Here are the India Business News Headlines as on 8th August 2017:
- Airtel is planning to sell 3.7% in Bharti Infratel for Rs 2,500 crore to help company lower its debt. Bharti Airtel and Nettle jointly hold 61.65 per cent in Bharti Infratel.
- Wipro has made its cloud-based Data Discovery Platform available for customers on Microsoft Azure through a “pay-per-insight” model. It’s a big data analytics-as-a-service solution that can enhance the ability of businesses in sectors such as banking and financial services, retail, energy, education, and manufacturing to make better decisions using pre-built applications.
- To reduce its dependency on outsourcing, Britannia is in the process of installing a new manufacturing plant with an investment of about Rs.1000 Crore. Land acquistion work is in progress.
- Masayoshi Son, chairman and CEO of the SoftBank Group, has confirmed that the company is in talks to invest directly in Flipkart. The investment is expected to be around $2b.
- Swedish lock-maker Assa Abloy has made second India acquisition in Shree Mahavir Metalcraft, a leading manufacturer of architectural hardware and locks. After the acquisition, Shree Mahavir will continue to function under the current management led by its founders.
- GIC of India has filed for IPO to raise Rs10,000 crore. The IPO will see a total stake dilution of 14.22%.
- Manmohan Agarwal, former founder of Yebhi.com, has kick started his 2nd venture, Truxapp, a truck aggregation platform. The company has received about $3.1m funding since its launch in 2015 through angel funding.
- Azure Hospitality, operator of restaurant chains Mamagoto, Dhaba by Claridges, has raised Rs.76 Crore from its existing investors to fuel its growth plans in India as also enter global markets.
- Health startup, Cure.Fit has signed up Hrithik Roshan as brand ambassador for 5 years for Rs.100 Crore. The deal includes actor’s equity stake in the company.
- Around 2196 new ventures have been recognized by the Department of Industrial Policy and Promotion since the launch of Startup India.
- Anil Goteti, who heads marketplace and retail product &operations team at Flipkart, will now head eBay India, recently acquired by Flipkart.
*News as published in Business Standard, Live Mint and Economic Times.