J P Chawla & Co. LLP

Fineprint Vol.1 2017

New York Life Insurance has acquired a 22.5% stake in Max Ventures for Rs 121 crore, as the company sets sights on venturing into education and real estate, marking New York Life Insurance’s re-entry into the Max group. Everstone private equity firm invested $35 million in Mumbai-based OmniActive Health Technologies Ltd, facilitating OmniActive’s diversification and expansion. International Finance Corp. invested $125 million in Hero Future Energies, supporting the Hero Group’s renewable energy capacity expansion. WNS acquired procurement BPO firm Denali for $40 million. Aaadhar-based mobile payment app BHIM launched to aid those without debit or credit cards. Airtel payment bank introduced services offering 7.25% interest, Rs1 lakh personal accidental insurance, and plans for a nationwide merchant network. SEBI is set to permit MF buying via e-wallets. Vodafone India and Idea Cellular are discussing a merger to potentially create India’s largest telecom operator.

 There are exciting and challenging times in India, with fiscal and regulatory space changing at a quick pace to create a new word aligned India. The January 2017 started in shadow of demonetization, with winter chills being felt in the economy. 

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