Network-as-a-service (NaaS) provider CloudExtel Wednesday announced it has secured its first external debt funding of Rs 200 crore, that will go into expanding its network of small cells and fiber optics.The telecom infrastructure provider has also received an A- credit rating from CARE Ratings.The debt funding comes after CloudExtel secured equity investments from Macquarie Capital and Advencap in FY24.The company said the capital infusion is a testament to the scalability and viability of...
Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Contractual hiring picks up in IT■ ETtech Done Deals■ World Bank on DPI adoption PhonePe poured bulk of past year’s investments into insurance biz 109546396Walmart-owned fintech giant PhonePe has invested over Rs 800 crore in its subsidiaries during the last year to grow...
Direct-to-consumer snacks and instant foods maker Adukale has secured Rs 11 crore in a funding round led by venture fund Force Ventures. The funds will primarily be used for expansion of the company’s offline presence, its chief growth officer, Vinay Gopinath, told ET.Adukale, founded in 2009, sells a variety of snacks and instant food ingredients for dishes like dosa, idli and poha. With the latest funding round, the firm has raised more than Rs 16 crore.Chief executive Bharat Kaushik said the...
Walmart-owned PhonePe has invested over Rs 800 crore in its subsidiaries during the last year to grow businesses ranging from insurance broking to wealth management and hyperlocal ecommerce, regulatory filings show. More than half of this, or Rs 426 crore, went to PhonePe Insurance Broking Services — a clear indication of the payment firm’s intention to build a large retail cover distribution business.PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since...
India's fourth largest IT services firm, Wipro, on Friday reported a fall in net profit and revenue from a year earlier in the fiscal fourth quarter, hurt by a contraction in clients' technology spending in key growth verticals and regions.The Bengaluru-based company posted a net profit of Rs 2,834.6 crore for the quarter through March, 7.8% lower than a year earlier. Revenue fell 4.2% to Rs 22,208 crore. On a sequential basis, profit increased 5.2%, while revenue was flat. In constant currency,...
An affluent Jain couple from Gujarat has donated nearly Rs 200 crore and adopted monkhood, and now plans to set out on a journey for salvation.
Bengaluru: Tech-to-tractor conglomerate Mahindra Group will invest 12 billion rupees (about $144 million) to set up solar and wind energy projects of 150 megawatt (MW) hybrid capacity in India, it said on Monday.
.The projects will be developed by the group's renewable energy unit Mahindra Susten with Ontario Teachers' Pension Plan Board, one of Canada's largest pension funds, as its strategic partner.
.Mahindra & Mahindra will also acquire a 26% stake in its solar power...
The highly energetic, whistle-worthy teaser of Pushpa 2: The Rule dropped
Janasena founder and actor Pawan Kalyan has declared that his family has assets, both movable and immovable, worth Rs 164.53 crore even as his income for the last four years stood at nearly Rs 60 crore.
Following an impressive Q4FY24 performance, HDFC Bank announced an ex-gratia payment of around Rs 1,500 crore to its staff. The bank’s decision came as a gesture of appreciation for the employees’ dedication during the merger with HDFC Ltd as well as address attrition, said Sashidhar Jagdishan, the managing director & chief executive of the largest private sector lender.The lender, which announced its January-March earnings on Saturday, reported a 37.1 per cent growth in net profit, boosted by a...
Paediatric behavioural and developmental health platform Butterfly Learnings on Thursday announced that it completed a series A funding round raising Rs 32 crore.Insitor Impact Asia Fund II and Enzia Ventures led the funding. Other participants included CIIE (IIMA Ventures), Foundation Botnar, 9 Unicorns, and Venture Catalysts.The company plans to use the funds to “extend its reach across multiple states and cities in India through a 200-center network,” it said in a statement. It currently has...
Investors' wealth climbed Rs 2.27 lakh crore on Wednesday as the benchmark Sensex closed above the 75,000 mark for the first time.