Category: Corporate

Categories
Corporate

Jeff Bezos plans $100 bn AI manufacturing fund

Jeff Bezos is planning a major push into the manufacturing sector, with reports saying he wants to raise around $100 billion for a new investment fund focused on artificial intelligence (AI).

The idea is to use this fund to buy manufacturing companies and upgrade them with modern technology. By using AI, these firms could improve efficiency, cut costs and speed up production processes that are still largely manual or outdated.

Bezos is said to be in early talks with large global investors, including sovereign wealth funds and major asset managers, to raise money for the project. If successful, the fund could become one of the largest of its kind in the world.

The plan is to target key industries such as semiconductors, defence and aerospace — sectors where advanced manufacturing plays a crucial role. These industries are seen as important for future economic growth and technological leadership.

This move shows Bezos’s growing interest in AI beyond the tech sector. While AI has already transformed areas like e-commerce and cloud computing, manufacturing is now being seen as the next big opportunity. Applying AI in factories could help companies design products faster, reduce waste and improve overall productivity.

Bezos is also linked to a separate AI initiative that focuses on simulating real-world processes. Such technology could be used to test and improve manufacturing systems before they are used in real life, making production more efficient and reliable.

Experts believe this approach could bring major changes to traditional industries, many of which have been slow to adopt new technology. By combining investment with AI-driven upgrades, the plan aims to modernise factories and make them more competitive globally.

Also Read: ₹1,842 crore CMPDI IPO opens to muted demand

 

Categories
Corporate

₹1,842 crore CMPDI IPO opens to muted demand

The ₹1,842 crore initial public offering (IPO) of Central Mine Planning and Design Institute (CMPDI) opened for subscription on March 20, but saw a slow response from investors on the first day. The issue was subscribed only about 4% by the end of Day 1, reflecting a cautious mood in the market.

CMPDI is a subsidiary of Coal India and provides consultancy and planning services for coal and mineral exploration projects. The IPO is entirely an offer for sale (OFS), which means the company will not receive any funds from it. Instead, Coal India is selling part of its stake and will receive the proceeds.

The price band for the IPO has been set between ₹163 and ₹172 per share. Investors can apply for the issue until March 24, and the company is expected to list on stock exchanges soon after.

Initial signals from the market suggest limited excitement. The grey market premium (GMP) indicates a possible listing gain of around 2%, pointing to moderate investor interest rather than strong demand.

Experts say the slow start is partly due to current market conditions. In recent months, several IPOs have not performed well after listing, making investors more careful about new investments. As a result, many are taking a wait-and-watch approach before committing funds.

However, CMPDI’s connection with Coal India and its role in India’s energy sector could support demand in the coming days. The company has a stable business model and has reported consistent financial performance over the years. Its services are important for planning and developing coal mining projects, which remain crucial for the country’s energy needs.

Also Read: Flipkart CFO steps down ahead of IPO

Categories
Corporate

Amazon buys Rivr to test stair-climbing robots for deliveries

Amazon has acquired Swiss robotics startup Rivr as it looks to strengthen its delivery network using automation. The deal, for which financial details were not shared, focuses on improving the “last-mile”, the final and often most challenging step of delivering packages to customers.

Rivr, based in Zurich, has developed delivery robots designed to handle real-world obstacles that typically limit automation. Unlike traditional wheeled robots, Rivr’s machines can climb stairs, move over uneven surfaces, and navigate tight urban spaces. This makes them better suited for reaching customers’ doorsteps directly, especially in cities and apartment complexes.

The robots use a mix of wheels and leg-like movements, allowing them to travel efficiently while still adapting to complex terrain. They are designed to carry packages from delivery vans to homes, potentially reducing the physical workload for human delivery workers and speeding up the process.

Amazon has been investing in robotics for years, especially inside its warehouses. With this acquisition, the company is now focusing more on applying advanced automation to outdoor delivery. The goal is to make deliveries faster, more efficient, and less dependent on manual labour, particularly in areas where logistics can be difficult.

