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Sumitomo Mitsui Banking Corporation (SMBC) has acq Sumitomo Mitsui Banking Corporation (SMBC) has acquired a 20% stake in Yes Bank from State Bank of India (SBI) and other lenders, making it the largest shareholder. 

SBI retains approximately 10% equity despite divesting 13.18% to SMBC. 

Two SMBC representatives have joined Yes Bank’s board. 

This transaction is noted as the largest cross-border investment in an Indian private sector bank. 

Yes Bank aims to leverage SMBC’s global network to enhance corporate banking and cross-border services, particularly in Japan–India trade. 

Following the acquisition, SMBC received regulatory approval to potentially increase its stake to 24.99%. 

The deal was part of a sale involving multiple lenders who had previously invested in Yes Bank, and Yes Bank shares fell slightly post-announcement.
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#OverNexus #BusinessNews #JapanInvestment #SMBC #YesBank #FinancialAcquisition #StakeholderNews
Consumer technology firm Nothing has raised $200 m Consumer technology firm Nothing has raised $200 million in a Series C funding round, valuing the company at $1.3 billion. 

The funding, led by Tiger Global and supported by existing shareholders like GV, Highland Europe, and EQT, will accelerate the development of an AI-native platform where hardware and software converge. 

The company, which reported over $1 billion in total sales by early 2025, plans to launch its first AI-native devices next year. 

While smartphones continue to be dominant, Nothing anticipates the emergence of additional essential devices. 

The company is also preparing a 'Community round' for supporters to invest, and is set to open its first flagship store in India, with its sub-brand CMF establishing a global headquarters there.
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#OverNexus #BusinessNews #NothingFunding #TigerGlobalInvestment #NikhilKamath #StartupSuccess #VentureCapital
The Competition Commission of India approved JSW P The Competition Commission of India approved JSW Paints' acquisition of up to 75% of Akzo Nobel India Ltd. for ₹8,986 crore. 

This acquisition, which includes a subsequent open offer for an additional 25% stake for ₹3,929.06 crore, totals over ₹12,915 crore. 

Upon completion, JSW Paints will become the fourth-largest player in India’s paint market. 

JSW Paints, a subsidiary of the diversified JSW Group, signed an agreement in June to acquire this stake, while Akzo Nobel retains its India Powder Coatings business and International Research Centre. 

The deal signifies JSW Group’s expansion into the paint sector, which it entered in 2019, with Akzo Nobel reporting revenues of ₹4,091.21 crore in FY25.
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#OverNexus #BusinessNews #JSWPaints #AkzoNobel #CCIApproval #BusinessAcquisition #IndianMarket
KPI Green Energy is set to secure ₹3,200 crore ( KPI Green Energy is set to secure ₹3,200 crore ($363.39 million) via a loan from the State Bank of India to enhance its renewable energy production capacity. 

This loan, at an interest rate of 8.45% over 20 years, aligns with the Indian government's goal of achieving 500 gigawatts of non-fossil capacity by 2030. 

The funds will be disbursed over 1.5 years. 

Chairman Dr. Faruk G. Patel stated that all ongoing projects in the Independent Power Producer business will be completed by 2027, generating approximately ₹10 billion in revenue. 

Additionally, KPI issued its first green bond for ₹670 crore at 8.5% per annum, boosted to an AA+ rating due to a 65% guarantee from GuarantCo. 

Aseem Infrastructure Finance led bond subscriptions, with Jio Finance and SBI Capital Markets involved as well.
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#OverNexus #BusinessNews #KPIGreenEnergy #SBIInvestment #SahilYahoo #RenewableFunding #CleanEnergyFuture
Unilever Plc has appointed Srinivas Phatak as its Unilever Plc has appointed Srinivas Phatak as its chief financial officer, effective immediately. 

Previously, Phatak served as the deputy CFO and group controller. 

In February 2025, he was named acting CFO while a search for a permanent replacement was conducted. 

The Unilever board unanimously selected him for the role based on his industry experience and performance as acting CFO. 

Phatak's annual fixed salary will be 1.175 million euros, along with eligibility for bonuses and share plan awards per company policy. 

CEO Fernando Fernandez praised Phatak's financial acumen and strategic insight as integral to driving growth and excellence. 

