City Mumbai Financial News

Rebel Foods, a startup that specializes in online-only restaurants, unveiled a $210 million funding round, ahead of an initial public offering the company is seeking to pull off by 2026. Singapore’s Temasek Holdings Pte led the fundraising, while Evolvence, an existing investor, will also participate, the company said in a statement. The Series G round includes the sale of new and existing stock, allowing current shareholders to sell some of their holdings. The Mumbai-based company is now valued at $1.4 billion.

Subscribe to enjoy similar stories. The JSW Group, which has the largest steelmaking capacity in India, is exploring entry into making other metals, including copper and aluminium, JSW Steel chief executive officer Jayant Acharya said. The steel-to-auto conglomerate has already engaged consultants to explore the financial feasibility of such an expansion, said Acharya, who is also the company's joint MD.

Subscribe to enjoy similar stories. As Artificial intelligence (AI) gains currency as a tool to help businesses improve their operations, India's mid-sized software service providers are jumping at the opportunities the new technology promises.

National Company Law Tribunal (NCLT) of Mumbai has approved Reliance Strategic Business Ventures Limited’s Rs 202 crore resolution plan for Karkinos Healthcare Pvt. Ltd. (KHPL), a tech-driven oncology platform, which was undergoing insolvency proceedings. The Mumbai Bench gave its nod on December 9, 2024, following approval from 100% of committee of creditors (CoC). KHPL entered the Corporate Insolvency Resolution Process (CIRP) on May 21, 2024. The approved plan provides for 100% recovery of dues across all creditor classes, including financial creditors, employees, and suppliers.

Subscribe to enjoy similar stories. Large Language Models (LLMs), which are foundational for many applications of artificial intelligence (AI), such as chatbots, have unparalleled capacity to store and analyse virtually all published knowledge—ranging from scholarly books and professional articles to the unfiltered opinions of billions of people.

Sapna Singh, known for her work in TV shows like Crime Patrol and Mati Ki Banno, staged a protest in Bareilly after her 14-year-old son, Sagar Gangwar, was found dead under suspicious circumstances. On Wednesday, police arrested two of Sagar's friends, identified as Anuj and Sunny, on charges of murder. «The postmortem report could not confirm the exact cause of death, but indications of poisoning or drug overdose have been found. Viscera samples have been preserved for further examination,» Circle Officer (Faridpur) Ashutosh Shivam told PTI. «Anuj and Sunny confessed during questioning that they had consumed drugs and alcohol with Sagar. The overdose caused Sagar to collapse. Panicking, they dragged his body to a field and left him there,» Inspector Sunil Kumar from Bhuta Police Station added.

Bengaluru Rising report, released by the UnboxingBLR Foundation during the Bengaluru Tech Summit, highlighted the city’s economic growth, lifestyle advantages and global appeal. Bengaluru has positioned itself as an economic powerhouse, ranking third in company formations after Mumbai and Delhi, with over 27,000 new companies registered between 2012 and 2023. It has also added 80 million square feet of Grade A office space, generating 800,000 jobs—the highest among Indian cities. In the startup ecosystem, Bengaluru remains unmatched. On average, the city has seen 1,400 startups emerge annually over the last decade, trailing only Delhi NCR’s 2,100 yearly average. It also leads the nation in startup funding and the creation of unicorns, reinforcing its reputation as India’s entrepreneurial hub in addition to being its own Silicon Valley. But it seems Bengaluru is getting saturated with its phenomenal growth. Though it may seem nearly impossible to build another Bengaluru in India, a lot of mini Bengalurus can sprout across the country in coming years.

Subscribe to enjoy similar stories. No harsh contours, no strong lip lines or sharp eye shadows—it seems the celebrity bride of 2024 followed the “very demure, very mindful" trend when it came to make-up looks. Whether it was Aditi Rao Hydari, Sonakshi Sinha, Rakul Preet Singh, Shobita Dhulipala, Shweta Kapur or Radhika Merchant, many A-listers who got married this year went for a soft, ethereal make-up look.

I have a corpus of Rs 15 lakh after surrendering my LIC policy. I want to invest this amount for the goal of my daughter’s higher education. I have an investment horizon of four to five years. I would like to build a minimum of Rs 25 lakh corpus. Could you suggest some mutual funds? Can I invest some amount in mid- or small-cap funds for better returns? Dev Ashish Founder, StableInvestor, and Sebi-registered investment adviser: With a starting capital of Rs 15 lakh, your investment needs to earn 10.8-13.6% to reach the target of Rs 25 lakh in four to five years.

MUMBAI: Last week, a man attacked a bank manager in Gujarat over the tax deduction on his fixed deposit interest. A video of the incident has gone viral on social media platforms, with netizens lamenting the customer's unruly behaviour as well as the country's tax system.

