Top headlines: Cloudtail to stop operations; Oyo gets IPO process going

Business Standard brings you the top headlines this evening

Amazon India's largest seller Cloudtail to stop operations from May 2022

Prione Business Services Pvt. Ltd., a joint venture between Amazon and Infosys co-founder N R Narayana Murthy’s Catamaran Ventures and which has been running successfully for the past 7 years and is coming up for renewal on May 19, 2022.

The two partners today announced they have mutually decided to not continue their joint venture beyond the end of its current term. Read more

SoftBank-backed Oyo shortlists 3 investment banks for $1.2-bn IPO: Report

SoftBank-backed Indian hospitality startup Oyo Hotels & Rooms has shortlisted JP Morgan, Kotak Mahindra Capital and Citi for a more than $1.2 billion initial share sale, a financial news website reported on Monday, citing multiple industry sources. Read more

SAT gives split verdict in Sebi-PNB Housing case; interim order to continue

The Securities Appellate Tribunal (SAT) has given a split verdict in the appeal filed by PNB Housing Finance against market watchdog Securities and Exchange Board of India (Sebi), on restraining the mortgage lender from going ahead with the preferential allotment of shares unless the valuation was done by an independent valuer.

The matter was heard by a two-judge bench comprising Presiding Officer Justice Tarun Agarwala and Judicial Member Justice MT Joshi. Read more

India's Olympic champions return from Tokyo, get grand reception in Delhi

Neeraj Chopra, gold medalist javelin thrower at recently concluded Tokyo Olympics, arrived at Delhi airport on Monday from Japan. He was welcomed by BJP MP Tejasvi Surya and others.

Upon arriving at Indira Gandhi International Airport in New Delhi, Neeraj was swamped by supporters and they played dhols to give a thunderous response to the 23-year-old's historic feat back in Tokyo. Read more