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Strides Pharma Science inks pact with MPP to commercialise molnupiravir in global markets

New Delhi, Jan 20 (PTI) Strides Pharma Science on Thursday said it has inked a partnership with Geneva-based Medicines Patent Pool (MPP) to commercialise antiviral drug molnupiravir in the international markets. The company and its subsidiary, Universal Corporation (Kenya), have entered into a voluntary non-exclusive sub-license partnership with MPP covering 105 countries, the drug firm [...]

Insolvency: Videocon lenders invite fresh expressions of interest by Feb 2

New Delhi, Jan 20 (PTI) The consortium of lenders of Videocon Industries has invited fresh expressions of interest for the debt-ridden group after the insolvency appellate tribunal rejected the approval of Rs 2,692 crore bid by Vedanta Chairman Anil Agarwal-promoted Twin Star Technologies earlier this month. Pursuant to the order of the National Company Law [...]

Doorstep diesel services provider Humsafar to enter EV space

Mumbai, Jan 20 (PTI) Humsafar India, an app-based doorstep diesel services provider, is all set to make a foray into the growing  Electric Vehicle (EV)-charging and battery replacement business and plans to set up its first charging stations in Delhi and Noida, a release said on Thursday. The company plans to set up charging stations [...]

FSS partners with UAE’s first digital banking platform

Chennai, Jan 20 (PTI): Integrated payments technology company FSS (Financial Software and Systems) has partnered with the United Arab Emirates-based YAP, a digital banking platform, to deliver secure, digital first-card experiences to consumers in the Middle-East and African regions. Under the partnership, YAP and FSS would work to deliver greater value to customers by combining [...]

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Gurugram RERA inks MoU with startup Jupitice to digitise buyers complaint redressal system

New Delhi, Jan 20 (PTI) Haryana Real Estate Regulatory Authority, Gurugram on Thursday signed an MoU with Jupitice Justice Technologies for complete digitalisation of consumers complaint redressal system. The authority and Jupitice Justice signed a memorandum of understanding (MoU) in the regard, according to a statement. The MoU was signed in Gurugram in the presence of KK [...]

Strides Pharma Science inks pact with MPP to commercialise molnupiravir in global markets

New Delhi, Jan 20 (PTI) Strides Pharma Science on Thursday said it has inked a partnership with Geneva-based Medicines Patent Pool (MPP) to commercialise antiviral drug molnupiravir in the international markets. The company and its subsidiary, Universal Corporation (Kenya), have entered into a voluntary non-exclusive sub-license partnership with MPP covering 105 countries, the drug firm [...]

Insolvency: Videocon lenders invite fresh expressions of interest by Feb 2

New Delhi, Jan 20 (PTI) The consortium of lenders of Videocon Industries has invited fresh expressions of interest for the debt-ridden group after the insolvency appellate tribunal rejected the approval of Rs 2,692 crore bid by Vedanta Chairman Anil Agarwal-promoted Twin Star Technologies earlier this month. Pursuant to the order of the National Company Law [...]

Doorstep diesel services provider Humsafar to enter EV space

Mumbai, Jan 20 (PTI) Humsafar India, an app-based doorstep diesel services provider, is all set to make a foray into the growing  Electric Vehicle (EV)-charging and battery replacement business and plans to set up its first charging stations in Delhi and Noida, a release said on Thursday. The company plans to set up charging stations [...]

FSS partners with UAE’s first digital banking platform

Chennai, Jan 20 (PTI): Integrated payments technology company FSS (Financial Software and Systems) has partnered with the United Arab Emirates-based YAP, a digital banking platform, to deliver secure, digital first-card experiences to consumers in the Middle-East and African regions. Under the partnership, YAP and FSS would work to deliver greater value to customers by combining [...]

