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AstraZeneca India gets regulator's approval to market anti-diabetes drug

Drug firm AstraZeneca India on Tuesday said it has received approval from the country's drug regulator to market anti-diabetes medication Dapagliflozin.

The company said it has received approval from the Central Drugs Standard Control Organization (CDCSCO) for the drug indicated for diabetes patients with chronic kidney disease (CKD).

Flipkart to go for $700 million ESOP buyback during PhonePe funding: Report

As part of PhonePe's new financing round, Flipkart is likely to go for a $700 million employee stock buyback. In this round, PhonePe is expected to raise $1.5-2 billion and the round will be led by Walmart, a report in the Economic Times (ET) said.

The round will readjust Flipkart's valuation from $37.6 billion to $33 billion and PhonePe will have a separate shareholding structure. Currently, PhonePe, valued at $5.5 billion, is categorised as an asset in Flipkart's valuation, the report added.

SBI board approves raising Rs 10,000 crore via infrastructure bonds

State Bank of India (SBI) approved raising Rs 10,000 crore through infrastructure bonds during the financial year 2023, the lender said in an exchange filing.

"Raising Infrastructure Bonds up to an amount of Rs. 10,000 crores (including a green shoe option of Rs. 5,000 crores) through a public issue or private placement, during FY23," the release said.

Adani Group clinches Dharavi redevelopment project with Rs 5,069-crore bid

Adani Group has won the bid for the redevelopment of Dharavi, one of the largest slum clusters in Asia.

The Maharashtra government authorities, on November 29, opened the financial bids for the Dharavi redevelopment.

Said SVR Srinivas, Chief Executive Office of Dharavi Redevelopment Project, "We got three bids of which we opened two financial bids of Adani and DLF as Naman Group did not qualify in the technical bidding. The bid by Adani Group was for Rs 5,069 crore and DLF was Rs 2,025 crore. We will now further go with approval from the state government and also form a special purpose vehicle (SPV) for Dharavi redevelopment.”

Singapore Airlines and Tata Sons to merge Air India, Vistara

Singapore Airlines (SIA) and Tata Sons have agreed to merge Air India and Vistara, with SIA also investing Rs 20,585 million (S$360 million, US$250 million) in Air India as part of the transaction, as per an official release issued on November 29.

This would give SIA a 25.1 percent stake in an enlarged Air India group with a significant presence in all key market segments, it added.

SIA and Tata aim to complete the merger by March 2024, subject to regulatory approvals.

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