Equity Fund Investments
$100-M from Naspers & Tencent unit
South African media giant Naspers has
led an investment of USD 100 million in food
delivery firm Swiggy along with new investor
Meituan Dianping, which is backed by Tencent.
The deal is reported to have attached a
pre-money value of USD 600-650 million to the
company compared to the USD 400 million when
Naspers had led an USD 80 million investment in
buys Bangalore office asset from Ghodawat Group
Xander Group has bought an office building of
around 250,000 sq. ft at Embassy Golf Links
Business Park in Bengaluru for INR 350 crore
from Sanjay Ghodawat Group. The office building,
Pinehurst, is fully leased out to Fidelity
India. Colliers advised the Ghodawat
Group on the sale process.
Contract management s’ware maker Icertis raises $50-M
Cloud-based enterprise technology startup Icertis has
raised a $50 million (about INR 321 crore) fourth round
led by Meritech Capital Partners with PSP Capital
Partners and Cross Creek Advisors also participating.
The Seattle and Pune-based contract management software
provider's existing list of backers, which includes
Eight Roads Ventures, B Capital Group (the venture
capital firm founded by Facebook co-founder Eduardo
Saverin), Ignition Partners and Greycroft, have also
invested in the new round. The latest round also brings
Icertis' total funding to $96 million, with the new
equity infusion valuing the company at about $500
The company will use the proceeds to expand its
presence, further build its team, and go deeper into
creating AI-based products.
Institute of Medical Sciences attracts Rs.138-Cr
investment from CDC Group
Blue Sapphire Healthcares Pvt Ltd, which
operates the "Asian
Institute of Medical Sciences"
branded healthcare chain in North India, has
attracted an INR 138 crore equity investment
investment) from CDC Group. Veda Corporate
Advisors acted as the exclusive financial
advisor to the company on this transaction. Alpha Partners
were the legal advisors to
the promoters and the company.
Established in 2010, Asian Institute of Medical
Sciences commenced operations with a 350-bed
facility at Faridabad focusing on key tertiary
care specialties including Cardiology, Oncology,
Nephrology, Critical Care and Orthopaedics. Over
the last three years the company has further
expanded the business with four more hospitals
at Dhanbad, Moradabad, Sambhal, Yamuna Vihar and
three primary healthcare clinics in & around
Faridabad. As part of the next phase of
expansion, it intends to add 1,000 more beds
with new hospitals being planned across states
of Delhi NCR, Haryana, UP, Bihar & Jharkhand.
From the Venture
Intelligence PE-VC Deal Database:
In Jan-14, Asian Institute of Medical Sciences
had attracted a INR 100 Cr investment from
Orbimed. (Subscribers to the database can login
to view the valuation, deal structuring and
other transaction details.)
Group’s used cars biz arm raises $15-M from
Used vehicle automotive services provider
Mahindra First Choice Wheels Ltd (MFCWL) has
raised USD 15 million (INR 100 crore) in fresh
funding from existing investors. The investment,
in the form of primary capital, valued the
company at USD 250 million pre-money. Among the
investors in the company are hedge fund Valiant
Capital and US-based digital marketing and
software company, Cox Automotive.
MFCWL will use a portion of the fresh capital to
expand its franchise dealer network and invest
further in new technology-enabled products and
services for online customers.
Fusion Microfinance raises
Rs.80-Cr more from existing investors
NCR-based Fusion Microfinance has raised INR 80 Crore from existing
shareholders including Creation Investments, Oikocredit and GAWA
Capital. The capital was raised in a combination of preference shares
and allotments to employees. The foreign holding in the firm has now
risen to 88% from 85% earlier.
From the Venture Intelligence PE-VC Deal Database:
In Aug 2016, Fusion Microfinance had raised INR 161.16 Cr from Creation
Investments, GAWA Microfinance, Oikocredit and BIO. .(Subscribers to the
database can login to view the valuation, deal structuring and other
Life Sciences raises Rs.80-Cr from Quadria
Strand Life Sciences,
a bioinformatics and integrated and specialized
diagnostics company, has raised INR 60-80 crore
from private equity firm Quadria Capital.
