A round-up of the biggest articles from newspapers.
CVC Capital frontrunner to buy Sajjan India
CVC Capital is leading the race to bag Sajjan India Ltd, The Economic Times reports.
Why it’s important: The US-based PE fund signed an exclusivity pact with the promoters of one of India’s biggest agrochemical makers.
CVC Capital outbids Bain Capital in the bid process.
The deal set to value Sajjan India at around $1 bn.
Govt likely to miss early next year target for 5G auction
The government is likely to miss early next year target to hold 4G and 5G airwaves auctions, The Economic Times reports.
Why it’s important: To avoid delay the telecom regulator should be sending in its pricing recommendations by November.
DoT sought Trai’s pricing recommendations for 4G and 5G spectrum bands as well as for new bands like the MW wave frequencies in 26 GHz and 28 GHz bands that also support 5G technology.
Trai is supposed to give a roadmap of the auction and the quantity to be put up for sale at least 4-5 months before the auction.
82% CEOs bullish on growth prospects
The majority of CEOs are confident about the growth revival of their companies, reports The Times of India quoting an exclusive KPMG survey of CEOs’ outlook.
Why it’s important: 82% of CEOs who were surveyed said they are bullish on growth prospects.
However, the number is lower compared to the 92% level recorded six months earlier, but that’s just before the Covid-19’s second wave.
From the earnings outlook, 95% of CEOs are confident of growth against 96% in March.
CEOs are also optimistic about the prospects for the global economy.
Adani Wilmar IPO plans back on track
Adani Wilmar Ltd’s share sale plans are again getting a fillip as the Sebi resumes the approval process, reports Mint.
Why it’s important: The market regulator put on hold Adani Wilmar Ltd’s IPO plans seeking more information.
The plan is to complete the IPO process before the year-end.
Sebi is also examining Adani Power Ltd’s delisting plans.
India, US to provide more trade facilities to exporters
The authorities in India and the US will be extending more facilities to exporters to push trade, reports Mint.
Why it’s important: India’s Central Board of Indirect Taxes and Customs (CBIC) and the US Customs and Border Protection put out certain compliance criteria to avail these facilities.
The new plan provides some privileges to exporters accredited by the respective authorities based on their track record.
The move will facilitate greater trust besides faster tax refunds and dispute adjudication.
India’s first renewable InvIT raises Rs 460 crore
The country’s first and only renewable energy Infrastructure Investment Trust Virescent Renewable Energy Trust has raised Rs 460 crore funds, reports Business Standard.
Why it’s important: InvIT raised these funds both from foreign and domestic investors in its first round of funding.
VRET plans to buy high-quality assets in the renewable energy sector.
VRET was floated in February by Virescent Infrastructure backed by global investment firm KKR.
VRET has an initial portfolio of nine operational solar projects with around 395 MW capacity.
No data is shared without the patient’s consent on health ID: NHA
RS Sharma, CEO of the National Health Authority, in an interview with Business Standard said that there is no privacy concern with the proposed digital health ID.
What the CEO says:
No data is shared without the patient’s consent on health IDs.
No data is collated and collected at a central facility and there won’t be any central registry.
The data remains wherever it is and is made visible or fetched by the patient himself on his own authority.
Therefore, there is no concern on privacy.
Health ID is not mandatory. It is voluntary.
“We are calling it a universal health interface similar to the unified payments interface, or UPI. The UPI unbundled the payments to the banks.”