Here’s today business news, the latest business news India today 22 June 2021.
- Muthoot Fincorp is reported to have picked up a 54% stake in Paymatrix, a fintech startup, by buying out existing investors.
- Progcap, a fintech startup, is said to have raised $25 million as part of its Series B funding round led by Tiger Global and Sequoia Capital India.
- KKR & Co. is reported to have agreed to buy a controlling stake in the owner of the Fogg brand of deodorants, Vini Cosmetics, from Sequoia Capital and the firm’s promoters for $625 million.
- Portl, a home fitness and wellness startup, is said to have raised an undisclosed amount in seed funding round from Kalaari Capital.
- As per a report, financial creditors of Videocon Industries will reportedly get 8% equity in the newly merged entity.
- Adani Transmission will reportedly ask for shareholders’ approval to raise up to Rs.2,500 crores through issuance of equity shares, securities, debentures, etc in its AGM scheduled to be held on July 13.
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- The board of Dish TV India is said to have approved its plan to raise up to Rs.1,000 crores through a rights issue.
- Competition Commission of India tweeted to have approved the proposed acquisition of an additional equity stake in United Breweries by Heineken International B.V’s.
- As per the latest amendment in rules, companies having a market capitalization of over Rs.1 lakh crores at the time of listing can now reportedly sell just 5% of their shares. The move is likely to benefit the government during the proposed LIC IPO.
- Adani group has reportedly deferred plans to take over airport assets in Jaipur, Guwahati and Thiruvananthapuram to December as operating these businesses may not be financially feasible during the covid-19 pandemic.
- Bharti Airtel and Tata Group have reportedly entered into a strategic partnership for implementing 5G network solutions for India.
- Reliance Home Finance is said to have appointed a panel for taking forward the resolution process of the firm.
Latest business news India today 22 June 2021 – business news India today
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- Bizongo, a b-2-b platform for unbranded goods, is said to have appointed Manish Choksi, Asian Paints’ vice-chairman to its advisory board.
- Nippon Life India Asset Management announced to have appointed Rupesh Patel as a senior fund manager in equity investments, and Hideaki Masago as deputy chief risk officer.
- Reckitt’s India business will reportedly be headed by Gaurav Jain who will oversee health and hygiene business divisions.
- Maruti Suzuki India will reportedly increase the prices of its cars from July 2021 to pass on some impact of additional cost to customers.
- Viacom18 Media and Zee Entertainment Enterprises are said to be in initial talks for a potential merger:LiveMint. There is however of official word on this.
- SAT has reportedly given its approval to PNB Housing Finance to go ahead with its EGM scheduled. This will allow the firm to conduct the voting process for its Rs.4,000 crores deal with investors led by Carlyle.
- SBI said that its board has approved raising capital by issuance of Basel III compliant debt up to ₹14,000 cores.
- IIFL Home Finance is reportedly planning to raise up to Rs.5,000 crores through public issue of NCDs.
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