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An Investment Firm to Acquire Majority Stakes in Leelaventures Ltd.

12Jun By Gauri SinghNo Comments

ACQUISITION

An Investment Firm to Acquire Majority Stakes in Leelaventures Ltd.

The securitization and reconstruction firm JM Financial Asset Reconstruction Co. has reportedly been planning lately to acquire majority stakes by converting a part of the debt to equity in the popular Leelaventure Ltd. According to the reports, Leelaventure’s board has approved an enabling resolution and the deal has been confirmed on Monday. Earlier the investment firm had a stake of 26% in the holding company Mumbai-based hotel chain, but after the completion of the deal JM financial will hit the stake percentage of 75% that is the majority stake in the firm. The board of the holding firm has given its consent for issuing up to 125 crore equity shares with the face value of Rs 2 each in one or more tranches to JM financial. JM Financial Asset Reconstruction Company Limited is t...

Gaja Capital Attempts to Invest Rs 135 Cr in a Premium School Chain

11Jun By Gauri SinghNo Comments

FUNDING

Gaja Capital Attempts to Invest Rs 135 Cr in a Premium School Chain

A private equity investment firm Gaja Capital Partners is in advanced talking with the aim to invest an amount of $20 million (₹135 crore) in return of a stake in an educational and learning company called Kangaroo Kids Education Ltd (KKEL). The stake to be exchanged for the stated amount has still not been determined. A source claimed, “The companies are in the final legs of closing the deal, and the announcement is expected soon. Gaja Capital would make the investment from its $240-million Gaja Capital III fund.” Gaja Capital is a privately owned investment company which provides growth capital to ambitious entrepreneurs to build the future of Indian economy. The company specializes in investments in the smaller end of the middle market. The India-focused mid-market private equity ...

Ant Financial Raises $14 Billion From National And International Investors

8Jun By Gauri SinghNo Comments

FUNDING

Ant Financial Raises $14 Billion From National And International Investors

China’s biggest online payment platform Ant Financial Services Group which operates the Alipay mobile payment service, in its recent funding, has raised a huge amount of around $14 billion, with the aim to expand its platform across the globe and bring in latest technologies. Ant Financial which is controlled by Jack Ma is an Alibaba affiliated fintech firm. The investment of the firm is being reviewed as the biggest-ever single fundraising globally by any private sector company. In a statement, Ant Group told that the funding comprised of both U.S. dollar and Chinese yuan tranches, where the dollar share made up over $10 billion and the yuan tranche was mainly contributed by the existing shareholders. "Now, with the help of our partners, we are going to accelerate our strategy," Ant...

7Jun By Gauri SinghNo Comments

BUSINESS

HT Media Announces Investment up to Rs 400 Cr in Radio Business

The Delhi-based mass media company HT Media today has announced its plans for investment in its subordinate business ‘HT Music and Entertainment Company Ltd (HTME)’ with the aim to expand its FM radio business. The investment is reportedly priced up to Rs 400 crore. The music company manages two popular radio stations in India namely Fever FM and Radio Nasha. HT Music and Entertainment Company Ltd is also engaged in the management and organization of various events and shows in the country. Apart from this, HT Media runs 19 printing facilities across the country. Along with Hindustan Times and Hindustan, the company also publishes Mint. HTML’s revenue from the radio business increased by 35.7% to Rs158.7 crore in the financial year 2017-18, followed by new radio station launches. The...

Temasek and Ascendas-Singbridge to Invest 2000 Crore in India

7Jun By Lavina TolaniNo Comments

BUSINESS

Temasek and Ascendas-Singbridge to Invest 2000 Crore in India

Global Investment Company Temasek and Singapore's Ascendas-Singbridge are looking forward to investing Rs. 2000 crore in India's industrial real estate and logistics sector. It is interesting to note that Ascendas-Singbridge has launched an "Ascendas India Logistics Programme" which has Temasek as its principal investor. Speaking of the latest development, Ascendas said in its official statement, Temasek and Ascendas-Singbridge Group have jointly committed Rs 20 billion (approx Singapore dollar 400 million) to invest in logistics and industrial real estate in key locations in India. The investment strategy for the programme will be executed by "Ascendas-Firstspace" which is a platform established by Ascendas-Singbridge and Firstspace Realty in 2017. Interestingly, India's indust...

Unicorn India Makes its Sixth Investment in Kerala in Inntot Technologies

6Jun By Gauri SinghNo Comments

FUNDING

Unicorn India Makes its Sixth Investment in Kerala in Inntot Technologies

The early-stage investors Unicorn India Ventures have declared their latest funds investment in a Kerala-based Software Defined Radio (SDR) startup called ‘Inntot Technologies’. Unicorn India Ventures is a Bengaluru-based firm that provides funds to the startups at the very critical and initial stages, who have the potential and are ambitious to expand in the market. The company claims that they invest both, time as well as money, in the budding entrepreneurs who are passionate to bring a difference. Whereas, Inntot Technologies is a non-government tech-oriented company which offers software solutions for digital radio receivers to make it cost-effective. It was founded by Rajith Nair and Prasanth Thankappan in 2014. Inntot Technologies claims that it has raised funds to augment m...

