Amazon to start device manufacturing line in India

New Delhi

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Amazon on Tuesday said it will begin manufacturing Amazon Devices, including Fire TV sticks, in Chennai later this year in partnership with Foxconn’s subsidiary, Cloud Network Technology. While it did not share details of the capacity or investment for the project, Amazon said it will continuously evaluate scaling capacity to additional marketplaces/cities depending on the domestic demand. PTI

New Delhi

RailTel IPO subscribed 2.64 times on first day

The IPO of telecom infrastructure provider RailTel Corporation of India was subscribed 2.64 times on the first day of subscription on Tuesday. The Rs 819.24-crore offer received bids for 16,13,74,220 shares as against 6,11,95,923 shares on offer, as per an update on the NSE. PTI

New Delhi

Mastercard, Razorpay in pact for small businesses

Global payments solution major Mastercard on Tuesday said it has partnered with fintech player Razorpay to drive digital payments acceptance by small businesses and start-ups in the country. The partnership will empower Indian micro, small and medium enterprises in digitising their operations. PTI

New Delhi

Unacademy acquires majority stake in TapChief

Edtech major Unacademy on Tuesday announced acquisition of majority stake in professional networking platform TapChief. As part of the deal, Unacademy will acquire a majority stake in TapChief, and enable the exit of all existing investors, a statement said. PTI