OLX Group has acquired Mumbai-based online recruitment marketplace Aasaanjobs for an undisclosed amount. The company will utilize the acquired assets to strengthen its jobs vertical in the blue and grey collar jobs market and looks to further unify its position in the Indian jobs classified market.
Malaysia Airports Holding Berhad has terminated the share purchasing agreement it had signed with the GMR Group to sell its 11 per cent stake in GMR Hyderabad International Airport Ltd (GHIAL). The Indian infrastructure major did not fulfill the obligations as per the agreement before December 31, 2018.
Interior design & build startup, Flipspaces, has raised $3.5 mn from Carpediem Capital. The fund will be deployed for enhancing technology and expanding its footprint in the market.
About a third of the funds borrowed by Indians reach them through para banks, which reach the hinterland or the marginal customer where formal commercial banking hasn’t. This ability to bring formal finance to the doorstep of the unbanked has driven the growth at nonbanking finance companies (NBFC), but 2019 could well alter the operating environment for many of them. To begin with, NBFCs would have to put up with higher funding costs. The mismatch between long-term lending and borrowings will have to be addressed. The Reserve Bank of India has talked about strengthening the regulatory vigil on the sector in general and on asset liability management (ALM) framework in its latest report. NBFCs would like to focus on direct assignment to ensure that risk is not on their balance sheet but they are able to raise fee income to maintain return on equity. NBFCs will have to diversify their borrowing profile from mostly debentures, commercial papers and banks to include instruments like external commercial borrowing, masala bonds and expand the number of banks.
CarDekho, the flagship portal of GirnarSoft, has raised $110 million (Rs.770 crore) from various investors which it plans to utilize to expand its various business verticals. The company has raised the capital in a Series C funding with investments from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank. With this latest round of funding, the company has so far raised a total of $185 million.
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