Here are the India Business News Headlines 4th January 2018:
- Sebi will introduce an early-warning system to caution people about the risks of investing in stocks of overvalued, having unsustainable business models and companies that may go bankrupt. The proposed system would rate them on a numeric scale or a colour-coded system allowing investors to identify risks associated with the company’s stocks.
- Flipkart has boosted investments in its logistics arm eKart. Instakart, the eKart parent company, has received four separate tranches of investment from Flipkart, amounting to approx. Rs2,600 crore since September 2017.
- Kedaara Capital is in talks to acquire a controlling stake in Indian School Finance Co., a Hyderabad-based non-banking financial company that lends to companies in the education sector. The deal is said to be valued around $50 million.
- Ess Kay Fincorp, a Jaipur-based vehicle and SME finance company, has raised $32 million from Norwest, Baring and Evolvence. The funds will be used to invest in building scale in existing locations and expanding into new geographies.
- Aurionpro has entered into an agreement to sell its ID and access management business to KPMG for Rs217 crore. This acquisition will help KPMG enhance its existing capabilities as a leader in information security consulting services.
- Fosun, the Shanghai based conglomerate, is in advance talks to invest Rs.800 Crore in Nitesh Estates to pick up around 50% stake. The founder Nitesh Shetty shall retain 25% and continue to run the operational management. His investment in Ritz Carlton hotel will also not be a part of the deal as Nitesh wants to keep it as part of his personal investment.
- RBI has ordered banks not to initiate bankruptcy proceedings against Jaiprakash Associates anticipating legal complications after Supreme Court has barred its promoters from selling or transferring assets. Having a debt of Rs.25,000 Crores, Jaiprakash Associates is a part of Jaypee Group.
- After SoftBank and Flipkart, now South African Internet group, Naspers, has started discussions on investing in Swiggy. With a history of co-investing, Naspers may also partner with Tencent as a new investor in Swiggy.