Paytm raises $1 bn in latest funding; takes valuation to $16 bn : Bulletin: Business Today
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Paytm raises $1 bn in latest funding; takes valuation to $16 bn

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November 25, 2019

PM Modi launches Fit India School grading system
Prime Minister Narendra Modi on Sunday launched the Fit India School grading system in schools across the country. The Fit India School rankings have been divided into three categories -- The Fit India Schools, which is the first level of ranking, Fit India School (3 star) and Fit India School (5 star). The level of ranking will depend on how much importance the school gives to inculcating fitness among its students and teachers, besides facilities available for fitness activities.

Paytm raises $1 bn in latest funding; takes valuation to $16 bn
Paytm has secured $1 billion in its new financing round taking its valuation to $16 billion. The latest funding led by US-based asset management firm T Rowe Price has cemented Vijay Shekhar Sharma-led company's position as India's most-valued startup. This is the largest amount raised by an Indian startup this year. T Rowe Price, along with Discovery Capital and D1 Capital put in about $400 million, while existing investors SoftBank and Ant Financial put in $200 million and $400 million respectively.

RIL, Airtel expected to bid for Anil Ambani-led RCom
Reliance Industries (RIL) and Bharti Airtel are likely to bid for the assets of debt-ridden Anil Ambani-led Reliance Communications (RCom) and its related companies on Monday. The RCom committee of creditors (CoC) is also scheduled to meet on November 25. The bids close on Monday and the committee would open the bids for discussions on the same day.

BSNL employees to go on strike today, allege company of forcing VRS
BSNL employee unions have alleged that the management is forcing personnel to opt for voluntary retirement scheme (VRS) by creating a fear psychosis and have called for pan-India hunger strike on November 25. The unions, representing more than half of BSNL employees, have alleged that the management is threatening employees of reduction in retirement age to 58 years and far away postings if the employees don't opt for VRS.

Saudi Aramco markets IPO in Dubai after approaching Kuwait fund
Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait's sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional buyers. Top executives of the Saudi state-owned oil giant, including Aramco's Chief Executive Amin Nasser, met officials of Kuwait's sovereign wealth fund weeks ago.

Delhi's Khan Market in top 20 most expensive retail locations in world: report
Delhi's posh 'Khan Market' has made its entry into the list of world's top-20 most expensive retail locations in the world, according to global property consultant Cushman & Wakefield. In its latest report 'Main Streets Across the World 2019', Khan market is ranked 20th with an annual rent of $243 (Rs 17,445.60) per sq ft.
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