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Global investment firm Blackstone has bought a majority stake in Aadhar Housing that caters to the housing financing needs of low-income households. Blackstone has bought 97.7 per cent stake in Aadhar for about $314 million (Rs 2,200 crore). Blackstone announced that private equity funds managed by Blackstone have acquired a 97.7 per cent stake in Aadhar Housing Finance Ltd, including the entire stake held by existing controlling shareholders, Wadhawan Global Capital Limited (WGC) and Dewan Housing Finance Limited, it said [...]

Capgemini, a global leader in consulting, technology services and digital transformation, launched its Digital Academy initiative in India. The programme focuses on digital inclusion aimed to reintegrate a wide range of people from marginalised backgrounds. The India launch is part of Capgemini’s global program in digital inclusion to train excluded populations to use the best digital tools and facilitate their integration within the society of today and tomorrow. The beneficiaries of the initiative include disadvantaged youth who are NEET (not [...]

Ride-hailing company Ola announced plans to set up a first of its kind Advanced Technology Centre (ATC) in San Francisco as it looks to build a team of over 150 engineers in the Bay Area to help ramp up its engineering and development operations. With the sole focus on development of new tech capabilities and innovation in urban mobility, Ola’s Advanced Technology Centre in the United States will look to onboard talent who will collaborate closely with global teams in [...]

Dairy FMCG company Parag Milk Foods said it has launched its farm-to-home premium milk brand 'Pride of Cows' in Singapore. The company claimed to be the first Indian company to sell fresh milk in Singapore. It is airlifting the milk from its dairy farm, located in Manchar, near Pune to Singapore. Pride of Cows will initially be available through various home delivery platforms. Devendra Shah, Chairman, Parag Milk Foods, said in a statement: "A typical Pride of Cows consumer has [...]

India’s Reliance Industries Ltd (RIL) and partner BP said they would start developing a third gas field off India’s east coast. The Reliance and BP consortium, in which BP has a 30 per cent stake, is already developing two gas blocks off India’s east coast. Reliance said the three projects, developing 3 trillion cubic feet (tcf) of discovered gas, would cost $5 billion (Rs 350 billion) to develop and could produce about 30 million standard cubic meters of gas per [...]

India and France have signed an agreement under which the French Railways will help develop Indian railway stations. The Indian Railway Station Development Corp (IRSDC) entered into a tripartite agreement with French Railways earlier this week. Under this pact, French development agency AFD will provide an in-kind grant of up to €7,00,000 through French National Railways-Hubs and Connexions as a technical partner to IRSDC to support the railway station development programme in India, a press statement said. The statement added: [...]

KriGen Pharmaceuticals, a young India-based pharmaceutical company, is investing $7 million and hiring 100 employees at its new manufacturing facility and quality control lab in the Harnett County community of Lillington, about 30 miles south of Raleigh. The 55,000-square-foot site is being designed to manufacture a variety of sterile liquid injectable products for hospital and clinical use, using current good manufacturing practices (cGMP) to ensure safety and effectiveness. Dhruvkumar Patel, Chief Financial Officer, KriGen Pharmaceuticals, said: “The vision of KriGen [...]

The Abu Dhabi Investment Authority (ADIA) has inked an investment deal with India’s largest green energy company, Greenko, to make an additional equity investment in the company. The move comes soon after ADIA stepped up investments in Indian renewable energy company ReNew Power. Hyderabad-based Greenko announced the signing of agreements with ADIA and Singapore-based sovereign wealth fund GIC to raise $495 million in equity investments in the company. Greenko’s equipment investment deal with the two funds is one of the [...]

IT major Wipro said it will acquire US-based International TechneGroup Incorporated (ITI) for $45 million (around Rs 312 crore). Founded in 1983 and headquartered in Ohio, USA, ITI has offices in the UK, Italy, Israel and Germany. It provides Computer Aided Design and Product Lifecycle Management interoperability software services. ITI is privately held and has 130 employees as of March 2019. Its revenue stood at $23.2 million in FY18 (year ending June 30). Harmeet Chauhan, Senior Vice President, Industrial and [...]

With incipient regulatory changes in China on Indian drug imports, Dr Reddy's Laboratories has identified about 70 products for the country to be launched in a few years and is also planning to build a new plant very close to the existing one. Erez Israeli, COO, Dr Reddy's, said the drug-maker is in the process of seeking necessary approvals from Chinese authorities for selling drugs including in oncology area there and is upgrading professional teams for the growth. He said: [...]