Healthquad Fund and Singapore-based Heritas
Venture Fund, which is a limited partner of
Quadria, also participated in the round. With
this fundraise, Strand aims to provide
personalized diagnostic techniques and
specialized in-house tests to patients.
Strand Life Sciences is a business combination
of Strand and Triesta Sciences, which was
earlier part of Healthcare Global Enterprises
Ltd, an oncology hospital chain.
Partners buys Repco Home Finance shares worth
Apax Partners, via Apax Global Alpha Limited,
has bought 650,000 shares (1.04% stake) on BSE
of Repco Home Finance Ltd. on Feb 2, 2018. The
purchase, at INR 595 per share, aggregated to
INR 38.68 Cr.
From the Venture
Intelligence PE-VC Deal Database:
PE Investors invested in Repco includes
Wolfensohn & Co. (exited with 2.08x return in
Apr 2014), Carlyle (exited with 6.10x return in
Jul 2014) and Creador Capital (exited with 3.00x
return in Oct 2014).
Job ads platform Joveo
raises $5-M led by Nexus Ventures
Hyderabad- and San Francisco-based
runs a job advertising technology platform, has
raised USD 5 million (about INR 32 crore) in a
Series-A round from investors led by Nexus
Venture Partners.The company plans to use the
funds to accelerate its product offerings,
partnerships and scale up its artificial
intelligence (AI) layer.
Joveo was founded by Kshitij Jain who earlier
founded Mobolt, an apply technology platform
(acquired by Indeed, Inc). It has 10 Fortune 500
companies using their offering.
Pratilipi receives $4.3 M from Omidyar, others
Nasadiya Technologies’ run self-publishing platform
has raised USD 4.3 million in Series A round of funding led by Omidyar
Network with participation from existing investors Nexus Venture
Partners, Atul Goel, Contrarian Capital and Times Internet Ltd and new
investors Shunwei Capital and WEH Ventures. The new funds will be used
to expand the team in the areas of product, technology and data science
and also for further growth and partnerships. Incorporated in March
2015, Pratilipi currently operates in 8 Indian languages.
Preventive healthcare startup
Healthi raised $3.1 M from Montane Ventures
Bengaluru-based digital preventive healthcare startup, healthi has
raised USD 3.1 million in a funding round led by Montane Ventures. The
proceeds will be used by Healthi to sign up about 1.4 million users in
Healthi, founded in 2014 by Krishna Ulagaratchagan and Rekuram
Varadharaj (RV), alumni of Stanford (US) and INSEAD (France and
Singapore) respectively, empowers its users to make smart choices about
their health so that they can avoid chronic illnesses. It serves users
in over 180 Indian cities and claims to have grown at an impressive
cumulative growth rate of 3.5X over the last three years.
Montane Ventures is an $150 million early-stage
technology focused fund floated by former Footprint Ventures co-founder
co CollegeDekho raises $2-M from ManCapital,
Ed-tech platform CollegeDekho has raised USD 2
million from ManCapital, GirnarSoft and other
investors in its third round of funding.
CollegeDekho will use the funds to further
strengthen its technology, expand collaboration
with international colleges and for marketing.
CollegeDekho's platform allows students to
compare colleges, select courses, determine
cut-offs for their desired courses and access
other career-related content.
Student housing startup
Placio raises $2-M from Prestellar Ventures
Placio, a Noida-based
student housing startup, has raised pre-series-A
funding of USD 2 million from Prestellar
Ventures. The company will use the funds to
provide superior student living experience in
India and South-East Asia. Placio will also
leverage on the network and experience of the
fund in redefining student hostel hospitality
sector by increasing the existing capacity 20
times this year. Placio was incubated at The
Amity Business Incubator.
Holiday Rental startup
HeyHolidays raises $1-M from Hampton Capital
Bengaluru-based holiday rental platform HeyHolidays has raised USD 1
million from Hampton Capital.The funds will be used for expanding
company’s global footprint with an increase in demand shown by its
Indian outbound travellers.
