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Multiverse Computing raises $217 Mn to shrink AI model sizes

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BRL Editor
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Spanish AI company Multiverse Computing announced on Thursday that it has raised €189 million ($217 million) in funding from investors including Bullhound Capital, HP Inc., Forgepoint Capital, and Toshiba to advance its AI model compression technology.

The firm claims its innovation can shrink large language models (LLMs) by up to 95% without compromising performance while also cutting operational costs by as much as 80%.

Moreover, its approach blends concepts from quantum physics and machine learning to effectively simulate quantum systems—without requiring an actual quantum computer.

With this latest funding round, Multiverse has emerged as the largest AI startup in Spain. As a result, it now stands alongside Europe’s leading AI companies such as Mistral, Aleph Alpha, Synthesia, Poolside, and Owkin.

The company has already released compressed versions of LLMs, including Meta’s Llama, China’s DeepSeek, and France’s Mistral, and plans to launch additional models soon.

“We are focused just on compressing the most used open-source LLMs, the ones that the companies are already using,” Chief Executive Officer Enrique Lizaso Olmos said.

Per Roman, co-founder & managing partner, Bullhound Capital, said, “Multiverse’s CompactifAI introduces material changes to AI processing that address the global need for greater efficiency in AI, and their ingenuity is accelerating European sovereignty. Román Orús has convinced us that he and his team of engineers are developing truly world-class solutions in this highly complex and compute-intensive field. Enrique Lizaso is the perfect CEO for rapidly expanding the business in a global race for AI dominance.”

The compression tool developed by Multiverse is also accessible via the Amazon Web Services (AWS) AI Marketplace, making it easier for developers and enterprises to integrate the technology into their workflows.

Damien Henault, Managing Director, Forgepoint Capital International, added, “The Multiverse team has solved a deeply complex problem with sweeping implications. The company is well-positioned to be a foundational layer of the AI infrastructure stack. Multiverse represents a quantum leap for the global deployment and application of AI models, enabling smarter, cheaper, and greener AI. This is only just the beginning of a massive market opportunity.”

Multiverse Computing, backed by substantial funding and armed with groundbreaking compression technology, is actively working to make large language models more efficient and accessible. Its presence on the AWS Marketplace further amplifies its reach and impact. Its rise marks a significant milestone for Spain’s AI ecosystem and strengthens Europe’s position in the global AI innovation landscape.

Holiday Inn Express expands footprint in Kolkata’s New Town

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BRL Editor
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Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts

IHG Hotels & Resorts has unveiled the launch of Holiday Inn Express Kolkata New Town, strengthening its footprint in India. Situated in Rajarhat’s New Town—a rapidly growing hub known for its IT parks and business centers—the new hotel aims to cater to modern travelers.

The property offers 113 contemporary rooms, thoughtfully designed to provide both comfort and functionality. Moreover, tailored to meet the needs of both business and leisure travelers, the hotel delivers a smart, no-fuss stay experience, complete with all the essential amenities.

Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, said, “We’re excited to bring Holiday Inn Express to Kolkata’s New Town. This opening highlights our commitment to providing smart, seamless stays for today’s travelers. Being in the heart of a thriving business hub, we’re confident the hotel will cater perfectly to the needs of both corporate and leisure visitors.”

Guests at the Holiday Inn Express Kolkata New Town can start their day with a complimentary Express Start Breakfast, featuring a mix of healthy and hearty choices. For those on the go, a Grab & Go counter offers added convenience. The hotel also provides free high-speed Wi-Fi, a 24-hour fitness center, and well-equipped rooms with blackout curtains, plush bedding, and invigorating power showers for a restful stay.

Each room includes flat-screen TVs with content mirroring, flexible workspaces, and multiple USB ports, allowing guests to stay connected, productive, or simply relax. Conveniently situated near Eco Park and just a short drive from Kolkata’s city center, the hotel offers easy access to both business and leisure destinations.

