Business Briefs Kolte Patil Acquires ICICI Venture Funds' Stake in Pune Project
Kolte Patil Developers Friday said it is raising its economic interest in Life Republic, a project in Pune, by buying out 50 per cent ownership held by two funds managed by ICICI Venture for Rs 210 crore.
Mumbai, May 31 (PTI) Kolte Patil Developers Friday said it is raising its economic interest in Life Republic, a project in Pune, by buying out 50 per cent ownership held by two funds managed by ICICI Venture for Rs 210 crore.
The realty developer's stake in the project will go up to 95 per cent after the transaction, a statement by the realty firm said here.
The buyout amount will be paid in a structured manner and includes an earlier commitment to pay Rs 70 crore towards convertible preference shares and debentures, it said.
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* NCDEX plans to launch new commodity products
* The National Commodity and Derivatives Exchange (NCDEX) Friday said it is planning to launch a number of new products in the coming months to maintain leadership position of the bourse.
The new launches will also cement the leadership position of the exchange, which led the segment with 83 per cent market share during 2018-19, among all future commodity exchanges, a release issued here said.
The NCDEX has attained a total delivery of 6,95,990 MT across all contracts of commodities being traded on the NCDEX platform last year.
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* Goldman Sachs opens new office in Bengaluru
* Goldman Sachs has opened a new office in Bengaluru at an investment of USD 250 million (nearly Rs 1,700 crore), which will serve as a global center supporting innovation in technology and financial services.
The Bengaluru operations started in 2004 and it has over 5,000 professionals.
It is Goldman Sachs' third-largest office in the world by headcount and an integral part of the firm's global activities, especially in technology.
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* Schaeffler opens vocational skill development training centre
* Industrial and automotive component supplier Schaeffler Friday inaugurated a fully operational vocational skill development training centre in Hosur, Karnataka, under the company's technical enhancement programme STEP.
The centre has been set up to provide skill training in the fields of CNC (computer numerical control) machining and mechatronics training to the underprivileged youth, the company said in a release.
Schaeffler Technical Enhancement Program (STEP), which is run under corporate social responsibility, will be managed by the company's learning and implementation partner SkillSonics, it added.
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* Adani Electricity Mumbai offers new helpline for customers
* Power discom Adani Electricity Mumbai Friday said its customers can dial '19122' for any help.
The previous customer care number will continue for some period before being withdrawn, a statement by the company said.
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* Piramal Group launches project with 60 miniature gardens
* Piramal Group's realty arm Friday launched a project in central Mumbai's Mahalaxmi spread over four acre, which will have 60 miniature gardens.
Close to half of the project will be green space, a statement by the company said.
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* Uber ties up with Indian Oil
* Ride-hailing firm Uber Friday announced a tie-up with state-owned Indian Oil Corporation Ltd, under which its driver-partners will be able to enjoy discounts for fuelling at the latter's retail outlets.
Drivers will be given discount offers for filling petrol, diesel and CNG at IOCL petrol pumps across India, a Uber said in a statement, adding that 12,000 of them have already registered.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)