MUNJAL
Paras Semiconductors, BroadPak join hands to build advanced semiconductor packaging capabilities
The collaboration will combine Paras Semiconductors' manufacturing ambitions in opto-electronics, photonics and co-packaged optics with BroadPak's technology expertise in advanced semiconductor packaging, heterogeneous integration and chiplet-based system architectures, it said.
UPSC Success Stories: He cracked AIIMS at 16, cleared UPSC at 22, and left IAS at 24 to build a nearly ₹2,000 crore startup
At just 16, Roman Saini achieved a remarkable feat by clearing the AIIMS entrance examination, and later, he conquered the UPSC Civil Services Examination. Along with his co-founders, he launched Unacademy, a platform dedicated to democratizing education. What began as a YouTube channel has transformed into a valuable online learning hub, boasting a valuation of ₹1,700 crore to ₹1,897 crore following its acquisition by upGrad.
Fake US officials, forged court orders and gold pick-ups: How a Hyderabad call centre targeted nearly 2 million citizens and stole Rs 261 crore
The Enforcement Directorate has uncovered a fake call centre syndicate that allegedly defrauded US citizens of millions. Investigators arrested seven individuals involved in this international money laundering operation. The syndicate impersonated US federal officials and pressured victims to pay money through various channels. Seized evidence includes forged documents and the personal information of numerous US nationals. The investigation continues to identify additional participants and trace the flow of illegal funds.
Listed realty firm Phoenix Mills Ltd appoints Parveen Mahtani as group legal head
An alumna of Government Law College (GLC), Mumbai, Mahtani began her career at the law firm Desai & Diwanji as an associate, then joined another firm, Nishith Desai Associates. In 2005, she moved to an in-house role and joined IL&FS Trust Company Ltd. as legal head for the debt recovery division.
Largescale cyberattacks test the limits of insurance cover
While businesses rush to enhance their cyber insurance cover, the incidents have triggered a debate over whether existing policies adequately cover emerging cyber risks. The biggest question insurers are policyholders seem to be confronting is: who pays when a vulnerability exposes thousands of organisations to the same threat?
Cyberattacks hit NBFCs; Pine Labs Q2 profit zooms
Cyber criminals are targetting smaller NBFCs with specialised AI toolkits. This and more in today’s ETtech Top 5.
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B2B manufacturing startup CapGrid closes Rs 50 crore round; valuation up 40%
CapGrid has recently secured Rs 50 crore in funding, primarily aimed at enhancing its operations. The ramp-up in capital is expected to help the startup expand into new industrial sectors. CapGrid plans to allocate a portion of these funds for research and development to drive innovation. The company intends to onboard new domestic customers and grow its market presence significantly.
Unacademy founders plan AI fund; Flipkart’s premium push
Happy Monday! Unacademy’s founders are raising a fund focused on AI and deeptech. This and more in today’s ETtech Morning Dispatch.
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.
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.
Edtech UpGrad’s net loss halves to Rs 131 crore in FY26, revenue rises 7.5%
Revenue from operations rose 7.5% to Rs 1,687 crore from Rs 1,569 crore a year earlier, according to the company's audited consolidated financial statements, filed with the Registrar of Companies (RoC). In FY25, UpGrad had reported a net loss of Rs 274 crore.
Flipkart customer orders smartphone but receives soap in sealed box: Sept 18 court order directs full refund with interest & compensation for mental harassment
A Delhi consumer commission has held Flipkart guilty of deficiency in service and unfair trade practice after a customer received bars of soap instead of a Realme Narzo 50A smartphone worth Rs 10,574. The commission directed Flipkart to refund the purchase price with 7% annual interest and pay Rs 5,000 as compensation for mental harassment and Rs 5,000 towards litigation expenses. The company has been given 60 days to comply with the order.
RBI may hike interest rate further in December policy: Experts
The Reserve Bank of India has shifted its policy stance to calibrated tightening amid rising inflation concerns. A rate hike of up to 50 basis points is anticipated in December, increasing the current benchmark rate. Various economists emphasize the likelihood of cumulative rate increases over the next months. Rising commodity prices and global market volatility are influencing these monetary policy decisions.
Sumitomo buys 49% in Hero Future Energies unit for Rs 375 crore
Japan's Sumitomo Corporation has made a strategic investment by acquiring a 49% interest in a Hero Future Energies subsidiary for ₹375 crore, leaving Hero with a controlling 51% stake. This renewable energy project, based in Bidar, Karnataka, aims to produce 500 MW of electricity. Hero Future Energies' impressive 10 GW renewable energy portfolio underlines the significance of this partnership in Sumitomo's ambitions in India's growing energy sector.
Sumitomo Corp picks up 49% stake in Hero group unit
Sumitomo Corporation has acquired a 49% stake in a Hero Future Energies project vehicle that will develop a 500 MW wind-solar-battery project in Karnataka’s Bidar district, while HFE will retain 51%. The partnership strengthens Sumitomo’s renewable energy presence in India and supports HFE’s wider 10 GW development pipeline.
