IndoSpace, one of India’s leading developer of industrial real estate and warehousing facilities, announced today that it held the final close on IndoSpace Logistic Parks III (“ILP III” or the “Fund”), the largest logistics real estate fund ever raised in India. The offering was significantly oversubscribed on the back of strong investor demand. US$ 580…
The Chinese consumer electronics and mobile communication company, Oppo Electronics Corporation (commonly referred to as Oppo), has set up its first research and development (R&D) center in India, Hyderabad, this new center is said to be the 4th R&D set up globally and the largest outside China. However, the company did not disclose the investment details. “The brand…
Gajendra Chandel, President and CHRO at Tata Motors Ltd, has decided to move on from Tata Motors after serving the firm for 14 long years. “Gajendra Chandel has decided to move on from his role at Tata Motors … to pursue his entrepreneurial interests,” a Tata Motors spokesperson said an email response to ET’s queries. Chandel…
Lazada Group, Southeast Asia’s leading eCommerce firm, has announced, as part of succession planning in the group, that its Executive President Pierre Poignant will succeed Lucy Peng as Chief Executive Officer of Lazada Group with immediate effect. Peng will remain Lazada Group Executive Chairwoman. Poignant, who was appointed Group Executive President in August 2018, will…
Walmart Labs India, the local product development division of US retail giant Walmart has acqui-hired key tech team from Artificial Intelligence (AI) and data analytics start-up Int.AI, this is the second acqui-hire made by the retailer in India Acqui-hire refers to the buy out (a company) primarily for the skills and expertise of its staff, rather than for…
Ajay Kapur, MD, and CEO of Ambuja Cement have decided to step down from his position next year after serving the company for 26 years, the company announced in a stock exchange filing. Kapur will step down from his current role from March 1, 2019, and has decided to pursue a career outside the cement industry. “It…
Google LLC, an American multinational technology company that specializes in Internet-related services and products, has acquired Bengaluru-based startup Sigmoid Labs, the parent company of popular train-tracking application “Where is my Train.” “We’re excited to share that Sigmoid Labs, the team behind the “Where is my train” app, is joining Google. We can think of no better…
According to media reports, Harsh Rai, VP and General Manager of Sales, PepsiCo has resigned from his post, ending his long association (almost 17 years) with the company. Ajit Dheer, the current Managing Director of NourishCo, the joint venture between Tata- PepsiCo, will be succeeding Harsh Rai. A PepsiCo India spokesperson confirmed the development to ET.…
The Chief Executive Officer of Myntra, Ananth Narayanan has stepped down from his post according to a Mint article. Myntra’s chief executive officer (CEO) Ananth Narayanan has resigned from his role with his position set to be abolished, and Flipkart executive Amar Nagaram has been tasked with heading Myntra, Mint reported. Myntra’s chief revenue officer, Mithun…
Citing personal reasons Reserve Bank of India Governor, Urjit Patel has stepped down from his post. Patel, 55, took over as the 24th Governor of the central bank on September 5, 2016, for a term of three years. He had the shortest tenure since the year 1992. “On account of personal reasons, I have decided to step…
The government has appointed Krishnamurthy Subramanian, an IIT-IIM alumnus, as the Chief Economic Adviser for a period of three years. “The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Prof. and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser,” said a government notification. Currently,…
IBM and HCL Technologies (HCL) today announced a definitive agreement under which HCL will acquire select IBM software products for $1.8 billion. The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews. The software products in scope represent a total addressable market of more than $50 billion and include: Appscan for…
Renault Nissan Automotive India Pvt Ltd (RNAIPL), which produces passenger vehicles for Renault and Nissan brands on Thursday announced the appointment of Biju Balendran as the firm’s Managing Director and Chief Executive Officer. Biju has more than two decades of experience in automobile manufacturing field in India and international markets. He was the first employee to join RNAIPL…
Homegrown Private equity firm ChrysCapital announced that it has acquired about 80% stake in GeBBS Healthcare Solutions for a deal worth Rs 1,000 crore ($140 million). Founded in 2005, the US-based GeBBS Healthcare Solutions provides business process outsourcing (BPO) services to hospitals and healthcare organizations. GeBBS will continue to be led by Nitin Thakor and Milind Godbole…
IL&FS Investment Managers, part of the debt-laden IL&FS group, on Thursday announced that its board has appointed Nand Kishore and Kaushik Modak as additional directors in the company. Kishore and Modak have been appointed to the board in the capacity of nominee directors of Infrastructure Leasing & Financial Service. “The board of directors of the company…