Subscribe to enjoy similar stories. MUMBAI : Even as one group of National Spot Exchange Ltd (NSEL) investors withdrew consent for the proposed one-time settlement (OTS) with 63 Moons Technologies Ltd, another group has claimed substantial support to see the much-awaited resolution through. The NSEL Investor Action Group (NIAG), which withdrew the consent after an emergency meeting on 6 December, accused 63 Moons of violating the foundation of the settlement talks by seeking permission to access ₹300 crore from attached assets without consulting the group.

Subscribe to enjoy similar stories. MUMBAI : Mintifi Finserve, a supply-chain financing startup, secured $180 million in a Series E funding round on 10 December, led by Teachers’ Venture Growth, the late-stage investment arm of Ontario Teachers’ Pension Plan (OTPP), and global investor Prosus. Existing backer Premji Invest also participated in the round, which comprised both primary and secondary transactions.

Subscribe to enjoy similar stories. Yardena Kurulkar’s current exhibition, The Body in Agreement, at Chemould Prescott Road, Mumbai, is an attempt to further her ongoing personal examination into the human body and its relationship with nature. After her initial training in ceramics, the artist’s practice has been multidisciplinary and is expressed here through multi-layered etchings, video projections, 3D printed works, composite sculptures made of clay, brass and wood, and more.

Subscribe to enjoy similar stories. Mumbai: Shaktikanta Das will step down as the 25th governor of Reserve Bank of India (RBI) on Tuesday, at a time when the war on inflation is ongoing and economic growth has taken a sudden slow turn. Union ministers Nirmala Sitharaman (finance) and Piyush Goyal (commerce and industry) had called for rate cuts after GDP growth slowed to 5.4% in the July-September quarter.

Subscribe to enjoy similar stories. Bengaluru: Ankita Vashistha, founder and managing partner of venture capital firm Arise Ventures, had a disappointing experience with Bengaluru-based home interior company Livspace when she hired it to design a rented-out home three-four years ago. While she initially admired the concept and the experience centres, the whole process and the final outcome left her disappointed.

stocks rallied as much as 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Indo Asia Fin(20.00%), The Phosphate Co.(20.00%), Sundaram Brake(20.00%), Indo Us Bio-Tech(19.99%), Orbit Exports(19.99%), Ind Swift Ltd(19.99%), Rajdarshan Ind(19.98%), Apoorva Leasing Finance(19.98%), Mahalaxmi Rub(19.98%) and AdityaBirlaMoney(19.97%).

Tata Motors on Monday said it will hike the price of its passenger vehicle portfolio, including electric vehicles, by up to 3 per cent from January next year. The price hike is being undertaken to partially offset the rise in input costs and inflation, the Mumbai-based auto major said in a statement. «Effective January 2025, the price increase will vary depending on model and variant,» it added. Already, various carmakers, including Maruti Suzuki, Hyundai, Mahindra and JSW MG Motor, have announced to hike vehicle prices from the next month.

Marathi-speaking people in Belagavi in Karnataka, demanding that the region be declared a Union Territory. Talking to reporters in Mumbai, Thackeray said while celebrations are underway over the formation of the new government in Maharashtra, the situation was deteriorating in Belagavi in the neighbouring state. As the winter session of the Karnataka assembly begins on Monday, members of the Maharashtra Ekikaran Samiti are opposing it. The outfit organised a congregation in Belagavi, but the Karnataka government allegedly prohibited the gathering and banned leaders from Maharashtra from entering the state. «Marathi-speaking people in Belagavi are being suppressed. Since yesterday, the situation has been deteriorating in the region. Our party workers are being detained. The previous 'unconstitutional' chief minister had promised that they would give extra funds to the Marathi-speaking people living in the disputed territory. What happened to that assurance?» the MLA asked.

Trump started his first campaign for the presidency, two Trump-branded buildings were going up in India, one in the financial capital of Mumbai and the other nearby in Pune. Before he won in 2016, the Trump Organization expanded its business in India, signing deals in two more big cities. The day after Trump's victory in November, a developer in India told local media about half a dozen new deals. Like the others, Indian companies buy the land, build the high-rises, sell the units and pay a fee to use the Trump name. These deals are putting India even more squarely in the Trump Organization's sights. And with Trump on his way back to the White House, the country is emerging as center stage for potential conflicts of interest.

buy call on Lemon Tree Hotels with a target price of Rs 164. The current market price of Lemon Tree Hotels Ltd. is Rs 136.65. Lemon Tree Hotels, incorporated in 1992, is a Mid Cap company with a market cap of Rs 10829.22 crore, operating in Tourism & Hospitality sector. Lemon Tree Hotels' key Products/Revenue Segments include Income from Rooms, Restaurants & Other Services and Other Operating Revenue for the year ending 31-Mar-2024.