Latest India Business News 27th February 2020

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Latest India Business News 27th February 2020: 

Quote of the Day: “Meeting the deadline is not good enough. Beating the deadline is my expectation.” – Dhirubhai Ambani

  • PhonePe, a digital payment firm, received Rs 427.72 crores in investment from its parent company in Singapore.
  • UiPath, a global RPA startup is planning to expand its growth in India to save costs and to increase employee productivity.

latest india business news 27th february 2020

  • Sweetish House Mafia, a cookie brand raised Rs 12 crores in a pre-series A funding round led by Adar Poonawalla.

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Latest India Business News 27th February 2020

  • The government has formed Inter-Ports Global to speed up developments of Iran’s Chabahar port in which India is a partner.
  • GMR Infrastructure received Rs 5248 crores from Groupe ADP as part of a deal where the French major is buying a 49% stake in the domestic firm.
  • IRB Infrastructure bagged the prestigious Mumbai-Pune expressway project under the TOT model.
  • Infosys granted its restricted stock units worth Rs 3.25 crores to CEO Salil Parekh with a 3-year vesting schedule under the 2015 Incentive Compensation Plan.
  • Freshworks, a SaaS company acquired AnsweriQ, an AI startup for an undisclosed amount.
  • Raksha TPA launched an artificial intelligence-powered servicing for health insurance policyholders through Whatsapp.
  • Hasura, a developer tooling products startup on Wednesday announced that it raised $9.9 million in a Series A round of funding led by Vertex Ventures.

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Latest India Business News 27th February 2020

  • Blackstone Group proceeded with the acquisition of Coffee Day Enterprises’ technology park as it is set to pay the first tranche of Rs 150 crores.
  • Cipla got its first US FDA warning letter ever for its Goa plant for serious violations of good manufacturing practices.
  • Ummeed Housing Finance raised Rs 164 crores in a Series D equity round led by Morgan Stanley PE.
  • After a series of corporate scams and frauds surfacing up in the past few years, the government on Wednesday issued norms for auditors to seek more disclosure in reports.

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