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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Three years into its takeover by the Cyrus Poonawalla Group, the NBFC is saddled with a surge in bad loans, runaway expenses and a riven management.
A few weeks ago, when Adar Poonawalla made headlines with a Rs 1,000 crore investment in filmmaker Karan Johar’s production house for a 50% stake, the vaccine billionaire was getting into glamorous albeit uncharted territory.
But this wasn’t his first foray away from the core business of the Cyrus Poonawalla Group, which is the Serum Institute of India. Back in February 2021, he picked up a non-banking financial company by the name of Magma Fincorp.
Rebranded Poonawalla Fincorp, there was a similar level of excitement around the new business, not the least from Poonawalla himself. “I see an unlimited potential …
Bluesky vs X, the UAE deluge, Adar Poonawalla’s investment in Karan Johar’s Dharma Productions and more.
This is a golden opportunity for the vaccine billionaire to acquire half of India’s top production house, owned by filmmaker Karan Johar.
A look inside the very risky bet that has suddenly made the Serum Institute CEO Indian healthcare’s new, controversial poster boy.
