Reliance completes open offer for Network18, Infomedia & TV18
Mukesh Ambani-led Reliance Industries Ltd (RIL) has completed the open offer for three listed firms of the Network18 group shelling out Rs 17.9 crore ($2.8 million) to buy shares in the tender offer, which did not find many takers, as per a stock market disclosure.The open offers had sought to buy ......
Prism Cement to buy stake in BLA Power for $3.14 mn
Prism Cement today said it will acquire 15.23 per cent stake in BLA power Pvt Ltd for Rs 21 crore, a move that will reduce the firm's production costs."The company has agreed to acquire 15.23 per cent (post acquisition) equity stake for approximately Rs 21 crore in BLA Power Pvt ......
Greenko Energy to raise $230 mn from GIC, ADIA
Renewable energy firm Greenko Energy Holdings has signed an agreement to raise $230 million from an affiliate of Singapore’s sovereign wealth fund GIC and Abu Dhabi investment Authority (ADIA), as per a press statement.While ADIA, through one of its wholly-owned entities, will invest $150 million, the remaining will be invested ......
School products marketplace Schoolwear.in raises $1.5 mn
Schoolwear.in, which runs an online platform to sell school uniforms and supplies, has raised Rs 10 crore ($1.5 million) in seed funding, a person familiar with the development told VCCircle.Mumbai-based SchoolWear Pvt Ltd separately said it has raised funds from the promoters of Mumbai-based publishing firm Navneet Education Ltd. It ......
Student acquisition platform ExtraaEdge gets seed funding
ExtraaEdge Technology Solutions Pvt. Ltd, an edu-tech startup that helps educational institutions acquire students and increase admissions, has raised an undisclosed amount in angel funding from a group of investors including Ritesh Dwivedy, CEO of Petoo.in and Priti Padhy, global director of business intelligence and information management at Microsoft, a ......
On-demand chauffeur provider DriversKart acquires Driven
Chennai-based on-demand chauffeur provider DriversKart has acquired Mumbai-headquartered rival Driven to expand its network, in the second acquisition in the nascent but growing segment.When contacted, a DriversKart spokesperson declined to reveal the value of the cash-and-stock deal. After the acquisition, DriversKart claims to be the market leader in India’s on-demand ......
Student micro-loan startup KrazyBee gets seed funding from Chinese firms
Student micro-loan startup KrazyBee.com, run by Bangalore-based Finovation Tech Solutions Pvt Ltd, has raised $2 million in seed funding from two Chinese firms. “We have raised the funds from Chinese mobile ad network Yeahmobi and micro-loan/e-commerce player Fenqile,” Wan Hong, co-founder, KrazyBee told VCCircle. Currently operating in Bangalore, the company is planning ......
Railways to charge uniform freight charges for domestic iron ore consumption and exports
In an attempt to boost iron ore exports, the Indian Railways has decided to withdraw the dual freight policy for transportation of the mineral and pellets.As the new policy comes into effect starting Tuesday, freight rates for transportation of iron ore for domestic consumption and exports will be charged equally. ......
Kalaari Capital invests $2 mn in credit scoring platform CreditVidya
Mumbai-based InfoCredit Services Pvt Ltd, which operates credit scoring platform CreditVidya, has raised $2 million (Rs 13.3 crore) in a Series A round from Kalaari Capital.The company said in a statement that it will use the funds to augment its technology backbone and launch additional products that help lenders approve ......
7 bids for Tata Steel’s UK business proceed to the next stage
Looking to offload its loss-making UK business, Tata Steel Europe on Monday said that it has considered seven expressions of interest which have been taken forward to the next stage of the sale process.In a statement, Tata Steel Ltd’s Europe business unit clarified that it has considered only those who ......
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