BENGALURU: Electric two-wheeler maker Ather Energy said its board will meet on June 12 to consider raising fresh capital as the company gears up for its next phase of growth. The company said it may raise funds through equity shares, foreign currency convertible bonds, NCDs, warrants or other convertible securities. The fundraising could be undertaken…
ChatGPT creator OpenAI became the third major artificial intelligence developer to confidentially file for a public listing Monday, joining rivals in an IPO pipeline now worth some $3.6 trillion.SpaceX, which is officially known as Space Exploration Technologies Corp, is preparing for an IPO that would value the company at about $1.8 trillion. Anthropic raised funds…
NEW DELHI: Adani Energy Solutions (AESL) has inked a securities purchase agreement to acquire a 100% equity stake in IntelliSmart Infrastructure for Rs 3,050 crore. IntelliSmart Infrastructure is a leading smart metering JV between National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services (EESL).The proposed acquisition will strengthen AESL’s position as India’s largest smart…
BENGALURU: Quick commerce platform Zepto is pitching a high-volume model to public market investors as it prepares for its IPO, arguing that scale, density and advertising will eventually drive profitability.The company’s updated draft red herring prospectus (DRHP) shows a business growing rapidly on orders but still trailing market leader Blinkit on profitability.Zepto processed 210 million…
NEW DELHI: Government has ordered all digital platform aggregators, including Swiggy, Zomato, Uber, Blinkit, Ola, Rapido and Zepto, to upload details of their gig workers and complete their integration with the eShram portal by June 21, a move precursor to ensuring social security benefits.The directive follows rules formulated under the Code on Social Security last…
NEW DELHI: Apple has spent the past two years watching rivals race ahead in artificial intelligence, while its own AI ambitions stumbled amid delays and missed deadlines. At its Worldwide Developers Conference (WWDC) 2026, the company attempted a reset, unveiling a rebuilt Siri powered by Google’s Gemini models and positioning the assistant at the centre…
MUMBAI: Bank stocks surged across the board on Tuesday following RBI’s operational guidelines for a special foreign currency non-resident (bank) or FCNR(B), swap window, with public sector lenders leading the rally. Bank of Baroda rose 5.7%, Canara Bank 4.3%, and Punjab National Bank 3.7%, while Bankex, BSE’s index for the sector, climbed 2.2% against a…
BENGALURU: TCS chairman N Chandrasekaran said the IT industry will no longer hire at the scale seen over the past two decades as artificial intelligence takes over parts of traditional work, signalling a structural shift for India’s $315-billion technology sector. “The company will not be hiring the kind of numbers it used to hire,” Chandrasekaran…
NEW DELHI: Flying is set to get more expensive, with oil marketing companies Tuesday increasing aviation turbine fuel (ATF) prices by 10% under the new price-stabilisation regime. ATF prices will remain frozen at this level for three years under the new regime. Jet fuel for domestic carriers will now cost Rs 115 per litre, up…
NEW DELHI: The government has formally opened the door for exchange-based coal trading in India by notifying the Coal Exchange Rules 2026, laying down a regulatory framework for setting up and operating coal exchanges aimed at bringing greater transparency, competition and market-based price discovery to the coal sector.The rules provide for the establishment of regulated…
The government’s recent measures to boost foreign portfolio investment (FPI) in Government Securities (G-Secs) are aimed at improving India’s chances of securing inclusion in Bloomberg’s flagship Global Aggregate Bond Index, government sources said on Tuesday, PTI reported.Last Friday, the Centre unveiled a series of reforms to increase FPI participation in G-Secs and deepen the domestic…
The rupee snapped its losing streak and appreciated 20 paise against the US dollar on Tuesday as easing crude oil prices and a weaker dollar improved investor sentiment amid hopes of a pause in hostilities between the US and Iran.Forex traders said the domestic currency also drew support from positive domestic equities, softer US Treasury…