HeyHolidays launched in India in late 2016 by Kenny Blatt, Stan Dong and
Nitesh Shetty. It uses the idea of sharing economy to offer short-term
accommodations from urban cities to resort destinations to its
Jupiter Capital buys 66% in TRC
Financial Services for Rs.5.92 Cr
Jupiter Capital has acquired 33 lakh shares (66% stake) in
publicly-listed NBFC TRC Financial Services for INR 5.92 crore - via an
contractual agreement and an open offer at INR 18 per share. Poovayya
& Co was the legal advisor to Jupiter Capital on the transaction.
Chartered Capital and Investment was the manager to the offer.
Unicorn India to invest in 3
Unicorn India Ventures has signed a pact with the Kerala Startup Mission
to invest in three Kerala-based startups: robotics firm GenRobotics,
smart appliances maker SectorQube and consumer firm Perfect Fit.
Indiabulls PE arm buys Gurgaon office
building from HINES
Indiabulls’ private equity arm has acquired an
entire commercial building with fully leased
2.35 lakh sq ft office space on NH-8 in Gurgaon
from fellow PE-RE investor and developer Hines
India for an estimated INR 200 Cr. The project,
Sky View Corporate Park, is a multi-phase
development planned on a 21-acre land parcel in
the National Capital Region (NCR). Indiabulls
Asset through its fund Indiabulls Dual Advantage
Commercial Assets Fund has acquired 100% equity
in the Special Purpose Vehicle (SPV) owning the
startup Shape India raises $200-K
Physical education organization
Shape India has
raised USD 200,000 in a Pre-Series A funding
round, from Sandeep Mathur, ex-CEO of Oracle
India. Shape India offers a customized
curriculum and a structured approach to get
children physically fit. It will use the
investment for going digital.
provider Creator’s Gurukul raises funding
Co-working space provider Creator’s Gurukul has
raised a fresh round of funding from investors
including Sandeepan Senapati, a London-based
promoter of the TechBridge Labs. Existing
investors who participated in the latest funding
round are banker Rohit Nanda and Smarak Bhuyan,
an investor based out of Silicon Valley.
The company will use the fresh capital to expand
its team and fund the launch of more centres.
The company is also going live with its flagship
centre in Millennium City, Gurugram.
Ethnic cuisine seller
Food Memories raises funding
‘Food Memories’, a marketplace for authentic and
geographically unique Indian foods, has raised
seed investment from a consortium of 8 investors
led by Delhivery cofounders Bhavesh Manglani and
Suraj Saharan along with Darshan Upadhyay and
Sanjay Notani, Partners at Economic Laws
Ethnic foods e-tailer Food
Memories raises funds from Delhivery co-founders, others
Ahmedabad based startup 'Food
Memories', a marketplace for authentic geographically unique
Indian foods, has secured seed investment from a consortium of 8
investors led by Delhivery co-founders Bhavesh Manglani & Suraj Saharan
as well Economic Laws Practice Partners Darshan Upadhyay & Sanjay Notani.
Additionally, Sachin Khandelwal, Founder of Bangalore-based Corporate
Gifting major - Kirti Sales & Services, has joined the investor group.
The other investors in the seed round include Vaishali Patel, Vivek
Pabari, Prateek Nijhawan, Kapil Bhushan and Abhishek Bhalla
Established in September 2016 by Dr. Harmitsingh Sikh, Food Memories
aggregates iconic brands and delicacies of Indian food industry and
delivers to customers around the globe.
tyre retailer Tyremarket.com attracts investment
from UK entrepreneur
Online retailer Tyremarket.com, led by former
Siemens executive Sanjeev Agrawal, has attracted
an investment from UK online tyre retailer
Blackcircles.com’s founder Michael Welch.
Full Circle Partners is advising
Tyremarket.com for its next funding round.
private equity professionals back realty startup
Private equity and hedge fund professionals S.