Ashish Jakhanwala, Chairman, Managing Director & CEO of SAMHI Hotels Ltd., added, “We are proud to announce the opening of our latest hotel in Kolkata, a testament to our commitment to growing our portfolio of high-quality hotels in key markets. Our investment in the HIEX brand is driven by our vision to build a platform of high-quality and highly relevant products for key markets across India. This hotel also marks our first hotel in the eastern part of India and an established market like Kolkata.”

With its strategic location, modern amenities, and focus on comfort and convenience, Holiday Inn Express Kolkata New Town is set to cater seamlessly to the needs of both business and leisure travelers. The new opening reinforces IHG’s commitment to expanding its presence in key urban centers across India.

Vishnu Delight: The Future of Conscious Indian Snacking

By
Amala Sree Murali
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Aditya Goyal, CEO, Vishnu Delight

In a market saturated with buzzwords like “healthy,” “guilt-free,” and “organic,” few brands truly bridge the gap between authentic Indian food heritage and modern wellness trends. But for Aditya Goyal, founder of Vishnu Delight, the goal was never just to launch another snack label—it was to spark a deeper movement. Drawing from his background in large-scale manufacturing and a deep understanding of evolving consumer needs, Aditya envisioned a brand that could make wholesome, culturally rooted snacking both accessible and aspirational. From foxnuts (makhana) and millet-based offerings to clean-label ingredients and globally inspired functional flavors, Vishnu Delight is a response to the growing demand for food that’s not just good to eat, but good in intent.

For Aditya, it’s more than a product—it’s a purpose-driven platform inviting consumers into a lifestyle rooted in better choices, ethical origins, and intentional living. In this exclusive interview with Business Review Live, he shares the story behind the brand and how Vishnu Delight is leading the future of conscious Indian snacking.

1. What inspired you to step into the healthy snacks segment and launch Vishnu Delight?

Coming from a background steeped in large-scale manufacturing, I had a front-row view of two powerful dynamics: the efficiency of production and the growing disconnect between traditional Indian food wisdom and today’s fast-paced lifestyle. That gap inspired me to act.

I saw an opportunity to reintroduce nutrient-rich Indian snacks like makhana—but in a way that speaks to the modern, health-conscious consumer. People today want snacks that are both guilt-free and rooted in culture, and that’s exactly where Vishnu Delight finds its purpose.

2. What gap in the market did you see, and how did you envision Vishnu Delight filling it?

Although the market had no shortage of “healthy” snack options, I found that most products were missing one or more essential elements—authenticity, clean-label ingredients, or a genuine emotional connection to Indian food culture. That’s where the idea for Vishnu Delight took shape.

We set out to create snacks that deliver functional nutrition without sacrificing flavor—products that could seamlessly become part of people’s daily lives. Our focus was clear: to combine traditional Indian ingredients like makhana and millets with formats that today’s consumers appreciate.

3. What does your product development process look like—from concept to shelf?

At Vishnu Delight, our product development begins with one core principle: market listening. We constantly track evolving flavor preferences, rising health and wellness trends, and consumer pain points—through a mix of retail analytics and direct feedback from our community.

Once we identify a market need, our food technology team gets to work:

  • Recipe development: We craft formulations that prioritize clean-label ingredients while ensuring they can be produced at scale.
  • Pilot testing: Small batches are created and sampled across focus groups to gather sensory feedback on taste, texture, and mouthfeel.
  • Optimization: Based on insights, we refine until we achieve the right balance of flavor, nutrition, and shelf stability.

Before any product reaches consumers, it undergoes:

  • Lab testing for nutritional accuracy and safety
  • Shelf-life studies to ensure longevity without artificial preservatives
  • Packaging and design reviews for brand consistency and consumer appeal

This end-to-end innovation pipeline ensures that every snack we launch meets the Vishnu Delight promise—functional, flavorful, and uncompromisingly clean.

