Thursday's news, 17 September.
The day belonged to two rooms: the Tata Sons boardroom, where N Chandrasekaran won a fresh five-year term by majority vote with Noel Tata voting against and Tata Trusts calling it illegal, and Semicon India 2026 in New Delhi, where Applied Materials committed $5 billion to India, Nexperia tied up with Tata Electronics, and the HCL-Foxconn venture detailed its display driver chip plant. Capital markets were busy too, with NSE raising Rs 6,746 crore from anchor investors before its IPO, SEBI clearing Kuku Technologies' Rs 3,500 crore listing and RentoMojo closing its debut 32% above issue price. Globally the US Federal Reserve raised rates by 25 basis points, its first hike in three years, while CoreWeave went out for $3 billion in convertible debt and Generac signed a $2.4 billion generator deal with Amazon, all of it pointing at the same AI infrastructure build. Payments stayed contested as BharatPe backed the new UPI MDR framework and distanced itself from Ashneer Grover's remarks, and big money kept circling India through EQT's $50 billion plan and Advent's Rs 3,150 crore hospital deal. Elsewhere Apple softened its tracking prompts in Europe, a German court held Meta liable for fake ads, and cap table startup Pulley said it is closing.
These are the stories the quiz is written from, so reading on answers it.
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Drama at Tata Sons: Chandra gets fresh term; Tata Trusts calls it 'illegal'
Chandrasekaran had said last month that he would not seek another term, with his current term ending in February 2027, but the board relied on a resolution sent in by Tata Trusts last year to grant the extension. The board also moved on listing the company. Noel Tata is likely to challenge the reappointment.
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US interest rates raised for first time in three years
The Fed's quarter-point increase is its first in three years and came despite fierce opposition from Trump, whose own pick chairs the central bank. Fed chair Kevin Warsh warned of a long fight against inflation that is still too hot, and the Dow fell 750 points after his comments.
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After fallout with Chinese parent, chipmaker Nexperia partners with India's Tata
Nexperia announced the India tie-up with Tata Electronics following its split from its Chinese parent. The partnership covers chip production and packaging in India.
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NSE raises Rs 6,746 Cr from LIC, Goldman Sachs and others in anchor round ahead of mega IPO
The anchor book for the National Stock Exchange's IPO drew both domestic and overseas institutions, including LIC, Goldman Sachs and Fidelity. The allotment was disclosed in a circular on the BSE website ahead of the listing.
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Huawei plans Q1 2027 launch of new AI chip as it takes on Nvidia
Huawei is also working on ways to link very large numbers of AI chips so they run as one bigger computing system, since frontier AI work needs more power than a single chip provides. The push is aimed squarely at Nvidia's lead.
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Applied Materials to invest $5 billion in India over next decade
The plan includes a 140-acre advanced research park, a tenfold expansion of India supply chain capacity and a doubling of the India R&D workforce by 2035, along with more university partnerships. It was announced around Semicon India 2026.
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CoreWeave launches $3 billion convertible debt sale
CoreWeave's offering underlines how much capital AI data centre operators need to keep building. The company is backed by Nvidia.
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SEBI Greenlights Kuku Technologies’ ₹3,500 Cr IPO
Kuku will file an updated prospectus with SEBI within about three weeks and is eyeing a listing in the first half of 2027, according to a person familiar with the matter. The proposed issue size is Rs 3,500 crore.
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Pulley, a Carta rival, is shutting down
Pulley built cap table management software and counted General Catalyst, Stripe and Founders Fund among its backers. Its customers will need to move before the December shutdown.
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[Update] RentoMojo Shares End Market Debut 32% Above Issue Price
RentoMojo listed and closed its maiden trading session well above the IPO price. The debut adds another consumer rental name to the Indian public markets.
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Apple will let EU apps use less alarming tracking consent screens
Developers in the affected European markets will get more flexibility in how they ask users for tracking consent, with less alarming screens. The change follows competition findings that the existing prompts gave Apple an advantage.
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EQT plans $50 billion India investment, including Adani Connex
EQT chair Jean Salata set out the plan, which puts the bulk of the money into data centres and a further $5 billion into renewables. It includes the Adani Connex data centre venture.
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German court rules Meta liable for fake ads on Instagram, Facebook
The German ruling puts responsibility on Meta for scam and fake ads run by others on its two main platforms. Meta has been ordered to take such ads down.
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Advent International to invest ₹3,150 crore in Yatharth Hospital for 24.9% stake
The hospital chain says it will use Advent's global healthcare experience and its record of backing founder-led businesses. The stock hit a record high on the news.
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Generac, Amazon strike $2.4 billion long-term generator supply deal
The deal ties Generac to Amazon's power needs over several years, with the warrant worth close to $340 million if fully exercised. Generac's stock jumped about 40% on the announcement.
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BharatPe backs new UPI MDR framework; distances itself from Ashneer Grover's remarks
The clarification came as the industry argued over the return of merchant discount rate charges on some UPI transactions. BharatPe said Grover's views are his own.
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Adidas cuts jobs at tech hub in Gurugram to align operating model
The company said it will support the affected employees and keep investing in key skills at the centre. The Gurugram hub employs over 900 people.
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Practo Leadership Reshuffle: Jagnoor Singh Elevated To CEO, Shashank ND Becomes Chairman
The leadership rejig is meant to give strategic direction as Practo widens its market reach. The company has operations beyond India in the UAE and the US.
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HCL-Foxconn JV India Chip targets 40% of India’s display driver chip demand
The facility, costing more than Rs 3,700 crore, will supply display driver chips used in smartphones, laptops, cars, wearables, televisions and medical devices. The venture is between HCL and Foxconn.
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DheyaTech Bags ₹43 Cr To Scale Indigenous Gas Turbine Engine Production
The startup builds indigenous micro gas turbine engines and will use the money to scale production and prepare for flight trials in 2026. The round was led by Avaana Capital.
