Grapevine: Swiggy, Yulu, Bira 91 seek fresh capital; Dilip Buildcon may sell road assets
Advertisement

Grapevine: Swiggy, Yulu, Bira 91 seek fresh capital; Dilip Buildcon may sell road assets

By Ankit Agarwal

  • 19 Jun 2019
Grapevine: Swiggy, Yulu, Bira 91 seek fresh capital; Dilip Buildcon may sell road assets
Credit: Thinkstock

Food delivery unicorn Swiggy is in talks to raise up to $200 million (Rs 1,393 crore) from US-based private equity firm Carlyle at a valuation of $4.5 billion, a media report said.

Citing two people aware of the matter, Mint said Swiggy plans to use the money to grow its delivery fleet, expand beyond food to other segments and grow its hyperlocal offerings. 

Swiggy's most recent funding round in December 2018 when it raised $1 billion from investors led by existing backer Naspers. China's Tencent also took part in that round, which valued Swiggy around $3.3 billion.

Advertisement

If Carlyle does invest in Swiggy, it would be only its second investment in an Indian technology startup. It has previously invested in e-commerce logistics unicorn Delhivery.

Yulu

The Bengaluru-based bicycle and electric-scooter rental startup is looking to raise up to $20 million, The Times of India reported, citing two people aware of the matter.

Advertisement

The round may see bike maker Bajaj Auto Ltd invest up to $8 million in Yulu, the report said. Yulu is also in talks to bring in other new financial investors. 
Yulu Bikes Pvt. Ltd was started in 2017 by Amit Gupta, a co-founder of mobile advertising technology unicorn InMobi. Last year, it raised venture capital from Blume Ventures, Wavemaker Partners and 3one4 Capital. 

The startup has also secured angel funding from a few individuals including Girish Mathrubootham, founder of cloud-based customer engagement platform Freshworks Inc; and former Google executive Amit Singhal. 

Advertisement

B9 Beverages Pvt. Ltd, the maker of Bira 91 craft beer, is looking to mop up as much as $100 million in a Series C round of funding, Mint said, citing two people aware of the development.

The report said that the beer maker may raise about $20 million from existing investors and that it will use the money to grow its mass market beer brand Boom.

Last month, the company secured $50 million in its Series B round from new investor Sofina SA and exiting investor Sequoia among others. It later raised $4.2 million in a bridge round of funding from another new investor Sixth Sense Ventures.

Advertisement

Dilip Buildcon

Bhopal-based Dilip Buildcon Ltd is in talks to sell all 12 projects that it is building on the hybrid annuity model (HAM), The Economic Times reported, citing sources it didn't identify.

In a HAM project, the government bears 40% of the cost and the company bears the remaining.

Advertisement

The report said that the money from the planned sale would help the construction company bid for new projects and reduce debt. The company has net debt of Rs 3,200 crore, it said.

Meanwhile, the National Highways Authority of India (NHAI) is seeking a new operator for the Mumbai-Pune Expressway as an agreement with IRB Infrastructure Developers is set to end in August, The Economic Times said, citing two people close to the development.

The state-run agency hopes the expressway would be valued between Rs 7,000 crore and Rs 8,000 crore, the report said.

The NHAI has mandated SBI Capital Markets to find a buyer. The investment bank has contacted global and domestic infrastructure developers such as Macquarie, Cube Highways and National Investment and Infrastructure Fund for the expressway, the report said.

Share article on

Advertisement
Advertisement