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<ul><li><keyword id="1552189" type="General" weightage="20" keywordseo="pine-labs" source="Orion">Pine Labs</keyword>’ former CTO Sanjeev Kumar will now head the research and development (R&amp;D) vertical.</li><li>Kalagara has spent 12 years working with PayPal, three years at Flipkart and about 8 years working in the USA.</li><li>Pine Labs is expected to file the preliminary paperwork for its public listing by the end of October.</li></ul>Payments company Pine Labs, which is expected to file for its initial public offering (IPO) soon, has appointed former Flipkart executive <keyword id="12347953" type="General" weightage="20" keywordseo="phanimohan-kalagara" source="Orion">Phanimohan Kalagara</keyword> as its chief technology officer (CTO). Sanjeev Kumar, former CTO of Pine Labs, will now move to a new role within the company and head the research and development (R&amp;D) vertical. Phanimohan Kalagara has over two decades of experience in the field of technology having worked in ecommerce, financial technology, and computer-aided design &amp; computer-aided manufacturing (CAD/CAM) industries. He also has expertise in emerging technologies like virtual reality. “With Pine Labs, I see a massive opportunity to make a substantial difference to the future of merchant commerce in Asia. Looking forward to being part of this team that is set to shift the fintech landscape in Asia," Kalagara said in a press note. He has previously worked as the senior vice president of product and engineering at Flipkart, senior director of engineering PayPal and director of software development at Advanced Interactive Systems. He spent 12 years working with PayPal and three years at Flipkart. “We have made several new appointments in the past one year to bolster our technology capabilities. Phani [Kalagara] comes with a wealth of experience in product and engineering and is the right man to lead our Technology team during this exciting phase of growth for the company,” Amrish Rau, chief executive of Pine Labs, said. Pine Labs is expected to file the preliminary paperwork for its public listing by the end of October. The company is expected to list in Nasdaq listing in the US and plans to raise over a billion dollars from this issue, as per media <a href="https://www.livemint.com/market/ipo/pine-labs-may-file-for-nearly-1-bn-nasdaq-ipo-by-oct-end-11633888624007.html">reports</a>. The company has reportedly hired investment bank Morgan Stanley to manage the proposed IPO. The Noida-based fintech startup has raised $838 million to date from marquee investors like IIFL Asset Management, Fidelity Management and Research Company, Neuberger Berman Loan Advisers Holdings and more. Pine Labs had raised $100 million from Invesco Developing Markets Fund in September, and it is now valued at $3 billion. SEE ALSO <a href="https://www.businessinsider.in/tech/enterprise/news/facebook-plans-to-rebrand-itself-to-a-metaverse-company-with-a-new-name/articleshow/87150303.cms" data-type="tilCustomLink" style="">Facebook plans to rebrand itself to a metaverse company with a new name</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-rolls-out-redesigned-icons-working-on-done-and-undo-buttons-for-media-editing/articleshow/87131523.cms" style="">WhatsApp rolls out redesigned icons, working on “Done” and “Undo” buttons for media editing</a> <a href="https://www.businessinsider.in/tech/news/facebook-tests-new-feature-that-will-allow-users-to-cross-post-their-videos-and-photos-on-instagram/articleshow/87131315.cms" style="">Facebook tests new feature that will allow users to cross-post their videos and photos on Instagram</a>

IPO-bound Pine Labs appoints former Flipkart, PayPal exec Phanimohan Kalagara as CTO

