Bullets

Manish Chopra, Meta India’s Head of Partnerships and Director, has decided to resign. After holding the fort at Meta for 4.5 years, Manish is now looking for a new phase in his professional life.

This is not the first time a chief position holder at Meta has stepped down. Meta’s India head Ajit Mohan and Whatsapp Head Abhijit Bose, also resigned last November.  

Am I the only one curious about what’s happening behind the scenes at Meta?🤔

The troubled $69 billion deal between Microsoft and Activision is now finally going to see the light of day. While UK competition regulators were opposed to the deal going through, the European Union has allowed the acquisition.

Problems seem to revolve around the phenomenon of "exclusive titles", which allow certain video games to be released on specific platforms only. One of the biggest video game producers getting acquired and limited to one platform could negatively affect the consumers' interests.

Cipla is bidding adieu to its stake in Saba Investment, UAE. They're handing over their 51% ownership to Shibam Group Holding, UAE. Sayonara, subsidiaries! 🙋‍♂️

Cipla Middle East Pharmaceuticals FZ LLC and Cipla Medica Pharmaceutical and Chemical Industries will no longer be Cipla's sidekicks. But fear not, Cipla's not vanishing, they're revamping their game. 

Be prepared for a pharma rollercoaster of change as Cipla is ready to serve you with a fresh business model.
 

As part of laying off around 27,000 employees globally, Amazon India is now leaving 500 employees in the dust.

As per CEO Andy Jassy’s announcement in late March, employees from Amazon Web Services (AWS), Human Resources and multiple functions are targeted. This decision can also be the result of the slow growth the Seattle-based company is witnessing in its e-commerce business in India.

Seems like Amazon India will be delivering bad news instead of happiness today!

Guess who's joining the engineering game? 🏏

Cricket legend Sachin Tendulkar has stepped up to the plate, making a sizzling strategic investment in AZAD Engineering. While the exact investment amount remains a secret, Tendulkar's involvement allows AZAD Engineering to power up its dedication to the “Make in India” and “Atmanirbhar Bharat” initiatives.

With this unexpected collaboration between sports and engineering, let’s see how big they score in the world of innovation!

Separating its pharmaceutical business, Sanofi plans to demerge in its wholly-owned subsidiary, Sanofi Consumer Healthcare India. As a sign of a decision well made, Sanofi India’s plans to demerge its consumer healthcare business have boosted its stock prices.

The announcement has increased their stocks by 12%, making investors satisfied with the plans.

Focusing to improve its Diabetes business, this demerger seems like a sweet success for Sanofi!

Hero Electric, a prominent Indian electric two-wheeler manufacturer, plans to go public by 2025-26.

Its goal is to achieve a sales target of 2 million vehicles in the next 3-5 years. They plan to expand their production and sales network to reach the ambitious targets.

With the increasing demand for eco-friendly transportation, they are in a favourable position to capitalize on this trend. Will their plans electrify investors and spark a new wave of interest in the company?

The Board of Directors accepted the proposal to raise ₹12,500 Crore for Adani Enterprises & ₹8,500 Crore for Adani Transmission Ltd. The fundraising would be accomplished by issuance of shares through the Qualified Institutional Placement (QIP) route.

The approval to raise funds will likely boost investors’ confidence regarding the company’s future prospects. It also proves the group’s ability to handle its debt.

Is this funding a “We Are Back” message from the Adani group & companies?

SoftBank had a good run in India, but it seems like the investment company is ready to say goodbye to the country. After reducing its stake in Alibaba and Delhivery, Softbank is now making a withdrawal from Paytm.

The Japanese investment firm has reduced its stake in the fintech player by 2.07%, selling 13,103,148 shares. SoftBank's stake in the company has gone from 13.27% to 11.17%.

How India startups feel as investors jump ship:

India’s EdTech major, Byju’s, has secured $250 million in fresh funding from Davidson Kempner as part of a $700 million fundraise.

The funding will aid the repayment of a $1.2 billion term loan, providing much-needed support to the world’s most valuable EdTech startup.

By relying on external funding to repay their massive term loan instead of addressing their internal financial issues, is Byju's taking the easy way out?

