Latest India Business News 25th March 2019
Minority lenders have agreed to grant priority status to funding to Jet Airways. This will allow SBI and PNB to provide emergency funding to keep the airline afloat till the time a complete resolution plan is chalked out.
Naresh Goyal and his wife Anita Goyal may reportedly leave the board of Jet Airways today. However, Vinay Dube, the CEO, is expected to stay on board.
Chinese venture funds like Shunwei Capital, CDH Investments and Morningside Ventures have either hired or are looking to hire associates in India to increase the deal flow in India. In 2018 the Chinese investors infused over $900 million worth of investments in India.
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PharmEasy is reportedly in early-stage talks to raise $100 million from SoftBank at a valuation of around $400 million.
The Karnataka government revoked the suspension order of Ola. It had banned Ola last week from operating in the state for six months.
Delhivery has secured $413 million in a fresh funding round led by the SoftBank and some other existing investors.
Netmeds has acquired Ki-Vi Health a health tech startup, in a cash and stock deal. Ki-Vi Health is a clinic management platform as also a digital health information system.
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Hinduja family has topped the ‘Asian Rich List’ with an estimated net worth of 25.2 billion pounds. This is the sixth consecutive year that Hindujas have topped the list. Lakshmi Mittal and his son Aditya Mittal have retained the second place with a net worth of 11.2 billion pounds.
Reliance Communications Enterprise has pledged 4.5% of its holding in RCom with IndusInd Bank. The number of pledged shares is around 12.5 Crores.
SoftBank and Amazon are among some of the investors which have shown interest to potentially lead a funding round of $100 million in Drivezy.
Flipkart has set up an internal fund to invest across early-stage startups.