Latest India Business News 10th July 2019 – Tentaran

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Read Latest India Business News 10th July 2019:

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  • 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.
  • 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.
  • 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.

Latest India Business News 10th July 2019

  • 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.
  • 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.
  • Jet Airways update – Delhi High Court has said that Naresh Goyal cannot travel abroad without submitting a bank guarantee for Rs.18000 Crores. Goyal had submitted a plea for travel to Dubai reportedly to raise funds for revival of the airline.
  • Kamran Ozair, Mindtree co-founder, is said to have resigned from the firm. Three other founders also resigned a few days back.

Must Read: Sachin Bansal and Binny Bansal

Latest India Business News 10th July 2019

Must Read: India monthly roundup of Start-up world in May, funds, funding and investments

  • Byju’s has received an investment of $150 million in funding from the Qatar Investment Authority.
  • 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.
  • Swiggy will reportedly invest around $100 Million in Supr Daily, its milk and daily essential delivery business.
  • A probe by SBI has reportedly flagged transactions worth around Rs.5500 Crores in a few Reliance Group entities led by Anil Ambani.

Must Read: India monthly roundup of M&As and tie-ups in May

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