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.
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.
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