Author: News Desk

Bain Capital, a global private investment firm, has entered into definitive agreements to acquire joint control in Manappuram Finance, a Kerala-based non-banking financial company (NBFC). The investment will be made through Bain Capital’s affiliates, BC Asia Investments XXV Ltd. and BC Asia Investments XIV Ltd. Despite the new partnership, the existing promoters will continue to remain fully invested in the company. Investment Details As part of this strategic transaction, Bain Capital will invest ₹4,385 crore to acquire an 18% stake in Manappuram Finance on a fully diluted basis. The acquisition will be conducted through a preferential allotment of equity and…

Pramod Mittal, once among the wealthiest people in the world, is now a cautionary tale of how quickly fortunes can change. The younger brother of Indian steel magnate Lakshmi Mittal, Pramod was known for his lavish lifestyle and enormous financial empire. However, after years of extravagant spending and high-risk financial decisions, he found himself facing bankruptcy and legal troubles. The Early Success and Lavish Lifestyle Pramod Mittal was the chairman of Ispat Industries Limited, which later became JSW Ispat Steel, and was deeply involved in the steel industry, like his brother Lakshmi. At the peak of his career, Pramod’s net…

In 2008, Pankaj Chaddah and Deepinder Goyal left their high-paying jobs at Bain & Co to start FoodieBay, an online restaurant directory. Within months, it became the largest platform of its kind in Delhi-NCR. By 2010, the company rebranded to Zomato, expanding its services and attracting investments from major firms like Info Edge India, Sequoia, and Ant Financial. A $200 million investment from Ant Financial in 2018 helped Zomato achieve unicorn status. However, Chaddah left the company that same year. Chaddah’s Role in Zomato’s Growth As a co-founder, Chaddah played a key role in Zomato’s expansion beyond listings. Under his…

India’s high-net-worth individual (HNWI) population—those with assets exceeding $10 million—grew by 6% in 2024, reaching 85,698, according to Knight Frank’s Wealth Report 2025. This marks a significant jump from 80,686 in the previous year. The number is projected to rise further to 93,753 by 2028, reflecting India’s expanding wealth landscape. Billionaire Count Sees Rapid Growth India is now home to 191 billionaires, with 26 new additions in 2024 alone, compared to just 7 in 2019. The combined wealth of Indian billionaires is estimated at $950 billion, making India the third-richest nation after the United States ($5.7 trillion) and China ($1.34…

The Indian government has initiated pilot projects under the National Green Hydrogen Mission to introduce hydrogen-fueled buses and trucks. Announced on March 3, 2025, this initiative aims to promote clean energy and sustainability in the logistics sector. A total of 37 hydrogen-powered vehicles, 15 fuel cell-based and 22 internal combustion engine (ICE) vehicles, will operate across 10 routes. Additionally, nine hydrogen refueling stations will be established. Purpose of the Initiative The mission’s primary goal is to test and expand the use of hydrogen as a fuel in commercial transport. The pilot projects will assess vehicle performance, safety, and infrastructure needs, ensuring a smooth transition toward hydrogen-powered mobility. Industry Participation and Investment Leading companies…

Raj Sardana was born in 1960 to Punjabi parents who migrated to India during the Partition of 1947. He grew up in government housing in New Delhi, where his family lacked basic modern amenities like heating, air conditioning, or even a refrigerator. Despite financial struggles, his parents prioritized education, shaping his strong work ethic. Moving to the US with Just $100 In 1981, Sardana moved to the US to pursue a master’s degree in mechanical engineering at Georgia Tech. With only $100 in his pocket, he took up a job at the college cafeteria to support himself. His determination and perseverance…

One of Mumbai’s most iconic heritage properties, Laxmi Nivas bungalow, has been sold in a record-breaking real estate deal worth ₹276 crore. Located in the upscale Nepean Sea Road, this historic mansion is not just an architectural marvel but also a site of deep historical importance. Once a sanctuary for freedom fighters during India’s independence movement, the bungalow now finds new owners with a significant connection to Mukesh Ambani, India’s richest man. A Home with a Rich History Built in 1904 by a Parsi family, Laxmi Nivas later came under the ownership of the Kapadia family in 1917 for just…

The Dubai government has allocated Dh277 million in performance-based bonuses for civilian employees across various government departments. This decision, approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, follows the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai. Recognizing Excellence in Government Service Announcing the decision on X (formerly Twitter), Sheikh Hamdan emphasized the dedication and hard work of Dubai’s government employees. He praised their efforts in maintaining excellence and innovation in public service, reinforcing Dubai’s position as a global leader. Commitment to Continued…

After spending an unexpected nine months aboard the International Space Station (ISS), astronauts Sunita Williams and Butch Wilmore have returned to Earth and begun an intensive 45-day rehabilitation program. Originally meant to be on a short mission, the duo was stranded in space due to propulsion issues with Boeing’s Starliner spacecraft. Their prolonged exposure to microgravity has led to several physiological effects, making post-flight rehabilitation essential for a full recovery. Why Astronauts Need Rehabilitation After Spaceflight Extended stays in microgravity significantly impact the human body. Upon returning, astronauts often experience: To counteract these effects and help their bodies adapt to Earth’s…

Microsoft co-founder Bill Gates recently posted a video featuring himself with Indian cricket legend Sachin Tendulkar on Meta’s Instagram. In the short clip, the two icons are seen casually enjoying vada pav while sitting on a bench. The video ends with the intriguing caption, “Serving soon,” hinting at an upcoming project. However, no official details about their collaboration have been revealed yet. Captioning the post, Gates wrote, “A snack break before we get to work.” Bill Gates’ India Visit: Marking 25 Years of Impact Gates’ visit to India coincided with the 25th anniversary of the Bill & Melinda Gates Foundation. This…