Mobile Financial News

Ather Energy has set an ambitious valuation target of $2-2.25 billion (about ₹16,800-19,000 crore), as the electric scooter maker prepares to file its draft prospectus next week for an initial public offering (IPO), said people familiar with the matter. The Bengaluru-headquartered startup is looking to raise ₹3,500-4,000 crore through the IPO which will comprise a fresh issue and an offer for sale by existing shareholders. Funds raised through the fresh issue would be used partly for capacity expansion, the people said.

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The issue will open for subscription on September 10 and close on September 12. The anchor bidding will start on September 9.

Blackstone Inc. has agreed to acquire AirTrunk in a deal valuing the Australian data centre operator at A$24 billion (US$16.1 billion), including debt and capital expenditure for committed projects.

MeitY) on Wednesday launched a series of blockchain-based solutions, aimed at enhancing transparency, security, and efficiency in digital service delivery. The Vishvasya-Blockchain Technology Stack is designed to offer Blockchain-as-a-Service (BaaS) with a geographically distributed setup to support a range of permissioned blockchain applications. The stack is hosted across NIC Data Centers in Bhubaneswar, Pune, and Hyderabad, ensuring robust and scalable service delivery, the government said.

incentives for companies that have exceeded production, sales, and export targets of mobile phones every financial year under the mobile phone production-linked incentive (PLI) scheme, sources told ET. A senior government official told ET that some companies have consistently met their production, sales and export targets under the PLI scheme and have sought additional incentives due to them as soon as possible as a “good faith” measure. “The decision on disbursement on production above the ceiling limit is pending at the empowered committee level. We are looking at how to approach this issue best and hope to arrive at a solution soon,” an official said.

Adani Enterprises’ first-ever non-convertible debentures (NCDs) issuance has received bids of Rs 716 crore on the opening day, higher than the base issue size of Rs 400 crore. The overall issue, open for subscription for a fortnight, was oversubscribed 1.8 times. The NCDs, rated CARE A+ (Positive) by CARE Ratings Ltd., offer an effective yield of up to 9.9% annually across eight series, with tenors ranging from two to five years. The issue, launched Wednesday and is scheduled to close on September 17, includes a green shoe option to raise an additional Rs 400 crore, potentially taking the total fund mobilization to Rs 800 crore.

World Health Organization (WHO) has found no link between mobile phone use and an increased risk of brain cancer. The analysis, covering studies from 1994 to 2022, concluded that despite the rise in mobile phone usage, there hasn't been a corresponding increase in brain cancer incidence. This review was conducted by 11 investigators from 10 countries. The review assessed the effects of radiofrequency used in mobile phones, as well as in TVs, baby monitors, and radar. Co-author Mark Elwood, professor of cancer epidemiology at the University of Auckland, New Zealand, said, «None of the major questions studied showed increased risks.» The researchers investigated cancers of the brain in both adults and children, as well as the pituitary gland, salivary glands, and leukemia. They looked into risks linked to mobile phone use, base stations, or transmitters, and occupational exposure.

GTPL Hathway, India’s largest Multi-System Operator (MSO), has launched its entertainment app, GTPL Buzz, which offers cloud gaming, live TV streaming, and international content channels. GTPL Buzz marks the first commercial launch of Blacknut Cloud Gaming in India. The subscription-based service offers over 500 premium AAA games, allowing users to enjoy high-quality gaming without the need for expensive consoles. The service supports up to five profiles, enabling family members to play simultaneously across various devices, including mobiles, tablets, PCs, Android Set-Top Boxes, and smart TVs. The app enables GTPL customers with active cable TV or broadband connections to stream live TV content on their mobile devices, providing the flexibility to watch TV anytime and anywhere. Branded as GTPL Live TV, this service allows streaming on two additional devices simultaneously, complementing the content available on traditional set-top boxes.

Shares of ECOS (India) Mobility and Hospitality surged 16.5% to Rs 456 on the BSE following a decent debut on Wednesday. The stock was listed at Rs 391.2 on the BSE, posting a 17.1% premium over the IPO price of Rs 334. However, the listing was slightly below expectations, as the shares were trading at a grey market premium (GMP) of 48% above the issue price before the debut.