Sriniwasan, MD of Kotak Investment Advisors,
Ashish Khandelia, director of KKR, Shanti
Ekambaram, president of consumer banking at
Kotak Mahindra Bank, and TS Sivashankar, MD of
US-based Rohatyn Group, have turned strategic
investors for real estate data analytics
The Mumbai-based startup had closed a USD 3
million Series A funding from the Daily Mail
Group in June 2015. The investment was led by
DMGI, the investment group run by the Daily
Mail, with participation from Real Capital
Analytics, a DMGI portfolio company that works
Aviom Housing Finance
raises Rs.15-Cr from Insitor
Delhi-based Aviom India Housing Finance has
raised INR 15 crore through a primary infusion
from Insitor Impact Asia Fund in its Series-A
round of funding. Unitus Capital was the
exclusive financial advisor to Aviom for this
transaction. The housing finance company
provides loans to low-income individuals and
families, and currently has 14 branches in
Rajasthan and Madhya Pradesh.
Aviom plans to use the funds to expand its
presence in tier-II and tier-III towns as well
as for expanding into other states. Aviom
intends to raise another INR 100 crore in the
next 6 months.
exits Axio Bio Solutions with 7x return
GVFL Ltd has made an exit with a multi-bagger
return of 7 times of its investment in a biotech
solutions provider Axio Bio Solutions. Against
its investment of slightly over INR 1 crore in
tranches since 2010, GVFL realised INR 7 crore
with about 39% internal rate of return.
The secondary sale exit happened as part of
Axio’s Series B round of funding of USD 7.4
million (approx INR 47 crore) led by Ratan
Tata’s Fund RNT Associates. Other existing
investors Accel Partners and IDG Ventures also
participated in this round.
acquires digital tech services co LiquidHub
French IT services and consulting company
Capgemini has acquired LiquidHub, a
Hyderabad-based digital technology services
company. The cost of the acquisition is reported
to be twice the revenues of LiquidHub, which is
around 400 million euros, going by its 2017
revenue. ChrysCapital backed LiquidHub employs
around 2,500 employees globally, of which 1,500
are located in Hyderabad, Bengaluru and Gurgaon.
From the Venture
Intelligence PE-VC Deal Database:
In March 2014, ChrysCapital had invested $53
million in LiquidHub.
Private Equity/Strategic Investments
ICICI Bank buys 10%
stake in Tapits Technologies for Rs.99 Lakh
ICICI Bank is acquiring a 9.9% stake in for INR
99 lakh though acquisition of 100 equity shares
and 999 CCCPS in Tapits Technologies. Tapits
enables merchants to accept digital payment from
customers through biometric authentication using
an Aadhaar Enabled Payment System.
Logistics software co FarEye raises Rs.62-Cr
from Deutsche Post DHL Group
Delhi-based logistics software startup FarEye
has received INR 61.5 crore in Series C
financing from Deutsche Post DHL Group. FarEye
issued 73,632 Series-C shares to Singapore-based
23i in an investment led by DHL’s SVP and global
head of M&A, Dietmar Nienstedt.
FarEye helps logistics companies manage their
supply chain and deliveries. The company had
earlier raised funds from SAIF Partners and
Indian Angel Network.
BCCL invests $7.8 M in
preventive healthcare startup CallHealth
Hyderabad-based preventive healthcare startup CallHealth has raised
about USD 7.8 million from Bennett, Coleman and Co Ltd (BCCL).
CallHealth will invest the funds in customer education and engagement to
aid its next phase of growth and brand building.
CallHealth was founded in 2013 by Sandhya Raju. It provides doctor
consultations, medicines delivery, diagnostic tests, nursing care and
physiotherapy, etc.through a team of specialists and trained medical
Tetra Soft India, a Hyderabad-based IT services company, has also
proposed USD 1.25 million investment in CallHealth. Another firm, Bijman
Projects Pvt. Ltd, is looking to contribute USD 1.56 million to the
Bharat Forge invests Rs
30-Cr in EV startup Tork Motors
Publicly-listed auto components company Bharat
Forge Ltd will make a strategic investment of up
to INR 30 crore to acquire 45% stake in Pune-based
electric vehicle (EV) start-up Tork Motors.
