Latest news with #VivekTiwari
Business Standard
6 days ago
- Business
- Business Standard
Fuelling Next Growth Sprint, SATYA MicroCapital Raises Rs. 300 Crore Capital via Rights Issue
NewsVoir New Delhi [India], August 13: SATYA MicroCapital Limited; an RBI registered NBFC-MFI has announced raising up to Rs. 300 Crore through rights issue of shares with pre-emptive rights for existing shareholders. The decision regarding the rights issue carries significant implications for SATYA's capital structure and future growth prospects. The proceeds from the rights issue are primarily deployed towards expanding SATYA's loan portfolio, enhancing technology infrastructure, and strengthening operational capabilities to drive inclusive growth. Additionally, this capital infusion is also aimed at further strengthening the company's capital adequacy, enhancing lending capacity, and deepening geographic outreach to marginalized communities across rural and semi-urban India. Commenting on the development, Mr. Vivek Tiwari, MD & CEO of SATYA MicroCapital, said, "SATYA has always been committed to empowering micro-entrepreneurs, especially women, by providing them with access to affordable credit. This rights issue marks another significant step towards achieving our mission of fostering financial inclusion at scale. The fresh capital will enable us to meet the growing credit demand while maintaining our focus on sustainable and responsible lending. I am thankful to all our existing shareholders who have exhibited unbounded confidence in SATYA by being a part of our progressive growth story at this attractive valuation. The microfinance sector continues to show tremendous potential, and SATYA is well-positioned to capitalize on emerging opportunities". He further added, "India's microfinance industry has demonstrated resilient growth, driven by increasing financial inclusion initiatives, supportive regulatory frameworks, and growing digital adoption in rural markets. SATYA's strategic positioning and experienced management team is all set to capture this growth potential." Since inception in 2017, SATYA has impacted over 1.6 million clients across 74,000+ villages in 26 states via robust network of 830+ branches nationwide, with a strong emphasis on creating socio-economic value in underserved segments. The rights issue reflects SATYA's long-term vision to scale operations, maintain robust asset quality, and deliver value to all stakeholders. SATYA MicroCapital Limited is a NBFC-MFI registered with the Reserve Bank of India, which provides collateral-free credit to micro and small entrepreneurs, with a strong focus on women-led enterprises. With a strong focus on driving financial inclusion and economic empowerment in rural India through innovative and socially responsible lending practices, SATYA envisions to be a catalyst for the socio-economic upliftment & economic empowerment of 10 million households by the year 2030. Driven by a deep commitment to ESG principles and measurable social impact, SATYA is shaping a future where economic empowerment begins at the grassroots building resilience, enabling sustainable income generation, and paving the way for long-term prosperity for those who are traditionally excluded from mainstream financial services.
Fashion Value Chain
6 days ago
- Business
- Fashion Value Chain
Fuelling Next Growth Sprint, SATYA MicroCapital Raises Rs. 300 Crore Capital via Rights Issue
SATYA MicroCapital Limited; an RBI registered NBFC-MFI has announced raising up to Rs. 300 Crore through rights issue of shares with pre-emptive rights for existing shareholders. The decision regarding the rights issue carries significant implications for SATYA's capital structure and future growth prospects. The proceeds from the rights issue are primarily deployed towards expanding SATYA's loan portfolio, enhancing technology infrastructure, and strengthening operational capabilities to drive inclusive growth. Additionally, this capital infusion is also aimed at further strengthening the company's capital adequacy, enhancing lending capacity, and deepening geographic outreach to marginalized communities across rural and semi-urban India. Commenting on the development, Mr. Vivek Tiwari, MD & CEO of SATYA MicroCapital, said, 'SATYA has always been committed to empowering micro-entrepreneurs, especially women, by providing them with access to affordable credit. This rights issue marks another significant step towards achieving our mission of fostering financial inclusion at scale. The fresh capital will enable us to meet the growing credit demand while maintaining our focus on sustainable and responsible lending. I am thankful to all our existing shareholders who have exhibited unbounded confidence in SATYA by being a part of our