<ul><li><keyword id="6031547" type="UNKNOWN" weightage="20" keywordseo="Log-9">Log 9</keyword> Materials has raised $8.5 million in its Series A round.</li><li>It would use the capital to further develop its rapid charging system and aluminum-ion batteries.</li><li>AC Ventures, Exfinity Ventures and Sequoia Capital India’s <keyword id="6426108" type="UNKNOWN" weightage="20" keywordseo="Surge">Surge</keyword> also participated in the round.</li></ul>Bengaluru-based advanced <keyword id="168461" type="TECHNOLOGY" weightage="20" keywordseo="battery-technology">battery technology</keyword> startup Log 9 Materials has raised $8.5 million in a Series A funding round led by industrial and automotive battery maker Amara Raja Batteries (ARBL). The 36-year-old company — that has a market cap of over ₹12,000 crore — would infuse $5 million in the Bengaluru-based startup as a part of this deal. The deal is a part of the battery giant’s 'Energy and Mobility' strategy to enter new green technologies and solutions. “This will mark the first in a series of interesting developments that we plan to execute in the future. In this fast-changing technology landscape, we do not believe in a ‘one-size-fits-all’ approach and we are convinced that there will be the scope for interplay of multiple technology solutions for various applications,” Vikramadithya Gourineni, executive director at ARBL, said. The rest $3.5 million in <keyword id="11821909" type="UNKNOWN" weightage="20" keywordseo="log-9-material">Log 9 Material</keyword>’s Series A round was infused by both new and old investors, including AC Ventures, Exfinity Ventures and Sequoia Capital India’s accelerator programme Surge. Blackbuck’s cofounders Rajesh Yabaji and Chanakya Hridaya, Premji Invest’s partner Rajesh Ramaiah, Equinor’s Desikan Sundarajan and Emirates Investment Authority’s Faiz Mayalakkara also participated in the round. Founded by Akshay Singhal in 2015 at Indian Institute of Technology (IIT) Roorkee’s incubation centre TIDES, Log 9 Materials is a deeptech startup that focuses on battery technology for electric vehicles as well as other appliances. The company plans to use this latest funding to expand its production capacity and business development efforts for the latest innovation, <keyword id="11821911" type="UNKNOWN" weightage="20" keywordseo="rapid-charging-battery">Rapid Charging Battery</keyword> technology. The latest technology has completed its pilots successfully and will be rolled out for commercial use in October 2021. A part of the capital would also be used to advance other innovations like supercapacitor and aluminum fuel cell-based innovations. Supercapacitors are electrochemical energy storage devices that use power from the product/vehicle itself to power it. For instance, a supercapacitor would capture energy generated when a bus brakes and use it to start the bus again. Aluminium fuel cells are aluminium-air batteries (AI-air batteries) that produce electricity from oxygen and aluminium reactions. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/investment-firm-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management-aum/articleshow/85161486.cms">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-shares-fall-as-sc-rejects-agr-dues-re-computation-appeal/articleshow/84668288.cms"></a><a href="https://www.businessinsider.in/retail/news/future-retail-stocks-cannot-shake-off-the-shock-from-the-deal-with-reliance-falling-through/articleshow/85170165.cms" data-type="tilCustomLink">Future Group stocks cannot shake off the shock from the deal with Reliance Retail falling through</a> <a href="https://www.businessinsider.in/stock-market/markets/news/cost-cutting-is-not-helping-vodafone-idea-fresh-funds-might-but-nothing-is-coming/articleshow/84092610.cms">Cost cutting is not helping Vodafone Idea, fresh funds might ⁠— but ‘nothing is coming’</a>

