Daily Archives: February 7, 2019
Amazon has restructured its stake in holding companies of both Cloudtail and Appario Retail to be compliant with updated norms. Infosys co-founder N R Narayana Murthy’s investment firm Catamaran has increased its stake in Prione Business Service, the holding company for Cloudtail, to 76% from 51%. Similarly, the Ashok Patni family office will also hike stake in Appario parent Frontizo Business Service to 76%.
Jio, the telecom arm of India’s most valued company Reliance Industries (RIL), recently said it was spinning off tower and fibre into two separate entities, as part of an anticipated de-leveraging exercise. RIL is keen on retiring and refinancing a chunk of its Rs 3 lakh crore, or $40 billion, debt mostly soaked up to finance Jio’s disruptive roll-out.
The enhancement, which depend on the land holdings of the farmer, will enable 75% of the eligible farmers raise money without any security. Collateral-free loans help small and marginal farmers who do not have any assets that can be offered as security.
The government has no intention of throwing a spanner in the All India Tennis Association’s (AITA) plans to make its Davis Cup team members travel to Pakistan in their bid to re-enter the World Group qualifiers.