Hello,
Dairy products brand Milky Mist Dairy Food Ltd has raised about Rs 482 crore from Jongsong Investments Pte Ltd, an indirect wholly-owned subsidiary of Temasek Holdings, in a pre-initial public offering (IPO) funding round, according to a public announcement.
The news comes ahead of Milky Mist's planned market debut. In July, it filed preliminary papers with the markets regulator, Sebi, to raise funds through its public offering.
Moving on, in what's being described as an “audacious bid”, GameStop is planning to buy ecommerce giant eBay for $55.5 billion. The video game retailer’s head believes the deal could produce a “legit competitor” to Amazon, according to multiple media reports.
It is a daring move, given that Gamestop was reportedly worth $11.9 billion, while eBay was valued at $46.2 billion as of last week.
ICYMI: Bots at workplaces aren’t just tracking human productivity but are also looking for agreeability.
Lastly, a rise in demand for weight loss and diabetes drugs has left the pharmaceutical sector at risk from a “bubble effect” as profitability soars, CNBC reported citing a new research.
For the first time in 16 years, oncology has been surpassed as the largest contributor to late-stage pipeline value by obesity treatments, the report from Deloitte said.
In today’s newsletter, we will talk about
- The story of global pharma giant Lupin
- FarMart turns EBITDA profitable
Here’s your trivia for today: In what movie did Tom Hanks state "Houston, we have a problem."?
Interview
The story of global pharma giant Lupin
Desh Bandhu Gupta, who grew up in a house without electricity or water, founded Lupin, a leading pharma company that sends 20 billion pills to America every year. His biographer, Manish Sabharwal, shared the story of DBG and Indian pharma with Shradha Sharma, founder and CEO of YourStory.
“I don't think any economist in the world would suggest that the country that is 128th in per capita GDP (that is, India) would be making 60% of the world's medicines, have a third of the US FDA plants, and sell in 200 countries,” says Sabharwal, who traces the story of DBG, Lupin, and the Indian pharma sector in a recently launched book, Made in India, co-written with Sundeep Khanna.
Forging ahead:
- DBG, who passed away in 2017, is Sabharwal’s father-in-law. The TeamLease co-founder earlier co-authored Kashmir Under 370 with his father, Mahendra Sabharwal, a former Director General of Police in Jammu & Kashmir.
- In DBG’s early years, running a business often meant dealing with the state before dealing with the market.
- Sabharwal mentions that Lupin’s toughest phase came from decisions DBG himself made. At one point, “DBG had gambled on real estate and the stock market, and both had turned to dust,” says Sabharwal. The company’s market value collapsed—from Rs 1,000 crore to Rs 286 crore.
<Funding alert>
Startup: CHOSEN
Amount: $5M
Round: Series A
Startup: Tsavorite
Amount: $5M
Round: Undisclosed
Agritech
FarMart turns EBITDA profitable
Gurugram-based agrifood platform FarMart reported a strong close to FY26, exiting the year with a $400 million (~Rs 3,600 crore) revenue run rate and achieving EBITDA profitability in Q4 for the first time.
The figure reflects an annualised run rate based on Q4 FY26 performance, and not the company’s full-year revenue.
Key takeaways:
- Its gross order value (GOV) for the year stood at over Rs 2,800 crore, marking a 50% year-on-year increase from Rs 1,961 crore in FY25, the company said in a press release.
- The company has raised over $50 million across multiple rounds from investors such as Stride Ventures, Trifecta Capital, General Catalyst, and Omidyar Network.
- Founded in 2015, FarMart has also expanded its access to institutional capital through structured financing mechanisms, such as receivables securitisation, to improve working capital availability and reduce dependence on traditional lending channels.
News & updates
- Tax bill: Chairman Lee Jae-yong and other members of the family that run the South Korean corporate giant Samsung have completed the payment of a 12 trillion won ($8bn) inheritance tax bill. This is considered the largest such settlement in the country’s history.
- Data centre: Blackstone Digital Infrastructure Trust, a new investment vehicle by Blackstone, hopes to raise over $1.7 billion in an initial public offering in the United States to capitalise on booming demand in the data center sector.
In what movie did Tom Hanks state "Houston, we have a problem."?
Answer: Apollo 13
We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com.
If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.
Original Article
(Disclaimer – This post is auto-fetched from publicly available RSS feeds. Original source: Yourstory. All rights belong to the respective publisher.)
