Category: Business

Mumbai, Mar 11: Truhome Finance Limited, formerly known as Shriram Housing Finance Limited, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹3,000 crore through an Initial Public Offering (IPO).

The proposed IPO comprises a fresh issue of equity shares aggregating up to ₹1,500 crore and an offer for sale (OFS) of equity shares aggregating up to ₹1,500 crore by the promoter selling shareholder, Mango Crest Investment Limited.

The net proceeds from the fresh issue are proposed to be utilised to augment the company’s capital base, support future capital requirements, and expand onward lending activities in line with business growth. The funds will also ensure compliance with regulatory capital adequacy requirements prescribed by the Reserve Bank of India (RBI). Deployment of proceeds is expected over the financial years ending March 31, 2027, and March 31, 2028.

Founded in 2010, Truhome Finance Limited is a retail-focused affordable housing finance company. The company was previously a wholly owned subsidiary of Shriram Finance Limited before being acquired in December 2024 by global private equity firm Warburg Pincus.

The company offers a comprehensive suite of secured lending products, including housing loans, loans against property, and other related financial offerings. As of December 31, 2025, the company reported an average ticket size of ₹2.13 million and serves primarily creditworthy self-employed customers through a diversified distribution network of 216 branches across 19 states and union territories in India, covering metropolitan as well as Tier I, Tier II, and Tier III cities.

Truhome Finance maintains a well-diversified loan portfolio, with no single state accounting for more than 18% of its assets under management (AUM). Its three largest markets—Maharashtra, Gujarat, and Tamil Nadu—collectively account for 49.70% of total AUM.

As of December 2025, the company had served over 110,000 customers, with 76.96% of AUM from self-employed borrowers and 85.32% of AUM from customers with CIBIL scores of 700 and above. Furthermore, 94.78% of loans include women as applicants or co-applicants, reflecting the company’s commitment to inclusive housing finance.

With an AUM of ₹21,124.32 crore, Truhome Finance is the third-largest affordable housing finance company in India by AUM. It is also among the fastest-growing players in the sector, recording an AUM CAGR of 48.58% from FY23 to FY25, with the highest AUM per branch at ₹107.23 crore.

Housing loans account for 57.37% of AUM with an average ticket size of ₹1.91 million, loans against property contribute 39.22% with an average ticket size of ₹2.07 million, and other loans represent 3.41% of total AUM.

During the nine months ended December 2025 (9MFY26), the company disbursed ₹6,382.45 crore in loans, maintaining a disbursement CAGR of 31.14% over FY23–FY25.

Truhome Finance has maintained strong asset quality, with gross stage-3 assets at 1.60%, net stage-3 assets at 1.09%, and 30+ days past due (DPD) at 3.15% as of December 2025.

The company’s sourcing network includes over 3,000 in-house sales personnel, 6,600 connectors, and 821 Direct Selling Agents (DSAs). Borrowings are sourced from 48 lenders, including public sector banks, private sector banks, foreign banks, and financial institutions through term loans, external commercial borrowings (ECBs), NHB refinance, non-convertible debentures (NCDs), and securitisation.

On the financial front, Truhome Finance reported a profit after tax (PAT) of ₹333.53 crore for 9MFY26, with a return on assets (RoA) of 2.66% and a return on equity (RoE) of 11.62% (annualised). Total income increased from ₹780.49 crore in FY23 to ₹1,905.48 crore in FY25, while PAT almost doubled from ₹137.75 crore to ₹286.24 crore over the same period.

The company recently appointed former Dinesh Kumar Khara, ex-Chairman of State Bank of India, as Chairperson for a five-year term. The leadership team is headed by Subramanian Jambunathan (Ravi Subramanian), MD & CEO, who brings over three decades of experience in financial services and has been associated with the Shriram Group since 2010.

JM Financial Limited, IIFL Capital Services Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited are acting as book-running lead managers to the issue.

