Here are the India Business News Headlines as on 4th August 2017:
- Acer has bagged Rs 30 crore contract for supply of 15,000 laptops under a government sponsored scheme in Odisha. Govt’s been distributing free laptops to meritorious students passing 12th free of cost for the past five years.
- Oberoi Realty has shelved plans to float mall JV. It will use its internal cash flows and debt to invest in its upcoming malls.The company was in talks with investors, such as US-based Morgan Stanley, Singapore’s GIC and others, to float a JV with a corpus of Rs 1,000 crore.
- Infosys would acquire London-based firm Brilliant Basics, that specialises in customer experience and product design, for Rs 62.76 crore (£7.5 million). This would help Infosys to expand design-based technology services in Europe and West Asia.
- Sebi has closed its investigation into allegations raised by Cyrus Mistry about violations at various Tata companies as it did not find any violation of norms as alleged.
- To promote innovation and entrepreneurship in agriculture, the govt is launching a new AGRI-UDAAN programme that will mentor start-ups.
- M&M’s Directors Committee has approved sale of 13.74% stake (9.66 million shares) in subsidiary Mahindra Logistics through IPO.
- Lendingkart Finance has raised $10 million debt from Kotak Mahindra Bank, others. Funds will be used to give out more loans.
- Star Health Insurance is planning to raise up to Rs.3,000 crore and has appointed a domestic investment bank to advise on the various fundraising options including an IPO.
- Avendus Finance, the non-banking finance company owned by KKR-backed Avendus Capital, has launched Rs.500 Crore debt fund and shall announce its first close by the end of August. The fund will supplement what is being done by NBFC.
- CVC Capital has hired Carlyle’s Mohit Goyal as it sets up India investment team. It had earlier hired Amit Soni as MD.to SMEs and widen its pan-India presence.
*News as published in Business Standard, Live Mint and Economic Times.