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Exclusive: Infra.Market Acquires Majority Stake In Metro Group
Inc42
·
1m ago
Medial
Infra.Market has acquired a majority stake in Metro Group, a ceramic tiles manufacturer, through a share swap deal valued at INR 200 Cr. This strategic move aims to enhance Infra.Market's presence within the tiles industry. Despite possessing cash and equivalents worth INR 275.1 Cr in FY24, the IPO-bound building materials platform has raised over $170 Mn this year. The acquisition details were disclosed through the Ministry of Corporate Affairs filings.
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Exclusive: Dubai group in talks with sovereign, PE funds to lead in race for Theobroma
VCCircle
·
9m ago
Medial
A Dubai-based consumer group is in talks with sovereign and private equity funds to secure a majority stake in bakery chain Theobroma Foods. The bakery, founded in 2004, is backed by ICICI Venture and has garnered considerable interest from investors. The group is seeking support from multiple investors to lead the race in acquiring the stake.
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Adani acquires 50.5% stake in IANS, making presence stronger in media sector
Livemint
·
1y ago
Medial
Adani Group has acquired a 50.5% stake in news agency IANS India Pvt Ltd, further expanding its presence in the media sector. Adani Enterprises, the holding company's media arm, disclosed in a regulatory filing that its subsidiary AMG Media Networks Ltd purchased the stake. This move follows Adani's previous acquisitions of Quintillion Business Media and a majority stake in broadcaster NDTV. Adani Group aims to invest ₹7 trillion ($84 billion) in infrastructure over the next decade.
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International Chemical Investors Group acquires majority stake in Hyderabad firm
VCCircle
·
1y ago
Medial
Private industrial group International Chemical Investors Group (ICIG) has acquired a majority stake in Vasant Chemicals, a Hyderabad-based manufacturer of specialty chemicals and pharmaceutical intermediates. The acquisition is part of ICIG's strategy to expand its presence in the global specialty chemicals market and will integrate Vasant Chemicals into its fine chemicals platform, WeylChem Group. This move will help Vasant Chemicals enhance its global reach and value proposition for customers. The financial details of the deal have not been disclosed.
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3one4 Capital-Backed Wint Wealth Acquires Ambium
Inc42
·
1y ago
Medial
Bengaluru-based fintech startup Wint Wealth Group has acquired a majority stake in Chandigarh-based non-banking financial company (NBFC) Ambium Finserve. The deal, which has received approval from the Reserve Bank of India, provides Wint Wealth Group with an NBFC license. Ambium Finserve has started wholesale lending operations under the brand name Wint Capital, focusing on lending to growth-stage NBFCs for onward lending. Wint Capital's loan book is expected to grow to INR 500 crore by the end of 2024. Wint Wealth Group, founded in 2020, helps customers navigate fixed deposits, corporate and sovereign gold bonds, and bond baskets.
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Infra.Market raises $50 Mn from Mars Unicorn Fund
Entrackr
·
1y ago
Medial
Infra.Market has raised $50 million from MARS Unicorn Fund which is a joint venture of Liquidity Group and MUFG. With this, MARS and Liquidity investment in the company touched $100 million. The two funds previously invested $50 million in Infra.Market in 2022. While the company didn’t disclose its valuation in fresh funding, Infra.Market was reportedly valued at $4 billion in 2022. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market sells construction materials, infrastructure goods, and technical equipment. It is targeting the $140 construction materials market, with a strong focus on the infrastructure sector. The company caters to both institutional customers (B2B) and retail outlets (D2R) in the construction materials sector. As per the company, it supplies across 16 states in India and exports to markets such as Dubai, Singapore, Jordan, and Italy, among others. Last year, Infra.Market had divested 10% of its stake worth $20 million in RDC Concrete to investors led by Ashish Kacholia. The former had acquired RDC Concrete for $90 million in September 2021. It also has a majority stake in Strata Geosystems, Equiphunt and Halonix. As of now, Infra.Market has raised around $500 million across equity and debt. According to the startup intelligence data platform TheKredible, Tiger Global was the largest external stakeholder with 21.33% followed by Accel and Nexus Ventures which commanded 16.87% and 8.46%, respectively, before this round. Infra.Market is one of the handful of unicorns in the country which managed over nine-fold growth in gross scale between FY21 and FY23 and remained profitable. As per TheKredible, its gross revenue rose to Rs 11,846 crore in FY23 from Rs 1,240 crore in FY21. During the fiscal year ending March 2023, the firm’s profit slipped 17% to Rs 155 crore from Rs 187 crore in FY22. It competes with Zetwerk, OfBuisness and Moglix.
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Infra.Market buys majority stake in textilemaker Strata Geosystems
Money Control
·
2y ago
Medial
Infra.Market, an Indian construction materials marketplace, has acquired a majority stake in Strata Geosystems, a textile manufacturing company. The move aims to strengthen Infra.Market's product offerings and expand its presence in the infrastructure sector. Strata Geosystems specializes in manufacturing geosynthetic products used in infrastructure projects. The acquisition aligns with Infra.Market's strategy of enhancing its position in the construction and infrastructure market.
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With IPO On The Card, Infra.Market Plans Fresh Funding Of Up To $200 Mn At Higher Valuation
Inc42
·
10m ago
Medial
B2B ecommerce platform Infra.Market is seeking a new funding round of $150-200 million. Current investors, such as Tiger Global, Foundamental, and Evolvence, are expected to contribute the majority of the funding, potentially increasing their stake in the company. The valuation for this round is still being negotiated but is expected to be higher than the $2.5 billion valuation achieved in the company's previous fundraise in 2021.
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Amit Jain's CarDekho acquires Revv; enters shared mobility
IndianStartupNews
·
1y ago
Medial
Jaipur-based autotech firm CarDekho Group is acquiring a majority stake in Gurugram-based self-drive car rental startup Revv for an undisclosed amount. This move marks CarDekho's entry into the shared mobility space, aligning with its strategy to integrate technology into its operations. CarDekho aims to create a complete automobile ecosystem with a seamless customer experience by incorporating Revv's shared mobility services into its portfolio. Revv, operating in 22 cities with a fleet of over 3,500 cars, was valued at $138 million as of October 2019.
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Wilmar International acquires majority stake in AWL Agri Business as Adani Group sells 20% stake
Economic Times
·
22d ago
Medial
Adani Enterprises has sold a 20% stake in AWL Agri Business Limited to Wilmar International, Singapore, for Rs 275 per share, making Wilmar the majority shareholder with nearly 64%. This divestment is part of Adani's strategy to focus on its core infrastructure business. The transaction, following a previous 13.5% Offer for Sale, aligns with regulatory compliance and results in a total cash realization of Rs 15,729 crore for Adani Group.
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Nazara Acquires 100% Stake In Subsidiary Nextwave For INR 21.6 Cr
Inc42
·
1y ago
Medial
Nazara has acquired an additional 28.12% stake in Nextwave for INR 21.6 Cr. This comes after Nazara previously acquired a majority stake in Nextwave in January 2018. However, Nazara's consolidated net profit for Q4 FY24 has declined by 98% YoY to INR 18 Lakh.
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