After stoking speculations of another change, Elon Musk has crowned Linda Yaccarino as Twitter’s new CEO. NBCUniversal’s former head of advertising, Yaccarino will take on her responsibilities in six weeks.

Meanwhile, Musk will be the executive chairman & take on the position of CTO (Chief Technology Officer). Musk believes this decision is another step in making Twitter into X, their everything app.

Whether Linda’s expertise in advertising help Twitter surpass its profitless phase would become clear with time!

Hyundai is revving up EV production in India with a ₹20,000 crore investment over the next 10 years.

The automaker plans to increase output at its Chennai factory, set up a battery pack assembly unit with an annual capacity of 178,000 units, and install 100 EV charging stations across Tamil Nadu in the next five years.

Hyundai is driving full speed ahead to modernize its vehicle platform. Let’s see if it reaches its destination or crashes midway!

Conquering the ONDC platform with a third of total orders, Paytm is now heating the market by planning to forego its 3% commission. As a buyer app, Paytm will remove the commission on orders fulfilled by sellers with no customer complaints.

This step will boost orders paid by Paytm as well as increase competition for platforms like Zomato & Swiggy. 

Looks like the ongoing decline in Zomato & Swiggy’s orders will soon see another steep dive.📉

Vanguard, a US investment company, has reduced the valuation of the ride-hailing firm Ola by 35%, from $7.4 billion to $4.8 billion. 

Vanguard's share value in Ola fell to $203.78 from $314.58.

After making an exit from the verticals like food & grocery delivery and second-hand car marketplace, the company has decided to focus just on their keystone ride business.

It seems like the investors have lost faith in Ola's ability to succeed in the cutthroat market.

Taiwanese multinational tech company Foxconn has recently bought a 300-acre land worth ₹300 crore on the outskirts of Bangalore. The purchase was made on May 9th, and the possession will be transferred after the May 10th elections.

The purchase was made by Foxconn's subsidiary entity, Foxconn Hon Hai Technology India Mega Development, and is a part of Foxconn's "Project Elephant".

Employment opportunities for the country are nice and all, let's just hope "the sweatshop effect" does not follow the company.

After a difficult year, Adani seems to have found a way out of the financial crunch. On May 13th, the company’s board is approving a proposal for funding from the public market.

To raise funds, issuing equity shares, private placement, qualified institutional placement, or preferential issue are being considered.

Hindenburg revealing Adani Enterprises' stock manipulation & accounting frauds have cost the company a ₹20,000 crore follow-up public offering.

Will the new funding help Adani find its footing again?

JSW Infrastructure, a port business owned by JSW Group, has submitted its DRHP to SEBI for an IPO worth ₹2,800 crores.

They offer services related to ships and the transportation of goods, such as loading and unloading cargo, storing goods, and helping with logistics. They are working towards becoming a company that offers a complete range of logistics solutions.

JM Financial will be the lead banker for this fresh issue.

One-and-only foreign social networking company in China, LinkedIn, has decided to shut down its job-based app, InCareer. 9th August is the set date for InCareer’s exit from China market.

After its exit from China in 2021, LinkedIn is closing its last connection with the country. Plus, LinkedIn is slashing 716 employees due to slow revenue growth & a shift in consumer behaviour. 

Removing over 700 employees & shutting down a popular job-posting platform, LinkedIn did a number on China.

Mankind Pharma, which was oversubscribed by 15.32 times, got listed on the exchange today at a 20% premium to the issue price.

The Initial Public Offering worth Rs 4,326 crore was one of the largest IPOs of 2023 up to this point. It is the second largest by a local pharmaceutical company since Gland Pharma's issue of Rs 6,480 crore in 2020.

The pharmaceutical industry's baby step has paved the way for a giant leap for Mankind.

Geological Survey of India (GSI) officers recently claimed that Lithium reserves have been traced in Rajasthan. According to these claims, the newfound reserves are larger than the ones recently found in Jammu and Kashmir.

The reserves, if they turn out to be as abundant as they are thought to be, could substitute 80% of India's demand for lithium. India imported around ₹6,000 crore in 2021-22 with China contributing around ₹3,500 crore.

Even Indian geography wants to go China Plus One!