Sensex crosses 58,000 for first time, Nifty at fresh record high of 17,300
Indian benchmark indices opened at fresh all-time highs amid mixed global cues. The Sensex jumped over 200 points during early trade to cross 58,000 for the first time, while the broader Nifty 50 jumped over 60 points to cross the 17,300-mark. Kotak Mahindra Bank, Titan, Reliance Industries and IndusInd Bank were among the top gainers.
Hurun India released its ‘Hurun India Future Unicorn List’, lists top 10 Indian startups that could be future unicorns
Hurun India has debuted its ‘Hurun India Future Unicorn List’, listing the top 10 Indian startups that could be future unicorns or startups valued at more than $1 billion. The 10 startups are Zilingo, Mobile Premier League, Rebel Foods, Cure.Fit, Spinny, RateGain, Mamaearth, CarDekho, Grey Orange and MobiKwik. India is home to 51 unicorns, up by 25 in 2021, it added.
COO, CFO of Karvy Stock Broking arrested in ₹137-crore IndusInd Bank default case
The Hyderabad Police has arrested the chief operating officer and chief financial officer of Karvy Stock Broking for alleged involvement in the ₹137 crore loan default case. COO Rajiv Ranjan Singh and CFO G Krishna Hari were arrested based on a complaint raised by IndusInd Bank. Last month, the police arrested Karvy’s Chairman C Parthasarathy in the case.
Razorpay looks to raise up to $250 mn at $4 bn valuation
Fintech unicorn Razorpay is in talks with large global funds to raise $200 million to $250 million, Mint reported. It is in talks with Tiger Global Management, Coatue Management, D1 Capital Partners, the report said. Razorpay, which was valued at $3 billion after raising $160 million in its Series E round in April, is reportedly eyeing a $4 billion valuation.
3 IIM alumni to make $500 million each from sale of payments firm BillDesk to Prosus
Three IIM alumni, who co-founded BillDesk in 2000, will make around half a billion dollars each from their combined 31% stake in BillDesk after Prosus’ $4.7-billion acquisition. However, MN Srinivasu, Ajay Kaushal and Karthik Ganapathy said they’ll remain a part of the payments company.