Sebi green lights Delhivery’s Rs 7,460 crore IPO proposal

The Securities and Exchange Board of India (Sebi) is learnt to have approved the proposed Rs 7,460-crore initial public offering (IPO) of Delhivery, people aware of the matter told ET. This makes the Gurugram-based new-age logistics startup the first unicorn this year to have obtained the stock market regulator’s nod to list on domestic bourses. … Read more CEO Vishal Garg apologises after laying off 900 employees over Zoom

The CEO who last week laid off 900 employees in a single Zoom call has apologized after he attracted sharp criticism when the video was posted on social media. Vishal Garg, head of online mortgage originator, convened employees over the video streaming platform and told them “if you are on this call, you are … Read more

Nvidia-ARM $40 Billion Deal Dealt Blow by UK Regulator

Nvidia planned $40 billion acquisition of British chip designer ARM hit a major hurdle on Friday after a UK regulator found it could damage competition and weaken rivals, and required a further lengthy investigation. Struck in September last year, the deal for Britain’s most important technology company by the world’s biggest maker of graphics and … Read more

Policybazaar files draft papers for Rs 6,017 crore IPO

NEW DELHI: PB Fintech, which operates insurance marketplace platform Policybazaar and credit comparison portal Paisabazaar, filed its initial public offering (IPO) papers with Sebi. It has joined a number of other new-age fintech peers—Paytm, Mobikwik, Nykaa and Zomato–who have announced their public issues. The company and its shareholders seek to raise Rs 6,017 crore from … Read more

China’s Ant Group may sell about 5% of Paytm via OFS

China’s largest fintech conglomerate Ant Group is likely to sell at least 5% of its 30.33% stake in Paytm parent One97 Communications before the latter’s Initial Public Offering (IPO) slated for November, sources aware of the matter told ET. This is because Paytm wants to bring down Ant’s stake to below 25% to comply with … Read more

Nvidia Gives Health Researchers Access to $100-Million UK Supercomputer

Nvidia on Wednesday said it opened what it claims is the fastest UK supercomputer to outside researchers that include both academic scientists and commercial firms such as AstraZeneca PLC and GlaxoSmithKline PLC. The chip supplier spent about $100 million (roughly Rs. 750 crores) on its Cambridge-1 system, which uses artificial intelligence to solve health research … Read more

Bharti to invest additional Rs 3,700 cr into OneWeb

NEW DELHI: Bharti will invest an additional USD 500 million (over Rs 3,700 crore) into OneWeb, to become the largest shareholder in the satellite communications company that billionaire Sunil Mittal-run Bharti Group along with the UK government had rescued from bankruptcy last year. The investment is a result of exercise of a ‘call option’ by … Read more

Nvidia’s $40-Billion ARM Deal Faces UK Scrutiny Over National Security

The UK government will look into the national security implications of US group Nvidia’s purchase of British chip designer ARM Holdings, it said, raising a question mark over the $40-billion (roughly Rs. 2,99,130 crore) deal. Digital minister Oliver Dowden said he had issued a so-called intervention notice over the sale of ARM by Japan’s SoftBank … Read more

Arm-Nvidia Deal: Britain Assessing Impact of Sale, Minister Says

Britain is assessing the impact of the sale of chip designer Arm to US company Nvidia, including commitments to keep its head office and staff in Cambridge, Eastern England, digital minister Caroline Dinenage said. “We are currently working very hard to understand the full impact of this move and what potential impact it may have … Read more

Unacademy in talks to raise $150 million, led by SoftBank

BENGALURU: Unacademy is finalising a deal to raise around $150 million led by SoftBank, sources in the know told ET, boosting the ed-tech startup’s pre-money valuation to $1.3 billion, second only to industry leader Byju’s. Unacademy last picked up $110 million from Facebook and PE firm General Atlantic in February, at a valuation of $510 … Read more