Read Latest India Business News 21st June 2019:
- Advent International has emerged as the sole bidder for biopharma firm Bharat Serums & Vaccines with a bid of $520 Million (around Rs.3,600 crores).
- Dewan Housing Finance has sold Rs.2,000 crores worth of its loan portfolio to offshore investors in a transaction led by SC Lowy.
- Jet Airways – NCLT has admitted an insolvency petition against Jet Airways filed by its creditors. The insolvency process will allow lenders led by SBI to sell the company as a whole or its assets.
- Mindtree has proposesd appointment of three Directors from L&T subject to the approval of shareholders.
- Oyo hotels has announced to invest $300 million in the US over the next few years.
- Flipkart has revamped its seller financing program to help MSMEs. The changes will allow the sellers to avail credit at competitive interest rates from 10 NBFCs and banks it has partnered with.
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- Japan’s Fuji Electric has entered into an agreement to acquire a 100% stake in Consul Neowatt Power Solutions, a UPS maker, reportedly for Rs.720 crores.
- Druva, a US and Pune based software firm, has raised $130 million in a fresh round of funding led by Viking Global. Sequoia Capital is an early investor in the firm.
Latest India Business News 21st June 2019
- R Venkataramanan, the trusted person of Ratan Tata, has joined Mukesh Ambani’s office. He recently quit Tata Trusts on reported allegations of misuse of IT exemptions.
- SoftBank Vision is reportedly in discussions with CureFit to invest around $200 million.
- IL&FS – ED has told the court that IL&FS Financial Services alone has allegedly laundered over Rs.5,000 crores of shareholder funds. Reportedly RBI had flagged 11 stressed accounts amount to Rs.1200 crores in 2017.