Groww Acquires Fisdom for $150M
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🗞️ India’s forex reserves jump $4.5B
India’s foreign exchange reserves surged by $4.5 billion to $690.61 billion for the week ending May 3, driven largely by a sharp rise in gold holdings. This marks the second-largest weekly gain this fiscal, boosting India’s financial stability.
🗞️ Groww to acquire Fisdom in $150M deal
Wealthtech unicorn Groww will acquire Fisdom in a $150 million transaction, marking a major consolidation in India’s investment tech space. The move will help Groww strengthen its offerings across mutual funds, insurance, and tax solutions.
💬 Expert Take:
• “This acquisition deepens Groww’s footprint in advisory-led investing,” said Rahul Jain, fintech analyst at Bernstein.
🗞️ Unified Data Tech’s ₹66 Cr SME IPO opens May 22
Unified Data Tech Solutions is set to launch a ₹66 crore SME IPO next week. As the second-largest SME IPO of 2025, the firm caters to global BFSI and healthcare clients through AI-powered IT solutions.
🗞️ Emami Q4 profit rises 9% YoY
Emami posted a net profit of ₹162 crore for Q4 FY25, up 9% YoY, aided by strong personal care product demand. Revenue also climbed 8% to ₹881 crore.
🗞️ Vivriti Capital launches co-lending platform for MSMEs
Chennai-based Vivriti Capital has introduced a digital co-lending platform to expand credit access to MSMEs. It enables seamless bank–NBFC partnerships via API integrations.
💬 Expert Take:
• “Vivriti is bridging a real gap in India’s MSME credit landscape,” said Kavita Subramanian, co-founder, Upwards.
🗞️ Singtel offloads ₹13,173 Cr stake in Airtel
Singtel has sold 1.2% of its holding in Bharti Airtel for ₹13,173 crore as part of a capital reallocation strategy. The stock remained stable post-sale.
🗞️ IREDA files second bankruptcy case against Gensol
IREDA has filed another insolvency petition against Gensol Engineering over alleged fraud involving unpaid dues worth ₹9.5 crore. The move follows a recent leadership shake-up at Gensol.
🗞️ Vedanta hit with ₹146 Cr tax penalty
Vedanta received a ₹146 crore tax penalty notice from the Visakhapatnam Tax Commissioner over pending interest and royalty payments. The company plans to contest the order.
📊 Market Updates:
📉 Sensex: 82,330.59 ▼ -0.24%
📉 Nifty 50: 25,019.80 ▼ -0.17%
💵 USD/INR: ₹85.60 ▲ +0.07%
🛢️ Brent Crude: $64.34 ▼ -0.12%
🪙 Bitcoin: $103,741 ▲ +0.12%
🪙 Gold (MCX): ₹92,859 per 10g ▼ -₹451