Hike Messenger raises $175 million
New Delhi
Messaging platform Hike Messenger on Tuesday said it has raised $175 million in a new round of funding led by Tencent Holdings and Foxconn Technology Group, valuing the company at about $1.4 billion. This is the fourth venture capital round and the biggest to date for Hike, a company founded by Kavin Bharti Mittal, son of Bharti Enterprises Chairman Sunil Mittal. TNS
New Delhi
IOC to raise Rs 12,000 cr via bonds
Indian Oil Corp, the nation’s biggest oil company, plans to raise Rs 12,000 crore through a bonds issue to meet its capital expenditure needs. The company plans to raise Rs 12,000 crore from domestic as well as overseas market through private placement of bonds. PTI
New Delhi
Exemption for masala bonds
Issuers of rupee-denominated bonds, also known as masala bonds, will not have to comply with certain rules under the companies law. In this regard, Corporate Affairs Ministry has issued a notification — which would also provide more clarity on the regulatory framework for rupee-denominated bonds. PTI
New Delhi
JSW Steel buys JSW Praxair Oxygen
Sajjan Jindal-led JSW Steel on Tuesday said it will acquire 74% stake in JSW Praxair Oxygen Pvt Ltd (JPOPL) for Rs 240 crore in cash. JPOPL produces industrial gases such as oxygen, nitrogen and argon. PTI
London
Unilever enters air purifier business
FMCG giant Unilever on Tuesday said it will acquire Sweden-based air purification solutions provider Blueair for an undisclosed sum to foray into air purifier segment. “Launched in 1996 in Stockholm, Blueair had a turnover of $106 million in 2015 and is a leading player in the premium category of air purifiers in markets like China, the US, Japan, South Korea and India,” Unilever said. PTI
