Social media platform ShareChat has raised $48.8 million via convertible debentures from its existing investors that include Temasek and Lightspeed.

Startup news website Inc42 reported on Wednesday, citing the startup’s regulatory filings, that the funding round will help ShareChat “navigate the path to profitability in the next 12 to 15 months”.

On Wednesday, Sunita Kejriwal, wife of Delhi Chief Minister Arvind Kejriwal, announced that her husband would unveil significant revelations regarding an alleged excise policy scam. She emphasized that despite multiple raids conducted by the Enforcement Directorate (ED), no incriminating evidence was found.

"Despite two years of probe, the ED has not been able to find even one paisa in evidence. They raided the chief minister's residence but got just Rs 73,000," she said.

Dr. Reddy’s Laboratories Limited (DRL) has entered into an exclusive distribution partnership with Sanofi Healthcare India to promote and distribute their vaccine brands across private markets in the country.

The pact is aimed at expanding the availability of Sanofi’s vaccine brands, both paediatric and adult, within private markets in India.

Shares of IIFL Finance were locked in 10 per cent upper circuit at Rs 353.50 on the BSE on Wednesday. This came after heavy volume trades, with only buyers seen at the counter. The stock of non-banking finance company (NBFC) has bounced back 13 per cent from its 52-week low of Rs 313.25 touched in intra-day trade today.

The average trading volumes on the counter more than doubled with a combined 5.6 million equity shares representing 1.5 per cent of total equity of IIFL Finance changing hands on the NSE and BSE. There were also pending buy orders for 2,40,000 shares on both the exchanges, data shows.

The collapse of a major Baltimore bridge Tuesday is likely to shut down the port’s coal exports for as many as six weeks and block the transport of up to 2.5 million tonnes of coal, said Ernie Thrasher, chief executive officer of Xcoal Energy & Resources LLC.

The US exported about 74 million tonnes of coal last year, with Baltimore the second-largest terminal for the commodity. Plugging up a major coal hub threatens to disrupt global energy supply chains that have finally begun to work out the kinks left over from pandemic slowdowns.

Billionaire Nikhil Kamath has partnered with Gauri Khan, John Abraham to invest over Rs 83 crore in specialty coffee and cocoa company, Subko Coffee Roasters. The investment from popular entrepreneur and Bollywood celebs has pushed the company's valuation to around Rs 283 crore post-money. The funding round was backed by the Blume Founders Fund, The Gauri Khan Family Trust, Priya and John Abraham, Sangita Jindal, Srinivas and Pallavi Dempo, and The Mehta International Mauritius Limited Group.

The Chief of Ramakrishna Math and Ramakrishna Mission, Swami Smaranananda Maharaj, died at 95 due to age-related ailments, according to Ramakrishna Math and Ramakrishna Mission.

Prime Minister Narendra Modi expressed condolences on the death of the President of Ramakrishna Math and Ramakrishna Mission.

China has initiated dispute settlement proceedings against the United States at the World Trade Organization to safeguard its interests in the electric vehicle industry, the Chinese mission said on Tuesday and the WTO confirmed.

China said it was contesting “discriminatory subsidies” under the US Inflation Reduction Act that it said resulted in the exclusion of goods from China and other WTO countries.

The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday. Following a net addition of 84, the country’s billionaire tally touched 271 with their combined wealth at $1 trillion, noted the report.

Mukesh Ambani, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms. Despite a 40 per cent increase in his wealth to $115 billion, Ambani, 66, dropped one rank to 10th place on the global list.

The clinical trials of the novel tuberculosis vaccine MTBVAC began in India on Sunday, marking a “giant step” forward in the fight against one of the world’s deadliest infectious diseases that kills over 1.6 million people annually.

Developed by Biofabri in collaboration with the Hyderabad-based Bharat Biotech, MTBVAC is derived from a human strain of the Mycobacterium tuberculosis bacteria. It holds promise as a more effective and long-lasting alternative to the BCG vaccine, the only tuberculosis (TB) vaccine currently available.

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