Yesterday’s big news was about Hindustan Unilever Limited (HUL). The FMCG company may soon buy Jaipur-based skincare startup Minimalist. According to media reports, this deal will be worth Rs 3,000 crore. Peak XV Partners is the promoter of Minimalist.
Meanwhile, a New York court has ordered simultaneous hearing of three cases against industrialist Gautam Adani and others for corruption worth billions of rupees. The Court ordered that these cases would be heard together in a joint trial.
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1. HUL to buy skincare startup Minimalist: The deal can be done for ₹3,000 crore, Minimalist’s profit in FY2024 was ₹11 crore.
FMCG major Hindustan Unilever Limited (HUL) may soon buy Jaipur-based skincare startup Minimalist. According to media reports, this deal will be worth Rs 3,000 crore. Peak XV Partners is the promoter of Minimalist.
After this deal, Minimalist’s valuation will increase from Rs 630 crore ($75 million) to Rs 3,000 crore ($350 million) in about three years. Its valuation will increase due to stable revenue and profit profile.
2. Hearing of three cases against Adani will take place simultaneously: A New York court passed the order, the case is related to ₹2,200 crore corruption.
A New York court has ordered simultaneous hearing of three cases involving corruption allegations worth billions of rupees against industrialist Gautam Adani and others. The Court ordered that these cases would be heard together in a joint trial.
The cases that will be heard together include US v. Adani et al. (criminal case against Adani), Securities and Exchange Commission (SEC) v. Adani et al. (civil case against Adani) and SEC against Cabanes (civil case against other accused). The court made this decision after finding that these cases were related to similar allegations and transactions.
3. 2 IPOs will be opened on January 7: Opportunity to invest in Quadrant Future Tech and Capital Infra Trust, listing of shares on BSE-NSE on January 14.
The initial public offering (IPO) of Quadrant Future Tech Limited and Capital Infra Trust InvIT will open on January 7. Investors will be able to bid on this issue until January 9. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on January 14.
4. Redmi Turbo 4 smartphone with 6,550 mAh battery launched: This is the world’s first phone with the Dimension 8400-Ultra chipset, a 50 MP camera will also be available.
Technology company Xiaomi’s sub-brand Redmi has launched the Redmi Turbo 4 smartphone in its home market China. This phone will be sold in India as Poco X7 Pro. The Redmi Turbo 4 smartphone is the world’s first smartphone with the MediaTek Dimensity 8400-Ultra chipset. It has a 6,550 mAh battery for power backup. At the same time, a 50 MP main camera and 16 GB RAM are also available.
Redmi Turbo 4 has been launched in China in four variants. Its base variant with 12GB RAM + 256GB storage costs around Rs 23,490, which goes up to Rs 29,370 for the top variant with 16GB RAM + 512GB storage. Cloud White, Light Sea Blue, and Shadow Black color options are available on the phone.
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