Battery maker Amara Raja invests in five-year-old startup Log 9

<ul><li><keyword id="11240103" type="UNKNOWN" weightage="20" keywordseo="cartrade-ipo">CarTrade IPO</keyword> offers an attractive opportunity to invest in a new age business, say analysts.</li><li>CarTrade IPO opens on August 9 and will close on August 11.</li><li>Online auto classifieds platform looks to raise ₹2,999 crore through the issue.</li><li>It has already raised ₹900 crore from anchor investors ahead of its initial public offering (IPO).</li></ul>CarTrade is the latest one in the long line of tech startups tapping the public market with initial public offerings (IPO). Unlike Zomato, this would be the first profitable startup to hit the stock market since EaseMyTrip. The company is a 12-year old startup that operates online platforms like CarWale, CarTrade, BikeWale, CarTradeExchange and AutoBiz for users interested in buying and selling new and used vehicles. The IPO of the company opens Monday and closes on August 11. It is looking to raise around ₹3,000 crore through the public listing. Let us see what the analysts have to say about the company’s IPO: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody><tbody></tbody><tbody></tbody></table> CarTrade is a profitable player in India and one of the few players internationally in the vehicle platform space. Further, with funds of ₹668 crore in its balance sheet, CarTrade is well positioned and plans to capture adjacent business opportunities such as insurance, financing, servicing of vehicles, accessories and refurbishment and sale of cars. The public issue of the company is opening with a price band of ₹1,585-1,618 per share. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors. Analysts at Choice Broking have similar opinions about the company. “CarTrade is an electronic exchange focusing on auto sector and thus there is no peer company having similar business operations. At a higher price band...we feel it is attractive considering its scalable business model, profitable operations and business growth opportunities in the auto sector value chain,” said the report. The company’s revenue from operations have increased at a compound annual growth rate (CAGR) rate of 26.4% over FY18-FY21. CarTrade offers a unique play on rising digitisation of new and pre-owned vehicle translation value chain/ecosystem, said a report by ICICIdirect. “We assign ‘subscribe’ rating to the issue for listing gains. Long term wealth generation at CarTrade Tech will be a function of scalability, relevance and journey towards healthier return ratios,” said the report by ICICIdirect. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹101.07 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 31.3 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 25.9 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 281.5 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 318.4 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 266.8 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/freshtohome-and-bluestone-backer-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management/articleshow/85161486.cms">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/nasa-wants-paid-volunteers-to-spend-a-year-living-in-a-3d-printed-martian-habitat-in-texas-where-they-will-carry-out-spacewalks-and-research-using-vr-tech/articleshow/85149673.cms">NASA wants paid volunteers to spend a year living in a 3D-printed Martian habitat in Texas, where they will carry out spacewalks and research using VR tech</a>

CarTrade IPO ⁠— the share sale by this profitable tech startup gets a unanimous call for ‘subscribe’

<ul><li><keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword>’s share price fell another 10% on August 9.</li><li>The share price had fallen about 16% on Friday, after the deal with Reliance fell through.</li><li>CEO Kishore Biyani had previously said that the deal with Reliance Retail was a “saviour” for the company.</li></ul>Share prices of Kishore Biyani-led Future Retail have taken a nosedive after the ₹24,713 crore deal with Reliance Retail<a href="https://www.businessinsider.in/retail/news/amazon-wins-supreme-court-case-against-mukesh-ambani-reliance-retail-and-kishore-biyanis-future-group/articleshow/85092072.cms"> fell through</a> on Friday, August 6. Future Retail’s share price fell 10% onAugust 9, as of 10:15 a.m. On Friday, the stock had tanked 16% as the Supreme court passed its verdict in favour of Amazon. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Group firms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock movement on August 9, at 10:22 a.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Lifestyle Fashion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.96% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Supply Chain Solutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.98% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>The legal battle between Amazon and Future Retail dates back to August 2020, after Mukesh Ambani-led Reliance Retail agreed to buy Future Group’s retail, wholesale and warehousing assets. Amazon, which held about 3% stake in Future Retail through its 49% shareholding in Future Coupon, objected to the deal. The company highlighted that as per their investor clause, Future Group was barred from selling any of its assets to specific companies, including Reliance Industries. Future Retail was already going through a rough time with a debt of ₹10,000 crore. The Reliance-Future deal was supposed to come as a “saviour for the company, its employees and stakeholders”, CEO Kishore Biyani had <a href="https://www.timesnownews.com/business-economy/companies/article/kishore-biyani-says-ril-saviour-amazon-didn-t-help-future-group-despite-reaching-out-to-them-8-times/702472">said</a> previously. Biyani had also noted that they had reached out to Amazon several times, seeking financial help. However, the e-commerce giant never offered any support. “As part of the agreement, they could have provided us funds through affiliates or financial institutions by taking over loans from existing lenders, but they never did despite the agreement clause and our request,” he said. Why is the fall of Future-Reliance deal a cause of concern? Earlier in April 2021, a group of 28 lenders to Future Retail had approved a resolution plan to make loan repayment earlier for the Biyani-led retail giant. The company’s existing debt would have been restructured under the Reserve Bank of India’s (RBI) special scheme for COVID-related stress. The lenders had also decided to extend the period of repayment of the working capital loan by two years. The restructuring was subject to Future Group’s retail assets being acquired by Reliance Retail, as per <a href="https://www.livemint.com/companies/news/lenders-to-withdraw-debt-recast-if-future-group-ril-deal-goes-through-11619105398252.html">sources</a> aware of the matter. Apart from the ₹ 10,000 crore debt, Future Retail is also under stress financially. The retail giant had reported a revenue of ₹6,437 crore in the financial year that ended in March 2021, with a loss of ₹3,180 crore as net loss. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,437.4 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,201.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,489 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹3,180 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 33.8 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹732 crore </td></tr></tbody></table> SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/investment-firm-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management-aum/articleshow/85161486.cms" data-type="tilCustomLink">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-shares-fall-as-sc-rejects-agr-dues-re-computation-appeal/articleshow/84668288.cms">Vodafone Idea sinks nearly 10% and Airtel tumbles a bit after India’s Supreme Court denies a discount on past dues</a> <a href="https://www.businessinsider.in/stock-market/markets/news/cost-cutting-is-not-helping-vodafone-idea-fresh-funds-might-but-nothing-is-coming/articleshow/84092610.cms">Cost cutting is not helping Vodafone Idea, fresh funds might ⁠— but ‘nothing is coming’</a>

