Blackstone, French company weigh bids for IT firm
French digital business services provider Teleperformance SE and private equity firm Blackstone Group Inc. are planning separate bids for Everise Holdings, an IT services business owned by Brookfield Asset Management, two people aware of the transaction said. Brookfield has hired Morgan Stanley to conduct the sale and hopes to raise around ......
No cash appraisals at Unacademy this year: CEO
SoftBank-backed edtech unicorn Unacademy will not offer cash appraisals to employees this year, co-founder and chief executive officer (CEO) Gaurav Munjal said in an internal email reviewed by VCCircle. The company has instead decided to award stock options based on individual performance. The reason cited for the lack of cash appraisals ......
Tiger Global leads $40 mn funding in logistics-tech startup Loadshare Networks
Loadshare Networks Pvt. Ltd, which operates a technology platform for small and medium-sized enterprises in the logistics sector, has raised its Series C round of Rs 300 crore ($40 million) led by US-based hedge fund Tiger Global Management. Filter Capital and 57 Stars also came on board as new investors, ......
PE-backed Molbio’s Natarajan on revenue growth and why it isn't chasing M&As
India’s diagnostics sector has always been a sweet spot for investors and gained further traction from private equity players during the Covid-19 pandemic. Temasek- and Motilal Oswal PE-backed Molbio Diagnostics is no different. Molbio attained a valuation of $1.6 billion last year when Temasek led an $85-million (around Rs 680 crore) ......
Gopal Snacks' founder buys brother's stake in company
Bipin Hadvani, founder of Gujarat’s Gopal Snacks Pvt. Ltd, has raised debt from a JM Financial entity to buy out his younger brother Praful’s 30% stake in the company, two people familiar with the transaction said. Bipin Hadvani raised about ₹490 crore (about $60 million) in debt from JM Financial Products ......
WestBridge Capital backs agri-tech firm Otipy
Agri-tech startup Otipy has raised Series B funding of Rs 235 crore ($32 million) led by homegrown private equity fund WestBridge Capital. Existing investors SIG and Omidyar Network India also participated in the round. The fresh infusion have come in six months for the startup, operated by Crofarm Agriproducts, which had secured ......
HDFC-HDFC Bank merger likely to impact margin this year, analysts say
The HDFC-HDFC Bank Ltd merger is just 4-5 weeks away and would result in lower net interest margin (NIM) for the lender this year, brokerages said on Thursday, a day after the management met analysts. The bank expects NIM – a key profitability measure – to fall to 3.7%-3.8% in 2023-24 ......
Sequoia-backed Yubi buys credit analytics firm
Fintech unicorn Yubi on Thursday said it has bought a 100% stake in digital credit analytics company FinFort Infotech LLP, marking its third acquisition in over a year. However, the company did not disclose the financial details of the transactions. Yubi’s latest bet comes after it had acquired majority stakes in Corpository ......
Travel SaaS firm ITILITE snags $29 mn from Tiger Global, Tenacity Ventures, others
Travel management startup ITILITE Technologies Pvt Ltd on Wednesday said it has secured Series C funding of $29 million (around Rs 221 crore) led by Tiger Global and Dharana Capital, with participation from existing investors Matrix Partners India and Tenacity Ventures. The Bengaluru-based firm plans to invest the fresh capital in ......
Early-stage startups Ulipsu, Thena, others secure funding
Edtech startups Ulipsu and uFaber, along with software-as-a-service platforms Thena and Ticket 9 have secured early-stage funding, the companies said on Wednesday. Ulipsu Kidvento Education and Research Pvt Ltd, which operates edtech platform Ulipsu, has closed its pre-Series A funding round at $5.7 million (Rs 47.13 crore). The startup raised $2.5 million ......
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