IT major Wipro said it invested $2.02 million in Avaamo Inc, an artificial intelligence-based conversational computing platform. The company said the investment would give Wipro a minority stake of less than 20% on a fully diluted basis. The announcement was made after market hours yesterday, 15 March 2018.
In a regulatory filing, the company stated that it made strategic investment of $2.02 million in the current tranche. This along with further infusion of funds and conversion of convertible note issued earlier will take the total investment to $3.02 million, Wipro said in a BSE filing.
According to the company, the cash deal was completed on 14 March 2018. Headquartered at Los Altos in the US, the company is founded in 2014. Avaamo Inc provides an artificial intelligence (AI) driven enterprise bot platform that simplifies the time needed to design and deploy enterprise bots to corporate employees and their customers.
Zensar Technologies announced an extension of its managed partner relationship with Microsoft in South Africa in the Global Systems Integrator (GSI) market. The key focus of this partnership for both entities will involve making inroads in the growth areas of cloud, digital, big data & analytics, cyber-security and e-commerce. The announcement was made after market hours yesterday, 15 March 2018.
Yes Bank and Fortis Healthcare will be watched. Yes Bank has sold 1.12 crore equity shares of Rs 10 each, constituting 2.17% of the paid up share capital, of Fortis Healthcare, in various tranches last being on 15 March 2018, resulting into changes in holding of the bank by more than 2% of the total shareholding of Fortis Healthcare, from the last disclosure made by the bank on 13 March 2018. Yes Bank made the announcement after market hours yesterday, 15 March 2018.
Bharat Financial Inclusion on 14 March 2018, completed its third securitization transaction in FY 2018 of Rs 450.82 crore. With this transaction, the company has completed securitization transactions worth Rs 1114.49 crore in FY 2018. The entire pool qualifies for priority sector classification as per the Reserve Bank of India's priority sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a 'high degree of safety regarding timely servicing of financial obligations'. Such instruments carry a very low credit risk. The announcement was made after market hours yesterday, 15 March 2018.
Adani Transmission said it has acquired 100% equity share capital of Fatehgarh-Bhadla Transmission (FBTL) from PFC Consulting (PFCCL) on 14 March 2018. FBTL was incorporated in December 2016 by PFCCL to establish transmission system for ultra mega solar park in Rajasthan. The announcement was made after market hours yesterday, 15 March 2018.
Future Consumer said it has entered into a joint venture agreement with Bin Ablan Group, to establish the business of manufacturing, packaging, marketing, selling, sourcing and distributing cupcakes and pound cakes, by way of forming a joint venture company. Bin Ablan is a Dubai-based company operating in the manufacturing of cakes and other FMCG manufacturing and distribution activities. Future Consumer and Bin Ablan each, directly or through their respective affiliates, shall hold 50% of the paid-up share capital of the joint venture company. The announcement was made after market hours yesterday, 15 March 2018.
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