Telangana have been left without access to drinking water. The damage caused by the floods has affected rural water supply pipelines, submerged electricity substations, and pump houses, leaving many villages marooned with limited access to potable water. The floods on Saturday and Sunday severely disrupted the ground support structure of the pipeline network, particularly in the districts of Khammam, Bhadradri-Kothagudem, Mahabubabad, Suryapet, Nizamabad, and Nagarkurnool.

MHA) has moved the Supreme Court seeking better accommodation and facilities for the Central Industrial Security Force (CISF) personnel stationed at the RG Kar Hospital and Medical College and hostels of resident doctors. In an applicationbefore the Supreme Court, the MHA argued that due to the long distance between the accommodation place and the RG Kar Hospital, the security personnel have been facing difficulties in ensuring efficient administration and prompt mobility during contingencies. The MHA has sought for the initiation of contempt proceedings against West Bengal officials in violation of the orders of August 20 and 22 in the event of failure to cooperate with the needs of the CISF troops.

Nirmala Sitharaman called on various ministries and departments to expedite capital spending and set quarterly targets. On Tuesday, Sitharaman chaired the first of a series of meetings lined up to review the productive spending, and the resultant asset creation, across infrastructure and other ministries. She held meetings with the ministries of road, transport and highways, and communication. She asked them to meet the targets well on time to make up for the decline, witnessed in the first and second quarters of this fiscal, in the third quarter itself, the finance ministry said in a statement.

Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh on Tuesday accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to Rs 1,44,716 crore. «Of the total cost of AoNs, 99% is from indigenous sources under Buy (Indian) and Buy (lndian-Indigenously Designed Developed and Manufactured) categories,» said the official statement, For modernisation of the tank fleet of the Indian Army, the proposal for procurement of Future Ready Combat Vehicles (FRCVs) has been cleared. The FRCV will be a futuristic Main Battle Tank with superior mobility, all terrain ability, multilayered protections, precision & lethal fires over and real-time situational awareness.

IndiGo on Monday has started to operate 35 flights from the new building of the Terminal 1 of Delhi’s Indira Gandhi International Airport, reported TOI. Operations from the terminal were smooth, said officials. IndiGo and Spicejet have now partially shifted their operations at T1. «Flight operations were smooth after 35 IndiGo departures were shifted to the new T1 from Monday,» said an airport official.

“We wish to inform you that Union Cabinet chaired by Honourable Prime Minister of India, Shri Narendra Modi approved the proposal of Kaynes Semicon Private Limited, a wholly owned subsidiary of Kaynes Technology India Limited, to set up a semiconductor unit at Sanand, Gujarat through its press release dated 02nd September, 2024,” the company said in a filing to the exchanges.

The International Longshoremen's Association, which has more than 47,000 members, said it had discovered that the gate was using technology to check and let in trucks without union workers, which it said violated its labor contract. «We will never allow automation to come into our union and try to put us out of work as long as I'm alive,» said Harold J. Daggett, the union's president and chief negotiator in talks with the United States Maritime Alliance, a group of companies that move cargo at ports.

Mumbai: The demand for ‘crisis consultants’ is on the rise, as companies scramble to address regulatory diktats, cybersecurity scares and climate events, according to consultants and lawyers who spoke with Mint. A person from a Big 4 consulting firm, who requested not to be named, said the firm is looking to have close to 2,000 people in its crisis team, more than double the current strength. Experts said that the time to resolve a crisis has shrunk from three-four weeks to a few days currently, as teams have access to AI and data solution methods for quick resolution.

₹1.5 lakh on its popular three-door Thar SUV model, just weeks after the launch of its larger sibling, the five-door Thar Roxx. The move is meant to maintain the sales momentum for the Thar, particularly as potential buyers may be swayed by its overlapping price points with the Thar Roxx, two people aware of the development said.

The project will generate direct employment for about 102 lakh man-days, or what Vaishnaw described as «human days», during the construction. Prime Minister Narendra Modi said in a post on X, «Today's Cabinet decision will improve connectivity between Mumbai and Indore. In addition to boosting commerce, it will also provide employment opportunities to several people.»