IICT signs five MoUs to strengthen India’s AVGC-XR and creative-tech ecosystem
In a significant move, the Indian Institute of Creative Technologies has signed five MoUs with several organizations to strengthen industry partnerships. These agreements are tailored to encourage educational and technological improvements in creative sectors, specifically targeting skill enhancement and infrastructure in the audiovisual field. This initiative aspires to link budding talents with global career opportunities while fostering a thriving creative economy in India.
Damani, Premji, LIC among big winners from NSE listing
The National Stock Exchange made a remarkable debut in the stock market, bringing considerable benefits to its investors. The Life Insurance Corporation of India leads the pack with an impressive valuation of around Rs 48,620 crore. Other major participants include Aranda Investments Mauritius and Stock Holding Corporation, each valued over Rs 20,000 crore.
NSE debut may not set D-St on fire, sparks to come later
NSE is set to debut on the stock market amid market expectations of moderate gains. Traders quote a grey market premium of around ₹83 per share, down significantly from earlier estimates. The IPO was subscribed 5.71 times, highlighting strong institutional interest despite expectations for lower listing gains. Strict supply rules could limit immediate trading shares, impacting initial price movements post-listing.
Prashant Jain’s 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPO
Hero Motors secured Rs 300 crore from anchor investors before its upcoming IPO. The company plans to raise Rs 1,000 crore through a mix of fresh issue and offer for sale. Proceeds will fund debt repayment, capital expenditure, and potential acquisitions. The automotive technology firm designs and manufactures powertrain solutions for various vehicles. Its IPO opens for public subscription on September 16 and closes on September 18.
Rs 24,600 crore IPO dhamaka: NSE, Hero Motors to lead 11 public offers next week
NSE will be the biggest issue of the week, with an IPO size of Rs 22,562 crore. Hero Motors will follow with a Rs 1,000 crore issue. The two IPOs will dominate investor attention, while the remaining mainboard and SME issues will compete for retail and HNI money during the same period.
Crypto's shopping hack; Centre eyes Meta child safeguards
Indians are buying groceries, fuel, food and gold via gift cards on overseas crypto platforms. This and more in today's ETtech Top 5.
The “other Hero” comes to Dalal Street: A Munjal family story with a market twist
Hero Motors, the Munjal family-controlled automotive technology company, is set to enter Dalal Street with a Rs 1,000 crore IPO. The company, distinct from listed Hero MotoCorp, traces its roots to the Hero Group and has expanded into powertrain systems and components for global automotive and mobility customers.
Hero Motors fixes IPO price band at Rs 79-84 for Rs 1,000-crore issue. Know important dates, other details
Hero Motors has announced an initial public offering (IPO) price range between Rs 79 and Rs 84, set to open for subscription on Wednesday, September 16. Anchor investors have the opportunity to place their bids a day prior to the public offering. The funds generated through the IPO are earmarked for reducing debt and expanding facilities. The company's stock market debut is slated for September 23.
Ather & Ola Electric: A tale of two contrasting rides
Ather Energy's stock price has significantly increased since its IPO. Ola Electric's shares are currently trading below their initial public offering price. Ather's average monthly sales have risen, while Ola's have declined sharply. Product development and management strategy differentiate these two electric scooter companies. Hero MotoCorp continues to invest in Ather, showing strong confidence in its future.
Iztri raises Rs 10 crore funding from All In Capital, Suashish Group, others
Iztri, an innovative on-demand fabric care startup, has successfully raised ten crore rupees to expand its operations. This capital will support the growth of their services, focusing on shoe repairs and dry cleaning. The company intends to strengthen its hub network and improve infrastructure while targeting a significant increase in its customer base over the next six months, with plans to expand into southern India and major metropolitan regions.
Restaurants step up food safety; UpGrad seals Unacademy deal
Happy Wednesday! India’s food safety crackdown is forcing restaurants to clean up their kitchens and supply chains. This and more in today’s ETech Morning Dispatch.
UpGrad completes Unacademy acquisition; Ultrahuman’s $60 million raise
UpGrad has completed its acquisition of Unacademy, marking the close of a major consolidation in India’s edtech sector. This and more in today’s ETtech Top 5.
UpGrad completes Unacademy acquisition for over $200 million
The 100% share-swap transaction values Unacademy more than 90% below its $3.4-billion peak in 2021. ET first reported on May 4 that the acquisition was in its final stages.
Munjal Auto Industries shares soar 15%, hit 52-week high after Q1 results. What moved the stock?
Munjal Auto Industries reported a strong Q1 FY27 performance, with consolidated revenue rising sharply and the company turning profitable from a year-ago loss. Both its auto components and composite products segments recorded healthy growth, while a mark-to-market gain on mutual fund investments also supported other income.
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