News Roundup: E-commerce logistics firm Delhivery aims to raise up to $30M

16 March, 2016

E-commerce logistics services company Delhivery is in the final stages of negotiations to raise up to Rs 175 crore ($30 million) in fresh funding, a development that comes at a time when a number of India’s top private equity funds are betting big on the country’s digital commerce sector. The company has had discussions with a number of bluechip private equity firms, a list that also includes marquee growth-stage risk capital investor Warburg Pincus, and a deal is expected to be finalised by mid-June, according to sources with direct knowledge of the talks. In September last year, it raised about Rs 35 crore from Nexus Venture Partners, having raised an undisclosed sum from Times Internet Ltd earlier in 2012.The existing venture capital backers are also expected to participate in the new round. () 

Southern landlord Pai plans to list investment company: South India’s biggest landlord, Dayanand Pai, is looking to unlock close to Rs 1,000 crore ($ 171 million) by taking his newly created Century Real Estate Investments (CREI) for an initial public offer (IPO), people directly familiar with the matter said. The new company – incorporated in the last 60-days – offers investors a Bangalore-focused real estate play. It has currently brought together eight land parcels under joint development with city’s A-list developers. The eight projects, amounting to about 28 million sq ft of constructed real estate space, will give CREI cash flow receivables upwards of Rs 7,000 crore (around $1.2 billion) for its share in the developments. (The Times of India) 

Shell in talks to buy stake in the planned Kakinada LNG project: Global energy major Royal Dutch Shell is in talks with the Andhra Pradesh state government for buying up to 24 per cent stake in the planned Kakinada liquefied natural gas project on the east coast, GAIL chairman B.C Tripathi said on Monday.  GAIL Gas, a subsidiary of GAIL (India), is a co-promoter of Andhra Pradesh Gas Distribution Company (APGDC) that will build the project in the southern Indian state.  APGDC will have a 50% stake and Gaz de France 26% share in the project, leaving the remainder for the new partner. () 

Courtesy: VCCEdge


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News Roundup: E-commerce logistics firm Delhivery aims to raise up to $30M

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