February 2024 – Page 6

RK Swamy’s price band for IPO set between Rs 270 – Rs 288 a share

GOAT Brand Labs plans to use the new funds to expand its presence across multiple channels, including quick commerce, brick-and-mortar stores, and exports.

On the upper band price, the total size of the issue will be at Rs 423 crore and the total market capitalisation of RK Swamy Limited is at Rs 1,450 crore.

RK Swamy Limited to announce price band for upcoming IPO

Ahead of the IPO, the company raised Rs 187.22 crore through its anchor book on March 1. Nippon Life India was the largest institutional investor in the anchor book, picking Rs 50.03 crore worth of shares followed by Aditya Birla Sun Life Insurance Company, which bought Rs 20 crore worth of shares.

The company is the first integrated marketing service group to go public in India.

Titan Company to purchase 0.36 percent stake in CaratLane

In August 2023, Titan had increased its stake to 98.28 percent in CaratLane, through the additional acquisition of 27.18 percent share for an amount of Rs 4,621 crore. (Image source: Moneycontrol)

Titan currently owns 99.64 percent of total equity share capital of the jewellery brand.

AI-led disinformation, Elections: Meta to set up a task force to combat misinformation

Meta has also launched a safety campaign ‘Know What’s Real’, in India, to tackle the issue of misinformation online.

Sony to lay off 900 PlayStation employees: Reports

In January 2024, the two-year long saga of the Zee and Sony merger ended with the collapse of the $10 billion media merger, triggering legal actions from both parties on various issues including merger termination fees. (Image source: Unsplash)

Impacted employees will be provided severance benefits, said CEO Jim Ryan in an internal mail announcing the development.

Elections 2024: Meta’s awareness campaign ‘Know What’s Real’ to tackle misinformation in India

The 'Know What's Real' initiative, spanning eight weeks, is geared towards educating users on identifying and addressing misinformation prevalent on WhatsApp and Instagram. By promoting digital best practices and showcasing available safety tools, Meta hopes to empower its user base in navigating the complex landscape of online information. (Image source: CNBC-TV18)

Meta is also part of the several big tech firms globally who have pledged to help prevent deceptive AI content from interfering with this year’s global elections.

Patanjali Foods on Supreme Court ad ban: ‘SC observations won’t affect business operations’

The IMA had filed a case against Patanjali against the smear ad campaign on the COVID-19 vaccination drive and modern medicine.

“The entire country is being taken for a ride” and the government is “sitting with its eyes closed”, said Justice Ahsanuddin Amanullah, as the Supreme Court issued a show-cause notice to Patanjali Ayurved for going back on its promise to not make misleading claims in its medicine ads.

ZEE Entertainment expands the scope of Independent Committee to investigate allegations

Zee Ent recorded a 61 percent spike in net profit to Rs 209.5 crore between July and September quarter

The Independent Investigation Committee will be chaired by Justice Satish Chandra and comprise of ZEE’s independent directors, Uttam Prakash Agarwal and P.V.R Murthy.

DPIIT’s Rajesh Kumar Singh: This year we will most likely be granting one lakh plus patents

Rajesh Kumar Singh, secretary, Department for Promotion Of Industry And Internal Trade (DPIIT), Ministry Of Commerce And Industry, Government Of India spoke of two sets of funding windows: the Seed Fund Scheme for early stage start-ups, and the Fund Scheme which is channelized through the Small Industry Development Bank of India (SIDBI) that leverages about Rs. 10,000 crores of government funding to various alternative investment funds (AIFs), to support startups that are already established.

At the India Digital Summit (IDS) 2024, Rajesh Kumar Singh, secretary, Department for Promotion Of Industry And Internal Trade (DPIIT), Ministry Of Commerce And Industry, Government Of India in a fireside chat with Prateek Maheshwari, co-chair, India Edtech Consortium and Co-founder, Physics Wallah, touched upon the government’s investment in digital and physical infrastructure, their plans to boost investments in the startup ecosystem and a lot more.

PM Modi launches #MeraPehlaVoteDeshKeLiye campaign to encourage young voters

The Prime Minister praised India's animation studios for partnering with global giants like Disney and Warner Brothers, creating original content that showcases Indian culture on the world stage.

The Prime Minister has also issued an appeal to influencers across platforms to actively engage in the campaign.