Reliance Retail Ventures Limited\n(RRVL) will acquire a controlling 66.95% stake in local search engine platform\nJust Dial Ltd for Rs 5,713 crore ($766 million) via preferential allotment\nof shares and open offer. RRVL signed a definitive agreement to buy 40.95%\nstake in the company for around Rs 3,497 crore ($469 million) and make an open\noffer to acquire up to 26% equity. The deal includes preferential\nallotment of 2.12 crore equity shares equivalent to 25.33% post preferential\nshare capital at Rs 1,022.25 per share. RRVL will also acquire 1.31 crore\nequity shares from VSS Mani equivalent to 15.62% post preferential share\ncapital at Rs 1,020 apiece.<\/p>\n\n\n\n
Here are some latest financial news of private equity, venture capital and mergers & acquisitions: <\/p>\n\n\n\n
Flipkart raises fresh funds for $37.6 bn valuation ahead of IPO: (Source: VC Circle 12 July, 2021)<\/p>\n\n\n\n Tamil Nadu Shelter Fund invests\nin Vijay Raja Homes\u2019 housing project in Chennai: <\/strong><\/p>\n\n\n\n Tamil Nadu Shelter Fund, managed by the Tamil Nadu\nInfrastructure Fund Management Corporation, has invested Rs 95 crore ($12.7\nmillion) in an affordable housing project by Vijay Raja Homes Pvt Ltd. The\nfund will be utilised for the construction and development of VRX 360 in\nThirumazhisai, a suburb in western Chennai. <\/p>\n\n\n\n (Source: VC Circle 13 July, 2021)<\/p>\n\n\n\n Belgium-based Sofina to invest\n$27 mn in personal care brand Mamaearth:<\/strong><\/p>\n\n\n\n Belgium-based\nSofina SA will invest around Rs 202 crore ($27 million) in personal care brand\nMamaearth. Mamaearth, as per filings to the companies registrar, has already\nsecured Rs 147 crore and the remaining capital will come in tranches.<\/p>\n\n\n\n (Source: VC Circle 23 July, 2021)<\/p>\n\n\n\n Everstone Capital, Yondr set up\n$1 bn joint venture for data centres:<\/strong><\/p>\n\n\n\n Private equity firm Everstone Group and global data\ncentre major Yondr Group have set up a $1 billion (Rs 7,445 crore) joint\nventure to operate data centres in India. The joint venture has acquired land\nfor its first data centre project in the Mumbai Metropolitan Region which will\noperate as EverYondr.<\/p>\n\n\n\n (Source: VC Circle 27 July, 2021)<\/p>\n\n\n\n GEF Capital leads Series B\nfunding in supply chain firm 3SC:<\/strong><\/p>\n\n\n\n 3SC, a\nGurugram based supply chain company, has raised $15 million (Rs 111 crore) in\nSeries B funding led by GEF Capital Partners\u2019 South Asia Fund. 3SC plans\nto use the funds to expand domestically and across Europe and Southeast Asia,\nwhile also strengthening its Software-as-a-Service (SaaS) and analytics\nbusiness. <\/p>\n\n\n\n (Source: VC Circle 30 July, 2021)<\/p>\n\n\n\n Furlenco secures $140 mn in\nfunding led by Zinnia Global Fund:<\/strong><\/p>\n\n\n\n Online furniture rental startup Furlenco, which is run\nby Bengaluru-based Kieraya Furnishing Solutions Pvt Ltd, has raised Rs 1,000\ncrore ($140 million) in a mix of equity and debt led by Zinnia Global Fund. The\ncompany will utilise the capital to cater to much larger audiences with more\ntailored solutions and new offerings.