Here are the India Business News Headlines as on 3rd July 2017:
- UrbanClap has raised $21 million in a series C funding round led by Internet investment fund Vy Capital. Vy Capital has also spent approximately $1 million more to buy shares held by some employees and a part of stakes of Snapdeal founders Kunal Bahl and Rohit Bansal. Dubai-based Vy Capital is a major investor in Zomato and has recently invested in rewards app MagicPin.
- Shriram Properties, real estate arm of Rs.90,000 crore Shriram Group, is planning to to go public by next year to raise about Rs 800 crore to fund its new project.
- CMS, the largest cash management company in India managing entire flow and management of money for around 100,000 ATMs and retail points, is working on IPO to raise around Rs.700-800 Crore.
- Whirlpool shall be investing around Rs200 crore on technological innovations and to increase production capacity spread over the next three years.
- Rahul Yadav, Co-founder and ex-CEO of Housing.com, has joined ANAROCK Property Consultants, a newly launched venture of Indian real estate industry stalwart Anuj Puri. ANAROCK is targeting a total portfolio of approx. $500 million for its fund business by 2020.
- GST : Hotel industry is still awaiting clarification from the Government on GST applicability as to whether GST shall be applicable on the Invoice value or the Rack rate.
- As part of 10 year celebrations, top executives of Flipkart including their CEO will hit the road across the country to meet their customers. The visit would include Tier 2 and smaller cities through which Flipkart is expecting their next 100m customers.
*News as published in Business Standard, Live Mint and Economic Times.