India Billdesk sold in India's largest fintech deal 🤯 What happened — private equity giant Prosus brought the big guns to acquire one of India’s oldest payment processors, Billdesk, in a $4.7 billion deal [https://techcrunch.com/2021/08/30/prosus-acquires-indian-payments-giant-billdesk-for-4-7b-will-merge-with-its-payu-fintech-group/] . Billdesk [https://www.billdesk.com/web/] basically offers an online payment gateway that lets large enterprises as
India_News What is Retro-Tax and why is India canceling it? 🤔 What’s poppin’ — finance ministry is amending the Income Tax Act [https://www.bloombergquint.com/business/retrospective-tax-on-indirect-transfers-to-be-made-prospective-new-bill] to remove a stupid-ass clause brought in 2012, that demanded retrospective taxes be paid to government on indirect transfer of assets, that happened even way back in history. Some handholding — so lets take
India_News Ambani wants to buy Subway🥪 What happened — Reliance’s Retail biz is apparently looking to buyout the India operations of Subway. Moneycontrol says the deal could be worth $200-$250 million [https://www.moneycontrol.com/news/business/reliance-retail-to-buy-out-subway-india-for-rs-1488-1860-crore-report-7259671.html] . Subway is currently ongoing a global restructuring process, cutting out excess, improving quality, and figuring out
India_News India may soon get a new Airline ✈️ What’s poppin’— ET reports [https://www.moneycontrol.com/news/business/rakesh-jhunjhunwala-to-back-new-low-cost-airline-may-own-upto-40-percent-stake-report-7157111.html] that a new low-cost nationwide airline is in the making, kicked off by a bunch of ex-aviation sector executives, backed by dollars from billionaire investor Rakesh Jhunjunwala. Details remain scant, but Jhunjunwala plans on owning about 40%
India Adani Group loses $6 billion in a single day 👻 What happened — Economic Times broke news that nearly ₹44K worth of stock [https://economictimes.indiatimes.com/markets/stocks/news/a/cs-of-3-fpis-owning-adani-shares-frozen/articleshow/83496483.cms] in the Adani Groups owned by 3 Mauritius based funds had been frozen by the NSDL acting upon SEBI’s directive, apparently due to lack of
