Bullets

Torrent Pharmaceuticals is in early discussions with Apollo Global Management for a $1 billion loan to bid on a 33.4% stake in Cipla. 

They're also considering partnerships with CVC Capital Partners and Bain Capital for up to $1.5 billion in funding. 

Apollo may acquire part of Cipla's stake as succession concerns loom with the senior age of Cipla's top leadership.

To know why investing in the pharmaceutical industry is not always the right idea, check this article.

A huge relief to the Over-The-Top (OTT) players!

The Department of Telecommunications (DOT) has removed OTT platforms from the list of Telecommunication Services in the Telecom Bill. Hence, OTTs won’t be regulated similarly to telecom services.  

Apps like Whatsapp, Telegram, and Signal will be regulated differently than telecom services as per the existing Indian Telegraph Act. 

MeitY will regulate OTT platforms, whereas broadcasting apps like Netflix will fall under the Ministry of Information & Broadcasting (MIB) jurisdiction.

The Ministry of Electronics & Information Technology (MeitY) plans to add a section for OTT regulation in the Digital India Act. Read here to know what else would be a part of the new act.

India is set to implement gradual customs duties on telecom components to discourage imports and bolster domestic manufacturing. 

The Department of Telecommunications is contemplating a 10% import duty starting in January, which will escalate to 15% by October the following year. 

This initiative aligns with the government's Phased Manufacturing Programme, strategically fostering local production and adding value to the telecom sector.

This move signifies India's determined push toward self-reliance and growth in the telecommunications industry.

Learn about a lesser-known telecom company with great investment potential here.
 

Foxconn, the Taiwanese contract manufacturer known for making iPhones, plans to double its workforce and investment in India by next year. 

While specific details are yet to be disclosed, Foxconn already operates a significant factory in Tamil Nadu with over 40,000 employees. 

The company is also exploring opportunities in the electric vehicle (EV) sector, indicating a broadening of its business horizons in India.

Is Foxconn's expansion a sign of India's growing importance in the global tech and EV markets?

Meanwhile read about Google Vs Indian Startups here.
 

Vodafone Idea paid ₹ 1,701 crore as the second annual spectrum instalment to the Department of Telecommunications (DoT). The amount was paid for the 5G Spectrum worth ₹18,799 crore VI acquired last year.

VI has opted to pay this due to the government in 20 equal instalments. The first instalment of ₹1,680 crore was paid in August 2022.

Interestingly, Vodafone Idea is the only operator that hasn't yet provided 5G services.

Read here about an underdog company in the telecom sector with many opportunities for investors.

India's largest bank, State Bank of India (SBI), plans to raise approximately ₹10,000 crore through 15-year infrastructure bonds next week to secure long-term capital. 

These bonds are expected to carry AAA ratings from ICRA and India Ratings, with issuance scheduled for September 22. 

The anticipated coupon rate falls in the range of 7.45-7.50%, offering a competitive spread over similar benchmarks.

SBI's move represents a strategic step toward strengthening the nation's infrastructure and securing long-term capital.

Meanwhile, to decode the business of IDFC First Bank, click here.
 

The UK government has agreed to provide Tata Steel with a grant of 500 million pounds. The company has also received a green light for an investment of 1.2 billion pounds to improve infrastructure at Port Talbot.

The motto of this deal would be to present Tata Steel with capital to boost ecologically sustainable steel production.

It would be interesting to witness Whether Tata Steel can overcome current challenges in its UK division with this investment.

Interested in more world news? Read here to know who will replace the Dollar for the prime position in the currency’s market.

SpiceJet has successfully made a $1.5 million payment to Credit Suisse, meeting its obligation following a Supreme Court directive. 

The court had recently issued a stern warning to SpiceJet's Chairman and MD, Ajay Singh, for failing to fulfil payments to Credit Suisse AG, even hinting at the possibility of jail time for non-compliance.

This payment by SpiceJet signifies a critical step in resolving the dispute, but it raises questions about the airline's financial stability and ongoing legal challenges.

To know why Airline industries are always struggling, click here.
 

NavIC (Navigation with Indian Constellation), the Made-In-India navigation system, would be mandated by the government for all smartphones by December 2025.

MeitY minister Rajeev Chandrasekhar said that the smartphones could either give support for NavIC-powered chips or use NavIC chipsets. NavIC is currently used in some mobile devices, cars, and by the Indian military.  

Tech giant Apple supports the NavIC protocol by including it in several iPhone15 models.

Know what other actions MeitY is undertaking for the benefit and security of Indian citizens by reading this article.

Classic Legends, backed by Mahindra & Mahindra, is set to invest ₹1,000 crore by FY26. 

The aim is to make a mark in India's mid-weight lifestyle motorcycle market and cater to the growing demand abroad. 

The funds will go into various areas like product development, marketing, distribution networks for global markets, and more. This financial boost will come from internal sources, existing stakeholders, and external investors.

Is this the road to Classic Legends' triumph in the world of classic motorcycles?

Click here to read about another automobile company that was in news recently.
 