Anil Ambani’s Son Anmol Ambani Raises 1700 Cr For Reliance Capital

2Jun By Lavina TolaniNo Comments

BUSINESS

Anil Ambani’s Son Anmol Ambani Raises 1700 Cr For Reliance Capital

Business Tycoon Anil Ambani's Elder Son, Anmol Ambani has successfully stricken his first deal after being promoted as director of Reliance Capital, the holding company of the Reliance group’s financial services businesses. Anmol has sold 60% stake of the company to a British Game developing company Codemasters for a whopping sum of Rs. 1,700 crore. While introducing his son to Reliance Capital's shareholders' meeting, Anil Ambani had said, Anmol has brought the group and specifically Reliance Capital tremendous luck since his induction on the board. And now with a mega-funding deal that has struck right on chord bringing 25 times gain the Reliance Capital Group, Anil Ambani's word definitely seem convincing. How has the Mega Funding Deal Benefitted Reliance Capital? &...

29May By NitishNo Comments

FUNDING

Mutual Funds Investment Platform Raises $1.6Mn Series A Funding

Mumbai, May 29, 2018: Orowealth, India’s first zero commission Direct Mutual Fund Platform has raised $1.6 mn in Series A funding. The funding round was led by Powerhouse Ventures with participation by Money Forward Inc., one of the largest publicly listed fin-tech companies in Japan; a prominent US VC Social Capital, under their Capital as a Service program; B Dash Ventures, one of the largest VCs in Japan; and other prominent angel investors including Anand Chandrasekaran, ex CPO Airtel and Dinesh Agarwal, Founder Indiamart. Existing investors M&S Partners and GSF also participated in this round. Post funding, Sri Peddu from Powerhouse Ventures will join the Board and Money Forward will take a Board observer role at Orowealth. This is the second round of funding for the ...

Softbank Will Launch New Vision Fund in “Near Future”

16May By Sheldan RungasamyNo Comments

News

Softbank Will Launch New Vision Fund in “Near Future”

Masayoshi Son, founder of SoftBank Group Corp, the world’s largest private equity fund, announced that he was keen to set up a second Vision Fund in the near future, despite still having capital remaining in its $100 Bn Vision Fund of May 2017. In a conference held in Tokyo, the business mogul stated that capital will be raised from existing institutional investors for this new fund. Although Son said that the fund will launch in the “near future”, he did however, specify that it won’t be before the coming six months. “Vision Fund 2 will definitely come,” said Masayoshi Son at the conference, although the actual size of the fund has been kept confidential. The Vision Fund I is currently controlled by Softbank Group founder and CEO Masayoshi Son and designated CEO of Softbank Visio...

19Mar By NitishNo Comments

Market

5 Best Ways to Start Saving Your Money

In the world of cut-throat competition and rising inflation, the quote “Money saved is money earned” fits best to our fast-paced uncertain lives. Human life is unpredictable; we never know what situation may come before us requiring huge financial expenditure. In such a scenario, our savings acts as the only “lifeboat” that let us cross the storms of life without facing a huge financial setback. It is a common mindset of people to consider saving, a burden or a restrictive action that involves cutting down on daily expenses. However, this is not the right approach to get going. Maintaining a budget does not necessarily involve quitting on expenses altogether. Rather, it is a constant practice which simply means prioritizing one’s financial goals and spending wisely on things that do not...

Tech Mahindra to set up Centre of Excellence in Toronto; Invests C$100 Mn

23Feb By Sabhyata AgarwalNo Comments

BUSINESS

Tech Mahindra to set up Centre of Excellence in Toronto; Invests C$100 Mn

The Indian Multinational provider of IT, Tech Mahindra said that it would invest 100 million Canadian dollar over five years to set up a centre of excellence in artificial intelligence (AI) and block-chain. The news comes in light when the Prime Minister of Canada Justin Trudeau is visiting India with his family to promote enhanced bilateral collaboration between India and Canada. The company said that the investment is planned to focus on emerging technologies that are making innovations in industries. It further will serve to smart cities projects and fintech companies. Previously, Tech Mahindra had invested in startups working under the domain of automation, internet-of-things and artificial intelligence. The centre of excellence which will be set up in Toronto, would develop b...

Home Rental Startup CoLive Raises $1.8 Mn From SAR Group And Others

23Feb By Sabhyata AgarwalNo Comments

FUNDING

Home Rental Startup CoLive Raises $1.8 Mn From SAR Group And Others

A shared living start-up CoLive has raised Rs 12 Crore ($1.8 million) in a recent round of funding led by Ncubate Capital Partners which is a Venture capital arm of SAR Group. The company has decided to utilise the funds in expanding its services, strengthening the technology infrastructure and enhancing the talent pool according to the reports. It is hoping to increase its operating area to 25 cities and already provides services in 75 properties in Bangalore, with 3000 beds in its inventory. CoLive, which is owned by CoLife Advisory Pvt. Ltd, is a Bangalore based startup that was founded in 2016. It provides branded and well serviced home near to educational institutions and prominent business areas and also supports the idea of shared rental living. The spaces provided by the comp...