Walmart-backed e-commerce powerhouse Flipkart is setting the stage to further monetize its early bet on logistics tech provider Shadowfax Technologies. The e-commerce major is preparing to offload a...
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AI-curated summaries
Flipkart, an e-commerce company backed by Walmart, is planning to sell a significant portion of its stake in logistics provider Shadowfax Technologies through an open-market block deal worth between ₹700 crore and ₹750 crore. The transaction is expected to take place in late July 2026, after the mandatory six-month post-IPO lock-in window expires. This marks Flipkart's second exit from Shadowfax, as part of a broader strategy to preserve cash and reduce its monthly burn.
The Indian government is reportedly close to accepting a revised financial offer from Fairfax Financial Holdings for the privatisation of IDBI Bank, a 60.72% controlling stake in the bank. The sale would give the buyer management control of the bank and the opportunity to reshape its long-term strategy. The transaction still requires approvals from the Union Cabinet and the Reserve Bank of India.
Cloudnine, a maternity-focused hospital chain in India, has evolved into an integrated women and child healthcare platform, attracting global private equity firms and a potential valuation of over $1 billion. The company's strategic execution, including acquisitions and focus on core business, has helped transform it into a scalable healthcare platform. Cloudnine's model, which concentrates on specialized clinical areas, offers advantages such as improved clinical outcomes, patient trust, and operational efficiency.
HCLTech, India's third-largest IT company, has reported its highest quarterly net profit of ₹4,624 crore in Q1 FY27, a 20% year-on-year increase. The company has also made significant investments in AI technology, committing ₹1,427 crore to acquire a 10.5% stake in domestic AI startup Sarvam AI and ₹3,500 crore to build its own data centre infrastructure. These moves are part of the company's transformation into a more technology-driven business, competing in AI, compute infrastructure, and domestic semiconductor manufacturing.
The Aditya Birla Group has agreed to acquire Sprng Energy, Shell's India-focused renewable energy platform, in a $1.8 billion transaction. The acquisition will expand Aditya Birla's renewable energy portfolio to around 9.3 GW, making it a major player in India's renewable energy sector. The deal is expected to provide the group with greater energy security, lower long-term energy costs, and improved sustainability credentials.
Motilal Oswal and Raamdeo Agrawal, co-founders of Motilal Oswal Financial Services Ltd (MOFSL), are transitioning the company to the next generation while aiming for a tenfold growth in profits over the next decade. The 39-year partnership between the two has been built on trust and a complementary division of labor, with Oswal managing operations and Agrawal driving investment research and client advisory strategies. The next generation, including Oswal's son Pratik and Agrawal's son Vaibhav, have been inducted onto the MOFSL board to absorb the group's operational philosophy.
