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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.
The obscure NBFC has seen its valuation rise 700% in the last one year and managed to attract marquee investors. How?
Editor's note: By no stretch of imagination is Dhanvarsha Finvest Ltd a company to reckon with. Its revenue came in just under Rs 30 crore in 2020-21, while its net profits shrank 50%. Hardly the stuff to worry competitors or pop up on analysts’ radar. Yet, it’s a company that has piqued the interest of many in the world of finance. Last year, despite the pandemic, the Mumbai-based non-banking financial company, or NBFC, managed to raise more than Rs 100 crore in capital, 60% of it coming from foreign investors. It got big names like global investment bank Nomura to buy its stock from the open market, at a valuation more than five times the book value. It also managed to get lines of credit from banks that will ensure that it has enough funds to grant loans for the next 15 months at least. To top it off, Dhanvarsha’s stock saw a dizzying run. Shares of the company shot up 700% in the last 12 months, taking its market capitalization to Rs 1,250 crore. This makes it one of the best …
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
Dubai and Abu Dhabi markets bounce back on real estate strength and central bank support, but sentiment remains fragile amid ongoing conflict.
