The Carlyle Group, through its special purpose vehicle CA Swift Investments, has sold shares worth $74 million (Rs 607 crore) in Indian logistics firm Delhivery, according to data available on NSE. CA Swift Investments offloaded 18.4 million shares, amounting to a 2.5% stake in Delhivery. As of the quarter ended Sept, CA Swift Investments owned… Continue reading Carlyle Group offloads 2.5% stake in Indian logistics firm Delhivery for $74mAs of the quarter ended Sept, CA Swift Investments owned a 5.07% stake in…
Author: Deal Street Asia Online News
People Digest: Nykaa CFO resigns; Entrepreneur First appoints India head
Indian online beauty retailer Nykaa on Tuesday said its chief financial officer (CFO) Arvind Agarwal has resigned from the company. Separately, Entrepreneur First has named former Swiggy executive Rahul Samat as partner and India head, VCCircle reported. Nykaa CFO resigns Online beauty retailer Nykaa’s chief financial officer (CFO) Arvind Agarwal has resigned from the firm,… Continue reading People Digest: Nykaa CFO resigns; Entrepreneur First appoints India head
India: Paytm shares crash to record low as analysts flag threat from Reliance’s Jio FinanceMacquarie says Jio Financial Services can pose growth and m…
Shares of Indian digital payment services provider Paytm plunged to a record low on Tuesday after brokerage firm Macquarie highlighted a potential threat to the SoftBank-backed firm from Reliance Industries’ entry into the payment services sector. The stock closed down over 11% at Rs 475.25 per share on Tuesday, having lost 77% from its IPO… Continue reading India: Paytm shares crash to record low as analysts flag threat from Reliance’s Jio FinanceMacquarie says Jio Financial Services can pose growth and m…
Credit Suisse fires one-third of China-based investment bankers
Credit Suisse has laid off about one-third of its China-based investment banking team and nearly half of its research department, sources with knowledge of the matter told Reuters, as part of a global restructuring and as its China business slows. The sources declined to be identified as the information is confidential. Credit Suisse declined to… Continue reading Credit Suisse fires one-third of China-based investment bankers
China set to fine Ant Group over $1b in another tech crackdown
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul. The People’s Bank of China (PBOC), which has been driving the revamp at Ant after the… Continue reading China set to fine Ant Group over $1b in another tech crackdown
UAE based AUM Ventures launches $30m India-focused fund
United Arab Emirates-based AUM Ventures has launched a $30-million debut venture capital fund targeting tech-enabled, innovation-backed and consumer-focused Indian startups. The firm has received an anchor commitment from a prominent Dubai-based family office and is targeting global family offices/HNIs to subscribe to the fund, AUM Ventures founding partner Chetan Mehta told DealStreetAsia. To date, AUM… Continue reading UAE based AUM Ventures launches $30m India-focused fund
Asia Digest: PAG, Gaw Capital among Global Switch bidders; CoverGo raises $15mKKR, EQT, Gaw Capital, PAG, and Stonepeak are among the bidders selected…
Asian buyout forms PAG and Gaw Capital are among the bidders finalised UK-based data centre company Global Switch Holdings. Separately, insurance SaaS platform CoverGo has raised $15 million in Series A funding round. KKR, EQT in race for Global Switch Private equity firms including EQT and are among bidders shortlisted to buy data centre company Global Switch… Continue reading Asia Digest: PAG, Gaw Capital among Global Switch bidders; CoverGo raises $15mKKR, EQT, Gaw Capital, PAG, and Stonepeak are among the bidders selected…
Indonesia’s SIRCLO sacks 8% staff, citing unfavourable economic conditions
Indonesian e-commerce enabler SIRCLO has laid off 160 employees, or 8% of its staff, as part of efforts to adapt to unfavourable macroeconomic conditions, the company announced on Tuesday. The announcement comes amid a string of layoffs at tech startups across Indonesia and the rest of Southeast Asia as economic headwinds impacted their growth and… Continue reading Indonesia’s SIRCLO sacks 8% staff, citing unfavourable economic conditions
IFC weighs $40m senior loan for Bangladeshi lender Dutch Bangla Bank
World Bank Group member International Finance Corporation (IFC) has proposed to extend up to $40 million in senior unsecured loans to Dutch Bangla Bank Limited (DBBL), one of the largest banks in Bangladesh. In a disclosure, IFC said the proposed investment is a 3-year senior unsecured loan with an annual amortizing and an unfunded facility… Continue reading IFC weighs $40m senior loan for Bangladeshi lender Dutch Bangla Bank
GLP’s China logistics Fund IV hits $1.2b in first close
GLP, a global real estate logistics giant, has notched up $1.2 billion for the initial closing of its fourth China value-add logistics fund, accounting for 46% of its $2.6-billion fund size. Sponsoring GLP China Value-Add Partners IV (GLP CVA IV) were GLP’s long-term institutional investment partners, including APG Asset Management, the investment vehicle of an… Continue reading GLP’s China logistics Fund IV hits $1.2b in first close