Bangalore, Mar 11: Malaysia Airlines has announced its special fares from 10th to 23rd March for travelers in India, offering exclusive all-in return fares in economy class. Bookings will be available till 23rd March 2026, with the offer valid for travel until 18th December 2026. As the Gateway to Asia and Beyond, passengers can enjoy seamless connections to destinations such as Kuala Lumpur, Singapore, Auckland, Sydney, and more.

In addition to the special fares, the campaign will also draw attention to enhanced connectivity through new route offerings, including Firefly’s newly launched services to Cebu and Krabi. With more options for both leisure and short-haul getaways, the sale reinforces commitment to delivering greater choice, convenience, and competitive pricing for travellers during the booking period.

With the booking window available for a limited period, travellers are encouraged to plan ahead and secure their future travel plans early. Terms and conditions apply.

Mar 11: L’Atelier 1664, the lifestyle platform inspired by 1664 Blanc, has announced a creative association with leading Indian design house Abraham & Thakore. The partnership brings together modern French lifestyle sensibilities with contemporary Indian design.

Through this association, L’Atelier 1664 and Abraham & Thakore will collaborate on a series of curated experiences across fashion, design and culture. The initiative aims to celebrate craftsmanship, creativity and modern expressions of style by connecting Parisian elegance with Indian design thinking.

L’Atelier 1664 reflects the philosophy of 1664 Blanc – Good Taste with a Twist. As a lifestyle platform, it brings together tastemakers from fashion, design and cuisine to create immersive cultural experiences that celebrate individuality, creativity and refined living.

Abraham & Thakore are known for their distinctive approach to Indian design, combining traditional craftsmanship with modern aesthetics. For more than three decades, the design house has been recognised for its understated elegance, clean silhouettes and thoughtful use of textiles

Speaking about the association, Partha Sarathi Jha, Vice President, Marketing, Carlsberg India Private Limited shares

“L’Atelier 1664 was created as a platform that brings together emerging tastes, creative styles and contemporary culture trends. Our association with Abraham & Thakore brings together modern French style with Indian design, and we look forward to creating experiences that celebrate craftsmanship, individuality and creative expression.”

The visionary designer duo, Abraham & Thakore adds,

“This association with L’Atelier 1664 reflects a meeting of sensibilities – French art de vivre and the richness of Indian craftsmanship. It is a fusion of ideas that celebrates heritage, creativity, and a contemporary way of living.”

Together, the alliance forms a considered cultural exchange rather than a conventional collaboration. French modernity meets Indian craftsmanship; bold blue meets architectural white. What unites them is a belief that taste is most compelling when it carries a point of view and that true elegance lies in the confidence to add a twist.

Marking just the beginning of a creative association, the collaboration will extend beyond the runway into a series of tastefully curated events and store-led engagements across India in the months ahead.

Mumbai, Mar 11: India’s indoor amusement industry is rapidly evolving from a children-centric segment into a major pillar of the country’s growing experience economy, according to a new report titled “Ready, Set, Play: India’s Indoor Amusement Industry at a Turning Point” released by ANAROCK in collaboration with the Indian Association of Amusement Parks and Industries (IAAPI).

 The report estimates the current market size of Indoor Amusement Centres (IACs) at approximately ₹15,000 crore, reflecting sustained consumer demand, increasing formalization, and changing post-pandemic leisure preferences. Consumer spending in the sector has surged 30–40% compared to pre-pandemic levels, while Tier I cities are recording 10–15% higher per-customer spend than Tier II markets.

According to industry suppliers, consumer outlay in indoor amusement centres has increased by 15–20% in recent years, driven by greater participation, longer dwell times, and the growing popularity of immersive entertainment formats.

Commenting on the findings, Anuj Kejriwal, CEO – Retail, Leasing & Industrial Logistics at ANAROCK, said the industry is entering a transformative phase.

“India’s indoor amusement industry is evolving from predominantly children-centric recreation into a key component of the country’s experience-driven economy. Consumer spending intensity across IAC formats has strengthened significantly. As the sector expands, safety standards and regulatory clarity must remain top priorities, especially given the high footfall and complex equipment involved in these facilities.”

