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The Chennai-based VC firm exercised its full 50-crore greenshoe option and plans to write $1-2 million cheques for early-stage startups as investor interest in deeptech surges.
The block deal comes as investors step up secondary-market exits, while UltraTech enters FY27 with strong demand and double-digit volume growth.
The potential layoffs come after Oracle carried out workforce reductions earlier this year. The companys headcount fell by 21,000 employees, or 13%, during the fiscal year that ended May 31, 2026, including through layoffs, according to a regulatory filing.
HCLTech said it found no evidence of a breach of its systems or client environments after a hacker group claimed potential exposure of limited employee data. The company said the data may be several years old and that a further investigation is underway.
L&T Innovation Fund's interest in Indian deeptech comes as investor appetite for Indian deeptech has strengthened amid government efforts to promote indigenous technologies