<ul><li><keyword id="3827754" type="General" weightage="20" keywordseo="pinelabs" source="Orion">PineLabs</keyword> on Wednesday announced an investment in <keyword id="3465176" type="General" weightage="20" keywordseo="mosambee" source="Orion">Mosambee</keyword>.</li><li>This investment will now value Mosambee at upwards of $100 million.</li><li>Mosambee has a base of 1 million SME merchants and various government departments.</li></ul>Initial public offering (IPO)-bound fintech startup PineLabs on Wednesday announced an investment in Mosambee — an end-to-end payment solution provider in India — in exchange for a majority stake. This investment will now value Mosambee at upwards of $100 million, PineLabs has revealed. The leadership team at Mosambee will continue to operate independently and serve the needs of their customers spread across diverse industries. Founded in 2008 by Alok Arora, Bhushan Thaker and Sameer Chugh, Mosambee is a payment solution company that caters to both online and offline merchants in India and six other countries. The company claims to have a base of 1 million small, medium enterprises (SME) merchants and various government departments, who use Mosambee’s solutions to digitise their payment collections. “With the extensive reach of Pine Labs and their portfolio companies, we aim to continue to deliver strong profitability and breakthrough solutions to our clients,” Mosambee’s cofounder Chugh said. According to business intelligence platform Crunchbase, Mosambee has raised over $2.5 million prior to this. It is backed by Small Industries Development Bank of India (SIDBI) Venture Capital and Rajasthan Venture Capital Fund. Earlier this year, Mosambee announced the acquisition of Cashless Technologies that runs Benow, a ‘Buy Now, Pay Later’ startup. “Ever since its founding, Mosambee has made tremendous progress in elevating the merchant experience through cutting-edge fintech solutions. They were a natural fit for us due to our shared purpose of making innovative fintech products accessible to all and driving forward the digital payment revolution in India,” Amrish Rau, the chief executive officer (CEO) of PineLabs, said in a statement. Founded in 1998 by Lokvir Kapoor, Pine Labs is a merchant payment solutions firm that enables businesses to accept online and offline digital retail transactions. The company powers over 250,000 merchants across over 675,000 merchant network touchpoints in India and Southeast Asia. Pine Labs serves prominent large, mid-sized and small merchants across Asia and the Middle East, including Apple, Starbucks Corp, McDonald's Corp and more. It is planning on hitting the public market soon, and filed for a initial public offering (IPO) in the US in January this year. The company is reportedly planning to raise half a billion dollars from the public market, at a valuation of $6-7 billion. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/infosys-icici-bank-vedanta-among-stocks-to-watch-out-for-on-april-13/slidelist/90811799.cms">Infosys, ICICI Bank, Vedanta among stocks to watch out for on April 13</a> <a href="https://www.businessinsider.in/business/telecom/news/recommended-spectrum-prices-are-backed-by-scientific-calculations-says-trai-chief-vaghela/articleshow/90812587.cms">Recommended spectrum prices are backed by scientific calculations, says Trai chief Vaghela</a> <a href="https://www.businessinsider.in/india/news/retail-inflation-rose-to-6-95-in-march-government-data/articleshow/90802182.cms">Retail inflation rises to 6.95% in March on costlier food items</a>

IPO-bound PineLabs just added a million merchants to its kitty with its latest acquisition

Electric car maker <keyword id="107096" type="General" weightage="80" keywordseo="tesla" source="Orion">Tesla</keyword> is still facing the $2 billion lawsuit, filed against the Elon Musk-run company by hydrogen trucking startup <keyword id="1192755" type="General" weightage="100" keywordseo="nikola" source="Orion">Nikola</keyword> over design patents infringement. A <keyword id="148026" type="General" weightage="20" keywordseo="US-federal-judge" source="Orion">US federal judge</keyword> has now directed Nikola to continue its three-year-old $2 billion patent lawsuit against Tesla. The case against Tesla will still remain "administratively closed" but won't be dismissed, Judge <keyword id="3773697" type="General" weightage="20" keywordseo="james-donato" source="Orion">James Donato</keyword> said in a new order on Tuesday, reports The Verge. Nikola first filed the lawsuit in 2018, alleging that Tesla's own semi-truck infringes on a number of Nikola's design patents. "Nikola said in its original complaint that Tesla stealing its designs would rob the startup of $2 billion in market share," the report said. The judge, who on October 1 closed the case as neither Nikola nor Tesla responded to earlier orders, has now assigned Nikola two new deadlines for hearing in January 2022. "Nikola's ostensible reasons for not responding to the Court's orders are not particularly compelling," the judge said in the order. "The case will not be dismissed at this time for failure to prosecute, but that may change if Nikola does not move this case forward to resolution in an efficient and timely manner." Tesla showcased its first semi-truck in 2017. However, for years and several delays later, Tesla is yet to release the 'Tesla Semi' or the 'Megacharger' for it to date. Tesla recently delayed the first Tesla Semi deliveries to customers until 2022 when it will have more battery cell supply. The company has been spotted deploying the first Megacharger to charge its upcoming semi-electric truck at Gigafactory Nevada, the media reported this week. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/facebook-plans-to-rebrand-itself-to-a-metaverse-company-with-a-new-name/articleshow/87150303.cms">Facebook plans to rebrand itself to a metaverse company with a new name</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ipo-bound-pine-labs-appoints-former-flipkart-paypal-exec-phanimohan-kalagara-as-cto/articleshow/87151543.cms">IPO-bound Pine Labs appoints former Flipkart, PayPal exec Phanimohan Kalagara as CTO</a>

Tesla still faces $2 billion patent lawsuit by trucking startup Nikola over design patents infringement

