Category: FINANCE
RRP Electronics Ltd Launched Maharashtra’s First OSAT/ATMP Semiconductor Manufacturing Facility
RRP Electronics Ltd was pleased to announce the launch of Maharashtra’s first OSAT (Outsourced Semiconductor Assembly and Test)/ATMP (Assembly, Testing, Marking, and Packaging) semiconductor manufacturing facility in Navi Mumbai, marking a major milestone in India’s semiconductor mission.
The inauguration was led by Shri Eknath Shinde, Honorable Chief Minister of Maharashtra; Shri Devendra Fadnavis, Deputy Chief Minister; and Shri Ajit Pawar, Deputy Chief Minister of Finance. The event also saw the presence of Shri Uday Samant, Minister of Industries; Dr. Harshdeep Kamble, Principal Secretary of Industries, Government of Maharashtra; Bharat Ratna awardee and renowned cricketer Sachin Tendulkar; and Dr. Anil Kakodkar, Padma Vibhushan awardee and former Chairman of the Department of Atomic Energy.
Supported by a strong technological partnership with HMT Microelectronic AG and its leading associates, this facility was set to redefine the semiconductor landscape. It was equipped to handle advanced packaging technologies such as QFN, BGA, SoC, and mixed ASICs.
In its initial phase, the facility had the capacity to produce 10,000 wafers per month. Future plans included the establishment of a dedicated design house and expansion into LiDAR technology development, addressing the growing demand for automotive power chips, as well as the production of TFT and WATN components for automotive applications.
An MoU was signed between HMT Microelectronic AG and Renowa Vision Inc. The MoU with HMT symbolized projects related to QFN, BGA, ASICs, and later expansion into LiDAR technology. The MoU with Renowa marked a significant leap in RRP’s growth journey, as it allowed the acquisition of technology for OSAT and FAB for NAND memory chips. These are non-volatile storage technologies that do not require power to retain data.
The signing of these MoUs provided RRP with assured revenue generation of over $50 million in the OSAT sector.
This groundbreaking project represented a significant achievement for Maharashtra, further positioning the state as a key player in India’s semiconductor mission.
BlackSoil Capital (NBFC) Raises Over ₹200 Cr Debt in H1CY25; Boosts its SME Credit Play
BlackSoil Capital, the Non-Banking Financial Company of BlackSoil Group, has raised ₹210 crore debt in the first half of 2025 (Jan to Jun). The fundraise highlights BlackSoil’s expanding role as a trusted alternative credit partner for India’s SMEs and high-growth businesses.
Despite ongoing NBFC crisis and softening sentiment in credit markets, BlackSoil’s ability to mobilise fresh capital demonstrates strong investor confidence in its robust risk management, diversified granular portfolio, and proven track record in SME-focused alternative credit lending.
The majority of the latest capital raise came through Non-Convertible Debentures (NCDs) and co-investments from marquee family offices and HNIs. New lenders include global impact investor GrayMatters Capital and a public sector financial institution, alongside repeat participation from three existing lenders. This growing base of banks, NBFCs, and institutional partners reinforces BlackSoil’s resilience, borrowing capacity and expanding market presence.
The fresh capital will fuel BlackSoil’s SME-focused sector-agnostic lending strategy, with SMEs forming 80% of its portfolio across AgriTech, ClimateTech, EVs, SaaS, Healthcare, FinTech, and B2B platforms. A key driver is supply chain finance, where its arm SaralSCF provides tailored working capital solutions to ease liquidity and cash flow gaps for SMEs.
BlackSoil Capital’s SME lending capabilities are set to further expand through its strategic merger with Caspian Debt, a pioneering impact investor with a deep SME lending franchise. Once approved by the National Company Law Tribunal (NCLT), the combined entity will create a comprehensive alternative credit platforms for SME lending, enhancing BlackSoil’s reach across sectors and geographies.
Chirag Shah, President – Fundraising & Strategy, BlackSoil, said, “This fundraise reinforces BlackSoil’s differentiated position in India’s alternative credit landscape. The demand for non-dilutive, flexible capital is accelerating, particularly from SMEs that form the backbone of India’s economy. With the upcoming merger with Caspian Debt and the growing scale of SaralSCF, we are doubling down on enabling SMEs to scale sustainably while retaining ownership.”
The Company’s portfolio spans ten unicorns and eight publicly listed entities. In the enterprise segment, it includes leading names such as Yatra.com, ideaForge, BlueStone, MobiKwik, Curefoods, Battery Smart, Jumbotail, and Moneyview. In the SME segment, the portfolio features Cellecor Gadgets, Manba Finance, Dar Capital, Parag Milk, among others. This diversified exposure reflects BlackSoil’s ability to back both emerging SMEs and category leaders, while effectively mitigating risk.