Bharat Forge will acquire 4,736 equity shares of
INR 10 each at a premium of INR 21,103 each and
2,841 preference shares of INR 100 each at a
premium of INR 21,013. Tork is an electric
drivetrain company focused on electric
two-wheelers and premium electric motorcycles.
Entertainment invests Rs.27-Cr in Nazara Games
Turtle Entertainment, the IP owner of Electronic
Sports League (ESL), has bought a minority stake
in Mumbai-based gaming company Nazara Games for
INR 26.5 crore. This follow investments of INR
330 crore and INR 180 crore from IIFL and Rakesh
Jhunjhunwala respectively in the IPO bound
player Letstransport raises $2-M from new
Intra-city logistics provider Letstransport.in,
operated by Bangalore-based Diptab Ventures Pvt
Ltd, has raised about USD 2 million from new
investors KC Investments (Singapore), CBC Co
(Japan), Fex Inc and MSIVC 2016V (Mitsui
Sumitomo Insurance Company) as part of first
tranche Series B investment (in Dec 2017). The
latest investment values the company at INR 945
crore - about 11 times higher than the last
From the Venture
Intelligence PE-VC Deal Database:
In Jan 2017, Rebright Ventures, GMO Ventures
Partners and NB Ventures invested INR 19.84
crore. In Aug 2015, Rebright Ventures had
invested INR 8.24 crore in Letstransport.
acquire 26% in personal care products maker
Emami Ltd has made a strategic investment in
Brillare Science Pvt. Ltd through CCPS, which,
on conversion, will result in 26% equity stake
in Brillare. Brillare offers premium hair and
skin beauty products, which are sold by experts
in professional salons. For the FY 2016-17,
Brillare had a turnover of INR 13 crore.
HT Media picks up 5.2%
in Canadian ed-tech co betterU
HT Media Ltd is to acquire a 5.2% stake in
Canada-based betterU Education Corporation. HT
Media is to buy upto CAD 10 million in the
common shares of betterU at VWAP (Volume
Weighted Average Price) quoted on TSXV, stock
exchange). The investment will be made in 8
quarterly tranches of CAD 1.25 million (approx.)
each, during deal tenure of 2 years. The first
tranche of CAD 1.25 million is being made at CAD
0.39 per share.
betterU is an education technology company with
business in India and China, among others. The
company has a market capitalization of CAD 22.78
million (as on 31st January 2018) with revenus
of CAD 16,225 for 6 months ended 30th Sep 2017.
IDFC Alternatives buys
IL&FS’ Madhya Pradesh solar project
Vector Green Energy, a SPV formed by IDFC Alternatives’
India Infrastructure Fund II to house its renewable
energy investments, has bought a 40 megawatt (MW) solar
power project in Madhya Pradesh operated by IL&FS
Energy. The project, named Malwa Solar Power Generation
Ltd, was awarded to IL&FS Energy Development Co. Ltd by
Solar Energy Corporation of India as part of the
Jawaharlal Nehru National Solar Mission (JNNSM) and was
commissioned in 2015.
Prestige, HDFC Capital in Rs.2,500-Cr platform deal
for housing projects
Prestige Estates Projects has entered into a strategic
partnership with HDFC Capital Advisors to support its
business in the mid-Income and affordable housing
segments. The real estate platform will have a capital
of INR 2,500 crore, in equity and debt.
The primary focus of this platform will be on expanding
the builder's residential business by identifying
strategic land parcels which have the potential for
developing into large-scale residential projects in the
mid- income segment.
GMR buys 11% addl stake
in Hyderabad airport for Rs.484-Cr
GMR Airports Ltd (GAL), a subsidiary of GMR
Infrastructure Ltd, is to acquire 4,15,80,000 shares at
face value of INR 10 each, representing 11% equity stake
in GMR Hyderabad International Airport Ltd (GHIAL)
collectively from Malaysian Airports Holding Berhad and
its subsidiary MAHB (Mauritius) Pvt Ltd, for a
consideration of USD 76 million (INR 484 crore).
