On January 25, 2024 Thursday, the Reserve Bank of India granted approval to Life Insurance Corporation of India (LIC), a state-run insurer, for its application to acquire a 9.99% aggregate holding of the paid-up share capital in HDFC Bank. In accordance with Regulation 30 of the SEBI Listing Regulations, LIC, through an exchange filing, disclosed […]
Azim Premji, the founder of Wipro Ltd, has made a substantial gesture by transferring 1.02 crore equity shares of Wipro, valued at approximately Rs 483 crore, to his two sons, Rishad Premji and Tariq Premji. This notable move was officially disclosed in an exchange filing. The shares were transferred as a gift from Azim Premji […]
A recent report indicates that international lenders to Byju’s have initiated insolvency proceedings against the ed-tech company. Byju’s is grappling with a deepening financial crisis as foreign investors file for insolvency before the National Company Law Tribunal (NCLT), according to Moneycontrol. Responding to the developments, Byju’s dismissed the proceedings before the NCLT as “baseless and […]
Indian food delivery startup Swiggy plans to cut 6% of its workforce as part of cost-cutting measures and to enhance profitability before its upcoming initial public offering (IPO) where the firm is likely to raise $1 billion. The workforce reduction is expected to affect approximately 350-400 employees across various teams, including technology, call center, and […]