4. How do you balance innovation with nutritional integrity? Any product you’re proud of?

At Vishnu Delight, we don’t chase trends for the sake of it. Every product we create must meet three non-negotiable criteria: Clean, recognizable ingredients, Minimal processing to preserve natural integrity and Nutritional relevance aligned with modern wellness goals.

This disciplined approach ensures that each snack serves a purpose—offering both health value and everyday appeal. One product I’m particularly proud of is our flavored makhana range. We’ve carefully preserved the Ayurvedic roots of makhana while layering on bold, global flavors like Peri-peri, Thai chilli, Mint and herbs, among others. Each serving is under 100 calories, making it a light yet satisfying snack that delivers both flavor and function. By merging traditional Indian superfoods with contemporary taste profiles, we’re redefining what guilt-free snacking looks like—without compromising on health or heritage.

5. How do you ensure quality sourcing, traceability, and clean-label compliance?

At Vishnu Delight, we believe great snacks start at the source. That’s why we’ve established direct sourcing partnerships with farmers and cooperatives, particularly in Bihar—India’s heartland for premium makhana.

To maintain consistency and trust, we implement multiple layers of quality control:

  • Batch testing: Every raw material batch is tested for purity and performance.
  • Vendor audits: We conduct regular, in-depth vendor audits to ensure compliance with our standards.
  • Certified facilities: Our production units are fully FSSAI-approved, ISO-certified, and export-compliant, enabling us to deliver both domestically and internationally.

Clean labeling isn’t just a trend—it’s a core value. Our ingredient lists are Short and transparent, Made with familiar, everyday ingredients and Free from artificial preservatives, flavors, or additives. This end-to-end control allows us to offer snacks that are not only nutritionally sound and safe but also ethically and sustainably sourced.

6. What was your branding vision for Vishnu Delight?

From the very beginning, our vision for Vishnu Delight was clear: to create a brand rooted in transparency, wellness, and positivity. We wanted consumers to feel confident not just in what they were eating, but in why they were choosing us. The name ‘Vishnu Delight’ carries a deeper meaning. It draws from the idea of abundance, balance, and divine nourishment—a reminder that food can be both purposeful and joyful when rooted in tradition and care. 

Every element of the brand—from packaging to palette—was carefully crafted to reflect our values:

  • Warm, earthy tones that evoke trust and approachability
  • Clean, modern design for shelf appeal and clarity
  • Story-driven branding that celebrates Indian heritage in a contemporary voice

7. What strategies helped you engage health-conscious consumers?

At Vishnu Delight, we’ve always believed that building a meaningful brand goes beyond product—it’s about educating and engaging. From the beginning, our focus has been on storytelling with purpose. We don’t just talk about what we make, but why we make it. This approach has shaped our marketing strategy across every touchpoint. We’ve leaned into founder-driven narratives, clean, informative packaging, and customer testimonials to build trust and transparency. Our digital content highlights the benefits of ingredients like makhana and millets in ways that resonate with today’s wellness-focused consumer. Beyond digital, we’ve invested in in-store demos, influencer sampling, and corporate wellness partnerships to bring the brand experience to life. These real-world interactions help us form deeper, lasting connections with our audience—turning first-time buyers into loyal brand advocates.

8. How do you stay ahead of trends like plant-based or mindful snacking?

At Vishnu Delight, we believe in listening before launching. Our product roadmap is shaped by a combination of global wellness insights and ongoing feedback from our consumer community. This dual approach ensures we stay both relevant and responsive. We closely track international dietary trends—like gluten-free, low-glycemic index (low-GI), and plant-based eating—and explore how traditional Indian superfoods such as millets and foxnuts (makhana) can naturally align with these preferences. By blending ancient wisdom with modern nutritional science, we create products that are both globally appealing and deeply rooted in Indian heritage.

