10, Aug 2026
Saarathi Finance opens its 100th Branch
100th branch inaugurated in Jagtial, Telangana
MUMBAI, India, Aug. 10, 2026 /PRNewswire/ — Saarathi Finance, an MSME-focused NBFC, recently announced the opening of its landmark 100th branch in Jagtial, Telangana. The new branch will strengthen the company’s presence across northern Telangana and enhance access to timely, customer-centric financial solutions for MSMEs, entrepreneurs, and small business owners in the region.
Having commenced operations in April 2025, Saarathi Finance has opened the 100-branch On 3rd August 2026, underscoring its rapid growth and commitment to expanding financial inclusion. The MSME-focused NBFC provides Loan Against Property (LAP) solutions with ticket sizes ranging from Rs. 5 lakh to Rs. 35 lakh, helping small businesses and entrepreneurs unlock the value of their assets to fuel growth, enhance working capital, and achieve their business aspirations.
Jagtial which is 190 km north of Hyderabad, is both an agricultural and commercial center with a flourishing MSME presence. Saarathi has opened 20 branches across Telangana in the last one year and has spread its footfall in all parts of the state.
Saarathi Finance has already crossed an Assets Under Management (AUM) of Rs. 650 crore, reflecting the strong trust reposed by its customers and the company’s robust growth trajectory. The company is rapidly expanding its operations across Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Uttar Pradesh and Rajasthan with plans to further strengthen its presence in high-potential MSME markets across India. Through its expanding branch network and customer-centric approach, Saarathi Finance aims to improve access to formal credit and empower entrepreneurs and small businesses nationwide.
Commenting on the opening of the company’s 100th branch, Mr. Vivek Bansal, Founder and CEO, said, “Reaching the 100-branch milestone and crossing an AUM of Rs. 650 crore reflects the strength of our business model and execution. As we continue to expand, our focus will remain on sustainable growth, prudent risk management, and building a technology-driven lending franchise that creates long-term value for all our stakeholders.”
Shashi Shekhar Vempati, Independent Director, Saarathi Finance, added, “The opening of Saarathi Finance’s 100th branch in just over year, is a testament to the company’s vision of combining technology, strong governance and customer-centricity to drive financial inclusion. As India continues its digital transformation, institutions that responsibly expand access to credit for MSMEs will play a pivotal role in enabling entrepreneurship, fostering innovation and contributing to sustainable economic growth.”
Commenting on the occasion Mr. Gopal Srinivasan, Chairman & Managing Director of TVS Capital, said, “A hundred branches in just over a year — this is a testament to Saarathi’s leadership and team. Pace and discipline at this scale rarely go together — Saarathi has managed both. At a company just over a year old, it speaks directly to the calibre of the people driving it. At TVS Capital, we back founders who build with ambition and rigour — and Saarathi has shown exactly that combination from the very start. We are proud to be partners on this journey and wish the entire team continued success.”
About Saarathi Finance:
Saarathi Finance & Credit Pvt Ltd. is an NBFC focused on providing accessible and tailored credit solutions to MSMEs across semi-urban and rural India. With a mission to bridge the ₹44 lakh crores credit gap in the MSME sector, Saarathi combines technological innovation with a deep understanding of local markets to offer loans that meet the unique needs of small business owners. The company operates with the guiding principle: “Aap Akele Nahi Hai”- You are not alone.
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- By Sai Krishna
10, Aug 2026
Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.81 Million Tokens, and Total Crypto and Total Cash Holdings of $11.6 Billion
Bitmine owns 4.8% of the total ETH coin supply of 120.7 million
Bitmine is 96% of the way to the ‘Alchemy of 5%’ in just 14 months
In July, ETH outperformed Nasdaq 100 by 2,500 basis points, the largest since July 2025, reflective of the strengthening fundamentals of crypto
Bitmine repurchased 3.0 million common stock in the past week, and has repurchased over 19 million shares cumulatively since July 2026 under its previously announced $4 billion share repurchase program
Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026
Bitmine’s Series A Preferred Stock is trading on the NYSE under the symbol BMNP
Bitmine has 5,067,309 staked ETH, representing $9.8 billion at $1,928 per ETH. MAVAN (Made in America VAlidator Network) is a premier Ethereum staking destination for BMNR and institutional investors
Bitmine owns $69 million of Eightco (NASDAQ: ORBS), now one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI
Bitmine Crypto + Total Cash Holdings & Marketable Securities + “Moonshots” total $11.6 billion, including 5.81 million ETH tokens, total cash & marketable securities of $104 million, and other crypto holdings
Bitmine remains supported by a premier group of institutional investors including ARK’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas “Tom” Lee to support Bitmine’s goal of acquiring 5% of ETH
NORWALK, Conn., Aug. 10, 2026 /PRNewswire/ — (NYSE: BMNR) Bitmine Immersion Technologies, Inc. (“Bitmine” or the “Company”) a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash & marketable securities + “moonshots” holdings totaling $11.6 billion.
