partner shareholders with 26 per cent, followed by Delhi-NCR with 22 per cent, the company said in a statement. The company in March announced the PSOP programme for its service providers, where it will award stocks worth Rs 150 crore at near zero cost to thousands of service partners over the next 5-7 years.

The acquisition, said the company, will help it drive revenue growth to $200 million by FY24, of which 70 per cent is likely to come from global markets. "Through Fullstack Academy's wide-spread footprint in the US and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans," said Krishna Kumar, Founder and CEO, Simplilearn.

In his new role, Gupta will be responsible for all aspects of growth, operations and customer experience for the company in the country. "His diverse skillsets and seasoned leadership will play an instrumental role in continuing to scale the India business," said Greg Moran, CEO and Co-Founder of Zoomcar. In February this year, Bengaluru-headquartered Zoomcar had elevated Nirmal NR as the CEO for India market.