Tokyo, An <keyword id="6362774" type="UNKNOWN" weightage="20" keywordseo="earthquake">earthquake</keyword> measuring 6.3 on the <keyword id="49760" type="PERSON" weightage="20" keywordseo="Richter-scale">Richter scale</keyword> jolted <keyword id="6355311" type="UNKNOWN" weightage="20" keywordseo="japan">Japan</keyword>'s <keyword id="8563682" type="LOCATION" weightage="20" keywordseo="Aomori-Prefecture">Aomori prefecture</keyword> on Monday, but authorities did not issue a tsunami warning. According to <keyword id="6172249" type="COMPANY" weightage="20" keywordseo="the-japan-meteorological-agency">the Japan Meteorological Agency</keyword> (JMA), the quake occurred at 2.23 a.m., with its epicenter at a latitude of 40.7 degrees north and a longitude of 142.7 degrees east, and at a depth of 10 km, reports Xinhua news agency. The earthquake logged 5 lower in some parts of Iwate prefecture and 4 in Aomori prefecture on the Japanese seismic intensity scale which peaks at 7. There were no immediate details on damages or injuries. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-say-if-you-should-subscribe-or-not-to-the-300-crore-ipo-of-antony-waste-handling-cell/articleshow/79790998.cms">Antony Waste Handling Cell ₹300-crore IPO opens today — these are the risks and opportunities</a> <a href="https://www.businessinsider.in/business/startups/news/the-founder-of-sugar-cosmetics-explains-how-the-startup-clocked-a-60-growth-in-sales-during-the-pandemic/articleshow/79832966.cms">The founder of SUGAR cosmetics explains how the startup clocked a 60% growth in sales during the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/pine-labs-valuation-crosses-2-billion-as-it-raises-fresh-funds-from-lone-pine-capital/articleshow/79833738.cms">Pine Labs' valuation crosses $2 billion as it raises fresh funds from Lone Pine Capital</a>

6.3-magnitude quake strikes Japan, no warning issued for tsunami

<ul><li>Reportedly, the <keyword id="6595454" type="General" weightage="20" keywordseo="directorate-general-of-trade-remedies" source="Orion">Directorate General of Trade Remedies</keyword> has recommended anti-dumping duty on Caprolactam from the European Union, Korea, Russia and Thailand.</li><li>This is seen benefiting the company as it had filed an application for anti-dumping duty on Caprolactam earlier.</li><li>Shares of the company rose 4% on Tuesday morning.</li></ul>Shares of <keyword id="625214" type="General" weightage="20" keywordseo="gujarat-state-fertilizers-and-chemicals" source="Orion">Gujarat State Fertilizers and Chemicals</keyword> rose over 4% on Tuesday after a report by news channel CNBCTV-18 said that India’s Directorate General of Trade Remedies (DGTR) has recommended anti-dumping duty on Caprolactam used in nylon-making from the European Union, Korea, Russia and Thailand. The Gujarat-based firm had earlier filed an application for anti-dumping duty on Caprolactam as cheap imports by some countries were disrupting trade for domestic players. The company manufactures fertilisers and industrial chemicals. <div type="image" title="gujarat state fert chart" height="900" width="1200" msid="86576500" hostid="261"></div> Basically, anti-dumping duty is a tariff imposed on imports from other countries that export products at cheaper value thereby disrupting trade in the domestic market. To ensure a level playing field in the domestic market, the government imposes anti-dumping duty on foreign imports when it believes that the goods are being “dumped” – through the low pricing – in the domestic market. Anti-dumping duty is imposed to protect local businesses and markets from unfair competition. The company had alleged that material injury was being caused to the domestic industry due to dumped imports from the subject countries and has requested the DGTR for the imposition of the anti-dumping duties on the imports. The imposition of anti-dumping duty is permissible under the World Trade Organisation (WTO) regime. The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/pine-labs-is-betting-on-these-two-segments-to-make-it-worth-6-billion-dollars/articleshow/86559235.cms">Nearly as old as Google, Pine Labs is betting on these two segments to make it worth $6 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-paras-defence-and-space-technologies-ipo-allotment/articleshow/86559437.cms">Paras Defence and Space Technologies IPO: Here’s how to check allotment status</a>

Gujarat State Fertilizers and Chemicals surges over 4% on reports of anti-dumping duty approval