As of August 9, 2026 at 6:30pm ET, the Company’s crypto holdings are comprised of 5,805,238 ETH at $1,928 per ETH (per Coinbase), 209 Bitcoin (BTC), $180 million stake in Beast Industries, $69 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and total cash & marketable securities of $104 million. Bitmine’s ETH holdings are 4.8% of the ETH supply (of 120.7 million ETH).
“We are disappointed that the CLARITY Act will not see a Senate vote before the August recess, but financial markets seem more focused on the recent softer inflation and jobs data. The odds of a Sept. hike by the Federal Reserve have fallen to 40% from 75% two weeks ago,” stated Thomas “Tom” Lee, Chairman of Bitmine. “We expect easing financial conditions to be a tailwind for crypto.”
“Since Bitmine pivoted to an Ethereum Treasury strategy on June 30 of last year, sizable outperformance of ETH vs Bitcoin (monthly) has typically been followed by Bitmine’s shares outperforming ETH over the following month. In July, ETH outperformed Bitcoin by 1,100bp similar to July 2025, Dec 2025, March 2026 and in those instances, Bitmine’s shares saw strong outperformance over ETH in the following two months.” continued Lee.
“We continue to view Bitmine’s common shares as undervalued and the Company repurchased 3 million shares during the past week, bringing total common equity repurchases to over 19 million common shares since the start of July. This buyback remains the largest ever executed by any Ethereum, Bitcoin or crypto DAT (Digital Asset Treasury),” continued Lee. Since July 1, 2026, Bitmine has repurchased 19.1 million shares of common stock under the previously authorized $4 billion share repurchase program.
“Over the past week, we acquired 7,391 ETH. Bitmine has bought ETH every week since the inception of the ETH Treasury Strategy on June 30, 2025 about 14 months ago,” stated Lee.
On July 16, 2026, Bitmine released the latest Chairman’s Message (link here) for July 2026. The title of the Message is “ETH is the cure for the Uncanny Valley of Wealth.”
Earlier in 2026, Bitmine launched MAVAN (the Made in American VAlidator Network), the institutional grade staking platform. While MAVAN was originally developed to support Bitmine’s own Ethereum treasury, MAVAN intends to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine’s ETH is already staked on the MAVAN platform.
As of August 9, 2026, Bitmine total staked ETH stands at 5,067,309 ($9.8 billion at $1,928 per ETH). “Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $294 million on an annualized basis (using 2.63% 7-day BMNR yield),” stated Lee.
“Annualized staking revenues are now projected at $257 million. And this 5.1 million ETH is 87% of the 5.81 million ETH held by Bitmine. Bitmine’s own staking operations generated a 7-day yield of 2.63% (annualized),” continued Lee.
Bitmine’s crypto holdings reign as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc., which reportedly owns 842,138 BTC valued at approximately $59 billion. Bitmine remains the largest ETH treasury in the world.
Bitmine management believes the GENIUS Act and the Securities and Exchange Commission’s (SEC) Project Crypto are as transformational to financial services in 2026 as the US action on August 15, 1971, which ended the Bretton Woods system and took the U.S. dollar off the gold standard 54 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.
The Chairman’s message can be found here:
https://www.Bitminetech.io/chairmans-message
The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here: https://Bitminetech.io/investor-relations/
To stay informed, please sign up at: https://Bitminetech.io/contact-us/
About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR), and its subsidiaries (“Bitmine” or the “Company”), is a blockchain technology infrastructure company operating across institutional digital asset staking and validation services, bitcoin mining, and strategic digital asset management. As the world’s leading Ethereum Treasury company, it implements an innovative digital asset strategy for institutional investors and public market participants. The Company provides institutional-grade staking and validation infrastructure—through which it earns staking rewards and validation income—alongside bitcoin mining activities. Bitmine holds digital assets strategically, generating yield on those holdings to support liquidity and capital formation. During 2025, the Company expanded its blockchain infrastructure capabilities, including developing and deploying MAVAN, its institutional staking and validation platform. The Company’s activities further include investments in early-stage blockchain opportunities (“moonshot” investments) and ancillary mining, hosting, and consulting services.
