Here’s today business news, the latest business news India today 17 September 2021.
- Byju’s has reportedly acquired Tynker, a US-based coding platform, in a stock-and-cash deal, making it its 9th acquisition ahead of its IPO expected next year.
- Pine Labs, an Indian merchant platform, has reportedly raised $100 million from the US-based Invesco Developing Markets Fund.
- The Managing Director of Poonawalla Fincorp Abhay Bhutada has resigned from the company with immediate effect.
- JSW Steel has globally become the first steel company to raise $1 billion by issuing USD-denominated Sustainability Linked Bonds in the overseas market.
- Avinga Industries & Logistics Park has launched a 4 million square feet warehousing facility in Hoskote, Karnataka.
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- The Cabinet has recently approved a government guarantee of up to Rs 30,600 crore for the security receipts issued by the National Asset Reconstruction Company as a part of the resolution of bad loans.
- SVF Entertainment, an Indian media, and entertainment company, has entered the retail business by launching Daylis, a supermarket chain in Kolkata. The idea is to create a neighborhood store with everyday low pricing facilities for customers to enjoy discounts.
- Power Finance Corporation Ltd has issued its maiden €300 million 7-year Euro Green Bond, making it a milestone issuance. It is the first-ever Euro-denominated Green bond issuance from India.
- SBI has recently announced to charge home loan borrowers an interest of 6.7% based on their credit score, irrespective of the loan amount and profession. It has also waived off the processing fees completely to make the homeownership more affordable.
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- Indospace, a real estate development platform, has launched a new industrial park in Narasapura, near Bengaluru, to attract global manufacturers to the state of Karnataka.
- India’s leading biscuits and confectionery manufacturer Parle Products has extended “Hide & Seek” into the cereals category. It aims to produce nutritious cereals for healthy breakfast and strengthen its product portfolio for consumers of all ages.
- NCLT has approved the amalgamation of Lincoln Pharmaceuticals and Lincoln Parenteral Ltd to bring efficiency in operations, enhancement of competitive strength and productivity.
- TVS Motor Company has entered into a fast-growing $23.5 billion global e-bike business by acquiring Switzerland-based e-bike producer EGO Movement.
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