FINTECH ACQUISITIONS
IIFL Finance board to weigh Blackstone, Advent proposals for Rs 5,000 crore capital raise
IIFL Finance's board will consider separate investment proposals from Blackstone and Advent International for a nearly Rs 5,000 crore capital raise, as the lender also explores a potential transaction involving Fairfax's stake sale.
Investors in other markets would be envious of India multiples: Rich Handler, chief executive of Jefferies
Jefferies CEO Rich Handler believes Indian equities remain reasonably valued despite the market correction and says easing long-term capital gains taxes could attract foreign investors. He sees opportunities in India's AI and data centre sectors, argues that global capital outflows reflect external pressures, and believes concerns about an AI bubble warrant a healthy pause rather than alarm.
Beyond payments: Here is how Adyen is helping Prism globally through its unified payments platform
As Indian enterprises branch out to international markets, a fragmented payments ecosystem, non-compatible with the local payment rails, can be a major roadblock. PRISM’s journey to global markets, and its partnership with Adyen, highlights how a unified payments platform can mitigate the pain points and help businesses integrate local payment experiences with global scale seamlessly. Read on!
GPU bidding norms eased; Lenskart CEO on profitability
Happy Thursday! Govt has lowered entry barriers for GPU bidders, but pricing concerns remain. This and more in today’s ETtech Morning Dispatch.
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
STT Global’s India biz on the block; micro occasions power qcomm
KKR, Singtel, and the Tatas are preparing to sell STT GDC India, a major data centre platform. This and more in today’s ETtech Top 5.
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Razorpay gets final Gift City licence to expand cross-border payments
Razorpay has attained a payment service provider licence from the International Financial Services Centres Authority. This licence allows the company to process foreign-currency payments from its base in Gift City, Gujarat. The approval enables Razorpay to offer multi-currency accounts and facilitate international transactions. With established integrations with RBL Bank and ICICI Bank, the service is expected to be utilized shortly.
CCI clears Prosus' proposal to acquire stake in Sachin Bansal-led Navi
Competition Commission of India has approved Prosus' acquisition of a stake in Navi Ltd. This move aims to enhance Prosus' position in India's digital financial services market. MIH Payments Holdings BV, part of Prosus, will acquire certain shareholding in the fintech firm. Navi Ltd provides various financial services, including loans, insurance, and digital payments. This investment marks a significant milestone in Navi's growth after securing USD 100 million from Prosus.
CCI approves Adani acquisition of Intellismart
Adani Energy Solutions has received approval to acquire IntelliSmart Infrastructure, establishing a major presence in smart meters. This acquisition will help expand the Adani Group's operations in digital grid modernization efforts. The Competition Commission of India also approved other significant acquisitions in various sectors, highlighting ongoing consolidation in the market. Notable approvals include investments in telecom and quick-service restaurants, enhancing industry efficiency.
Cognizant eyes Sarvam stake; Ather aims for higher market share
Happy Wednesday! Cognizant has held discussions to invest in homegrown AI startup Sarvam. This and more in today’s ETtech Morning Dispatch.
Paytm targets one-third UPI market share as Sharma steps up consumer acquisition
Paytm currently accounts for about 8.1% of UPI transaction volumes, behind PhonePe's 45.6% and Google Pay's 32.2%, according to September data from the National Payments Corporation of India.
Stocks in news: Paytm, Tata Consumer, Dalmia Bharat, REC and DCM Shriram
Indian equity markets showed recovery with a rise in NSE Nifty 50, ending a four-session losing streak. Several companies reported their September-quarter earnings, highlighting varying financial performances. Paytm experienced significant profit growth, while Dalmia Bharat reported a net loss due to an exceptional charge. Defence stocks are also in focus following government procurement approvals. Investors continue to track earnings reports and related developments in the market.
Paytm Q2 Results: Profit rockets 976% YoY to Rs 226 crore, revenue jumps 28%
Paytm Q2 Results: Fintech major Paytm on Monday reported 976% year-on-year (YoY) growth in its consolidated net profit at Rs 226 crore. The same stood at Rs 21 crore in the year-ago quarter. Revenue from operations in the reporting period rose 28% YoY to Rs 2,648 crore.
Unacademy cofounder Gaurav Munjal pushes back against criticism of Indian VCs
Munjal cited companies such as Astrotalk, Airbound and Sarvam AI as examples of startups that have been able to raise capital and grow quickly. He also pointed to the success of companies such as Groww, Eternal and Meesho.
FinTech M&A outlook improves, but investors remain selective on valuations: Report
Valuations of fintech companies have come under pressure across several segments as investors reassess businesses, while global fintech deal activity is showing signs of renewed momentum entering the fourth quarter of 2026, according to a report by D.A. Davidson.