With India witnessing rapid digital adoption, SME-driven economic growth, and structural shifts in financing landscape, BlackSoil is well-positioned to continue unlocking innovative credit solutions and accelerate the next phase of SME empowerment.
Elev8 Venture Partners Appoints Ashpi Gupta as Principal for Investments and Portfolio Management
Elev8 Venture Partners, a $200 million growth stage fund, is pleased to announce the appointment of Ashpi Gupta as Principal – Investments and Portfolio Management. Ashpi will spearhead investment strategies and oversee portfolio management as the firm continues its mission to support high-potential growth-stage startups.
Ashpi brings 2 decades of experience across Operations, Strategy, and early-stage investing. She has held pivotal roles at leading organizations including Walmart, InMobi, and Aditya Birla Group, managing Business operations and Strategy . She has also been part of large-scale M&A, and joint ventures, and oversaw more than 25 early-stage investments. Early in her career, Ashpi gained extensive consulting and transaction advisory experience at the Big Four accounting firms.
With an MBA in Finance from the National University of Singapore (NUS) and a BE in Computer Science from Mumbai University, Ashpi’s expertise spans strategy ,Business operations, and a deep understanding of the startup ecosystem. Her addition further strengthens Elev8’s ability to identify and back transformative ventures.
Navin Honagudi, Managing Partner of Elev8 Venture Partners, said, “We are thrilled to welcome Ashpi Gupta to the Elev8 family. Her extensive experience in strategy and investment management will enhance our ability to support visionary entrepreneurs and drive value creation across our portfolio.”
Ashpi Gupta, Principal, Investments and Portfolio Management, said: “I am excited to join Elev8 Venture Partners at this pivotal stage in its journey. Elev8’s vision of empowering growth-stage companies aligns perfectly with my passion for fostering innovation and creating long-term value.”
Elev8 Venture Partners, founded in 2023, is raising $200 million for its maiden venture capital fund. The fund primarily invests in Series B and C rounds, targeting high-growth sectors. Elev8 has backed two companies so far: AstroTalk, an online astrology platform, and IDfy, an integrated identity platform.
Elev8 is anchored by South Korea’s KB Group, with additional backing from family offices, high-net-worth individuals, and institutional investors from India, the Middle East, and other Asian countries. The fund aims to invest in 12-14 companies across diverse sectors by the end of its investment cycle.
Ashpi’s appointment is a significant step in Elev8’s growth journey as it continues to build a team of seasoned professionals committed to empowering the next wave of innovative businesses in India and beyond.
PNB Housing Finance Continues to Celebrate Women’s Inspiring Journeys with ‘AchievHer 2.0’
PNB Housing Finance, one of India’s largest housing finance companies, launched the second edition of its inspirational series— ‘AchievHer 2.0’, reinforcing its commitment to diversity, empowerment, and inclusion. Building on the success of the previous edition, this initiative continues to throw the spotlight on the remarkable journeys of women within the organization, recognizing their resilience, dedication, and leadership across the organization.
‘AchievHer 2.0’ is an extension of the company’s ‘Aikyam’ initiative, a people-first initiative designed to foster a culture of inclusivity and empowerment. Through a compelling video series, the campaign delves into the personal and professional journeys of its female employees, capturing special moments of their achievements, challenges, learnings and growth. PNB Housing Finance remains committed to creating a supportive and thriving workplace, where women are encouraged to break barriers and excel in their respective fields.
Commenting on the initiative, Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, said, “The success of ‘AchievHer’ last year reaffirmed our belief in the power of storytelling. With ‘AchievHer 2.0,’ we are once again celebrating the inspiring journeys of our female employees, who embody determination and excellence. At PNB Housing Finance, we are dedicated to fostering an inclusive culture where every individual, irrespective of gender, can thrive and lead by example.”
Ramco Systems announces the launch of Aviation Software 6.0 for smarter aircraft management
Global aviation software specialist, Ramco Systems announced the release of version 6.0 of its Aviation Software – a revolutionary product release designed to transform M&E and MRO operations with AI-driven insights, advanced automation, and seamless integration. An integrated solution with modules for Contracts, Engineering, Planning, Maintenance, Supply Chain Management, Finance, ePUBS and advanced mobility capabilities, Ramco Aviation Software 6.0 is built to handle the challenges of tomorrow
The release introduces many unparalleled features that enable organizations to digitally transform their maintenance execution processes, as well as their management of flight safety, materials and commercials, with some of the key features and modules including:
Sundar Subramanian, Chief Executive Officer, Ramco Systems, said, “The latest version of Ramco Aviation Software 6.0 is a significant milestone in our journey of continuous innovation and commitment to excellence. Along with the advanced capabilities, our specialized Engine MRO solution is a key part of this release, addressing the critical challenges of engine maintenance. By harnessing advanced technology and our domain expertise Ramco Aviation Software 6.0 will enable aviation organizations meet their growing customer demands and stay competitive. We look forward to empowering organizations drive transformation with this game-changing release.”
