India Corporate Dispatch: High-Stakes Bet on Longevity & Credit Contagion

• Editor
• March 2, 2026
• Business, Companies & Industry, Development, Global Business
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March 2, 2026– The Indian business landscape is grappling with a stark contrast: a visionary pivot into neuroscience by one of the country’s most celebrated founders, and a series of integrity-based crises affecting both edtech unicorns and financial institutions.

Segment 1: Deepinder Goyal’s “Temple” — The Quest for Longevity

In his most radical move since co-founding Zomato, Deepinder Goyal has officially stepped into the neurotech arena with his new startup, Temple.

• The Raise: Temple closed a $54 million seed round at a post-money valuation of $190 million. The round was uniquely personal, backed entirely by “founder friends” and early Zomato investors, including the Kamath brothers (Zerodha) and Kunal Shah (CRED).
• The Device: A non-invasive wearable worn on the side of the head that monitors cerebral blood flow. It stems from Goyal’s “Gravity Ageing Hypothesis”—the theory that gravity reduces brain circulation over time, accelerating aging.
• The “Bio-Hiring” Controversy: Goyal sparked debate by requiring applicants to have a body fat percentage below 16% (men) or 26% (women), or commit to reaching those levels within three months, stating the team must embody the elite performance standards they are building for.

Segment 2: Unacademy — The 93% Valuation Vaporization

Once the poster child of the edtech boom, Unacademy is now navigating a painful “down-round” reality.

• The Buyback: CEO Gaurav Munjal announced a ₹50 crore ($6 million) ESOP buyback to provide liquidity to employees.
• The Numbers: The buyback valuation is pegged at just $230 million—a staggering 93% decline from its peak valuation of $3.4 billion in 2021.
• The Context: This follows failed acquisition talks with UpGrad and a series of strategic pivots from company-owned centers to a franchise-led model to preserve dwindling cash reserves.

Segment 3: Adani Group — The Norway Wealth Fund Exit

Fresh headwinds have hit the Adani Group as the world’s largest sovereign wealth fund takes a hard stance on ethical compliance.

• The Exclusion: The $2.2 trillion Norway Wealth Fund (Norges Bank) has officially removed Adani Green Energy Ltd (AGEL) from its portfolio.
• The “Why”: The fund cited “unacceptable risk” and concerns over gross corruption or serious financial crime, likely linked to the ongoing U.S. DOJ and SEC investigations into bribery allegations.
• Market Impact: While Norges Bank offloaded its roughly $44 million stake, domestic Indian mutual funds have increased their exposure to AGEL by nearly 10x over the past year, cushioning the immediate price impact.

Segment 4: Fino Bank — The CEO Arrest Shock

A major compliance crisis has emerged at Fino Payments Bank, one of the few profitable players in the payments space.

• The Arrest: The Directorate General of GST Intelligence (DGGI) arrested MD & CEO Rishi Gupta on February 27, 2026.
• The Charges: The arrest falls under the GST Act, involving allegations of fake invoicing and the use of shell companies to funnel funds related to illegal online betting.
• Corporate Response: The bank’s board has appointed CFO Ketan Merchant as interim head. The stock plummeted 7.5% following the news, and the RBI is reportedly reviewing the bank’s “in-principle” approval to transition into a Small Finance Bank (SFB).