Business News: Key Developments
1. IIFL Finance to Raise ₹6,414 Crore, with Blackstone Leading ₹5,000-Crore Investment
IIFL Finance has approved a ₹6,414-crore capital raise through a preferential issue, with Blackstone investing ₹5,000 crore for an approximately 16% stake. The company's promoters will contribute around ₹1,264 crore, while Anchorage Capital will invest ₹150 crore. The capital infusion is expected to strengthen the NBFC's balance sheet and support expansion in secured lending, particularly gold finance. The company expects its capital adequacy ratio to increase from approximately 17% to 30% on a pro forma basis.
The Economic Times+2
2. Blue Tokai Crosses ₹500-Crore Revenue Mark in FY26; Losses Rise 54%
Blue Tokai Coffee Roasters reported revenue from operations of ₹518 crore in FY26, registering 59.4% growth from ₹325 crore in FY25. However, its losses increased approximately 53.7% during the year, highlighting the cost pressures associated with its expansion in India's organised café market.
Entrackr
3. ShareChat Parent Crosses ₹1,000-Crore Revenue in FY26, Reports ₹672-Crore Loss
Mohalla Tech, the parent company of ShareChat and Moj, reported revenue from operations of ₹1,016 crore in FY26, up 40.5% from ₹723 crore in the previous financial year. Despite the revenue growth, the company reported a net loss of ₹672 crore, reflecting continued profitability challenges as it expands its digital content and entertainment businesses.
Entrackr
4. Froncort.AI Raises $2.3 Million from Google.org for AI-Powered Disease Surveillance
Healthcare AI startup Froncort.AI has secured $2.3 million (approximately ₹21.5 crore) from Google.org to expand its AI-powered disease surveillance platform. The funding will support the development of mAI-NETRA, a mobile version of its AI-NETRA platform, which uses artificial intelligence, satellite imagery and government health data to identify areas at higher risk of infectious disease outbreaks. The support also includes Google Cloud credits and technical expertise.
Inc42 Media
5. InMobi Secures Naming Rights for Bengaluru's Ibbaluru Metro Station for ₹65 Crore
Technology company InMobi has secured naming rights for the Ibbaluru Metro station on Bengaluru's Outer Ring Road Metro corridor for ₹65 crore. Under an agreement with Bangalore Metro Rail Corporation Limited (BMRCL), the station will be named InMobi Ibbaluru Metro Station. The arrangement will contribute to metro infrastructure development while providing BMRCL with additional non-fare revenue.
Moneycontrol
6. BDR Pharmaceuticals to Acquire Controlling Stake in ACME Formulations' Oral Solid Business
BDR Pharmaceuticals has agreed to acquire a controlling stake in the oral solid formulations business of ACME Formulation and its subsidiaries from existing shareholders led by private equity firm PAG. The acquisition is expected to strengthen BDR's capabilities across thyroid products, female sex hormones and general pharmaceutical formulations. PAG and ACME founder Viral Shah will retain the sterile injectables business through Immacule Lifesciences. The financial terms have not been officially disclosed.
PAG+2
7. OpenAI Deploys Control Room with 35-Second Emergency Kill Switch
OpenAI has introduced Control Room, a centralised system designed to monitor and stop AI model workloads when safety or security concerns arise. The system can halt model output within a maximum of 35 seconds after receiving an instruction to stop a job. It is integrated with monitoring systems and designed to deny further inference requests if a workload is terminated. OpenAI says it is working to reduce the response time further.
OpenAI+1
8. MakeMyTrip's India Arm Receives SEBI Approval to Launch IPO
MakeMyTrip's Indian subsidiary, MakeMyTrip (India) Ltd, has received SEBI's approval to proceed with its proposed initial public offering. The company had filed its draft papers through the confidential route in July 2026, with SEBI issuing its final observations on November 6. The proposed IPO is expected to involve an offer for sale by its parent company and ibibo Group Holdings. MakeMyTrip will continue to retain control of the Indian subsidiary after the listing.
Company News - Business Standard+1
9. PhysicsWallah Cites AI Efficiencies Behind Job Cuts; Earmarks $20 Million for Acquisitions
Edtech company PhysicsWallah has attributed part of its workforce reduction to operational efficiencies generated through artificial intelligence. During its Q2 FY27 earnings discussion, the company highlighted AI applications in content creation, quality checks, test-paper preparation and evaluation. It has also earmarked less than $20 million for acquisitions, primarily targeting online education businesses. The company continues to work towards improving profitability across its offline education operations.
