Saturday, April 13

Tag: Sunil Munjal

Nykaa Raises 75 Crore, Valuation is Close to 3000 Crore
FUNDING

Nykaa Raises 75 Crore, Valuation is Close to 3000 Crore

Mumbai based Nykaa.com, an online beauty retailer has raised ₹75 crore in its latest round of funding from the existing investors. The current funding was the part of ₹170 crore investment round. The first amount was raised around 95 crores. Now the current valuation of the company is close to ₹3,000 crore. This is the fourth round of investment for the company. The total funding amount was raised about ₹255 crore at a valuation of 3000 crores. Also, three previous investors in Nykaa has sold their parts of equity including TVS Capital Funds. Nykaa acquires 33% share of online beauty market, clocked ₹570 crore in net revenue in FY18. The latest funding amount will use to expand their offline presence from current 17 stores to about 55 stores by FY19-end. Their products are p...
Hero Group Chairman Sunil Munjal Invests Rs 100 Crore in Aavishkaar Bharat Fund
FUNDING

Hero Group Chairman Sunil Munjal Invests Rs 100 Crore in Aavishkaar Bharat Fund

Hero Enterprises Chairman Sunil Kant Munjal today committed an investment of Rs 100 crore in a new fund of social venture capital firm Aavishkaar -- Aavishkaar Bharat Fund. The fund is sixth by Aavishkaar and a Sebi-registered category II alternative investment fund (AIF). "At this stage in India's evolution, it is clear that for the entire country to develop, rural areas and underprivileged citizens must become part of the economic miracle, not through charity, but through real opportunities," Munjal said in a statement. The fund, targeting a corpus of Rs 2,000 crore will invest in businesses that deal in under-served population in sectors such as agriculture, financial services, healthcare, waste and sanitation, renewable energy and logistics and supply chain. Aavishkaar Foun...
Adventz Group Declined To Acquire Paytm stake, Sunil Munjal Still in Race
News

Adventz Group Declined To Acquire Paytm stake, Sunil Munjal Still in Race

Saroj Poddar-controlled Adventz group today said it was approached for buying a minority stake in Paytm, but has decided against it. If the deal were successfully performed then it will reportedly value the Vijay Shekhar Sharma-led firm at about USD 5-5.6 billion, an increase from USD 4.8 billion valuations in August 2016. "We were approached by a few merchant bankers for a minority stake in Paytm. But we have decided not to go ahead with it," a top official of the group told Pixr8 today. According to sources, Saroj Poddars son Akshay Poddar was negotiating the deal. Valuation is the key reason for not buying into the leading wallet company, the sources indicated. The deal was offered Rs 50 crore worth secondary stock at Rs 8,000 per share. According to media reports, indust...