SAMEER GUPTA
Boat's parent brand Imagine Marketing India in talks with investors to raise funds
Imagine Marketing's IPO plans were shelved in 2022. CEO Sameer Mehta said the company has no pressing need of capital and hence is not doing any roadshows to raise funds. “However, there are some inbound interests from a large global fund, sovereign fund and one strategic investor. It’s still early days and we are not desperate,” he said.
CGBSE Class 12 Toppers List: Check Chhattisgarh Board 12th merit list, marks, school name and other details here
The Chhattisgarh Board of Secondary Education (CGBSE) announced the class 12th Board exam results for 2024 today, May 9, 2024. Top performers include Mahek Agrawal and Kopal Ambastha with 97.40% and 97.00%, respectively. Preeti and Ayushi Gupta achieved 96.80%, while Sameer Kumar scored 96.60%. The overall pass rate is 80.74%, with girls outperforming boys. Students can check results on cgbse.nic.in, results.cg.nic.in, or cg.results.nic.in.
MakeMyTrip's Deep Kalra, Den Network's Sameer Manchanda and Assago's Ashish Gurnani now own apartments at Gurgaon's The Camellias by DLF
The Camellias, launched less than a decade ago at Rs 22,500 per square foot, are currently selling at Rs 60,000-95,000 per square foot, depending on the floor and the interior work done by the seller. Simply put, a 7,400 square feet apartment bought bare shell in 2014 for Rs 16 crore is now nearly three times as much at Rs 45 crore.
Exclusive: WeWork Inc to sell entire stake in India unit
US office sharing company WeWork is selling its 27% stake in the India unit via a secondary deal. We have this evening scoop and more in today’s ETtech Top 5.
Nexus MD Sameer Brij Verma quits; will launch multi-stage fund
The fund will likely be $150-200 million in size, Verma will be a solo partner with a team of around a dozen executives.
National Creators Award: Meet Aman Gupta who got Celebrity Creator of the Year award
Prime Minister Narendra Modi presented the National Creators Award to acknowledge excellence across various domains. Aman Gupta, the co-founder and CMO of Boat, received the Celebrity Creator of the Year award.
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Prosus may have promoter tag in Swiggy’s $1 billion IPO
While Swiggy prepares to file its IPO papers, New Delhi-based wearables and audio accessory brand Boat is likely to reconsider its plan to make an IPO in 2024, people in the know of its plans said. In 2022, it had withdrawn its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India citing market conditions.
PhonePe appoints Ritesh Pai as CEO of international payments business
Prior to this, Pai was working with cross-border payments firm Terrapay and was based in Dubai. At TerraPay, Pai was responsible for launching and implementing its payment products and solutions globally.
PhonePe crosses 500 million registered users, alters top deck
The digital payments major has elevated a bunch of its business heads to the position of CEO for each of the business verticals
Deutsche Bank seeks to boost Asia financing unit with new roles
Deutsche Bank AG is seeking to bolster its financing business in Asia and is creating new roles in its efforts to boost revenue in the region. Deutsche Bank is also working with a search firm to hire more people for financing roles in the region, the news agency reported citing sources
In the next 10 years, truly world-class companies will emerge out of India, says boAt co-founder
"While there may be short-term challenges for entrepreneurs in India, such as funding difficulties and a focus on profitability, the long-term outlook is promising. Budding entrepreneurs must have a clear vision, be detail-oriented, and persevere in order to build scalable and successful companies. Despite the current funding winter, funding opportunities still exist for the right companies. "
India solar firm plans $3 billion move into a sector where Ambani, Adani want to show their power
Indian solar module maker Jakson Group aims to expand into power generation with 5 GW of power capacity by 2030. The generation plans will allow Jakson to tap into the entire value chain of the business. The company manufactures modules and executes turnkey contracts to build renewable energy projects. Jakson plans to double its module-making capacity to 1.2 GW in the coming months and is exploring another location for a 1 GW cells-to-module facility.
Discretionary demand on the mend in June-July; cos see full recovery in second half of fiscal year
Companies in India's discretionary consumption sectors, including electronics and retail, have reported a recovery in sales volumes since June on a year-on-year basis, which further improved in July. This could be attributed to eased inflation and a stronger manufacturing industry since April and May.