9. Are you exploring personalization in health and nutrition?

Yes, we’re already experimenting with custom gifting formats tailored to specific dietary needs—such as diabetic-friendly options, protein-rich hampers, and other wellness-focused assortments. Looking ahead, we’re excited to dive deeper into D2C personalization, where consumers can build their own healthy snack mixes based on taste, lifestyle, and nutrition goals. We see personalization as the next big shift in the snacking space, and it aligns perfectly with our mission to offer functional, conscious choices that feel personal and purposeful. It’s not just about variety—it’s about giving people control over their health through food.

10. How is Vishnu Delight incorporating sustainability?

Sustainability is a key pillar of our growth strategy at Vishnu Delight. We’ve already transitioned to recyclable packaging and are actively developing biodegradable pouch alternatives to further reduce our environmental impact. On the sourcing front, we prioritize locally grown, climate-resilient crops like makhana and millet, both known for their low water footprint and high nutritional value. Additionally, we’re minimizing production waste through smarter inventory planning and batch-level traceability, ensuring efficiency across our supply chain. These efforts reflect our broader commitment to making sustainable snacking accessible, responsible, and future-ready.

11. Are you positioning Vishnu Delight in a larger wellness ecosystem?

Absolutely. We’re already engaging in early-stage collaborations with nutritionists, fitness platforms, and wellness communities to build value-driven partnerships that go beyond snacking. These include initiatives like curated snack boxes, co-branded wellness events, and even guided diet plans that integrate our products into broader health routines. At Vishnu Delight, we see ourselves as more than just a snack brand—we’re becoming a part of our consumers’ everyday wellness lifestyle. These strategic collaborations help us deliver holistic health experiences, aligning our clean-label offerings with the growing demand for personalized, functional nutrition.

12. How has your messaging evolved for the purpose-driven buyer?

Today’s consumers care deeply about the “why” behind the brand, not just the “what” on the label. At Vishnu Delight, we’ve made a deliberate shift from simply highlighting taste to sharing our deeper values—from ethical sourcing and founder-driven storytelling to farmer empowerment and sustainable practices. This transparency has helped us build genuine trust and connection. For us, it’s no longer just about selling snacks—it’s about inviting people to be part of a movement toward cleaner, culturally rooted, and consciously crafted food. We want every customer to feel they’re not just making a purchase—they’re making a difference.

Kisah Apparels raises Rs 13-Cr from Wow Momo founder & others

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BRL Editor
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Yash Sarawagi, co-founder and CEO of Kisah Apparels

Men’s ethnicwear label Kisah Apparels has secured ₹13 crore (approximately $1.52 million) in a pre-Series A funding round, led by Wow! Momo founder Sagar Daryani, with additional backing from Apoorv Salarpuria, Rahul Todi, Vinod Dugar, and Inflection Point Ventures.

According to a press release, Kisah will use the funds to expand its offline footprint, scale its direct-to-consumer (D2C) operations, and boost brand visibility.

Founded in 2018 by Yash Sarawagi and Yashwi Ladasaria, the Kolkata-based brand offers stylish and affordable ethnicwear specifically tailored for Gen Z and millennial consumers.

Initially launched as a marketplace-first venture, Kisah has since begun transitioning into an omnichannel brand. Currently, it operates two physical retail stores; moreover, it plans to open three additional outlets soon in key Indian cities.

“E-commerce gave us pan-India reach and deep customer insights, which are now fueling our D2C and offline growth—backed by data, customer pull, and positive cash flow at the company level,” said Yash Sarawagi, co-founder and CEO of Kisah Apparels.

Kisah noted that it has developed internal systems to analyze data from both its marketplace and D2C channels. These insights help guide product design, sourcing strategies, supply chain optimization, and marketing efforts. The brand claims to have scaled from a revenue range of ₹40–45 crore to a current run rate exceeding ₹100 crore while maintaining positive operating cash flow and profitability (PAT).

Backed by strong financial growth, data-driven operations, and fresh capital, Kisah Apparels aims to accelerate its expansion and establish itself as a leading omnichannel ethnicwear brand for India’s Gen Z and millennial consumers.

