Page 16 - Tech Prowess News Today

As part of this agreement, HCLTech will also absorb around 1,500 employees and 700 contractors with experience of engineering services for telecom industry in countries including Spain, Italy, India, Japan, China, Americas and APAC region, HCLTech said in a regulatory filing on Thursday.

The government may rope in higher education institutes, key researchers for the model that can be customised for wide range of applications. It will be trained on publicly available data, digitised records of books, journals and research papers from public libraries.

This comment comes as IBM on Tuesday open-sourced a group of its most advanced and performant language and code Granite large language models.

Investors and startup founders are noticing a trend: D2C businesses across various sectors, like fashion, electronics, and food and beverage, are opening physical stores (going offline) even after their initial funding round.

US-registered Razorpay is quickening plans to shift its domicile to India. For the same, it has initiated a restructuring exercise through which half a dozen India units are being brought under one holding company.

GalaxEye CEO Suyash Singh said that the company tested its synthetic aperture radar (SAR) technology on a subscale high altitude pseudo-satellite (HAPS) developed by the National Aerospace Laboratories (NAL).

In the first four months of 2024, Paytms user base shrank by 24% to 80 million, while the count of its active devices dropped by about 1 million over February and March on account of attrition, according to its quarterly filings with the stock exchanges. User attrition happened as a result of regulatory action by the RBI, it said.

IPO, which includes a fresh share sale of Rs 128 crore and an offer-for-sale of up to 12.2 million shares, closes on May 24. Around 75% of the IPO is reserved for qualified institutional bidders (QIBs), 15% for non-institutional investors, and the remaining 10% for retail investors. The companys shares will list on the stock exchanges on May 30.

Paytms parent, One 97 Communications Ltd, is taking steps to “strengthen the governance framework across our group entities (especially regulated entities)” by appointing subject matter experts as advisors of independent directors, says founder Sharma in letter to shareholders. Going forward in the ongoing fiscal, Paytm also anticipates reduction in employee costs.

Hospitality company Oyo has withdrawn its draft IPO papers for the second time, which it had filed in March 2023.