MITHUN SACHETI
Nazara swings to Rs 35 crore net profit as revenues rise 53%
The company also swung to a net profit of Rs 35 crore compared to a loss of Rs 34 crore in the year-ago quarter, which was impacted by provisions against investments in real-money gaming companies following the August 2025 ban.
Exclusive: Unacademy founders Gaurav Munjal, Roman Saini plan Rs 700 crore AI, deeptech fund
The fund, named Longshot Capital, has secured commitments of about Rs 300 crore and is targeting its first close in January 2027, following which it plans to begin investing, the people said. Fundraising discussions are continuing, and the size and timing of the first close could change.
Meet Armaan Dhanda, who left college at 22 to turn microbes into tiny factories, his biotech startup raised $2.6 million
Dhanda co-founded the company with Samyak Baid, and they met at the National University of Singapore (NUS). The main approach of the business is to change how ingredients are manufactured. Notably, the company raised $2.6 million in pre-seed funding in 2025 to develop its technology, which uses engineered microbes to produce ingredients from simple sugars.
Stocks in news: HCL Tech, RBL Bank, Nazara Tech, Hero Motors, Power Grid and IRCON
Indian stock markets struggled on Monday, as the Nifty 50 saw a considerable drop. The falls were attributed to increasing bond yields, consistent outflows from foreign institutional investors, and pervasive global concerns. Attention now shifts to forthcoming announcements from major players like HCL Technologies and RBL Bank, with quarterly earnings expected to influence investor outlook.
Nazara founder Nitish Mittersain steps down as MD; Caratlane’s Sacheti appointed executive director
Mithun Sacheti, cofounder of jewellery retailer CaratLane, who became a co-promoter of Nazara last year, has been appointed executive director. Sacheti will oversee strategic initiatives and operational responsibilities assigned by the board, the filing said.
Startups will crown new champions today at 12th ET Startup Awards in Bengaluru
Union minister for commerce and industry Piyush Goyal will be the guest of honour at the event, which will bring together a strong mix of past and present ETSA winners and nominees, alongside leading voices from India’s new-economy landscape. Goyal is expected to speak about the government’s efforts to deepen and expand the country’s emerging business ecosystem.
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Union minister Piyush Goyal to headline ET Startup Awards on October 9 in Bengaluru
Goyal has been leading trade negotiations with key partners, including the US, after sealing high-profile deals with the UK, which came into force in July, and the EU, which is expected to take effect early next year. His ministry is also overhauling a raft of laws and regulations to make it easier to do business and to cement India's position as a global manufacturing hub, a push that has coincided with record foreign direct investment (FDI) inflows of $94.53 billion in FY26.
Value commerce startup CityMall in talks to raise Rs 400-500 crore led by Jungle Ventures: Sources
CityMall’s push into ecommerce in smaller towns and cities comes at a time when larger 10-minute delivery players such as Flipkart Minutes and Amazon Now are also expanding their presence in tier-II markets and beyond. CityMall is currently present in 18 markets across Uttar Pradesh, Bihar, Delhi-NCR, and Haryana.
ETSA 2026: Elite jury meets today to crown startup ecosystem's best
A distinguished jury led by Wipro’s Rishad Premji will select winners for the 12th edition of The Economic Times Startup Awards. The awards recognise entrepreneurial excellence across categories including innovation, women-led ventures and social enterprise. The coveted Startup of the Year nominees include Porter, Skyroot Aerospace, Rapido, Meesho, Groww and Sarvam.
Siddhartha Sacheti buys Rs 160 crore duplex in Mumbai’s Worli
Jaipur Gems CEO Siddhartha Sacheti has acquired two sea-facing luxury duplex apartments in Worli, Mumbai, for Rs 160 crore. The deal, totaling 12,260 sq ft, includes 10 parking spaces and involved significant stamp duty payments due to a recent resale. This transaction ranks among Mumbai's most expensive property deals.
Buy Metro Brands, target price Rs 1,400: JM Financial
JM Financial recommends a buy for Metro Brands, setting a target price of Rs 1,400, anticipating an increase from the current market price of Rs 1216 within a year. The company's recent financial results show a consolidated total income of Rs 665.83 crore for the quarter ended March 31, 2025, with a net profit after tax of Rs 94.91 crore.
Sell Metro Brands, target price Rs 925: HDFC Securities
HDFC Securities suggests selling Metro Brands shares, setting a target price of Rs 925. Metro Brands, a large-cap leather company, reported a slight dip in quarterly revenue but an increase compared to last year. Despite demand recovery signs and e-commerce growth, HDFC Securities anticipates lower other income, leading to reduced earnings estimates. Promoters hold a significant stake in the company.
Existing promoters to continue to control Nazara; Sacheti and Khandelwal to be deemed co-promoters: Nitish Mittersain
Mithun Sacheti of Caratlane and Arpit Khandelwal of Plutus Wealth Management have invested Rs 495 crore in Nazara Technologies, acquiring a 5.4% stake. The funds will be used for strategic acquisitions, highlighting the company's bullish growth projections for FY26 and beyond. The existing promoters will continue managing, with Sacheti and Khandelwal as deemed co-promoters.
