Jubilant Bhartia Group has announced its acquisition of a 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of Coca-Cola’s largest bottler in India. The move marks the group’s entry into India’s high-growth beverage sector. The financial terms of the deal have not been disclosed, although media reports estimate it at $1.19 billion (around INR 10,000 crores). Hari S. Bhartia, founder and co-chairman of Jubilant, highlighted that the investment aligns with the group’s strategy to diversify into high-growth industries. Coca-Cola India President Sanket Ray noted that Jubilant\u2019s diverse expertise will accelerate the Coca-Cola system and enhance value for consumers and local communities.<\/span><\/p>\n (Source: VC Circle, 11<\/span>th<\/span> December 2024)<\/span><\/p>\n CarDekho, a leading automobile marketplace, raised $60 million (around INR 500 crores) for its Southeast Asia unit (CarDekho SEA), marking its first external funding round. The funding, led by Navis Capital Partners, Liquidity Group, and Dragon Fund, will help enhance its presence and capabilities in the region. This brings CarDekho SEA’s total funding to $100 million (around INR 857 crores), including a previous $40 million (around 342 INR crores) from its parent company. The company plans to expand its auto and financial services ecosystem, focusing on used car financing, insurance, and electric vehicle financing across Southeast Asia.<\/span><\/p>\n (Source: VC Circle, 11<\/span>th<\/span> December 2024)<\/span><\/p>\n Kenro Capital, led by Piyush Gupta, has invested $40 million (around INR 342 crores) in K12 Techno Services Pvt Ltd, acquiring a minority stake. This marks Kenro’s first investment from its growth-stage-focused secondaries fund, which targets companies in India and Southeast Asia. K12 Techno, known for operating Orchids International Schools, will use the funding to fuel growth. This follows a $27 million (around INR 231 crores) investment from Venturi Partners earlier this year. Kenro Capital focuses on profitable, growth-stage companies with plans for public listing within 2-3 years, typically investing $20-$30 million (around INR 171 to INR 257 crores) per deal.<\/span><\/p>\n (Source: VC Circle, 12<\/span>th<\/span> December 2024)<\/span><\/p>\n Rebel Foods, a foodtech company known for its cloud kitchens and recent offline expansion, raised $210 million (around INR 1800 crores) in its Series G round, led by Temasek with participation from existing investor Evolvence. The funding will help expand Rebel Foods’ brand portfolio and strengthen its platform. The company operates several internet-first brands, including Faasos, Behrouz Biryani, Oven Story Pizza, and more, across 450 kitchens in over 70 cities in India, as well as in international markets like the UAE and the UK. This funding follows a $175 million (around INR 1500 crores) raised in 2021, making Rebel Foods a unicorn.<\/span><\/p>\n (Source: VC Circle, 12<\/span>th<\/span> December 2024)<\/span><\/p>\n Sahyadri Farms raised $46 million (around INR 394 crores) in its Series B funding round, with investments from Europe\u2019s responsAbility and US-based GEF Capital Partners, along with existing investors FMO, Proparco, Incofin, and Korys. The funds will support the expansion of its climate-resilient grape varieties, citrus produce, and processing facilities for fruits, vegetables, and food products. The company, which exports 71% of India\u2019s table grapes, works with over 26,000 small farmers. Sahyadri Farms plans an IPO in the future and reported a significant growth in revenue and profits for FY24.<\/span><\/p>\n (Source: VC Circle, 20<\/span>th<\/span> Deecmber 2024)<\/span><\/p>\n Swedish private equity firm EQT and Singapore’s Temasek have agreed to sell their Indian green energy platform, 02 Power, to JSW Neo Energy Ltd, a subsidiary of JSW Energy, for $1.47 billion (around INR 12,468 crores). The acquisition, which includes a 4.7 GW portfolio, will help JSW Neo achieve its 20 GW target by 2029-30. Founded in 2019, 02 Power specializes in solar, wind, and hybrid energy projects, and saw significant revenue growth, from $3.9 million (around INR 33 crores) in FY22 to $62.8 million (around INR 538 crores) in FY24. EQT and Temasek’s sale marks EQT\u2019s first infrastructure exit in the region.