SUMMARY In an adjudication order, SEBI said it found the company in violation of Schedule IX of ICDR rules A key basis of the penalty was the disclosures brought forth in the Hindenburg report as well as a ‘letter of displeasure’ issued by the RBI against the company EbixCash and Ebix Singapore Pte have been directed to pay the penalty within 45 days The Securities and Exchange Board of India (SEBI) has slapped a total fine of INR 6 Lakh on troubled fintech company Ebix’s two entities for misrepresentation of facts and disinformation in its IPO documentation. In an adjudication…
Author: DF Manager
What is an AI Boom? Dozens of massive data centres humming at the outskirts of Dublin are consuming more electricity than all of the urban homes in Ireland and starting to wear out the warm welcome that brought them here. Now, a country that made itself a computing factory for Amazon, Google, Meta, Microsoft and TikTok is wondering whether it was all worth it as tech giants look around the world to build even more data centres to fuel the next wave of artificial intelligence. AI is also used to make business personal. Fears of rolling blackouts led Ireland’s grid…
The Adani Group has announced plans to invest $2 billion in acquiring ports in Europe, reported The Hindu. This move is part of their strategy to expand their international presence and boost their market share in global sea trade. The company’s flagship, Adani Ports & Special Economic Zones Ltd., is actively scouting for terminals in Europe, which accounts for 40% of global sea trade. Key Points:Target: Two or three terminals in EuropeMarket Share: Currently holds a 27% market share in India, aiming to increase it to 40% by 2030.Expansion: The company already has ports in Sri Lanka, Israel, Australia, Tanzania,…
Continuing its rally for the third consecutive trading session, shares of BlackBuck’s parent Zinka Logistics Solutions Ltd surged as much as 10% to hit its upper circuit of INR 499.05 on the BSE today (December 19). However, the stock pared some gains to end the day’s trading session 9.5% higher at INR 497 on the BSE. The company’s market capitalisation stood at INR 8,770.99 at the day’s session end and as many as 11.05 Lakh shares traded during the day. The stock has given a return of 13.85% in the last five sessions, far surpassing the BSE’s negative return of…
🎉 Re-Live’24 – The Hustlers Party 🥂 As 2024 comes to an end, it leaves behind a legacy of lessons, victories, and moments we’ll never forget. This has been a year of growth, resilience, and innovation, shaping our journeys in unique ways. 🚀 Join us as we come together to reflect on the year’s experiences, celebrate our shared triumphs, and set our sights on a brighter, more impactful future. It’s time to Re-Live’24, honor the moments that made us stronger, and connect with like-minded hustlers in the ecosystem. Event Highlights:✨ Year-End Reflections & Networking✨ Celebrate Achievements of 2024✨ Plan for…
In an era dominated by live-streaming and online competitions, one Chinese man has taken things to the extreme. Using a staggering 400 mobile phones, he devised a strategy to increase his chances of winning gifts and prizes from live-streams. This highly unconventional setup has captured the attention of the internet, sparking debates on the ethics and ingenuity of his methods. The Ingenious Setup The man’s operation is nothing short of extraordinary: 400 Phones, 1 Goal Each phone is connected to a separate live-stream account, allowing him to interact with multiple streams simultaneously. The aim? To boost his odds of receiving…
Warmup Ventures, a founders-led fund, on Tuesday, announced the launch its second fund, Warmup Fund II, a SEBI registered category 2 AIF, with a corpus of Rs 300 crore. This fund will focus on deep-tech, climate and sustainability, and plans to invest Rs 5–7 crore each in 25-30 early-stage startups across sectors with a significant provision for follow-on rounds. Warmup Ventures founded by Sharad Bansal, an IIT Delhi alumnus; Rajendra Lora, an IIIT Jabalpur alumnus and Yogesh Chaudhary, Director, Jaipur Rugs. Over the past 5-6 years, the trio has backed over 100 emerging startups through their combined angel investments.Warmup Ventures…
For many startups, expanding into international markets is a significant milestone that opens up numerous opportunities and potential. However, stepping beyond familiar borders is a complex endeavor that requires thorough preparation.In addition to analyzing market potential and target audiences, startups must navigate several bureaucratic, legal, and tax-related formalities. A comprehensive understanding of these essential steps is crucial for ensuring the success of international expansion and maintaining long-term competitiveness.Understanding Local and International RegulationsOne of the first steps a startup must take before entering a new market is to understand and comply with local regulations. Each country has its own legal…
Ladies Who Lead (LWL), a members-only platform, has raised $1 million in a pre-Series A funding round led by Rainmatter, Nithin Kamath’s investment firm, with participation backing from the Family Office of Jayant Davar. The startup plans to use the raised capital to empower women professionals by expanding its ecosystem across India, enabling better resources, mentorship, and networking opportunities. Additionally, it will focus on scaling its operations, which are currently active in Delhi-NCR, Mumbai, and Bengaluru, to a national level. Empowering women to break barriers Founded in 2021 by Aabha Bakaya and Aditya Ghosh, Ladies Who Lead has…
Generative AI is toppling the business strategy & operational models of the enterprises and startups. In addition to executing well-defined tasks, GenAI is starting to address broader, more ambiguous problems. It’s not implausible to imagine that one day, a “GenAI strategist in a box” could autonomously develop and execute a business strategy. During my multiple conversations with several CXOs and startup founders who express such a vision — and they would like to embed GenAI in the business strategy and their operating models; here’s a sneak peek of the observations emanating from the conversations and the ensuing impact of GenAI…