Chime sets IPO price at $27 per share, aims to raise $864 Million

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BRL Editor
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Chris Britt & Ryan King, Co-founders, Chime

Fintech firm Chime announced on Wednesday that it raised $864 million through its initial public offering by pricing its shares at $27 each.

The company had initially set the price range between $24 and $26 per share.

With this IPO, Chime’s valuation stands at approximately $11.6 billion on a fully diluted basis.

Chime’s IPO stands out as one of the largest public offerings by a U.S. fintech company in recent years. It comes after a market correction that saw valuations cool from the peaks reached during the post-pandemic surge in fintech and e-commerce investments.

Founded in 2012 by former Visa executive Chris Britt and Comcast alum Ryan King, Chime delivers its services in collaboration with traditional banks. Its offerings include branded checking accounts with customer-centric features like fee-free overdrafts.

Prominent investors such as Yuri Milner’s DST Global, General Atlantic, and ICONIQ Capital backed Chime, which held a $25 billion valuation during its last major funding round in 2021.

The company is scheduled to start trading on the Nasdaq Global Select Market on Thursday under the ticker symbol ‘CHYM.’

Chime’s IPO follows the successful market debut of stablecoin issuer Circle earlier in June, a move that has helped revive momentum in the U.S. IPO market, which had been sluggish due to uncertainty surrounding the Trump administration’s tariff policies.

Chime had originally planned to go public earlier this year but postponed its launch after Trump’s “Liberation Day” tariff announcement unsettled financial markets.

With a recent uptick in listings, more companies are reigniting their IPO plans, and June is emerging as a crucial window for going public before the typical summer slowdown sets in.

As of March 31, Chime reported 8.6 million active members. According to its IPO prospectus, the company generated an average revenue of $251 per active member in Q1. Members conducted an average of 54 transactions per month, with 75% of those being purchase transactions made using Chime-branded cards.

The company earns most of its revenue through interchange fees—a portion of the transaction fees that merchants pay to payment networks like Visa when customers use Chime’s debit or credit cards.

Chime’s financial performance has improved significantly, with its net loss narrowing to 39 cents per share for the year ending December 31, compared to $3.22 in 2023 and $8.12 in 2022.

Morgan Stanley, Goldman Sachs, and J.P. Morgan Chase are serving as the lead underwriters for the IPO.

Repello AI raises $1.2 Mn in a funding round

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BRL Editor
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Naman Mishra & Aryaman Behera, Co-founders, Repello AI

Repello AI, a security startup specializing in generative AI, has secured $1.225 million in seed funding to advance its efforts in protecting GenAI systems from evolving threats.

Established in 2024, the company is developing continuous red teaming and AI guardrail solutions through its core platforms—ARTEMIS and Repello Guard.

The seed round saw participation from Venture Highway (now part of General Catalyst), pi Ventures, Entrepreneur First, and prominent angel investors such as Meta board member Charles Songhurst, Sarvam AI CEO Vivek Raghavan, and Project Hero CEO Satya Vyas.

Repello AI’s flagship product, ARTEMIS (Automated Red Teaming Engine for Mapping, Identification, and Scanning), actively scans generative AI models for vulnerabilities across various modalities such as text, image, and audio. Repello Guard supports this by actively filtering unsafe outputs and detecting risks such as prompt injections, competitor mentions, and prompt leaks in real time.

“We’re at an inflection point where AI adoption is accelerating faster than security solutions can keep pace,” said Aryaman Behera, co-founder and CEO of Repello. “Enterprises are deploying generative AI across every function, but they’re doing it with yesterday’s security playbook.”

In an exclusive conversation with AIM, Behera highlighted real-world incidents—such as a car dealership chatbot approving $1 purchases—as clear signs that AI safety must be a priority, not an afterthought. He likened unsecured generative AI applications to “a house without a door,” emphasizing the urgent need for built-in security measures.

