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A. Little. World. Private Limited (“ALW”), leveraging new generation technologies to enable financial inclusion at the bottom of the pyramid (BOP), announced the closing of INR 287.4 Million in sries B funding led by Bellwether Microfinance Fund Pvt. Ltd. and India Financial Inclusion Fund, both managed by Hyderabad-based caspian advisors. Legatum Ventures, which led the Series A investment in ALW, also invested in the new round. These investments, facilitated by Intellecap, will help the Company achieve its ambitious growth plans to set up a technology-driven 'Bank-in-a-Box' in every village and facilitate rural India's integration into the mainstream financial sector. The investment will also enable ALW to improve capacity and build its product portfolio. […]
TravelPort Holidays (India) Pvt Ltd, a Mumbai-based online travel agency, is in talks with private equity players to raise funds for its offline and online expansion to tap the domestic travel industry, which is poised for significant growth in the coming years. Heena Akkhtar, chief operating officer, TravelPort, told DNA Money that the company is raising funds through private placement. “We are currently in the process of fine-tuning the funding arrangement with one of the PE firms. So, concrete details cannot be disclosed at this stage,” she said. TravelPort expects to close the deal in another couple of months. While valuation details are being worked out, industry sources said the company is looking at diluting 10-20% stake. “The money to be raised could be anything between Rs 15 crore and Rs 20 crore,” said the source. […]
The race to induct a strategic partner in Tata Teleservices (TTSL) seems to have narrowed down to Japan’s NTT DoCoMo and European telecom giant France Telecom. The Tata Group is close to diluting its stake for around Rs 5,000 crore in the country’s sixth-largest telecom operator, industry sources told ET . “Talks are in the final stage and a deal is expected to be announced in the next two months,” informed sources said. One industry source with knowledge of the matter said NTT DoCoMo might be the front-runner. This, however, could not be independently confirmed. Both companies have put in bids. It’s not clear when a formal announcement would be made. It is also not clear as to the exact stake which the partner will pick up. The figure of Rs 5,000 crore assumes a stake sale in the region of 12%. However, a number of industry sources following the transaction said the bids were for a 26% holding, involving a pay-out (for the investor) of around Rs 10,000 crore. […]
Tata Group company, Tata Communications on Monday said it has invested $11.5 million in a next generation content delivery network (CDN) company BitGravity. A company statement said Tata Communications entered into a strategic partnership with BitGravity and invested USD 11.5 million in convertible debt of BitGravity. With the strategic tie up, the company launches CDN services including high quality content and video. (ET) […]
Three global alcohol beverage firms, including world's largest spirits firm Diageo, have evinced interest for a strategic stake in the Rs 3,200-crore United Spirits, the spirits arm of the UB Group. UB Group Chairman Vijay Mallya talking to the media in Bangalore on Wednesday on the sidelines of United Breweries AGM, said that there is serious interest from at least three global players who are in discussions with him to pick up stake in United Spirits. “The interest is of strategic nature. We have a strong distribution network in India and global players wanting to enter India are keen on this. In turn, we will look to leverage our partners' global network for an international footprint. The talks, including with Diageo, are on,” he said, declining to outline a timeframe for this strategic move. […]
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