Post-acquisition, GAL’s stake will rise to 74%. The
remaining stake is held by the Airports Authority of
India 13% and Telangana government 11%.
acquires Kalinga Hospital for Rs.200-Cr
BR Life, a leading healthcare services firm, has
acquired Odisha’s first super-specialty
corporate health centre, Kalinga Hospital in
Bhubaneswar, for about INR 200 crore. The
Kalinga Hospital is built in 10 acres of land,
allotted by the Odisha Government.
Value Chain to buy Innovative Logistics for
Stellar Value Chain Solutions, a logistics
company backed by global private equity firm
Warburg Pincus, is acquiring Kolkata-based
Innovative Logistics Services in an all-cash
deal worth a tad less than INR 100 crore.
Innovative Logistics will support Stellar's
foray and growth into express logistics, apart
from adding more than 100 customers and
bolstering its network in eastern India.
Innovative Logistics, a seven-year-old company,
expects to post revenue of INR 160 crore and
earnings (before Ebitda) of INR 10 crore in
FY18. It has offices in 41 cities and its
delivery network spans 2,500 locations, six hubs
and 11 mini-hubs.
JFC Finance's Rs.100-Cr bid to
acquire Palogix Infrastructure receives lenders approval
JFC Finance (India) Ltd's bid to acquire the insolvent Palogix
Infrastructure, a 20-year old firm in railways logistics has received
the approval of the target company’s lenders including ICICI Bank and
HDFC Bank. JFC Finance, the Delhi-based non banking firm, has proposed
to acquire close to 80% in Palogix for INR 100 crore. Other lenders to
Palogix including Andhra Bank, Indian Overseas Bank and IFCI Venture
Fund have approved the resolution plan, which comes with 29% haircut.
The logistics firm owes INR 150 crore to creditors. The resolution plan
includes setting up of a special purpose vehicle for the acquisition,
operation and management of the firm. Palogix was referred to the
bankruptcy court by ICICI Bank in May 2017.
US-based V ClinBio
acquires 49.98% in Cellix Bio
Newark, NJ (USA)-based V ClinBio Inc. has
acquired a 49.98% equity stake in
Cellix Bio, a
Hyderabad-based drug design and development
company. The transaction strengthens the
companies’ existing collaboration focused on
advancing therapies across multiple drug
categories. Founded by Mahesh Kandula, Cellix
has 143 Global Patents, 64 issued U.S Patents
and a robust pipeline of pending patents using
its proprietary technology platform “Synergix”.
V ClinBio expects to soon file an Investigation
New Drug Application (NDA) with the U.S. Food
and Drug Administration (FDA) for CLX-106 and
CLX-103 to treat relapsing-remitting multiple
sclerosis (RRMS) and ulcerative colitis (UC)
respectively. Both CLX-106 and CLX-103 were
generated from Cellix Bio’s proprietary Synergix
drug delivery platform, which unlocks the
clinical and regulatory potential of existing
therapies across multiple drug categories and
disease indications. Synergix offers biopharma
companies the potential to shorten development
times and reduce the risk of clinical failure.
The new molecular entities allow for flexible
regulatory paths, including 505(b)(1) and
acquires calcite & dolomite biz of Vimal Microns
France-headquartered industrial minerals MNC
Imerys - via Imerys Minerals (India) Private
Limited - has acquired 100% stake in Mehsana, GJ-based
Vee Micron Minerals Limited. Under the deal,
Vimal Microns Limited
agreed to sell its business of manufacturing,
sales, marketing and trading of calcite &
dolomite to Vee Micron Minerals Limited, prior
to the latter’s acquisition by Imerys. J
Sagar Associates was the legal advisor to
Vimal/Vee are considered pioneers in the
manufacturing of fillers/extenders in micronised
form, serving plastic, paint, paper,
construction chemicals and rubber industries,
having multi-location production and operation
units within and outside India.
acquires 70% in Orissa Slurry Pipeline
Numetal Mauritius, a consortium believed to be
spearheading the Ruia family's bid to retain
Essar Steel, has signed a binding agreement with
India Growth Opportunities Fund floated by Srei
Infrastructure to buy 70% equity in Orissa
Slurry Pipeline India (OSPIL), in a deal that
gives it an edge in the race for Essar Steel,
put up for sale under Insolvency and Bankruptcy
Code (IBC). OSPIL owns a 253 km slurry pipeline,
which is a lifeline for Essar Steel, carrying
iron ore from mines to its pellets plant in
Paradip. Essar Steel owns 30% equity in OSPIL
whose slurry pipeline connects iron ore mines in
Dabuna, Odisha, where Essar Steel buys its raw
material from, and its pellet plant at Paradip.