“You need such guardrails in order to protect your AI infrastructure,” he added.

Naman Mishra, co-founder and CTO, told AIM, “With ARTEMIS, we’ve turned red teaming, which used to be a quarterly enterprise task, into an integral part of the AI deployment pipeline when it comes to AI development.” He highlighted that the goal of ARTEMIS and Repello Guard is to ensure fast and secure shipment of the products. 

Repello AI reports active deployments with companies such as Groww and PhysicsWallah and is also conducting proof of concepts (POCs) across key regions, including the US, Europe, and the Middle East.

Although it has not revealed specific revenue numbers, the company plans to use the newly secured funding to expand its product offerings, strengthen brand credibility, scale its go-to-market initiatives, and build strategic global partnerships.

Repello AI plans to use its latest funding round to strengthen the security infrastructure for generative AI systems. By actively working with industry leaders and expanding its global footprint, the startup aims to make AI safety an integral part of the development lifecycle, not an afterthought.

Credgenics eyes acquisitions after robust FY25 revenue surge

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BRL Editor
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L-R: Anand Agrawal, Mayank Khera, Rishabh Goel, co-founders, Credgenics

Debt collection technology firm Credgenics reported strong revenue growth in FY25 and is gearing up for expansion and acquisitions. The Noida-based company recorded ₹220 crore in revenue for FY25, marking a 42% increase from ₹155 crore in the previous fiscal. It also posted a profit before tax of ₹25 crore for the year.

Serving more than 150 banks and NBFCs globally, the SaaS-based platform is now sitting on a cash reserve that surpasses the total equity it has raised to date. The company plans to utilize these funds for strategic acquisitions and to expand its international footprint.

“We have built a strong cash position, exceeding the total primary equity capital we’ve raised,” Rishabh Goel, Co-founder and CEO of Credgenics said. “Our business performance has allowed us to generate additional cash beyond the capital infused in our funding rounds,” he added.

Despite a tough year for the personal lending sector, marked by declining loan disbursement volumes, Credgenics has continued to grow by harnessing artificial intelligence and diversifying into new lending categories like business loans and commercial vehicle financing. Its software solutions generate approximately 62% of the company’s revenue, while its service offerings contribute the remaining share.

“We saw a lot of traction on GenAI-based bots, a lot of manual intervention was reduced by a lot of technological intervention. 65% resolution in early stages happens digitally through bots, WhatsApp, multiple digital channels, and then remaining 35% flows to the human queue,” said Goel.

This represents a significant change from earlier, when 80% of collection calls were made manually, he added.

The company is actively exploring acquisitions as part of its strategy to evolve into a full-stack provider across the lending technology value chain.

“We are planning on becoming a full stack player, or doing more in our domain and adding infra layers in the entire lending function. We are looking at synergies in the risk side of collection,” said Goel.

Potential acquisitions could be in the areas of underwriting and risk assessment technologies.

Credgenics has already commenced international expansion, establishing operations in Indonesia in 2022 with a 12-member team. The Indonesia operation has grown into a “Rs 15 crore to Rs 20 crore territory,” according to Goel.

Unlike many startups that focus on growth at the expense of profitability in their early phases, Credgenics has adopted a disciplined capital deployment strategy. The company reported a profit before tax of around ₹25 crore in FY25, building on its profit after tax of ₹8.38 crore in the previous year, highlighting its commitment to sustainable and profitable growth.

Credgenics, which already serves over 150 active NBFCs and banks largely in the private sector, says there is still significant room for expansion.

“There are another 300 potential clients in the private sector alone that we haven’t tapped into yet,” said Goel.

Looking ahead, Goel expresses confidence about the company’s growth trajectory.

“This year, we are planning to double down in terms of the revenue numbers,” he said.

Despite ongoing challenges in the personal lending sector, where regulatory tightening has impacted unsecured lending, Goel is optimistic.

