Yatra Online, which owns and operates travel portal Yatra.com, has agreed to be acquired by Nasdaq-listed special purpose acquisition firm Terrapin 3 Acquisition Corp (TRTL) in a reverse merger deal, which has an enterprise value of $218 million. TRTL, a blank cheque company, which made its publi…
Companies, Finance & Markets
Compliance services venture HiGrit raises seed fund
HiGrit, a start-up that advises other start-ups on legal and other statutory compliance issues, has raised a seed funding from two Chandigarh-based investors. The Founders refused to divulge the size of the investments but said they might soon go for another round for expansion. The Delhi-based s…
Furniture retailer Ikea to invest Rs 1,500 crore in Mumbai
World’s largest furniture retailer Ikea is investing Rs 1,500 crore here as part of plans to have 25 stores across India by 2025 and its first store is likely to come up within 18 months in Navi Mumbai, an official said. It is among the several companies including Amazon, Microsoft, Owens C…
Snapdeal is acquiring GoJavas for faster delivery
Snapdeal is preparing the framework for a complete acquisition of GoJavas, the online marketplace’s primary delivery partner in which it holds a significant minority stake, according to two people familiar with the early discussions. It is yet unclear how much Snapdeal is willing to pay for…
SIDBI picks eight ventures to invest Rs 428 cr in startups
The Small Industries Development Bank of India (Sidbi) has chosen eight venture funds to invest in startups as defined under the Startup India Action Plan and will support them with a corpus amount of Rs 428 crore. Sidbi’s Venture Capital Investment Committee (VCIC), which comprises former …
Mobikwik aims 5X rise in GMV in 2 years
Mobile wallet player Mobikwik aims to generate a gross merchandise value of $2 billion, on the back of reaching 150 million users in about two years’ time, up five times from its present base. The Gurgaon-based company which competes with market leader Paytm, intends to achieve this target …
BigBasket mulling to invest up to Rs 90 crore for recruiting more farmers to its network
BigBasket plans to invest up to Rs 90 crore to recruit hundreds more farmers to its network, beefing up its supply chain ahead of a potential entry of deep-pocketed global corporations including Walmart and Amazon into India’s online grocery market. The investment, which follows a $150 mill…
Exporters too can give Made-in-India tag
A section of Indian exporters will be able to certify goods headed for Europe from 2017 to the effect that they were made in India, a measure that will help reduce processing time as well as costs. This facility will be available to traders exporting goods under the European Union’s special…
Freecharge to take on Paytm on taxi fare payments
While ride hailing services Ola (ANI Technologies Pvt. Ltd) and Uber Inc. strive for a pole position in the domestic ride hailing market, there is another battle silently brewing among wallet and payment service providers Paytm (One97 Communication Pvt. Ltd) and Freecharge to make the most of the…
Small scale firms get lending hand from Paytm, Fincos
Mobile payments and commerce platform Paytm said it has tied up with financial institutions to facilitate collateral-free working capital loans of up to Rs 1 lakh for small merchants and service providers like kirana store owners and auto drivers. Paytm will pass on the credit profile, which is b…