Mapletree to invest in logistics assets in India

2018-12-13T12:12:47+00:00December 13th, 2018|Uncategorized|

Singapore-based real estate asset manager Mapletree Investment Pte. Ltd is gearing up to invest in the logistics space in India, apart from core office assets. Logistics development is a strategic call for Mapletree, which is looking at creating a long-term investment and development portfolio across key cities. The firm has appointed Souvik Mukherjee to head logistics development in the country and for office investments, and Hardeep Dayal as head of investments and asset management. Mapletree has just concluded the acquisition [...]

Sequoia Capital invests $9mn in Wakefit

2018-12-13T12:09:48+00:00December 13th, 2018|Uncategorized|

Bengaluru-based mattress maker Wakefit Innovations Pvt. Ltd has raised Rs 65 crore ($9 million) in a Series A round of funding from venture capital firm Sequoia Capital, a company statement said. The VC firm has picked up a 31.9 per cent stake in the company, the statement added. Ankit Garg, co-founder and CEO of Wakefit, said in the press note that the firm will use the capital to strengthen its manufacturing and fulfilment capabilities across the country, build its brand [...]

China’s Fosun RZ Capital backs PerkFinance

2018-12-13T07:51:06+00:00December 13th, 2018|Uncategorized|

Bengaluru-based online platform PerkFinance, which facilitates loans through its lending partners to blue-collar workers, has raised $900,000 (Rs 6.5 crore) in a seed round from China’s Fosun RZ Capital and angel investors Eric Bunting, Krishna Vinjamuri and Karan Virwani. PerkFinance, owned by Stay Qurious Ventures Pvt. Ltd, said in a press note that the investment will be used to boost its technology and marketing. Fosun RZ Capital is an affiliate of Chinese conglomerate Fosun Group. Bunting, the founder of private [...]

Escorts in JV with Kubota Corporation

2018-12-12T07:34:46+00:00December 12th, 2018|Uncategorized|

Indian engineering and farm equipment maker Escorts formed a joint venture (JV) with Japan's Kubota Corporation to produce high-end tractors for domestic as well as export geographies. The joint-venture company – Escorts Kubota Private Limited (60 Kubota: 40 Escorts) – will leverage Kubota's technology and Escorts’ frugal engineering expertise to manufacture efficient, value-oriented utility tractors. Escorts and Kubota will invest Rs 300 crore ($41.5 million) to create an initial capacity of manufacturing 50,000 tractors in India. Between them, Escorts and [...]

Google buys travel app Where Is My Train

2018-12-12T07:21:26+00:00December 12th, 2018|Uncategorized|

Google has acquired Sigmoid Labs Pvt Ltd, a Bengaluru-based start-up that owns travel app Where Is My Train. Announcing the acquisition on its website, Sigmoid Labs said: “We created the Where Is My Train’ app with the mission to use technology to improve the lives of millions of Indian train travellers… we’re excited to share that Sigmoid Labs, the team behind the app is joining Google...” Bengaluru based Sigmoid Labs was founded about two years ago by former TiVo Corporation [...]

Petronet eyeing US LNG deal

2018-12-12T07:13:04+00:00December 12th, 2018|Uncategorized|

Indian gas importer Petronet LNG is looking to sign a deal in a year's time to buy at least 1 million tonnes of US natural gas annually for a period of up to 10 years, as it pushes to diversify its supply sources beyond the Middle East. As part of any deal, the firm could potentially take a stake in a US liquefied natural gas (LNG) project, said Petronet's Managing Director, Prabhat Singh. He added that the US offers lots [...]

Cerberus Capital to set up India office

2018-12-11T13:19:09+00:00December 11th, 2018|Uncategorized|

Global private equity and distress assets investor Cerberus Capital is set to enter India as it seeks to tap the mounting opportunities in domestic stress assets space. Cerberus is in the process of setting up its office in Mumbai with senior-level hirings. For its India operations, Cerberus has hired Indranil Ghosh as managing director. Ghosh, former principal at special situation fund AION Capital Partners, will spearhead Cerberus' investments in private equity and stressed assets, said two people aware of the development. He is [...]

Berkshire Hathaway eyes Kotak Bank stake

2018-12-11T11:32:11+00:00December 11th, 2018|Uncategorized|

Berkshire Hathaway Inc. is in discussions to purchase a 10 per cent stake in Kotak Mahindra Bank. The deal, through which Berkshire may buy promoter stake or get fresh shares, may be valued at $4-6 billion (Rs 28,230-42,345 crore). As per the Reserve Bank of India (RBI) guidelines, Uday Kotak should bring down his stake in the bank to below 20per cent from the current 29.73 per cent by December 2018. Promoter shareholding needs to be further brought down to 15per cent by March 2020. Uday Kotak [...]

PremjiInvest leads $103mn investment in US firm

2018-12-11T06:53:59+00:00December 11th, 2018|Uncategorized|

PremjiInvest, the family office of Wipro Ltd chairman Azim Premji, has led an investment of $103 million (around Rs 730 crore) in US-based business intelligence software firm Looker Data Sciences Inc. Looker Data Sciences said in a statement that the infusion was part of a Series E round of funding in which American investment firm Cross Creek Advisors also came in as a new investor while existing backers participated as well. Looker’s existing investors include Alphabet Inc’s growth capital arm CapitalG, [...]

Amdocs eyes tie-ups with Indian content firms

2018-12-10T08:23:02+00:00December 10th, 2018|Uncategorized|

Amdocs, which specialises in providing software and solutions to the communications and media industry, is exploring tie-ups with content providers in India, in line with its global media strategy. Globally, Amdocs has been entering into partnerships with content producers like Disney and Fox to help them distribute their content through various platforms. Gary Miles, Chief Marketing Officer, Amdocs, said: “We would love to work with Bollywood and distribute that all over the world.” However, these talks are still in the [...]