India business news headlines weekly roundup 08th t0 12th July

Please follow and like us:
Follow by Email

India business news headlines weekly roundup 08th t0 12th July:


  • GIC Holdings and Abu Dhabi Investment Authority would reportedly infuse an additional $329 million in Greenko Energy Holdings. This would be one of the largest fundraisers by an Indian clean energy producer.

india business news headlines weekly roundup 08th t0 12th july

India business news headlines weekly roundup 08th t0 12th July

  • Apple’s iPhone XR and XS being assembled in India may hit Indian stores by the next month.
  • Tiger Global is looking to exit from PolicyBazaar and is said to be in talks with Tencent and SoftBank to pick up its 21 percent stake at a valuation of $1.5 billion.
  • West Bengal Assembly passed a resolution against the Central Government’s decision to initiate privatization of CPSEs demanding it is revoked immediately.
  • Casio has reportedly filed a case against SnapDeal and its sellers for allegedly selling counterfeit versions of its products. Tis Hazari court has restrained Snapdeal and its sellers from displaying, advertising and selling goods with Casio trademark.
  • Rajesh Bharadwaj, the absconding director of Bike Bot, has been arrested. He had duped around 2.25 Lakh investors of Rs.1500 crores.
  • To monetize assets, IL&FS group has put 2,880-acres of non-contiguous land banks in Kutch, Gujarat for sale.
  • NCLAT has asked Vikram Bakshi to file an affidavit detailing the amount received from the sale of his shares in CPRL as part of his settlement with McDonald’s.
  • As per a KPMG report, 88 percent of Indian CEOs personally lead the tech strategy of their companies. Also, 66 percent of CEOs believe that there is still enough scope to improve their understanding of customers.

There’s more in India business news headlines weekly roundup 08th t0 12th July

  • PVR Pictures, which has so far been distributing only Hollywood films in India, is now looking at also distributing Hindi and other Indian language films as 90 percent of box office collections in India come from Hindi and regional language films.
  • NCLAT has dismissed a petition by HDFC to initiate insolvency proceedings against RHC Holding, an entity promoted by Malvinder and Shivinder Singh as it’s an NBFC and does not come under IBC.
  • The government will scrutinize shareholder pact between Rakesh Gangwal and Rahul Bhatia, the founders of InterGlobe Aviation. Sebi will still be looking into the allegations of governance failure.
  • Oyo has claimed to have become the world’s third largest hotel chain in terms of room count. It now has presence in over 800 cities.
  • Santosh Gangwar, the Labour Minister has said that the government may introduce two labour bills in Parliament next week. The bills would include code on Occupational Safety, Health and working conditions.

India business news headlines weekly roundup 08th t0 12th July

Do read: Most famous BFFs of Bollywood that have withstood the test of time

  • TCS Global HR Head, Milind Lakkad, has said that TCS is one of the top job creators in the US with around 40000 jobs.
  • Flipkart has started curtailing or stopped altogether buying products directly from companies as the wholesale operations have become tougher after tightening of e-comm rules by the Government.
  • The Central Government has told Supreme Court that there is no illegality in the amendment to IBC giving homebuyers a say in the insolvency proceedings of a real-estate firm and the move is to protect the rights of the homebuyers.
  • Flipkart has reportedly asked the Brands selling on its platform to bear the cost of deep discounts. The move is the result of Walmart’s tightening compliance norms after Indian Government’s FDI amendments.
  • A probe by SBI has reportedly flagged transactions worth around Rs.5500 Crores in a few Reliance Group entities led by Anil Ambani.
  • NCLAT has directed Mumbai bench of NCLT to pass an order over insolvency plea against 15 Videocon group companies within the next three weeks.
  • Reduction of the corporate tax rate to 25 percent will reportedly benefit around 4000 companies while the government may have an annual revenue loss of around Rs.3000 Crores.
  • To simplify operations and attract different investors, Oyo may restructure its business into three units – India, International and Technology & brand licensing.
  • Ritesh Agarwal, the founder of Oyo, is reportedly in talks to buy back shares from early investors Lightspeed Venture and Sequoia Capital to increase his share in the company.
  • As per a proposal in the Union Budget 2019, Sebi may give listed companies two years to increase their minimum public shareholding from 25 percent to 35 percent.
  • Zomato may launch home-made food service where people will be able to order home cooked food. Swiggy is already said to be offering this service to around 1000 customers in Gurgaon.
  • To speed up delivery, Amazon India is adding two new specialized warehouses in Guwahati and Patna and will also be expanding its fulfillment centres in Mumbai and Delhi.
  • Finance Ministry is reportedly planning to approach NITI Aayog to prepare another list of PSUs where government holding can be brought to less than 51 percent as also which of these could drop PSU tag and become independently board-run private companies.
  • Anil Ambani is planning to raise around Rs.21,700 Crores from asset sale to cut on debt.