Manoj Kumar Singh, Chief Customer Officer – Aviation, Aerospace & Defense, Ramco Systems, said, “We are incredibly proud to bring Ramco Aviation Software 6.0 to our customers. Our relentless focus on innovation has helped us build this AI-powered solution that not only addresses the current challenges faced by aviation organizations but also anticipate their future needs. With advanced capabilities such as automated workflows, data-driven decision making, optimized supply chains, and specialized modules like Engine MRO, we believe we are setting new industry standards with Ramco Aviation Software 6.0.”
.Ramco Aviation Software is trusted by 24,000+ users to manage 4,000+ aircraft globally. With 90+ Aviation organizations onboard, Ramco is the solution of choice for top Airlines, 3rd party MROs, large Heli-Operators, leading Defense organizations, and major Urban Air Mobility companies around the world. Available on cloud, Ramco Aviation Suite provides accessibility with ‘Anywhere Apps’, significantly accelerating organizational efficiency and agility. Ramco is changing the paradigm of enterprise software with Artificial Intelligence based solutions, intelligent voice enabled user experience, and advanced features such as digital task cards, offline maintenance capability, conversational chatbots, HUBs and cognitive solutions.
Sony Center Relaunches with Immersive “Cinema Is Coming Home” Concept
Sony India is delighted to announce the grand relaunch of its Sony Center, AVIT Digital Pvt. Ltd., in Lajpat Nagar, New Delhi, reimagined to offer customers an enhanced, cinema-inspired shopping experience. The store, spread across 1000 sq. ft. area, has been thoughtfully redesigned to integrate Sony’s “Cinema Is Coming Home (CICH)” concept – an innovative retail approach that recreates the magic of the cinema hall within the comfort of one’s living room.
At the heart of the new design is the BRAVIA zone, featuring stunning 98’ and 85’ BRAVIA televisions paired with top-of-the-line soundbars, delivering a true theatre-like audiovisual experience. Beyond large-screen entertainment, customers can also explore the complete range of Sony products – from televisions and home audio to cameras, headphones and gaming consoles – in an interactive and engaging environment.
Speaking on the relaunch, Sunil Nayyar, Managing Director, Sony India, said, “Our goal was to create a space where technology meets immersive entertainment, allowing customers to truly experience Sony’s innovation in a way that goes beyond a traditional retail setup. From larger-than-life cinematic screens to high-quality sound zones, every corner of the store has been designed to let visitors engage with our products as they would in their own homes. This is not just about displaying technology, but about creating moments that showcase how Sony adds value to lifestyles and enriches everyday entertainment.”
Satish Padmanabhan, Sales Director, Sony India, added, “This upgrade reflects our commitment to bringing premium technology and superior customer experience under one roof. By redesigning the store with immersive zones and interactive displays, we aim to create an environment where customers can not only explore the latest innovations but also experience them first-hand in real-life settings.”
Sharing his excitement, Rajesh Dewani, Partner at AVIT Digital Pvt. Ltd., said, “We are thrilled to bring this world-cl-ass Sony retail experience to the heart of Delhi. Our newly upgraded store is designed to delight customers and strengthen our bond with the community, especially as families prepare for the festive season.”
This relaunch also reflects Sony’s broader commitment to building premium retail experiences across its Sony Center in India, ensuring customers nationwide have access to interactive spaces that combine cutting-edge technology with personalized service.
To celebrate the relaunch and the festive season, Sony is offering attractive finance and EMI schemes starting at ₹2,995/- per month across select televisions, 1EMI Free, up to ₹25,000/- instant cashback benefits and 3-Year Warranty on select BRAVIA televisions. Customers can also avail the exclusive BRAVIA TV + Soundbar combo offer, saving up to ₹69,990/-.
Capri Global Hsg Fin. Ltd gets recognised at the First National Housing Bank Excellence Awards
Capri Global Housing Finance Limited (CGHFL), a wholly-owned subsidiary of Capri Global Capital Ltd., has been honoured with the National Housing Bank’s first-ever Housing and Housing Finance Excellence Awards 2024–25 for its outstanding performance in the housing loan ₹1000–₹5000 Cr portfolio category. The award was presented at NHB’s inaugural ceremony recently held in New Delhi.