Post-Pandemic Boom in Experiential Demand

The COVID-19 pandemic accelerated a shift from product-led consumption to experience-driven leisure activities. With families seeking safe and engaging recreational options, indoor amusement centres have benefited from being climate-controlled and family-friendly entertainment environments.

The report’s market survey, which primarily included respondents aged 25–44, found strong demand for multi-attraction formats such as arcades, kids’ play areas, bowling alleys, and immersive gaming experiences. More than 50% of visitors spend over ₹1,000 per visit beyond ticket purchases, with additional spending on gaming credits, food and beverages, and other add-ons.

Industry Evolution and Market Outlook

The report notes that India’s indoor amusement sector generated approximately ₹8,400 crore (USD 1.009 billion) in 2024 and is projected to grow to ₹15,600 crore (USD 1.879 billion) by 2030, registering a compound annual growth rate (CAGR) of 11.3%, which surpasses the global growth rate of around 9%.

Globally, North America currently dominates the indoor amusement industry with nearly 39% market share, but the Asia-Pacific region, including India and China, is expected to drive future growth due to rapid urbanization and rising disposable incomes.

Expanding Formats and Business Models

Indoor amusement centres today span a wide variety of formats, including kids’ play zones, arcade gaming arenas, sports attractions such as bowling and trampoline parks, adventure experiences like go-karting and obstacle courses, as well as technology-driven entertainment including VR and esports gaming.

Arcades continue to remain the most popular attraction across age groups, while family-oriented play zones are particularly favored by households with young children.

Operators are increasingly focusing on capital efficiency and measured expansion, with mall-based multi-format centres becoming a dominant model in urban locations. Meanwhile, standalone and hybrid formats are emerging in densely populated areas to attract new customer segments.

Regulatory and Safety Challenges

Despite the industry’s growth potential, the report highlights several structural challenges. These include the 18% GST applied on tickets and rides, which increases pricing pressure in a cost-sensitive market, as well as varying licensing requirements across different states.

Industry stakeholders have also raised concerns about the absence of a national regulatory framework for indoor amusement centres, which can lead to operational risks and inconsistent safety standards. Operators are calling for standardized safety guidelines, streamlined municipal and fire clearances, and structured training programs for staff.

Roadmap for Sustainable Growth

The report recommends a number of measures to strengthen the sector’s long-term growth. These include rationalizing GST rates, establishing national safety and compliance standards, introducing policies that recognize indoor amusement centres as key urban entertainment infrastructure, and encouraging domestic manufacturing of amusement equipment.

According to Ankur Maheshwari, Chairman of Indian Association of Amusement Parks and Industries and Founder of Masti Zone, the report represents an important milestone for the sector.

“For over two decades, IAAPI has been at the center of India’s amusement industry. This report brings together insights from operators, developers, consumers, and policymakers to provide a comprehensive view of the indoor amusement ecosystem. With the right policy support and incentives, the industry can unlock significant growth and employment opportunities in the coming years.”

As experiential entertainment continues to gain traction across urban India, the report concludes that indoor amusement centres are poised to become a key component of the country’s evolving leisure and lifestyle economy.

Ageas Federal Life Insurance Launches Large Cap Quality Fund to Help Customers Invest in India’s Financially Strong Companies

Mumbai, Mar 11: Ageas Federal Life Insurance has announced the launch of its Large Cap Quality Fund, an open-ended index fund designed for customers seeking long-term wealth creation by investing in financially strong and well-established companies in India.

The newly launched fund is aimed at providing investors with access to a portfolio of large, stable companies that have demonstrated consistent financial performance. By focusing on businesses with strong fundamentals and disciplined financial management, the fund seeks to offer customers an opportunity to grow their wealth while remaining aligned with their long-term financial goals.

The fund follows a structured investment strategy by tracking the BSE Large Cap 100 Quality 30 Index, which selects companies based on key financial indicators such as return on equity, disciplined balance sheets, and overall financial strength. This approach enables investors to participate in the growth of companies known for stability and long-term performance.

Through this fund, investors gain exposure to a diversified basket of leading companies across multiple sectors. Such diversification helps reduce the risks associated with dependence on a single company or industry while allowing investors to benefit from India’s long-term economic growth potential.

