Paytm may pick up stake in BigBasket for $200 mn
New Delhi: Alibaba and SoftBank-backed Paytm is believed to be in discussions to pick up minority stake in online grocery retailer, BigBasket for about $200 million, according to sources. The due diligence is on and the deal could be finalised in the next
few weeks, sources privy to the development said. They did not wish to be identified as discussions are still on and the deal has not been signed yet.
BoB to raise up to Rs 3k-cr via Basel III bonds
New Delhi: Public lender Bank of Baroda is set to raise up to Rs 3,000 crore through Basel III compliant bonds. "The finance committee of our bank approved today issuance of AT-1 capital bonds compliant with Basel III capital regulations. For a minimum amount of Rs 500 crore with greenshoe option and total issuance not to exceed Rs 3,000 crore,” the bank said in a regulatory filing on Wednesday.
Tata Motors global sales decline 1.71% in June
New Delhi: Tata Motors on Wednesday reported 1.71 per cent decline in global sales in June at 90,966 units, including that of Jaguar land Rover (JlR) vehicles. The company had sold 92,551 units in June 2016, Tata Motors said in a statement. In the passenger vehicles category, global sales stood at 60,725 units last month as against 59,831 units during the same period in 2016, a growth of 1.5 per cent.
Vodafone Foundation unveils ‘Social App Hub'
New Delhi: Vodafone Foundation has launched India's first crowd sourcing platform -’Social App Hub' that curates, strengthens and promotes mobile apps designed and developed for community welfare. Developed in partnership with the NASSCOM Foundation, it showcases the best of mobile solutions that address critical sectors like health, education, agriculture, governance, disability and safety. It features over 200 apps like Mandi Traders that enables farmers to sell produce directly to consumers, Safetypin - a personal safety app for women to Autism iHelp a mobile tool for children with Autism.
CCI clears Essilor-luxottica deal
New Delhi: The Competition Commission (CCI) has given its nod to ophthalmic lens developer Essilor International's acquisition of luxottica Group, which owns popular sunglass brand Ray-Ban.
In a tweet, the CCI said that it has approved ‘acquisition by Essilor International SA Of luxottica Group’. As per the notice submitted to the CCI, the transaction would entail a combination of Essilor International SA And luxottica Group SPA Businesses consisting of Delfin SàRl Contributing its entire stake in luxottica, approximately 62 per cent, to Essilor in return for newly- issued Essilor shares. Essilor is engaged in ophthalmic lens development and its flagship brands are Varilux, Crizal, Transitions, Eyezen and Xperio. luxottica designs, manufactures and distributes eyewear and its portfolio includes many proprietary brands such as Ray-Ban and Oakley.