The recognition highlights CGHFL’s strong portfolio growth, sound asset quality, and its mission to make home financing more accessible for underserved communities. By catering to informal-income households with flexible credit models and customer-first services, the company continues to make homeownership a reality for many across India.
Speaking on the achievement, Mr. Rajesh Sharma, Managing Director, Capri Global Capital Ltd., said, “This award reaffirms our long-term commitment to financial inclusion and the dream of homeownership for every Indian. Our growth has been driven by a clear focus on affordability, trust, and last-mile delivery. We remain dedicated to empowering aspiring homeowners in semi-urban and rural India through responsible lending and digital innovation.”
In FY25, CGHFL achieved 24% growth in its loan book, most of which supported first-time homebuyers in semi-urban and rural areas. This momentum stems from adoption of digital tools, and a sharp understanding of borrower needs. By blending technology-led processes with a strong on-ground network, CGHFL ensures faster approvals, greater transparency, and seamless lending experience.
This recognition reinforces Capri’s contribution to India’s housing finance landscape and its commitment to be a trusted financial partner for families building a secure and self-reliant future.
HDFC Bank becomes the preferred financier for Stellantis brands in India
With a shared vision to simplify vehicle ownership and enhance financial accessibility for customers and dealers alike, Citroën India has partnered with HDFC Bank, India’s largest private sector bank, to offer best-in-cl-ass retail and dealer finance solutions. This strategic move further strengthens the Stellantis–HDFC alliance, making HDFC Bank the exclusive preferred financier for all Stellantis brands in India, including Jeep, Maserati and now Citroën.
The MoU was signed by Shishir Mishra, Business Head & Director – Strategic Partnerships & Institutional Business, Stellantis India and Mr. Akhilesh Kumar Roy – Business Head – Auto Loans, Inventory Finance and Two-Wheeler Loans, HDFC Bank. Present on the occasion were several senior executives from Stellantis India and HDFC Bank.
With HDFC Bank’s extensive pan-India reach and a proven legacy as one of the most trusted automobile financiers for over two decades, the tie-up empowers both Citroën customers and dealer partners with strong financing support. For customers, this partnership brings enhanced convenience and accessibility with competitive interest rates and flexible repayment options.
One of the standout features is the HDFC Xpress Car Loan, an industry-leading solution offering 30-minute disbursals through a 100% digital interface, eliminating the need for any physical documentation. This makes the car buying journey smoother, faster, and more customer-friendly. Auto Loans have been one of the significant contributors to HDFC Bank’s Retail Assets segment. As of June 30, 2025, the Bank’s Auto Loan book stood over Rs. 1.48 lakh crore
For Citroën dealer partners, the collaboration unlocks a suite of customised floorplan finance solutions designed to support day-to-day operations and growth. Dealers will benefit from preferential terms, competitive rates, and a wide range of financial products tailored to their business needs. The partnership also ensures seamless processing for working capital and inventory funding, empowering dealers with greater financial agility and operational efficiency.
Commenting on the announcement, Shishir Mishra, Business Head & Director – Strategic Partnerships & Institutional Business, Stellantis India, said, “Financing plays a pivotal role in the car buying journey. New-age customers are increasingly seeking smart, flexible financing solutions that align with their lifestyles and convenience. They value speed, transparency, and convenience in their car-buying journey, making innovative finance options a key decision driver. At Citroën, we believe in making mobility more accessible and seamless for our customers and partners. This partnership with HDFC Bank not only strengthens our financing ecosystem but also reaffirms our commitment to delivering holistic, convenient and trusted experiences across all touchpoints.”
Mr. Arvind Vohra, Group Head – Retail Assets, HDFC Bank said, ”We are pleased to partner with Citroën for offering a simplified auto-financing journey. HDFC Bank’s vast geographical footprint, consumer centric banking products and robust credit intelligence capabilities will unlock a speedier and convenient auto ownership journey.”
Toyota Kirloskar Motor Launches the 2025 Fortuner Leader Edition
Building on the success of the 2024 LEADER EDITION, Toyota Kirloskar Motor (TKM) is set to make an even bolder impression with the launch of 2025 Fortuner LEADER EDITION. With refreshed styling and premium enhancements, this latest edition further amplifies the Fortuner’s commanding road presence, offering customers a sportier and more dynamic appeal.