Most of the fund’s investments will be allocated to equity shares of companies included in the index, while a small portion may be held in cash or short-term instruments to manage liquidity efficiently. By maintaining a disciplined index-tracking approach and focusing on quality businesses, the fund aims to deliver a resilient investment portfolio over the long term.

Commenting on the launch, Jude Gomes, Managing Director and CEO of Ageas Federal Life Insurance, said:

“India continues to offer strong long-term growth opportunities, and investors today are increasingly looking for stable and disciplined ways to participate in that journey. At Ageas Federal Life Insurance, we remain committed to helping customers build financial security through simple and transparent investment solutions that align with their long-term aspirations.”

With its focus on high-quality companies, diversification across sectors, and a disciplined index-based strategy, the Large Cap Quality Fund provides investors with a straightforward avenue to invest in some of India’s most fundamentally strong businesses while working toward long-term financial goals.

Industry veteran brings more than 30 years of experience launching therapies for neurological diseases, including Huntington’s disease, and will prepare Skyhawk for the launch of SKY-0515 as early as 2027.

BOSTON, Mar 11 — Skyhawk Therapeutics, Inc., a clinical-stage biotechnology company developing novel small molecule therapies to modulate critical RNA targets for a series of challenging neurological diseases, announces the appointment of Aaron Deves as Chief Commercial Officer. Mr. Deves brings more than 30 years of experience commercializing therapies for neurological disorders, including for chorea associated with Huntington’s disease (HD) with AUSTEDO^®. SKY-0515 is Skyhawk’s lead program and is being developed as a potential disease-modifying therapy for Huntington’s disease.

 

“Skyhawk may receive accelerated approval for SKY-0515 in Australia within the next twelve months, and in other major markets during 2027,” said Bill Haney, CEO of Skyhawk Therapeutics. “Aaron’s 30 years of experience successfully building commercial teams and launching innovative drugs for challenging neurological conditions helps prepare Skyhawk to bring a much-needed disease-modifying treatment to patients with Huntington’s disease as quickly as possible – pending additional clinical results and regulatory approvals.”

“I am incredibly excited to join Skyhawk,” said Aaron Deves, Chief Commercial Officer of Skyhawk Therapeutics. “Skyhawk’s Huntington’s disease program can be the cornerstone of a powerful commercial neuro business.  And the company’s rich pre-clinical pipeline of RNA targeting drug programs addresses the most impressive set of challenging neurological conditions I’ve seen in my career – and does so with small molecules that are often the most patient friendly modality. I’m thrilled to join the company to prepare for the launch of SKY-0515 and to help ensure the broadest number of patients can access this important therapy.“

Boulogne-Billancourt, France, Mar 11: Renault Group has unveiled futuREady, its new strategic plan aimed at strengthening global growth, accelerating electrification, and positioning the company as the reference European carmaker on the global stage.

 Building on the success of the Renaulution Plan, the new strategy transforms Renault’s recent turnaround into a long-term system designed to deliver sustainable and global performance. The futuREady plan places strong emphasis on products, customer experience, technological innovation, and operational excellence, while reinforcing the Group’s commitment to employees, suppliers, dealer networks, and partners.

At the center of the strategy is a strong product offensive. Renault Group plans to launch 36 new models by 2030, accelerating electrification and expanding its global portfolio. Over the medium term, the company aims to achieve an operating margin of 5% to 7% of revenue and average annual automotive free cash flow of €1.5 billion or more.

CEO Perspective

“futuREady, our new strategic plan, is a crucial step in the future of Renault Group. In an increasingly competitive environment, we can build on strong fundamentals—our brands, our products, and our financial results,” said François Provost, CEO of Renault Group.

“Since my appointment last July, our global teams have worked together to design a plan that places the Group on the path toward robust and sustainable performance. Through futuREady, we reaffirm our long-term commitment to innovation, performance, and delivering value for our customers worldwide.”

From Success Story to Success System

The Renaulution plan, introduced in 2021, successfully repositioned Renault Group among Europe’s leading automotive manufacturers by focusing on value creation, clear brand positioning, and a strong product renewal program that included 32 new model launches within five years.

