Zomato recently had invested $75 mn into Shiprocket as a part of it’s start-up investing strategy. T V Mohandad Pai (ex Infosys CFO) in a tweet raised concern that whether there is a conflict of interest in this investment by Zomato as Deependier Goyal (Founder CEO) had previously invested into Shiprocket in his personal capacity. … Read more
Reliance has partnered with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) to invest $2 billion in setting up a petrochemical production facility in the UAE. Key pointe to note – TA’ZIZ is aimed at developing economic competitiveness of UAE. TA’ZIZ comprises of three main zones: the TA’ZIZ Industrial Chemicals Zone (TICZ, chemicals production), TA’ZIZ Light … Read more
Eris has formed a JV with MJ Biopharm for this purpose. Key points to note – Eris will hold 70% of the JV and MJ 30%. MJ is also getting Rs 15 crore as one time lump sum licence fee. MJ will be responsible for development of products and Eris marketing of those. JV seems … Read more
Larsen & Toubro Ltd. (L&T) and ReNew Power, a renewable energy company (promoted by Sumant Sinha), have entered into a partnership agreement to tap the emerging green hydrogen business in India. Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in the country and in other countries. “It … Read more
The move was widely anticipated after Facebook had invested $6 bn into Jio’s platform unit early last year. Key points to note – Ordering is through “tap and chat” option. Delivery is free and there’s no minimum order value. Payment can be made either via JioMart or cash on delivery. Aim is to utilise the … Read more
The Company has confirmed that it is developing a nasal spray for COVID-19 prevention for which it has initiated the clinical trials. Key points to note – The product would be helpful in preventing infection and transmission of COVID-19. It has been developed by scientists at ITC Life Sciences and Technology Centre (LSTC). The same … Read more
In line with the ongoing industry trends, JSW Energy too separates it’s Green (Renewables) from Grey (Thermal) business into a separate 100% owned subsidiary – JSW Energy Neo. Key Points to note: The Company targets to reach a power generation capacity of 20GW by 2030 compared with 4.5GW currently. Of the current capacity 30% is … Read more
In line with Reliance’s increasing focus on renewables and hydrogen, the Company has decided to put gasification assets into a separate 100% subsidiary. Key points to note – The Gasification project at Jamnagar was set up to repurpose refinery off-gases and produce Syngas to be used for production of olefins at lower costs. Syngas is … Read more
IPCA already owns 9.84% of Lyka. Besides, IPCA’s promoters separately held 1.18% in Lyka. It has now bought additional 16.73% from Lyka’s shareholders taking it’s total stake to 26.57% (excluding the above 1.18%). Key points to note – In line with the regulations, the transaction has kicked an open offer of additional 26% at the … Read more