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Today’s Business Deals, Company Expansions, Stake Acquisitions and Corporate Actions

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Today’s Business Deals, Company Expansions, Stake Acquisitions and Corporate Actions – 13Th Feb

Goldman Sachs, Point72 and others invest $44 million in business credit startup Nav

NEW YORK (Reuters) – Nav, a startup that gives small businesses free access to their credit reports, said on Monday that it had raised $44 million from investors including Goldman Sachs Group Inc (GS.N), Point72 Ventures and Experian Ventures (EXPN.L). Read More…

R Venkataramanan to exit as managing trustee of Tata Trusts

As the managing trustee of the Sir Dorabji Tata Trust, Venkataramanan was responsible for management and oversight of the organisation.

L&T bags fresh order from a private developer

L&T Construction secured a Design and Build order for the construction of hospitals from a private developer in India. This is a first-of-its-kind private sector project that incorporates National Disaster Management Authority guidelines and will have base isolators in the foundation to withstand the worst-case seismic scenarios.

The project that will feature 37 linear accelerator bunkers has to be completed within stringent timelines of 30 months. The business has also secured another order for the construction of a hospital in Udupi, Karnataka.

At 10.20 am, L&T was trading at Rs. 1,238.50 down by 0.49%, with a volume of 0.22 lakh shares on the BSE.

T-Mobile CEO defends Sprint deal in Congress

WASHINGTON (Reuters) – T-Mobile US Inc Chief Executive John Legere defended his company’s $26 billion deal to buy rival wireless carrier Sprint Corp in Congress on Wednesday, stressing the jobs it will create and how it will benefit construction of the next generation of wireless networks. Read More..

Tech platform Smallcase raises $8 mn in Series A Funding from Sequoia India

Smallcase Technologies, the Bengaluru-based company which operates platforms for individual investors to invest in portfolios of stocks ETFs with their existing demat accounts, announced that it has raised $8 million from leading investors.

Amazon, GM in talks to invest in electric pickup truck maker Rivian: sources

(Reuters) – Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday. Read more..

Reliance Capital arm files DRHP with SEBI

Reliance General Insurance Company Ltd has filed the draft red herring prospectus (DRHP) with SEBI. RGICL is a wholly owned subsidiary of Reliance Capital Ltd. The IPO comprises a fresh issue of equity shares by the company aggregating up to Rs. 200 crore, and an offer for sale by Reliance Capital Ltd of up to 7,94,89,821 shares face value of Rs. 10.

Lupin launches Tadalafil Tablets USP

Lupin Global launched Tadalafil Tablets USP 20 mg, having got nod from United States Food and Drug Administration (USFDA) earlier.

It is generic equivalent of Eli Lilly’s Adcirca Tablets 20 mg & indicated for treatment of pulmonary arterial hypertension to improve exercise ability.

Strides gets USFDA nod for intermediate-acting synthetic drug

Strides Pharma Science announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Ltd, Singapore, has received approval for Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5%. from the United States Food & Drug Administration (USFDA). The product is a generic version of Triamcinolone Acetonide Cream of Mylan Pharmaceuticals Inc.

According to IQVIA MAT data, the US market for Triamcinolone Acetonide Cream USP, 0.025%, 0.1% and 0.5%. is approximately US$ 55 Mn. The product will be manufactured at flagship facility in Bangalore and will be marketed by Strides Pharma Inc. in the US market.

The company has 86 cumulative ANDA filings with USFDA of which 56 ANDAs have been approved including 12 approvals received in FY 19.

At 10.12 am, Strides Pharma Science was trading at Rs.405.25, down by 1.70%, with a volume of 0.39 lakh shares on the BSE.

Infosys sets up digital innovation centre in Providence, US

Infosys, like many of its peers, has been ramping local hiring in key markets like the US, the UK and Australia to tackle increasing scrutiny around work visas by various governments.

Government proposes to sell entire stake in Air India ground handling arm AIATSL

The government would offload 98 percent stake through strategic sale and the remaining 2 percent would be offered to the employees of AIATSL.

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