Business news India: Latest India business news headlines today 11 November 2021
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Here’s today business news, the latest business news India today 11 November 2021.
- Anil Goel has been appointed as the President of the technology division of Byjus.
- CoinDCX announced the appointment of Mridul Gupta as COO. An IIT Delhi engineering graduate, Mridul was previously with Pine Labs as Chief Strategy Officer.
- Unnati Agri, a fintech-driven agriculture service platform, has raised ₹60 crores in a Series-A funding round led by Incofin Investment Management, Orios, and Nab Ventures.
- A millet snacks maker, Troo Good, is reported to have raised ₹55 crores in a Series-A funding round led by OAKS Asset Management investment firm.
- A platform for discovery and savings in offline retail, Magicpin, has raised $60 million in a Series-D round of funding led by Zomato along with participation from Lightspeed Venture Partners and others.
- Xpand, a last-mile distribution provider, is said to have raised $1.5 million in pre-Series A funding round from several HNIs. The round was led by Akash Prakash (CEO of Amansa Capital).
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- Zomato, as per reports, will invest $1 billion in various startups in the next two years and is planning to turn towards a platform play.
- Hero Lectro, the electric bicycle brand of Hero Cycles, has increased the price of its cycles and other products and their models by up to Rs 5000 to offset the impact of freight costs and rising input material.
- The investor services of Moody’s have upgraded the credit rating of Yes Bank from B3 to B2 after seeing improvement in the financial health.
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- Kotak Mahindra Bank has completed the process of acquisition of a 10% stake in KFin Technologies for approx Rs 310 crores.
- Nykaa has observed the doubling of its market value to over $1 trillion in the stock market debut. The shares of the company rose to 96% over its IPO price from Rs 1125 to Rs 2207.
- Bank of Baroda has witnessed a 24.4% increase in its net profit from Rs 1679 crore in Q2 of FY21 to Rs 2088 crore in Q2 of FY22.
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