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GVFL's Prarambh Fund achieves first close at ₹100 crore

Ahmedabad-based GVFL has announced the first close of its new Seed Stage fund, Prarambh Fund. The first close has been reached at ₹100 crore. The total fund corpus is ₹200 crore. GVFL aims to deploy the funds in 25-30 seed startups. It will focus on tech startups with investments of ₹1 crore to ₹3 crore each.

Jun 19th, 2024

GVFL's Prarambh Fund achieves first close at ₹100 crore

Shreyasi Banerjee

James Jannard, Founder of eyewear-maker Oakley, sold his home for $210 million in Malibu, making it the costliest home ever to be sold in California. Jannard, who founded Oakley in 1975, had bought the property in 2012 for $75 million, reported the Los Angeles Times. The property has eight bedrooms, 14 bathrooms, a courtyard, a gym and two guesthouses.

Jun 19th, 2024

Most expensive home in California owned by Oakley Founder James sold for $210 million

Debaroti Adhikary

Boeing CEO Dave Calhoun on Tuesday apologised to families of 346 victims killed in two fatal 737 MAX crashes in 2018 and 2019. "I apologize for the grief that we have caused," he said. While facing questions from senators over the planemaker's safety culture, Calhoun said, "I'm here in the spirit of transparency and I am here to take responsibility."

Jun 19th, 2024

I'm sorry for grief we caused: Boeing CEO on 346 deaths in crashes

Debaroti Adhikary

Bharti Airtel has acquired 2.69 crore Indus Towers shares worth around 1% of the company's equity via 'on-market' transaction, a report said. This comes as 53.3 crore shares representing around 20% equity stake in Indus Towers changed hands in large deals valued at ₹17,065 crore on Wednesday. Notably, UK-based telecom operator Vodafone PLC is likely the seller.

Jun 19th, 2024

Airtel buys 1% Indus Towers stake as Vodafone sells stake: Report

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Rubeena Tabassum began lavender cultivation on a barren hilly land in rural Budgam, Kashmir, taking a personal loan when banks denied her business loan. The successful entrepreneur now sells aromatic oils, dried flowers, and other products across India. Her enterprise Kashmir Aromatics clocked ₹1 crore in annual revenues last fiscal.

Jun 19th, 2024

Kashmir woman turns barren land into lavender farm; earns ₹1 cr

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Now the matter is that in order to avoid any tax on salary, the coordination between investment and savings will have to be maintained. If your salary is Rs 12 lakh and you take full advantage of reimbursement and investment tools, then definitely there will be no tax on the salary. The entire salary will be received without tax.

Jun 19th, 2024

No tax on salary up to ₹12 lakh

System User

Shares of Sprayking Ltd opened higher at ₹41.45, gaining around 2%. The rise followed news of securing a significant order of 25 tonnes of brass rods worth ₹15 million from a new domestic client. This positive movement coincided with the company's recent inauguration of an advanced manufacturing facility.

Jun 19th, 2024

Sprayking received an order worth ₹15 Mil for 25 tonnes brass rod

System User

Sansera Engineering rose by 7% despite the likely divestment of up to 62.53 lakh shares worth ₹750 crore by FII, Client Ebene & CVCIGP II Employee Ebene. As of March 2024, these investors hold combined 11.66% stake in it. Sansera is India-based engineering-led integrated producer of complex & crucial precision forged & machined components for the automotive and non-automotive industries.

Jun 19th, 2024

FII likely to sell 62.53 lakh shares in Sansera Engineering

Debaroti Adhikary

India will lose fewer millionaires to migration in 2024 than last year, according to Henley & Partners. India is projected to lose 4,300 millionaires this year, while it lost 5,100 in 2023. "India has stemmed its wealth exodus," it said. "India continues to produce far more new [such] individuals than it loses to emigration," the previous year's report had said.

Jun 19th, 2024

India to lose fewer millionaires in 2024 than last year: Report

Pragya Swastik

Team India captain Rohit Sharma has made a strategic investment in Mumbai-based edu-fintech startup LEO1. The amount and valuation of the fundraise was not disclosed. Over the last three years, the startup has raised around $35 million from Aavishkaar Capital, QED Investors, Ardent Investors, 9 Unicorn and others. Founded in 2017, LEO1 helps parents/students pay fees in easy instalments.

Jun 19th, 2024

Rohit Sharma invests in startup LEO1

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