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Grapevine: Dutch player, NIIF eye Fourth Partner stake; Razorpay in talks with GIC, others
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Netherlands’ SHV Energy and India’s quasi-sovereign wealth fund National Investment and Infrastructure Fund (NIIF) are separately looking to buy a stake in Hyderabad-based Fourth Partner Energy for about $150 million (about Rs 1,086 crore), Mint reported, citing two people aware of the development.

In June 2018, Fourth Partner Energy had raised $70 million (about Rs 507 crore) from TPG Capital. Other investors in the company include European impact investment fund consortium led by Symbiotics and responsAbility Investments.

Meanwhile, digital payments startup Razorpay is in talks with several investors, including existing investor GIC, to raise up to $200 million (about Rs 1,449 crore) at a valuation of up to $2 billion (about Rs 14,492 crore), three people privy to the matter told The Economic Times.

“Other existing investors, including Tiger Global and Sequoia Capital, may participate along with GIC,” one of the persons said.

The Bengaluru-based fintech startup had raised $100 million (about Rs 724 crore) in October last year at a valuation of at least $1 billion (about Rs 7,246 crore).

In another development, Twitter-backed social media platform ShareChat is in talks to raise $200 million (about Rs 1,449 crore) through optionally convertible debentures from Chinese technology giant Tencent, The Economic Times reported, citing sources.

The funding is likely to be routed via a Europe-based entity to avoid the tightened foreign direct investment norms for Chinese firms, it added.

ShareChat had raised $100 million (about Rs 724 crore) from microblogging site Twitter and others in August 2019 and further pulled in $40 million (about Rs 289 crore) in September last year from existing investors.

Separately, brokerage firms IIFL Securities and Axis Securities have won bids to acquire the demat accounts and trading or broking accounts respectively of Karvy Stock Broking with depositories NSDL and CDSL, regulatory filings disclosed.

IIFL Securities will get more than 1.1 million demat accounts with the BSE, NSE and the Metropolitan Stock Exchange (MSE) with assets worth Rs.3.01 trillion (about $41 billion) under management.

“Once the process is complete, the customer base of Axis Securities will surge from 2.5 million to over 3.6 million,” a statement by Axis Securities said.

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