CPIH, AIL – II, Ontario Inc. Acquires Interise: CCI Approval
The Competition Commission of India (CCI) has approved the proposed combination involving acquisition of 100% shareholding of Interise Investment Managers Limited by the CPIH, AIL – II. and Ontario Inc. Who are the acquirers? CPIH, AIL – II and Ontario Inc. are the acquirers in this deal. CPPIB India Private Holdings Inc. (CIPH) is a […]
NHAI and Maharashtra Sign MoU for Ropeway Projects
The Maharashtra government has joined hands with the National Highways Logistic Management Limited (NHLML), a 100 per cent owned special purpose vehicle of the National Highway Authority of India (NHAI) for infrastructure development, to implement ropeway as part of the National Ropeway Programme ‘Parvatmala’. The state government has proposed a total of 40 ropeway projects […]
Flywire and SBI Simplify Payments for Foreign Students
Indian students who want to pursue their education abroad can now enjoy a hassle-free and convenient payment process, thanks to the partnership between Flywire Corporation and State Bank of India (SBI), the largest lender in India. The partnership aims to offer Indian students an advanced digital checkout experience for their international educational payments, ranging from […]
HSBC Mutual Fund Introduces Multi Asset Allocation Offering
HSBC Mutual Fund has announced the launch of a new fund offering (NFO) for an open-ended scheme focused on multi asset allocation. The fund aims to invest the corpus in equity and equity-related instruments, debt and money market securities and gold/silver ETFs. The NFO will be open for subscription from February 8 to February 22, […]
Vanguard Reduces Ola Cabs’ Valuation by 30%
Ola Cabs, one of India’s leading ride-hailing companies, has faced a significant valuation cut by US asset manager Vanguard, one of its investors. According to a regulatory filing, Vanguard has reduced Ola’s valuation by 30% to under $2 billion, marking its third consecutive markdown in the past year. What does this mean for Ola? Ola […]
L&T to Construct Bridge Over Brahmaputra
India’s leading engineering and construction company, Larsen & Toubro (L&T), has secured a large contract to construct the country’s longest road bridge across the river Brahmaputra, connecting Dhubri in Assam to Phulbari in Meghalaya. The project is being financed by the Japan International Cooperation Agency (JICA) and will be executed by L&T Construction, the construction […]
ED Investigates Paytm and Bank Unit Over Currency Transactions
The Enforcement Directorate (ED), India’s financial crime-fighting agency, is probing if Paytm and its payments bank violated foreign exchange rules, according to two senior government sources. What are the allegations? The sources, who spoke to Reuters on condition of anonymity, did not specify which provisions of the Foreign Exchange Management Act (FEMA) were being investigated. […]
LIC Launches Unit Linked Policy: Index Plus
Life Insurance Corporation of India (LIC), the largest life insurer in the country, has launched a new product called LIC Index Plus, a unit linked, regular premium, individual life insurance plan. The product is available for purchase from February 6, 2024, as per a BSE notification by LIC on February 5. LIC’s Index Plus is […]
TCS’s AI and ML Solutions for Europ Assistance’s IT Model
Europ Assistance, a leading global assistance and travel insurance company, has chosen Tata Consultancy Services (TCS) as its transformation partner to reimagine its IT operating model. The new deal will enable Europ Assistance to enhance its resilience, scalability and user experience with the help of TCS’s artificial intelligence (AI) and machine learning (ML) solutions. TCS’s […]
Hyundai Eyes $3B India IPO, Estimated Valuation of $25-30B
Hyundai Motor Co, the South Korean automaker, is considering listing its Indian unit in the country’s booming IPO market, according to two sources who have been briefed on the matter. Hyundai Motor India is in early stage talks for the initial public offering and has held discussions with several banks, the sources said. India’s largest […]