“I don’t see that (challenges) going away anytime soon, but overall growth of economy and India, and also the other lending products which are doing well, will provide opportunities for continued expansion.”

The company plans to pursue acquisitions and expand globally, positioning itself to become a comprehensive player in the lending technology ecosystem.

Table Space Launches New 180,000 sq. ft. Centre at Embassy Manyata Business Park in Bengaluru

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BRL Editor
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  • B+G+5 premium facility offers Custom-Built and ready-to-move in Suites in one of India’s most sought-after micro markets of Outer Ring Road
  • Custom-built workspace available for MNCs and GCCs
  • Premium, ready-to-move-in seats available for enterprises under Suites offering

Bengaluru, June 11, 2025— Table Space, one of India’s leading managed workspace providers, announced the launch of its newest center—Table Space MFAR 2B Embassy Manyata Business Park, located on Bengaluru’s Outer Ring Road (ORR). The ORR has swiftly emerged as Bengaluru’s most vibrant hub for Global Capability Centres (GCCs).

The centre, spread across six floors (B+G+5) and covering over 180,000 sq. ft., further strengthens Table Space’s position in India’s office market. Table Space MFAR 2B Embassy Manyata Business Park’s strategic location provides proximity to an entire ecosystem of schools, restaurants, hospitals, banks, and housing options, helping modern teams maintain a healthy work-life balance. With this launch, Table Space now has multiple centres in ORR, one of India’s leading tech corridors, and several centres in Bengaluru.

This facility brings together both of Table Space’s key offerings under one roof—custom-built workspaces for specific needs of MNCs and GCCs and Suites, Table Space’s premium ready-to-move-in solution with seats designed to serve a wide range of enterprise needs. The launch highlights the growing demand for flexible, scalable, and high-quality workspaces in Bengaluru’s key business corridors.

Commenting on the launch, Kunal Mehra, Co-CEO & President, Table Space said, “India continues to be a global hotspot for enterprise expansion, with rising demand for agile, scalable and premium workspaces across sectors such as IT/ITeS, BFSI, healthcare, and advanced tech. The launch of Table Space MFAR 2B Embassy Manyata Business Park further strengthens our commitment to this momentum. It marks another milestone in our growth journey in Bengaluru, India’s most competitive and dynamic office market.”

Sharing her perspective, Anamika Gupta, Executive Director – Sales, Table Space said, “ORR continues to be a prime hub of Bengaluru’s commercial real estate. The launch of Table Space MFAR 2B at Embassy Manyata Business Park is a significant addition to our growing footprint in this vital corridor.”

Table Space concluded FY25 with a remarkable growth in its total managed office portfolio, which now stands at over 9 million sq. ft. across India’s metro cities, as of 31st March, 2025. The company launched several new centres during the year, adding significantly to its portfolio of premium workspace across Bengaluru, Delhi NCR, Pune, Hyderabad, Mumbai, and Chennai.

About Table Space:

Table Space is one of the leading managed workspace solution providers in India and specializes in providing enterprise-managed workspace solutions to global enterprises. Founded in 2017 by former commercial real estate professionals, Table Space’s portfolio comprises over 9 million sq. ft. (over 90 lakh sq. ft.) of custom workspaces for enterprises in 29 key clusters in India as of March 31, 2025. With over 235 unique clients, including leading US-headquartered MNCs and GCCs, Table Space offers a unique solution-based approach to clients’ workspace needs. It provides a spectrum of offerings from ready-to-move-in premium managed workspaces with Suites by Table Space to fully customized end-to-end managed solutions delivered through an in-house Design Studio and Enterprise Workspace-as-a-Service (WaaS).

For media inquiries, please contact:

Afrin Shaikh Slough PR Ph: 99302 57896 Email: afrin@sloughpr.comAlok Kumar Dash Table Space alok.kumar@tablespace.com  

Blackstone secures CCI approval to acquire stake in Kolte-Patil Developers

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BRL Editor
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Blackstone has received clearance from the Competition Commission of India (CCI) for its proposed investment in Kolte-Patil Developers, which will be executed through a mix of preferential allotment and secondary share purchase.

