Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
add_main_image India a priority for $2 billion The Rise Fund
The Rise Fund, founded by TPG Growth founder and managing partner Bill McGlashan, U2 lead singer and activist Bono, and Jeff Skoll, an entrepreneur and film producer, has closed the largest impact investment fund raised so far with a total corpus of $2 billion, reports Mint. Read moremobAds
Months after getting the go-ahead from the Reserve Bank of India (RBI) to expand the scope of its digital payments business, Amazon India is preparing to make a big push into digital payments and compete aggressively with the likes of Paytm, Freecharge and e-commerce arch-rival Flipkart’s payment business PhonePe, reports Mint. Read more
This is the highest such amount since Indian companies raised $24.2 billion from the equity capital markets in the first nine months of 2007. These nine months of 2017 also saw 55.5% more equity issues compared with the same period last year. Read more
Singapore’s Temasek-backed venture debt provider InnoVen Capital has hired former GE Capital, India, senior executive Ashish Sharma as the new chief executive for its Indian arm, reports Mint. Sharma will replace Chin Chao, CEO of InnoVen, Singapore and South-east Asia, who had stepped in as interim CEO for India on 1 August. Read more
Shares of SBI Life Insurance Co. Ltd debuted almost 5% higher on the bourses on Tuesday, after the insurer’s Rs8,400 crore initial public offer (IPO) was subscribed 3.58 times last week. At close, SBI Life shares ended 1.14% higher at Rs708 apiece on the BSE, reports Mint. Read more
Ford Motor Co. plans to slash $14 billion in costs over the next five years, chief executive officer Jim Hackett told investors on Tuesday, adding that the No. 2 US automaker would shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars, reports Reuters. Read more
Larsen & Toubro said it has acquired the remaining 26% stake in L&T Cassidian Ltd, a joint venture between the engineering conglomerate and Airbus Defence and Space GmbH (Airbus DS), reports PTI. Read more
State Bank of India has shortlisted three companies—Hitachi, Worldline and First Data Corporation—for its joint venture (JV) partner in the merchant-acquiring business. The bank proposes to transfer its business of deploying credit card swipe machines to a new entity that will be a JV with a payment company, reports Times of India. Read moresixthMAds
ESR Pte Ltd, a unit of Asian logistics firm ESR Cayman Ltd, said it had taken an 18% stake in Propertylink Group, buying 60.2 million shares via off-market purchases, according to Reuters. Propertylink’s shares rose up to 8% to an all-time high after the real estate investment trust said on Wednesday that ESR Pte Ltd bought the stake. Read more
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