India business news headlines 11th April 2019
JSW Steel has raised US$500 million through an international bond issue. The five-year dollar money sale saw high demand from investors across Europe and Asia.
Wipro Lighting has formed a strategic partnership with Netherlands-based Mapiq to jointly create smart workplaces in India. Mapiq creates a unified, cloud-based platform to help optimise workspaces.
Kotak Mahindra AMC and HDFC AMC are among the mutual funds forced to withhold or roll over FMPs with exposure to Subhash Chandra led Essel Group. Mutual funds have Rs.7,000 crore exposure to Essel Group.
GoAir is struggling to find a stable management team and is operating with only 76-77% of its fleet. The latest CEO resigned in Feb, after just eight months of joining.
CleverTap, a mobile app analytics startup, has raised $26 million in a funding round led by Sequoia Capital and Tiger Global.
– A European cargo services provider has seized one of its Boeing planes at Amsterdam over non-payment of dues.
– DGCA has de-registered seven Boeing aircraft of Jet Airways. Now the lessors can take the places out of India and lease them to any other airlines.
– SBI Capital has extended the deadline for investors to bid for a controlling stake of up to 75% in Jet Airways till Friday.
TPG and Piramal Enterprises have started the process to sell their over $1 billion shares in Shriram Capital.
Irdai has asked insurance companies to share the status of claim settlement to policyholders from July 1.
Sebi has revised charges related to basic services Demat account. The revised charges will come into effect from June 1.
To curb piracy, Alibaba has come up with ‘video fingerprints’ technology that gives each original video a unique online identity. The fingerprints can be used to identify the video even if it is trimmed or its images modified.