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Yatra Online Private Limited (‘Yatra.com’), India’s leading online travel company, today announced receiving funding of Rs 200 crores from blue chip investors including Valiant Capital Management, Norwest Venture Partners (NVP) and Intel Capital. The investment will help accelerate Yatra.com’s growth plans by enabling the company to increase sales and marketing activities, expand its hotels and holidays business and selectively pursue strategic acquisitions. Based in Gurgaon, India, Yatra.com is a one-stop-shop for all travel-related services. A leading consolidator of travel products, Yatra.com provides reservation facility for more than 3,800 hotels across 336 cities in India and over 90,000 hotels around the world. Yatra.com partners with domestic and international airlines to offer flight-booking services at the best rates. […]
Mumbai-based ANI Technologies, which runs the 'book a cab' service Olacabs.com, has raised its first round of funding from Anupam Mittal and angel investor Rehan Yar Khan along with smaller investors, reports Techcircle.in. Anupam Mittal is online entrepreneur and the founder and Chairman, Managing Director of People Interactive, known for its flagship matrimony site Shaadi.com. Rehan Yar Khan is an angel investor and founder of Flora2000, an ecommerce site for flower retailing targeting global markets. Khan has also invested in Hyderabad-based MyZingo eCommerce Service, which runs BuyThePrice.com, an e-commerce site for consumer electronics and appliances. […]
air Capital, a US-based private equity group, has emerged as the missing link connecting the foreign shareholders, who according to Reserve Bank of India, acted in concert to acquire over 16% stake in Tamilnad Mercantile Bank. Earlier this week, RBI rejected a 2007 sale of shares by NRI businessman Sivasankaran to foreign investors including, FI Investments, Cuna Group, Kamehemaha Investors and Swiss Reinvestors—all incorporated in Mauritius—through which the investors arranged by Corsair Capital invested, sources said. Although the sale represented over 16% stake in the bank, none of the investors individually bought more than 5% as RBI does not permit any investor or investors in concert to hold more than 5% stake in a bank. […]
Private equity firm Avigo Capital Partners plans to buy 9.27% stake in Malvinder and Shivinder Singh-promoted Super Religare Laboratories (SRL), ahead of the diagnostics chain's maiden public issue. Avigo Capital Partners, which invests in small and mediumsized firms, will subscribe to around 53 lakh shares of SRL at Rs 189 a share through a Mauritius-based investment arm, according to ET calculations. After the IPO, Avigo's stake in the country's largest diagnostic services firm will drop to 6.6%. Achal Ghai, Avigo's founder & managing director, said on Monday: “We are confident about exponential growth of diagnostic services in India and overseas for SRL.” The private equity firm that has over $365 million under management , is currently investing from its third fund. In its draft prospectus filed with market regulator Sebi, SRL said it was looking to issue around 28 million shares in the public issue, including shares to be sold in a pre-IPO deal. […]
Venture capital firms Norwest Venture Partners and IDG Ventures India today announced an investment of Rs 22 crore in iProf Learning Solutions India , a company offering e-learning solutions, to help expand its centers and facilitate the market entry of its products. “The capital will be used to fuel aggressive expansion of iProf's e-learning centers (iProf iStudy Zones) in metros and tier 2/3 cities throughout India and abroad, and bring a large number of new iProf products to market,” a release today said. iProf offers the country's first personal education tablet and delivers study material in multiple formats such as audio-video lectures, animations, structured tests, etc. […]
LeapFrog Investments has announced a Rs. 62 Crore (US $14M) investment in Apollo Investment Ltd (AIL) – a leading East African insurance group. LeapFrog, launched with US President Bill Clinton in 2008, has become the world’s largest investment fund focused on insurance to under-served people. The fund has focused on India as a key market, and plans to make a major investment in the coming months. LeapFrog co-founder, Dr. Jim Roth, who leads LeapFrog’s investment efforts in India, says“We are on the cusp of a major deal in India. The Apollo investment demonstrates how LeapFrog supports strong management with capital and expertise. We help position a company to be a national leader by focusing on the opportunity mass market insurance presents for growth and profitability.” Roth added, “India is a key market for LeapFrog now and in years to come.” […]
Private equity firm Matrix Partners India today said it has invested Rs 50-crore as the sole investor in the first institutional round of funding of Maharana Infrastructure and Professional Services Private (MIPS). With the completion of this financing, Matrix India, Director, Amit Kapoor will join the board of MIPS, a press release issued here said. MIPS is one of the largest service providers to higher education institutes in North India. Currently, the group is running 20 courses with 10 campuses with more than 10,000 students. “MIPS has an innovative business model to address the needs of the country's fast growing education sector. […]
Debt-laden Kingfisher Airlines said on Thursday private lender ICICI Bank has acquired 28.26 million shares, or 5.68 percent stake, in the carrier on the conversion of compulsorily convertible preference shares. On March 31, the airline had issued 116.3 million shares, or 23.4 percent equity, to a consortium of 13 banks led by State Bank of India , to restructure part of its debt. Kingfisher also allotted shares to founder entities United Breweries (Holdings) and Kingfisher Finvest India. The airline has restructured its debt by converting almost 12 billion rupees of loans into equity and its current debt stands at about 60 billion rupees, Ravi Nedungadi, chief financial officer of UB Group, which controls Kingfisher, had told Reuters earlier this week. […]
DE Shaw, a global private equity (PE) and hedge fund company, is close to acquiring a 14.2 per cent stake in New Delhi Television (NDTV) for Rs 70 crore (Rs 700 million). It was in the headlines recently for its joint venture (JV) with Reliance Industries in the non-banking finance company space. According to sources close to the development, DE Shaw will acquire the stake through Merrill Lynch Capital Markets and Nomura Capital, in a series of bulk deals at Rs 76.55 per share. These shares are held by Goldman Sachs and GS Mace Holdings. […]
Singapore state investor Temasek Holdings is in talks to buy a part of U.S. private equity firm TPG Capital's holding in Indian commercial vehicle lender Shriram Transport Finance Co in a deal valued at 25 billion rupees ($561 million), the Business Standard reported on Monday. TPG, which owns 20 percent in Shriram Transport, plans to offload a significant minority stake in the non-banking finance company and has appointed Credit Suisse to advise it on the sale, the newspaper said, citing people familiar with the development. […]
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