Must read: Nirav Modi-PNB Scam details and Updates

M&As and tie-ups

  • Bharti Airtel has partnered with Shaw Academy, an edu-tech platform, to offer free access to online courses to its customers.
  • Brookfield Asset Management is planning to buy a majority stake in Suzlon Energy and is working with a financial adviser for the due diligence. Suzlon has outstanding bank loans of more than Rs.11,000 crores.
  • Samsung Venture Investment Corporation bought a stake of around 20 percent for $5.75 million in Mumbai-based Indus OS. Valued at around $29 Million, Indus OS is a systems application company.

Start-up world, funds, funding and investments

  • Temasek, Singapore’s state investment arm, is reportedly looking to invest more funds in India, even as it has slowed down investments globally. As of March 31, 2019, Temasek’s India portfolio is $11 billion.
  • Rivigo has raised $65 million in its ongoing series E round of funding, led by Warburg Pincus, and SAIF Partners.
  • As per reports, Tiger Global has examined at least a dozen deals with Indian startups in recent months. Some of the firms it is invested are Locus, Ninjacart, Fyle, and Zenoti.
  • Vedanta is planning to invest Rs.35,000 crores in the metals business. The firm is looking at a growth of 70 percent.
  • IFC is said to be in talks to lend $150 million to RBL Bank as debt financing
  • TVS Capital Funds has made second close of its third PE fund of Rs.1,100 crores from domestic investors. Fund made the first close of Rs.832 crore in October 2018. The fund would focus on investing in financial and business services, and niche consumption segments.
  • Mamaearth, a Baby-care products brand, is said to be in talks to raise around $20 million in a Series B round of funding led by Sequoia Capital India. Its existing investors Stellaris Venture Partners and Fireside Ventures may also participate at a post-money valuation of around $70 million.
  • Moglix, a B2b commerce firm, has raised a funding of $60 million in a series D round led by Tiger Global.
  • Samsung Venture, the VC arm of Samsung Group, has invested $8.5 million in four startups in India including IndusOS and Silvan Innovation Labs.
  • NiYO Solutions, a digital banking start-up, has raised $35 million in a Series B round of funding from Horizons Ventures, Tencent Holdings and its existing investor JS Capital.
  • Swiggy will reportedly invest around $100 Million in Supr Daily, its milk and daily essential delivery business.
  • KKR and Baring PE Asia are leading the discussions to acquire a controlling stake of 75-80 percent in CitiusTech with a bid of around $800 million. CitiusTech is a healthcare technology solutions and services provider.
  • Byju’s has received an investment of $150 million in funding from the Qatar Investment Authority.
  • As per data from Venture Intelligence, startups raised $1.17 billion in the first six months of 2019, rising from $994 million in the same period last year.

Do read: Gems of Kerala: Best places to visit in Kerala


  • Axis Bank has appointed Citigroup, JPMorgan, and its investment banking arm Axis Capital to help raising around $1.3 billion through a share sale.
  • Kamran Ozair, Mindtree co-founder, is said to have resigned from the firm. Three other founders also resigned a few days back.
  • Accenture Inc has named Julie Sweet as its new CEO effective September, who will also join the board of Directors of the company. She is currently looking after Accenture’s business in North America.
  • Vijay Mallya case
  • Vijay Mallya has moved Bombay High Court seeking protection from any adverse action against him and his assets by lower courts and government agencies.

Must read: Best mobile phones under 20000 

  • Airlines updates:
  • Vistara Airlines is launching its International operations from next month and starting flights to Singapore from Delhi and Mumbai.
  • Ashwani Lohani, Air India chief reportedly called a meeting of all the 13 unions of the airlines to discuss terms of privatization.
  • GoAir has announced seven new international routes with daily flights from Delhi and Mumbai to Muscat, Abu Dhabi and Bangkok, Kannur to Dubai and Kuwait.
  • Rakesh Gangwal, one of the IndiGo promoters, has alleged serious governance lapses at the airline and said that even a “paan ki dukaan” would have managed matters with more grace. He has also sought Sebi’s intervention to curb alleged violations by co-founder Bhatia. He is locked in a bitter battle with Rahul Bhatia, the co-founder of the airline.
  • The government wants Sebi to also probe the role of all board members, entities associated with the two promoters of InterGlobe Aviation and take strict action against the parties found guilty.
  • Steel updates
  • Rajnish Kumar, SBI Chairman has said that the Essar Steel lenders will soon be moving Supreme Court against NCLAT awarding higher pay out to operational creditors and treating them on par with secured lenders.

Also read: 08 July-12 July 2019 sports weekly roundup

For more articles like,India business news headlines weekly roundup 08th t0 12th July’, do follow us on FacebookTwitter, and Instagram.

Leave a Reply

Your email address will not be published.

The content and images used on this site are copyright protected and copyrights vests with their respective owners. We make every effort to link back to original content whenever possible. If you own rights to any of the images, and do not wish them to appear here, please contact us and they will be promptly removed. Usage of content and images on this website is intended to promote our works and no endorsement of the artist shall be implied. Read more detailed ​​disclaimer
Copyright © 2019 All rights reserved.
× How can I help you?