Phatak began his career at ITC in 1996, joined Hindustan Unilever in 1999, and became HUL's CFO in 2017, succeeding Graeme Pitkethly, who resigned in May 2024.
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#OverNexus #BusinessNews #UnileverLeadership #SrinivasPhatak #CFOAppointment #CorporateGovernance #BusinessNews
Tata Consultancy Services (TCS) has entered a mult Tata Consultancy Services (TCS) has entered a multi-year partnership with ARN Media, a leading audio-led entertainment company in Australia, to enhance its technology and business operations. 

TCS will leverage its expertise in the communications and media sector to provide a range of services, including the design and maintenance of enterprise applications, IT infrastructure support, and service management. 

The collaboration aims to streamline ARN Media's IT operations by rationalising its application portfolio and implementing automation tailored to its needs. 

TCS will also modernise core business operations in sales, finance, and accounting, supporting ARN's goals of becoming a leaner organisation focused on content delivery. 

ARN connects 8 million people each week through various media platforms and is committed to enhancing audience growth and digital capabilities through this transformation, as highlighted by CEO Ciaran Davis and TCS President Akhilesh Tiwari.
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#OverNexus #BusinessNews #TCS #ARNMedia #TechnologyModernization #BusinessOperations #DigitalTransformation
Eternal, the parent company of Zomato, achieved a Eternal, the parent company of Zomato, achieved a market capitalisation of approximately ₹3.16 trillion, surpassing Adani Ports and ONGC among others. 

The stock closed at ₹327.3, increasing by 1.24%. 

Major companies overshadowed by Eternal include Adani Ports (₹3.03 trillion), ONGC (₹2.96 trillion), and Bharat Electronics (₹2.94 trillion). 

In the larger market, Reliance Industries leads at ₹19.01 trillion. 

Eternal's share price has risen over 2.75% in the last month and over 31% in three months. 

Motilal Oswal Financial Services is bullish on the stock, setting a target of ₹420 and upgrading Swiggy to a ‘Buy’ at ₹560, citing improved market conditions and policy support. 

Meanwhile, Nomura raised its target for Eternal to ₹370, citing growth in food delivery and a transition towards margin-friendly quick commerce. 

Analysts noted a "firm duopoly" between Eternal and Swiggy, resulting in a more disciplined and profitable industry. 

Blinkit, Eternal's quick commerce platform, is expected to undergo transformations that could enhance long-term margins.
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#OverNexus #BusinessNews #EternalMarketCap #ZomatoSuccess #InvestmentTrends #IndianStocks #FinancialMilestone
MaskGun, a first-person shooter game by Pune-based MaskGun, a first-person shooter game by Pune-based SuperGaming, has achieved over 100 million downloads globally and amassed 40 million in-game hours. 

Utilizing SuperGaming’s SuperPlatform for multiplayer experiences, the game emphasizes player dynamics, friendships, and rivalries, according to CEO Roby John. 

SuperGaming's other game, Indus, has also gained traction with nine million downloads, contributing to over 200 million downloads across their titles, including Battle Stars and Silly Royale. 

The company has a workforce of 120 in Pune and Singapore. 

Last month, SuperGaming raised $15 million in Series B funding, positioning it at a $100 million valuation. 

Notable investors included a16z Speedrun, Bandai Namco, and several Web3 ecosystem stakeholders. 

This round builds on a previous $5.5 million Series A raised in October 2021, attracting both new and returning investors, including lead backer SkyCatcher.
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#OverNexus #startupnews #SuperGamingSuccess #MaskGunMilestone #100MillionDownloads #FundingAchievement #GamingInnovation
Reliance Group, led by billionaire Mukesh Ambani, Reliance Group, led by billionaire Mukesh Ambani, raised approximately 210 billion rupees ($2.4 billion) through asset-backed securities on Monday, marking it as one of India's largest deals of the year. 

Three-fourths of this issuance was purchased by leading asset managers such as Aditya Birla Sun Life, HDFC, and ICICI Prudential. 

The securities, in the form of pass-through certificates, were issued by three trusts with maturities ranging from three to five years and an average coupon rate of 7.75%. 

The offering received strong demand, allowing Reliance to increase its transaction size from 180 billion to 210 billion rupees. 

This development enhances India's securitization market, projected to exceed 2.5 trillion rupees in issuance by the end of the fiscal year, according to ICRA. 

The pass-through certificates are backed by loan receivables from the Digital Fibre Infrastructure Trust linked to Reliance Industries. 

Several companies involved did not comment publicly on the deal.
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#OverNexus #BusinessNews #RelianceInvestments #AmbaniAssets #SecuritiesMarket #FinancialGrowth #IndianEconomy

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