Here’s today business news, the latest business news India today 27 July 2021.
- Trifecta Capital has reportedly raised $130 million from domestic investors for the first close of Trifecta Leaders Fund-I, its maiden late-stage VC fund.
- Mamaearth is reported to have closed its latest $50 million funding round led by Sofina Ventures SA. Sequoia Capital India, its existing investor, also participated in the round.
- MyGlamm, a D2C beauty brand, has reportedly closed its Series C round of funding at Rs.530 crores, raising an additional Rs.355 crores in a funding round led by Accel.
- HCL Technologies announced to have been selected as a launch partner for Microsoft Cloud for Financial Services.
- Neeraj Mohan, ex-MD and operating partner at Blackstone India, has reportedly joined EY. He will head India operations of EY-Parthenon, EY’s strategy consulting arm.
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- Sebi reportedly wants all PE and VC funds raising money to hire investment banks. Fund houses are said to be trying to push back the proposal.
- As per rating agency Icra, Indian auto component industry is expected to post a 20-23% revenue growth in the current fiscal.
- India’s top six steelmakers are set to produce speciality steel within the first year of the announcement of this scheme, Union steel minister RCP Singh told ET.
- CarTrade, a multichannel auto marketplace, is said to have received Sebi’s approval for Rs.2000 crores IPO.
Latest business news India today 27 July 2021 – business news India today
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- BDR Pharma is reported to have signed an agreement with DRDE and INMAS to manufacture, distribute and market covid-19 drug 2-DG.
- Byju’s is reported to have acquired Great Learning, a Singapore-based firm, for $600 Million. It is also said to have bought Toppr for $150 Million.
- United Spirits has reportedly sold its stake in Hip Bar, a tech start-up, for around Rs.52 lakhs. It had invested Rs.27 crores in the firm around three years back.
- Vedanta Limited reported over four-fold jump in its consolidated profit after tax to Rs.4,280 crores during April-June 2021 quarter.
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