Equifax’s Sriram Kalyanaraman named CEO of National Housing Bank
The government has appointed Sriram Kalyanaraman as managing director (MD) and chief executive officer (CEO) of National Development Bank for five years, making him one of the rare private sector professionals to head a PSU financial institution.PSUs are usually headed by civil servants.Earlier, Leo Puri took over as CEO of ......
SoftBank funding may prompt Uber to review game plan in Southeast Asia
SoftBank Group’s multi-billion dollar investment in Uber Technologies Inc opens up the possibility of combining it with other ride-hailing assets the Japanese group owns in a consolidation of a rapidly growing business across Asia, industry sources say.Uber Technologies Inc said on Nov. 12 that a planned deal with a consortium ......
Nazara will invest in mobile gaming firms, says CEO Manish Agarwal
Manish Agarwal, CEO of Nazara Technologies, believes that the Indian mobile gaming industry is entering a golden period. He is of the view that the next 300 million customers will shape the future of gaming in the country.Agarwal believes that mobile gaming in India will mirror growth of the e-commerce industry. ......
Instant messaging venture Hike acquires free voice-calling app Zip Phone
Hike, the instant messaging (IM) app service from BSB (Bharti SoftBank, a joint venture between Bharti Group and Japan’s SoftBank), has acquired free voice calling app from US-based Thought Mechanics Inc for an undisclosed sum.Interestingly, this would also compete with Bharti Airtel's own core mobile service. Hike is also competing ......
Fin-tech startup Active.Ai gets Series A funding from Vertex Ventures, others
Singapore-based fin-tech startup Active.Ai has raised $8.25 million (Rs 54 crore) in a Series A funding round co-led by Vertex Ventures, Creditease Holdings and Dream Incubator.Existing investors Kalaari Capital and IDG Ventures India also participated in the round, the startup said in a statement.As part of the deal, Vertex managing ......
Real estate veteran Amit Goenka to launch NBFC
Industry veteran Amit Goenka, who had set up real estate-focussed private equity firm Nisus Finance Services Ltd a few years ago, is planning to launch a non-banking financial company.The NBFC will mainly back real estate projects and may invest 30-40% of its corpus in startups in the form of venture ......
News Roundup: Inox in talks to buy Satyam Cineplexes
Inox Leisure Ltd, India’s second largest multiplex chain, is in talks to buy Satyam Cineplexes Ltd in a transaction that may be valued at Rs 220 crore ($36 million), signalling further consolidation in the movie exhibition business. Inox Leisure will sell treasury stock to raise funds for the acquisition, said ......
AIF Capital looks to exit Famy Care
Mumbai-based generic oral contraceptive pills maker Famy Care’s promoters and private equity investor AIF Capital, which owns minority stake in the company, are looking to offload up to 75 per cent equity stake in the firm, according to a report by The Economic Times citing sources.Hong Kong-based AIF Capital, which ......
Sachin Tendulkar-backed Universal Sportsbiz raises $15 mn from Accel
US-based venture capital firm Accel Partners has invested about $15 million (Rs 100 crore) in Sachin Tendulkar-backed celebrity fashion company Universal Sportsbiz Pvt. Ltd (USPL), a press statement said. Following the funding round, USPL's valuation has crossed $100 million (Rs 650 crore), the statement added. USPL will use the funds to expand its ......
Zee Entertainment to acquire 9X Media; ends JV with Turner
Media tycoon Subhash Chandra-led Zee Entertainment Enterprises Ltd said on Friday it has agreed acquire 9X Media Pvt. Ltd and its unit INX Music Pvt. Ltd for a total of Rs 160 crore ($24.4 million) in cash.The company said in a statement that it has signed a pact to buy ......
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