For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include all statements that are not purely historical and can generally be identified by terms such as “expects,” “projects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” “forecasts,” “targets,” “goals,” “may,” “will,” “would,” “could,” “should,” or similar expressions, or the negative of such terms, or other comparable terminology. This press release specifically contains forward-looking statements regarding, among other things: (i) the Company’s goal of acquiring 5% of the total ETH supply (the “Alchemy of 5%” initiative) and statements regarding its progress toward this goal; (ii) the Company’s digital asset accumulation and treasury strategy, including statements regarding continued weekly ETH acquisitions and the Company’s status as the largest ETH treasury in the world; (iii) the Company’s staking operations, including projected annualized ETH staking rewards of approximately $294 million (assuming Bitmine’s ETH is fully staked by MAVAN and its staking partners at scale), current projected annualized staking revenues of approximately $257 million, and the 7-day yield of 2.63% (annualized); (iv) MAVAN’s intended expansion to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure; (v) the Company’s $4 billion share repurchase program, including statements regarding the execution, size, and potential accretive value of such program; (vi) management’s views regarding the valuation of the Company’s common shares and expectations regarding future stock price performance relative to ETH and other digital assets; (vii) expectations regarding the relationship between ETH performance versus Bitcoin or the Nasdaq 100 and subsequent performance of the Company’s shares; (viii) statements regarding the impact of macroeconomic factors, including Federal Reserve policy, inflation data, and labor market conditions, on digital asset markets and financial conditions; (ix) management’s belief that the GENIUS Act and SEC Project Crypto are transformational to financial services; (x) statements regarding the Company’s investment in Eightco Holdings (NASDAQ: ORBS) as providing indirect exposure to OpenAI; and (xi) the future growth, advancement, and strategic direction of the Company’s Ethereum treasury strategy and blockchain infrastructure capabilities.
These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause or contribute to such differences include, but are not limited to: the extreme volatility and unpredictability of digital asset prices, including ETH and Bitcoin; changes in market conditions affecting the trading price of the Company’s common stock and Series A Preferred Stock; the Company’s ability to successfully execute its digital asset acquisition strategy and achieve its ETH accumulation targets; the Company’s ability to finance its business operations, Ethereum treasury operations, MAVAN expansion, and share repurchase activities; operational, security, and technological risks associated with the Company’s staking and validation operations, including network failures, cybersecurity breaches, and protocol changes; competition in the digital asset treasury, staking, and mining industries; the Company’s dependence on key personnel, including executive leadership; regulatory developments affecting digital assets, blockchain technology, and staking activities in the United States and globally, including the ultimate enactment, implementation, and interpretation of the GENIUS Act, CLARITY Act, and other pending legislation and regulatory initiatives; actions by the SEC, CFTC, and other regulatory bodies affecting digital assets and related businesses; risks related to the Company’s investments in early-stage blockchain opportunities (“moonshot” investments), including the investment in Eightco Holdings; macroeconomic factors, including inflation, interest rates, Federal Reserve monetary policy, and general economic conditions affecting investor sentiment toward digital assets; changes to the Ethereum protocol, including staking mechanics, validator requirements, and reward structures; risks related to AI systems and their potential impact on cryptocurrency markets and blockchain technology; the performance of third-party service providers, exchanges, and custodians; risks related to the concentration of the Company’s assets in digital currencies; and the other risk factors described in the Company’s filings with the SEC.
The forward-looking statements contained in this press release are based on information available to management as of the date of this release and reflect management’s current expectations, estimates, forecasts, and projections, as well as management’s assumptions and beliefs concerning future events. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including those described above and in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC on November 21, 2025, the Company’s Quarterly Reports on Form 10-Q, and the Company’s other filings with the SEC, as amended or updated from time to time. Copies of these filings are available on the SEC’s website at www.sec.gov and on the Company’s website at https://Bitminetech.io/investor-relations/. Forward-looking statements speak only as of the date on which they are made. Bitmine expressly disclaims any obligation or undertaking to update, revise, or supplement any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statements are based, except as required by applicable law or regulation.
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10, Aug 2026
Students of Chandigarh University Bags Gold and Silver Medals at Glasgow Commonwealth Games 2026
Priya Ghanghas Wins Gold in Boxing and Valluri Ajay Babu Bags Silver in Weightlifting during the Glasgow Commonwealth Games 2026
CHANDIGARH, India, Aug. 10, 2026 /PRNewswire/ — Chandigarh University is flying the flag of success not only on the national stage but on the international stage as well. The University’s students are putting up an outstanding display of their talent and bringing laurels to both the country and the University on the international stage. Two Chandigarh University students, Priya Ghanghas (Boxing) and Valluri Ajay Babu (Weightlifting), have brought pride to India and Chandigarh University with their brilliant performances at the Glasgow Commonwealth Games 2026. Teams from 74 countries took part in 10 different sports during the 11-day event.
At the Commonwealth Games 2026 held in Glasgow, international boxer and Chandigarh University BA student Priya Ghanghas won the gold medal in the 60 kg weight category, while international weightlifter and Chandigarh University BA student Valluri Ajay Babu secured the silver medal in the men’s 79 kg weight category, bringing pride to the country.