Isha Ambani-headed Reliance Retail is planning a $3.5 billion fundraising in which $1.25 billion by Qatar Investment Authority and $250 million by KKR is collected. Now, they are looking for a fresh $1.5 billion infusion.

Along with the investors, parent conglomerate Reliance Industries Ltd. will also contribute to this investment.

This investment will raise Reliance Retail’s valuation. Looks like competitors will have to crane their necks further to lock eyes with Reliance Retail.🤔

RIL’s retail unit is not the only one with robust future plans. Read here what Reliance Industries has in store for the next step in world domination.

Byju's is once again in the spotlight amid allegations that it concealed $533 million in a little-known hedge fund from three years ago. 

Lenders seeking to recover the funds are at the centre of this dispute, claiming that this money serves as collateral for a $1.2 billion loan. 

According to Bloomberg, Byju's reportedly transferred over half a billion dollars to the Camshaft Capital Fund in 2022.

Is this a strategic move or a potential financial pitfall for Byju's?

For all the details about the company, click here.
 

TP Solar, subsidiary of Tata Power Renewable Energy is securing ₹3,521 crore from the US International Development Finance Corporation (DFC) for a new 4.3 GW solar manufacturing plant in Tamil Nadu, India. 

Tata Power aims to become a customer-focused energy solutions company, investing in solar modules, EV chargers, and energy management solutions. 

This venture is set to generate jobs for approximately 2,000 individuals.

Is this the turning point in Tata Power's journey towards sustainable energy dominance? 🧐

Curious about Solar Industries, a company unrelated to solar energy? Click here to learn more.
 

Google is having a rough start to the week as it faces legal fronts from two sides simultaneously: the DOJ’s Antitrust Trial in the USA and litigation for violating privacy laws in the Netherlands.

As per media outlets, Google has been monopolising the internet for a decade by spending $10 billion annually.

Google has faced several trials for the exact charges, but this time may prove difficult for the tech giant. The trial’s outcome will change history.

Read here to know how the ultimate fight between Indian Startups and Google went down.

Byju's finally plans to repay its $1.2 billion term loan B within six months. 

It aims to pay $300 million in the next three months, with the rest following. 

The company is selling key assets, Epic and Great Learning, to raise cash, potentially generating up to $1 billion. 

Byju's is working with bankers to find strategic investors for the assets and is also seeking fresh equity capital.

To know all that is happening with Byjus, click here.
 

Reliance Retail Venture Ltd. (RRVL) received an investment of ₹2,069 crore from global investment firm KKR (Kolkata Knight Riders), raising its stake from 1.17% to 1.42%.

The investment is made through an affiliate, translating into an equity stake on a fully diluted basis. KKR invested ₹5,550 crore in 2020 in RVNL and is also an investor in Jio Platforms Ltd. with ₹11,367 crore.

RRVL’s valuation reached ₹8.36 lakh crore with this follow-on investment.

Along with its retail unit, Reliance Industries has many plans in motion for the future. Click here to learn how those plans might affect your investments.

US boutique investment firm GQG Partners has further increased its position in IDFC First Bank following a recent acquisition of a 2.6% stake worth ₹1,527 crore on September 4. 

In today's block deal, 0.8% of the company's stake, equivalent to around 5.1 crore shares, changed hands at an average floor price of ₹94.50 offering a nearly 1% discount from the previous Friday's closing stock price of Rs 95.35.

Meanwhile, to decode the business of IDFC First Bank, click here.
 

USA-firm Coinbase sent an email on Sunday to all its users to withdraw their funds as they will be closing doors in India. Both the website and app will be accessible till September 25, 2023.

Coinbase entered India in April 2022, allowing users to buy crypto using UPI. However, the regulators created a huge obstacle, leading to disabling the service. 

The clearing of all action from the US crypto firm was a long time coming.

While discussing ends, do you think the rise in UPI affects our favourite toffee industry? Read here to know how!

India is ready to lead the G20 Summit as world leaders arrive in New Delhi. Personalities like US President Joe Biden, French President Emmanuel Macron, and UK Prime Minister Rishi Sunak will participate actively with multiple others.

The summit will be held at Bharat Mandapam Convention Centre on September 9th and 10th. 30 heads of state, 14 heads of international organisations and top European Union officials will participate in the summit.  

World Climate, Economy, Defence, Trade, Investment, etc. will be discussed.

Whisper of a discussion to establish a railway line connecting India with the Middle East and Europe is spreading. Know which company is helping boost India's railway sector here.

Following a recent ₹100 crore investment from Nikhil Kamath of Zerodha, Nazara Technologies is now set to secure ₹410 crore from SBI Mutual Fund. 

Nazara Technologies will secure the investment from SBI Mutual Fund via three schemes: SBI Multicap Fund (₹200 crore, 3.82% stake), SBI Magnum Global Fund (₹120 crore, 2.29% stake), and SBI Technology Opportunities Fund (1.72% stake). 

The total stake acquired by SBI Mutual Fund will be 7.83%. 

Meanwhile, to know more about another player in this industry, check this article.