VTB Capital is a lead investor in Numetal while
Rewant Ruia, son of Essar Group founder Ravi
Ruia, is a minority shareholder. The race for
Essar Steel — which faces claims of Rs 54,851
crore from financial creditors and Rs 22,914
crore from operational ones — has attracted top
steel players including the likes of
ArcelorMittal with Nippon Steel, Tata Steel and
LED Smart TV maker
Ridaex Tech acquired by GotMatter
GotMatter Pvt Ltd a Bangalore based IT &
E-Commerce company has acquired Ridaex
Technologies, the manufacturier the first Indian
made LED Smart TVs. The acquisition will enable
the company to elevate sales and increase
expertise in customer service and enhance its
ION Energy acquires French
battery mgmt co Freemens SAS
Mumbai-based energy storage startup ION Energy has acquired French
battery management company Freemens SAS, in a cash-and-equity deal. Post
acquisition, Freemens engineering and sales team will be joining the
core team of ION. With this, Freemens SAS founder and CEO Alexandre
Collet joins ION as co-founder and VP of Engineering to strengthen the
startup’s founding team.
Founded in October 2011, Freemens SAS is a provider of battery
management systems for lithium-ion batteries.
Genie acquires food
Bike-bound logistics platform Genie Solutions
has acquired Chennai’s first food delivery
service, Dinein.in in an all-stock deal. Genie
will acquire the Dinein.in brand, the 25-member
team, the delivery fleet, restaurant partner
contracts, technology and their call centre
Rs.550-Cr via QIP
Publicly-listed construction company NCC Limited has raised INR
549.99 crore through a qualified institutional placement (QIP).
The issue consists of 44,715,000 equity shares of face value of
INR 2 each at a price of INR 123 per share. Edelweiss
Financial Services Limited acted as the book running lead
managers to the QIP. J Sagar Associates (JSA) was the
legal advisor to NCC.
ITD Cementation raises Rs.337-Cr
Listed construction company ITD Cementation has raised INR 336.8 crore
through Qualified Institutional Placement (QIP). ICICI Securities
acted as the Sole Book Running Lead Manager to the Issue.
Axis Bank sells 5%
stake in NSDL for Rs 165-Cr
Axis Bank Ltd
is to sell 20,00,000 equity shares - aggregating
to 5% - in National Securities Depository Ltd (NSDL)
at INR 825 per share for a total cash
consideration of INR 165 crores.
Reliance Brands acquires selling
rights of Mothercare products from DLF
Reliance Brands has acquired the rights to operate stores of UK-based
kids products company Mothercare in India. The deal will give the unit
of Reliance Industries control over all Mothercare outlets currently run
by DLF Brands. Mothercare is the latest brand after Mango, Forever 21
and Sephora to change hands from DLF Brands.
DLF Brands had bought the franchise rights of Mothercare for 15 years in
2009. The UK-based retailer sells products for children and expectant
mothers and currently operates through dozens of outlets and department
store chain Shoppers Stop.
Furniture rental startup
Furlenco raises $1.5 M
Bengaluru-based online furniture rental startup Furlenco has raised USD
1.5 million (INR 10 crore) in debt from a consortium of HNI investors
via non-convertible debentures. The investors in the round include Rekha
Hrishikesh Mafatlal (Arvind Mafatlal Group), Lakshmi Narayanan (ex-vice
chairman of Cognizant) and M Krishna Sindhuri Private Trust.
From the Venture Intelligence PE-VC Deal Database:
PE-VC investors in Furlenco includes Lightbox Ventures,
Axis Capital and Innoven Capital. (Subscribers to the database can login
to view the valuation, deal structuring and other transaction details.)