Priya Ghanghas, a BA student at Chandigarh University, won India a gold medal in boxing at the Commonwealth Games 2026, put up a superb performance to claim the gold. The international boxer, who began her boxing career with gold medals at the Asian Under-22 and Under-19 Championships in 2025, delivered an exceptional performance in the 60 kg weight category and won the gold medal by defeating her opponent, Canada’s Marie-Batoul Al-Ahmadieh, 4-1 in the final bout.
International boxer Priya, who hails from Haryana, has an outstanding international boxing record. In 2025, she displayed her boxing prowess at the Under-22 Asian Youth Championship held in Bangkok, Thailand, winning a silver medal in the 60 kg weight category. She also demonstrated her talent by winning a bronze medal in the 57 kg category at the Youth Asian Boxing Championship held in Astana, Kazakhstan, in 2023-24. In addition, Priya has brought laurels to the country by winning gold medals at the Asian Championship 2025-26, the Spain Boxam Cup and the Grand Prix European Tournament.
At the Asian Boxing Championship 2026 held in Ulaanbaatar, Mongolia, Priya won the gold medal by defeating North Korea’s Won Un-gyong 3-0 in the final, and sealed her place in the Indian contingent for the Asian Games and the Commonwealth Games.
Priya’s achievements at the national level are no less significant. At the 6th Youth Women’s National Boxing Championship 2023 held in Bhopal, Priya won the gold medal in the 57 kg category along with the title of Best Boxer. In addition, she claimed a silver medal at the 8th Elite Women’s National Boxing Championship in 2024-25 in Greater Noida, India, and a gold medal at the 9th Elite Women’s National Boxing Championship 2025-26.
In weightlifting, Valluri Ajay Babu delivered an extraordinary performance to secure the silver medal by lifting a total of 330 kg. He lifted 149 kg in the snatch and 181 kg in the clean and jerk. This achievement has reinforced his consistently outstanding performance in Indian weightlifting at the international level. Ajay Babu missed out on the gold medal in the final by just one kilogram.
Valluri Ajay Babu has performed brilliantly at the international level. He won a gold medal at the Junior Commonwealth Weightlifting Championship held in Noida, Uttar Pradesh, in July 2023, and thereafter displayed his talent by winning a gold medal at the Senior Commonwealth Weightlifting Championship held in Suva, Fiji, in 2024 as well.
Valluri Ajay Babu’s performance at the national level has been outstanding as well. He proved his mettle by winning gold medals at the Youth, Junior and Senior National Weightlifting Championships in Patiala in 2021. In addition, he won gold medals at the Youth National Weightlifting Championship and the Junior National Weightlifting Championship in Bhubaneswar (Odisha) in 2022, and at the Khelo India Youth Games in Panchkula. He also won a silver medal at the Senior National Weightlifting Championship held in Tamil Nadu in December 2022-2023, and a gold medal at the Khelo India Youth Games in February 2023. In 2023-24 he won a bronze medal at the Youth, Junior and Senior National Weightlifting Championships held in Arunachal Pradesh, and a bronze medal at the Youth, Junior and Senior National Weightlifting Championship 2024 in Himachal Pradesh. With his brilliant performances, he displayed his talent by winning a silver medal at the 37th National Games 2023 held in Goa and a gold medal at the 38th National Games 2025 held in Uttarakhand.
Chandigarh University student Valluri Ajay Babu belongs to a weightlifting family from a small village in Andhra Pradesh. His father is a former international weightlifter who won a bronze medal in the 56 kg weight category at the Commonwealth Games held in Delhi in 2010. Carrying that legacy forward, Ajay Babu has secured a silver medal at the Commonwealth Games 2026, sixteen years later. His brother is also a weightlifter.
Congratulating Priya Ghanghas and Valluri Ajay Babu, Chandigarh University Senior Managing Director Dipinder Singh Sandhu said, “They reflect the sports culture of Chandigarh University, where students are provided world-class facilities, training, opportunities and encouragement to excel in sports along with education. The success of both athletes has once again proved that Chandigarh University’s players are writing India’s story of victory not only on the national stage but on the international stage as well. Their success is an inspiration for the youth. Along with world-class facilities, the University also produces winners at the national and international levels. The University has allocated an annual budget of Rs 6.5 crore for sports. The University provides athletes and players with a special diet, sports kit, travel, coaching, hostel and all other facilities free of cost, so that they can focus on their performance without any constraints. At present, 1,183 athletes, including 562 female students, are availing sports scholarships. Chandigarh University will continue to encourage sporting talent in the future as well.”
Chandigarh University
Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.
