Rapido Revs Up for $100 Million Fundraise, Eyes $900 Million Valuation Amid Expansion Drive
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- April 5, 2024
The State Bank of India (SBI), a government-owned entity, has reportedly received ₹10.68 crore from the Ministry of Finance to facilitate the sale and redemption of electoral bonds, as per a recent report by The Indian Express. This allocation was intended to cover various expenses incurred by the bank during the electoral bond process, including
READ MOREThe Punjab government, in a significant move, declared April 8th as a gazette holiday to commemorate the birth anniversary of Guru Nabha Das, a revered saint of the 16th century. This decision, announced on Friday, will see the closure of schools, colleges, and other educational institutions across the state, along with all government offices. The
READ MORESumit Mathur, who served as the Chief Marketing Officer (CMO) at Paytm’s parent company, One 97 Communications, for over a year, has now taken on the role of Country Head for India and South Asia at Glanbia Performance Nutrition, a prominent sports nutrition company. Mathur’s announcement of this career move was made on LinkedIn, where
READ MOREAmidst the escalating legal woes of edtech giant BYJU’S, an arbitrator has issued an order instructing the company to refrain from selling 4 million shares of its subsidiary, Aakash Educational Services. This development stems from Ranjan Pai’s MEMG Family Office initiating arbitration proceedings against BYJU’S last month, alleging breach of terms of a $42 million
READ MOREIndia’s burgeoning startup ecosystem witnessed yet another meteoric rise as TAC Infosec, a SaaS cybersecurity venture backed by renowned investor Vijay Kedia, stormed the National Stock Exchange’s (NSE) Emerge platform on Friday, April 5. The debut was nothing short of a spectacle, with the startup’s shares commanding a staggering premium of 173.6% over the issue
READ MOREIndia’s ride-hailing startup Rapido is gearing up for a substantial fundraise, eyeing a whopping $100 million (approximately INR 833.9 crore) injection into its coffers from existing investor WestBridge Capital and other potential backers. Reports indicate that the company has already secured commitments nearing $70 million and is actively seeking additional support from Indian family offices
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