Anicut Capital has launched the Grand Anicut Seed Fund with a target corpus of ₹175 crore and a ₹75 crore greenshoe option. The fund will invest ₹5-8 crore each in over 20 pre-seed to Series A startups across deep-tech, enterprise tech, consumer and financial services. It has already closed three deals and is targeting its first close soon.

Skyroot Co-Founder Pawan Chandana shared that a cold LinkedIn message to entrepreneur Mukesh Bansal in 2018 led to the start of India's first space unicorn. Chandana revealed Bansal met them the same weekend and became startup's first investor with a ₹10 crore cheque. "At the time, there was no space policy. No proof...we could build an orbital rocket," he added.

Chennai-based alternative investment manager Hegdinvst has raised $1.3 million in a Series A round, exceeding its $1.1 million target. The funding, backed by domestic and international HNIs, will support sponsor and manager commitments for its proposed SEBI Category III AIF. The multi-asset hedge fund aims to generate returns across different market cycles.

Manipal Health Enterprises' IPO opened for public subscription on Wednesday and will remain open until July 31. Backed by Temasek and Ranjan Pai, the Bengaluru-based hospital chain aims to raise around ₹9,275 crore through its maiden public offering. The operator of the Manipal Hospitals network has set a price band of ₹560-590 per share.

BSE Sensex rose around 850 points, and Nifty50 jumped around 240 points intraday on Wednesday. The rally is driven by Indian IT stocks' resilience amid a global AI-led selloff, gains in the rupee, renewed foreign investor buying and expectations that US Federal Reserve will keep interest rates unchanged. Markets rose despite a sharp increase in crude oil prices today.

Indian benchmark indices were trading higher on Wednesday despite Iran launching multiple ballistic missiles at US forces in the Middle East and a surge in oil prices. At 9:55 am, the BSE Sensex was up 740.44 points at 77,506.36, while the Nifty 50 gained 218.50 points to 24,203.85. Infosys was the top gainer on the Nifty 50 in early trade.

Speaking about US' Sanctioning Russia bill, which proposes 100% tariffs on India for purchasing Russian crude oil, US Senator Richard Blumenthal explicitly said it targets only China and India. "This bill is carefully crafted to make sure we're not hitting our allies and we're hitting India and China," he said. Notably, Europe and US have trade worth billions with Russia.

Coca-Cola lost market share in India in the second quarter, CFO John Murphy said. This comes after the Middle East war triggered a Diet Coke shortage by disrupting aluminium can supplies, and a subsequent wave of "Diet Coke parties" further boosted demand. Coca-Cola recently increased the price of canned Diet Coke by more than 10% in India, Reuters had reported.

Indian Railways has launched a pilot project using AI-powered cameras to detect stains on washed bedsheets and linen at mechanised laundries in Pune, Jaipur and Jodhpur divisions. The technology works alongside Whito-Meters and CCTV monitoring to improve quality checks, ensuring cleaner bedrolls and a better travel experience for AC passengers.

Maharashtra has launched Bharat Taxi at Navi Mumbai International Airport as a cooperative alternative to private ride-hailing platforms. The zero-commission service allows drivers to become shareholders, eliminates surge pricing and hidden charges, and starts with 600 taxis. The government plans to expand the platform across Maharashtra while creating thousands of new employment opportunities.