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Most SoftBank Vision Fund investors want to join second fund: Masayoshi Son

19Jun By reutersNo Comments

Entrepreneurs Talk

Most SoftBank Vision Fund investors want to join second fund: Masayoshi Son

Most investors in SoftBank's $100 billion Vision Fund want to join the group's forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday, adding discussions would begin soon. The entrepreneur said in May a second fund would launch "soon", with SoftBank likely to be the only investor initially. Raising further funds is essential if Son is to extend his spending spree on late-stage startups around the world. Investors in the first fund include the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple Inc and Foxconn, formally known as Hon Hai Precision Industry Co Ltd. The Vision Fund will ramp up its employee numbers to 1,000 from 400 currently, Son said at the group's annual general meeting. The fund's head, Rajeev Misra, said he sees inv...

Bollywood Actor Ajay Devgn to infuse Rs 600 crore in his multiplex chain NY Cinemas

17May By NitishNo Comments

BUSINESS

Bollywood Actor Ajay Devgn to infuse Rs 600 crore in his multiplex chain NY Cinemas

Bollywood actor Ajay Devgn is planning to invest Rs 600 crore in his multiplex venture NY Cinemas Llp (based on the names of his children Nysa and Yug Devgn) over the next five years. The 50-year-old actor said that he is aiming to open at least 250 screens across the Northern and Western parts of India. Devgn added that the first launch of his multiplex venture is slated in June in Ratlam, Madhya Pradesh. The NY Cinemas will target people who don't have access to modern theatres and live in remote parts of the country, said Ajay Devgn. Although he has not revealed much about the project but said that it will be unlike any other multiplex in the market. Till now, the actor has bought two single-screen theatres in Uttar Pradesh's Hapur and Ghazipur. According to Rajeev Sharma, Chi...

25Apr By PriyankaNo Comments

FUNDING

Ninjacart Raises $89.5 Million funding from Tiger Global

After CEO Lee Fixel exit, Tiger Global takes first investment opportunity in Indian B2B startup Ninjacart. America based venture capital invested $89.5 million in agritech startup Ninjacart as per the data shows in regulatory filings from registrar of companies (RoC). NinjaCart which delivers and market agricultural produce given 26.5% stake to Tiger Global. After this round of funding, Ninjacart valued close to $320 million. This is the biggest one time investment by Tiger global in an Indian startup, previous large initial investments were Ola ($57.5 million), Delhivery ($43.6 million) and Hike ($43.2 million). Founded in 2015 by Thirukumaran Nagarajan, Ashutosh Vikram, Kartheeswaran K.K., Sachin Jose and Sharath Loganathan, NinjaCart connects farmers to end retailers an...

16Apr By NitishNo Comments

FUNDING

Kuvera Raises $4.5 million in Series A funding

Kuvera, a mutual fund investment platform raises $4.5 million Series A funding from Eight Roads, the investment arm of Fidelity International. This company will use funding to build its team and expand its product portfolio and Mr. Alokik Advani, head of Eight Roads Fintech Strategic Investments, will join the board of Kuvera. Bengaluru based Kuvera manages more than Rs 3,000 crore in mutual fund investments using artificial intelligence (AI) to help customers secure better returns and enhance its product and service range to reduce the costs. Kuvera is a zero-fee mutual fund investment platform that provides an option to set investment goals. “With Eight Roads as an investor, we will continue to innovate and expand our advisory offering across financial products. We have an ...

Royal Enfield to invest $100 million in 2019-20

2Apr By AnkitaNo Comments

Automobile

Royal Enfield to invest $100 million in 2019-20

Eicher Motors, the subsidiary of Royal Enfield has said that they are having $100 million investment expenditure plan for Royal Enfield in FY19-20 The investment will use mostly to set up and start the new production plant. The company said, "the second phase of our Vallam Vadagal plant near Chennai, Tamil Nadu is progressing well and is expected to commence commercial production in the second half of this financial year. The construction of the Technology Centre in Chennai is also nearing its completion". "With a wide distribution network in India, growing international presence and building state-of-the-art capabilities in product development, Royal Enfield is well on its way to grow the middleweight motorcycle segment globally in the coming years," company added. In FY 2018...

1Apr By Press Trust of IndiaNo Comments

BUSINESS

Titan increases stake in CaratLane

Tata group firm Titan has increased stake in its jewellery subsidiary CaratLane to 69.47 percent with an investment of Rs 99.99 crore. "In response to offer of shares made by Carat Lane Trading Private Limited, a subsidiary of the company, the company has subscribed to 30,48,780 additional equity shares of CaratLane thereby increasing its stake in CaratLane on March 30, 2019," Titan said in regulatory filing on Sunday. CaratLane is in the business of manufacturing and sale of precious and semi-precious jewellery through its e-commerce business and also through retail showrooms. "...the shareholding of the company in CaratLane has increased from 66.39 per cent to 69.47 percent," the company said. CaratLane registered a revenue of Rs 292.5 crore for the year ended March 2018. ...