Mumbai, <keyword id="6357096" type="COMPANY" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword> (M&amp;M) on Monday said that it will <keyword id="6374534" type="UNKNOWN" weightage="20" keywordseo="increase">increase</keyword> <keyword id="6366990" type="UNKNOWN" weightage="20" keywordseo="Prices">prices</keyword> of its <keyword id="6387952" type="UNKNOWN" weightage="20" keywordseo="Tractors">tractors</keyword> across <keyword id="6404377" type="UNKNOWN" weightage="20" keywordseo="models">models</keyword> from January 1 next due to the increase in input costs. The company, however, has not revealed the details of the price increase and has said in a regulatory filing that it will communicate the same in due course. "Mahindra &amp; Mahindra's farm equipment sector today announced that effective January 1, 2021, the company will increase the price of its range of tractors across models. This has been necessitated due to the increase in commodity prices," it said. The announcement comes days after the automobile major said that it will increase the price of its <keyword id="36810" type="ORGANIZATION" weightage="20" keywordseo="vehicles">vehicles</keyword> from January 1, 2021. Shares of Mahindra &amp; Mahindra on the BSE are currently trading at ₹711.00, lower by ₹21.05 or 2.88% from its previous close. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-say-if-you-should-subscribe-or-not-to-the-300-crore-ipo-of-antony-waste-handling-cell/articleshow/79790998.cms">Antony Waste Handling Cell ₹300-crore IPO opens today — these are the risks and opportunities</a> <a href="https://www.businessinsider.in/business/startups/news/the-founder-of-sugar-cosmetics-explains-how-the-startup-clocked-a-60-growth-in-sales-during-the-pandemic/articleshow/79832966.cms">The founder of SUGAR cosmetics explains how the startup clocked a 60% growth in sales during the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/pine-labs-valuation-crosses-2-billion-as-it-raises-fresh-funds-from-lone-pine-capital/articleshow/79833738.cms">Pine Labs' valuation crosses $2 billion as it raises fresh funds from Lone Pine Capital</a>

Mahindra & Mahindra to raise prices of tractors from January 1

<ul><li>Navodaya Vidyalaya Samiti (NVS) has announced its results for Jawahar Navodaya Vidyalaya (JNV) class 6 and 11 entrance exams.</li><li>Students who appeared for the entrance exam this year can check their results online just by entering their roll number and date of birth.</li><li>The entrance exam for JNV Class 6 and 11 for next year will be conducted on April 30, 2022.</li></ul>Navodaya Vidyalaya Samiti (NVS) has announced its results for Jawahar Navodaya Vidyalaya (JNV) class 6 and 11 entrance exams, which were conducted in August this year. Students who appeared for the entrance exam this year can check their results online just by entering their roll number and date of birth. Results for class 11 have been declared in the form of a selection list. Selected candidates can submit their documents at their respective JNVs. You can check the list <a href="https://drive.google.com/file/d/1p751FiZKd69AURqQ3u-X87Gh2w-R0uqE/view">here</a>. How to check results online for class 6? <ol><li>Open the official website of <a href="https://navodaya.gov.in/nvs/en/Home1">NVS</a> on your smartphone or computer. </li><li>Click on ‘view <keyword id="9428708" type="General" weightage="20" keywordseo="jnvst" source="Orion">JNVST</keyword> class 6 result 2021’ or view link. </li><li>Then enter your registration number and passcode. </li><li>After entering the registration number, click on submit. </li><li>Your result will be displayed on the screen </li><li>Candidates are advised to take a print out of the result for future references. </li></ol>How to check results offline for class 6? Students will receive their respective results via SMS as well, from the Principal of the concerned JNV. The results will also be displayed in these offices — Jawahar Navodaya Vidyalaya, District Education Officer, District Magistrate, Deputy Commissioner, Navodaya Vidyalaya of the region. The entrance exam for JNV Class 6 and 11 for next year will be conducted on April 30, 2022. The entrance exam will start at 11:30 a.m., and will be off 100 marks. The exam will be conducted in the offline mode. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/pine-labs-is-betting-on-these-two-segments-to-make-it-worth-6-billion-dollars/articleshow/86559235.cms">Nearly as old as Google, Pine Labs is betting on these two segments to make it worth $6 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-paras-defence-and-space-technologies-ipo-allotment/articleshow/86559437.cms">Paras Defence and Space Technologies IPO: Here’s how to check allotment status</a>

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IPO-bound Pine Labs appoints former Flipkart, PayPal exec Phanimohan Kalagara as CTO

Kritti Bhalla

IPO-bound PineLabs just added a million merchants to its kitty with its latest acquisition

Kritti Bhalla

Tesla still faces $2 billion patent lawsuit by trucking startup Nikola over design patents infringement

IANS

6.3-magnitude quake strikes Japan, no warning issued for tsunami

IANS

Gujarat State Fertilizers and Chemicals surges over 4% on reports of anti-dumping duty approval

Bhakti Makwana

Mahindra & Mahindra to raise prices of tractors from January 1

IANS

Jawahar Navodaya Vidyalaya entrance exam for classes 6 and 11 — Here is how to check results online

Vaamanaa Sethi

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