India business news headlines 4th February 2019 – As per media buyers estimates, UberEats, Swiggy and Zomato together are expected to spend around Rs.300 crores on advertising in 2019.
Blackstone Group which signed a definitive agreement to buy a controlling stake in Aadhar Housing Finance will infuse Rs.800 crores as additional equity. This will double the company’s net worth and reduce its debt-to-equity ratio by almost half.
RCom will propose a plan to sell its telecom infrastructure assets, airwaves and real estate to resolve its debt. Last week the firm had said that it will seek fast-track resolution through NCLT.
KKR and Co. will infuse ₹100 crores into its asset reconstruction company by 31st March. KKR invests in private high-yield debt in India.
Essel Group has entered into a formal agreement with its lenders under which it gets time till September to deleverage or pare its debt. These lenders have taken pledged shares of Zee Entertainment and Dish TV.
VC firm A91 Partners has invested around Rs.60-70 crores in make-up brand Sugar Cosmetics. This is the first investment of A91 Partners from its ₹2,000-crore fund.
To adhere to new FDI policy norms, Amazon removed Cloudtail and Appario in which it had interests. Though it has got new sellers on board, the delivery remains a concern, which is now taking 4-5 days compared to 1-2 days earlier.
Piyush Goyal is scheduled to address a post-budget meeting of central board of RBI on 9th Feb. The board meeting would also discuss the request of the government for an interim dividend for the current fiscal.
Sales at Paytm Mall have seen a slump after it slashed cashback by more than 80% across categories.
Ericsson is set to file a petition in Supreme Court pleading that all the personal assets of Anil Ambani be seized for breach of SC order to repay Ericsson.
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