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Adani takes on Ambani⚡
Dream11 turns a profit, Mobikwik reserves 7% of its equity and more.
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Adani takes on Mukesh Ambani, to invest $20 bn in renewable energy☀
Billionaire Gautam Adani unveiled his infrastructure conglomerate's green vision on Tuesday, saying his company will invest USD 20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron.
The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, and power all data centers with renewable energy.
The announcement came weeks after India's richest man Mukesh Ambani announced an investment of ₹75,000 crores (USD 10 billion) in clean power and hydrogen fuel over three years.
Dream11’s revenue crosses Rs 2,000 Cr in FY20 with Rs 181 Cr in profits💸
Dream11 is perhaps the only unicorn in the consumer internet space in India with a hefty profit. Dream Sports, which operates fantasy gaming platform Dream11 posted Rs 180.8 crore of profit in the financial year ending 2020, according to its regulatory filings. This is a massive jump from its Rs 87.8 crore loss during FY19.
The company also saw a 2.67X increase in its revenue from operations which grew to Rs 2,070.4 crore in FY20 from Rs 775.5 crore in FY19.
Dream11 has over 9 crore active users who play fantasy cricket, football, kabaddi, and hockey.
Dream11 spent Rs 1,328.02 Cr on advertising & promotion.
WinZO, a regional language social gaming platform, has announced a $20 million fund for the Indian game developer ecosystem.
Wow! Momo Foods has raised around $17 million, led by Tree Line Investment Management, at a valuation of Rs 1,225 crore.
Infra.Market, the Tiger Global-backed marketplace for construction materials, has acquired RDC Concrete from private equity firm True North.
IPO-bound Mobikwik reserves 7% of its equity for employee stock options🤗
Digital payment company Mobikwik said today that it has reserved 4.5 million shares or 7% of its equity for its employee stock option plans (Esop) for its impending initial public offering (IPO).
Employee stock options are a type of benefit granted by companies. They give employees the right to buy the company's stock at a specified price for a finite period of time.
Mobikwik claimed seven of its employees had stock options worth more than Rs 10 crore, 31 had more than Rs 1 crore each, and 118 employees, or one-fourth of the total, had more than Rs 10 lakh each.
The firm plans to raise Rs 1,900 crore ($255 million) in its IPO, scheduled for later this year.
Tweet of the day🐥
✅ Amazon vows 'zero tolerance' for corruption after a report on India probe.
✅ Flipkart to hold flagship sale from Oct 7 to 12.
Do not use your energy to worry. Use your energy to believe, to create, to learn, to think and to grow.
-Prof. Richard Feynman
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