CarDekho Group, India’s leading car search venture, has expanded its global footprint by acquiring online car classifieds site, Carmudi Philippines. Carmudi was a part of Rocket Internet and is an online car classifieds site focusing on emerging markets. The company was founded in 2013. In the company’s statement on this move, Co-Founder and President, CarDekho…
Happiest Minds Technologies ranks among top 25 of India’s best workplaces in IT & IT-BPM (Business Process Management) industry for 2019 in a study conducted by the Great Place to Work Institute. The ranking is based on a structured assessment of about 200 organizations in the sector on their workplace and people practices. Happiest Minds, founded by…
Fortis Healthcare Limited has appointed Sim Heng Joo Joe (Joe) as an additional director (Non-Executive and Non-Independent) of the Company. He will hold the office up to the next Annual General Meeting and will be regularized subject to the approval of the shareholders. Joe is presently the Chief Executive Officer (CEO of Malaysia Operations Division,…
Leading Indian media firm, Amar Ujala, has acquired a majority stake for around 130 crore as part of its expansion plans in the healthcare sector. Cygnus Medicare is a chain of super speciality hospitals that has spread its wings in the NCR region. Amar Ujala has said, in a media statement to PTI, “ The…
Zee Entertainment Enterprises Ltd has reconstituted its board with appointment of three new independent directors in lieu of two independent and one nominee Director of Essel Group – namely Niharika Vora, Sunil Sharma and Mr. Subodh Kumar. The reconstituted board consists of six independent directors and two members from the Essel Group. The company has…
Salcomp, a Finland headquartered company and one of Apple’s major component suppliers, has bought Nokia’s defunct handset facility for around Rs 215 crore. The manufacturing facility is expected to create over 10000 jobs. The shut down of this factory in 2014, had resulted in a job loss for around 8000 workers. This factory was Nokia’s…
The Committee of Creditors of Reliance Communications Limited (“RCOM”) at its meeting held on November 20, 2019 refused to accept the resignation of Anil Ambani and four others from their position as Director of the company. Last week, Anil Dhirubhai Ambani had resigned from his position as Director of Reliance Communications, along with four others…
Razorpay has acquired payroll management company Opfin. The announcement was made at the second edition of FTX, Razorpay’s flagship fintech conference on 22nd November 2019. Opfin was founded in 2017 by Anuj Jain. It provides payroll automation and related services like leaves and offer letter generation to its clients. The platform also provides for storage…
Fortune’s 2019 Businessperson of the Year is finally out. There are reasons to feel good about as India’s Satya Nadella, CEO of Microsoft, has topped the list. Nadella is not the only Indian origin CEO who has made it to the Top 20, Ajay Banga (Mastercard) is at 8th spot, and Jayshree Ullal (Arista Networks)…
UPL Limited, an Indian multinational company that manufactures and markets agrochemicals, industrial chemicals, chemical intermediates, and specialty chemicals, and also offers crop protection solutions, has entered into definitive agreements to acquire 100% shares of Yoloo (Laoting) Bio-technology Co., Ltd. (“Laoting Yoloo”), an agrochemical company based in Hebei Province, China, from Beijing Yoloo Bio-Technology Corp., Ltd…
Tech Mahindra has acquired Born Group, a global digital & content production agency, owned by PE firms True North Capital and Zodius Capital. The deal is valued at $95 million, and is an all-cash deal. As per the deal terms – Tech Mahindra Limited will acquire the Indian subsidiary of Born Group, Born Commerce Private…
Gurugram-based e-commerce company ShopClues is being acquired by Singapore’s Qoo10 in an all-stock deal. It is learnt that the deal valued ShopClues at $70-100 million. This valuation of Shopclues, is a serious low from its peak, during close of year 2015, when it was valued at $1.1 billion. The company achieved a billion dollar valuation…
IndusInd bank has been on look out for a replacement for its Managing Director and Chief Executive Officer, Romesh Sobti, who is due to retire in March 2020. The bank has finalized a potential candidate for the position. In accordance with the recommendation of the Nomination and Remuneration Committee , the Board of Directors of…
Andersen Global has a new member firm in India.Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. The company has announced the addition of a new member firm in India, Nangia Andersen LLP. Andersen Global now has more than 4,500 professionals worldwide and…
Gurugram based online premium and luxury brands startup, Smytten, has raised $1.5 million in new funding round from Roots Venture. With this, the company has raised a total of $ 3 million. This round of funding will help Smytten expand their user base, build on their infrastructure and offline reach. Smytten is not like a…