Here are the India Business News Headlines 12th October 2017:
- Ola has raised $1.1 billion in fresh funding from China’s Tencent Holdings and existing investor SoftBank Group of Japan. It’s in advanced talks to raise another $1 billion from existing and new investors.
- Bharti Airtel has tied up with Karbonn Mobile to introduce an affordable 4G smartphone, taking on Reliance Jio Infocomm Ltd’s 4G-enabled feature phone. The smartphone will be bundled with a monthly recharge pack and come with cashback benefits.
- L&T has entered into a definitive agreement with UK-based ESAB Holdings to sell subsidiary EWAC Alloys for Rs522 crore. The sale forms part of its strategy to exit non-core businesses.
- RBI has asked companies and banks to make know-your-customer-compliant PPIs (prepaid payment instruments) such as mobile wallets, interoperable within the next six months.
- Bengaluru-based school finance company Varthana has raised $3 million funding from Michael and Susan Dell Foundation to expand its school transformation program. The programme is aimed at improving quality of learning in private schools by extending credit facilities.
- To grab its share in the healthy snack market, Danone India is launching new products in its portfolio of nutrition and dairy products. It has launched Protinex Bytes, a protein multigrain biscuit meant for office-going consumers looking for a healthy snack on the go.
- S-Squared Capital, a US based investment management company, shall be investing Rs.20 Crore in Vatsalya Dental in tranches over the next two years. Funds will be used to launch 5 pediatric dentistry centres in different parts of South India.
- Apple has tied up with A R Rahman to set up two Mac Labs to teach how to create music using its proprietary software. Students will be taught to use Apple’s professional music creation App, Logic Pro X.
*News as published in Business Standard, Live Mint and Economic Times.