India business news headlines 22nd March 2019
Here’s a roundup of all the India business news headlines that are creating a buzz today :
- Facebook is in early-stage talks with several content startups in India for potential investments.
- The valuation of Byju’s has surged to over $5.4 billion after the fresh funding of $25 million from its existing investors.
- IndiGo reportedly continues to engage in recruiting expat as well as those who might be “out of job” pilots (of Jet Airways) in India. SpiceJet has also reportedly been interviewing Jet Airways pilots.
- KKR & Co Inc is reportedly raising its first Asia-focused real estate fund, targeting $1.5 billion as it looks to deepen its real estate portfolio in Asia.
- Jet Airways – SBI chairman Rajnish Kumar has said that lenders would make all efforts to keep the airlines from slipping into bankruptcy. The bank has asked Naresh Goyal, his wife Anita, and two nominee directors, Nasim Zaidi and Gaurang Shetty, to step down from the board and executive roles.
- Zomato has introduced tamper-proof packaging in 10 cities in India to add an extra layer of safety for food deliveries. The packaging will be 100% tamper proof and once the food is sealed, it can only be opened by cutting off the top-end strip.
- Bain Capital Ventures has invested an undisclosed amount in CoinDCX, a cryptocurrency trading platform. CoinDCX is an aggregator of cryptocurrency trading services.
More India business news headlines 22nd March 2019
- Hotstar has launched a subscription service, Hotstar VIP, at Rs.365 per year. The service will offer original and Star Network content including VIVO IPL, Cricket World Cup, etc.
- MakeMyTrip has filed a case against EaseMyTrip for trademark violation. It has also made Google a party to it. EaseMyTrip is reportedly bidding on “makemytrip” ad-word at Google to appear on top of the search results.
- Phonepe is planning to invest Rs.500 Crore to give it a marketing push. It has also reportedly spent Rs.100 Crores in sponsorship during the upcoming IPL.
- Bombay High Court has restrained Vijaypat Singhania from releasing his autobiography till 25th March and has asked the civil court to take up final hearing of the suit and other applications filed by Raymond Ltd on top priority.
- PNB Fraud case – Nirav Modi, arrested by the Scotland Yard, after being refused bail will be held at a prison in South-west London. He was remanded in custody until 29th March. The prison is considered one of the most overcrowded jails of England.