SoftBank Group announces second Vision Fund worth $108 billion : Bulletin: Business Today
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SoftBank Group announces second Vision Fund worth $108 billion

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July 26, 2019

SoftBank Group announces second Vision Fund worth $108 billion, broadens investor base

SoftBank Group Corp announced on Friday a second Vision Fund aimed at investing in technology firms, saying it has secured memoranda of understanding (MOU) for about $108 billion from companies including Apple Inc and Microsoft Corp. The Japanese group itself plans to invest $38 billion in the fund

Ramdev's Patanjali gets control of Ruchi Soya after NCLT approves Rs 4,350 crore bid

After a protracted battle, the NCLT Thursday finally cleared the Rs 4,350-crore bid by yoga-exponent Ramdev-run Patanjali Ayurved to take over edible oil player Ruchi Soya, which owes over Rs 9,345 crore to the lenders & around Rs 2,800 crore to other creditors. The NCLT approval comes after it dismissed the petitions filed by Standard Chartered Bank and Singaporean lender DBS, which had both challenged the low bid by Patanjali and the resultant lower payout.

Snapdeal delivers 'fake' products; company founders Kunal Bahl and Rohit Bansal booked

The police have registered a case against Snapdeal founders Kunal Bahl and Rohit Bansal after a local Congress leader alleged that the online shopping site sent him fake products. They were booked for cheating under section 420 of the Indian Penal Code after businessman Indermohan Singh Honey complained that instead of a Woodland belt and a wallet, he was delivered fakes. Singh had acted as a spokesperson of the party during the recent Lok Sabha election campaign.

Indigo Paints plans IPO of Rs 800-1,000 crore by next year

Indigo Paints, one of the leading paint companies in the country, is planning an initial public offer (IPO) within the next 12-15 months. The IPO is likely to be an issue in the range of Rs 800-1000 crore and will offer its private equity partner Sequoia Capital, which holds 38 per cent equity, an opportunity to partially or fully exit Indigo.

PMO wants FinMin to reassess the idea of issuing overseas sovereign bonds

The Prime Minister's Office (PMO) wants the finance ministry to reassess the idea of issuing foreign currency overseas sovereign bonds, two sources with knowledge of the development said on Thursday. The office has asked the finance ministry to seek wider consultation from stakeholders before proceeding with any plans, said the sources, who declined to be identified as they were not authorised to speak to the media.

Byju's may replace Oppo on Indian cricket team's jersey

Team India cricketers may have a new brand name on their jerseys September onwards. Bangalore-based educational technology and online tutorial firm Byju's is likely to replace Chinese mobile maker Oppo on the team's jerseys. Indian cricketers may sport Oppo logo on their jerseys only till the end of the upcoming West Indies tour, which begins from August 3 and ends on September 2.

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