LML Electric ties up with Saera to produce EVs

New Delhi, Jan 20 (PTI) LML Electric on Thursday said it has entered into a strategic partnership with Saera Electric Auto -- the former manufacturing partner of Harley Davidson in India -- to produce its electric two-wheelers. Under the partnership, Saera's facility located at Bawal in Haryana will produce a whole range of upcoming LML [...]

Natco Pharma signs pact with MPP to sell Molnupiravir capsules

New Delhi, Jan 20 (PTI) Natco Pharma Ltd on Thursday said it has signed a non-exclusive license agreement with the Medicines Patent Pool (MPP), Switzerland to manufacture and sell Molnupiravir capsules 200 mg for treatment of COVID-19. MPP had taken licence from Merck Sharp & Dohme Corp (MSD), USA for the same, the company said [...]

M2P Fintech raises USD 56 mln from Insight Partners, MUFG arm

Mumbai, Jan 20 (PTI) M2P Fintech, which calls itself a financial infrastructure company, on Thursday announced a USD 56 million (about Rs 409.7 crore) fundraise led by New York-based private equity fund Insight Partners.Japan's MUFG Innovation Partners and existing investors Tiger Global and Better Capital also participated in the funding round, a statement said, adding [...]

JM Financial PE leads Rs 100 cr investment in BigHaat Agro

New Delhi, Jan 20 (PTI) Agri-digital platform BigHaat Agro has raised Rs 100 crore in a funding round led by JM Financial Private Equity.Apart from JM Financial Private Equity, Beyond Next Ventures, one of the earlier investors in BigHaat, also participated in the funding round.Proceeds from the investment will support augmentation of the existing technology infrastructure [...]

Australia’s Blackmores enters into distribution partnership with Udaan

New Delhi, Jan 20 (PTI) Australia-based health and dietary supplements company Blackmores on Thursday announced a distribution partnership with B2B e-commerce firm Udaan for its range of multi vitamins products. As part of the partnership, Blackmores' range of premium multi vitamins products will be available to independent pharmacies in India through Udaan "The launch on [...]

Mahindra partners with SAP for digital transformation

New Delhi, Jan 20 (PTI) Mahindra & Mahindra (M&M) on Thursday said it has partnered with SAP to spearhead its digital transformation journey. SAP will enable the Mumbai-based automaker to successfully modernise its technology landscape and enhance overall operations. "Agility and business innovation is a priority in the changing industry dynamics and customer expectations. We believe [...]

StockGro concludes $32 mn funding round

New Delhi, Jan 20 (PTI) Bengaluru-based social investment startup StockGro on Thursday said it has concluded a USD 32 million (around Rs 232 crore) funding round that was led by global investors, including Bitkraft Ventures, General Catalyst and Lightrocks co-founder Itai Tsiddon.Existing investors such as Roots Ventures and Creed Capital Asia also participated in the [...]

Colliers ropes in three senior experts to further strengthen its service capabilities in Mumbai

- These industry veterans have joined the Office Services and Project Management teams to drive Colliers' aggressive expansionary strategy MUMBAI, India, Jan. 20, 2022 /PRNewswire/ -- Leading diversified professional services and investment management firm Colliers (NASDAQ: CIGI) (TSX: CIGI) today announced the appointment of three senior executives, who have joined Colliers' office in Mumbai, as [...]

Larsen & Toubro dispatches coke drums to Mexico

New Delhi, Jan 20 (PTI) Larsen & Toubro (L&T) on Thursday said its heavy engineering arm has dispatched six of the world's largest coke drums to Mexico. These coke drums were successfully manufactured during the COVID-19 pandemic at L&T's state-of-the-art Heavy Engineering Complex located at Hazira near Surat, the company said in a statement. "The [...]

NCLAT directs Jalan-Kalrock consortium to share resolution plan details with Jet Airways’ workmen

New Delhi, Jan 20 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Thursday directed the Kalrock-Jalan consortium, the winning bidder for bankrupt Jet Airways, to share portions of the resolution plan pertaining to claims of employees with the airline's workmen. The Association of Aggrieved Workmen of Jet Airways (India) Ltd had sought a copy [...]