Exclusive: Internet companies mail dissent note against IAMAI’s stand on digital competition bill
Internet and Mobile Association of India (IAMAI) had submitted its views to the CDCL opposing the prescription of ex-ante regulations for digital companies, saying that ex-ante measures “may limit growth not only of the market in question but the digital economy altogether”.
Clarity needed on TCS levy on credit card payments, distinction between biz/personal visits: Tax experts
EY India, National Tax Leader, Sameer Gupta said since the object of the increase in TCS rate on LRS transactions is to address cases of disproportionate remittances as compared to disclosed incomes, a nuanced course would have been to apply a higher TCS rate to non-filers rather than across the board to all remitters.
'Mrs Chatterjee Vs Norway' Box office Collection: Rani Mukerji starrer struggles at box office despite powerful storyline and talented cast
Rani Mukerji's film, 'Mrs Chatterjee Vs Norway', which is based on the true story of an Indian couple whose children were taken away by Norwegian authorities in 2011, is struggling at the box office. After completing 12 days in theaters, the movie has crossed Rs 15 crore mark.
HC sets aside BJP MLA Vijender Gupta's suspension, permits to attend Delhi assembly budget session
"A perusal of the summary of proceedings (of assembly) shows that there was disturbance caused during the sitting of the House both by the petitioner, as also by ruling party members. There is no gainsaying that the Members of the Legislative Assembly or any other elected House have to maintain dignity of the House in order to play a positive role owing to the mandate of the people," the court said, adding that "the petitioner shall also maintain the dignity of the House".
2022 Year in Review | The Ashneer Grover-BharatPe saga
On February 23, BharatPe sacked Madhuri Jain, the company’s financial controller and Grover’s wife, on charges of misappropriating funds. Jain had been in charge of BharatPe’s finances since October 2018.
KBC 14's question leaves boAt’s co-founder Aman Gupta stunned. Here’s why
Shark Tank India's Aman Gupta shared a screenshot of a question asked on Kaun Banega Crorepati about the company boAt and displayed his great happiness and pride. He made heartfelt remarks on social media.
The story so far: How the 'shark' Ashneer Grover at BharatPe tanked
It all started when an audio clip surfaced on social media platform Twitter, where Grover was allegedly heard threatening and abusing a Kotak Mahindra Bank employee over an IPO financing for Nykaa IPO which didn’t come through.
Ashneer Grover seeks removal of CEO Suhail Sameer from BharatPe's board
Suhail Sameer, who was hired by Ashneer Grover in 2020, was made chief executive of BharatePe in August 2021. Grover had assumed the role of managing director around the same time.
Grover guns for BharatPe CEO; no tax breaks for Tesla
Ashneer Grover, the embattled founder and managing director of BharatPe, has asked the company’s board members to remove CEO Suhail Sameer from the board.
Boat set to float Rs 2,000-crore IPO, eyes $1.5-2 billion valuation
Warburg Pincus, the single largest shareholder with around 36% stake, will divest shares worth Rs 700-800 crore in the Boat IPO, likely to be an equal mix of fresh stock and an offer for sale.
A tale of two CEOs: BharatPe & WhiteHat Jr
BharatPe has become a unicorn and appointed Suhail Sameer as CEO. WhiteHat Jr founder Karan Bajaj has exited the firm, a year after acquisition by Byju’s. TCS, Infosys, Wipro and HCL Technologies are looking to step up hiring of women.
Jakson Group eyes Rs 1000-crore revenue from solar biz in FY17
Jakson Group is eyeing Rs 2,500 crore revenue in financial year 2016-17, out of which it expects solar business to contribute around Rs 1,000 crore.
Tax worries shape merger and acquisition negotiations between strategic buyers and seller
PE funds and strategic buyers are asking for indemnity bond or insurance from the seller to cover a tax demand that may emerge in the future.
Anil Ambani led Reliance Power to invest $3 billion in setting up Bangladesh power plant
Reliance Power will set up a 2 million tonnes a year floating LNG import terminal as well as 3,000 megawatt power plant.
Power solutions provider Jakson Group to have Rs 2,700 crore turnover by 2017
Jakson group is also aiming to produce 100 MW solar power in 2-3 years as an independent power producer with an investment of Rs 700 cr
Wind, solar energy to get big push under Narendra Modi-led NDA
The new government is also expected to reinstate accelerated depreciation for investments into wind energy projects.
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