Cartrade said that it will acquire 100% stake in Sobek Auto India Pvt Ltd, the entity that houses OLX India’s automotive business. It’s an all cash deal Cartrade is paying Rs 537.43 crore for the transaction Olx Auto financials Revenues: FY 22 – Rs 1,110 cr FY 21 – Rs 592 cr FY 20 – … Read more
A day after it withdrew from a $19.5 billion semiconductor joint venture with mining baron Anil Agarwal’s Vedanta Ltd, Foxconn said it plans to apply for incentives that India is offering under its semiconductor manufacturing policy. “Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem. Foxconn is working … Read more
The Securities and Exchange Board of India (SEBI) clarified in the Supreme Court on July 10 that “challenges” presented by it before the six-member Justice A.M. Sapre expert committee in the Hindenburg-Adani allegations case did not emanate from the repeal of the “opaque structure” provisions from the Foreign Portfolio Investors (FPI) Regulations in 2019. The … Read more
Bajaj Auto (BAL) has sought RBI approval for setting up a new NBFC. The application is currently under consideration by the regulator. The proposed NBFC is for captive financing of Company’s two wheelers and three wheelers. Currently more than 40% of BAL’s vehicles get financed by Bajaj Finance (BFL, the group company), which in turn … Read more