Daily Indian Funding Roundup & Key News - 14 August 2026: L&T Secures Nvidia AI Factory Order, Zetwerk Files INR 2,600 Crore IPO Papers, LEAP India Lists At Premium
No funding rounds closed on 14 August 2026. Instead, the day's biggest development came from public markets and infrastructure, with L&T securing a mega order worth up to INR 15,000 crore to build an AI data centre for US cloud platform Together AI, using Nvidia chips.
Away from that, Zetwerk filed papers for a INR 2,600 crore IPO, LEAP India shares listed at a premium on their stock market debut, and Tiger Global exited its entire stake in OTT platform The Viral Fever.
Key Business News for 14 August 2026
L&T Secures Mega Order To Build AI Factory For Nvidia
L&T secured a mega order worth up to INR 15,000 crore from Together AI to build an AI data centre in India. The order was secured by its AI infrastructure subsidiary LTN Compute, under L&T's Vyoma.AI, and is valued between INR 10,000 crore and INR 15,000 crore. The AI factory will be built at L&T's Chennai data centre campus.
The deployment will use 10,000 Nvidia B300 GPUs and support Together AI's AI-native cloud platform for large-scale training, fine-tuning and inference. The order marks L&T's entry into the AI factory business and is part of its wider Gigawatt AI Infrastructure Mission to build sovereign AI compute capacity in India.
Zetwerk Files UDRHP For INR 2,600 Crore IPO
Zetwerk filed its updated draft red herring prospectus with SEBI for an IPO comprising a fresh issue of INR 2,600 crore and an offer for sale of up to 9.6 crore equity shares. Early backers including Peak XV Partners, Lightspeed and Kae Capital will sell part of their stake through the offer.
Zetwerk plans to use nearly 69% of its fresh issue, about INR 1,800 crore, to repay borrowings. Founded in 2018 by Amrit Acharya and Srinath Ramakkrushnan, the Bengaluru-based manufacturing platform reported revenue of INR 15,913 crore in FY26, up more than 40%, while its net loss widened to INR 1,606 crore.
LEAP India Shares List At 4.4% Premium
LEAP India shares debuted on the BSE and NSE at a 4.4% premium to their INR 159 issue price, opening at INR 166. The listing gave the logistics tech company a market capitalisation of about INR 7,011 crore. Its INR 2,480 crore IPO was oversubscribed 8.38 times.
Founded in 2013, LEAP India offers supply chain solutions spanning equipment pooling, returnable packaging and inventory management, serving more than 1,000 customers including Coca-Cola and Marico. The company's FY26 net profit rose 66% to INR 62.3 crore, while operating revenue grew 56.4% to INR 729.5 crore.
Tiger Global Offloads Entire Stake In TVF
Tiger Global sold its entire stake in OTT platform The Viral Fever in a deal valuing the company at $22 million. The stake, reported to be up to 40%, was sold to Lighthouse India Fund-I, Frontier Globecap Ventures and LC Nueva Advisors. The deal marks a 73% decline from TVF's $82 million valuation in 2019.
Tiger Global first backed TVF in 2016 with a $10 million investment for a 25% stake. The exit comes amid a leadership reshuffle at TVF and a broader slowdown in India's OTT industry, where the number of streaming originals fell for two straight years and content budgets have been cut by 20% to 50%.
Muskaan Kapoor
