Innovations Financial News

ESAF refiled its draft IPO papers in July this year and received approval for the same from Sebi earlier this month. The Rs 463-crore IPO includes a fresh equity issue of Rs 391 crore and an offer for sale (OFS) of Rs 72 crore. Investors can bid for a minimum of 250 shares and in multiples thereafter. Under the OFS, promoter selling shareholder ESAF Financial Holdings will offload stake worth Rs 49 crore and other selling shareholders PNB MetLife and Bajaj Allianz Life make up for the remaining OFS portion. The offer is being made through the book building process, where about 50% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 35% for retail investors. The proceeds from the fresh issue will be used towards augmenting the Bank’s Tier– I capital base to meet its future capital requirements. As a small finance bank, ESAF requires at least 75% of its adjusted net bank credit to be allocated to priority sectors.

AI for positive and sustainable impact across India, as well as those working to ensure the benefits of India's digital transformation are inclusive, equitable and safe. Recently, Annie Lewin, senior director, global advocacy and head of Asia Pacific, Google.org, was in New Delhi to announce a $4 million grant to CyberPeace Foundation to help 40 million people combat misinformation across India and $3.3 million to Wadhwani AI to protect India's staple crops with AI-powered pest mitigation technology.

Honasa Consumer IPO: The Initial Public offering (IPO) of Mamaearth parent Honasa Consumer Limited hit primary market today. This means, subscription for the Mamaearth IPO has opened today and it will remain open for bidding till 1st November 2023.

If you’re a woman advisor looking to support other women, Sharon Hayut says the Women Advisor Summit is the event you’ll want to attend.

Google CEO Sundar Pichai has finally taken the stand in the biggest U.S. antitrust case in a quarter century

manufacturing hub, said officials. The Niti Aayog is undertaking an exercise to identify these sectors and their export potential and recommend strategies accordingly, they said. The government will tweak policies and provide infrastructure support to help these sectors become global champions in manufacturing.

Thailand’s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region’s local crypto exchanges through one of its subsidiaries.

Sundar Pichai took swipes at rival Microsoft, while appearing before a court an antitrust hearing panel in Washington on October 30 Pichai said that Chrome, the web browser of Google that dominates the segment, was launched by the company at a time when browser market had stagnated. Microsoft's Internet Explorer was considered as the top web browser before the launch of Chrome in 2008.

₹1 lakh per year, will grow faster than its upper end. The middle class currently represents 31% of India’s population and is expected to reach 40% by 2031. The room for growth is huge, given the big gap in average income between India and developed countries and India’s large youth bulge in a rapidly ageing world.

The Web3 Foundation has recently concluded its 19th wave of grants, dedicating over $1.1 million towards 33 different projects under the Web3 Foundation Grants Program. This wave witnessed a submission of 100 applications, marking the highest in over two years. The foundation highlighted its 600th grant and the processing of the 1000th milestone within this period. The burgeoning Polkadot developer community, now ranked second globally after Ethereum, accentuates the innovation and zeal of teams within this ecosystem. The Grants Program remains a pivotal part in fostering these teams and enticing new developers, enhancing Polkadot's reputation as one of the most vibrant communities in the Web 3.0 domain. This initiative is aimed at facilitating the upcoming array of innovations through an accessible, transparent, and open grants program.

WASHINGTON (Reuters) — Sundar Pichai, CEO of Alphabet (NASDAQ:GOOGL) Inc and its subsidiary Google, testified Monday in a once-in-a generation antitrust fight with the U.S. government that the company sought to make browser use and internet search easy and secure.

Under the terms of this agreement, Zydus has granted Sun Pharma semi-exclusive rights to co-market the product in India. Sun Pharma will market the drug under the brand name RYTSTAT®.

Appinventiv is a full-suit software development company that has been delivering cutting-edge digital solutions to its clients for almost a decade. Their expertise spans across custom software development, AR/VR development, IoT, AI, ML, Cloud, Blockchain, and many more. They have a team of 1200+ highly skilled professionals who deliver delightful experiences to Appinventiv’s clients while banking on their technical prowess.

Nestaway Technologies Pvt. Ltd. is proud to announce its strategic acquisition by Aurum PropTech Ltd., a leading player in the residential rental space.

Advisor Credit Exchange have added two former UBS senior leaders as its new CEO and COO.

LT Foods Ltd on Monday reported a 64.86 per cent rise in consolidated net profit to Rs 157.26 crore for the second quarter ended September 30, helped by expansion in domestic and foreign markets. It had reported a net profit of Rs 95.39 crore for the July-September quarter a year ago, according to a regulatory filing by LT Foods Ltd, which owns basmati rice brands — Daawat and Royal. Its revenue from operation increased 14.66 per cent to Rs 1,977.78 crore during the quarter under review.

OpenAI has rolled out a recent update to ChatGPT Plus, introducing two significant features that promise to enhance the user experience, further improving the AI chatbot. As reported by The Verge, numerous users of ChatGPT Plus have shared details about the platform's latest updates. For those who might not know, ChatGPT Plus is an optional subscription offering access to an enhanced GPT-4 model and additional features like the Code Interpreter and ChatGPT Plugins.

Infibeam Avenues, has launched a mobile-based QR code payment solution in the United Arab Emirates. The company, which runs the payment gateway brand named CCAvenue.ae (the UAE web domain) intends to tap the growing offline payments landscape in the Emirate with the product. It is the company’s first such offline payments solution for the international market.

An Australian regenerative medicine company is preparing for a major expansion in the US with a unique “collagen Velcro” sourced from high-quality pigs that repairs severed nerves.

Even Narayana Murthy isn't always on point: youth must work smarter, not longer Defending Murthy's statement former Infosys CFO Mohandas Pai has shared data on how many hours urban men work in each state. Pai asserted that 'Prosperity needs hard work, data shows'. Also read: Mint Explainer: Why Narayana Murthy's call for a 70-hour work week won't fly According to the map that Mohandas Pai shared, the average working hours in India is 61.6 per week.

Mint previously reported that Gentari Sdn Bhd and GIC Holdings Pte Ltd will invest $1.75 billion in AM Green Ammonia Holdings, a company owned by Greenko Group founders Mahesh Kolli and Anil Kumar Chalamalasetty. Gentari will invest $1.5 billion for a 30% stake in AM Green Ammonia Holdings, valuing the company at $5 billion.