Latest India Business News Headlines 24th April 2018

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Read latest India business news headlines 24th April 2018 :

India business news headlines 24th April 2018

  • Edelweiss and Kotak may buy Avantha’s debt  of Rs.4,300 crore from a group of lenders led by Axis Bank. The consortium is yet to take final call with both firms seeking a 50% haircut.

  • The Board of Music Broadcast has approved acquisition of Friends 91.9 FM radio of Ananda Offset in Kolkata by way of slump sale. The transaction will allow MBL to tap Kolkata market, one of the top five markets in India, as also to explore the large potential it offers from national advertisers.

  • Urbanpod, the Capsule hotel firm is looking to expand its model in 8 more cities and is looking to raise Rs.20 crore. Urbanpod is looking to introduce capsule hotels at railway stations and pilgrimage centres across the country. The term ‘Pod’ is derived from their pod-sized rooms fitted with a bed.

  • Paytm is in advanced talks to acquire ticket booking platform TicketNew from Alibaba Pictures. The deal, expected to be around $30-40 million, may be completed by next month.

  • Healthcare startup Doxper has raised Rs.7.3 Crore in funding from its existing investors. Doxper allows clinicians to instantly digitise their case sheets.

  • Jet Airways has signed a code-share agreement with Aeromexico for travel commencing 1 May, 2018 between Delhi and Mumbai and Mexico via Heathrow airport and the companies will use each other’s codes on the flights at these sectors.

  • Capital Float, a digital lending firm, has raised $22 million in equity funding from Amazon Inc., taking total equity funding in the firm to $107 million. The firm had earlier raised debt financing of $130 million from various banks.

  • In his first formal address to investors as CEO of Infosys, Salil Parekh pledged to stabilize and turn around the company in three years as also presented a three-year roadmap to restore firm’s position as the leader of India’s $167 billion IT industry.

  • Tata Sons has named S. Jaishankar, ex-foreign secretary, as its Global corporate affairs head. He will report to N. Chandrasekaran, Chairman, Tata Sons and will be responsible for group’s global corporate affairs and international strategy development.

  • Essar Steel sale: Fresh hurdle for Numetal, ArcelorMittal in NCLT order who has given them one month to fix their ineligibility. As per the order, both of them must clear debts in defaulting companies where they hold stakes before bidding for the Essar Steel.

  • Bhushan Steel update : NCLT has asked Bhushan Steel creditors to consider the bid of Liberty House and said that the bid cannot be rejected solely on the ground of being submitted after the deadline.

  • Fortis update : Munjals and Burmans have extend their bid validity for Fortis Healthcare till May 4. They had earlier revised their offer of Rs 12.5 billion to Rs 15 billion. The move comes in the backdrop of the decision of Board of Fortis Healthcare to select new investors.


*News as published in Business Standard, Live Mint and Economic Times.
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