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The Latest Breaking News from ET

L’Oréal-Innovist deal: early investors cash in big, founders pocket Rs 800-900 crore

L'Oréal announced on Thursday that it would acquire a majority stake in Innovist. While the companies did not disclose financial details, people familiar with the transaction told ET that the deal values the Gurugram-based startup at around Rs 4,100 crore.

The Economic Times

Electronics now third largest export category, next target second rank: Ashwini Vaishnaw

India's electronics exports are surging, now its third-largest category, with ambitions to become second. The nation's electronics manufacturing sector is valued at Rs 13 lakh crore. The minister was speaking at the inauguration of American electronics manufacturing services firm Jabil’s new advanced facility in Pune.

The Economic Times

PE firms join GCC boom, push portfolio companies to set up captive centres

Private equity-backed firms are increasingly establishing Global Capability Centres (GCCs) in India, moving beyond cost savings to build AI, engineering, and product capabilities. This trend signifies a shift from large corporations to mid-market companies leveraging GCCs as a strategic value-creation tool for portfolio companies.

The Economic Times

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Rapido's early backers look to sell shares worth Rs 100 crore

Angel investors are offloading Rapido shares worth Rs 100 crore as part of a larger $730 million funding round. Swiggy, an early investor, has fully exited its stake. The deal aims for a $3 billion valuation, though some investors are pushing back on pricing.

The Economic Times

Tata Electronics onboards Malaysian cleanroom specialist IAQ Group for Dholera fab

Tata Electronics has partnered with Malaysian cleanroom specialist IAQ Group for its upcoming semiconductor fab in Dholera. This collaboration aims to ensure the facility meets stringent cleanroom standards, a critical factor for semiconductor manufacturing. IAQ Group's expertise will be crucial for timely execution and de-risking the cleanroom readiness bottleneck.

The Economic Times

India key to Mercedes’ technology stack, autonomous-driving ambitions: CTO Jörg Burzer

Mercedes-Benz is significantly leveraging its Indian R&D center in Bengaluru for its biggest software transformation to date, MB.OS, which will power future S-Class models and other vehicles. This proprietary operating system, designed with AI integration, is crucial for the automaker's shift towards software-defined platforms and autonomous driving ambitions.

The Economic Times

Pet care firm Vetic raises $40 million led by Bessemer Venture Partners

Vetic, a pet care startup, has secured $40 million in funding. This investment will fuel the expansion of its clinic network, adding 25 new centers in major Indian cities. The company aims to integrate consultations, diagnostics, pharmacy, and grooming onto a single platform. Vetic also plans to enhance its technology…

The Economic Times

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Fintechs bet big on corporate bonds as retail participation surges

Retail investors are increasingly participating in corporate bonds, with monthly investments surging to Rs 1,500-2,000 crore. This growth is driven by increased advertising, investor education, and a wider range of issuers. Fintech platforms are actively expanding their offerings in this segment, recognizing bonds as a significant growth opportunity.

The Economic Times

IDBI Bank share price rockets 19%. What’s triggering the massive surge?

IDBI Bank shares rose sharply on Wednesday, extending a four-session rally amid heavy trading volumes and renewed optimism around the lender’s long-delayed privatisation process. Reports that the government is exploring ways to revive stake-sale discussions, coupled with improving asset quality and strong net interest income growth, boosted investor sentiment.

The Economic Times

Shiv Sena (UBT) split row deepens as Sanjay Raut alleges Maharashtra MPs offered Rs 50 crore each to switch sides

Sanjay Raut alleges a Rs 50 crore "Minimum Support Price" for poaching MPs, with Rs 15 crore as an advance, amid speculation of a Shiv Sena (UBT) split. He challenges potential defectors to resign and seek a fresh mandate, questioning the health of democracy if elected representatives can be induced…

The Economic Times

$2.75 trillion mcap SpaceX rockets past Amazon with 66% stock surge in 3 days

SpaceX's market valuation surged past Amazon and briefly exceeded Microsoft's on Tuesday, driven by intense trading in its newly listed option contracts. The company's shares jumped significantly above its IPO price, reflecting investor confidence in its diverse business ventures. This rapid ascent places SpaceX among the world's most valuable companies.

The Economic Times

Zydus Lifesciences shares fall 2% as firm acquires US-based Assertio Holdings for $166 million

Zydus Lifesciences' shares dipped 2% after completing the $166.4 million acquisition of US-based Assertio Holdings Inc. The deal, finalized through a subsidiary, makes Assertio a wholly-owned entity, bolstering Zydus's specialty and oncology supportive-care therapies pipeline. This strategic move aims to enhance the company's innovative drug offerings.

