Here’s today business news, the latest business news India today 1 December 2021.
- Edelweiss Financial Services is said to have been looking to raise up to Rs.500 crores through the issuance of secured redeemable NCDs.
- Supreme Court has reportedly set aside a Noida police directive barring Yes Bank from exercising its rights over its owned shares of Dish TV India. It also stayed the ongoing police probe, saying such actions can have “dangerous consequences”.
- Axis Bank has reportedly received approval from NSE and BSE to reclassify four insurers from promoter category to public shareholders.
- Advent International has reportedly merged Dixcy Textiles and Gokaldas Intimatewear, its portfolio companies into a newly created entity called Modenik Lifestyle.
- Cargill, the edible oil maker, has reportedly acquired an edible oil refinery in Nellore, Andhra Pradesh for $35 million to increase its production capacity.
- Indian Renewable Energy Development Agency has reportedly entered into an agreement with Brahmaputra Valley Fertilizer to provide its techno-financial expertise in developing renewable energy projects and fundraising.
- R. Thyagarajan, founder of Shriram Group, has reportedly outlined group’s succession plan after he decided to step aside and act only as a mentor to a board of management.
Must Read: India News Headlines Today – 1 Nov.
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- Coal India is reportedly planning to invest Rs.19,650 crores by FY23-24 for increasing its coal transportation capacity by 330 MT by constructing rail links and entering into new JVs.
- Zomato has reportedly started a platform to help restaurants raise investments, called ‘Zomato Wings’.
- Microsoft Corp. Chief Executive Satya Nadella sold about half of his shares in the company last week, according to a federal securities filing.: LiveMint
- Lumos Alternate Investment Advisors and Gruhas Proptech LLP have reportedly partnered for raising an Rs.500 crore real estate fund.
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- ZebPay, India’s oldest crypto asset exchange, announced to have appointed Tarun Jain as its CFO. Tarun Jain was previously Lithium Urban Technologies as CEO and has also held various leadership positions in firms like Herman Miller, Zoomcar, and Warner Bros.
- Landmark Capital is said to have launched a Category II alternative investment fund ‘Landmark Warehousing and Logistics Fund’ with a target corpus of Rs.500 crores, including an Rs.200 crores green-shoe option.
- Paytm Payments Services is reported to have partnered with platforms like Oyo, Myntra, Domino’s and others, and entered into agreement with payment giants such as Mastercard, Visa, and RuPay to deploy card-on-file tokenization service for its consumers and merchants.
- Bessemer Venture Partners, the US-based VC firm, has reportedly raised a new dedicated India fund with a corpus of $220 million, the first such country-specific fund ever raised by the company.
Must Read: Today in Indian History – 1 Nov.
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