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Zomato board to sign off Blinkit acquisition on June 17

The Zomato board will meet on June 17 to sign off the acquisition of quick commerce company Blinkit, according to two sources close to the developments.

Although the deal discussions earlier valued Blinkit at $700 million, the value of the final deal is expected to come down as it involves a stock swap of a definite number of shares in the ratio of 1:10 where Zomato would get 10 shares of Blinkit for every one of its shares.

Kolte Patil Developers, Tata Power partner to ease EV adoption, drive sustainability

Tata Power announced on June 6 that it has partnered with Punebased Kolte-Patil Developers (KPDL) to set up charging stations across the realty company's projects in Pune, Mumbai and Bengaluru to provide charging solutions for electric vehicle (EV) owners

Tata Power will offer EV charging facilities to residential customers of KoltePatil Developers, which is expected to further ease their e-mobility journey, according to a company statement.

Through the partnership, Kolte Patil Developers and Tata Power aim to push wider green mobility adoption, EVs and charging infrastructure to mitigate climate change challenges in the urban mobility space, the companies said in the release.

Physis Capital hopes to start investing in promising startups by Oct

Venture capital fund Physis Capital expects the first closure of at least USD 10-15 million from investors over the next four months and reach its target of USD 50 million in one year, while deployment of capital into promising startups could begin as early as October this year, a top official said. CXO-driven angel investment platform Inflection Point Ventures (IPV) had announced its fund Physis Capital earlier this year to invest in startups looking to raise Pre Series A to Series B capital. The fund, which aims to build a portfolio of 15-20 startups with minimum ticket size of USD 2 million, has recently received approval from Securities and Exchange Board of India (Sebi).

SpiceJet says 90 barred pilots to undergo re-training after DGCA slaps fine

Low-cost airline SpiceJet on Monday said that 90 barred pilots will undergo re-training after the Directorate General of Civil Aviation (DGCA) imposed a Rs 10 lakh fine on the carrier. The domestic aviation regulator had recently fined the carrier for training pilots on faulty simulators. The DGCA had barred 90 SpiceJet pilots from operating the Boeing 737 Max aircraft, and those pilots were subjected to retraining on 737 Max simulators.

NMDC shareholders to discuss Nagarnar Steel Plant demerger on Tuesday

Steel ministry will convene a meeting of shareholders and creditors of stateowned NMDC on Tuesday to expedite the process of demerging the company's under construction Nagarnar Steel Plant (NSP). The Centre is aiming to complete the demerger of NSP from MMDC within the next four to five months, according to an official document.

NMDC is setting up a 3 million tonne per annum (mtpa) steel plant at Nagarnar, near Bastar in Chhattisgarh. The unit is being constructed over an area of 1,980 acres at an estimated cost of Rs 23,140 crore.

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