Future Group stocks cannot shake off the shock from the deal with Reliance Retail falling through

Zepto, Dunzo among the next 122 unicorns from India — here's the complete Hurun list

<ul><li>The production version of the <keyword id="11822561" type="UNKNOWN" weightage="20" keywordseo="pininfarna-battista-super-ev">Pininfarna Battista super EV</keyword> is set to be showcased at the upcoming Monterey Car Week.</li><li>Battista is among the fastest electric vehicles in the world right now.</li><li>It is said to offer a 450km range on a single charge.</li></ul>In 2015, <keyword id="6357096" type="UNKNOWN" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword> had acquired Automobili Pininfarina, paying $185 million (approx ₹1,240 crores) for the Italian automobile designing company known for its work for some of the best brands such as <keyword id="16120" type="COMPANY" weightage="20" keywordseo="Ferrari">Ferrari</keyword>, Maserati, <keyword id="46484" type="COMPANY" weightage="20" keywordseo="Rolls-Royce">Rolls-Royce</keyword>, Alfa Romeo and Cadillac. <div type="image" title="Battista Anniversario" height="900" width="1200" msid="85176187" hostid="261"></div> Fast forward to 2019, we got to see the first outcome of the acquisition in the form of <keyword id="7379722" type="UNKNOWN" weightage="20" keywordseo="pininfarina-battista">Pininfarina Battista</keyword> — an electric "hypercar" — at the Geneva Motor Show. The name of the electric vehicle (EV) is a tribute to the company's founder Battista Pininfarina. The Mahindra-owned company has managed to create one of the fastest EVs on the planet. Two years after the Battista was unveiled, Pininfarina will officially launch the Battista hyper GT at the upcoming Monterey Car Week (in the US) to be held between August 12 and August 15. <div type="image" title="Battista Anniversario" height="900" width="1200" msid="85176247" hostid="261"></div> Let's take a look at everything we know about the super EV. The Battista uses four electric motors dedicated to each wheel to create a total output of 1,400kW (kilowatt), which is equivalent to 1,900 horsepower (bhp). It draws power from a 120 kWh (kilowatt-hour) battery, whereas to put things in perspective, the Tesla Model S and Model X use a 100 kWh battery. Note that it doesn't directly define how far can it go on a single charge as factors like power, motor efficiency also come into play. <div type="image" title="Battista Anniversario" height="900" width="1200" msid="85176292" hostid="261"></div> The car generates 2,300 Nm (Newton metres) of torque and can go from 0 to 100 kilometres per hour (kmph) in just 2 seconds. Not just that, it claims a wild top speed of 350 km (217 miles) per hour, which is faster than many fuel-based supercars. For example, the Ferrari 812 Superfast claims that it can go about 340 km (211 miles) per hour top speed. The acceleration of the Battista is controlled by 390mm carbon-ceramic disc brakes with 6-piston callipers on all four wheels. With all of that under the hood, the Battista claims to last about 450 km (280 miles) on a single charge. Thankfully, to achieve that high speed, the manufacturer has not cut down on the features to keep the weight low. <div type="image" title="Battista Anniversario" height="900" width="1200" msid="85176335" hostid="261"></div> The Battista has an impressive interior as well. It's an electric luxury car, so it comes with quilted seats, three driver side screens, a premium dashboard and much more. Even on the outside, the production model is said to sport carbon-fibre body panels and matching black wheels, upholstery and interior trim elements. The Pininfarina Battista will go on sale in early 2022, and it costs more than $2.2 million (approx ₹17 crore). <keyword id="45224" type="CITY" weightage="20" keywordseo="Mahindra">Mahindra</keyword>’s future EVs might get the Battista genes Mahindra has not yet confirmed its plans of launching a commercial EV in India yet, but in an interview with CNBC TV18, the company's Managing Director and Chief Executive Officer Anish Shah said that they're outlining the strategy for EVs in the country. Giving Battista's example, he said Mahindra's EV tech outside India is great, and it will soon come to India. <div type="image" title="Battista Anniversario" height="900" width="1200" msid="85176349" hostid="261"></div> He said that Battista is a limited edition model and only 125 models will be made, however, Automobili Pininfarina chief earlier said they’ll be making 150 models. Pininfarina is working to release more electric vehicles by 2025, which might be a sign that we may soon see Battista's genes flowing down to more affordable models, and then slowly into the Indian market as and when it's ready with a more reliable EV infrastructure. 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