Latest news with #Agarwal
Hindustan Times
2 hours ago
- Business
- Hindustan Times
In massive cyber heist, Bengaluru cryptocurrency firm loses ₹384 crore; Inside job suspected: Report
In a shocking development, Neblio Technologies Private Limited, headquartered in Bengaluru and operating the digital asset platform CoinDCX, has reported a significant financial setback after nearly ₹384 crore was stolen in a cyberattack described as one of the country's largest, The Indian Express reported. Bengaluru cryptocurrency firm loses ₹ 384 crore: An internal review links the breach to an employee.(Lam Yik/Bloomberg) According to a complaint filed with the authorities on July 22 by Hardeep Singh, the company's Vice-President responsible for Public Policy and Government Affairs, the breach occurred in the early hours of July 19. Unknown hackers accessed the company's cryptocurrency wallet and transferred the equivalent of 44 million dollars to six separate accounts, the report stated. ALSO READ | Bengaluru woman held for promoting anti-India propaganda of Al-Qaeda affiliate The company's internal review traced the incident back to a security compromise involving an employee identified as Rahul Agarwal, who received ₹15 lakh in his bank account. Agarwal's device, issued by the company strictly for official tasks, was allegedly misused for non-work activities. When confronted, Agarwal replied that he had been pursuing a part-time job. ALSO READ | Mangaluru Bharatanatyam dancer performs nonstop for 7 days, sets world record: Report In his statement, Singh indicated a suspicion that Agarwal might have collaborated with others to orchestrate the theft. A spokesperson for Neblio cautioned against drawing conclusions or spreading unverified news, noting that official investigations are underway and urged that no more information be released at this stage to preserve the investigation's integrity. ALSO READ | Bengaluru woman arrested as part of Gujarat social media radicalization probe Whitefield CEN police have initiated proceedings in the case, recording offences under multiple provisions of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS0, ranging from computer fraud and theft to criminal breach of trust and identity theft. Police stated that further inquiries are ongoing into the substantial heist, and more details are awaited.
Economic Times
2 hours ago
- Business
- Economic Times
Bikaji Foods forms joint venture with Nepal's Chaudhary Group
Listed snack foods maker Bikaji Foods International said Thursday that it has inked a strategic joint venture with Chaudhary Group (CG Foods Nepal), paving the way for its international expansion. The 50:50 joint venture between the two entities will involve manufacturing, trading and marketing Bikaji Foods' portfolio. Both companies will jointly invest capital in one or more tranches to build a state-of-the-art facility in Nepal, Bikaji Foods said in a statement. CG Group makes Wai Wai noodles and has interests in hospitality, infrastructure, education and financial Agarwal, managing director of Bikaji Foods, said in a statement: 'This partnership seeks to create value, empower communities, fortify supply chains and enhance Nepal's food ecosystem.'Varun Chaudhary, director of CG Foods Nepal added that the joint venture would 'create long-term value for Nepal from generating employment to strengthening supply chains.' In March this year, Haldiram Snacks Food too had onboarded new investors - Singapore's Temasek, Alpha Wave Global and International Holding Company (IHC) to further its global snack foods market is seeing double-digit surge in sales, with players such as Bikaji, Haldiram, ITC, Parle, Balaji Wafers, Crax and Yellow Diamond competing for a share in India's Rs 47,000-crore snacks to a report by research company IMARC Group, the Indian snacks market could expand to Rs 95,521.8 crore by 2032.
Economic Times
3 hours ago
- Business
- Economic Times
Knowledge Realty Trust IPO: Rs 4,800 crore issue to open on August 5. Check price band, issue details
The Rs 4,800 crore initial public offering (IPO) of Knowledge Realty Trust will hit the primary markets on August 5, with the price band fixed at Rs 95–100 per unit. The three-day issue, which will close on August 7, will open for anchor investors on August 4. ADVERTISEMENT Bids can be made for a minimum of 150 units and in multiples of 150 units thereafter, by bidders other than anchor and strategic investors. The minimum bid amount is Rs 15,000. This IPO comprises a fresh issuance of units worth up to Rs 4,800 crore by Knowledge Realty Trust through the book-building process. As per REIT regulations, up to 75% of the issue (excluding the strategic investor portion) will be allocated on a proportionate basis to institutional investors, while not less than 25% will be available to Non-Institutional Investors (NIIs). The offer document states that this REIT will be India's largest by Gross Asset Value (GAV) and most geographically diverse office REIT upon of March 31, 2025, the portfolio includes 29 Grade A office properties spanning 46.3 million square feet, comprising 37.1 msf of completed area and 9.2 msf of under-construction and future assets are strategically located across six cities—Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City in Ahmedabad—and are leased to a diverse tenant base including MNCs, global capability centers, and leading domestic firms. ADVERTISEMENT The sponsors of the REIT are Sattva Developers Private Limited and BREP Asia SG L&T Holding (NQ) Pte. Ltd. (a portfolio company of Blackstone Funds). Axis Trustee Services Limited is the Trustee, and Knowledge Realty Office Management Services Private Limited (formerly known as Trinity Office Management Services Private Limited) is the Manager to the REIT. ADVERTISEMENT Sattva Group Managing Director Bijay Agarwal stated that Knowledge Realty Trust is the culmination of the company's 30-year vision that India deserves world-class office infrastructure.'Our partnership with Blackstone has been transformative—not just in scale, but in demonstrating how the right collaboration can create something truly exceptional while making premium office real estate accessible to all investors,' Agarwal said. ADVERTISEMENT Asheesh Mohta, Senior Managing Director at Blackstone Real Estate, said the company is thrilled to launch Knowledge Realty Trust with its long-standing partner lead managers to the issue are: Kotak Mahindra Capital, Axis Capital, BofA Securities India, ICICI Securities, IIFL Capital Services (formerly IIFL Securities), JM Financial, Morgan Stanley India, and SBI Capital Markets. The registrar to the issue is Kfin Technologies Limited. ADVERTISEMENT The units are proposed to be listed on BSE and NSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
