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Former Naval Commander Anil DSouza sells stake in Simpliance

Economic Times

Economic Times · 1y ago

Former Naval Commander Anil DSouza sells stake in Simpliance

Former Naval Commander Anil Prem DSouza and his investment firm Cbensol have sold their stake in Simpliance Technologies, a Bengaluru-based tech startup specializing in labor compliance processing. The sale, valued at Rs 28 crore, saw the stake purchased by Aparajita. DSouza, who founded Simpliance in 2015, plans to explore opportunities in the waste management and real estate sectors. Simpliance was originally backed by Quess Corp, which sold its stake to Aparajitha Corporate Services in October 2022.

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CBI files charges against Anil Ambani’s cos, Yes Bank ex-CEO Rana Kapoor family in fraud cases

Economic Times

Economic Times · 11d ago

CBI files charges against Anil Ambani’s cos, Yes Bank ex-CEO Rana Kapoor family in fraud cases

The Central Bureau of Investigation (CBI) filed chargesheets accusing Anil Ambani’s Reliance Group companies and former Yes Bank CEO Rana Kapoor of fraudulent transactions. Charges include diverting Yes Bank funds to struggling group companies via Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL). Kapoor and Ambani allegedly conspired to cause significant financial losses to Yes Bank, benefiting Kapoor’s family and Anil Ambani’s group through concessional loans and investments.

Exclusive: Greenko founders buy Orix Corp.'s 20% in Greenko Energy for $1.4 bn

Livemint

Livemint · 3m ago

Exclusive: Greenko founders buy Orix Corp.'s 20% in Greenko Energy for $1.4 bn

AM Green B.V., owned by Greenko Group founders Anil Chalamalasetty and Mahesh Kolli, has bought Orix Corp.'s 20% stake in Greenko Energy Holdings for $1.4 billion. This deal values Greenko at $7.5 billion, with founders retaining a 90% stake in AM Green B.V. It involves significant cash and stock components, marking one of India's largest green energy sector transactions. The announcement is set for Monday.

Vedanta in talks with IHC unit, investors for Zambian copper stake sale

VCCircle

VCCircle · 1y ago

Vedanta in talks with IHC unit, investors for Zambian copper stake sale

Vedanta Resources, owned by Indian billionaire Anil Agarwal, is in talks with investors, including International Resources Holding (IRH), to sell a stake in its Zambian copper assets. IRH, a unit of UAE's International Holding Company, is conducting due diligence on acquiring a stake in Konkola Copper Mines (KCM). Vedanta wants the funds to revive operations and boost copper output. While IRH has shown interest in acquiring more than a 30% stake, negotiations are ongoing. Other long-term investors are also exploring investment opportunities in KCM. Vedanta aims to gradually increase copper output at the Konkola mines over the next five years.

Flipkart veteran Anil Goteti launches Gen Z and Millenial-focussed fintech startup

Money Control

Money Control · 2y ago

Flipkart veteran Anil Goteti launches Gen Z and Millenial-focussed fintech startup

Anil Goteti, a former executive at Flipkart, has launched a fintech startup aimed at Gen Z and millennial consumers. The startup, whose name has not been disclosed, intends to cater to the financial needs of the younger demographic. Goteti's venture aims to leverage technology and innovation to provide tailored financial services and solutions to this target market segment.

Sauce.vc picks up stake in GRM Overseas unit

VCCircle

VCCircle · 1y ago

Sauce.vc picks up stake in GRM Overseas unit

Early-stage venture capital firm Sauce.vc has acquired a stake in GRM Foodkraft, a subsidiary of FMCG company GRM Overseas. The Mumbai-listed company sold over 3% stake in Foodkraft to Sauce.vc for an undisclosed amount. Sauce.vc also acquired an additional 1% stake from other shareholders. GRM Foodkraft sells various food products and operates in both online and offline retail. Sauce.vc aims to utilize Foodkraft's supply chain and distribution capabilities to launch new food brands. Sauce.vc focuses on investing in the food and beverage, personal care, and lifestyle sectors.

GlobalBees Raises Stake In Solarista With INR 5.88 Cr Investment

Inc42 · 1y ago

GlobalBees Raises Stake In Solarista With INR 5.88 Cr Investment

GlobalBees, an e-commerce roll-up firm, has acquired an additional 22.5% stake in Solarista Renewables, a brand that sells bags and rainwear under the name 'The Clownfish'. The all-cash deal, worth INR 5.88 Cr, follows an agreement between shareholders in April 2022, and now brings GlobalBees' total stake in Solarista to 75%. This investment comes shortly after Brainbees Solutions, the parent company of FirstCry, announced a AED 50 Mn (INR 114.1 Cr) investment in its UAE subsidiary, FirstCry Management DWC LLC.

Info Edge To Invest Another INR 15 Cr In Agritech Startup Gramophone

Inc42 · 1y ago

Info Edge To Invest Another INR 15 Cr In Agritech Startup Gramophone

Indian internet company Info Edge is set to increase its stake in agritech startup Gramophone with an investment of INR 15 crore ($1.8m). The investment, made via subsidiary Startup Investments (Holding) Ltd, will take Info Edge's stake in Gramophone to 39.5%. Gramophone, founded in 2016, sells farming supplies such as seeds, fertilisers and pesticides directly to farmers and through small retailers. Info Edge has previously invested in the startup and its board also approved the divestment of SIHL's 34.93% holding in B2B catalogue company Wishbook Infoservices.

Vedanta raises $250 million to settle Zambian copper mine debts, plans to sell 30% stake: Report | Mint

Livemint

Livemint · 1y ago

Vedanta raises $250 million to settle Zambian copper mine debts, plans to sell 30% stake: Report | Mint

Vedanta Resources has secured the funds needed to pay off the creditors of its Zambian copper mine, Konkola Copper Mines (KCM). The company, led by billionaire Anil Agarwal, will have approximately $250 million to settle its debts. Vedanta regained control of KCM last year after a five-year battle with the Zambian government. The company still needs to raise an additional $1 billion to revive mining operations and invest in the Konkola Deep Mining Project. Vedanta may sell a 30% stake in KCM to raise capital, while the Zambian government owns a 20% stake in the mine.

Samunnati appoints former Unilever exec Badri Narayanan as group CEO

VCCircle

VCCircle · 8m ago

Samunnati appoints former Unilever exec Badri Narayanan as group CEO

Samunnati Financial Intermediation Services has appointed Badri Narayanan, a former Unilever executive, as its new group CEO. Narayanan, with over 24 years of experience at Unilever, will succeed Anil Kumar SG, the company’s founder and current CEO. Kumar will now serve as managing director. Samunnati, which supports smallholder farmers, is backed by Accel and Elevar Equity. The company saw a net profit of Rs 21 crore in the financial year ending March 2024.

Anil Ambani Named in Bank of India Fraud Case

StartupTalky

StartupTalky · 1m ago

Anil Ambani Named in Bank of India Fraud Case

Bank of India declared Reliance Communications' loan accounts fraudulent, naming former director Anil Ambani, following similar actions by SBI. The bank cited alleged fund diversion regarding a 2016 INR 700-crore loan meant for capital and operating expenses, half of which was reportedly misallocated. Ambani challenged this, labeling it biased and lacking due process. He claims no operational role at RCom and intends to seek legal redress, with related insolvency proceedings ongoing in court.

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