The timing of the deal reflects growing interest in solving last-mile challenges, which remain one of the most expensive parts of e-commerce operations. While Amazon has tested delivery robots before, scaling them has been difficult due to issues like navigation and safety. Rivr’s technology could help overcome some of these hurdles.

Such robots could play a key role in the future of deliveries, especially in densely populated cities where traditional methods face delays. However, large-scale deployment is likely to take time, as companies test the technology in real-world conditions.

Also Read: Zetwerk gears up for IPO filing, eyes $4 billion valuation

Categories
Corporate

Zetwerk gears up for IPO filing, eyes $4 billion valuation

Zetwerk, a fast-growing manufacturing startup based in Bengaluru, is preparing to move closer to the public markets. According to people familiar with the matter, the company is likely to confidentially file its IPO papers within the next couple of weeks.

The company is aiming to raise as much as $550 million through the offering and is targeting a valuation of around $4 billion. A portion of the IPO is expected to come from fresh shares issued by the company, while existing investors may also sell part of their holdings.

By choosing the confidential filing route, Zetwerk is keeping its options open. This approach allows companies to test investor interest and delay the public launch if market conditions are not favourable. The actual IPO is expected sometime later in 2026, depending on how the markets perform.

Founded in 2018, Zetwerk has quickly built a strong presence in the manufacturing space. It connects businesses with suppliers and helps produce components across sectors such as consumer electronics, aerospace, and defence. Over the years, it has expanded beyond India, with operations in the US, Mexico, and parts of Europe, serving large global clients.

The IPO plans come at a time when the broader market is showing mixed signals. While last year saw a strong run of public listings, 2026 has been more uncertain, with some companies facing muted investor response. This makes pricing and timing especially important for companies planning to go public.

Zetwerk’s growth reflects a larger trend in global manufacturing. As companies look to diversify supply chains beyond China, India has emerged as an attractive alternative. Startups like Zetwerk are benefiting from this shift by positioning themselves as key players in the supply ecosystem.

The company last raised funds in 2024 at a valuation of just over $3 billion, so its IPO target suggests a significant step up. If successful, the listing could be one of the notable public market debuts from India’s manufacturing-tech space.

Also Read: RNFI, Jio Bank enable cardless cash via UPI

 

 

 

Categories
Corporate

SBI Mutual Fund to raise ₹13,000 cr via IPO

India’s largest mutual fund, SBI Mutual Fund, is gearing up for a massive ₹13,000 crore IPO, aiming to bring a part of its business to the stock market. The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), a key step toward making its shares publicly tradable.

Unlike many IPOs, this one is an offer-for-sale, meaning SBI and its French partner Amundi will sell a slice of their holdings instead of issuing new shares. SBI is expected to offload about 6.3 % of its stake, while Amundi will sell around 3.7 %, together totaling 10 % of the company. The proceeds will go entirely to the selling shareholders.

The IPO is expected to value SBI Mutual Fund between ₹1.3 lakh crore and ₹1.5 lakh crore, making it one of the largest public listings in India’s financial services sector. Analysts say it reflects growing investor interest in mutual funds and confidence in India’s booming asset management market.

SBI Mutual Fund manages huge pools of money, with assets under management running into lakhs of crore, and holds more than 15 % of the Indian market. Its wide network and trusted brand have made it a favorite among retail and institutional investors alike.

This IPO will be the third big listing from the SBI group, after SBI Life Insurance and SBI Cards & Payment Services went public successfully. Experts believe the listing could attract strong demand, especially from investors looking to gain exposure to India’s largest asset manager.

A mix of domestic and international banks will handle the IPO, which is now awaiting regulatory approvals.

