Tag: Companies

KKR has acquired a 20% stake in SingTel's regional data centre business for S$1.1 billion (US$806.87 million). The deal values SingTel's regional data centre business at S$5.5 billion (US$4.03 billion) and the proceeds will be used to expand the data centre business across Southeast Asian markets, including Singapore, Indonesia and Thailand. The deal comes amid growing global investors' demand for infrastructure assets across Southeast Asia, lured by the region's growth prospects and the sector's stable and long-term returns.

HDFC Bank and CreditWise Capital have partnered to extend two-wheeler loans in Tier 2, 3 and 4 towns of India. The partnership will combine the strengths of the two companies to make two-wheeler loans more accessible and affordable for people in these towns.

SAP India, the Indian arm of German software giant SAP SE, is planning to double its share of global SAP patents and add 3,000 jobs per year as it bets bigger on artificial intelligence (AI). The company is also committed to responsible AI development and is working with governments and regulators to ensure that AI is used in a safe and ethical way.

Mahindra Holidays to invest Rs 1,000 crore in Uttarakhand's tourism sector. The company will develop 4-5 new resorts under its flagship brand Club Mahindra in Jim Corbett, Mussoorie, Kanatal, and Binsar. The investment is expected to create over 1,000 direct and indirect jobs in the state.

Salesforce CEO Marc Benioff has said that the company's growth in India has exceeded all expectations. He also praised the Indian government's approach to regulations in the tech sector. Salesforce has over 9,000 employees in India and is committed to investing in the country.

Adani Wind, a subsidiary of Adani Enterprises, has received type certification for its 5.2 MW wind turbines. The turbines are India's largest and will be manufactured in India. The certification is a boost to Adani's plans to make India a global manufacturing hub for renewable energy equipment.

Gati expects 18-20% increase in festive season demand, particularly in e-commerce and white goods segments. The company has enhanced its warehousing and service delivery capabilities to meet the expected surge in demand. It has also set up Express Distribution Centres across the country. Gati is confident of meeting the expected demand during the festive season.

TPG, a US-based private equity firm, is planning to cut its stake in RR Kabel through an IPO. The IPO price band is set at Rs 935-1035 per share, which is nearly four times that of TPG's initial investment. If TPG sells all of its shares in the IPO, it could potentially quadruple its investment returns. The IPO is scheduled to open for subscription on September 13 and will close on September 15.

Indorama Ventures, a global chemical company, is investing USD 150 million in three PET recycling plants in India. The plants are expected to start commercial production in 2026. The recycled PET from the plants will supplement Indorama Ventures' current 800,000 tonne/year PET production for the Indian and export markets. Indorama Ventures CEO Aloke Lohia said the investment is in line with the company's commitment to sustainability and its goal of reducing the use of fossil fuels in the production of new products.

Capital A, the parent company of AirAsia, is bullish on the Indian market and is looking to expand its operations in the country. The company has already sold its Indian airline subsidiary to Tata Group, but it is still working with the conglomerate and hopes to do more business with them.