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    Bengaluru transport officials go on snap drive, seize ‘unauthorised’ bike taxis

    Bengaluru authorities seized unauthorized, app-based bike taxis after auto drivers' protests, leading to tension. The Bike Taxi Welfare Association, citing High Court orders, opposed and sought police protection against harassment.

    POCSO Act case: Bengaluru court issues summons to Yediyurappa to appear on July 15

    Former CM B S Yediyurappa summoned to court in POCSO case alleging sexual assault on a minor. CID charge sheet accuses him of paying off victim and aides. Karnataka HC extends order preventing arrest. Legal proceedings continue as Yediyurappa denies allegations.

    Shadowfax announces AI-based address intelligence system SF Maps

    SF Maps aims to improve navigation for delivery partners, thereby assisting e-commerce platforms and Direct-to-Consumer (D2C) brands in reducing cancellations due to address inaccuracies on their platforms.

    Puravankara acquires a 7-acre land parcel in Hebbagodi, Bengaluru, with potential GDV of Rs. 900 Crore

    Real estate developer Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, for a luxury project, adding a potential GDV of over Rs 900 crore. With recent acquisitions in Mumbai, the group's total GDV is now Rs 1,550 crore. Strategically located near Electronics City, Hebbagodi is ideal for residential developments, catering to IT professionals. Puravankara plans to acquire 20 million sq ft of land by year-end for growth in Mumbai, Bangalore, and Delhi-NCR.

    Bengaluru Circular Rail Link project work starts. Key updates, routes and other details

    The 287-km Bengaluru Circular Rail Link aims to reduce congestion and enhance connectivity around the city's outskirts with a Rs 23,000 crore budget. The state government will cover land acquisition costs, while the Railways handle construction. The project, crucial for complementing the Bengaluru Suburban Rail Project, is progressing with the detailed project report for Devanahalli to Doddaballapur nearly complete.

    Sagility India files draft papers; seeks Sebi's nod to float IPO

    The company, in its draft papers filed on Friday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.

    • This Indian city sees third highest jump in prime residential property prices in the world: Report

      In Q1 2024, Mumbai led Indian cities with an 11.5% year-on-year increase in prime residential prices, ranking third globally in Knight Frank's Prime Global Cities Index. Delhi followed with a 10.5% rise, securing fifth place. Knight Frank attributed the surges to India's robust economic growth, with GDP exceeding 8% annually. 'Prime Global Cities Index' is a valuation-based index tracking the movement of prime residential prices across 46 cities worldwide.

      Concorde acquires 1.6 acre land in Bengaluru

      Concorde, a real estate developer based in Bengaluru, has purchased a 1.6-acre land parcel situated on Sarjapur Road in the city. This joint development project is slated to become a high-end residential complex with an estimated gross development value (GDV) of Rs 200 crore. Earlier in March, Concorde also acquired a 4.5-acre plot in Thanisandra, Bengaluru.

      HCG acquires Vizag based cancer hospital for enterprise valuation of Rs 414 crore

      HCG, India's leading cancer care chain, acquired a majority stake in Visakhapatnam's Mahatma Gandhi Cancer Hospital for Rs 414 crore. The deal begins with a 51% ownership, aiming to complete 85% in 18 months. The hospital's FY24 revenue was Rs 120.2 crore with an EBITDA of Rs 42.2 crore, expected to boost HCG's annual EBITDA by Rs 3 per share and consolidate its position in the Vizag region.

      Stanley Lifestyles high on luxury quotient, raises Rs 161 cr from anchors

      Private equity-backed Stanley Lifestyles, the fourth-largest player in India's home furniture market, is set to launch a ₹537 crore IPO. The company's revenues have more than doubled, and net profit has grown significantly in recent years.

      After fuel prices, Bengaluru to hike water tariffs? Karnataka Dy CM DK Shivakumar weighs in

      Karnataka Deputy CM DK Shivakumar addressed concerns over potential water tariff increases in Bengaluru, noting that rates have not been adjusted in a decade despite financial losses. He stressed the necessity for new projects and highlighted difficulties in obtaining financing from banks for the Bangalore Water Supply and Sewerage Board (BWSSB).

      Axiscades Technologies to supply drone systems to Indian Army under Rs 100 crore order

      Axiscades Technologies announces a Rs 100 crore order to deliver Man Portable Counter Drone Systems to the Indian Army. The system, capable of operating on battery and main power supply, can detect and jam various drones up to 5 kilometers away. The company plans to complete all deliveries by 2024. CEO Arun Krishnamurthi highlights the innovation in providing advanced security solutions to meet the armed forces' needs.

      Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore

      Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore through a block deal. Blackstone holds 55.45% in Mphasis. Mphasis specializes in cloud and digital solutions.

      Google cuts at least 100 jobs across its cloud unit: report

      Alphabet-owned Google is laying off at least 100 employees from several teams in its cloud unit, CNBC reported on Monday. Roles in sales, operations, engineering, consulting, and 'go to market' strategy were some of the positions cut.

      Kedaara-backed Ajax Engineering is said to plan India IPO

      ​The concrete equipment maker is planning its IPO in Mumbai in the fourth quarter, said sources A listing could value the company at $1.2 billion, and the company aims to file a prospectus for the share sale by August.