<\/span><\/p>\n (Source: VC Circle, 27<\/span>th<\/span> December 2024)<\/span><\/p>\n Global technology investor Prosus has invested $79.9 million (around INR 677 crore) in Mintifi Pvt. Ltd. The investment, made in October, values Mintifi at around $750 million. Founded in 2017, Mintifi offers supply-chain payments, invoicing, and purchase financing solutions to distributors and retailers in the supply chain domain. Mintifi works with over 100 brands, including Tata Motors, Jockey, Parle Agro, and TVS Motorcycles.<\/span><\/p>\n (Source: VC Circle, 02<\/span>nd<\/span> December 2024)<\/span><\/p>\n AdvantageClub.ai, an AI-powered platform offering a comprehensive suite of employee engagement, rewards, and wellness solutions, has raised $4 million (around INR 33.6 crores) in a funding round led by Axilor Ventures, bringing its total funding to $11 million (around INR 92 crores). The platform\u2019s services include rewards programs, wellness initiatives (OPD plans, health checkups, fitness programs), sales incentive automation, flexible benefits, and community-building features. The round also saw participation from AFG Ventures, Prasanna Sarkar (co-founder of Rippling), Bytez Ventures, and existing investors. The funds will support AI enhancements, product development, and expansion into the US and Asia.<\/span><\/p>\n (Source: VC Circle, 02<\/span>nd<\/span> December 2024)<\/span><\/p>\n Fraud prevention software company RaptorX has raised $0.47 million (around INR 4 crores) in a pre-seed funding round led by Peak XV Spark, EagleWings Ventures, and Point One Capital, with additional participation from Lenskart CEO Peyush Bansal, BoAt CMO Aman Gupta, and angel investors from Google. Founded by Pratyusha Vemuri, RaptorX will use the funds to enhance its AI and machine learning capabilities for banking and e-commerce applications, expand its team, and improve integrations with payment gateways, e-commerce platforms, and banking systems. The company focuses on fraud prevention, anti-money laundering (AML), and customer risk intelligence.<\/span><\/p>\n (Source: VC Circle, 02<\/span>nd<\/span> December 2024)<\/span><\/p>\n Agrileaf, a Karnataka-based maker of biodegradable dinnerware, has raised $2 million (around INR 16 crores) in its first growth funding round, led by Capital-A and Samarsh Capital. The company, founded in 2019 by Avinash Rao and Athishay Jain, manufactures eco-friendly alternatives to plastic, paper, and bagasse plates using Areca leaves. The funds will support expansion in the US and European markets. Angel investors, including Shaji Devekar (co-founder of The Nutcracker), Siddharth Bafna, and Pritie Jain of Bling Mushrooms, also participated in the round.<\/span><\/p>\n (Source: VC Circle, 03<\/span>rd<\/span> December 2024)<\/span><\/p>\n Shilpa Shetty-backed Wicked Gud has raised $2.4 million (around INR 20 crores) in funding led by Orios Venture Partners, with participation from Asiana Fund and existing investors. Founded in 2021 by Bhuman Dani, the Mumbai-based startup offers healthier indulgent foods like noodles, pasta and chips. The funds will support distribution expansion, branding, and new product development, including Korean flavors to its instant and cup noodle range.<\/span><\/p>\n (Source: VC Circle, 04<\/span>th<\/span> December 2024)<\/span><\/p>\n Ceat, a leading domestic tyre manufacturer has announced its acquisition of the Camso brand from Michelin, a global tyre major, for USD 225 million (around INR 1,900 crore). As part of the agreement, Ceat will also acquire two Michelin-owned manufacturing facilities in Sri Lanka. Camso, a Canadian brand, specializes in off-highway tyres for vehicles such as tractors, harvesters, and bulldozers\u2014sectors that typically offer higher profit margins compared to passenger vehicle and two-wheeler tyres. According to Ceat, the acquisition of the Camso brand aligns perfectly with its growth strategy for the off-highway tyre segment, enhancing the company’s margin profile.