progressive growth story at this attractive valuation. The microfinance sector continues to show tremendous potential, and SATYA is well-positioned to capitalize on emerging opportunities'. He further added, 'Indias microfinance industry has demonstrated resilient growth, driven by increasing financial inclusion initiatives, supportive regulatory frameworks, and growing digital adoption in rural markets. SATYA's strategic positioning and experienced management team is all set to capture this growth potential.' Since inception in 2017, SATYA has impacted over 1.6 million clients across 74,000+ villages in 26 states via robust network of 830+ branches nationwide, with a strong emphasis on creating socio-economic value in underserved segments. The rights issue reflects SATYA's long-term vision to scale operations, maintain robust asset quality, and deliver value to all stakeholders. About SATYA MicroCapital Limited SATYA MicroCapital Limited is a NBFC-MFI registered with the Reserve Bank of India, which provides collateral-free credit to micro and small entrepreneurs, with a strong focus on women-led enterprises. With a strong focus on driving financial inclusion and economic empowerment in rural India through innovative and socially responsible lending practices, SATYA envisions to be a catalyst for the socio-economic upliftment & economic empowerment of 10 million households by the year 2030. Driven by a deep commitment to ESG principles and measurable social impact, SATYA is shaping a future where economic empowerment begins at the grassroots building resilience, enabling sustainable income generation, and paving the way for long-term prosperity for those who are traditionally excluded from mainstream financial services.
The Print
07-06-2025
- Business
- The Print
Drishti IAS to continue independently 'for now', after considering Physics Wallah deal, funding via IPO
'At Drishti IAS, our decisions are always based on a long-term vision. Though we explored various funding options during last year, including Initial Public Offering (IPO) and discussions with a few strategic investors including Physics Wallah, we have decided to continue independently for now. We hope we'll keep doing better on our own, and if required, we'll explore other options as per circumstances in the future,' Drishti IAS CEO Vivek Tiwari told ThePrint. The institute said it will continue to run independently, as it has for several years. New Delhi: A few months ago, reports suggested that unicorn Physics Wallah was in talks to acquire Drishti IAS, which is among the oldest coaching institutes for civil services preparations. While they were dismissed as mere speculations, the IAS coaching institute has now said it was indeed exploring funding options last year, including through Physics Wallah, but ultimately decided not to go ahead with it. Four major coaching institutes—Drishti IAS, Chaitanya Academy, Rau's IAS Study Circle, and Sarathi IAS—were being considered for potential acquisition as part of a larger consolidation wave in the Indian EdTech and test prep market. With online-first players like Physics Wallah and Unacademy looking to strengthen their offline footprint and diversify into civil services coaching, talks with these legacy UPSC institutes had emerged as strategic opportunities to tap into a loyal student base, particularly in Hindi-medium and regional markets. Drishti IAS was founded in 1999 by popular teacher Vikas Divyakirti in Mukherjee Nagar. It became one of the most well-known institutes for Hindi-medium UPSC aspirants. The Delhi-based institute reported a revenue of Rs 405 crore and a profit after tax of Rs 90 crore in FY24. Vikas Divyakirti's popularity is such that he even appeared in the movie 12th fail, Videos of his classes and lectures receive millions of views on social media. The institute moved to Noida last year after infrastructure issues in Mukherjee Nagar were flagged, following the death of three UPSC aspirants in another institute in the Old Rajinder Nagar area, and fire incidents at other institutes in Mukherjee Nagar. Coaching institutes came under intense scrutiny by public and authorities for infrastructure lapses and licensing issues after these incidents. Sources at Drishti IAS said the institute remains profitable. Physics Wallah is known for offering affordable online coaching. It first gained popularity through YouTube and later launched online courses for JEE and NEET aspirants for admission in engineering and medical courses. But over the last few years, it has been expanding its offerings. It entered the UPSC coaching space after joining forces with OnlyIAS in 2022. The potential acquisition of Drishti IAS was seen as a strategic move to bolster Physics Wallah's offline presence and diversify its portfolio ahead of its planned IPO. (Edited by Ajeet Tiwari) Also Read: Drishti IAS relocating to Noida, Mukherjee Nagar may see exit of other coaching centres too