Also Read: Manipal Hospitals plans ₹11,000 cr IPO

Categories
Corporate

Manipal Hospitals plans ₹11,000 cr IPO

Manipal Hospitals, one of India’s leading private healthcare chains, is preparing to launch a massive initial public offering (IPO) worth ₹11,000 crore, making it the largest healthcare listing in the country. The hospital group is expected to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) soon, setting the stage for its stock market debut.

The IPO will comprise both a fresh issue of shares and an offer-for-sale (OFS) by existing shareholders. Around ₹2,000 crore is likely to come from the OFS portion, while the remainder will be raised through new shares. Proceeds from the issue will be used primarily to repay debt of approximately ₹8,000 crore, reducing interest obligations and improving the company’s balance sheet. Additional funds will support strategic expansion, including potential acquisitions and growth of existing facilities.

Over the past few years, Manipal Hospitals has expanded aggressively, acquiring stakes in hospitals such as AMRI Hospitals in Kolkata and other regional facilities, growing its network to nearly 50 hospitals nationwide. The chain has become one of the largest hospital networks in India in terms of bed capacity and geographical presence, offering multi-specialty care across urban and semi-urban areas.

The IPO, led by Kotak Mahindra Bank, is expected to attract strong investor interest, reflecting both the robust growth prospects of private healthcare in India and the rising demand for quality medical services. Analysts say the listing marks a milestone in the consolidation of India’s healthcare sector, as private hospital chains increasingly look to the stock market to raise funds for expansion and debt management.

This move comes at a time when India’s healthcare industry is witnessing heightened investor activity, with private hospitals leveraging capital markets to strengthen operations and fund acquisitions. Manipal Hospitals’ IPO is not just a financial event but a signal of confidence in the long-term growth of India’s healthcare infrastructure, positioning the chain for sustained expansion and improved financial stability.

The company has yet to confirm the IPO timeline, but market watchers anticipate it to be a landmark offering, setting a benchmark for future healthcare listings in India.

Also Read: Air India, IndiGo, SpiceJet oppose free seat mandate

Categories
Corporate

Meta to pull the plug on Horizon Worlds VR in June

Meta, the social media giant led by CEO Mark Zuckerberg, is shutting down the virtual reality (VR) version of its social metaverse platform, Horizon Worlds, marking a major retreat from one of its most ambitious technology bets.

Launched in 2021, Horizon Worlds allowed users with Meta Quest VR headsets to explore virtual 3D worlds, socialize, and create their own spaces. The platform was central to Meta’s metaverse vision and was heavily promoted as the “next frontier” for social interaction online. In 2021, Facebook’s rebranding to Meta underscored how critical this VR platform was to the company’s future strategy.

Despite these ambitions, the VR version of Horizon Worlds struggled to gain traction. User engagement remained low, reviews were mixed, and technical issues limited its appeal. Meta’s Reality Labs division, which developed the platform, has incurred massive losses over the years, with estimates suggesting more than $80 billion spent on metaverse development since 2020.

Under the new plan, the VR app will be removed from the Meta Quest Store by the end of March 2026, and the VR service will fully shut down on June 15, 2026. Existing users will have access until that date. Meta will continue the ‘Horizon Worlds’ experience as a mobile-only platform, where the company intends to concentrate its efforts.

Meta says this shift allows both mobile and VR experiences to evolve independently and reflects a broader strategic refocus toward artificial intelligence, mobile apps, and other emerging technologies.

The closure of Horizon Worlds VR comes amid industry-wide reconsideration of large-scale virtual worlds, following high-profile investments that failed to deliver expected user growth. Analysts say the move highlights the challenges of building fully immersive social VR platforms and signals a more cautious approach to Meta’s long-term metaverse ambitions.

Also Read: Wipro partners Harness for AI-led software delivery

Categories
Corporate

L’Oréal plans to buy majority stake in Innovist

French beauty company L’Oréal is in talks to buy a majority stake in Indian personal care startup Innovist. The deal could value Innovist between $350 million and $450 million, according to reports.

