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Purplle.com closes $140 mn Series D round adding Premji Invest to cap table

Online beauty platform Purplle.com has raised $65 million, bringing Premji Invest, the investment arm of Wipro billionaire Azim Premji, to the cap table. This investment comes weeks after a $75 million funding, led by Kedaara Capital, alongside Sequoia Capital India and Blume Ventures. The infusion will accelerate the company’s growth to build a multibillion-dollar company from India. The company said it has closed $140 Million Series D funding after the investment from Premji Invest. The funding is also expected to help Purplle compete with traditional players and online beauty platforms such as Nykaa, MyGlamm and Myntra.

Saudi Aramco eyes new investments in India after Reliance scraps deal

Saudi Aramco said it will continue to look for investment opportunities in India, days after Reliance Industries Ltd. scrapped a plan to sell a stake in its oil-to-chemicals unit to the Middle Eastern company. Aramco had signed a non-binding letter of intent in August 2019 for a potential 20% stake in Reliance’s oil-to-chemicals unit valued at about $15 billion. Reliance said the companies would walk away from the deal on Friday.

Promoters looking to up stake in Vedanta Ltd by upto 4.57%

Promoters of Vedanta Limited, Twin Star Holdings Limited and Vedanta Netherlands Investments B.V. are looking to purchase upto 170 million equity shares of Vedanta Limited at an indicative price of Rs 350 per share, valued at Rs 5,950 crore. The promoter group companies have a purchase offer size of up to 4.57 percent of total shares outstanding as of Sep-30, 2021. J.P. Morgan India Private Limited is acting as the broker to purchasers Twin Star Holdings Limited and Vedanta Netherlands Investments B.V.

RBI issues draft scheme for PMC Bank's takeover by Unity Small Finance Bank

The Reserve Bank on Monday came up with a draft scheme for the acquisition of Punjab and Maharashtra Cooperative (PMC) Bank by Delhibased Unity Small Finance Bank (USFB). The draft scheme of amalgamation envisages the takeover of the assets and liabilities of PMC Bank, including deposits, by the USFB, thus giving a greater degree of protection for the depositors, the Reserve Bank of India said.

JBM Auto surges 9% on stock split plan, up 62% in 11 trading sessions

Shares of JBM Auto surged 9 per cent to Rs 972.40 on the BSE in intra-day trade on Monday in an otherwise weak market after the company announced its plan for stock split from face value of Rs 5 to a lower denomination. The stock of auto ancillary company has zoomed 62 per cent in past 11 trading days. It had hit a record high of Rs 979.85 on Thursday, November 18, 2021. At 11:39 am; the stock was up 6 per cent at Rs 945, as compared to 1.15 per cent fall in the S&P BSE Sensex.

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