12/5/22, 8:28 PM Business affairs 2022 Part 2 – GKmojo

GKmojo
Protected: Business affairs 2022 Part 2

1. Zomato (Online food delivery platform) has announced the acquisition of Blink
Commerce (Blinkit), earlier known as Grofers India.

2. Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power, has

accomplished a remarkable feat commissioning India’s largest floating solar power
project in Kayamkulam, Kerala.

3. Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, a global financial
services conglomerate, has launched Har Time EMI On Time, a digital campaign to
raise awareness about the importance and advantages of good financial habits for a
secure financial future. The campaign aims to inform the general public about the
advantages of paying their monthly loan EMIs on time, as well as the long-term
consequences of missing payments on their overall financial health.

4. Tata Projects will build the national capital region’s new airport at Jewar,
after outbidding the Shapoorji Pallonji Group and Larsen & Toubro for the contract.

5. Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors

Ltd, and Ford India Private Limited (FIPL) have signed a Memorandum of
Understanding (MOU) with the Government of Gujarat (GoG) for the potential
acquisition of FIPL’s Sanand vehicle manufacturing facility

6. Ruchi Soya, an edible oil company, has announced that it will buy Patanjali Ayurved’s
food division for Rs 690 cr, and 1% of the gross turnover of agreed items.

7. Adani Group which belongs to Gautam Adani is set to acquire swiss multinational
company Holcim’s stake in Indian companies Ambuja Cements and its subsidiary
ACC for $10.5 bn (around Rs 81,361 crore), including the open offers.

8. Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and AXA
announced the launch of its financial literacy campaign, ‘InspiHE₹’.

9. Reliance Industries become the first Indian company to record annual revenue of
more than a whopping $100 billion.

10. L&T Infotech and Mindtree, the two independently listed IT services companies
under Larsen & Toubro Group announced a merger that would create India’s fifth-largest
IT services provider

11. Adani Wilmar Limited became the largest Fast Moving Consumer Goods Company
(FMCG) in India beating Hindustan Unilever Limited (HUL).

12. Jeff Bezos, who established Amazon exactly 27 years ago on July 5, 1994, has stepped
down as CEO, and Andy Jassy, has taken over as the company’s new CEO.

13. The Tata Group has been attempting to improve Air India’s performance since its
takeover in January 2022. That includes its on-time performance. The Tata’s most recent
job is to consolidate their aviation operations. The Competition Commission of India
(CCI) has already been notified of Air India’s intention to merge with AirAsia India.

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12/5/22, 8:28 PM Business affairs 2022 Part 2 – GKmojo

14. NPCI International Payments Ltd (NIPL), the International arm of the National Payment
Corporation of India has announced that BHIM UPI is now live at NEOPAY terminals,
across the UAE.

15. Multiplex companies INOX Leisure Ltd and PVR Ltd have announced the merger of
their two companies.

16. Ola, an Indian ride-hailing startup, has agreed to acquire neo-banking platform Avail
Finance in order to expand its financial services offering.

17. Govt. increased timeline to 10 years for startups for converting debt
investment into equity
According to a news release from the DPIIT, the government has extended the deadline
for companies to convert debt financing into equity shares up to 10 years, a measure
that is likely to provide comfort to emerging enterprises dealing with the impact of the
Covid-19 pandemic. Previously, convertible notes may be converted into equity shares for
up to five years after the initial convertible note was issued. That time frame has now
been increased to ten years.

18. HDFC Mutual Fund has launched a women-led financial empowerment initiative
‘LaxmiForLaxmi’ which will connect women, investors, to a woman financial expert.

19. Tata Motors has launched a mobile showroom (showroom on wheels) named
‘Anubhav,’ to target rural customers increasing their reach in rural areas.

20. Jio Platforms has picked up a 25% stake in US-based deep-tech startup
company TWO Platforms for $15 million. Two Platforms is an artificial reality
company that focuses on building interactive and immersive AI experiences.

21. Sony Group Corp. is purchasing Bungie Inc., the U.S. video game developer behind the
popular Destiny and Halo franchises, for $3.6 billion to bolster its stable of game-making
studios.

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