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Posted On:
17-06-2024

Infinity Learn targets 6th-12th graders, aims to double revenue in FY25

Edtech firm Infinity Learn has increased focus on tapping 6th-12th grade students to expand user base following the government's restriction on physical coaching for those below 16 years, and the company expects to double revenue to Rs 400 crore this fiscal. Ujjwal Singh, Founding CEO of Infinity Learn by Sri Chaitanya, said the new rule that barred coaching centres from admitting students below 16 years has opened a new market for the company which already has a large user base of those preparing for all-India level engineering entrance exam JEE and medical entrance NEET.Singh said that the company expects to double revenue this fiscal to Rs 400 crore with expansion of its business both in India as well as overseas. "The new rule... is actually very helpful for us. Students can stay back home and attend online classes. We are addressing them. That is a new big market which has opened for years and this is the reason we have enhanced focus on grade 6-10," Singh said. The edtech firm is seeing growth in clusters likenorth-east, Ladhakh, and Jamu and Kashmir, he said.
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Posted On:
18-06-2024

Neeraj Arora quits Paytm, firm onboards ex-Sebi official Rajeev Agarwal

Former Chief Business Officer of WhatsApp Neeraj Arora has quit the board of the fintech firm One97 Communications, owner of Paytm brand, citing pre-occupation and personal commitments, a regulatory filing said on Monday. Arora had quit the Paytm board earlier in early 2018 but rejoined it before the company's IPO."The Board, at its meeting held today i.e., June 17, 2024, took note of the resignation tendered by Shri Neeraj Arora, Non-Executive Independent Director of the Company on account of pre-occupation and other personal commitments. He will accordingly cease to be a Non-Executive Independent Director, with effect from the closure of business hours on June 17, 2024," Paytm said in the regulatory filing.Arora was a key figure in negotiating the WhatsApp merger deal with social media major Facebook. He has co-founded his own social networking Hallo App and a venture capital firm Venture Highway. Paytm has onboarded former whole-time director of market regulator SEBI Rajeev Krishnamuralilal Agarwal as an independent director for five years.
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Posted On:
18-06-2024

Lupin appoints Abdelaziz Toumi as CEO of newly established subsidiary LMS

Global pharmaceutical company Lupin announced today the appointment of Abdelaziz Toumi as the Chief Executive Officer of its newly established subsidiary, Lupin Manufacturing Solutions (LMS). LMS will focus on the development, manufacture, and sale of Active Pharmaceutical Ingredients (APIs) while expanding into the Contract Development and Manufacturing Operations (CDMO) business. Abdelaziz Toumi, known as Abdel, brings over 20 years of experience in the biotech, pharma, and CDMO sectors. His career includes leadership roles at prominent companies such as Bayer, Merck, Catalent, Lonza, and KBI Biopharma. Throughout his career, Abdel has been recognized for driving growth, fostering innovation, and achieving operational excellence across Europe, North America, and Asia. Speaking on this, Nilesh Gupta, Managing Director of Lupin, stated, "We are delighted to welcome Abdel to our team. He brings a wealth of knowledge and experience in the API CDMO space and will be instrumental in establishing LMS as a trusted and preferred partner for our global customers."
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Posted On:
19-06-2024

More MNCs eye IPO route after passenger car major Hyundai Motor move

Passenger car major Hyundai Motor Company’s plan to list its domestic arm may prompt more multinational companies (MNCs) to consider listing their India arms. Investment banking sources said they were in early-stage talks with about half a dozen MNC firms, which are exploring options to list in India to unlock value and help the parent company raise capital. Without divulging any names, they said the road map followed by the Seoul-based automobile major is keenly eyed by other MNCs. “Talks are ongoing in the background with other MNCs. The Indian markets offer high valuations, robust liquidity, and access to all kinds of
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Posted On:
19-06-2024

Bosch joins the elite group of companies with mcap of Rs 1 trillion

Bosch has joined the elite group of companies with a market capitalisation (mcap) of Rs 1 trillion. This comes after the stock price of the auto ancillary company hit a new high of Rs 34,331.80 as it rallied 6 per cent on the BSE during Tuesday’s intraday trade. With Tuesday’s gain, the stock has recovered by 25 per cent from its low of Rs 27,500 on June 4. So far, in calendar year 2024, it has surged 55 per cent on a healthy growth outlook, compared to 7 per cent rise in the benchmark index.
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