The Beginner’s Guide to Budgeting, Made Simple

27Mar By AnkitaNo Comments

ANALYSIS

The Beginner’s Guide to Budgeting, Made Simple

Budgeting Guide Made Simple The purpose of budgeting is to make simple what seems like an eternal process, and by an eternal process I mean stressful, unorganized, and feeling like there’s no financial literacy to be found. The downside about learning how to budget is that there are so many resources about budgeting. It can be difficult to narrow down which one is an exact fit. Whether you’re looking to save for an emergency fund or fund your new brokerage account, this article will be of some help to you. The Tools Anything involving finances can be a headache, and oftentimes in terms of finances, your budget may be a mess, and that’s okay, too. You have to begin somewhere! Decide What Your Goals Are Before tracking your income, figure out what you’d like to achie...

BlackRock acquires eFront in $1.3 billion Cash

25Mar By AdityaNo Comments

ACQUISITION

BlackRock acquires eFront in $1.3 billion Cash

NEW YORK & PARIS- BlackRock today announced that it has made a binding offer and entered into an exclusive agreement, subject to the conditions below, to acquire 100% of the equity interests in eFront, the world’s leading end-to-end alternative investment management software and solutions provider, from private equity firm Bridgepoint and eFront employees, for $1.3 billion in cash. The combination of eFront with Aladdin, BlackRock’s investment operating platform used by more than 225 institutions around the world, will set a new standard in investment and risk management technology. eFront, which serves more than 700 clients in 48 countries, is a comprehensive technology solution for managing the alternatives investment lifecycle, from due diligence and portfolio planning to pe...

Future Retail will Open new Big Bazaar outlets, Invest 200 Cr

10Mar By AdityaNo Comments

BUSINESS

Future Retail will Open new Big Bazaar outlets, Invest 200 Cr

Future Retail would spend Rs 150-200 crore a year for expansion of Big Bazaar stores in the eastern region, a company official said. The company would open around 25 such stores from April this year in eastern India, the official said. "We have a pipeline of around 25 Big Bazaar stores in the eastern region. Each store requires an investment of around Rs 2,000 per square feet for interiors only," CEO of eastern region of Future Retail Manish Agarwal told Pixr8 News. Agarwal said the eastern region contributed 25 per cent of the national sales, adding that West Bengal accounted for 30 per cent of the revenues from the east. https://pixr8.com/business/future-group-to-open-10000-small-stores-aims-revenue-jump-to-rs-60-cr/ The company would open 7-8 stores in Kolkata and its s...

Softbank invests Rs 2,800 cr in Indiabulls Housing Fin’s associate OakNorth

8Feb By Press Trust of IndiaNo Comments

FUNDING

Softbank invests Rs 2,800 cr in Indiabulls Housing Fin’s associate OakNorth

Indiabulls Housing Finance Friday said Japan's Softbank is investing Rs 2,800 crore of equity capital in its associate OakNorth, a commercial bank in the UK. Indiabulls Housing Finance said OakNorth is the fastest growing new bank in Europe, leveraging technology tools for fast and efficient disbursals to the small and medium-sized enterprises (SME) sector. The bank has no physical branches. "The current loan book of OakNorth is Rs 21,390 crore and the bank has no delinquencies as on date," the company added. OakNorth was seeded by Indiabulls Housing in October 2015 with Rs 650 crore to own a 40 per cent controlling stake in the bank. Last year, Indiabulls sold a part of its holding to the government of Singapore for Rs 900 crore. Shares of Indiabulls Housing Finance were tr...

Sony looking to Acquire Stake in Zee Group

27Jan By AnkitaNo Comments

ACQUISITION

Sony looking to Acquire Stake in Zee Group

Sony is reportedly in talks to acquire a stake in Indian media conglomerate Zee Entertainment Enterprises. In November 2018, Indian media conglomerate Zee Entertainment had decided to sell half of its promoter holding of about 42 percent in flagship Zee Entertainment Enterprises Ltd (ZEEL), following a strategic review. The company Zee Entertainment Enterprises Ltd is owned by Subhash Chandra. The media conglomerate hired Goldman Sachs as its investment banker and LionTree as its international strategic adviser to help sell the stake as part of a “strategic review of its businesses in view of the changing global media landscape”. Indian press, including CNBCTV18, has reported that Sony is among a number of suitors for the stake with other possible bidders including Comcast and Ch...

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

19Jan By AdityaNo Comments

ACQUISITION

India’s Mutual Fund & Stock Investment Platform Orowealth Acquires the WealthTrust Platform

Orowealth, one of India's leading Direct Mutual Fund platforms, recently announced that it has acquired the WealthTrust platform, including the product and all its users. Orowealth is a one-stop solution for all your investment needs from investing in stocks and direct mutual funds, to financial planning, goal advisory and more. WealthTrust, also one of the India's fastest growing 'Zero Commission Wealth Management' platforms, always aimed to make investment simple and hassle-free. Mr. Nisarg Gandhi, co-founder and CEO of WealthTrust said to Pixr8 team that we evaluated several partners before finally joining forces with Orowealth, which stood out as the best option for their users. The two companies now have a combined user base of 3 lakh registered users, and their assets...