Here are the India Business News Headlines 25th October 2017:
- Logistics investment and development firm LOGOS India has raised $400 million in equity capital from Ivanhoé Cambridge, a real estate subsidiary of Canada’s second largest pension fund, Caisse de Dépôt et Placement du Québec and Vancouver-based QuadReal Property Group to develop and own modern logistics facilities across cities. LOGOS India is a partnership between LOGOS Group and Assetz Property Group to set up a logistics and warehousing platform.
- Toppr, an online learning platform, has raised Rs.45 crore from its existing investors SAIF Partners, Helion Venture Partners and FIL Capital Management. Funds will be used to expand content and reach new geographies. Toppr has so far raised $12 million.
- Banks are fast emerging as accelerators for fintech start-ups, offering them opportunities to build proof of concept and scale in return for their products or technology solutions. SBI, Yes Bank, Kotak Mahindra, HDFC and ICICI Bank are supporting early stage fintech start-ups through mentoring and collaboration, by organizing hackathons and early investments.
- Energy firms are looking to expand into LPG business. Total India, Saudi Aramco, Reliance Industries, Indian Oil Corp., Bharat Petroleum and Hindustan Petroleum have firmed up plans to increase their market share in LPG segment, which is expecting investments of over Rs.30,000 crore in the next three years.
- Department of Industrial Policy and Promotion has approved Reebok India’s proposal to set up single brand retail stores in the country with an FDI inflow of Rs.20 Crores.
- Reliance Communications is shutting down its DTH business from next month after it failed to find any buyer for the business. DTH is a no-core area of Rel Comm which is working on debt restructuring.
- Varun Beverages, PepsiCo India’s largest bottling partner, has acquired two more production units in Odisha and MP. Varun Beverages now operates 22 bottling units for PepsiCo – 18 in India and four in Nepal, Sri Lanka, Morocco and Zambia. In 2016, Varun Beverages had posted Rs 3,852 crore as consolidated sales and Rs 160 crore net profit.
- American Tower Corpn., a Boston based company, is set to buy 20,000 stand alone towers of Vodafone and Idea at around $1billion in an all cash deal.
*News as published in Business Standard, Live Mint and Economic Times.