With futuREady, the company now aims to build on this success and create a sustainable long-term growth model based on four strategic pillars:

• Growth Ready

• Tech Ready

• Excellence Ready

• Trust Ready

The Group will continue to strengthen its core position in Europe while expanding aggressively in key international markets such as India, South America, and South Korea.

Four Cornerstones of the futuREady Strategy

Growth Ready: Product Offensive and Customer Experience

Renault Group will complete its second major product cycle with 36 new model launches, including:

• 22 models in Europe, of which 16 will be fully electric

• 14 new models in international markets

Renault Brand

The Renault brand will accelerate growth through:

• 12 new product launches in Europe

• Expansion of electrification across its lineup

• Continued hybrid technology development beyond 2030

• 14 international product launches

By 2030, Renault aims to achieve:

• Over 2 million vehicles sold annually, with half outside Europe

• 100% electrified sales in Europe and 50% electrified globally

Dacia Brand

The Dacia brand will continue focusing on competitive pricing and strong customer value. Its strategy includes:

• Expanding electrification to two-thirds of sales by 2030

• Growing its presence in the C-segment

• Expanding its electric vehicle lineup from one model today to four by 2030

Alpine Brand

The performance-focused Alpine brand will drive growth by:

• Launching the next-generation Alpine A110 built on the Alpine Performance Platform

• Expanding with models such as Alpine A290 and Alpine A390

• Introducing exclusive limited-edition vehicles like the A110 R Ultime

The Group also aims to achieve 80% customer loyalty over a ten-year cycle by 2030, placing its brands among the top three globally in customer satisfaction.

Tech Ready: Technology as a Competitive Advantage

Technology will play a central role in the strategy, focusing on electrification, software-defined vehicles, digital technologies, and advanced platforms.

A key innovation will be the RGEV Medium 2.0 Electric Platform, designed for future C- and D-segment electric vehicles. The platform will support:

• Up to 750 km WLTP range for EV models

• Up to 1,400 km with a range extender

• 800-volt architecture enabling ultra-fast charging in about 10 minutes

The platform will also feature a Software Defined Vehicle (SDV) architecture with over-the-air software updates for 90% of vehicle functions. This system is being developed in partnership with Google and will use an Android-based car operating system.

In the future, the platform will evolve toward AI-defined vehicles, enabling advanced control of infotainment, driver assistance systems, and vehicle dynamics.

Excellence Ready: Operational Performance and Efficiency

To remain competitive globally, Renault Group will prioritize operational efficiency through:

• Two-year vehicle development cycles

• AI-driven manufacturing processes

• Digital twin technology via an industrial metaverse

The company plans to deploy 350 next-generation humanoid robots in factories and reduce production costs through:

• 30% fewer parts per vehicle

• 20% reduction in production costs

• 25% reduction in energy consumption

Additionally, AI-powered quality control systems will monitor more than 1,000 checkpoints during manufacturing, aiming to reduce incidents by 50% and cut customer complaints by threefold within five years.

Trust Ready: Strengthening Stakeholder Partnerships

The fourth pillar focuses on long-term relationships with employees, suppliers, dealers, and strategic partners.

Renault Group employs nearly 100,000 people worldwide, with leadership development and skills investment forming a key part of the strategy.

The company also maintains strong partnerships with global automotive players including:

• Nissan

• Mitsubishi Motors

• Volvo Group

• Geely

• Ford Motor Company

By 2030, Renault Group aims to produce more than 300,000 vehicles annually for partner manufacturers across three continents.

Mar 11: Raipur-based spice brand ZOFF Foods today announced that it has raised $2 million in a Pre-Series B funding round led by existing investor JM Financial Private Equity through JM Financial India Growth Fund III, along with Aman Gupta, Co-Founder of boAt. This marks the second round of investment in the company, reinforcing their continued confidence in the brand’s growth and market potential.

