Walmart-owned PhonePe is launching its Indus Appstore on February 21, competing with Google's Play Store. The marketplace boasts a zero percent fee on in-app purchases and offers localized and personalized experiences. It has partnerships with OEMs and popular apps, as well as dedicated support and account managers for developers.

Metafin, a cleantech-focused NBFC, has raised USD 5 mn in equity funding from Prime Venture Partners and Varanium Capital. They specialize in providing rooftop solar loans for semi-urban and rural MSMEs. The funds will be used for expanding across states, growing their loan book, enhancing technology, and hiring talent. Their goal is to finance over one million solar projects in the next 5 years.

Vodafone Idea has criticized a possible 2G/3G shutdown through regulatory mandate, stating that it would negatively impact low-income and marginalized consumers, widening the digital divide. The telco suggests a handset subsidy scheme to promote organic migration to 4G, instead of regulatory mandates. They also believe that more collaboration is needed to identify and launch 5G use cases.

Rashi Peripherals' Rs 600 crore IPO was oversubscribed 1.09 times on its first day, with bids for 1.54 crore shares received against the 1.42 crore shares available. Retail and HNI investors were the main contributors, buying 1.36 and 1.87 times the allotted quotas respectively. The company aims to raise funds through a fresh issue, with Rs 180 crore already raised from anchor book investors.

Pharma major Lupin Ltd. on February 7 reported a percent 300 percent year-on-year rise in consolidated net profit at Rs 613 crore for the October-December quarter of the current financial year. The company had reported a profit of Rs 157.6 crore in the same period last year. Revenue came in at Rs crore, up percent from the year-ago quarter numbers of Rs 4,322.2 crore.

SpiceJet, a low-cost airline, may settle with tech service provider Raymach Technologies over alleged outstanding dues of Rs 2.7 crore. Raymach has filed an insolvency plea against SpiceJet and NCLT has directed the airline to respond. Similar pleas have been filed by four aircraft lessors. The tribunal has dismissed two pleas and urged SpiceJet to settle with others.

Apollo Hospitals Ltd reported a 60% increase in net profit at Rs 245 crore for the October-December quarter, surpassing estimates. Revenue also rose by 14%. The company declared an interim dividend of Rs 6 per share and saw a higher EBITDA margin of 12.7%. This is a developing story. Check back for updates.

India will oppose any discussion on non-trade issues, such as EU's carbon tax on steel, iron ore, and cement imports, at the upcoming WTO Ministerial Conference. The country believes these topics should be addressed in other forums, like the UN. India has also submitted a paper expressing concerns about the carbon tax and is engaging in bilateral talks to lessen its impact on domestic industries.

Vedanta Base Metals CEO Chris Griffith plans to raise $1.3 bn for a restart of its Konkola Copper Mines unit in Zambia. The company is seeking financing partners, including potentially selling a minority stake, with Vedanta retaining majority ownership and operational control. Griffith aims to increase copper output to 200,000 tons after investing $1 billion over the next five years in the mines.

Major stock indexes, including the S&P 500 and Nasdaq, opened with gains on Wednesday fueled by strong company earnings and expectations of interest rate cuts. The Dow Jones rose by 0.24% while the S&P 500 and Nasdaq both increased by over 0.3%. Investors are eagerly awaiting updates from policymakers.

A recent survey in Pune, India found that over 5.77 lakh houses were left out of the Maratha reservation survey due to locked doors or refusal to participate. The survey aimed to gather data on social, economic, and educational backwardness in the community in order to support the state's case for a Maratha quota in the SC.

Artisan Partners, an asset management company, sold a 1.2% stake in Indus Towers for Rs 717 crore through a bulk deal on the BSE. This reduced their shareholding to 0.47%. The buyers are unknown. Last week, KKR and other entities also sold shares worth Rs 3,978 crore. Indus Towers provides telecom infrastructure and is now known as Bharti Airtel-promoted Indus Towers Ltd.

The Jana Small Finance Bank IPO received a good response from investors on February 7, with an 88% subscription rate. The bank plans to raise Rs 570 crore through its IPO and has already gathered Rs 166.95 crore from institutional investors. The IPO will close on February 9, and shares will be available for trading on February 14. The bank aims to use the funds to boost its Tier-1 capital base.

Advent International, a leading global private equity fund led by Shweta Jalan in India, has initiated merger process between its portfolio companies Suven Pharmaceuticals and Cohance Lifesciences. The merger, if approved, aims to create a top CDMO and API firm for the pharma and specialty chemical markets. Investment banks Kotak Mahindra Capital and Citi have been chosen as advisors for the deal.

Electric mobility company Magenta Mobility and commercial EV manufacturer Euler Motor are extending their partnership to include an additional 2,000 cargo e-three-wheelers. This follows the delivery of 500 vehicles to Magenta and will be manufactured at Euler Motors' Palwal facility. The collaboration aims to promote the adoption of EVs in India and contribute to sustainable transportation.