The Economic Times

Ola Electric files application to settle Sebi probe over false information allegations

Ola Electric and founder Bhavish Aggarwal have approached Sebi to settle allegations of disseminating false information to inflate stock prices. The company seeks an amicable closure without admitting guilt, following Sebi's notice regarding discrepancies in service network expansion, sales figures, and electric motorcycle rollout timelines.

The Economic Times

Inside Cursor's journey to a $60 billion deal with Elon Musk’s SpaceX

SpaceX has acquired AI coding assistant Cursor for $60 billion in an all-stock deal, significantly bolstering its AI ambitions. This move positions SpaceX strongly in the AI coding tools segment, competing with giants like OpenAI and Anthropic. Cursor, cofounded by Indian-origin entrepreneur Aman Sanger, boasts substantial annual revenue and a…

The Economic Times

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The Economic Times

Trackk enters broking as wealthtech startups chase Gen Z investors

Gen Z-focused investment platform Trackk is now venturing into broking, offering equity and F&O trading. Shifting from its previous sub-broker role, the platform aims to build its own financial infrastructure to better serve its young user base. Trackk targets 500,000 accounts in the next year, focusing on first-time investors.

The Economic Times

Pocket FM begins reverse flip talks; eyes potential India IPO

Audio entertainment startup Pocket FM is reportedly in discussions to shift its holding structure back to India, signalling potential plans for a domestic public listing. This move follows rival Kuku Technologies' formal steps towards an IPO, intensifying focus on India's growing audio and mobile-first storytelling market.

Cinemablend

Do I Love A Doomsday Cast Member Talking About How Obsessed They Are With Being On Set With Robert Downey Jr? Yes, I Do

Who wouldn't?

The Economic Times

Amazon Now to launch 100 large fulfilment stores in key markets ahead of Prime Day

Amazon Now is launching 100 large fulfillment centers across major Indian cities, significantly expanding its product assortment beyond daily essentials to include electronics and other everyday items. This strategic move aims to deliver products in 10-20 minutes, bolstering its presence in the rapidly growing quick commerce sector ahead of its…

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The Economic Times

South Park Commons backed Maya Research wants to build a voice interface that speaks like a local

Maya Research is developing conversational AI models designed to speak and respond like native speakers across languages and cultural contexts, aiming to serve the next four to five billion internet users.

The Economic Times

Zerodha, Groww, Angel One, Upstox get Gift City nod to offer US stocks to Indian investors

Leading Indian fintechs Groww, Zerodha, Angel One, and Upstox have secured licenses from IFSCA to offer international equity investing to Indian retail traders. Groww and Upstox obtained Global Access Provider (GAP) licenses, while Zerodha and Angel One became broker-dealers, enabling direct or indirect access to US stock markets.

The Economic Times

Hari Menon exits BigBasket; Sarvam cofounder on fresh funding

BigBasket's longtime leader Hari Menon has stepped down as CEO. This and more in today's ETtech Top 5.

The Economic Times

BigBasket CEO Hari Menon steps down; Amazon veteran Amit Nanda takes over

BigBasket CEO Amit Nanda: Tata-owned BigBasket founder Hari Menon has stepped down from the CEO role at the e-grocery firm, the company announced on Tuesday. Amazon veteran Amit Nanda, the director of selling partner services at the ecommerce major, will be taking over as the chief executive.

The Economic Times

Sarvam: When US slams the door, India begins to find its own opening

Sarvam AI’s rise to a $1.5 billion valuation after raising $234 million marks a major milestone for India’s push toward AI sovereignty. The funding comes shortly after the U.S. restricted foreign access to some of Anthropic’s most advanced AI models, highlighting the risks of relying on foreign-controlled AI technologies.

The Economic Times

ETtech interview: AI is a capital game; our fundraise is large for India but quite small in the global context: Sarvam cofounders

In an interview with ET, Sarvam cofounder Pratyush Kumar said Sarvam — which counts HCLTech, Bessemer Venture Partners, Peak XV, Khosla Ventures, and Lightspeed among its backers — expects to be in a “constant cycle of building bigger models, raising more capital, and scaling up.” The company is also looking…

The Economic Times

Purplle pauses fundraising talks as founders bag Rs 90-100 crore stake

Beauty retailer Purplle has paused fundraising talks due to valuation disagreements, while founders are buying back shares at a valuation of about Rs 11,300 crore. The company is focusing on its in-house brands and aggressive offline expansion, aiming for a valuation reflecting its rapid growth.

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