<\/p>\n\n\n\n (Source: VC Circle 05 July, 2021)<\/strong><\/p>\n\n\n\n Avataar, Ascent Capital co-lead Series\nB funding in SaaS firm CRMNext:<\/strong><\/p>\n\n\n\n Software-as-a-service (SaaS) venture\nCRMNext has raised $16 million (Rs 119.5 crore) as part of its Series B funding\nround co-led by Avataar Ventures and Ascent Capital. The fresh capital\nwill be used for geographical expansion and to double it team members, CRMNext. <\/p>\n\n\n\n (Source: VC Circle 8 July, 2021)<\/p>\n\n\n\n Learn Capital returns to lead\nfunding in edtech startup Teachmint:<\/strong><\/p>\n\n\n\n Teachmint Technologies Pvt Ltd, focused on\ntutor-student connectivity, has raised $20 million (Rs 149.4 crore) in a\npre-Series B funding round led by global edtech-focused venture capital firm\nLearn Capital. It will use the funds to expand in new markets, increase hiring\nand develop its technology capabilities and enhance its product.<\/p>\n\n\n\n (Source: VC Circle 8 July, 2021)<\/p>\n\n\n\n PayPal Ventures, others lead\nfunding in logistics-tech firm Shiprocket:<\/strong><\/p>\n\n\n\n BigFoot Retail\nSolutions Pvt Ltd, which operates ecommerce focused logistics-tech firm\nShiprocket, has raised $41.3 million (Rs 305 crore) as part of its Series D1\nfunding round. The fresh capital will be used for global\nexpansion starting with the Middle East, core product upgrade, research and\ndevelopment (R&D) and hiring.<\/p>\n\n\n\n (Source:\nVC Circle 08 July, 2021)<\/p>\n\n\n\n Gulf Islamic Investments leads\nSeries B funding in two-wheeler maker Hero Electric<\/strong>:<\/p>\n\n\n\n Hero\nElectric Vehicles Pvt Ltd, which manufactures lithium-ion battery-powered\ntwo-wheelers, has raised Rs 220 crore ($29.5 million) in the first part of its\nSeries B round of funding led by Gulf Islamic Investments, a UAE-based\nfinancial services firm. The\ncompany will primarily use the money to expand capacity, invest in technology\nand grow footprint across India-like markets. <\/p>\n\n\n\n (Source: VC Circle 12 July, 2021)<\/p>\n\n\n\n South Korean gaming major\nKRAFTON leads Series D funding in Pratilipi:<\/strong><\/p>\n\n\n\n Vernacular self-publishing firm Pratilipi has\nraised $48 million (Rs 357 crore) in its Series D funding round led by South\nKorean gaming major KRAFTON Inc. Pratilipi will primarily use the capital to\nstrengthen its IP acquisition and development across various formats including\naudio books, podcasts, comics, web series, movies and games etc.<\/p>\n\n\n\n (Source:\nVC Circle 14 July, 2021)<\/p>\n\n\n\n SoftBank Vision Fund leads\nSeries C funding in driver safety platform Netradyne:<\/strong><\/p>\n\n\n\n US and India based artificial intelligence firm\nNetradyne, which focuses on driver and fleet safety, has raised $150 million\n(Rs 1,116 crore) as part of its Series C funding round led by SoftBank Vision\nFund. The\ncompany will use the fresh capital for strengthening its technological\ncapabilities, expansion into new regions and for hiring.<\/p>\n\n\n\n (Source:\nVC Circle 15 July, 2021)<\/p>\n\n\n\n SIG, Omidyar, others invest\n$10.2 mn in agritech platform Otipy:<\/strong><\/p>\n\n\n\n Agritech startup Crofarm Agriproducts has raised a\n$10.2 million (Rs 76 crores) Series A round of financing for its community\ngroup buying platform Otipy. The round was led by global venture capital firm\nSIG. This new\nround of funding will support the company in future growth trajectory, adding\nadditional categories on supply chain making it more efficient and accelerate\nmission of making fresh, nutritious food accessible to all.