ROSENFT TO SUPPLY RUSSIAN CRUDE TO RELIANCE FOR 10 YEARS IN DEAL WORTH $13 BILLION PER YEAR
In a significant deal worth over $13 billion per year, Russia's state-owned Rosneft oil company has agreed to supply up to 500,000 barrels per day of crude oil to Reliance Industries for the next decade. The deal marks the largest ever energy agreement between India and Russia, ensuring stability in crude oil flows to a country heavily dependent on imports.
AUS TRALIAN COMPANIES SEEK TO SELL HIGHWAY PROJECTS IN INDIA
Macquarie Asset Management, an Australian-based asset manager, is set to sell its stake in nine national highway stretches worth around $2 billion. The sale process is expected to begin by early next year, while Macquarie will appoint a banker by the end of December. Highway assets in India have been attracting investor interest in recent months.
KKR TO BUY REBEL FOODS SHARES AT VALUATION OF NEARLY $860 MILLION
Private equity firm KKR has agreed to buy shares worth $50-75 million from existing investors, valuing Rebel Foods at nearly $860 million. The deal is a secondary transaction, with existing investors Peak XV and US investment firm Coatue selling shares. This development comes after the Mumbai-based cloud kitchen firm announced a $210 million funding round led by Singapore's Temasek.
CHINESE SMARTPHONE COMPANIES EXPANDING OPERTATIONS IN INDIA AS TENSIONS THAW
Chinese smartphone companies such as OnePlus, Xiaomi, Vivo and Oppo are slowly expanding their operations in India, investing in brand promotion, appointing distributors and getting deeper into manufacturing. With tensions between the two countries easing, these firms are cautiously moving forward after facing scrutiny in India since 2020.
SAMSUNG ACCUSES COMPETITION REGULATOR OF UNLAWFULLY SEIZING DATA AND DETING EMPLOYEES
Samsung has accused India's competition watchdog of unlawfully detaining its employees and seizing data in connection with an antitrust investigation on Amazon and Walmart's Flipkart. The company is seeking to quash the probe findings related to conduct.
PAYTM PAYMENTS BANK HOLDS RS 1,400 CROR IN DEPOSITS AFTER FILEING COMPLIANCE REPORT TO RESERVE BANK
Paytm Payments Bank continues to hold over Rs 1,400 crore in customer deposits at the bank, which are parked in government securities and deposits with the RBI and other banks. However, in January, the banking regulator imposed severe business restrictions on the lender on alleged regulatory breaches.
STERLITE POWER RAISES rs 725 CROR TO EXPAND GLOBAL PRODUCTS AND SERVICES BUSINESS
Power transmission player Sterlite Power is raising Rs 725 crore for its global products and services business from GEF Capital Partners and ENAM Holdings. The firm has hived off its GPS business, which marks the first fundraiser for the new business.
PIRAMAL ALTERNATIVES TO INVEST RS 185 CROR IN PUNE-BASED HEALTHCARE CONSULTING PROVIDER
Piramal Alternatives, an investment vehicle backed by the Ajay Piramal Group, has entered into an agreement to invest up to Rs 185 crore in Pune-based healthcare consulting and revenue cycle management provider 3Gen Consulting. The money will be utilized to expand 3Gen Consulting's service offerings.
TRADE IN INDEX OPTIONS PLUNGES BY 30% AFTER REGULATORY MEASURES TO CURB SPECULATION
The trade in index options has plummeted 30 percent to 2.14 billion contracts in the week ended December 6, following regulatory measures aimed at curbing excessive speculation. The market regulator has imposed measures to prevent widespread losses.
SMALLER ENTITES TAKE BATTLE OF QUICK MEDICINE DELIVERIES TO BIG PLAYER LIKE FLIPKART AND SWIGGY
Smaller entities such as Medino's, Medstown and Plazza have started 30-minute medicine delivery services in smaller cities and are looking to raise funds to expand their operations. As Flipkart and Swiggy prepare to add medicines to their quick delivery portfolios.