Latest India Business News 25th April 2019 – Ravneet Gill, the new CEO of Yes Bank is reportedly planning to replace the entire top management. Around 14 top executives of Yes Bank have been listed for a potential replacement.
Jet Airways has provided a web interface to travel agents for refund claims which can be submitted until 20 May. Every Monday Jet Airways and credit card companies will validate the claims. Claims for flight ticket refunds will be validated within 45 days.
Xiaomi is now aiming to generate half of its overall revenue in India from offline sales. Mi Studio has been added as the fourth pillar to its offline sales strategy with Mi Preferred Partners, Mi Homes, and Mi Stores being already in place.
Tata Teleservices is in talks with American Tower Corporation to sell its entire stake in the mobile tower business for around Rs.2,500 crores. It had sold half of its stake to ATC in Oct.2018.
Must Read: Upcoming events in India in May 2019
After complaints from ITC and LIC, Sebi has barred Hotel Leelaventure from selling its assets, including four hotels, to Brookfield Asset Management.
The promoters of Indiabulls have reportedly initiated talks to sell their entire stake of 38.8% in its real estate arm IBREL.
Future Retail has raised around Rs.2,000 crore through issue of warrants to its promoter group entity on a preferential basis.
Vue.ai, an AI-based start-up working on automating fashion retail, has raised $17 million in a Series B round of funding led by Falcon Edge Capital. The firm has so far raised $27.5 million funding including the current round.
Mobile Premier League, a mobile-focused eSports gaming platform, has raised $35.5 million in a Series A round of funding led by Sequoia India, Times Internet, and GoVentures.
Tiger Global has invested $89.5 million in NinjaCart, an agri-tech startup.
Amit Jain, head of the Asia Pacific business Uber, has resigned, reportedly in a restructuring jig before the launch of IPO. The company has appointed Pierre-Dimitri Gore-Coty to take charge.
After talks on an agreement between Saregama and Spotify failed, High Court has told Spotify to remove over One lakh songs owned by Saregaama from its platform in the next ten days.
Gaana has claimed to have over 100 million active users on its music app.
Omnivore Partners, an early-stage venture investment fund, has raised $97 million for its second fund as against its target of $75 million.
Amazon has reportedly made changes in seller commissions on almost half of its product categories. The move is aimed to reduce cash burn and improve margins. It has also increased the logistics fee and raised charges for promoting lightning deals.