Niche pet startup PetSutra announced raising funds worth Rs.9.5 million as a seed investment from angel investors from across the world. The raised funds will be used to expand the brands presence across India and globally.Gurgaon-based PetSutra is one resource for all the pet parents that provide end-to-end solutions, from suggesting the pet’s breed to their journey with them.
Education technology startup Shirsa Labs Pvt. Ltd has raised $500,000 in a funding round led by investment network Cross Border Angels. The Mumbai-based startup plans to use this latest funding to catalyse its marketing in India and scale up business in the industry and presence among the subscribers.
Private equity/venture capital investments worth $3.5 billion were announced in January this year, led by big ticket transactions. January recorded almost double the value of investments witnessed during same month last year ($3.5 billion in January 2018 as against USD 1.2 billion in January 2017). Large value deals (over USD 100 million) continued to dominate the activity with the financial services sector leading the way. Moreover, January also recorded 26 exits worth $970 million.
Fortis Healthcare Limited has signed a definitive agreement to acquire the entire portfolio of assets of RHT Health Trust listed in Singapore. The proposed transaction involves the acquisition of all the securities of RHT’s entities for an enterprise value of Rs.4650 cr., which includes Rs.1152 cr. of debt that will be repaid. It further added that substantial part of the net proceeds from the deal received by RHT will be distributed to its unit holders.
Idea Cellular Ltd’s board has approved a proposal to sell shares via a qualified institutional placement (QIP) to raise as much as Rs.3,500 cr. The proposed capital raising by Idea, the sale of its standalone towers to American Tower Corp. and the potential sale of its 11.15% stake in Indus Towers Ltd will augment the firm’s long-term capital resources.
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