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Grapevine: Ashoka Buildcon, Macquarie to sell road assets; Dunzo seeks fresh funding
Photo Credit: VCCircle

Infrastructure developer Ashoka Buildcon and Macquarie Infrastructure and Real Assets (MIRA) are seeking buyers for their $2 billion roads portfolio Ashoka Concessions Ltd, two people privy to the development told Mint.

The formal process to sell the roads under Ashoka Concessions was launched recently. EY is managing the sale of the portfolio, one of the persons cited above said.

They have reached out to Canadian pension funds and other sovereign wealth funds, since the investment ticket size is more suitable for these investors, the person added.

Meanwhile, Alibaba Group is planning to launch first fully owned e-commerce business this fiscal year in India through its subsidiary UCWeb, Global Business vice president Huaiyuan Yang told PTI.

"We have Alibaba’s e-commerce gene in us and we are actually trying to start innovative business model related to e-commerce. We are going to launch a new e-commerce product in India this year,” Yang said on the sidelines of Alibaba Philanthropy forum.

When asked about probable impact of UCWeb’s foray into e-commerce on Paytm’s business, Yang said E-commerce is very vast business. There are various part of e-commerce business and several products. “UC will choose section according to our business. We will partner with the right players and we will not compete with Paytm,” he said.

Also, task management app dunzo has been in conversation with Google to raise fresh funding for the past few months. The round appears closer with Lightbox VC joining its Series D round, two people with knowledge of the matter told Entarckr.

“Google and Lightbox VC will co-lead up to $50 million funding round along with existing investors,” one of the persons cited above said.

In December 2017, Google Ventures led a $12 million series B round in Dunzo.

Lightbox would invest around $25-30 million, with a significant contribution from Google and other existing backers. The transaction will be completed within three to four weeks, the person added.

To sustain its substantial cash guzzling operations and expansion, last month, dunzo raised about Rs.34.5 crore debt from Alteria Capital.

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