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Amazon India launches its largest fulfilment centre in Bengaluru

Amazon India announced on Monday that it has launched its largest fulfilment centre in India with a storage capacity of over 2.4 million cubic feet in Bengaluru. This will expand the storage capacity in Karnataka by 60% to support over 42,000 sellers, the e-commerce company said. The expansion will also “create diverse and meaningful work opportunities for individuals”, it added.

Infosys completes buyback of 5.58 crore shares worth ₹9,200 crore

Infosys said it has bought back over 5.58 crore equity shares as part of its about ₹9,200 crore buyback offer. The shares were bought back at a volume-weighted average price of ₹1,648.53 per equity share, according to a public notice. Infosys’ board had recommended a capital return of ₹15,600 crore, including a final dividend of ₹6,400 crore.

NBFCs, payment system operators can apply for Aadhaar e-KYC licence: RBI

The RBI has said that NBFCs and payment system operators seeking to obtain Aadhaar e-KYC authentication licence can submit the application with the central bank. It also provided the format of the application. In 2019, Finance Ministry had come out with a detailed procedure for processing of applications for use of Aadhaar authentication services by entities other than banking companies.

Litecoin falls after rising 33% as Walmart denies partnership report

Major cryptocurrencies gave back their advances after Walmart said that a press release claiming the American retailer’s partnership with cryptocurrency Bitcoin was fake. Litecoin, which surged as much as 33% on reports of Walmart accepting the cryptocurrency as payment, erased all its gains. World’s largest cryptocurrency Bitcoin also fell 2.9% after rising roughly 4% on the news.

India Inc sees 219 deals worth $8.4 bn in Aug, highest since 2005

India Inc witnessed 219 deals, which was the highest since 2005, worth $8.4 billion in August, a report by Grant Thornton Bharat said. The bulk of the deals in August came from private equity and venture capital funds, which invested $7.6 billion across 182 deals. IT solutions, data analytics, among others saw bulk of the deals, the report added.

Freshworks to raise up to $912 mn in US IPO, aims $9 bn valuation

California-based software unicorn Freshworks is aiming for a valuation of nearly $9 billion in US IPO, Reuters reported citing a regulatory filing. Freshworks will sell 28.5 million shares priced between $28 and $32 and raise as much as $912 million. Founded by Girish Mathrubootham and Shan Krishnasamy in Chennai, the 11-year-old startup was valued at around $3.5 billion in 2019.

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