Toyota Kirloskar drives in Hilux brand; deliveries to begin in April

New Delhi, Jan 20 (PTI) Toyota Kirloskar Motor on Thursday launched the iconic SUV model Hilux in the country.The automaker, which is a joint venture between the Japanese Toyota Motor Company and Kirloskar Group, has commenced bookings for the model, with deliveries expected to begin in April.The company noted that the vehicle would come with [...]

Silver jewellery startup GIVA raises USD 10 mn from investors

New Delhi, Jan 20 (PTI) Silver jewellery startup GIVA has raised USD 10 million (around Rs 74 crore) from investors including Sixth Sense Ventures, to grow its business through offline and online mode. The company, in its series A funding round, raised USD 10 million, led by D2C-focused venture capital funds Sixth Sense Ventures, A91 Partners and [...]

CESL launches biggest ever tender worth Rs 5,500 cr for 5,580 electric buses

New Delhi, Jan 20 (PTI) State-run Convergence Energy Services Ltd (CESL) on Thursday launched the biggest ever tender worth about Rs 5,500 crore to procure as many as 5,580 electric buses including 130 double deckers. CESL, a wholly-owned subsidiary of Energy Efficiency Services Limited (EESL), on Thursday announced the floating of a request for proposals [...]

Global corporate funding in solar sector nearly doubles to USD 27.8 bn in 2021: Mercom Capital

New Delhi, Jan 20 (PTI) The global solar sector has witnessed total corporate funding of USD 27.8 billion in 2021, the highest in the last 10 years, according to Mercom Capital Group.Corporate funding includes venture capital and private equity (VC), debt financing, and public market financing.In its latest report, the global clean energy consulting firm [...]

Exxelia acquires majority stake in Alcon Electronics for nearly USD 100 mn

New Delhi, Jan 20 (PTI) Exxelia, a leading designer and manufacturer of high-performance passive components and sub-systems, on Thursday said it has acquired a majority stake in Alcon Electronics for nearly USD 100 million. Exxelia completed the majority acquisition of Alcon Electronics on December 29, 2021, according to a company statement. "We are excited to [...]

NCLAT stays insolvency proceedings against HCL Tech

New Delhi, Jan 20 (PTI) In a major relief to IT firm HCL Technologies, the National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings initiated against it on a plea filed by a creditor.A two-member NCLAT bench, while admitting the petition filed by HCL Tech MD and CEO C Vijayakumar stayed the National [...]

Equifax India Joins Hands with FACE to Combat Fraud with Launch of a New Fraud Exchange

A first of its kind in India, Luminate Exchange is a risk management exchange that will enable fintech lenders to mitigate fraud real-time, using the power of big data Mumbai, Maharashtra, India – Business Wire India Equifax Credit Information Services Private Limited (ECIS), a leading credit bureau, has launched ‘Luminate Exchange’ in collaboration with FinTech [...]

Kriya Medical Tech gets ICMR approval for COVID-19 testing kit

New Delhi, Jan 20 (PTI) Chennai-based medical device firm Kriya Medical Technologies on Thursday said it has received Indian Council of Medical Research approval for Krivida Novus COVID-19 testing kit -- developed in collaboration with ImmuGenix Bioscience -- that can also detect the Omicron variant.The kit detects the SARS-CoV-2 virus and also differentiates the Omicron [...]

Pixis raises USD 100 mn funding from SoftBank, others

New Delhi, Jan 20 (PTI) California-based technology company Pixis (formerly known as Pyxis One) on Thursday said it has raised USD 100 million (about Rs 743.8 crore) in funding, led by SoftBank Vision Fund 2. The Series C round also saw participation from new investor General Atlantic, and existing investors Celesta Capital, Premji Invest, and [...]

