Bira91 to Buy Beverage Chain Beer Cafe: The Beer Café is set to be acquired by beer maker Bira 91 as it eyes a stronger play and offerings in pubs & taprooms market. It presents a huge opportunity for Bira 91 to leverage its infrastructure, experience, and expansion capabilities to further refine The Beer Café’s strong operating model and better serve its loyal & passionate base of beer enthusiasts. Target’s management, led by Rahul Singh who is CEO and founder,
Category: Corporate Finance
Corporate Finance Alert-September 2022
Edtech firm Lido Learning files for insolvency: Ronnie Screwvala’s Unilazer Ventures-backed Quality Tutorials Pvt. Ltd, which runs edtech platform Lido Learning, has filed for insolvency, according to the company’s latest filings with the corporate affairs ministry. In a meeting early this week, Lido’s board passed a special resolution to file for the corporate insolvency resolution process under section 10 of the Insolvency and Bankruptcy (IBC) code, 2016. Lido Learning had asked more than 1,200 employees to resign in February 2022. The
Corporate Finance Alert- August 2022
Sequoia Capital pares stake in Zomato: Sequoia Capital India has pared its stake in Zomato Ltd by selling shares in the open market, joining Tiger Global, Uber and Moore Strategic Ventures among investors who have either fully or partially sold their holdings in the online food delivery aggregator in recent weeks. Sequioa, which first invested in Zomato in 2013, sold 171 million shares, or 2.01% stake, in the startup between September 2021 and this August. Sequoia offloaded 66 million shares
Corporate Finance Alert- July 2022
Jai Kisan snags $50 mn in first close of Series B at $200-240 mn valn: Jai Kisan, a rural fintech start-up, has raised capital to the amount of USD 50 million (c. 398.5 cr) in a mix of equity and debt in the first close of its ongoing Series B round. The investors invested funds at a pre-money valuation of USD 200 – 240 million. The fintech startup is expected to raise another USD 30 – 50 million in its
Corporate Finance Alert
Twixor raises capital from Axilor Ventures, and others in Series A round: Twixor, the digital process automation platform operated by Twixor Pte Ltd has announced that it has bagged $2.4 million (INR 18 Cr) in its Series A funding round from Season Two Ventures, Axilor Ventures and The Chennai Angels. The digital process automation platform was developed by the IIT Madras campus and has established a stronghold in Chennai along with a presence in other parts of India. The start-up
Corporate Finance Alert
Sources of Elon Musk’s funding offer to buy Twitter for $44 billion: After the Social networking platform, Twitter Inc agreed to Elon Musk’s “best and final” offer of USD 44 billion. Musk increased his financing commitment to USD 27.25 billion, from USD 21 billion – including the new USD 7.14 billion funding from Oracle Corp’s co-founder Larry Ellison, Saudi investor Prince Alwaleed bin Talal, Binance.com, and a bunch of investors. Oracle Corp. co-founder Larry Ellison, who sits on Tesla’s board,
Corporate Finance Alert
Axis Bank to acquire Citi’s consumer business in India for $1.6 bn: One of the leading private sector banks in India, Axis Bank has agreed to acquire Citibank’s consumer business in India. The deal will be undertaken for INR 12,325 crore ($1.62 billion), in an all-cash deal, which includes Citi’s credit cards, retail banking, wealth management, and consumer loan business. Presently, Citibank caters to 3,000 corporate clients in India. It operates 35 branches serving 2.9 million retail customers with 1.2 million bank accounts. Axis,
Finance News Alert
Bharti Airtel to buy Vodafone’s equity stake in Indus Tower: Telecom operator Bharti Airtel Ltd has agreed to buy Vodafone Group’s 4.7% stake in India’s largest cell tower firm Indus Towers Ltd. Vodafone Group is looking to sell its entire stake in Indus Towers Ltd. Currently, Vodafone holds about 28% in Indus Towers while that of Bharti Airtel is close to 42%. Vodafone has said that the cash it raises via these stake sales would be infused in loss-making Vodafone
Latest financial news of private equity, venture capital and mergers & acquisitions.
RIL arm to invest ₹300 cr in robotics co: Reliance Retail Ventures Ltd, the retail unit of Reliance Industries Ltd, is likely to acquire a minority stake in warehouse robotics company Addverb Technologies Pvt. Ltd for around ₹300 crore. If the deal goes through, it will value Addverb Technologies at ₹1,590-1,660 crore. The company claims its products help companies improve space utilization in warehouses and factories by leveraging robotics and warehouse automation. It caters to industries such as e-commerce, health,
Dream Sports raises $840 mn at $8 bn valuation led by Falcon Edge, DST, others:
Dream Sports, the owner of fantasy sports platform Dream11, has announced that it has raised USD 840 million from Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global. The Mumbai-based platform currently has 140 million users. Dream Sports also operates other brands like FanCode, a sports content and commerce platform, DreamSetGo, a sports experiences platform, and DreamPay, a solutions provider. Dream Sports, in August, had made an initial allocation of USD 250 million for its corporate venture capital