Patanjali had acquired the erstwhile bankrupt firm known for the Nutrela brand of products in 2019 for around ₹4,350 crore through an insolvency and bankruptcy code (IBC) process. The process resulted in Patanjali owning 98.9% of the company, leaving very little public float in the stock market. With the proposed FPO, the company hopes to raise… Continue reading India: Patanjali to sell stake in Ruchi Soya via a follow-on public offer
Author: Deal Street Asia Online News
Emtek Group buys minority stake in Grab’s Indonesia unit in sign of deepening alliance
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Y Combinator-backed Betterhalf.ai raises $3m and 10 more India deal updates …
ResearchPremium Y Combinator-backed Betterhalf.ai, an AI-driven matrimonial app, has raised $3 million in a pre-Series A round of funding, per an announcement. The round saw the participation of venture capital firms S2 Capital and Quiet Capital and angel investors like Kunal Shah and Samvit Ramadurgam. The startup will use the funding to boost its app… Continue reading Y Combinator-backed Betterhalf.ai raises $3m and 10 more India deal updates …
Swiss investor SUSI Partners hits first close for Asia energy fund at $81m
Swiss infrastructure fund manager SUSI Partners has reached a first close at $81 million for its Asia Energy Transition Fund (SAETF), which will focus on investments in Southeast Asia. The fund has attracted commitments from development finance institutions (DFIs) including the Asian Infrastructure Investment Bank, Dutch development bank FMO, as well as Nordic DFIs Norfund… Continue reading Swiss investor SUSI Partners hits first close for Asia energy fund at $81m
Chinese e-commerce firm Pinduoduo beats quarterly revenue estimates
Chinese e-commerce platform Pinduoduo Inc’s quarterly revenue beat Wall Street estimates on Wednesday, driven by steady demand for online shopping following the COVID-19 pandemic. Pinduoduo has led China’s adoption of social e-commerce, by meshing online shopping with social media. Buyers can avail greater discounts when shopping in bigger groups, which has helped the Shanghai-based company challenge bigger rivals Alibaba and JD.com . Active buyers on Pinduoduo in… Continue reading Chinese e-commerce firm Pinduoduo beats quarterly revenue estimates
Asia Digest: Bangladesh’s Data Bird bags $3m; IFC loan for Vietnamese firm
Bangladeshi startup Data Bird has raised funding while IFC has extended financing to a Vietnamese wind power firm. Bangladeshi startup Data Bird raises $3m bridge round Bangladesh’s Data Bird, the company behind online travel platform ShareTrip and communications app Ridmik Keyboard, has raised a $3-million bridge round from global internet and software investor Skycatcher. The… Continue reading Asia Digest: Bangladesh’s Data Bird bags $3m; IFC loan for Vietnamese firm
Vietnam’s VinFast ropes in JPMorgan, Deutsche Bank to advise on US listing …
Automaker VinFast has added JPMorgan and Deutsche Bank to a team advising it on a planned U.S. listing, a group executive said, but sources said Vietnam’s likely first U.S. listing faces a delay due to uncertainty over regulations. “VinFast is working with advisers including JPMorgan and Deutsche Bank in the syndicate for the U.S. listing,” Le Thi Thu… Continue reading Vietnam’s VinFast ropes in JPMorgan, Deutsche Bank to advise on US listing …
Australia’s Ramsay Health Care to buy UK’s Spire for $1.4b
Australian hospital operator Ramsay Health Care on Wednesday said it would buy British peer Spire Healthcare Group for 1 billion pounds ($1.42 billion) to strengthen its healthcare business in the country, sending Spire shares up 26%. The 240 pence per Spire share offer is at a 24.4% premium to the stock’s last closing price. Spire said in… Continue reading Australia’s Ramsay Health Care to buy UK’s Spire for $1.4b
People Digest: Aviva Singlife names new CEO; GAM hires SE Asia lead
Singapore insurer Aviva Singlife and Zurich-headquartered GAM Investment Management have announced senior hires. Aviva Singlife names Pearlyn Phau group CEO Aviva Singlife announced that it has named Pearlyn Phau as new group chief executive officer (CEO), following the $2.4-billion merger of Aviva and Singlife last year. Phau’s appointment takes effect from August 18, 2021, subject… Continue reading People Digest: Aviva Singlife names new CEO; GAM hires SE Asia lead
China Digest: Lilly Asia Ventures backs Rgenta; IntoCare nets $15m …
China-headquartered Lilly Asia Ventures has backed an $18 million seed extension round for US-based Rgenta Therapeutics. In a separate development, IntoCare Medical Technology (Suzhou) Co., Ltd has raked in nearly 100 million yuan ($15 million) in a Series D round of financing led by Qiming Venture Partners. Lilly Asia Ventures backs Rgenta’s seed+ funding Massachusetts-based… Continue reading China Digest: Lilly Asia Ventures backs Rgenta; IntoCare nets $15m …