J.C. Flowers & Co. LLC (J.C. Flowers), a private investment firm dedicated to investing globally in the financial services industry, announced that the J.C. Flowers Asset Reconstruction Company (the ARC) has completed the purchase of a pool of nonperforming assets (NPAs) with a principal balance of 480 billion rupee (approximately $6 billion) from YES BANK, a Mumbai, India based bank.…
Melorra, a leading D2C brand, has on boarded Nirdosh Chouhan, ex-OYO Senior President as their Chief Technology officer, to oversee operations and be a part of the company’s future prospects. With this appointment, Melorra plans to scale its existing model and explore newer technologies, a statement said. Nirdosh Chouhan is an aspiring leader in software engineering with…
Mumbai-based agritech startup Grow Indigo has raised over $6 million in the recent funding round, according to ET Bureau report. The round saw interest from investors globally including participation from Indigo AG, Mahyco and HNIs. “Grow Indigo has conceptualized the concept of farming carbon as a crop for small holder farmers in India. When implemented…
The Wadhwani Foundation announced the appointment of Meetul Patel to the key position of President – Wadhwani Entrepreneur. Meetul will head the Wadhwani Foundation’s initiatives focused on building entrepreneurship ecosystems and accelerating the growth of small businesses, a statement said. This is a strategic appointment in line with the Foundation’s growing global footprint across Asia, Africa and Latin…
Jet Freight, a multimodal logistics service provider, announced the employment generation of 100 skilled logistics professional as a strategic plan for expanding the business vertical. The jobs offered are in operations, sales, and pricing profiles. Jet Freight is also expanding its wings to new regions in the country like Goa, Lucknow, and Jaipur, apart from…
WNS (Holdings) Limited, a provider of global Business Process Management (BPM) solutions, announced it has acquired The Smart Cube, a leader in platform-driven research and analytics (R&A) focused on procurement and supply chain, and OptiBuy, a European provider of procurement platform consulting and implementation solutions. Founded in 2003 and headquartered in London, UK, The Smart Cube provides…
TRF Limited, a Tata group company engaged in bulk material handling, announced the appointment of Sanjib Nanda as an Additional Director in the category of Non-Executive Non-Independent Director on the company’s Board, with effect from December 17, 2022. According to the company’s exchange filing, “the Board of Directors (‘Board’) of TRF Limited (‘the Company’) has…
Larsen & Toubro, signed an agreement to divest its 51% stake in L&T Infrastructure Development Projects Limited (L&T IDPL) to a portfolio company of Infrastructure Yield Plus II, an infrastructure fund managed by Edelweiss Alternatives. With this, L&T will divest its entire stake in the concession subsidiary, L&T IDPL. This is in line with L&T’s…
Piramal Capital & Housing Finance Ltd., herein referred to as Piramal Finance, the wholly owned subsidiary of Piramal Enterprises Ltd (PEL), announced the opening of their ‘Piramal Innovation Lab’ at Bengaluru. The new state-of the art centre will complement and support Piramal Group’s commitment to innovation and growth, a statement said. The ‘Piramal Innovation Lab’…
Infrastructure Yield Plus strategy, managed by Edelweiss Alternatives, has signed definitive agreements with Larsen & Toubro Limited (L&T) and Canada Pension Plan Investment Board (CPP Investments) to acquire 100% equity stake in L&T Infrastructure Development Projects Limited (L&T IDPL). The proposed acquisition will be for an enterprise value of approximately INR 6,000 cr, along with…
Mastek, a digital engineering & cloud transformation service provider, announced that it has made a strategic investment in VolteoEdge, a SaaS company with an enterprise-ready Edge Intelligence Platform that enables secure IoT workflows and makes business workflows smarter. The investment demonstrates Mastek’s commitment to harness the benefits of Data, AI and IoT technologies and empower…
Zee Media Corporation Limited announced the appointment of Purushottam Vaishnava as an Additional Director on the company’s Board, with effect from December 19, 2022. According to the company’s exchange filing, “the Board of Directors of the Company, at their meeting held today, i.e. December 16, 2022, has inter-alia, appointed Mr. Purushottam Vaishnava (DIN: 01958304), as…
Teachmint, an education infrastructure provider, announced the appointment of Abhinav Srivastava as their General Counsel. With 12+ years of experience across India and APAC, Abhinav brings a record of success in developing and implementing the full scope of legal matters and regulatory compliance and will bring his vast sectoral expertise to lead Teachmint’s legal charter,…
Altus Group Limited (Altus), a market leading Intelligence as a Service provider to the global commercial real estate industry, announced the appointment of Pawan Chhabra as Chief Financial Officer (CFO), effective January 1, 2023. Pawan brings over 25 years of financial experience from publicly traded global technology companies. With a deep background in SaaS industry…
Accenture has made a strategic investment through Accenture Ventures in Mobeus, a technology company pioneering immersive experiences through transparent computing. Headquartered in New Jersey, Mobeus Industries, Inc. is developing frictionless technology to enhance how people connect and communicate, a statement said. Mobeus was founded during the COVID-19 pandemic, accelerating the need for remote, on-demand meetings. With businesses and employees…