Tiger Global plans to exit Ola after in partially exiting Flipkart
Paytm Payments Bank has obtained Rs122 crore in fresh finances, taking its total capital allocation to Rs400 crore.
CX Partners raises $250 million in the first close of recent fund
Indian personal fairness (PE) firm CX Partners has raised about $250 million for its 2nd quarter-agnostic fund, marking its first year, reports Mint, citing humans aware of the development. Read greater
StanChart close to selling real property important finance unit to Actis: file
Standard Chartered is close to promoting its real property principal finance unit to personal fairness firm Actis, humans with knowledge of the matter stated, following the bank’s decision ultimate year to go out the loss-making business, Reuters mentioned. Read greater
Sequoia Capital sells Just Dial stake worth Rs35 crore
On Wednesday, venture capital firm Sequoia Capital bought a nearly 1% stake in neighborhood search engine Just Dial Ltd, data from inventory exchanges showed, reviews Mint. Based on Wednesday’s remaining rate on the BSE, the shares have been worth around Rs35 crore. Read greater
Unilever Ventures invests Rs65 crore in IDG Ventures
Unilever Ventures, an investment arm of Unilever Plc, has put Rs 65 crore ($10 million) into the IDG Ventures India Fund for 12 months, demonstrating its motive to bankroll consumer technology innovation and virtual startups. “The enterprise allows early and increase-stage startups to acquire equity investment and operational help from Unilever.
Unilever Ventures is comparing startups as part of the Innovation Programme or even otherwise for direct investments,” stated a Hindustan Unilever Unilever Ventures is comparing startups as a part of the Innovation Programme or even otherwise for direct investments,” stated a Hindustan UnileverBSE -0.19 % (HUL) spokesperson. In June, IDG Ventures India had introduced a partnership with Unilever Ventures and Amazon Internet Services to collectively spend money on startups in client generation, software programs, fitness-technology, and monetary-technology groups.
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These investments in IDG will create the vital infrastructure for those investments in IDG will create the important infrastructure for Unilever Ventures, permitting it to assess extra deals, according to its regulatory submitting with the Registrar of Companies (RoC). Unilever Ventures, a funding arm of Unilever Plc, has put Rs65 crore into IDG Ventures India Fund at some point in the yr, demonstrating its motive to bankroll client technology, innovation, and virtual startups. The Economic Times. Read greater
Radhakishan Damani buys Novotel Imagica Khopoli from Adlabs.
Radhakishan Damani, the founder of grocery store chain DMart, has purchased Novotel Imagica Khopoli, a 5-star luxury resort located in a subject park off the Mumbai Pune throughway, from Adlabs Entertainment Ltd, reports The Economic Times. Read greater
Andhra Pradesh to buy sun strength from Kadapa plant
A key country application has reversed its stand. It will purchase sun strength from a massive project, even though at a lower price than initially proposed, giving a boost to the renewable electricity quarter, which becomes derailed with the aid of monopolistic distribution organizations arm-twisting developers to decrease price lists, reports The Economic Times. Read more
Tiger Global plans to go out Ola after, in part exiting Flipkart.
After partially exiting e-tailer Flipkart, Tiger Global Management is eyeing its 2d fundamental go out in India—from cab aggregator Ola. In each instance, Japanese net giant SoftBank is buying Tiger Global’s stake, reports Business Standard. After partially exiting e-tailer Flipkart, Tiger Global control is eyeing its 2nd essential exit in India — from cab aggregator Ola. In each case, Japanese internet giant SoftBank is shopping for Tiger Global’s stake. In August, SoftBank Vision Fund agreed to make investments of $2.6 billion in Flipkart, half of it in buying existing buyers and Tiger Global and Accel. Tiger Global now plans to promote 10-12 in keeping with a cent of its 12-15 in step with cent stake in Ola for $400-500 million to SoftBank. Here’s a picture of Tiger Global’s investments and exits in India
In August, SoftBank Vision Fund agreed to invest $2.6 billion in Flipkart, half of it in buying existing investors and Tiger Global and Accel. Tiger Global now plans to sell 10-12% of its 12-15% stake in Ola for $four hundred-500 million to SoftBank. Here’s a photo of Tiger Global’s investments and exits in India. Read more
Cabinet clears changes to plug loopholes in insolvency code
On Wednesday, the Union cupboard authorized amendments to the Insolvency and Bankruptcy Code (IBC) to plug capacity loopholes inside the new corporate turnaround regime and make sure rescued agencies stay in reliable palms, reports Mint. Read extra
United Bank of India plans to elevate Rs500 crore through bond problem
State-run United Bank of India plans to raise Rs500 crore via Basel III-compliant extra tier 1 bonds, reports The Telegraph. The bank’s capital base has seen a decline in the July-September zone of 2017-18 compared with the previous year. Read more
Retail traders rush to shop for fairness budget
Equity mutual budget has registered a net influx of Rs15,218 crore in October, buoyed via robust participation from retail buyers, according to information from the enterprise body Association of Mutual Funds in India (Amfi). This has taken the full influx of such funds to over Rs91,000 crore in the first seven months of the continued monetary 12 months, reports The Telegraph. Read greater
Fresh OVL stake drill in Namibia
ONGC Videsh Ltd (OVL) obtains a 15% stake in a Namibian offshore oil block, reports The Telegraph. This is the second acquisition of OVL inside the African nation. However, the overseas arm of the kingdom-owned Oil and Natural Gas Corp. Did now not reveal the deal price. Read more
Paytm’s financial institution gets Rs122 crore in fresh funds.
Paytm Payments Bank has received every other Rs122 crore in clean funds, taking its total capital allocation to Rs400 crore, followed by filings made with the Registrar of Companies. Paytm founder and CEO Vijay Shekhar Sharma, who holds the payments bank license, have put in the amount at the side of One97 Communications and One97 India Communications, reports The Times of India, citing regulatory filings.
HDFC MF launches Housing Opportunities Fund
HDFC Mutual Fund has released the Housing Opportunities Fund inside a closed-ended structure to encash on emerging boom opportunities within the low-cost housing area
Fund-elevating abroad gets less complicated for corporations
India’s score upgrade by Moody’s has no longer infused too much enthusiasm inside the domestic bond markets; however, it’d make it simpler for corporations to elevate budget abroad, reports Business Standard. In the domestic markets, overseas buyers have exhausted their limits in government and corporate bonds.