Bhushan Steel to raise Rs 547 cr through private placement

New Delhi
Debt-laden steel maker Bhushan Steel on Wednesday said it will seek shareholders' nod to raise up to Rs 547.50 crore through private placement of shares to meet fund requirements of the company. The company will approach its shareholders with the special resolution at its AGM scheduled later this month, it said. PTI

New Delhi
SAIL to spend Rs7,500 cr on modernisation, expansion

Steel giant SAIL on Wednesday said it will spend Rs 7,500 crore on modernisation and expansion programme in the current fiscal ending March 2016. The PSU also said it will seek shareholders nod to raise Rs 5,000 crore through securities to part finance its plans. PTI

New Delhi
Snapdeal acquires Silicon Valley startup Reduce Data

Snapdeal has acquired Reduce Data, a Silicon Valley startup, for an undisclosed amount to strengthen its discovery platform as the e-commerce major competes head-on with giants like Flipkart and Amazon. Reduce Data has a programmatic display advertising platform that leverages artificial intelligence, real-time data and other tools. PTI

Mumbai
Ratan Tata invests in startup Holachef

Chairman emeritus of Tata Sons Ratan Tata has made a personal investment of an undisclosed amount in the online marketplace for chefs Holachef. Launched in September 2014 by Saurabh Saxena and Anil Gelra, Holachef has seen substantial growth in Mumbai and Pune, it said. PTI