Here are the Business Headlines as on 3rd April 2017:
- Snapdeal promoter ‘Jasper Infotech’ in trouble as Softbank(a major investor)spars with other board members, namely Kalaari Capital & Nexus Venture Partners. A recently proposed Debt deal is off the table.
- Ola cabs line up funding from RNT Capital, a Ratan Tata Enterprise, while Uber is busy trying to sort out a series of management and regulatory hurdles.
- New and Costlier rules most likely for overseas investors from Singapore, Mauritius and Cyprus as treaties comes in force from April 01, 2017.
- The government is looking to hire technology company to run its online procurement marketplace called GeM.
- Education company S Chand to raise Rs.650 crore via IPO.
- Investments in Commercial real estate sector continue to grow.
- To avail of tax benefits before GST rollout, FMCGs rush to Assam, Firms have invested nearly Rs.3000 crore in the past few months to build new plants.
- Shell withdraws from Kakinada gas project.
- MobiKwik eyes smart cities. The company is eyeing gross transactions of around Rs.20,000 crore in the next 5 years.
- M&A add value to Aditya Birla group investors. UltraTech remains the biggest gainer since the company began its M&As.
- Most of Infosys’s promoters did not vote for the resolution seeking a pay hike for chief operating officer Pravin Rao.
- RBI may focus on squeezing excess liquidity in the system.
- BSE to charge for each equity trade from today.
- Alliance Air first off the blocks, to start Udan operations this month.Air India subsidiary Alliance Air’s maiden flight will take off from
- Bhatinda in Punjab to Delhi later this month.
- Capital International buys 3% stake in Intas Pharmaceuticals for $107 million.
- Eruditus raises Rs.53 Crore from Bertelsmann India. The company plans to use funds to add new programmes, expand geographical reach.
- Early stage venture fund, Unicorn India Ventures has made its first investment in fintech space in Bengaluru-based SmartCoin.
- Testbook, an education technology startup, has raised undisclosed amount from Matrix Parters India.
- Urban Ladder readies to take on Ikea with offline stores.