Leading stock exchange BSE on Tuesday said its board has appointed S S Mundra, a public interest director, as the chairman of the bourse. Mundra will replace Justice Vikramajit Sen. "This is to inform that the board of directors of the company on Monday had considered and approved the appointment of S S Mundra, public [...]
Two American nationals have pleaded guilty in a case of multimillion-dollar scheme to manipulate the Marketplace platform of Amazon in which an Indian-origin former employee of the e-commerce giant was sentenced to 10 months in prison in February. Amazon Marketplace is an e-commerce platform owned and operated by Seattle-based Amazon that enables third-party sellers to [...]
RBL Bank on Tuesday said it has raised USD 100 million (about Rs 770 crore) through its first issuance of Basel III-compliant unsecured and subordinated tier 2 bonds. The tier 2 bond issuance increases the bank’s total Capital Adequacy Ratio to 17.85 per cent, RBL Bank said in a statement. The bonds with a tenor [...]
Xanadu Realty Ltd, a realty tech business accelerator firm, on Tuesday announced that it has received a strategic investment from HDFC Ltd and HDFC Life Insurance Co. Ltd. However, the company did not disclose the investment amount. The investment from HDFC Ltd and HDFC Life Insurance Co. Ltd will bolster Xanadu Realty's plans of strategic [...]
Aditya Auto Products & Engineering on Tuesday said it has signed a 50:50 joint venture agreement with international equipment supplier Edscha to tap the increasing domestic automotive systems market potential. The collaboration with Bengaluru-based Aditya Auto, the first venture for Edscha in India, is aimed at developing, manufacturing and distributing door checks, hinge systems, parking [...]
Having committed over USD 955 million (around Rs 7,353 crore) to acquire 10 companies in the immediate past, Tech Mahindra will be less acquisitive in the new fiscal year and focus on integrating them, a senior company official said. The Mahindra Group company, with revenues of nearly USD 6 billion in FY22, will look at [...]
Hero Electric on Tuesday said it has partnered with digital consumer lending platform RevFin to provide loans to EV riders across India. The partnership aims to finance and lease 2.5 lakh vehicles over the next three years, the company said in a statement. With delivery and e-commerce segments growing exponentially, Hero Electric aims to support [...]
Swiss building material major Holcim said its USD 6.38 billion deal with Asia's richest man Gautam Adani's group is tax-free. Holcim had on Sunday signed a binding agreement with the Adani Group to sell its business in India -- about a 63 per cent stake in Ambuja Cement, which owns a 54.53 stake in ACC [...]
NBFC firm Aditya Birla Capital Ltd (ABCL) on Monday said Ajay Srinivasan has decided to step down as MD and CEO of the company and his departure has nothing to do with an investigation into alleged irregularities and corruption. According to reports, serious allegations of corruption and mismanagement have been levelled by a whistleblower against [...]
Adventum Student Living (ASL) on Monday said it has raised USD 5 million (over Rs 38 crore) from investors. ASL is an integrated destination for students pursuing overseas higher education. Within two years of its inception, ASL has introduced and unified three brands - UniAcco, UniCreds, and UniScholarz - that offer a one-stop solution for [...]
