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Blume Ventures announces closing its fund for start-ups at $250 mn

Blume Ventures, the homegrown venture capital firm focused on early-stage technology start-ups, said on Wednesday it has closed its Fund IV at more than $250 million. The company’s assets under management (AUM) stand at over $600 million.

The fund, which was oversubscribed compared to its initial $200 million target, will invest in some 35 companies in edtech, fintech, health, commerce, and consumer internet. It is also considering investing in businesses dealing with robotics, artificial intelligence, SaaS and enterprise software.

Triveni Engineering promoter likely to sell 7.03% stake via block deal

Sugar firm Triveni Engineering & Industries Ltd's promoter Dhruv Sawhney is likely to sell a 7.03 percent stake, approximately 1.7 crore shares, via block deals on December 8, CNBC Awaaz reported on December 7 citing sources.

The promoter is aiming to sell shares worth Rs 500 crore at Rs 280-Rs 285 per share, which is at around 3 percent discount from its current share price

Princeton Digital Group launches $300 million data centre in Mumbai

Princeton Digital Group (PDG) on Wednesday launched its flagship data centre called MU1 in India with an investment of $300 million. The data centre at Airoli, Navi Mumbai, provides 48 MW of critical IT capacity across two buildings and has achieved the 'IGBC Platinum' certification, which is the highest standard of green buildings certification.

NHPC appoints Mohammand Afzal as govt nominee director on its board

State-owned hydro power giant NHPC on Wednesday said its board has appointed Mohammad Afzal as government nominee director from December 6, 2022.

"Board of Directors through resolution by circulation passed on December 6, 2022, has appointed Mohammad Afzal as Government Nominee Director on Board of the Company from December 6, 2022," a BSE filing said.

Vodafone Idea's fundraising put on hold as govt delays equity call

Vodafone Idea’s (Vi’s) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi’s much-needed Rs 1,600-crore fundraising plan got stuck due to the government’s silence on picking up a proposed 33 per cent equity in the financially stressed telco.

The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.

Byju's seeks easier terms on $1.2 bn loan as it struggles with losses

Indian online-education provider Byju’s is seeking to restructure its $1.2 billion loan as it struggles with steep losses and cost reduction targets, according to people familiar with the information.

The nation’s most valuable startup, valued at $22 billion, has appointed an adviser to discuss tweaks in covenants of the term loan B with creditors, the people said, asking not to be named as the information is not public. Discussions on more lenient terms, including lower coupon and more time to repay, are continuing and no final decision has been reached, one of the people said, without providing further details.

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