Axis Bank has signed an agreement for sale of 1,40,00,000 equity shares (10% of total outstanding shares) of face value of Rs 10 per share of Experian Credit Information Company of India (Experian India) at Rs 45.7 per share, resulting in a total cash consideration of Rs 64.00 crore. The above transaction is subject to requisite regulatory approvals, including from Reserve Bank of India (RBI). Experian India is registered with RBI to carry on business as a credit information company, pursuant to section 5 of Credit Information Companies (Regulation) Act, 2005.
Alkem Laboratories has entered into an alliance with Haw Par India, a wholly owned subsidiary of Haw Par Healthcare, Singapore to exclusively market, sell and distribute Tiger Balm range of products in India. Tiger Balm products will be promoted by the company, an Over the Counter (OTC) division of Alkem. Tiger Balm range of products is an internationally known remedy for headaches, upper respiratory congestions, rheumatic or arthritic pains and muscular sprains.
Technofab Engineering has bagged two new orders from Power Grid Corporation of India (PGCIL) amounting to Rs 220 crore in the state of Tripura. Both orders are in the Industrial and Rural Electrification Sector and works related to 33/11 KV Sub Stations & associated lines. The orders have a timeline of 33 month for completion.
Private sector lender IDFC Bank has collaborated with fintech startup IndiaLends to enable first time borrowers who do not have a credit history to take loans. It is a differentiated personal loan solution which will offer instant loans approvals through a completely digitized process to first time borrowers. The loan requests by salaried applicants without credit history will now be processed on a real time basis.
Quess Corp (formerly known as IKYA Human Capital Solutions), a subsidiary of Thomas Cook (India), has entered into definitive agreements for acquiring Comtel Solutions, Singapore on February 06, 2017. Last year in October, Quess had entered into a binding agreement to acquire a majority stake in Comtel Solutions (Comtel), marking the company’s entry into the Technology Staffing domain in Singapore. Quess will initially acquire 64% in Comtel while the balance will be acquired in a phased manner over FY18-20.
Private sector lender HDFC Bank has gone live on Bharat Bill Payment System (BBPS) for its Net Banking for customers. HDFC Bank customers can avail of BBPS after logging onto the Net Banking page. BBPS is a centralized system created by National Payments Corporation of India involving banks and non-banks, which allows agents to access bill payments services in an interoperable manner. Customers can now pay their utility bills like electricity, gas and water bills instantly without registering the biller. Going forward, the Bank plans to make this service available for non-customers as well.