State-run Oil India Ltd may pitch for full control of Numaligarh Refinery Ltd (NRL), according to two executives aware of the development. NRL is a subsidiary of state-run Bharat Petroleum Corp. Ltd (BPCL). As part of...
CDC Group invests $36 million in Ecom Express
CDC Group, the development finance arm of the UK government has invested $36 million for an equity stake in e-commerce logistics firm Ecom Express. Ecom Express claims that it reaches over 90% of India’s population...
Virtuous Retail buys Tata Realty’s retail mall portfolio for $100 mn
Virtuous Retail South Asia Pte. Ltd (VRSA), the retail development arm of investment firm The Xander Group Inc., has acquired the Trilium shopping mall portfolio from Tata Realty and Infrastructure Ltd (TRIL) for $100...
PhonePe raises $82.5 million from Singapore holding firm
Digital payments firm PhonePe Pvt. Ltd has received ₹585.66 crore ($82.5 million) from its Singapore parent. The board of PhonePe approved on 26 November the allotment of about 1.38 million shares to its parent, PhonePe...
Stanza Living raises ₹40 crores from Alteria Capital
Student housing startup Stanza Living on Tuesday raised $5.7 million ( ₹40 crores) in debt financing from Alteria Capital. This is in addition to the $4.3 million ( ₹30 crores) raised earlier this year, taking the total...
General Atlantic, GGV Capital in talks to invest in Unacademy
Education tech startup Unacademy is in talks to raise $100 million in a Series E round at a valuation of $400 million, said three people aware of the matter, requesting anonymity. New investors expected to participate...
FableStreet raises ₹21 crore in Series A led by Fireside Ventures
FableStreet, premium workwear brand, on Monday raised ₹21 crores in a Series A round, led by Fireside Ventures. Other investors who participated in their personal capacity included Pradeep Parameswaran, President for...
Reliance’s biotech arm eyes tie-ups to enter diagnostics business
Mukesh Ambani, India’s richest man, now wants a share of your diagnostics budget, in a move that can potentially shake up the sector similar to the disruption in the telecom market after the entry of Reliance Jio...
RBI tightens norms for ARCs to acquire financial assets
The Reserve Bank of India (RBI) on Friday tightened norms for asset reconstruction companies (ARCs), restricting them from buying financial assets from their sponsor firms and lenders on a bilateral basis. However, the...
CPPIB pledges $600 mn in NIIF’s master fund
Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) has committed to invest up to $600 million in National Investment and Infrastructure Fund (NIIF). The investment would be made through a...
Flipkart leads funding round in Shadowfax
Walmart-owned e-commerce platform Flipkart has led a $60 million investment in Shadowfax, which offers an on-demand, last-mile logistics network. The Series D funding round also saw the participation of Eight Roads...
Disinvestment-bound Air India’s loss soars to a record
Air India Ltd plunged to a record net loss underscoring an intensely competitive domestic aviation market and adding strength to calls for privatizing the national carrier. The New Delhi-based carrier posted a...