Website address: https://www.cuchd.in/
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10, Aug 2026
Audible Announces New Slate of Immersive Audio Thrillers from James Patterson and Michael Connelly
10, Aug 2026
Dubai real estate market diverges as industrial and retail surge
Dubai, 10 August 2026 – Dubai’s real estate market continues to show signs of its maturity, with performance increasingly driven by asset type, location and underlying demand rather than broad market-wide growth, according to new research from Chestertons Global.
The firm’s Q2 2026 Dubai Real Estate Market Report found that while industrial and retail sectors continued to deliver strong annual growth, office and residential markets entered a more measured period following several years of rapid expansion. The findings suggest the market is creating increasingly unique opportunities across different sectors, even as it demonstrates renewed resilience following a period of regional uncertainty earlier in the year.
Industrial remained Dubai’s standout performer during the quarter, with sector rents rising 23.3% year on year across key logistics corridors as demand for Grade A warehouse space continued to outstrip supply. Growth was driven by logistics operators,
Retail also continued to perform strongly, with average rents reaching AED 273 per sq ft, up 18.3% year on year. Prime destination malls remained close to full occupancy, supported by population growth, tourism and sustained demand for high-quality retail space.
Meanwhile, Dubai’s office market entered a more balanced phase. Leasing activity remained resilient, with almost 39,000 rental contracts registered during Q2, up 15.2% year on year, although occupiers increasingly favoured smaller, more flexible workspaces while regional geopolitical uncertainty meant larger corporate expansion decisions were delayed. Limited availability of Grade A offices continued to support rental values across prime locations, and government measures, including an AED 1 billion package to support corporate liquidity, helped support the sector during the quarter.
Residential activity has cooled as buyers took longer to make purchasing decisions and new supply entered the market. However, villas and townhouses continued to outperform apartments, with limited low-density supply supporting further price appreciation.
John Stevens, Chief Executive Officer of Chestertons MENA, said:
“Dubai’s property market continues to demonstrate resilience, but we’re now seeing a nuanced shift towards a more mature market where performance varies significantly between sectors. Investors and occupiers are becoming increasingly focused on fundamentals such as asset quality, location and long-term demand drivers, creating more selective opportunities across the market.”
He added:
“For international investors, Dubai remains one of the world’s most compelling real estate markets. However, success will increasingly depend on identifying areas where structural demand and constrained supply continue to support long-term growth, rather than relying on market-wide appreciation.”
Looking ahead, Chestertons Global expects Dubai’s property market to remain supported by continued population growth, international investment, tourism and economic diversification. However, the report concludes that future performance will increasingly depend on the ability of individual assets to meet evolving occupier and investor requirements, reinforcing the importance of careful asset selection as the market enters its next phase.
The Chestertons Global Q2 2026 Dubai Real Estate Market Report provides analysis of residential, office, retail and industrial property trends across Dubai.
10, Aug 2026
Monika Alcobev appointed as Rémy Cointreau’s exclusive partner across India
MUMBAI, India, Aug. 10, 2026 /PRNewswire/ — As part of Rémy Cointreau’s ambitions to develop a long term, sustainable and high growth business in India, Rémy Cointreau, has appointed Monika Alcobev Limited as its exclusive distribution & marketing partner for all of India.
This transition marks a significant vote of confidence in Monika Alcobev’s PAN-India capabilities, premium positioning, and strong compliance-led execution. With this partnership, Rémy Cointreau aims to deepen its India strategy through a single-window platform backed by scale, efficiency, and market intelligence.
“We are thrilled to take forward Rémy Cointreau’s exceptional spirits portfolio across India,” said Kunal Patel, Managing Director of Monika Alcobev Limited. “This consolidation reflects a shared commitment to long-term market development, premium consumer experiences, and the kind of transparency global brands increasingly expect from their India operations.”
With renowned brands such as Rémy Martin, Louis XIII, The Botanist, Cointreau, St-Rémy, Bruichladdich, Metaxa and Mount Gay under its banner, the Group brings a legacy of craftsmanship that aligns closely with Monika Alcobev Limited’s values and distribution ethos.
Hemang Chandat, Chief Commercial Officer, Monika Alcobev Limited, added: “Our teams are deeply engaged across India, from Delhi, Haryana and Jaipur to Mumbai, Goa and Bangalore, and beyond. This partnership allows us to streamline operations, offer stronger brand visibility, and drive deeper relationships with customers who already love Rémy Cointreau’s iconic brands.”
Rémy Cointreau joins a growing list of prestigious international brands that have chosen Monika Alcobev as their preferred India partner, strengthening the company’s standing as the country’s most trusted import, distribution and marketing platform in the premium alcobev segment.
“Consolidating our presence across India with a single unified mandate and partner will undeniably strengthen our position on this market.
We are confident Monika Alcobev Limited teams will build and drive an ambitious and sustainable growth plan for our brands as well as creating memorable and culturally relevant experiences for the Indian consumer. We look forward to working with our partners Monika Alcobev to accelerate the growth and sustainable value we believe exists in the Indian market,” comments Ian McLernon, Group Chief Markets Officer of Rémy Cointreau.
