Grapevine: Bounce to raise $150 mn; KKR plans green bets; Apollo, Cerberus eye DHFL
Photo Credit: VCCircle

Wickedride Adventure Services Pvt. Ltd, which operates dockless scooter-sharing platform Bounce, is in talks to raise as much as $150 million (approximately Rs 1,071.80 crore at current exchange rates) in its Series D round of funding, a media report said.

Existing investors B Capital and Accel Partners India may lead the funding round, TechCrunch reported.

The development comes after the scooter-rental startup closed its Series C round in June this year, raising around Rs 505 crore ($72 million). 

Meanwhile, KKR is in advanced talks to buy the solar portfolio of Shapoorji Pallonji Group for up to Rs 1,750 crore ($245 million at current exchange rate), people in the know told The Economic Times. It is also in talks to buy Hyderabad-based Mytrah Energy for Rs 5,250 crore ($750 million).

In Mytrah, KKR is looking to deploy at least half of the sum involved as equity commitment while some existing lenders including Dutch pension fund APG Asset Management may join as co-investors by converting a part of their exposure and rolling over the rest.

KKR could control over a two gigawatt (GW) clean energy portfolio.

Separately, media reports said that private equity firms Apollo Capital and Cerberus are competing with Adanis for a stake in Dewan Housing Finance Corporation Ltd. DHFL has submitted a proposal to pay off its retail depositors.

“Due diligence is on, while the central bank is working on referring the company to the bankruptcy tribunal soon,” a person in the know told The Economic Times.

As part of the capital restructuring, the promoters will bring down their stake from 40% to 19%. The new investor will buy 26% by way of fresh issuance of shares, another person in the know told The Economic Times.

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