<\/span><\/p>\n (Source: VC Circle, 7<\/span>th<\/span> December 2024)<\/span><\/p>\n Metropolis Healthcare Ltd, India’s second-largest pathology chain, announced its acquisition of oncology diagnostics provider Core Diagnostics Pvt Ltd $29 million. (around INR 246.83 crores) The deal includes Rs 135.76 crore in cash and a share swap for the remaining amount. The transaction is expected to complete within 60 days from the signing of definitive agreements, pending shareholder approval. This acquisition strengthens Metropolis’s cancer testing portfolio and expands its presence in northern and eastern India. It also leverages Core Diagnostics’ relationships with top cancer specialists and hospitals.<\/span><\/p>\n (Source: VC Circle, 09<\/span>th<\/span> December 2024)<\/span><\/p>\n Datamatics Global Services Ltd announced that its wholly owned subsidiary, Lumina Datamatics Ltd, has signed an agreement to acquire Chennai-based digital publishing company TNQ Tech Pvt Ltd. Lumina will first acquire an 80% stake in TNQ Tech for $39.6 million (around INR 336 crores), with plans to purchase the remaining 20% later. TNQ Tech specializes in AI-enabled publishing technology and services for clients in Europe and North America. Lumina Datamatics stated that the acquisition will boost the company’s global workforce to over 6,500 and enhance its AI-driven offerings.<\/span><\/p>\n (Source: VC Circle, 10th December 2024)<\/span><\/p>\n Wipro Ltd has agreed to acquire Massachusetts-based Applied Value Technologies Inc. (AVT) for $40 million (around INR 340 crores) in cash. The acquisition will enhance Wipro\u2019s application services capabilities and open new growth opportunities. The deal includes a deferred consideration in the form of an earnout, contingent on meeting specific performance metrics. AVT specializes in transforming IT operations with a customized, data-driven approach, and will strengthen Wipro\u2019s offerings in application services.<\/span><\/p>\n (Source: VC Circle, 17<\/span>th <\/span>December 2024)<\/span><\/p>\n Ashoka Buildcon Ltd is set to sell a portfolio of 11 road projects to Sekura Roads, an infrastructure platform managed by the Edelweiss Infrastructure Yield Plus (EIYP) fund, in a deal valued at $272 million (a round INR 2,324 crores) The projects, housed across 11 special purpose vehicles, will be acquired by Concesiones 2 Pvt Ltd, Infrastructure Yield Plus II, and Infrastructure Yield Plus IIA, managed by EAAA India Alternatives Ltd. The roads are located in Punjab, Jharkhand, Karnataka, Andhra Pradesh, Telangana, Gujarat, and Maharashtra.<\/span><\/p>\n (Source: VC Circle, 31<\/span>st<\/span> December 2024)<\/span><\/p>\n Related Services:\u00a0M&A Advisory Services<\/a>\u00a0 &\u00a0Corporate Finance Services<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Jubilant Bhartia Group To Buy 40% Stake In Coca-Cola\u2019s Indian Bottler Jubilant Bhartia Group has announced its acquisition of a 40% stake in Hindustan Coca-Cola Holdings Pvt Ltd, the parent company of Coca-Cola’s largest bottler in India. The move marks the group’s entry into India’s high-growth beverage sector. The financial terms of the deal have not been disclosed, although media […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[20],"tags":[],"class_list":["post-2297","post","type-post","status-publish","format-standard","hentry","category-corporate-finance"],"yoast_head":"\nPrivate Equity<\/h2>\n
CarDekho\u2019s Southeast Asia Unit Raises $60 Mn From Navis Capital, Others<\/h3>\n
Kenro Capital Makes Debut Investment of $40 Mn In K12<\/h3>\n
Temasek Leads $210 Mn Investment In Rebel Foods<\/h3>\n
Sahyadri Farms Raises $46 Mn, Adds New Investors To Cap Table<\/h3>\n
EQT, Temasek To Sell Indian Green Energy Platform O2 Power In $1.5 Bn Deal<\/h3>\n
Venture Capital<\/h2>\n
Prosus Invests $80 Mn In PremjiInvest-Backed Fintech Firm<\/h3>\n
AdvantageClub.Ai Secure Early-Stage Cheques For Expansion<\/h3>\n
RaptorX Raises Early-Stage Funding For Expansion<\/h3>\n
Agrileaf Raise Early-Stage Funding<\/h3>\n
WickedGud Gets Funding<\/h3>\n
Mergers & Acquisitions<\/h2>\n
CEAT to buy Camso brand from France\u2019s Michelin for $225 Mn<\/h3>\n
Metropolis Healthcare To Acquire Core Diagnostics For $29 Mn<\/h3>\n
Datamatics To Acquire Digital Publishing Firm TNQ Tech<\/h3>\n
Wipro To Acquire US Firm Applied Value Technologies For $40 Mn<\/h3>\n
Ashoka Buildcon To Sell 11 Road Projects To Edelweiss Infra Fund In $272 Mn Deal<\/h3>\n