Paytm CEO VSS to purchase 10.30% stake from Antfin Holding📊
Paytm CEO VSS to purchase 10.30% stake from Antfin Holding📊
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Tech Updates
Nearly 40% drop in recruitment expected by IT majors in FY24
First-quarter earnings by India’s top IT companies hinted at a slowdown in India’s storied IT sector as macroeconomic factors hampered growth momentum.
Business-focused BNPL hits volatility with margin squeeze
Business-focused pay later platforms have also faced their own growth challenges with rising interest rates, a changing regulatory environment, and online wholesale marketplaces looking at efficiencies and sustainability.
Experts flag revised data bill’s silence on generative AI tools
As deep fakes created by gen AI tools become more rampant, several experts flagged the need for the DPDP to address this.
Delhivery expects to turn in net profit by FY 2025: CEO Sahil Barua
New-age logistics firm Delhivery is expected to break even on an adjusted EBITDA level during the current financial year, co-founder and chief executive Sahil Barua said in a post-earnings call on Saturday.
SoftBank may turn a profit after $48 billion in Vision Fund losses
SoftBank Group Corp.’s Vision Fund is likely to return to profitability after five quarters of losses, thanks to an artificial-intelligence-fueled rebound that’s lifting startup valuations.
Paytm CEO Vijay Shekhar Sharma to purchase 10.30% stake from Antfin Holding
Paytm founder Vijay Shekhar Sharma to purchase a 10.30% stake in the company from Antfin (Netherlands) Holding BV. Antfin will transfer 6.53 crore shares of Paytm to Resilient Asset Management B.V., an entity in which Sharma owns the complete 100% stake.
SBI to sell distressed loan accounts, including those backed by Anil Ambani, worth ₹96,000 crore: Report
State Bank of India (SBI) is taking measures to clean its books by selling distressed loan accounts worth more than ₹96,000 crore to asset reconstruction companies (ARCs).
Funding Deals
Disprz, the Chennai-headquartered corporate learning and skilling SaaS startup, has raised $30 million in a Series C funding round led by Lumos Capital and 360 ONE Asset.
Fintech startup EMTECH Solutions has raised $4 million in a new round led by Matrix Partners India, with participation from global investors like BTN, VestedWorld, Equity Alliance and Lofty Inc.
Bengaluru-based growth stage investor Elev8 Venture Partners (Elev8) has announced its first close at $67 million of Elev8-Capital Fund 1 (Fund).
Tweet of the day🐥
“Virtually nothing is impossible in this world if you just put your mind to it and maintain a positive attitude.”
- Lou Holtz
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