Here are the India Business News Headlines 12th September 2017:
- Some of IndiGo promoters will sell their stake through IIP wherein there will also be a fresh issue of shares. Up to 33.6 million shares are proposed to be sold. At the end of June 2017, the promoters’ holding stood at 85.9 per cent .
- Bengaluru-based micro-finance company Janalakshmi Financial Services, has raised new equity capital of Rs 1,030 crores from TPG. The Company will morph into a small finance bank.
- Supreme Court has directed Sahara group’s Rs 37,000-crore luxury township Aamby Valley to be auctioned as scheduled and turned down requests to give a two-month-long extension for paying an installment, which was due last week.
- Accelerator Group, a US-based investment advisory firm, has announced a $25 million fund to support women-led enterprises in India. Achieving Women Entrepreneurs (AWE) Fund I will be managed by Seema Chaturvedi, MD Accelerator Group. It will invest only in Indian companies owned and led by women entrepreneurs in manufacturing, healthcare, education, food, agriculture, IT & ITES enabled sectors.
- Tonbo Imaging, a Palo Alto- and Bengaluru-based defence technologies start-up, has raised $17 million funding in series B round led by WRV Capital. Funds will be used for scaling up its technology and product offering. Tonbo supplies advanced night-vision imaging systems to global military forces and defence agencies.
- ITC group is now moving to accelerate growth in non-cigarette businesses. To move away from the cigarette maker tag, it has lined up Rs25,000 crore investment in 65 projects, including 20 factories for consumer packaged goods.
- IndusInd Bank is in advance talks to acquire Bharat Financial Inclusion, India’s second largest microfinance company. The acquisition will give IndusInd Bank access to rural businesses.
- For the upcoming festive season, Amazon India has created about 22,000 seasonal jobs at its delivery stations, customer service centres, sorting centres, fulfilment centres.
- Zilingo, an e-commerce platform for Fashion and Lifestyle products, catering to Southeast Asian markets, has raised around Rs.113Crore in funding. The platform has 1 million active users.