<\/p>\n\n\n\n (Source: VC Circle 19 July, 2021)<\/p>\n\n\n\n Lightspeed, Elevation Capital lead Series A funding in agritech startup Vegrow:<\/strong><\/p>\n\n\n\n Vegrow,\na business to business (B2B) agritech platform for fruit and vegetables, has\nraised $13 million (Rs 97 crore) as part of its Series A funding\nround. The funding was co-led by Lightspeed Venture Partners and Elevation\nCapital. The Company will use the funds to expand to 100 cities, invest in\ntechnology and launch new products. <\/p>\n\n\n\n (Source: VC Circle 20 July, 2021)<\/p>\n\n\n\n LeapFrog, Khosla Ventures lead Series C funding in HealthifyMe:<\/strong><\/p>\n\n\n\n Benagluru-based health and\nfitness platform HealthifyMe has raised $75 million (around Rs 560 crore) in a\nSeries C round led by LeapFrog and Khosla Ventures. The company will use the\nfunds to expand in India and Southeast Asia, make inroads into North America,\nas well as to acquire relevant companies in the digital health and fitness\nspace.<\/p>\n\n\n\n (Source: VC Circle 20 July, 2021)<\/p>\n\n\n\n Sequoia Capital leads funding\nin healthy food brand The Whole Truth:<\/strong><\/p>\n\n\n\n Healthy\nfood brand The Whole Truth (TWT) has raised Rs 43 crore ($6 million) in a\nSeries A funding round led by Sequoia Capital India. The fresh capital will be used to hire\ntalent, expand manufacturing capabilities and introduce new products.<\/p>\n\n\n\n (Source: VC Circle 27 July, 2021)<\/p>\n\n\n\n Sequoia Capital leads Series A funding in\nskincare brand Minimalist:<\/strong><\/p>\n\n\n\n Mumbai-based skincare startup Minimalist has raised Rs\n110 crore ($15 million) in a Series A funding round led by Sequoia Capital\nIndia, along with participation from Unilever Ventures. The company plans to\nuse the funds to develop its R&D capabilities and infrastructure. Minimalist\nwill also expand its operations outside India.<\/strong><\/p>\n\n\n\n (Source: VC Circle 29 July, 2021)<\/p>\n\n\n\n Eileses Capital leads Series B funding in\nHR startup Talview:<\/strong><\/p>\n\n\n\n Talview Inc., a human resources technology startup,\nhas raised $15 million in Series B funding led by Eileses Capital. Other\ninvestors who participated in the round include US-based Storm Ventures,\nInventus Capital and Emergent Ventures. The fresh funds will be deployed to\nvalidate the video AI platform Instahiring that helps analyse talent\ninteractions for efficient and bias-free talent decisions.<\/p>\n\n\n\n (Source: VC Circle 29 July, 2021)<\/p>\n\n\n\n Commercial estate investment platform\nStrata raises Series A funding:<\/strong><\/p>\n\n\n\n Tech-enabled\ncommercial real estate (CRE) investment platform Strata has raised $6 million\n(Rs 44.6 crore) in a Series A round co-led by Kotak Investment Advisors, Gruhas\nProptech and Sabre Investments. The\ncompany will use this capital to expand aggressively in the next year, taking\nits assets under management (AUM) of about Rs 330 crore to Rs 1,500 crore by\n2021-22.<\/p>\n\n\n\n (Source: VC Circle 29 July, 2021)<\/p>\n\n\n\n HDFC sells stake in India Asset\nRecovery Management to WL Ross:<\/strong><\/p>\n\n\n\n Housing Development Finance\nCorporation (HDFC) has divested 19.9% of India Asset Recovery Management Ltd\n(IARM) in an all-cash deal for Rs 96.94 lakh. HDFC sold its entire stake\nof 7,960 ordinary Class B shares of the Mauritius-based firm to investment firm\nWL Ross & Co. LLC. <\/p>\n\n\n\n (Source: VC Circle 5 July, 2021)<\/p>\n\n\n\n Thai firm Global Power Synergy\nbuys stake in Avaada Energy:<\/strong><\/p>\n\n\n\n Bangkok-based Global Power\nSynergy Public Company Ltd completed the acquisition of a stake in Avaada\nEnergy Pvt Ltd. The company acquired 41.6% stake in Avaada, infusing\napproximately 14.8 billion baht ($453.3 million). Avaada aims to expand its renewable energy portfolio\nin accordance with significant growth expected in electricity demand in India.