Three things to know for Teji Mandi investors on 06, October 2020
New investors may bring $150 million to Zomato's table
A set of four investors are expected to join the ongoing $600-million financing round at online food delivery company Zomato.
Hong Kong-based hedge fund Steadview Capital, South Korean Mirae Asset-Naver Asia Growth Fund, US hedge fund Luxor Capital and private equity firm Bow Wave Capital is likely to collectively pump $150 million into the company.
Zomato has chalked out an IPO plan for mid-2021.
Samsung to begin local production of TV sets from December
Samsung India, the country’s largest consumer electronics and smartphone maker, has told the government that it will begin local production of TV sets by December 2020.
This is a boost for the ‘Make in India’ project for the government. The government had put television sets on the restricted list of imports for the first time in 20 years on July 30. It was a part of its strategy to discourage imports from China and boost local manufacturing.
It will continue to import the high-end models like 75-inches and above which is a minuscule portion of total sales. Samsung has been manufacturing some TV models in India through contract manufacturer Dixon since early this year.
September strongest month in recovery: HDFC
HDFC Ltd said its individual loan disbursements in the second quarter of 2020-21 reached 95 per cent of the level in the year-ago period. September saw the strongest recovery since the outbreak of COVID-19 pandemic, suggesting business is returning to pre-crisis levels.
The mortgage lender said that the individual loan receipts in terms of volume grew by 21% in September on a yearly basis while the approvals (in value) were higher by 31%.