Bunge to pick 33% stake in UPL’s associate firm Sinagro in Brazil

New Delhi, Jan 20 (PTI) Global agri-trade firm Bunge will acquire a 33 per cent stake in Brazil-based Sinagro, an associate company of India's leading agrochemical firm UPL Ltd.UPL Ltd and other shareholders in Sinagro Produtos Agropecuarios SA, Brazil, (Sinagro) have entered into an agreement with Bunge in this regard.Bunge Ltd will acquire a 33 [...]

Glenmark Pharma inks exclusive licensing agreement with Lotus International

New Delhi, Jan 20 (PTI) Glenmark Pharmaceuticals Ltd on Thursday said its Swiss arm has entered into an exclusive licensing agreement with Lotus International Pte Ltd for commercializing its innovative nasal spray Ryaltris in Singapore, Hong Kong and Vietnam. Under the agreement signed between Glenmark Specialty SA and the wholly-owned subsidiary of Lotus Pharmaceutical Co, [...]

Tejas Networks Appoints Mr. N. Ganapathy Subramaniam and Mr. Amur S. Lakshminarayanan as Directors

BENGALURU, India, Jan. 20, 2022 /PRNewswire/ -- Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced the appointment of Mr. N. Ganapathy Subramaniam and Mr. Amur S. Lakshminarayanan as Nominee Directors from Panatone Finvest Limited, a subsidiary of Tata Sons Private Limited. This appointment is based on recommendation of the Nomination and Remuneration Committee of Tejas [...]

Daffodil Software Announces Expansion Plans, To Hire 500 Employees this Year

GURGAON, India, Jan. 20, 2022 /PRNewswire/ -- Gurgaon-based software engineering company announced that it has plans to create 500 full-time jobs this year. To keep up with the increasing customer demand and to strengthen their portfolio for diverse technologies, Daffodil has declared a massive number of vacancies at its headquarters in Gurgaon. The COVID-19 pandemic [...]

3 independent directors of PTC India Financial Services resign over corporate governance issues

In an unusual development, all three independent directors on the board of PTC India Financial Services (PFS) on Wednesday resigned over corporate governance issues and other matters. The three independent directors who have resigned from the board with immediate effect are Kamlesh Shivji Vikamsey, Santosh B Nayar and Thomas Mathew T, according to a regulatory [...]

PFC Consulting transfers 2 subsidiaries to Adani Transmission for implementing projects

New Delhi, Jan 19 (PTI) State-owned Power Finance Corporation on Wednesday said its arm PFC Consulting Ltd has transferred two wholly-owned subsidiaries to Adani Transmission Ltd for implementing power transmission projects. Adani Transmission had emerged as the successful bidder for these two transmission projects on January 18, according to a BSE filing. As per the [...]

Business briefs 4

Newgen Software acquires Number Theory for over Rs 16 cr Mumbai, Jan 19 (PTI) Newgen Software, a leading provider of a unified digital transformation platform, has acquired Number Theory, which is an artificial intelligence/ machine learning (AI/ML) data science platform firm, for Rs 16.05 crore. This is a strategic acquisition and Newgen will make a [...]

Rocketlane raises $18 mn in funding

New Delhi, Jan 19 (PTI) Rocketlane, a customer onboarding platform, on Wednesday said it has raised USD 18 million (about Rs 133.8 crore) in funding led by Asana investor, 8VC and others.The Series A round also saw participation from Nexus Venture Partners, Matrix Partners India, and angel investor Gokul Rajaram, a statement said.The latest funding [...]

Cabinet sanctions Rs 974 cr to SBI for ex-gratia payment to borrowers

New Delhi, Jan 19 (PTI) The government on Wednesday approved sanction of Rs 973.74 crore to State Bank of India (SBI) as reimbursement related to loan moratorium that was implemented in 2020 amid the pandemic. This amount is for the payment of claims submitted by lending institutions (LIs) under the scheme for grant of ex-gratia [...]

