Jio Platforms has raised Rs 78,562 Cr from leading technology investors within a month. Reliance industries Ltd (RIL) is now considering an overseas listing of Jio platforms. The enterprise value of Jio Platforms has reached Rs 5.15 Tn, within 6 months. RIL is also approaching the Indian capital market to raise Rs 53,000 Cr via its first right issue in three decades.
Here is some latest financial news of private equity, venture capital and mergers & acquisitions:
Private Equity:
Abu Dhabi’s Mubadala is to invest $1.2 billion in Reliance’s Jio Platforms:
Abu Dhabi Mubadala Investment Company will invest Rs 9,093.60 Cr (which is around $1.2 billion) in Jio Platforms Ltd, as the Indian conglomerate roped in the sixth investor for its digital unit.
(Source: VC Circle 05 June, 2020)
KKR is to invest $1.5 bn in Reliance’s Jio Platforms:
US- based private equity giant KKR will invest Rs 11,367 Cr (around $ 1.5 billion) in Jio Platforms Ltd. KKR’s is the largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms.
(Source: VC Circle 22 May, 2020)
Silver Lake to invest $747 Mn in Reliance’s Jio Platforms:
Private equity firm Silver Lake will invest Rs 5655.75 crore (around $747 million) in its digital arm Jio Platforms Ltd.
(Source: VC Circle 04 May, 2020)
General Atlantic to invest $ 870 Mn in Reliance’s Jio Platforms:
US- Based private equity firm General Atlantic will invest Rs 6,598.38 Cr ($870 million) in Jio Platforms Ltd, as it roped in the fourth foreign investor for its digital unit within a month.
(Source: VC Circle 17 May, 2020)
BlackRock makes debt investment in Pune fertiliser maker:
BlackRock Inc., world biggest asset manager has made a debt investment in a Pune based maker of chemicals and fertilisers. BlackRock’s private equity arm has made an investment of Rs 150 Cr (around $20 million) in a group company of Deepak Fertilisers and Petrochemicals Corporation Ltd.
(Source: VC Circle 26 May, 2020)
Gaja Capital hits the road to raise new PE fund with bigger corpus:
Homegrown private equity firm Gaja Capital has kicked off the process of raising capital for its third fund, aiming to mop up far more money than it did in its previous outing. The PE firms has started soft marketing for the new fund and aims to mobilise $400-$500 million in this outing.
(Source: VC Circle 20 May, 2020)
Venture Capital:
Logistics – tech firm shiprocket raises Series C funding:
BigFoot Retail Solution Pvt Ltd which operates e-commerce, focussed logistics technology firm Shiprocket, has raised $13 million (Approximately 99 Cr) in its Series C funding round. The round has been led by the US – based Tribe Capital.
(Source: VC Circle 11 May, 2020)
Sindhuja Microcredit raises Series B funding from NMI, Carpediem Capital:
Sindhuja Microcredit Pvt Ltd, a rural focussed microfinance institution, has raised $8.7 million (Approximately 66 Cr) in its Series B funding round.
(Source: VC Circle 11 May, 2020)
Agri-tech startup Intello Labs raises Series A funding from Saama Capital:
Intello Labs Pvt Ltd, agricultural technology startup, has raised Rs 45 Cr ($ 5.9 million) in its Series A funding round led by new investor Saama Capital.
(Source: VC Circle 13 May, 2020)
RentMojo enters $100 Mn valuation club with fresh VC funding:
Online rental marketplace Rentomojo has touched a valuation of nearly $100 milllion after raising fresh funding from venture capital investors. The Bengaluru based firm, operated by Edunetwork Pvt Ltd has raised nearly Rs 24.5 Cr ($3.23 million) from its existing investors including Chiratae Ventures, Accel, Bain Capital and French entrepreneur Renaud Laplanche.
(Source: VC Circle 14 May, 2020)
Organic skincare brand Juicy Chemistry raises angel funding:
Juicy Chemistry Pvt Ltd which operates an eponymous consumer brand , focussed on organic based skin care products, has raised $ 650,000 (approximately Rs 4.93 crore) in an angel funding round.
(Source: VC Circle 15 May, 2020)
Logistics startup LetsTransport raises venture debt from Innoven:
Diptab Venture Pvt Ltd which operates intra-city logistics marketplace LetsTransport, has raised rs 13 Crore in funding from venture debt firm InnoVen Capital.
(Source: VC Circle 18 May, 2020)
Inventus Capital Partners leads Series A funding in Euler Motors:
Euler Motors Pvt Ltd, an automotive tech startup, has raised Rs 20 crore ($2.66 million) in its series A round of funding led by an early stage investors Inventus Capital Partners.
(Source: VC Circle 22 May, 2020)
Mergers & Acquisition:
Cognizant acquires enterprise focussed consultancy collaborative solutions:
Cognizant Technology Solutions Corp has acquired Collaborative Solutions, a privately held consultancy that specialises in Workday enterprise cloud finance and human resource services.
(Source: VC Circle 07 May, 2020)
Welspun Enterprise to acquire toll road project from Essel Group:
Welspun Enterprises Ltd has plan to acquire a toll road project under the built-operate-transfer (BOT) model from the Subhash Chandra controlled Essel Group.
(Source: VC Circle 07 May, 2020)
Maruti Suzuki acquires Sumitomo’s stake in repair and services:
Maruti Suzuki India Ltd has announced the acquisition of Japan Sumitomo Corporation’s stake in their joint venture JJ Impex (Delhi) Pvt Ltd – a company engaged in automobile service and repair business.
(Source: VC Circle 15 May, 2020)
Tata Consumer to buy out Pepsico from beverage joint venture:
Tata Consumer Products Ltd has acquired PepsiCo’s stake in NourishCo Beverages Ltd, an equal joint venture between the two companies for Rs 29 crore ($3.8 million)
(Source: VC Circle 18 May, 2020)
Ola Electric acquires Dutch scooter maker Etergo:
Ola Electric Mobility Pvt Ltd, a unit of ride hailing company has acquired Amsterdam based electric scooter maker Etergo BV.
(Source: VC Circle 27 May, 2020)
ITC to buy spice maker Sunrise in big ticket deal:
Biscuits to cigarettes maker ITC Ltd has acquired Kolkata based packaged spices maker Sunrise Foods Pvt Ltd. ITC Ltd has acquire 100% of the equity share capital of Sunrise.
(Source: VC Circle 25 May, 2020)
Serum Institute parent sells Czech unit to Novavax for $167 mn:
Cyrus Poonawalla Group, the parent of vaccine developer Serum Institute India Pvt Ltd has sold a Czech unit to biotechnology company Novavax Inc. for $ 167 million (Approximately Rs 1265 Cr ) in cash.
(Source: VC Circle 27 May, 2020)