Mumbai-based online peer-to-peer (P2P) lending startup RupeeCircle will receive Rs.4 cr. (around $588,000) in seed funding from Mahindra Finance, which is a non-banking financial company (NBFC) under Mahindra Group. With this investment, Mahindra Finance will pick up 13% shareholding in the startup.
The Indian auto industry is in top gear. Deal volumes in the auto space have remained steady with 18 announced transactions in 2018 worth $500 million. The report talks about technology disruption and overseas expansion as the major drivers of the mergers and acquisitions landscape in the Indian automotive sector. The report also said that while the deal volumes pertaining to mid-market players have been limited, there has been an increasing focus on exploring inorganic opportunities amongst this segment due to increasing cash reserves and reasonable valuations in the overseas markets.
Bigtree Entertainment-run BookMyShow has signed definitive agreements to raise $100 million in a Series D round funding led by TPG Growth. The funds will be utilised towards rolling out exclusive entertainment experiences on BookMyShow.
South African media and technology conglomerate Naspers has sold its majority stake in B2B travel platform Travel Boutique Online (TBO), marking its second strong exit in India in the last three months. Standard Chartered Private Equity, the private equity arm of Standard Chartered Bank, has acquired a 49% stake in Gurgaon-based TBO from Naspers, which has been, till date, the largest and sole institutional investor in the company.
HT Media Ltd, the publisher of Mint and Hindustan Times newspapers, has proposed to merge its radio arm with that of Next Mediaworks Ltd. HT Media and its shareholders will own 74% in the merged entity, while Next Radio and Next Mediaworks’s shareholders will hold the rest.
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