Elevation offloads Paytm stake; Souring Bira bet

Elevation Capital and Paytm - Elevation Capital sold 2% of its stake in Paytm for ₹1,556 crore, marking its first sale since the fintech's 2021 listing [5][22] - The investment had previously dropped to ₹3,800 crore in February 2024 but has since recovered to a value of ₹11,150 crore [22] - Elevation has realized approximately ₹7,300 crore from Paytm shares, achieving a total paper gain close to 35x on its investment held since 2007 [3][24] Kirin Holdings and Bira 91 - Kirin Holdings is seeking to divest from B9 Beverages, the maker of Bira 91, due to financial strains and has asked founder Ankur Jain to find a new strategic investor [9][24] - Kirin, which holds a 20% stake in B9, is also looking to offload debt extended to the company [9] - The rebranding efforts for Bira 91 have led to sales disruptions, causing inventory write-offs and financial difficulties [24] Groww's Stock Performance - Groww's stock experienced a significant drop after a near 90% increase from its listing price, hitting its lower circuit limit [7][24] - The stock climbed to ₹193.80 before profit-taking triggered a rapid decline, closing just below ₹170 [24] Lightspeed Venture Partners on AI - Lightspeed's Ravi Mhatre discussed the current AI wave, emphasizing that only businesses solving real problems will endure [12][24] - Mhatre noted that India is evolving from a large user market to a hub for AI-assisted labor, automating repetitive tasks while humans manage workflows [12][24] - The firm acknowledged the existence of a valuation bubble in the AI sector but maintained that the transformation is significant and real [12][24] Raise Financial and Stratzy Acquisition - Raise Financial acquired algo trading platform Stratzy in a cash-and-stock deal valued at $4-4.5 million [20][24] - Stratzy will operate as an independent entity under Raise, enhancing Dhan's technology stack for automated investing [20][24] Meta's Legal Victory - A US judge ruled that Meta's acquisitions of Instagram and WhatsApp did not violate antitrust laws, allowing the company to maintain its current structure [22][24] - The ruling has restored confidence in Meta's long-term strategy and its ability to compete in the social networking space [22][24]