The New Fortuner LEADER EDITION has been carefully designed to meet the aspirations of SUV enthusiasts who seek unmatched performance combined with contemporary styling. Staying true to Fortuner’s legacy, LEADER EDITION continues to deliver excellent performance, reliable off-road capability, and exceptional ride comfort powered by 2.8L diesel engine. The 2025 Fortuner LEADER EDITION is available in 4×2 Automatic and Manual Transmission variants in Attitude black, Super White, Pearl White, and Silver colour options.
Commenting on the launch, Mr. Varinder Wadhwa, Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “At Toyota, our customers’ evolving lifestyle preferences inspire us to continually refresh and enhance our offerings. We are grateful for the strong acceptance and overwhelming response to the 2024 Fortuner Leader Edition, which has further strengthened the SUV’s legacy as an icon on Indian roads.
Encouraged by this trust, we are delighted to introduce the 2025 Fortuner LEADER EDITION, an offering for those seeking a sportier, more dynamic SUV. We are confident that this refreshed edition will further delight our customers and reinforce Fortuner’s position as the benchmark in the premium SUV segment.”
With a host of new styling elements, including a new grille design with front and rear bumper spoilers and Chrome garnish, further elevates the 2025 Fortuner LEADER EDITION iconic stance. The dual-tone roof in black accentuates its premium edge and enhances its bold character. The glossy black alloy wheels and a distinctive hood emblem ensure a commanding presence on every journey.
The interiors of the New Fortuner LEADER EDITION instantly reflect its refined sportiness. The black and maroon dual-tone seats and door trims exude sophistication, while the addition of auto-folding mirrors, illuminated scuff plates enhance both, style and convenience. Advanced features like the Tyre Pressure Monitoring System (TPMS) further strengthen the vehicle’s overall safety package. Every detail has been crafted to elevate the driving experience while retaining the Fortuner’s hallmark of comfort and reliability.
At the heart of the 2025 Fortuner LEADER EDITION is Toyota’s proven 1GD-FTV 2.8-litre turbocharged engine, equipped with a Variable Geometry Turbocharger for superior performance and efficiency. Delivering an impressive 201bhp of power and 500* Nm of torque, the engine is paired with a 6-speed manual or 6-speed automatic transmission, ensuring smooth power delivery and enhanced driving comfort. With its rear-wheel drive (RWD) 4×2 configuration, the New Fortuner LEADER EDITION strikes a fine balance between commanding performance and everyday drivability, making it a versatile companion for diverse road conditions.
To offer customers complete peace of mind, the Fortuner Leader Edition variants are backed by a range of tailored finance solutions, including up to 8-year funding plans with low EMIs, Toyota Smart Balloon Finance, and pre-approved options for Value-Added Services such as extended warranty and Toyota Genuine Accessories. This is complemented by five years of complimentary roadside assistance, a standard 3-year/100,000 km warranty extendable up to 5 years/220,000 km, and the customizable Toyota Smiles Plus service package, ensuring a seamless and worry-free ownership experience.
Since its debut 15 years ago, the Fortuner has cemented its place as India’s most loved and trusted SUV. Renowned for its bulletproof reliability, imposing road presence, timeless SUV design, and true 4×4 capability, the Fortuner continues to set benchmarks that remain unmatched in its segment, with over 3,00,000 units sold.
TraqCheck raises Pre-Series A at a $14 million+ base valuation
TraqCheck, an innovative enterprise software company specializing in AI-powered background check solutions, has successfully raised its Pre-Series A funding round, securing a base valuation of over $14 million. Key investors include Alok Oberoi, a seasoned finance leader and former head of Goldman Sachs’ international wealth management division; Aakash Anand, founder of Bellavita; and Caret Capital, a leading venture firm focused on sectors such as mobility, distribution, and employment.
Founded in 2020 by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck has rapidly become the trusted partner of more than 200 corporations, including renowned companies like Bajaj Capital, Reliance Retail, Cholamandalam Finance, Yatra, and Grant Thornton. Its AI-powered platform helps businesses streamline their hiring processes with fast, accurate, and reliable background checks.
“We are thrilled to have Alok Oberoi, Aakash Anand, and Caret Capital on board as we scale TraqCheck globally,” said the Founders. “This new funding allows us to expand our presence internationally, starting with the United Kingdom. Our vision is to provide companies worldwide with seamless and effective background check technology that enables confident and efficient hiring at scale.”
This Pre-Series A round follows an earlier investment secured in April 2024, which saw participation from the family office of Peyush Bansal, founder of Lenskart, alongside Caret Capital.
With its global expansion plans underway, TraqCheck remains committed to pushing the boundaries of AI-driven background verification services, offering businesses an edge in speed, cost-efficiency, and accuracy. As it ventures into international markets, TraqCheck is set to establish Indian enterprise software as a leader on the global stage.