Back in March 2025, the company announced plans for an equity infusion by BREP Asia III India Holding Co. VII, a Blackstone affiliate. Subsequently, the deal followed a two-tiered investment approach, with a total value of approximately ₹1,167 crore.

As part of this agreement, Kolte-Patil Developers will issue 12,675,685 equity shares on a preferential basis to BREP Asia III India Holding Co. VII. Kolte-Patil Developers has priced each share at ₹329, with a face value of ₹10, resulting in a capital infusion of ₹417.03 crore.

Kolte-Patil Developers and Blackstone will carry out the capital infusion by signing a Share Subscription Agreement (SSA). Alongside the preferential allotment, Blackstone will also purchase around 25.7% of Kolte-Patil’s post-issue equity capital via a secondary market transaction from the existing promoters at the same price per share, amounting to ₹750 crore.

Following the completion of the deal, Blackstone will own 40% of Kolte-Patil’s equity capital, excluding the open offer. If public shareholders fully accept the open offer for an additional 26% stake, Blackstone could increase its total holding to 66%.

The transaction also involves the signing of a Share Subscription Agreement (SSA) and a Shareholders’ Agreement (SHA) between Blackstone, Kolte-Patil Developers, and select members of the promoter group. As part of the arrangement, Blackstone will be reclassified as a promoter and, consequently, will share joint control of the company alongside the existing promoters, in accordance with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations.

After the transaction, the promoter group’s shareholding in Kolte-Patil Developers will drop from 59.52% to 33.81%, reflecting a significant stake dilution by key promoters, including Rajesh Anirudha Patil, Naresh Anirudha Patil, and Milind Digambar Kolte, among others.

Pine Labs to file DRHP for ₹5,000–6,000-Cr IPO by June-end

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BRL Editor
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Amrish Rau, CEO, Pine Labs

Merchant payments and lending platform Pine Labs is preparing to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) by the end of this month, as it moves toward a public listing scheduled for later this year, according to sources familiar with the development.

The Noida-based firm is aiming to raise ₹5,000–6,000 crore through its upcoming initial public offering (IPO), sources said. According to preliminary estimates, the listing could value Pine Labs at approximately $4–5 billion, aligning with its last private market valuation.

Pine Labs has appointed Axis Capital, JP Morgan, Morgan Stanley, Citi, and Jefferies as the lead bankers for its upcoming IPO.

“The plan is to file the DRHP by June-end and target the IPO towards the end of the year, depending on market conditions,” one of the persons cited earlier said.

Previously headquartered in Singapore, Pine Labs completed its reverse flip on April 9 following approval from the Chandigarh bench of the National Company Law Tribunal (NCLT).

For FY24, Pine Labs reported an operating revenue of ₹1,743 crore, while its loss before tax stood at ₹339 crore, as per regulatory filings.

The company is actively joining other major players preparing to enter the public markets. Groww, a stock broking and wealth management platform, filed its DRHP with SEBI in May, aiming to raise $700 million to $1 billion through its IPO. Additionally, Walmart-owned PhonePe is also expected to file its IPO documents by the third quarter of this year.

Pine Labs has been actively working toward a public listing over the past few quarters. In 2022, the company had confidentially filed IPO papers with the U.S. Securities and Exchange Commission (SEC) for a planned $500 million raise, aiming for a listing in the United States.

Over the past three years, its valuation has surged, driven by multiple equity infusions from prominent global investors including Alpha Wave, Vitruvian Partners, PayPal, and others.

Founded in 1998, Peak XV Partners-backed Pine Labs is now one of India’s largest offline merchant payment platforms. The company has since diversified into online payments, buy-now-pay-later (BNPL) solutions, and broader consumer fintech services, notably acquiring Southeast Asian fintech startup Fave in 2021.

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