Diginoor.io raises USD 1 million seed funding from Contrary Capital, Polygon

Chennai, Jan 19 (PTI): Diginoor.io, a non-fungible token (NFT) market place founded by city-based entrepreneurs Shaamil Karim and Yash Rathod, on Wednesday said it has raised USD 1 million funding for its plans to hire a talented team. "The round saw participation from Contrary Capital, Polygon Fund, Sandeep Nailwal, Kunal Shah, Embassy Capital MD Abdul [...]

Prodapt acquires Synophic Worldwide, steps up presence in US & Latin American regions

Chennai, Jan 19 (PTI) Consulting, technology and managed transformational services provider Prodapt on Wednesday said it has acquired Synophic Worldwide, providing network transformational and managed services to digital service providers for an 'undisclosed sum". The acquisition made by Prodapt was its third this financial year. Prodapt earlier announced the acquisitions of Innovative Logic and SLR [...]

Avendus secures Rs 500 cr for 2nd structured credit fund

Mumbai, Jan 19 (PTI) Avendus PE Investment Advisors, the asset management arm of the Avendus Group, has raised over Rs 500 crore in the first close of its structured credit fund II which has a target of garnering Rs 1,000 crore in corpus on completion. For the Sebi-registered category II alternative investment fund, this is [...]

SJVN earns Rs 34.40 crore as incentive from its hydropower units

New Delhi, Jan 19 (PTI) State-owned SJVN Ltd on Wednesday said it earned Rs 34.40 crore as an incentive from its hydropower plants during April-December 2021. "The company has earned Rs 34.40 crore as incentive under the deviation settlement mechanism from 1,500-MW (megawatt) Nathpa Jhakri HPS and 412-MW Rampur HPS (hydropower station) in three quarters [...]

Popeyes Launched in India By Jubilant Foodworks, opens first restaurant in Bengaluru

New Delhi, Jan 19 (PTI) Jubilant Foodworks Ltd, the country's leading quick service restaurant (QSR) operator, on Wednesday announced to launch the iconic US Fried Chicken brand Popeyes in India by opening its first store in Bengaluru on Wednesday. Louisiana-born Popeyes was founded in 1972 and has been one of America's most popular and fastest-growing [...]

Porter to undertake maiden ESOP liquidation prog worth $5 mln

New Delhi, Jan 19 (PTI) Tech-based intra-city logistics company Porter on Wednesday announced its maiden Employee Stock Ownership Plan (ESOP) monetisation programme worth USD 5 million (about Rs 37.2 crore) for its eligible current and former employees. The liquidation opportunity, which will be open for participation through next week, is expected to benefit both the [...]

BharatPe MD Ashneer Grover takes voluntary leave till March-end

New Delhi, Jan 19 (PTI) BharatPe co-founder and managing director Ashneer Grover, who was recently embroiled in a controversy over purportedly using abusive language against Kotak Mahindra Bank staff, has taken a voluntary leave till March-end, as per a statement issued by the fintech company on Wednesday. Grover informed the company's board about his decision [...]

Scripbox raises USD 21 mn in funding from Accel Partners, others

New Delhi, Jan 19 (PTI) Digital wealth manager Scripbox on Wednesday said it has raised USD 21 million (about Rs 150 crore) in a combination of equity and debt through Series-D funding led by Accel Partners.The funding round also saw participation from Transpose Platform, DMI Alternative Investment Fund - The Sparkle Fund, InnoVen Capital, Trifecta [...]

Mankind Pharma forays into critical care segment

New Delhi, Jan 19 (PTI) Mankind Pharma on Wednesday said it has forayed into the critical care segment in the country with the launch of a dedicated division. The new division Saviour Mankind has commenced operation from Wednesday with a product range that includes anti-infectives and medications for stroke and trauma management. "Through this division, [...]

