Edtech startup Sunstone, which focuses on higher education, on Friday said it has raised USD 35 million, about Rs 280 crore, in a funding round led by WestBridge Capital.

The funding round also saw participation from Alteria Capital.

Founded by Ashish Munjal and Piyush Nangru in 2019, Sunstone had raised USD 28 million in Series B in October 2021.

The Adani Group, led by billionaire Gautam Adani, has received capital markets regulator Securities and Exchange Board of India’s (Sebi) approval for a $3.8-billion (Rs 31,139 crore) open offer for Ambuja Cements and ACC. This will be the largest open offer in India's corporate history, which will launch on August 26, concluding on September 9.

The mandatory open offer, triggered after Adani's acquisition of Swiss major Holcim's stakes in Ambuja and ACC respectively in May, will see the group offer Rs 385 per share for 26 per cent stake in the former and Rs 2,300 a share for a similar stake in the latter.

Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore.

The due date for payment was August 17, 2022, FEL said in a regulatory filing.

"The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on August 17, 2022," it said on Thursday.

India saw a single day rise of 12,608 new coronavirus infections taking the total tally of COVID-19 cases to 4,42,98,864, while the active cases declined to 1,01,343, according to the Union Health Ministry data updated on Thursday.

The national death toll climbed to 5,27,206 with 72 fatalities, including 29 fatalities by Kerala, the data updated at 8 am stated.

Private sector bank major HDFC has opened its first all-women branch in north Kerala region in Kozhikode.

The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers.

This adds to all-women branches opened by the Bank in southern India and takes forward the bank's inherent values of diversity and inclusion, a statement said here.

Bharti Airtel received spectrum allocation letter within few hours of making upfront payment to the Department of Telecom, Bharti Enterprises founder and chairman Sunil Bharti Mittal said on Thursday.

This is the first time ever that the Department of Telecom (DoT) has handed out a spectrum allocation letter on the day of making upfront payment.

Fintech unicorn Razorpay has acquired Ezetap, India’s leading offline Point-Of-Sale (POS) company which was founded with the aim of simplifying the in-person offline payments experience. The value of the transaction is around $200 million, according to sources.

The acquisition enables Bengaluru-based Razorpay’s foray into offline payments. With this acquisition, Razorpay will be one of the few companies across the world with a significant online and offline presence in payments. This marks Razorpay’s sixth and biggest acquisition thus far.

SoftBank-backed Food delivery giant Swiggy said it has appointed Rohit Kapoor as Chief Executive Officer, Food Marketplace. In his role, Kapoor will drive the food delivery business and be responsible to develop strategies, drive growth and fostering innovation.

“Our food marketplace has continued to evolve over the last few years and has the potential to grow further under focused leadership. Rohit’s (Kapoor) work experiences bring a unique perspective to the role,” said Sriharsha Majety, CEO, Swiggy.

The Union Finance Ministry contributed more than Rs 900 crore to COVID vaccine development under 'Mission COVID Suraskha' resulting in India becoming a leader in vaccine production, said a top official.

Sajjan Kumar Yadav, IAS, who is serving as the Additional Secretary, Expenditure Department at the Ministry of Finance, wrote a book named India's Vaccine Growth Story - From Cowpox to Vaccine Maitri. The book was launched on Wednesday at an event attended by Union Finance Minister Nirmala Sitharaman.

Seeing improvements in the industrial environment Foxconn Chairman Young Liu said that the company would expand in India, reported Economic Times. Liu said that enhanced government efficiency will also play a crucial role, highlighting the growing importance of Taiwan in the global market as the world's largest contract manufacturer amid rising tension with China.

In an investor call last week, Liu said that India will play an important role in the future.

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