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HDFC’s Parekh expects fair regulatory response to merger with HDFC Bank

The chairman of HDFC has said that he expected regulators to take a fair and judicious view on India’s largest mortgage financier’s proposed merger with HDFC Bank, and asked stakeholders to be patient. “At this juncture, we are awaiting regulatory guidance on the path forward. We remain respectful of all our regulators and are confident that the outcome will be judicious and fair at a systemic level,” Parekh said in his note to HDFC shareholders in its annual report.

Adani plans partnership with Flipkart on sourcing and wholesale

The Adani Group and Walmart’s Flipkart are in advanced talks to expand their partnership beyond warehousing and data centers into new domains, including wholesale e-commerce and sourcing of groceries and household goods.

Puma launches mobile shopping app in India to enhance digital offerings

German sports brand Puma on Tuesday said it has launched mobile shopping app in India to further enhance digital offerings for consumers and provide quicker accessto its products.

"India is the first country to go live with the Puma app developed by the German sportswear giant," the company said in a statement.

Puma, a leading sports brand in the country, has renewed its investment in India as a high priority market with this move, it added.

Bain Capital raises $2 billion in biggest Asia special situation pool

Bain Capital LP raised $2 billion for its second special situations fund, giving it the biggest pool of capital focusing on complex and structured credit and equity investments in Asia-Pacific.

The second pool of cash is double the size of its first fund and the amount raised exceeded the $1.5 billion target, the Boston-based asset manager said. It will also receive $650 million each from separately managed accounts and its India Resurgence Fund, and a one-third contribution from its $4 billion global fund, Barnaby Lyons, global co-head of special situations, said in an interview.

Reliance Jio expands 4G services in Ladakh region near Pangong lake

Reliance Jio has expanded the reach of its 4G services in Ladakh region to a village close to Pangong lake, an area which has been a friction point between India and China in recent years.

Officials said Reliance Jio launched its 4G voice and data services at Spangmik village near Pangong lake in Ladakh.

The telecom operator became the first network to provide 4G mobile connectivity in and around the Pangong area, a popular tourist destination, officials said.

SpiceJet extends ESOP scheme to employees to recognise efforts amid

Covid SpiceJet extended its Employee Stock Ownership Plan (ESOP) scheme to mid to senior level employees and critical resource staff in recognition of their contribution to the Company in the last three years of the COVID-19 crisis.

SpiceJet already has an ESOP scheme in place for its top management.

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