Innovist is known for its digital-first brands like Bare Anatomy, Chemist at Play, Sunscoop, and Vinci Botanicals. These brands mainly sell online and focus on science-based beauty and personal care products. The company has grown quickly in recent years and has become popular among young consumers in India.

If the deal goes through, L’Oréal is expected to first buy a controlling stake in Innovist. Over time, it may increase its ownership and eventually take full control of the company. However, the final details of the deal are still being discussed and could change.

This move is part of L’Oréal’s strategy to expand its presence in India, which is one of the fastest-growing beauty markets in the world. The company has been increasing its investments in the country to tap into rising demand for skincare, haircare, and wellness products.

Innovist’s strong growth has made it an attractive option for acquisition. The startup has seen a sharp rise in revenue and has also improved its profitability. Its focus on research-driven products and online sales has helped it stand out in a crowded market.

Also Read: Wipro partners Harness for AI-led software delivery

Categories
Corporate

Sensex gains 330 points, Nifty closes above 23,100

The BSE Sensex closed around 74,500, gaining roughly 0.5 percent, while the NSE Nifty50 settled near 23,100 with similar gains. However, the session remained volatile, with indices giving up a portion of early gains as investors stayed cautious.

The recovery was led by buying in information technology, metal stocks and public sector banks, which emerged as the top gainers of the day. Stocks in these sectors attracted investors looking to capitalise on recent corrections. On the other hand, weakness persisted in select financial stocks, with HDFC Bank continuing to remain under pressure following recent negative developments.

Friday’s gains come after markets witnessed a sharp sell-off on Thursday, when the Sensex plunged nearly 2,500 points in one of its worst single-day declines in recent years. The fall was triggered by escalating geopolitical tensions in West Asia, particularly involving Iran, which sparked fears of disruption in global crude oil supplies.

Although crude oil prices showed some easing on Friday, they remained elevated, keeping concerns around inflation and economic stability intact. Rising oil prices are seen as a key risk for India, which is heavily dependent on imports.

The Indian rupee also remained weak against the US dollar, adding to investor concerns over macroeconomic stability. Currency pressure, along with foreign investor outflows, continued to influence market sentiment.

Despite Friday’s rebound, overall sentiment remained cautious. Analysts noted that while valuations have become more attractive after the recent correction, uncertainty around global developments and domestic factors could keep markets volatile in the near term.

Also Read: India appoints Vikram Doraiswami as envoy to China

Categories
Corporate

Meta to pay $1,000–$3,000 per month to creators on Facebook

Meta, the company behind Facebook, has launched a new programme to pay social media creators for posting short videos, aiming to attract influencers from platforms like TikTok and YouTube Shorts. The initiative, called Creator Fast Track, offers $1,000 per month for three months to creators with at least 100,000 followers, while those with over one million followers can earn up to $3,000 per month.

The programme is designed to help creators grow their audience and earnings on Facebook, even if they are already popular on other platforms. Participants can share existing content or produce new Reels, and Meta promises a reach boost, meaning their videos are likely to be seen by more users.

Meta’s move comes as short-form video content dominates social media. Platforms like TikTok and YouTube Shorts have drawn younger audiences and top creators away from Facebook. By offering guaranteed payments, Meta hopes to bring creators back to its platform and increase engagement.

In 2025, Meta reportedly spent nearly $3 billion on creator payments, a 35% increase from the previous year. The company has been investing heavily in the creator economy to secure content and maintain its competitive edge.

Industry experts say the new payments could help Facebook attract talented influencers quickly, but they warn that long-term retention depends on offering more than just money. Creators may need additional tools, monetization options, and audience growth opportunities to stay active on Facebook beyond the initial payment period.

The programme reflects Meta’s broader strategy to compete in the crowded social media landscape, where multiple platforms vie for the same creators and audiences. By financially incentivizing content creation, Meta hopes to ensure Facebook remains relevant in the era of short-form video while giving creators clear rewards for posting regularly.

Also Read: Rupee slips below ₹93 as oil prices soar