Britannia’s market share focus could pay off in 2025
All this while, the FMCG major worked towards maintaining its market dominance at the cost of profit margins. It is now poised to reap the benefits of this strategy.
The Morning Context
India’s fledgling CO2 removal business remains a wild bet
Alt Carbon, Varaha and a handful of local firms in the carbon dioxide removal space face multiple obstacles, chief among them being poor demand owing to the prohibitive cost of their solutions.
In Mobikwik’s IPO, the public investor is taking a VC-style risk
The fintech company is looking to rebuild its financial services business from scratch amid strong regulatory headwinds and will use the IPO’s proceeds to do so.
Pledge agreements show Adani Green could have breached loan covenants
Pledge agreements show Adani Green could have breached loan covenants. Adani Green Energy Ltd (AGEL) faced allegations that could constitute an Event of Default under its loan agreements, partly due to an investigation related to Gautam Adani and others. The agreements contain a representation that the borrower is not subject to any investigation that could materially and adversely impact its ability to fulfill the terms of the deal. The article discusses UK holding structures and the potential fallout.
SEBI likely to investigate Adani Green Energy for false disclosure
In March, the company told stock exchanges that it was not aware of any investigation against it in the US. The DoJ indictment unsealed on Wednesday says this is not true.
With L&T deal, AI cloud provider E2E Networks is at a turning point
The 15-year-old cloud services provider has raised a hefty sum, thanks to a timely shift to an AI-first approach. It’s now gearing up for opportunities beyond the private sector amid intensifying competition. In the past four months, E2E Networks has raised more money than it ever did in the 15 years of its existence. Last week, infrastructure major Larsen & Toubro decided to acquire a 21% stake in E2E for Rs 1,407 crore.
NBFCs’ supply-chain finance offerings face possible RBI restrictions
An industry letter to the central bank has sought clarification on the regulator’s advice to some NBFCs to cease or modify their supply-chain finance products. The Reserve Bank of India is likely rethinking its stance on supply-chain finance products sold by non-banking financial companies. According to a letter addressed to the RBI by the Finance Industry Development Council, the central bank has advised some NBFCs to stop offering certain supply-chain finance products or modify them.
RBI’s crackdown on P2P lending casts a cloud over MobiKwik’s IPO plans
As investors in MobiKwik’s P2P lending scheme cry foul over the handling of an RBI rule change, uncertainty looms over the fintech company’s lending business—its strongest growth driver. Many users of a lending scheme offered by MobiKwik are rattled. The Gurugram-headquartered digital payments company, which earlier allowed “anytime withdrawals”, seems to have locked in their investments after the central bank changed a key rule.
Robin Raina’s Eraaya-Ebix deal is a train wreck
Robin Raina’s Eraaya-Ebix deal is a train wreck. The article mentions “HYPE” and discusses the deal, including the curious case of Vitasta Software. Questions are raised about where the CFO is, labeled as “ACPO AWOL”, and the source of money, mentioning the Oppocrates Fund, FPCCC, and Capital. The situation is described as “All tangled up”.