<\/p>\n\n\n\n (Source: VC Circle 14 July, 2021)<\/p>\n\n\n\n Marico picks up a majority stake in D2C\npersonal care brand:<\/strong><\/p>\n\n\n\n Marico Ltd, the maker of\nParachute hair oil and Saffola cooking oil, has increased its exposure in the\nbeauty and wellness category by picking up a majority stake in a\ndirect-to-consumer (D2C) personal care brand. Marico has picked up nearly 60%\nstake in APCOS Naturals Pvt Ltd which markets ayurvedic beauty brand Just Herbs. <\/p>\n\n\n\n (Source: VC Circle 14 July, 2021)<\/p>\n\n\n\n Mumbai NBFC Authum gets lenders nod to buy\nReliance Commercial Finance:<\/strong><\/p>\n\n\n\n Authum\nInvestment and Infrastructure Ltd will acquire Reliance Commercial Finance\nafter lenders approved its resolution plan. After several rounds of\nbidding and negotiations, Authum\u2019s Rs 1,585 crore (around $212.7 million) plan\nreceived over 80% vote share of the lenders which have already received Rs\n1,240 crore ($166 million) as cash. <\/p>\n\n\n\n (Source: VC Circle 15 July, 2021)<\/p>\n\n\n\n Rossari Biotech to buy Tristar\nIntermediates in second acquisition this year:<\/strong><\/p>\n\n\n\n Speciality chemicals company Rossari Biotech has\nentered into an agreement to acquire Tristar Intermediates Pvt Ltd for Rs 120\ncrore ($16 million). Rossari Biotech disclosed that the acquisition will\nhappen in multiple tranches. As part of the first tranche, it will acquire 76%\nequity stake of Tristar by September this year and the remaining will be\npurchased by fiscal ending March 31, 2025. <\/p>\n\n\n\n (Source: VC Circle 19 July, 2021)<\/p>\n\n\n\n Sanofi India to sell nutraceuticals\u2019 biz to\nKedaara backed Universal Nutriscience:<\/strong><\/p>\n\n\n\n Sanofi India Ltd, local unit of the French drugmaker, has\nreceived board approval to sell its nutraceuticals business to Universal\nNutriscience Pvt Ltd for Rs 587 crore ($78.9 million). As part of the\ntransaction, 16 nutraceutical brands in the portfolio will be transferred to\nUniversal Nutriscience. Universal\nNutriscience is a strategic partnership between homegrown private equity firm\nKedaara Capital and nutraceuticals firm Universal Medicare.<\/p>\n\n\n\n (Source: VC Circle 28 July, 2021)<\/p>\n","protected":false},"excerpt":{"rendered":" Reliance Retail Ventures Limited (RRVL) will acquire a controlling 66.95% stake in local search engine platform Just Dial Ltd for Rs 5,713 crore ($766 million) via preferential allotment of shares and open offer. RRVL signed a definitive agreement to buy 40.95% stake in the company for around Rs 3,497 crore ($469 million) and make an open offer to acquire up to 26% […]<\/p>\n","protected":false},"author":3,"featured_media":575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[20,14],"tags":[83,68,22,21],"class_list":["post-572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-finance","category-general","tag-finance-news","tag-mergers-and-acquisition","tag-private-equity","tag-venture-capital"],"yoast_head":"\n
<\/strong>Ecommerce marketplace Flipkart has raised a $3.6 billion (about Rs 26,842 crore) funding round from a bunch of global investors including sovereign funds, private equity and crossovers in addition to its majority owner Walmart. The investment values the group at $37.6 billion post-money.<\/p>\n\n\n\nVenture Capital<\/strong><\/h4>\n\n\n\n
Mergers & Acquisition<\/strong><\/h4>\n\n\n\n