Reliance Retail acquires 55% stake in Addverb Technologies: RIL

New Delhi, Jan 19 (PTI) Reliance Retail had acquired about 55 per cent stake in robotics firm Addverb Technologies in July 2021, Indian conglomerate Reliance Industries Limited said in a filing on Wednesday. Addverb Technologies co-founder and CEO Sangeet Kumar has told PTI that Reliance Retail has invested USD 132 million (about Rs 983 crore) [...]

Chennai-based Cholamandalam Investment lines up aggressive growth plans

Chennai, Jan 19 (PTI) Cholamandalam Investment and Finance Company Ltd, the financial services division of diversified conglomerate Murugappa Group, on Wednesday said it has launched three new business divisions under the consumer and SME business. The Chennai-based leading player in vehicle finance, loan against property, and housing finance business, said it has entered into an [...]

NCLAT gives go-ahead to ArcelorMittal’s resolution plan for Odisha Slurry Pipeline

New Delhi, Jan 19 (PTI) The National Company Law Appellate Tribunal (NCLAT) has approved ArcelorMittal India's takeover bid for Odisha Slurry Pipeline Infrastructure Ltd (OSIL), after it dismissed a batch of appeals filed against the L N Mittal-owned unit's resolution plan for the loan defaulter firm. A two-member Bench, comprising Jarat Kumar Jain (judicial member) [...]

Dileep Sanghani elected as IFFCO chairman

New Delhi, Jan 19 (PTI) Dileep Sanghani has been elected as chairman of the Indian Farmers Fertiliser Cooperative (IFFCO). The election was held on Wednesday, IFFCO said in a statement. These elections were held due to the demise of incumbent Chairman Balvinder Singh Nakai earlier on October 11, 2021. The elected board of directors of [...]

Advocacy group FCRP flags concerns over resolution professional appointment in Srei matter

Mumbai, Jan 19 (PTI) The Forum for Companies Under the Resolution Process (FCRP), a grouping of businessmen, has raised concerns about an EY top executive being the resolution professional for the Srei group, which is undergoing RBI-mandated insolvency proceedings, saying his appointment "reeks of conflicts of interest". Abizer Diwanji, a partner and national leader for [...]

IndiGG raises $6mn funding from Sequoia Capital India, others

New Delhi, Jan 19 (PTI) IndiGG, a part of Yield Guild Games (YGG), on Wednesday said it has raised USD 6 million (about Rs 44.7 crore) in funding from Sequoia Capital India, Lightspeed Venture Partners and others. The round also saw participation from Jump Capital, Variant Fund, Dune Ventures, Griffin Gaming Partners, Transcend Fund, Animoca [...]

Hero Electric, Mahindra ink pact to collaborate in EV space

New Delhi, Jan 19 (PTI) In a significant development, Hero Electric and Mahindra Group on Wednesday announced a strategic pact in the electric vehicle space. As part of the partnership, Mahindra Group will manufacture Hero Electric's most popular electric bikes -- Optima & NYX -- at their Pithampur plant, in Madhya Pradesh to meet the [...]

Pet foods start-up Dogsee Chew raises Rs 50 cr

New Delhi, Jan 19 (PTI) Pet foods start-up Dogsee Chew on Wednesday said it has raised Rs 50 crore in Series A round from Mankind Pharma along with existing investor, Sixth Sense Ventures. The investment in the firm that offers 100 per cent vegetarian dog treats marks Mankind Pharma's entry into the pet food category, [...]

Lupin inks pact with Shenzhen Foncoo to introduce products in China

New Delhi, Jan 19 (PTI) Drug firm Lupin on Wednesday said it has inked a pact with Shenzhen Foncoo Pharmaceutical Co to sell products in China. This is the company's first partnership arrangement in China and reinforces drug maker's commitment to bringing high-quality generic and complex generic medicines to patients around the world, Lupin said [...]

