Here are the India Business News Headlines as on 18th July 2017:
- Britannia is keen to expand its dairy business and is considering transition of the dairy model to a fully integrated one. As of now, dairy business contributes five to six per cent to its annual turnover.
- Infosys co-founder N R Narayana Murthy has said that his biggest regret in life is the decision to leave the company in 2014, after his second stint and hand over the reins to a non-founder management and board.
- Flipkart Snapdeal merger – Flipkart has sent Snapdeal revised buyout offer of $850 million. As part of the buyout offer, Flipkart has offered to pay Snapdeal $650-700 million in stock immediately and another $150 million at a later date.
- IIFL Asset Management Co. Ltd has raised around $216 million for its Category-II alternative investment fund, named IIFL Special Opportunities Fund-Series 2, launched in May. Fund I closed at $250 million.
- KKR & Co. Lp has acquired a 49% stake in hospital chain Radiant Life Care Pvt. Ltd for $200 million.Radiant’s facilities include BLK Super Speciality Hospital in Delhi and Nanavati Super Speciality Hospital in Mumbai.
- SBI has filed the draft red herring prospectus for its initial IPO. SBI and BNP Paribas will sell 80 million and 40 million shares respectively, amounting to a combined 12% stake.
- Flipkart is working hard to break even at the gross profit level by the end of the financial year by reducing discounts, logistics and warehousing costs.
- Paytm has made an undisclosed investment in Mobiquest, a loyalty programme start-up. Mobiquest’s flagship product is m’loyal, a mobile-based platform for retailers and business-to-consumer firms.
- After almost a year of negotiations, HDFC Life has scrapped merger plans with MaxLife. It has now started the procedure to raise Rs.10,000 Crore through IPO.
- Lenskart has lined up an investment of Rs.110 Crore. Lenskart, is looking to expand to Tier-II cities and open another 150 stores, making their total number of stores to 500.
- Kae Capital, an early stage investor, has put in an undisclosed amount into Hypernova, a gaming startup.
*News as published in Business Standard, Live Mint and Economic Times.