The transition is currently underway and will be completed seamlessly across retail, and HORECA over the coming months.
About Rémy Cointreau
All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group’s portfolio includes 14 singular brands, such as the Rémy Martin and LOUIS XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its 1,783 employees and on its distribution, subsidiaries established in the Group’s strategic markets. Rémy Cointreau is listed on Euronext Paris.
About Monika Alcobev Limited
Founded in 2015 by Bhimji Nanji Patel and led by Managing Director Kunal Patel, Monika Alcobev Limited is India’s leading importer and distributor of premium alcohol brands. In July 2025, the company launched its ₹165.63 crore SME IPO on the BSE, marking a milestone in its growth journey. With a portfolio of over 100 world-class labels, Monika Alcobev provides end-to-end solutions covering importing, logistics, distribution, and marketing across HORECA, retail, and duty-free channels. The company has established itself as a trusted partner for luxury alco-bev brands looking to scale in India.
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10, Aug 2026
The Wealth Company Launches Gift City Fund to Give NRIs a Single, Dollar-Denominated Route into India’s Mutual Fund Market
Mumbai, Aug10: For millions of Indians living outside the country, investing in India’s growth has often meant navigating two worlds, the opportunity of India’s capital markets and the complexity of accessing them from overseas. The Wealth Company is seeking to simplify that equation. The Company has launched The Wealth Company IFSC FoF, an open-ended Category III Alternative Investment Fund based in GIFT City IFSC, designed to give eligible non-resident investors, including NRIs, a single, US-dollar–denominated route to a professionally managed portfolio of Indian mutual funds and ETFs. With this, The Wealth Company has forayed into the Category III AIF segment, marking another significant step in expanding its alternative investment platform and offering sophisticated investors access to differentiated, strategy driven investment opportunities.
The Fund is managed by Wealth Company Asset Management Private Limited , a Fund Management Entity registered with IFSCA.
India’s mutual fund story is becoming too large to ignore
The timing reflects the scale of India’s investment transformation. Indian mutual fund assets stood at ₹82.22 lakh crore as of June 30, 2026, up from ₹13.81 lakh crore a decade earlier, almost a six-fold increase. SIP contributions reached ₹31,781 crore in June 2026, according to AMFI. While India’s domestic investor base has expanded rapidly, global Indians have not always had an equally straightforward way to participate in that growth.
Overall, India now has more than 50 AMCs and over 1,700 active mutual fund schemes, creating a market where the challenge is no longer simply access. It is selection deciding which managers, categories and strategies deserve capital, and when that allocation needs to change. That is the gap The Wealth Company IFSC FoF is designed to address.
One India allocation instead of navigating the entire market
Rather than investing directly into individual Indian mutual fund schemes, the FoF will select and allocate across the wider mutual fund and ETF universe. Its investment process evaluates schemes using factors including historical performance, risk metrics, quantitative parameters, relative performance and forward-looking market positioning. The portfolio can span diversified equity-oriented funds, sectoral strategies, fixed income funds, hybrid funds, gold and silver ETFs, index strategies and SIFs, subject to the fund’s mandate.
The objective is straightforward: give an overseas investor one professionally managed India allocation rather than asking them to become an expert in India’s entire mutual fund industry.
“India’s growth has stopped being a story that Indians only watch from abroad. For many, it is becoming an opportunity they want to participate in,” said Ms. Madhu Lunawat, Founder, The Wealth Company. “GIFT City gives us the ability to build that bridge. We want an Indian living overseas to think about India as part of their long-term wealth portfolio and not as a market that is difficult to access from where they live.”
Why this matters to an NRI
For an NRI in Dubai, Singapore, London, Australia or any other global financial centre, the attraction is not simply the familiarity of investing in India. It is the ability to participate in India’s growth through a structure designed specifically for non-resident investors.
The Fund is denominated in US dollars and is structured through GIFT City IFSC. Eligible investors do not separately need to undertake the SEBI FPI registration process merely to access the underlying Indian mutual fund portfolio through the FoF structure. The Fund’s materials also state that an NRI investor may not have an Indian income-tax return filing obligation where the relevant conditions are met, including applicable tax deduction and the absence of other circumstances requiring a return.
The structure is intended for eligible global family offices, institutional allocators, accredited investors and HNI/UHNI non-residents. It does not accept resident Indians and currently excludes investors resident in the USA and Canada, as well as investors from FATF-restricted jurisdictions. For the wider NRI community, the proposition is therefore less about creating another investment product and more about creating a dedicated bridge between global Indian wealth and India’s domestic capital markets.