Power Finance Corp, REC reduce lending rates by 40 bps

New Delhi, Jan 19 (PTI) State-run non-banking financial firms -- Power Finance Corporation (PFC) and REC Ltd -- have reduced their lending rates across all types of loans by 40 basis points. PFC and REC Ltd have further reduced their lending rates across all types of loans by 40 Bps, a power ministry statement said. [...]

CredR to invest USD 15 mn to expand used 2-wheeler business

New Delhi, Jan 19 (PTI) Used two-wheeler buying and selling platform CredR on Wednesday said it will invest USD 15 million (around Rs 110 crore) in 2022-23 to expand its business. The Bengaluru-based firm plans to open 50 CredR showrooms for used two-wheelers in FY22-23 and over 100 showrooms by 2024, CredR said in a [...]

Heifer International, Cargill and Walmart Foundation Partner to Invest in Farmer Producer Organizations in India

Hatching Hope: Accelerating Incomes Through Diversification builds on global backyard poultry initiative and previous program partnerships to challenge cultural norms and increase financial independence for women VIJAYAWADA, Andhra Pradesh, Jan. 19, 2022 /PRNewswire/ -- Today, Heifer International, Cargill and Walmart Foundation announced the expansion of Hatching Hope: Accelerating Incomes Through Diversification into India to improve [...]

Burns & McDonnell India Announces New Leadership

Anjan Khandelwal Will Work as the Firm's Chief Financial Officer and Parul Gopal as Chief Administrative Officer. MUMBAI, India, Jan. 18, 2022 /PRNewswire/ -- Burns & McDonnell India, a full-service engineering, architecture, construction, environmental and consulting solutions firm, has named Anjan Khandelwal as chief financial officer (CFO) and Parul Gopal as chief administrative officer (CAO). [...]

Govt suspends GAIL director Ranganathan after CBI arrest

New Delhi, Jan 18 (PTI) The government has suspended E S Ranganathan, Director (Marketing) of GAIL (India) Ltd, after his arrest by the CBI over allegedly taking bribes to give discounts to private companies buying petrochemical products from the state-owned gas utility. The Ministry of Petroleum and Natural Gas on January 17 issued orders suspending [...]

Vikram Dev Dutt appointed Air India Ltd chief

New Delhi, Jan 18 (PTI) Senior bureaucrat Vikram Dev Dutt has been appointed as the Chairman and Managing Director of Air India Ltd as part of a senior-level bureaucratic reshuffle effected by the Centre on Tuesday.Dutt is a 1993-batch IAS officer of AGMUT (Arunachal Pradesh, Goa, Mizoram and Union Territory) cadre.He has been appointed as [...]

Sidbi sanctions Rs 650 cr to two SFBs for onlending

Mumbai, Jan 18 (PTI) Sidbi on Tuesday said it has sanctioned financial assistance of Rs 650 crore to AU Small Finance Bank and Jana Small Finance Bank so as to reach out to small-sized NBFCs/MFIs who will in turn provide funding to small businesses and micro entrepreneurs. An amount of Rs 530 crore has already [...]

Hero MotoCorp, Engine No. 1 to invest in Gogoro Inc and Poema Global Holdings

New Delhi, Jan 18 (PTI) Two-wheeler market leader Hero MotoCorp and investment firm Engine No. 1, along with another investor, will invest in electric vehicle battery swapping ecosystems provider Gogoro Inc and Poema Global Holdings, a special purpose acquisition company, increasing the total funding to USD 285 million, according to a regulatory filing. With this, [...]

Firmenich signs Strategic Partnership Agreement with HARMAY in China

Collaboration brings expanded value to Fine Fragrance category GENEVA, Jan. 18, 2022 /PRNewswire/ -- Firmenich, the world's largest privately-owned fragrance and taste company, is proud to announce a new strategic partnership with HARMAY, a leading new retail brand in China. Under the agreement, Firmenich and HARMAY will join forces to contribute to the development of [...]