Zetwerk IPO fully subscribed; Super.money triples revenues
Zetwerk’s Rs 5,012-crore IPO was subscribed 3.06 times on Monday, the last day for bids. This and more in today’s ETtech Top 5.
From 100 million users in 170 days to an IPO, a decade of Jio Platforms
Jio Platforms is on the brink of its initial public offering, an important step in its evolution. Since its inception in 2016, the company has gained over 524 million customers and achieved impressive profitability. With significant investments from leading global players in recent years and a vast portfolio of patents, Jio is positioning itself as a leader in innovation.
Flipkart-backed Super.money’s FY26 revenue triples to Rs 292 crore but loss widens 78%
Consumer-facing UPI apps such as Super.money spend heavily on marketing to acquire customers before monetising them through credit and commerce. The company’s total income rose to Rs 293.3 crore from Rs 94 crore in FY25, while expenses more than doubled to Rs 557.1 crore, filings with the Ministry of Corporate Affairs (MCA) showed.
Fairfax must merge CSB or exit one bank within 2 years: DIPAM Secy Arunish Chawla
The Cabinet Committee on Economic Affairs has approved Fairfax Financial Holdings' acquisition of a majority stake in IDBI Bank. The next steps include obtaining necessary regulatory clearance from the Reserve Bank of India. Employee service conditions and pensions will be protected under the new ownership. Future strategic restructuring plans for public enterprises are also in progress. Additional asset monetisation initiatives involving infrastructure are being developed for efficient capital use.
Paytm shares get new Buy rating after Nomura initiates coverage. 3 reasons behind bullish call
Nomura has initiated coverage on Paytm with a Buy rating and a target price of Rs 2,250, implying an upside of 31%. The brokerage expects EBITDA to grow at a 96% CAGR over FY26-29F, driven by payments, merchant lending, AI-led cost efficiencies and potential UPI MDR revenue. International expansion and enterprise AI product Pi offer additional growth opportunities.
Fintech funding rises 14% to $2.2 billion in Jan-Sep; deal count falls 41%: Tracxn
Funding in the first nine months of 2025 stood at USD 1.9 billion. The number of rounds dropped to 153 from 260 a year ago, the data intelligence platform said in a report.
NBFC services to banks will attract 18% GST
The interest on the underlying loan will remain exempt from GST. The 18% levy will apply to the taxable service supplied by the NBFC to the bank in the co-lending arrangement. The committee also decided to align the valuation of the NBFC's service with the methodology prescribed by the Reserve Bank of India.
Agentic AI in financial services: How banks are rethinking lending, risk and decision-making
From loan processing and credit assessment to fraud detection and regulatory compliance, agentic AI is changing how financial institutions make decisions. The next challenge for banks and fintechs is to scale these capabilities while maintaining accountability, customer trust and control.
Prosus steps up India fintech bets with Kiwi, Oolka funding talks
Prosus has held exploratory talks to invest in Kiwi, which offers bank-issued RuPay credit cards and credit lines for Unified Payments Interface (UPI) payments and is looking to raise around $40 million, the people said. ET reported last week that Kiwi was in the market for fresh funding.
Stocks in news: Titan, HCL Tech, Adani Ports and Utkarsh SFB
Indian equities extended their recovery on Tuesday, driven by positive global cues and corporate updates. The Nifty 50 index closed at 22,714.80, marking a gain of 195.05 points. Several companies, including Titan Company and HCLTech, reported encouraging business developments that are likely to impact their stock performance. Technical analysts suggest that the Nifty will remain constructive if it stays above 22,600.
UPI MDR spurs soundbox expansion beyond metros
The industry has scope to increase soundbox deployments from about two crore to five crore over time, a top official at the National Payments Corporation of India (NPCI) said, requesting anonymity.
Moneyview closes 67% above IPO price, boosts paper gains for Ribbit, Accel
Moneyview’s Rs 1,092-crore IPO comprised a fresh issue of Rs 750 crore and an OFS of about Rs 342 crore. The issue was subscribed 98.46 times, led by qualified institutional buyers whose portion was subscribed 227.45 times.
Kiwi seeks up to $40 million as fintech steps up credit push
The proposed funding would be Kiwi's largest round after the Nexus Venture Partners and Stellaris Venture Partners-backed company raised $24 million in August last year. The round was led by Singapore-based Vertex Ventures.
PB Fintech shares slip another 5% after massive 36% crash on Thursday. What are Jefferies, others saying?
PB Fintech share price: PB Fintech shares plunged 36% in the previous session following IRDAI’s proposal to curb ‘dark patterns’ on insurance websites. The proposed rules could also pressure insurance stocks by limiting insurers’ Expense of Management (EoM), potentially reducing spending on commissions and distribution while raising customer acquisition costs.
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