Krishna Mali 1933 posts 2 comments

India settled Furniture subscription platform, Furlenco has raised Rs 20 crore in debt from BlackSoil Capital. Founded in 2012 by Mr. Ajith Mohan Karimpana (Ex-Goldman Sachs), Furlenco operates as a Furniture Subscription Platform. To date, the company has furnished over 150,000 homes across 8 major cities in India and has an AUM worth INR 200+ Cr. Speaking on the fundraise, Ajith Karimpana, Founder & CEO…

India based education fintech company GrayQuest has announced its partnership with SBM Bank to facilitate access to affordable funds for clients. "Through the partnership, SBM Bank India will not only facilitate access to affordable funds to GrayQuest's clients but also will empower them to address their holistic banking requirements," the statement said. Speaking on the partnership, Rishab Mehta, Founder…

The Competition Commission of India (CCI) has approved the Flipkart and Aditya Birla Fashion and Retail Ltd's (ABFRL) Rs 1500 crore deal. CCI in its tweet said, "The commission approves the acquisition of 7.8% minority stake in Aditya Birla Fashion And Retail Ltd by Flipkart Investments Private Ltd." https://twitter.com/CCI_India/status/1351862851112038405?s=19 The deal was announced in October 2020.

The Security Exchange Board of India (SEBI) on Wednesday approved the Reliance Retail and Future Group deal. SEBI in its letter of approval listed several conditions under the composite scheme of the arrangement, and also raised the apprehension raised by Amazon. "Company shall ensure that the shares of the transferee entity issued in lieu of the locked-in shares of the transferor entities are subjected to…

AlphaICs has secured $8 million in series B round funding from Endiya Partners and Emerald Technology Ventures. The funding also saw the participation of Aaruha Technology Fund, IREON Ventures, Canal Ventures, JSR Corporation, CBC Co. Ltd, Whiteboard Capital, ReBright Partners, and 3One4 Capital. "The company will use the fund to develop the software stack and to build system solutions for its large markets,"…

Digital Banker, Paytm Payment Bank has announced its partnership with Suryoday Small Finance Bank to facilitate fixed deposit services for its account holders. "With this new partnership, Paytm Payment Bank Ltd (PPBL) has become the first payment bank in the country to launch the multi-partner FD service where account holders can select the partnered bank as per their preferences," the Bank in its statement said.…

Larsen & Toubro (L&T) infotech on 20 January said, "Its CFO, Ashok Kumar Sonthalia has resigned from the company." L&T infotech in a regulatory filing said, "The Board of Directors in a meeting held on January 19, 2021 inter-alia considered the registration of Mr. Ashok Kumar Sonthalia on account of personal reasons and accepted the same to be effective from close of business hours of January 25."

Adani Green Energy Ltd has said, "It has commissioned a 150MW solar power plant in Kutch, Gujarat." The company in its statement said, "Despite all the challenges of the global pandemic COVID-19, unprecedented rain, and flood in Kutch, the team of experts made it possible to commission the project three months before its scheduled commissioning date." "This plant has a power purchase agreement (PPA) with…

Bengaluru based logistics and distribution startup Ripplr has raised $3 million in series A round funding from Zephyr Peacock India Growth fund and others. Led by Zephyr Peacock India growth fund the funding also saw the participation of Yukti (A Chand family office) along with its existing investors 3One4 Capital. Speaking on the investment in Ripplr, Pankaj Peacock said, "FMCG companies and emerging consumer…

India based consumer food company, LT Foods has said, "It has acquired 30% stake in the Netherlands based organic speciality food company Leev.nu." LT Foods in its press release said, "Nature Bio Foods BV, a subsidiary of LT Foods has acquired 30% stake in Leev.nu, with an option to acquire a future 21% stake at the end of five years." Speaking on the development, Vijay Kumar Arora, Chairman & Managing…