India business news headlines 28th February 2019

India business news headlines 28th February 2019

Wipro has entered into a definitive agreement with Illinois-based Alight to sell its Workday and Cornerstone On Demand business for US$ 110 million.

Convergent Finance is leading a $22 million funding round in Hindustan Foods to pick up a stake between 20 to 26 percent.

India business news headlines 28th February 2019

RIL is in advance discussions with Grab to buy a majority stake. Grab has so far raised over Rs.30 Crores.

As per Grant Thornton’s Jan PE Dealtracker report, PE investments in India witnessed a growth of 36%. The total investments received in Jan 2019 stood at US$ 1325 million.

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The board of Indian Overseas Bank has approved a fund infusion from the govt by way of a preferential issue.

Accel India promoted Barath Shankar Subramanian, Abhinav Chaturvedi and Prayank Swaroop from being principals to Partners. Accel India has invested in firms like Flipkart, Freshworks and Swiggy.

Financial creditors of RCom have opposed the firm’s plea to pay Ericsson’s dues from IT refunds. They shall formally submit their reply to NCLAT by 8th March.

KKR is seeking to lend in partnership with Indian banks and buy more local NBFCs.

Jet Airways lenders have grounded seven more planes as the airlines defaulted in paying the rental fees. About 18 aircraft have reportedly been grounded by lessors so far.

In view of the current Indo-Pak situation, pilots of Jet Airways have called off protest for the time being.

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Vistara airlines will not charge any cancellation fee if a ticket has been booked to or from Amritsar, Jammu, Srinagar or Leh for travel up to March 31. Full refund will be provided on no-show also.

International flight ticket prices may increase as some airlines shall have to re-route flights to avoid Pakistan airspace.

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