The fresh capital will be used to strengthen offline distribution, marketing, and sales, and accelerate expansion and omnichannel growth across India. The company will also use the funds to scale its presence across quick commerce platforms and expand its General Trade network to drive deeper market penetration. ZOFF Foods, operated by Asquare Foods & Beverages Pvt. Ltd., has built a differentiated position in India’s highly competitive spices market through its focus on purity, hygiene-led processing, in-house manufacturing, and premium packaging.

Vinit Rai, Managing Director, JM Financial Private Equity, said,

“ZOFF Foods stands out as a compelling investment opportunity in the Indian spice category. The founders have not just built a business but created a brand that resonates with consumers, which needs vision, consistency, and a deep understanding of the market. Our partnership is about accelerating their national expansion and helping ZOFF Foods become a leading FMCG brand that delivers sustainable value for years to come across households.”

“I have seen ZOFF Foods evolve from a promising challenger into a brand with strong consumer trust. What truly sets them apart is their unwavering focus on quality, innovation, and disciplined execution. My continued association reflects my strong belief in the founders’ vision and in ZOFF Foods’ ability to build a leading, future-ready brand in India’s dynamic FMCG landscape,” said Aman Gupta, Co-Founder, boAt.

Akash Agrawalla, Co-Founder, ZOFF Foods, said,

“This funding marks a key milestone in our journey as we transition into a rapidly scaling brand. As the spices category shifts towards organised, quality-led players, we believe we are well-positioned to lead this transformation. The fresh capital will help us accelerate our offline expansion, strengthen our distribution, and continue driving innovation. With a significant share of our business coming from quick commerce and general trade, our focus remains on getting even closer to consumers across markets.”

“Over the years, we have focused on innovation and earning consumer trust in a largely unorganised category. With JM Financial’s association, we are well-positioned to accelerate our next phase of expansion, bringing a proudly homegrown brand to every household in India.”Ashish Agrawal, Co-Founder, ZOFF Foods.

With this round, ZOFF Foods aims to deepen its presence across general trade, modern retail, and e-commerce platforms while expanding its product portfolio across blended spices, whole spices, and allied food categories.

Fintech and SaaS veteran with more than 30 years of experience to lead company’s technology initiatives

FOLSOM, Calif. — March 11 — One Inc, the leading digital payments network for the insurance industry, today announced the appointment of fintech transformation leader Bryan Thompson as Chief Technology Officer (CTO). With deep payments expertise, Thompson will lead the vision, strategy, and development of One Inc’s technology. He will oversee the company’s global IT roadmap, innovation initiatives, and enterprise security.

Bryan is an expert in fintech and SaaS transformations, with more than 30 years of experience building high-performing organizations focused on innovation and operational excellence. He has a proven track record in technology development, security, and large-scale platform modernization. Across enterprise and startup environments, Thompson has led financial services and SaaS companies through acquisitions, integrations, and major change initiatives. He has also built data and AI platforms that accelerate growth while improving customer experience, efficiency, and reliability.

Prior to joining One Inc, he served as CTO of professional business platform 8am (formerly AffiniPay), where he helped drive rapid SaaS growth and navigated multiple strategic acquisitions. He also served as CTO at Heartland Payment Systems, where he modernized merchant services for businesses across key sectors. Earlier in his career at EDS, Thompson built expertise in high-volume transaction processing—experience that aligns with One Inc’s mission to process complex insurance payments securely, reliably, and at scale.

“We’re pleased to welcome Bryan to our growing team of Onesters as we advance our mission to create a unified digital payments network that connects the insurance ecosystem,” said Ian Drysdale, CEO at One Inc. “Bryan’s track record leading technology development, engineering, security, and infrastructure will be critical as we build new capabilities that allow carriers to operate more efficiently and deliver on the promise of insurance.”

“Through their relentless dedication to the insurance industry, One Inc has built a reputation for delivering revolutionary solutions that enable a traditional industry to meet the rapidly evolving expectations of today’s policyholders,” added Thompson. “I look forward to working with Ian and the entire team at One Inc to build on this momentum, as carriers adopt technologies that improve operational efficiency and deliver modern, seamless experiences for policyholders.”