Mercedes makes cars affordable
Bharti Airtel promoter firm Bharti Telecom plans to raise $1 billion through equity sale to become debt-free, according to a source. Bharti Telecom plans to dilute 2.75 per cent of its 41 per cent stake, with a floor price of Rs 558 per share through secondary placement. "Bharti Telecom has roped in JP Morgan for the raising $1 billion by selling 150 million equity shares at a price of Rs 558 per cent per unit," the source said.
The NCLAT has set aside an NCLT order to implead the Ministry of Corporate Affairs as a party in all proceedings related to insolvency and company matters before it. Allowing the plea filed by the ministry, a two-member bench of the appellate tribunal said the NCLT's direction, issued last November, was "beyond the power" and amounted to "imposition of a new rule in a compelling fashion".
Smartphone maker Realme forayed into the smart TV market, and said it aims to sell about 1 million units by December this year. The move will see the firm compete against not only giants like Samsung, LG and Sony but also rivals from smartphone segment like Xiaomi, Motorola and OnePlus. "India has always been a top priority market for Realme,” said Realme India CEO Madhav Sheth.
In a bid to revive customer confidence and create incremental demand, Mercedes-Benz, India’s biggest German luxury car maker, on Monday introduced 'Wishbox 2.0' campaign to make its cars more affordable during
Covid-19 tough times. Under 'Wishbox 2.0' campaign, automaker provides limited period financial solutions, enabling customer to own their dream Mercedes-Benz car with minimal financial cost and commitment It empowers prospective customers to purchase a car model of their choice and not put off their plans.
Under the campaign, the German car maker is offering three financial options— a) Three months no EMI, b) Step-Up 2020Drive More, Pay Less and c) EZ 10 or 10-year finance scheme.
Under the first scheme, a customer opting for a Standard Loan and Agility can avail of an EMI-free period for the first three months. EMIs will commence after the threemonth period of the 3, 4 or
5-year loan as customised by the buyer.
The ‘Step-Up 2020’ is based on Agility and empowers the customer to opt for a payment option suiting her/his financial convenience. Small sum as the EMIs for the first six months of the contract and regular EMIs starts from seventh month onward.
EZ10 is a first of its kind initiative under which Mercedes-Benz India will extend a customer's loan tenure to 10 years.
This financial solution is based on five years Agility and five years refinance, an amalgamation of two contracts. A customer also can opt for a guaranteed buy-back after five years.
“As the markets across the country starts reopening, we are introducing ‘Wishbox 2.0’, a host of customized, flexible financial solutions to customers who want to buy their Mercedes,” said Martin Schwenk, MD at Mercedes-Benz India.