Author: Deal Street Asia Online News

India’s Paytm posts 32% revenue growth in Q2 amid strong loan growth; losses nearly halvePaytm posted an operating profit for the fourth straight quar…

Paytm, one of the first Indian startups to go public, announced on Friday that its revenue for the second financial quarter ended Sept. 30, 2023 rose 32% year-on-year on the back of a steady growth in loans at its financial services business. The Vijay Shekhar Sharma-led digital payments firm recorded a revenue of Rs 2,519… Continue reading India’s Paytm posts 32% revenue growth in Q2 amid strong loan growth; losses nearly halvePaytm posted an operating profit for the fourth straight quar…

India’s Adani gets $3.5b loan to refinance debt taken to buy ACC Ltd and Ambuja

The cement business of Indian billionaire Gautam Adani’s flagship group said on Friday it had secured a new $3.5 billion loan to refinance debt it had taken to buy ACC Ltd and Ambuja Cements last year. The refinancing of the loan was concluded with 10 international banks including DBS, First Abu Dhabi Bank and Mizuho… Continue reading India’s Adani gets $3.5b loan to refinance debt taken to buy ACC Ltd and Ambuja

India Digest: BYJU’s in talks with PEs for Aakash stake sale; Gopal Snacks secures funding

Indian edtech major BYJU’s is reportedly in talks with private equity majors including Bain Capital and KKR for the sale of a controlling stake in its test preparation arm Aakash, The Economic Times reported, while Gopal Snacks has secured pre-IPO funding, according to The Mint. BYJU’s in talks with PE firms to sell stake in… Continue reading India Digest: BYJU’s in talks with PEs for Aakash stake sale; Gopal Snacks secures funding

VinFast inks deal with US fund Yorkville for up to $1b share subscription

Vietnamese electric vehicle (EV) maker VinFast said on Friday it has entered into a share subscription of up to $1 billion with US-based fund Yorkville Advisors as it seeks to fund expansion in overseas markets. VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion worth of… Continue reading VinFast inks deal with US fund Yorkville for up to $1b share subscription

Temasek-backed fashion platform Poshmark to exit India, UK, Australia

Temasek-backed fashion platform Poshmark has shut down its marketplaces in Australia, India, and the UK, the company announced on Friday. The US-based company wants to focus on its North America business and drive meaningful growth in its core markets of the United States and Canada, according to a press release. “Poshmark’s services in the United… Continue reading Temasek-backed fashion platform Poshmark to exit India, UK, Australia

Fortress acquires Japanese department store operator Sogo & Seibu for $1.5bFortress acquired Sogo & Seibu from Seven & i Holdings Co Ltd, the owner of…

Global asset manager Fortress Investment Group has acquired Sogo & Seibu, Japan’s third-largest department store operator, for $1.5 billion, the deal’s financial advisor said. Fortress acquired Sogo & Seibu from Seven & i Holdings Co Ltd, the Tokyo-headquartered owner of global convenience store chain 7-Eleven, according to an announcement released by Houlihan Lokey. Sogo &… Continue reading Fortress acquires Japanese department store operator Sogo & Seibu for $1.5bFortress acquired Sogo & Seibu from Seven & i Holdings Co Ltd, the owner of…

AI-related firm Chinese firm Zhipu raises over $341m this year

Chinese artificial intelligence-related firm Beijing Zhipu Huazhang Technology said on Friday it has raised over 2.5 billion yuan ($341.82 million) this year. Investors have included Chinese tech giants Alibaba, Tencent, Meituan, Xiaomi, as well as Hillhouse and Legend Capital, Zhipu said. Reuters Go to Source

India Digest: Tata Motors buys stake in Freight Tiger; BharatAgri raises $4.3m

Tata Motors on Thursday announced that it has signed an agreement to acquire a 26.79% stake in Freight Commerce Solutions Private Limited (Freight Tiger) for a consideration of Rs 150 crore ($18 million). Separately, BharatAgri has raised $4.3 million in its Series A funding round led by Arkam Ventures. Tata Motors picks 26.79% stake in… Continue reading India Digest: Tata Motors buys stake in Freight Tiger; BharatAgri raises $4.3m