BBNL to connect 6,929 border, Naxal-hit panchayats by June with satcom services

New Delhi, Jan 18 (PTI) Rural broadband infrastructure organisation BBNL expects to connect 6,929 panchayats located in border, Naxal-affected areas and in island territories with satellite-based communications services. The special purpose vehicle under the telecom ministry has already commissioned satellite services in 4,682 gram panchayats (GPs) including those located in Galwan Valley, Doklam, Leh, Tawang [...]

Skoda Auto Volkswagen names Piyush Arora as Managing Director

New Delhi, Jan 18 (PTI) Skoda Auto Volkswagen India on Tuesday said it has appointed Piyush Arora as Managing Director with effect from March 1, 2022. Arora succeeds Gurpratap Boparai who resigned last month. In this role, Arora will be responsible for expanding the Volkswagen Group's business in India, including the recent INDIA 2.0 project. [...]

MyCaptain raises USD 3 Million in Pre Series-A funding

Bengaluru, Jan 18 (PTI) MyCaptain, a city-based online mentoring startup on Tuesday announced that it has raised USD 3 million in Pre Series-A funding, led by Ankur Capital. The round also saw participation from IPV (Inflection Point Ventures), Firstport ventures, IIM Calcutta Angels Network, Singapore Angel Investors and other Super Angels. This funding will be [...]

Dixon, boAt form 50:50 JV to manufacture Bluetooth enabled audio devices

New Delhi, Jan 18 (PTI) Electronics manufacturing firm Dixon Technologies and Imagine Marketing -- the parent company of earwear brand boat -- have formed a 50:50 joint venture to manufacture Bluetooth enabled audio devices.“The company and Imagine have entered into a joint venture agreement to form a joint venture company for undertaking the manufacture of [...]

Ohmium partners with IIT Madras Research Park

New Delhi, Jan 18 (PTI) Ohmium International has partnered with IIT Madras Research Park (IITMRP) to accelerate Polymer electrolyte membrane (PEM) electrolyzer performance enhancements. Both the entities have announced a R&D partnership, which will accelerate the production implementation of PEM electrolyzer technology enhancements, a statement said. Ohmium International enables industries to deploy green hydrogen for [...]

Nazara acquires majority stake in Datawrkz for Rs 124 cr

New Delhi, Jan 18 (PTI) Gaming and sports media company Nazara Technologies on Tuesday said it will acquire a 55 per cent stake in programmatic advertising and monetisation company Datawrkz for about Rs 124 crore. The transaction values the Bengaluru-based company at Rs 225 crore (approximately USD 30 million), linked to CY 22 EBITDA performance, [...]

Exide Life appoints Sanjay Vij as the ED and Principal Officer

Bengaluru, Jan 17 (PTI) Exide Life has announced the appointment of Sanjay Vij as the Executive Director and Principal Officer with effect from January 10. On January one, 2022, HDFC Life Insurance Company Limited announced the completion of the acquisition of Exide Life Insurance Company Limited, subsequent to receiving all relevant regulatory approvals, an Exide [...]

Cholamandalam Investment to acquire 72% stake in Payswiff for Rs 450 cr

New Delhi, Jan 17 (PTI) Cholamandalam Investment and Finance Company on Monday said it plans to acquire 72.12 per cent stake in fintech payment solutions provider Payswiff Technologies Private Ltd for Rs 450 crore. The company, an NBFC, is part of the Murugappa Group. Cholamandalam Investment has signed a shareholders' agreement and a Share Purchase [...]

Paytm issues over 4.5 lakh FASTags in Dec

New Delhi, Jan 17 (PTI) Paytm Payments Bank on Monday said it issued over 4.5 lakh FASTags in December 2021, registering 11.33 per cent rise as compared to the previous month. Paytm Payments Bank Ltd (PPBL) claims to have led the market in the FASTag segment with 28.2 per cent market share. The firm said [...]

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