Vijay Shekhar Sharma-led Paytm Mall and PremjiInvest-backed Icertis led technology startups in raising funds this week while US-listed software firm Ebix continued its acquisition spree in India with the purchase of online travel services company Yatra.
Paytm Mall, which is already backed by marquee investors such as Japan’s SoftBank and China’s Alibaba Group, has roped in eBay Inc. as its newest investor. The US-based online retailer is buying a 5.5% stake in Paytm Mall, reportedly for $150-165 million, as it takes another shot at expanding its Indian business after exiting Flipkart last year.
On the regulatory front, the Securities and Exchange Board of India proposed to tighten disclosure norms for auditors of listed companies and the Cabinet approved several changes to the bankruptcy law to speed up the insolvency resolution process.
Tune in to this week’s edition of Investor Bulletin to find out what else made headlines this week.