Time of India
07-06-2025
- Business
- Time of India
PhysicsWallah's acquisition talks with Drishti IAS falls through; Drishti to continue as an independent company
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The proposed acquisition of the UPSC test preparation platform Drishti IAS by edtech unicorn PhysicsWallah has fallen through, say industry two companies had been in discussions over a potential strategic investment and acquisition for several months, but the talks have ultimately not an official statement to Economic Times Digital, Vivek Tiwari, CEO of Drishti IAS, said, "At Drishti IAS, our decisions are always based on a very long-term vision. Though we explored various funding options during last year, including IPO and discussions with few strategic investors, including PhysicsWallah, we have decided to continue independently for now. We hope we'll keep doing better on our own and if required, we'll explore other options as per circumstances in the future.'The development comes at a time when India's edtech sector is seeing increased focus on consolidation, operational efficiency, and profitability amid a more cautious funding environment. Several players are re-evaluating growth strategies, with partnerships and acquisitions being explored in 1999, Drishti IAS has built a strong brand in Hindi-medium UPSC preparation, offering both online and offline programmes. PhysicsWallah, which entered the unicorn club in 2022, has been expanding beyond its core NEET-JEE focus into categories such as UPSC, state exams, and professional now, Drishti IAS has opted to chart its own path forward as an independent player in the evolving education the fiscal year 2023–24 (FY24), Drishti IAS reported a revenue of Rs 405 crore. Profit after tax (PAT) stood at Rs 90 crore, underscoring both operational efficiency and sustained demand in the civil services preparation segment. With demand for quality UPSC coaching continuing to grow, the segment remains highly competitive, with both established players and digital-first platforms vying for market share.
Time of India
28-04-2025
- Business
- Time of India
Delhi Police register FIR against Medikabazaar's co-founder Vivek Tiwari
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Economic Offences Wing (EOW) of Delhi Police has registered a First Information Report (FIR) against Medikabazaar 's co-founder, Vivek Tiwari , charging him with criminal breach of trust, cheating, forgery, and falsification of EOW action follows Tiwari's recent removal from Medikabazaar's board amid allegations of financial misreporting. In a regulatory filing, Boston Ivy Healthcare Solutions—the parent company of Medikabazaar—accused Tiwari and 13 others of engaging in "malicious and fraudulent activities" that allegedly inflicted "irreparable harm" on the to a person familiar with the matter, Tiwari failed to appear before the EOW despite being summoned twice.'Tiwari is believed to have gone out of the country. His lawyers have sought anticipatory bail, but no relief has been granted yet despite assurances that he would return by April 16,' the person FIR alleges a "well-planned and deep-rooted criminal conspiracy" by Tiwari and others to siphon off more than Rs 100 crore through cheating, falsification of records, and breach of contract. Tiwari has been described as the 'kingpin' behind the an email response to ET's queries on the subject, Tiwari said the so-called dispute was a meticulously orchestrated plot by certain individuals with vested interests. They have made baseless and uncorroborated allegations to malign his reputation, he said in the e-mail.'While settlement discussions were underway on April 1, they activated their complaint before the EOW, fully aware that I was scheduled to travel to China from April 7. But an FIR was lodged against me on April 11. This FIR has been filed solely as an attempt to extract a favourable settlement from me and nothing more,' Tiwari added in the investigations conducted by Uniqus India, Alvarez & Marsal, and Rashmikant & Partners found that Tiwari had allegedly committed gross negligence, breached his fiduciary duties, and engaged in misappropriation and financial to the FIR, Tiwari and others fraudulently inflated Medikabazaar's turnover for FY22 and FY23 by recording fake entries in accounting systems Tally and Prota, with no real underlying transactions. The company also ended up paying excess GST in FY23, leading to a recorded loss of Rs 27.99 crore."Fake sales were booked to artificially inflate revenues and mislead shareholders into paying higher share prices," the FIR states.