The tax question: potentially significant, but not one-size-fits-all
Tax is another consideration for overseas investors. The Fund is structured as an IFSC-based Category III AIF and is expected to qualify as a “Specified Fund” under the applicable provisions of the Income-tax Act, 2025, subject to satisfaction of the prescribed conditions.
Under Section 11 read with Schedule VI of the Income-tax Act, 2025, specified income of a qualifying fund attributable to eligible non-resident unit holders may be exempt from Indian income tax, subject to the applicable conditions and prescribed computation mechanism. The tax framework provides for specified treatment of income earned by the Fund from its underlying investments, including capital gains on transfer of specified securities and prescribed rates of tax for certain dividend and interest income.
For eligible non-resident investors, distributions by the Fund and capital gains arising on transfer or redemption of Fund units may be exempt from Indian income tax, subject to the applicable statutory conditions. Further, eligible non-resident investors who satisfy the prescribed conditions may also benefit from relaxations relating to PAN and filing of an Indian income-tax return, including where they have no other income chargeable to tax in India and the prescribed investor information and tax-deduction requirements are complied with.
The availability of these benefits is subject to the Fund satisfying the conditions applicable to a specified fund and to the individual circumstances of each investor. In particular, an investor’s tax position in their country of residence may differ materially from the Indian tax treatment. Investors should therefore obtain independent tax advice regarding the tax implications of their investment in the Fund, including the applicability of local tax laws and any relevant Double Taxation Avoidance Agreement.
The Fund may be of particular interest to investors based in jurisdictions such as the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Uganda and Mauritius; however, the tax treatment in each investor’s home jurisdiction is subject to the investor’s individual circumstances and should be evaluated with the investor’s own tax advisor.
GIFT City is becoming part of India’s global capital strategy
The fund comes at a time when GIFT City is developing into an increasingly important international financial centre. Gift city has more than 200 Fund Management Entities and over 350 schemes, with AIF commitments of approximately US$39.09 billion as of March 2026, representing ~148% year-on-year growth. For India, the significance goes beyond creating another financial-services hub.
It creates the possibility of bringing global capital into Indian investment opportunities through structures designed in India, regulated in India and denominated in global currencies.
“The problem for a non-resident investor isn’t a lack of conviction about India. It is the distance between conviction and execution,” said Mr.Unmesh Kulkarni, Managing Director – Group Product Head, The Wealth Company. “There are more than 1,600 schemes to choose from, different market cycles and very different investment styles. Our job is to do that selection and rebalancing within a structure that makes sense for an overseas investor.”
From the Indian diaspora to global capital
The opportunity extends beyond NRIs. The Fund is also designed for global family offices, institutional investors, accredited investors and wealth platforms seeking professionally managed exposure to Indian mutual funds and ETFs. The underlying idea is that India’s next phase of financial-market growth need not be funded only by capital sitting within India.
India’s mutual fund industry has already demonstrated the depth of domestic participation. The next question is whether Indian-origin capital and global capital can participate alongside it through structures built for the way global investors actually operate. For The Wealth Company, GIFT City is intended to be that bridge.
“India has spent the last decade building the financial infrastructure for its own savers. The next chapter is about making that infrastructure work for Indians wherever they live,” Lunawat said.
10, Aug 2026
Greenply launches infant child feeding & care booth to bring comfort, convenience and dignity to mothers and infants
Mumbai, Aug 10: Greenply Industries Limited, one of India’s leading interior infrastructure companies, has launched an ‘Infant Child Feeding & Care Booth’ at Lower Oshiwara Metro Station, Mumbai, to provide mothers and young children with a safe, private and hygienic space while travelling. Introduced during World Breastfeeding Week 2026 (August 1–7), the initiative reflects the company’s commitment to creating infrastructure that addresses everyday needs through thoughtful design and innovation.
Designed to support nursing mothers and families on the move, the booth offers a comfortable space for breastfeeding, comforting infants and taking a short break during transit. The initiative seeks to make public spaces more inclusive by providing an environment where mothers can care for their children with dignity and privacy.
Inspired by the concepts of ‘Nesting’ and ‘Resting’, the booth has been designed as a calm and welcoming space for mothers and infants. Constructed using Greenply Gold Plywood, it incorporates Zero Emission plywood to support healthier indoor air quality, along with fire-safe and ultimate waterproof properties suited for high-footfall public environments. The booth is also equipped with Sound Lock acoustic panels to minimise external noise and create a quieter, more comfortable environment for families.
To ensure a safe and reassuring experience, dedicated personnel are stationed outside the booth to assist users whenever required.
