Sports marketing firm Baseline Ventures, which represents P.V. Sindhu and Ravindra Jadeja has raised $1 million in private placement from a high net worth individual (HNI) in Singapore. The company did not disclose details of the investor. The celebrity management and brand licensing firm plans to use the fresh funds to further diversify into the fields of sponsorships and talent management.
India’s motorcycle manufacturers would not take a major hit on account of US President Donald Trump’s call on a “reciprocal tax” for “thousands and thousands” of motorcycles exported from India to the US. In 2016-17, India exported 2,440 motorcycles, worth $6 million, to the US. And till the April-November period in 2017-18, it was at 4,480, worth $11.5 million. This is just 0.4 per cent of domestic motorcycle exports. The Indian steel industry is unperturbed by Trump’s pitch for protectionism, since the value of iron and steel exports to the US is minuscule. In the first eight months of 2017-18, India exported iron and steel, worth $230 million, to the US, as against the $330 million in 2016-17.
Future Consumer Limited, the FMCG arm of Kishore Biyani’s Future Group, has raised Rs.200 cr. in non-convertible debentures (NCDs) from the CDC Group Plc., the UK government’s development finance institution. The NCDs have 7-year tenure and will be used for capital expenditure, long-term working capital needs, and to support business growth.
Essel Group’s education unit Zee Learn is acquiring a controlling stake in MT Educare Ltd for Rs.200 cr. The acquisition of MT Educare Ltd is aligned with the strategy of Zee to increase its footprint across segments in the education sector and consolidate the offerings through the digital route.
New Delhi-based home rental marketplace ZiffyHomes has acquired FellaHomes for an all-cash plus equity deal. With the acquisition, Ziffy plans to consolidate the expansion database for both the companies, wherein they will continue to serve exclusive rooms and FellaHomes would provide rentals at affordable pricing.
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