Nazara raises Rs 495 crore from entity led by Arpit Khandelwal, CaratLane founder Mithun Sacheti; triggers open offer
Combined with the current preferential allotment of shares priced at Rs 990 apiece, which grants Axana a 5.4% stake in the company, Sacheti and Khandelwal’s stake now reaches 25.47%. This prompted the open offer under Sebi’s SAST rules. Khandelwal and Sacheti will now become deemed co-promoters of the online gaming firm.
Buy Metro Brands, target price Rs 1,460: Motilal Oswal Financial Services
Motilal Oswal Financial Services has given a buy rating for Metro Brands with a target price of Rs 1,460, citing strong store economics and cost controls, backed by a robust balance sheet. Current market price stands at Rs 1239. Promoters hold a 71.96% stake, indicating high confidence in the company's growth potential.
Arihant Foundations secures Rs 109 cr investment from Madhusudan Kela’s family fund and CaratLane founders
Arihant Foundations & Housing Limited secures Rs 109 crore investment from investors including Lotus Family Trust and CaratLane founders. The Chennai-based real estate company plans to use the funds for expansion in South India, focusing on residential, commercial, and senior housing projects.
ET Startup Awards 2024: Startups with impact and a sustainable vision to take the prize
For the ET Startup Awards 2024, jury members from across the globe will come together on September 11 to recognise the brightest and best entrepreneurial talent.
Fintech startup IppoPay raises funding from CaratLane founder Mithun Sacheti, Jaipur Gems CEO
IppoPay, a Chennai-based fintech startup, received an undisclosed investment from Mithun and Siddhartha Sacheti. The funds aim to boost customer experience, expand offerings, and form strategic partnerships. IppoPay helps small businesses with UPI payments and current accounts.
CaratLane’s Mithun Sacheti, Binny Bansal back Xeed as Indian founders turn big local sponsors of funds
In India, founders like Sacheti and Bansal are funding domestic funds like Xeed Ventures. The Rs 600 crore fund, with Premji Invest's backing, invests in startups like Charcoal.inc and Kredit.pe, led by Sailesh Tulshan.
Home improvement firm Arrivae raises Rs 21 crore in funding
Arrivae secures Rs 21 crore from Mithun Sacheti to boost supply chain and expand in key markets. The firm offers end-to-end design-to-manufacturing services and has notable investors like Rekha Jhunjhunwala and Harsh Jain on board.
Mithun Sacheti joins Singularity Growth; Agilitas raises Rs 100 crore from Nexus
Mithun Sacheti, who scored a Rs 4,621-crore exit from omnichannel jewellery retailer CaratLane to Titan in August, has joined Singularity Growth as a general partner. This and more in today's ETtech Top 5.
CaratLane founder Mithun Sacheti joins Singularity Growth as co-sponsor, general partner
Sacheti was already an investor or limited partner (LP) in Singularity’s first fund, besides being part of its investment committee (IC). Singularity is currently raising its second fund of Rs 1,500 crore and has received a capital commitment of Rs 500 crore as its first close. Sacheti is also a significant LP in Flipkart founder Binny Bansal's early-stage venture fund 021 Capital.
We have great governance and our profits are growing faster: Mithun Sacheti, Caratlane
We did Rs 2200 crores revenue last year and about Rs 150 crores of EBITDA, Rs 160 crores I think we did and that is possibly going to grow north of Rs 3000 crore very easily this year. And we are in a space which is growing very well. When you are on the right ride, then everybody wants a part of it.
CaratLane’s Mithun Sacheti on glittering Titan deal; Zerodha expects steady revenue in FY24; and FirstCry closes secondary deal
Happy Monday! Mithun Sacheti hit it big on Saturday when he sold his 27% stake in online jewellery marketplace CaratLane to Titan. The Rs 4,621 crore deal is among the largest for any Indian consumer internet company. Hear all about it from Sacheti himself in today’s super packed edition of the ETtech Morning Dispatch.
Titan picks up 27% more in CaratLane for Rs 4,621 crore
The latest transaction will ascribe a valuation of Rs 17,000 crore to CaratLane. The deal ranks as the second largest exit for an ecommerce founder in India after Flipkart founders Sachin Bansal and Binny Bansal sold their stakes to Walmart.
CaratLane stops selling on Amazon, Flipkart citing poor jewellery sales on the platforms
Caratlane saw Titan pick up a majority stake in 2016 for Rs 357 crore.
Caratlane’s CEO Mithun Sacheti is obsessed with 'Godfather'
Sacheti, an avid poker player, says he is also influenced by Tim Brown to solve problems.
Want to buy jewellery for your woman? Caratlane CEO Mithun Sacheti has some advice
Impressing a woman with the right jewellery is a tough act for men.
CaratLane in talks with US-based online stores for acquisition
CaratLane has raised over Rs 300 crore ($50 million) since 2011, mostly from Tiger Global Management, which is invested in Indian start-ups Flipkart and Ola.
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