Sector: Infra
Conflict of interest concern raised about Zomato’s investment into Shiprocket. Founder denies.
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
Anil Ambani’s firm continues to win legally in the metro project dispute
The Supreme Court has again ruled in favor of Delhi Airport Metro Express Pvt Ltd (DAMEPL) whereby it has upheld the 2017 arbitral award of Rs 4,600 crore payable by Delhi Metro Rail Corporation (DMRC) to DAMEPL. Key points to note – DAMEPL is a consortium between Reliance Infrastructure Limited and Construcciones y Auxillar de … Read more
GMR Wins an airport project in Indonesia
GMR is announced as the winning bidder for development and operation of Kualanamu International Airport in Medan, Indonesia. Key points to note – Contract has been won by GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited. GMR will enter into 49:51 partnership with Angkasa Pura 2 (AP2) for this project. AP2 is a … Read more
Zomato does an Info edge. Gets into start-up investing
Zomato along with it’s Q2 FY 22 results also announced that it has committed $275 mn across four start-ups in the last 6 months and will deploy another $1 billion over the next one to two years. Four investments of $275 mn – $100 mn for 9.3% stake in Grofers $50 mn in Curefit along … Read more
TCI Express planning drone deliveries by FY 22 end
MD of the Company, Mr Chander Agarwal claims to have recently concluded the initial trials. In the trials conducted in Ahmedabad, medicines and other urgent/immediate delivery packages weighing 5-10 kgs were delivered to the customers, he said. The trials were conducting in collaboration with a start-up and made in India drones were used, he further … Read more