Malpani Group (MPG), a Maharashtra-based group with presence in the amusement park business, has acquired a 66.25 per cent stake in Imagicaaworld Entertainment following a debt resolution by lenders outside of the bankruptcy process. Lenders recovered 57 per cent of their dues.

MPG acquired the stake by way of preferential allotment of equity shares worth Rs 415 crore. As part of the debt resolution plan, the lenders have been allotted equity shares worth Rs. 75 crore resulting in a collective shareholding of 11.97% in the company.

Prime Minister Narendra Modi will participate in the 'Udyami Bharat' programme and will launch several schemes on June 30.

Prime Minister will launch the 'Raising and Accelerating MSME Performance' (RAMP) scheme, 'Capacity Building of First-Time MSME Exporters' (CBFTE) scheme and new features of the 'Prime Minister's Employment Generation Programme' (PMEGP).

Telangana Chief Minister K Chandrashekar Rao inaugurated T-Hub 2.0, the world's largest innovation campus in Hyderabad, and said the day is not far when the next big breakthrough in startup innovation will come from the city.

Noting that it is a very proud moment for him to inaugurate the new building of T-hub, KCR said the journey of T-Hub started as an idea, eight years ago, when Telangana became the youngest state in India.

Commuting will be easier in Gujarat as works of 34 national highways at a cost of Rs 3,760.64 crore has been approved by Prime Minister Narendra Modi, said the state Roads and Housing Minister Purnesh Modi.

Out of Rs 3,760.64 crore, Rs 2,511.10 crore will be spent on the construction of roads while Rs 1,249.54 crore will be spent on the construction of bridges and other pre-construction activities, the minister elaborated, adding that ROBs/RUBs over railway crossings will also be constructed, so that the state would become a railway crossing free state.

Major plant protection companies, including biggies like Bayer, Syngenta, Dhanuka Agritech, BASF, UPL and Insecticides India Ltd (IIL), are planning to use drones on an experimental basis to spray chemicals this kharif season to understand its pros and cons before large-scale adoption for commercial use.

However, for some, the prohibitive cost of drones and the scarce availability of good quality drones is acting as a hindrance in realising some of the plans, market players and industry sources said.

Fintech unicorn Razorpay has appointed Murali Brahmadesam, a former executive of Amazon Web Services (AWS), as head of engineering and chief technology officer.

The role was held by Razorpay’s co-founder, Shashank Kumar, who is now designated the company’s co-founder and managing director.

Online education provider Byju’s is pushing back payments for an approximately $1-billion acquisition struck last year, according to people familiar with the matter.

Blackstone and other shareholders of Aakash Educational Services were due to be paid partly in cash and partly in Byju’s stock this week, but Byju’s sought a two-month extension, said the people, who asked not to be identified discussing a private matter. Some sellers received partial payment in 2021, the people said.

IT services company, Infosys, on Tuesday announced it has been selected by Australian express logistics business, Global Express, to separate the technology landscape post divestment from Toll Holdings.

Building on its strategic collaboration with Global Express to drive hybrid cloud-powered innovation, Infosys will leverage the blueprints and tools from Infosys Cobalt, a set of services, solutions and platforms for enterprises to accelerate their cloud journey.

Soon India may have its first indigenous mRNA vaccine that is stable at 2-8 degrees Celsius as the expert panel advising the Central Drugs Standards Control Organisation (CDSCO) has green-signalled Gennova Biopharma's mRNA vaccine candidate for Covid19.

The Subject Expert Committee (SEC) has recommended granting the Emergency Use Authorisation (EUA) to the country's first mRNA-based Covid-19 vaccine in a meeting held on Friday, according to reports.

Billionaire philanthropist Pallonji Mistry died early today morning at his home. He was 93.

Mistry, whose family has owned a sprawling construction business for over a century -- the Shapoorji Pallonji Group and 18.4 per cent stake in Tata Sons, is survived by his sons Shapoor and Cyrus and a daughter, Aloo. Mistry was ailing for a long time, group officials said.

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