Today’s India Business News Headlines – 4th July 2017 –

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Here are the India Business News Headlines as on 4th July 2017:

  • Nandan Nilekani, Infosys co-founder and Sanjeev Aggarwal, a venture capitalist, have launched a $100-million venture fund to back mid-stage start-ups that solve unique Indian problems in the consumer technology space.
  • BookMyShow has acquired Burrp, a Mumbai-based local restaurant recommendation engine, from Network18. Burrp is India’s oldest food-tech business and currently lists over 56,000 restaurants across 12 cities.
  • Everstone Capital-backed IndoStar Capital is close to acquiring ICICI Home Finance. IndoStar Capital will pay Rs2,000 crore for 67% stake in ICICI Home Finance, ICICI Bank will continue as a minority shareholder with a 33% stake.
  • Though IndiGo has shown keen interest in buying part of Air India, its shareholders are not in the favour of this deal. Shares of IndiGo fell by about 7.7% on NSE in two days after IndiGo’s interest became public.
  • Byju’s has acquired global education company Pearson Plc.’s TutorVista and Edurite for an undisclosed amount. With this acquisition, Byju’s is looking to expand its global reach and offerings for students.
  • Amazon has approached family offices of prominent businessmen to create more merchant entities that will act as sellers on its India based marketplace. Burman family, Dabur family and Infosys co-founder Kris Gopalakrishnan’s family holdings are among already approached. The JV will be similar in function to Cloudtail India, the largest seller on Amazon India.

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

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