Speaking on the initiative, Mr. Sanidhya Mittal, Joint Managing Director, Greenply Industries Limited, said: “For many mothers, travelling with an infant often means having to choose between their child’s immediate needs and the lack of appropriate facilities in public spaces. At Greenply, Care is an integral part of who we are, and we believe that care should extend beyond the products we create to the spaces and communities we serve. We wanted to address this everyday challenge by creating a space that offers privacy, comfort, convenience and a safe environment for both mothers and children. Made using E-0 plywood, the booth ensures a safer environment for mothers and children. The Infant Child Feeding & Care Booth reflects our belief that good infrastructure should not only be durable and innovative, but also empathetic, responsible and safe. Through this initiative, we hope to make public spaces more inclusive and encourage more spaces across the country to become truly family-friendly.”
Despite growing awareness around breastfeeding, access to dedicated nursing and childcare facilities in public spaces remains limited. Through this initiative, Greenply aims to encourage the development of more breastfeeding-friendly infrastructure across transport hubs and other public spaces, supporting mothers and young children with greater comfort, convenience and care.
The Infant Child Feeding & Care Booth reflects Greenply’s continued focus on combining design, technology and responsible innovation to create spaces that positively impact communities.
10, Aug 2026
MSME Reform Bill Seen Boosting Flexibility and Growth for Small Businesses
New Delhi, Aug 10: The proposed MSME Amendment Bill is being viewed by industry as an important step towards creating a more flexible regulatory environment for micro, small and medium enterprises, helping businesses expand while managing compliance more easily.
Industry representatives said the proposed changes could give growing enterprises greater room to scale their operations, invest in technology and create jobs without facing unnecessary regulatory hurdles as their businesses become larger.
For millions of small businesses across India, growth often comes with additional compliance requirements and administrative responsibilities. A more flexible framework could make that transition smoother and allow entrepreneurs to focus more on building their businesses.
The MSME sector remains an important part of India’s economic landscape, supporting employment, manufacturing, services and entrepreneurship across urban and rural areas. Improving the ease of doing business for these enterprises can have a wider impact on local economies and job creation.
Industry sees greater regulatory flexibility as particularly useful for businesses that are moving from the early stages of operation towards expansion. Predictable rules can help entrepreneurs make longer-term decisions about hiring, investment, production capacity and technology.
The proposed changes could also encourage more businesses to formalise their operations and adopt digital systems. Easier compliance can reduce the time and resources spent on administrative work, allowing business owners to concentrate on customers, innovation and market expansion.
For startups and rapidly growing enterprises, the ability to scale without abrupt regulatory pressures could be especially valuable. Businesses that cross from one growth stage to another need a framework that recognises their changing size and requirements.
The reforms may also strengthen the ability of Indian MSMEs to compete in wider markets. Businesses with simpler compliance processes can potentially respond more quickly to new opportunities, build stronger supply chains and invest in improving productivity.
However, industry experts have emphasised that the effectiveness of the reform will ultimately depend on how the provisions are implemented and understood at the ground level.
For entrepreneurs, the broader objective is clear: creating a business environment where companies can grow without compliance becoming an unnecessary barrier.
The proposed MSME Amendment Bill could therefore provide a stronger foundation for scalability, investment, innovation and job creation, while supporting India’s wider goal of building a more competitive and resilient small-business ecosystem.
10, Aug 2026
I-T Department Moves to Simplify Lower and Nil TDS Certificate Process
New Delhi, Aug 10: The Income Tax Department is working on rules to introduce an electronic process for lower or nil tax deducted at source (TDS) certificates, a move that could make tax compliance simpler and more convenient for eligible taxpayers.
The proposed system is aimed at reducing paperwork and streamlining the process through digital applications and verification. Taxpayers who expect their final tax liability to be lower than the amount normally deducted at source could benefit from the new mechanism.
TDS is collected in advance on certain payments and later adjusted against the taxpayer’s final tax liability. In cases where the deduction is higher than the actual tax payable, taxpayers may have to wait for a refund to recover the excess amount.
A lower or nil TDS certificate can help avoid such situations by allowing eligible taxpayers to have tax deducted at a reduced rate or not deducted at all, depending on their circumstances.
The planned electronic process could make it easier for individuals, professionals and businesses to apply for certificates without relying heavily on physical documents or repeated visits to tax offices.
It could also improve processing efficiency by allowing tax authorities to use information already available through digital tax systems. This may reduce manual verification and help applications move faster.
For taxpayers, the biggest benefit could be better cash-flow management. Money that might otherwise be deducted as TDS and recovered later through a refund could remain available for legitimate business or personal needs, where the lower deduction is justified.
The initiative is part of the government’s broader effort to modernise tax administration and make compliance more transparent, accessible and technology-driven.
Detailed rules will determine how the electronic process works, including eligibility requirements and application procedures.
The proposed digital system is expected to make the lower and nil TDS certificate process faster, simpler and more taxpayer-friendly, while reducing unnecessary paperwork and improving the overall compliance experience.