3 hours ago
- Business
- Time of India
Knowledge Realty Trust IPO: Rs 4,800 crore issue to open on August 5. Check price band, issue details
The Rs 4,800 crore initial public offering ( IPO ) of Knowledge Realty Trust will hit the primary markets on August 5, with the price band fixed at Rs 95–100 per unit. The three-day issue, which will close on August 7, will open for anchor investors on August 4. About Knowledge Realty Trust IPO Bids can be made for a minimum of 150 units and in multiples of 150 units thereafter, by bidders other than anchor and strategic investors. The minimum bid amount is Rs 15,000. This IPO comprises a fresh issuance of units worth up to Rs 4,800 crore by Knowledge Realty Trust through the book-building process. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Project Management Data Science Digital Marketing Data Science Others Data Analytics Leadership Cybersecurity Healthcare Management Finance Design Thinking others Technology MBA CXO Operations Management Product Management PGDM Degree Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details As per REIT regulations, up to 75% of the issue (excluding the strategic investor portion) will be allocated on a proportionate basis to institutional investors, while not less than 25% will be available to Non-Institutional Investors (NIIs). The offer document states that this REIT will be India's largest by Gross Asset Value (GAV) and most geographically diverse office REIT upon listing. As of March 31, 2025, the portfolio includes 29 Grade A office properties spanning 46.3 million square feet, comprising 37.1 msf of completed area and 9.2 msf of under-construction and future development. Live Events The assets are strategically located across six cities—Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City in Ahmedabad—and are leased to a diverse tenant base including MNCs, global capability centers, and leading domestic firms. Knowledge Realty Trust IPO Backers The sponsors of the REIT are Sattva Developers Private Limited and BREP Asia SG L&T Holding (NQ) Pte. Ltd. (a portfolio company of Blackstone Funds). Axis Trustee Services Limited is the Trustee, and Knowledge Realty Office Management Services Private Limited (formerly known as Trinity Office Management Services Private Limited) is the Manager to the REIT. Sattva Group Managing Director Bijay Agarwal stated that Knowledge Realty Trust is the culmination of the company's 30-year vision that India deserves world-class office infrastructure. 'Our partnership with Blackstone has been transformative—not just in scale, but in demonstrating how the right collaboration can create something truly exceptional while making premium office real estate accessible to all investors,' Agarwal said. Asheesh Mohta, Senior Managing Director at Blackstone Real Estate, said the company is thrilled to launch Knowledge Realty Trust with its long-standing partner Sattva. IPO Lead Managers The lead managers to the issue are: Kotak Mahindra Capital, Axis Capital , BofA Securities India, ICICI Securities, IIFL Capital Services (formerly IIFL Securities), JM Financial , Morgan Stanley India, and SBI Capital Markets. The registrar to the issue is Kfin Technologies Limited . Listing Details The units are proposed to be listed on BSE and NSE.
Indian Express
4 hours ago
- Indian Express
Hackers wipe out Rs 384 crore from Bengaluru cryptocurrency firm Neblio Technologies; firm says inside job
Bengaluru-based Neblio Technologies Private Limited, the parent company of cryptocurrency exchange platform CoinDCX, said it has lost Rs 384 crore due to hacking, in one of the biggest cyber crimes reported in the country. In a police complaint on July 22, Hardeep Singh, Vice-President, Public Policy and Government Affairs, Neblio Technologies, said that someone hacked into the company's wallet to transfer cryptocurrency worth $44 million (Rs 384 crore) at around 2.37 am on July 19 to six different accounts. During an internal investigation, the company found that the laptop of an employee, Rahul Agarwal, was hacked, and Rs 15 lakh was remitted to his account. When questioned, Agarwal claimed he was engaged in a part-time job. A police officer said Singh alleged in the complaint that Agarwal was given a laptop for office work, and it had been strictly mandated that he was not allowed to use it for other purposes. However, Agarwal ignored the company's mandate, he said. Singh suspected that Agarwal would have joined hands with some unknown persons to hack the cryptocurrency. While speaking to The Indian Express, a spokesperson of Neblio said, 'As the matter is currently under active investigation by the relevant authorities, we are unable to share further details at this point to ensure the integrity of the process is not compromised. We urge the media and the public to avoid speculation or the circulation of unverified information, as it may impede the ongoing investigation.' The Whitefield CEN police have registered a case under sections 66 (computer related offences), 43 (penalty and compensation for damage to computer, computer system etc), 66(c) (indentity theft) and 66(d) (cheating by personation by using computer resource) of Information Technology Act and 303 (theft), 316 (4) (criminal breach of trust), 318 (4) (cheating), 319 (2) (cheating by personation) of Bharatiya Nyaya Sanhita (BNS). The police said they are probing the matter further.
