IRB Infra announces receipt of first tranche of Rs 3,753 cr from GIC

Developers on Tuesday said its private infrastructure investment trust recieved the first tranche of investments from Singapore’s GIC, worth Rs 3,753 crore.

“IRB announces receipt of the first tranche of the Investment of Rs 3,753 crore from affiliates out of its commitment of Rs 4,400 crore by Trust,” the company said in its statement.

The remaining about Rs 650 crore, the company said will be invested in the progress of construction of the under-construction projects.

will make these investments in lieu of units in a private infrastructure investment trust (InvIT) that has floated.

The allotment of units, the company said, will happen by February 27th, 2020. “Post the allotment of units, IRB will hold 51 per cent and affiliates will hold 49 per cent stake in the Private InvIT,” according to IRB’s media statemnet.

As part of the transaction, IRB will transfer 9 of its build operate transfer (BoT) Road assets into a Private InvIT in which IRB will hold a controlling stake of 51 per cent. The Portfolio spans across 5,900-km in Haryana, Uttar Pradesh,

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With 6 airports already in folio, Adani turns to Air India

The Adani group, which has already won the bid to manage 6 airports, is now all set to join the race of acquiring the state-run airline – And for this, the conglomerate is planning to submit an expression of interest (EoI) by next month, disclosed a source close to the development.

However, the final decision depends on the outcome of the due diligence post submission of the EoI. Since, after the EoI process only prospective bidders will get access to airline data.

The is not the only one interested in this complex deal. The Tata group, the Hinduja group, and a New York-based fund, Interups, are also expected to submit their EoIs. The deadline of submitting the EoI is 17th March.

This is the second attempt made by the Centre to sell the airline after it failed to receive interest in the first round last year.

As a matter of fact, sale of to a private player is important for the central government as it has had to pump in Rs 30,000 crore of tax payer’s money into the airline

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Govt likely to extend March 17 deadline to submit bid for Air India

The government is likely to extend the March 17 deadline for submitting bids to buy 100 per cent stake in and the Home Minister led inter-ministerial panel will later this week decide on the new date.

Interested bidders can now have access to the “virtual data room” of Air India, officials said adding that more queries are expected to come in, which would be clarified by the Transaction Advisor and the Ministry of Civil Aviation.

The government has already extended the deadline for bidders to raise queries on the proposed strategic sale of to March 6 from February 11.

Officials told PTI that the ministerial panel on would meet later this week and decide on the new date for submission of Expression of Interest (EoI) by interested bidders.

The interested bidders can now get access to the virtual data room, which would also have the draft share purchase agreement (SPA), by paying a non-refundable fees of Rs 1 crore.

The ministerial panel – Air India Specific Alternative Mechanism (AISAM)- is headed by Home Minister Amit Shah and comprises Finance

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HDFC Bank aims to become go-to bank for start-ups with grants, platforms

aims to be a dominant and go-to bank for startups, a key official said on Tuesday.

Close to 9,000 are currently banking with HDFC Bank, said Smita Bhagat, Country Head, Government & Institutional Business, e-commerce and start-ups,

Officials said the bank now has dedicated “SmartUp” zones in 70 branches in 30 cities across India.

“Through the SmartUp programme, we are already engaging with the start-up community to partner with them in their entrepreneurial journey using smart financial tools, advisory services and technology”, Bhagat told reporters here.

“We also have a platform where the can register themselves and sell their products to our own customers”, she added.

on Tuesday disbursed SmartUp grants totalling Rs 5 crore to 20 in Bengaluru working in the social sector.

This takes the total tally to more than 60 start-ups who have been been given a total grants of Rs 14 crore over the past three years.

“We hope to take this number (number of start-ups awarded grants) to 100 by the end of the next financial

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Apollo Hospitals starts voice app on Alexa for booking doctor appointments

has announced the launch of Amazon Skill-Ask Apollo, a voice-based app that helps users find the nearest hospital, clinic or run by the group and book appointments with using simple voice commands.

Developed by MobiSprint Consulting, the Ask Apollo app would give users access to over 3,500 super-specialty and multi-specialty at 72 in the country. It would also enable users to choose their preferred Apollo clinics, besides providing access to over 3,500 pharmacies.

Once enabled, the app would allow users to interact with using voice commands on all Echo range of devices. It can be accessed via the app available on iOS and Android.

“Mass adoption of artificial intelligence by people has fuelled the shift towards voice applications. IoT devices have given voice assistants greater utility in a connected user’s life. With our skill, Apollo Hospitals has become the first and largest healthcare group in India to power voice-assisted hospital search and appointment booking. We will be adding more features to the skill in the near future,” Apollo Hospitals Group joint managing director Sangita Reddy.

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Samsung Galaxy M31 launched in India, price starts from Rs 15,999

on Tuesday launched its new smartphone Galaxy M31 in India starting from Rs 15,999.

Galaxy M31 is the newest addition to the popular Galaxy M series. Till date, the company has launched six models – Galaxy M10, M20, M30, M40, M10s and M30s – under the M series in 2019.

“We now bring Galaxy M31 keeping in mind the needs and aspirations of our young millennial consumers,” Asim Warsi, Senior Vice President, Mobile Business, India said in a statement.

The smartphone will come in two memory variants, 6/64GB priced at Rs 15,999 as well as 6/128GB for Rs 16,999 and will be available at, com along with select retail stores from March 5, 12 noon.

The phone is equipped with 6.4-inch super AMOLED display and features quad-camera setup — 64MP Main Lens, 8MP Ultra-Wide Lens, 5MP Macro Lens and 5MP depth lens. There is also a 32MP front camera.

The device is powered with the Exynos 9611 upto 2.3GHz Octa Core processor and will run on Android 10 out of the box with Samsung’s new One UI 2.0.


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