In Brief: Future Consumer may raise Rs 300 cr via rights issue; WhatsApp under CCI scanner

In Brief: Future Consumer may raise Rs 300 cr via rights issue; WhatsApp under CCI scanner
Photo Credit: 123RF.com
18 May, 2020

Kishore Biyani’s Future Consumer, a fast-moving consumer goods (FMCG) business, may raise Rs 300 crore via a rights issue, The Inc 42 reported. The company has set up a committee of directors to finalise the terms and conditions including rights entitlement ratio, issue price, record date, and payment option, the report said. In a rights issue, a company grants shareholders rights to buy additional shares at a discounted price. Earlier this month, Kishore Biyani planned to sell a significant stake in his company to Seattle headquartered retail giant Amazon.

Read: Future Group lays off about 400 employees, scales down Retail 3.0

CCI reviews antitrust allegations against WhatsApp

Competition Commission of India (CCI) is reviewing allegations that social media giant Facebook-owned messaging platform Whatsapp is abusing its dominant position by offering payment services in India, The Reuters reported. The report revealed that the country’s anti-trust watchdog is looking into a complaint filed in March. Last week, WhatsApp assured the Supreme Court that it would not launch its payments feature WhatsApp Pay until the Reserve Bank of India (RBI) cleared it.


Read: WhatsApp Pay to comply with India guidelines

Delhi HC asks Google Pay to respond over the petition filed last week

Just four days after the first hearing regarding the complaint filed by Shubham Kapaley, the Delhi High Court has issued a notice seeking suspension of Google Pay. The platform allegedly does not follow unified payments interface (UPI) interoperability. The notice, issued to the Government of India, Reserve Bank of India (RBI), Google India Digital Service and other respondents, was sent by Justice Asha Menon. The HC has offered three week’s time to GooglePay and other respondents to file their responses, a report in the Bar and Bench said.

Veeam enters into a partnership with Google

Baar, Switzerland-based software company Veeam has inked a deal with search engine giant Google. With the help of Google Cloud VMware Engine,  customers can migrate their VMware vSphere-based workloads to Google Cloud. The partnership will offer Veeam customers with benefits within the Google Cloud Platform (GCP), which includes accelerated cloud migration, simplified operations, and more agile business with effective disaster recovery. 

Bosch India rolls out CareZeus


Technology and engineering solutions company Bosch India has rolled out a platform to fight the Covid-19 pandemic. Dubbed CareZeus, the platform helps users access information about the availability of healthcare facilities, according to a statement. Additionally, the platform will enable the administrative teams to add information such as locations of all hospitals, facilities available at each hospital including ICU beds, wards, types of medical facilities, and location of diagnostic centres, Covid-19 testing centres. CareZeus is a pro bono initiative by Bosch to support the Government in its fight against COVID-19.

Shiprocket integrates Zoho Commerce on its platform

Logistics platform Shiprocket has integrated the sub-brand of Zoho Corporation, Zoho Commerce on its platform, according to a statement. The partnership will help users to choose their carriers based on delivery time and shipping cost while processing their incoming orders on Zoho Commerce. Additionally, Zoho Commerce sellers will be able to sync order data, inventory and catalogue with Shiprocket automatically. This integration will help Zoho commerce and Shiprocket users to avail free subscription plans upon sign up, it added.