      Will decide based on SIT report, says CM on BJP's demand for sacking Minister over charges

      Karnataka CM Siddaramaiah has not sought resignation of Minister B Nagendra amid allegations of illegal money transfer from Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd. Decision to be based on SIT probe. Accounts superintendent Chandrashekhar P's suicide revealed unauthorized transfer of Rs 187 crore, involving corporation's MD J G Padmanabh.

      How Unacademy board tweaked targets for founders’ voting rights

      Edtech unicorn Unacademy has changed the target for its cofounders Gaurav Munjal and Hemesh Singh to access additional voting rights through bonus shares issued to them in 2022. Industry sources said this move throws light on Unacademy’s changing ambitions as well as the broader sluggishness in the startup funding ecosystem.

      Healthcare firm Enhanced Innovations launches portable solar cooling device for rural areas

      Enhanced Innovations' Phloton is an energy-agnostic device designed to improve efficiency of the delivery of medical supplies to the last mile.

      Karnataka HC upholds govt notification, caps service fee on app-based auto rides at 5%

      Justice Suraj Govindaraj, while dismissing the petitions from the app-based aggregators, said the platforms were entitled to collect 5% service charge over and above the base fare fixed.

      Pat Cummins equals Anil Kumble's record, has second-highest wickets by a skipper in IPL season

      Sunrisers Hyderabad (SRH) skipper Pat Cummins equaled Anil Kumble's record for the second-highest wickets by a captain in a single Indian Premier League (IPL) season, taking 17 wickets in IPL 2024. Cummins achieved this milestone by dismissing Rajasthan Royals' Tom Kohler-Cadmore in the IPL 2024 Qualifier 2 match. Shane Warne holds the record for the most wickets in an IPL season as a captain, with 19 wickets in 2008.

      Rameshwaram cafe in Hyderabad raided by food safety department; expired daal, curd found

      The Hyderabad Food Safety Department raided Rameshwaram Cafe for using expired and unlabeled food items. The violations included 100 kg of Urad Dal, 10 kg of Nandini Curd, and eight litres of milk found expired. Additionally, improperly labelled raw rice, white lobia, and unlabeled Jaggery were seized. The cafe, known for its South Indian breakfast, recently expanded its Quick Service Restaurant chain to Hyderabad. The raid is part of the department's efforts to ensure food safety and hygiene standards at eateries.

      Coforge launches QIP to fund acquisition

      The company in a filing with BSE said that the floor price for the issue is at ₹4,531.40 per equity share. In a recent interaction with ET, Sudhir Singh, the CEO, said that the company will shell out $220 - $250 million, (or about ₹1,826 crore - ₹2,081 crore) to acquire Hyderabad-based Cigniti Technologies even as the Noida-based IT firm launched an open offer to acquire an additional 26% stake in Cigniti. He had said that they would use QIP to acquire between 51% - 54% of the of Cigniti.

      Ananant Systems working with major local OEMs to develop BSNL’s 5G chip

      Bengaluru-based Ananant Systems is looking to address the expanding requirements for advanced connectivity, computing, and security for wireless 5G and 6G infrastructure and devices. Its offerings include intellectual property (IP), chip design, semiconductor products, software, and systems, all developed and owned in India.

      Nikhil Kamath, Manyavar family office may join A91 in Rare Rabbit’s Rs 500 crore funding

      Bootstrapped till now, Rare Rabbit clocked revenue of over Rs 600 crore in fiscal 2024, with an operating profit of more than Rs 100 crore, as per sources in the know. Along with Rare Rabbit, the brand's parent company Radhamani Textiles also owns women's premium fashion brand Rareism and everyday wear brand Articale.

      GOVO targets to be a Rs 1,000 crore company in FY28: CEO

      GOVO, led by Varun Poddar, targets Rs 1,000 crore by FY2027-28. Poddar disclosed a revenue of Rs 100 crore in FY2023-24, emphasizing growth strategies and customer-centric approach.

      Prestige Estates CEO resigns, co rejigs senior management

      Realty developer Prestige Estates has reorganized its senior management team in response to the resignation of its Chief Executive Officer (CEO), Venkata Narayana K, who is departing to establish a realty fund. Venkat took on the position of CEO at Prestige Estates in August 2017, following a 20-year tenure with the company during which he also served as Chief Financial Officer and Company Secretary.

      Virat Kohli, Anushka Sharma to score 263% return, Rs 7 crore profit with Go Digit IPO

      Go Digit IPO: The new-age insurance startup on Friday announced that its Rs 2,615 crore IPO, which will run from May 15-17, comes with a price band of Rs 258 to Rs 272 per share. The shares are already commanding a premium of around Rs 50 or 18% in the grey market

      KaleidEO joins select companies making imaging payloads

      Bengaluru-based startup KaleidEO Space Systems, owned by SatSure Analytics India, has joined the ranks of a select few Indian private companies. They achieved this by independently designing, developing, and successfully testing a high-resolution optical earth observation payload from the ground up.

      App-based delivery services transforming convenience with 'quick commerce'

      The rapid evolution of app-based delivery services has introduced a new era of convenience, with 'quick commerce' delivering items faster than ever before. These services are no longer limited to food but also function as quick couriers for a variety of goods. In a unique case, a job-seeker in Bengaluru used a delivery service to send his CV and cover letter, showcasing the innovative potential of these platforms. With such innovations, the possibilities for app-based services seem endless, promising seamless experiences and faster deliveries for consumers.

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