Entrackr
10. Sarvam Appoints Former Google Cloud India MD Sashikumar Sreedharan as President and CBO
Indian AI startup Sarvam has appointed Sashikumar Sreedharan, former Managing Director of Google Cloud India, as its President and Chief Business Officer. He will lead the company's enterprise and government businesses and oversee marketing, finance, service delivery and commercial operations. He will also join the company's board of directors. The appointment comes as Sarvam looks to expand its enterprise AI business and partnerships.
Sarvam AI+1
11. Nvidia Board Launches Independent Probe into Alleged Chinese Intelligence Links Involving CEO Jensen Huang
Nvidia's board has launched an independent investigation following reports that CEO Jensen Huang may have been targeted by a foreign intelligence operation linked to China. The allegations involve a former technology executive reportedly suspected by US authorities of having links to Chinese intelligence. Nvidia has stated that it has no reason to believe its national security interests or company secrets were compromised. The developments have raised questions about corporate governance and potential risks for the world's leading AI chipmaker. These remain allegations under investigation.
Reuters+2
12. Google Plans Two New Variants of Its In-House AI Chips: Report
Google is reportedly preparing two new specialised versions of its Tensor Processing Units (TPUs), its in-house AI chips. According to Bloomberg, the variants are designed to address emerging requirements such as confidential computing and more advanced AI workloads. The development highlights Google's efforts to strengthen its semiconductor capabilities and compete more directly with Nvidia in the rapidly expanding AI infrastructure market.
Bloomberg+1
13. IFC Discloses $150-Million SBI Social Loan Facility to Support Women's Lending
The International Finance Corporation (IFC) has disclosed a $150-million social loan facility for the State Bank of India. The funding is intended primarily to support lending to women micro-borrowers through the Self-Help Group (SHG) financing model. The initiative also includes advisory support and training to strengthen SBI's capacity to finance women-led microenterprises.
SBI ECB
14. DriveU Doubles Net Profit in FY26 as Gross Platform Revenue Reaches ₹131 Crore
Mobility platform DriveU reported a 109% increase in net profit to ₹3.6 crore in FY26, compared with ₹1.73 crore in FY25. Its gross platform revenue, also referred to as NTV, grew 17% to ₹131 crore, while net revenue increased 14% to ₹32.87 crore. The company maintained its profitability for the third consecutive financial year, supported by growth in its on-demand driver services business.
DriveU+1
India’s Biggest Corporate Acquisitions: 9 Landmark Deals (2022–2026)
Headline: India's Biggest Corporate Acquisitions: 9 Landmark Deals Worth Thousands of Crores
Indian companies are increasingly using acquisitions to expand their market presence, enter new geographies, strengthen product portfolios and build competitive advantages. From pharmaceuticals and cement to information technology and automobiles, these landmark transactions reflect the growing scale and strategic ambitions of Indian businesses.
Nine Major Corporate Acquisitions
| No. | Acquiring company | Acquisition | Deal value |
|---|---|---|---|
| 1 | Sun Pharma | Organon (2026) | ₹1,05,000 crore* |
| 2 | Adani Group | Ambuja Cements and ACC (2022) | ₹81,360 crore |
| 3 | Ambuja Cements (Adani Group) | Penna Cement (2024) | ₹10,422 crore |
| 4 | Coforge | Encora (2025) | Approx. ₹20,000 crore* |
| 5 | UltraTech Cement | Kesoram Cement Business (2023) | ₹7,600 crore |
| 6 | UltraTech Cement | India Cements (2024) | Up to ₹7,100 crore |
| 7 | Tata Motors | Iveco Group (2025) | Approx. ₹38,000 crore* |
| 8 | Torrent Pharmaceuticals | JB Chemicals (2025) | ₹25,689 crore |
| 9 | Mankind Pharma | Bharat Serums & Vaccines (2024) | ₹13,768 crore |
What These Deals Represent
Pharmaceuticals: Sun Pharma's Organon acquisition expands its global presence and strengthens its portfolio in women's health and other therapeutic segments.
Cement and infrastructure: Adani Group and UltraTech have strengthened their manufacturing capacity and geographic reach through strategic acquisitions.
Information technology: Coforge's acquisition of Encora expands its AI-led engineering, cloud and digital services capabilities.
Automobiles: Tata Motors' acquisition of Iveco strengthens its position in the global commercial vehicle market.
These transactions demonstrate how acquisitions can accelerate business expansion, provide access to new markets and technologies, and strengthen long-term competitive positioning.
