BUSINESS
Flipkart’s VP Smrithi Ravichandran set to join PE firm Multiples
Ravichandran will take up an investing role at the PE firm and oversee funding activity, source deals and double down on existing portfolio companies across sectors in her new role, sources told Moneycontrol.
BUSINESS
MC Interview: Had to take 'difficult call' to build stronger TCS, says CEO K Krithivasan after cutting 12,000 jobs
'It has not been an easy decision and one of the toughest I had to take', TCS CEO K Krithivasan said
BUSINESS
TCS to cut 2% of workforce, affecting 12,000 employees amid skill gap and tech shift
In an interview with Moneycontrol, TCS CEO K Krithivasan described the decision as one of the toughest he has faced, calling it a necessary step to build a stronger, future-ready company.
BUSINESS
SaaS firm MoEngage to raise $200 million from ChrysCapital, A91, Goldman Sachs
The round will be a mix of primary and secondary capital. While the primary component will go towards paying tax to flip back from the US to India, the secondary component will be used to buy shares from some of its early investors
BUSINESS
Nexus Venture Partners prepares to raise $700 million for its eighth fund
Nexus will continue to bet on new-age companies in the artificial intelligence (AI), software, fintech, and commerce markets, as it had planned with its seventh fund a couple of years ago.
BUSINESS
Fidelity Investments cuts 500 jobs in India amid global role shift
The investment firm currently employs around 7,000 people in its India GCC, and said it remains committed to maintaining that number.
BUSINESS
From legacy to liquidity: Why private equity firms are courting India’s family businesses
From bakery to baggage, private equity funds and family-owned businesses are shaking hands as Millennials/Gen Zs are choosing to forge their own path, and families are wanting a catalyst for their next phase of growth. An ageing crop of Promoters is also driving PE interest in traditional firms.
BUSINESS
Zoho will go big on vertical SaaS… market is ripe for disruption, says CEO Mani Vembu
Zoho’s goal is not to compete with general-purpose models like ChatGPT but to solve specific business needs through vertical-focused AI, Vembu has said
BUSINESS
LTIMindtree CEO Venu Lambu sees stronger growth ahead, expects profit margins to improve
Lambu hits that another mega deal is on the cards and will be closed soon. It could be even bigger than the $450-million deal in the June quarter
INFORMATION-TECHNOLOGY
Infosys replaces National Insurance with GoDigit to insure 3.2 lakh employees
Winning a mandate by one of the largest IT players in the country is a major deal for the company in the competitive enterprise insurance segment.
BUSINESS
Flipkart’s Kanchan Mishra to take over Mobiles business after VP Smrithi Ravichandran quits
With the new role, Mishra will become a key person at Flipkart as she will overlook the operations of up and coming Minutes, the quick commerce arm of Flipkart and Mobiles, a key revenue driver for the company.
BUSINESS
Eternal CEO-backed LAT Aerospace buys Bombardier private jet; Deepinder Goyal denies deal
Deepinder Goyal said LAT Aerospace is a startup focused on building planes for regional aviation and "has not bought any private jet." He added that the company is not in the business of buying planes.
BUSINESS
Sparrow Capital looks to raise Rs 400 crore in third fund
Its third fund, which will be finalised in the coming months, will allow Sparrow Capital to become a more competitive VC fund and bet more aggressively on high potential founders
BUSINESS
Uncertainty cannot last long, FY26 international business revenue will be better than FY25: TCS CEO K Krithivasan
Despite expecting decent growth in Q1 in the international markets, TCS saw project delays driven by the macroeconomic challenges that led to the negative growth, Krithivasan said.
BUSINESS
Zepto to raise $500 million from General Catalyst, Avenir and others in fresh round at $7 billion valuation
Apart from General Catalyst and Avenir Growth, it is also likely that one or two other investors, who specialise in public markets, may participate in the ongoing round, sources told Moneycontrol
BUSINESS
Sun TV family truce? Maran brothers may have settled dispute after mediation by Tamil Nadu CM MK Stalin
Sources say Tamil Nadu Chief Minister MK Stalin and Deputy Chief Minister Udayanidhi Stalin have brokered a peace deal between Sun TV group’s Kalanithi Maran and his brother Dayanidhi Maran.
BUSINESS
Meesho files DRHP confidentially to raise Rs 4,250 crore in primary capital
With this step, Meesho has moved another step closer to an IPO and also joins a growing list of new-age companies that are headed to Dalal Street.
BUSINESS
Narayana Murthy’s Catamaran eyes Amazon-like joint ventures in precision manufacturing
We're looking for a Y2K moment for precision manufacturing here in India, Ranganath MD, Chairman at Catamaran told Moneycontrol in an interview.
BUSINESS
Nykaa block deal: Banga family to sell nearly 2% stake worth $150 million
A total of 16 million shares in FSN E-commerce will change hands at a discount of 4-5 percent from July 2 levels.
BUSINESS
Future of services is hybrid: Former Cognizant CEO Francisco D’Souza says IT firms well-placed to modernise legacy systems
While AI will have a significant impact on services, large IT companies are unlikely to fully automate due to the complexity of legacy systems, D’Souza has said
TECHNOLOGY
I go to Silicon Valley, walk around to keep up with AI: Former Cognizant CEO D’Souza
In addition to conversations with founders and operators in innovation hubs like Silicon Valley, Seattle, and Austin, he also draws insights from his academic ties, says Francisco D’Souza
BUSINESS
Virat Kohli opens Agilitas innings with Rs 40-crore investment in first tranche
Kohli’s initial investment of Rs 40 crore is the first tranche of a larger round. He is set to invest more money personally and increase his involvement with Agilitas
BUSINESS
Lenskart to skip confidential route, file DRHP publicly by first fortnight of July
Bansal is also riding on the popularity of Lenskart, and his personal brand, built on the Indian edition of the show Shark Tank.
BUSINESS
Ashish Dave to step down as CEO of startup backer Mirae Asset Venture Investments
Mirae’s India team will continue to look after its investments in the country once CEO Dave moves on.
