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News on Medial
Grapevine: Unacademy, CRED, OYO, NSE and HDB Financial in news
VCCircle
·
3m ago
Medial
Key developments in the business world include Unacademy's co-founder reportedly stepping down, CRED raising new capital, and OYO reviving its IPO plans. HDB Financial is close to obtaining regulatory approval for a substantial listing. Additionally, NSE shares have gained amid a potential settlement with SEBI.
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Grapevine: JSW Energy, Lite Bite, BluPine, Table Space, and HDB Financial in news
VCCircle
·
8m ago
Medial
JSW Energy is looking to acquire O2 Power, while shareholders of Lite Bite Foods are considering selling a minority stake. Investment bankers have approached Actis with potential offers for BluPine Energy. Table Space has begun project implementation, and HDB Financial Services is planning to raise capital through a public issue.
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Grapevine: Oyo, Lightspeed, Peak XV, Excitel Broadband in news
VCCircle
·
7m ago
Medial
Some early investors in hospitality startup Oyo are reportedly in discussions with family offices to sell part of their stakes. Meanwhile, potential investors, including private equity firms, are considering investing in Excitel Broadband. The news highlights ongoing investment negotiations involving notable companies like Oyo and Excitel, showing a dynamic interest in the hospitality and broadband sectors. Among those involved, Lightspeed Venture Partners is mentioned as being in talks regarding Oyo's stake sales.
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Grapevine: Oyo, BBC Studios, AkzoNobel India, JSW Paints, TPG, and SIDBI in news
VCCircle
·
7m ago
Medial
Oyo intends to file its Draft Red Herring Prospectus (DRHP) by the first quarter of the next financial year. Meanwhile, BBC Studios is contemplating withdrawing from its Indian content business. Additionally, JSW Paints and TPG are in discussions about forming a partnership to make a bid for AkzoNobel India. These strategic business moves highlight significant shifts and negotiations within the hospitality and manufacturing sectors in India.
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Grapevine: Unacademy, Allen, Access Healthcare, Neuberg, KKR, others in news
VCCircle
·
8m ago
Medial
Private equity firms are competing for a majority stake in Access Healthcare, while Allen Career Institute is in discussions to merge with Unacademy. Kotak Pre-IPO Opportunities Fund is close to finalizing a deal for a 15% stake in a diagnostics company.
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Unacademy seeks online, offline CFOs to fuel growth
Livemint
·
1y ago
Medial
Edtech unicorn Unacademy is looking to hire two chief financial officers (CFOs) to oversee its online and offline businesses. Pratik Dalal, the current finance head of Cred, is likely to join Unacademy to head the offline business, as the company aims to have separate CFOs for each line of business. This move follows the departure of several high-level executives and a slowdown in the offline business. Unacademy has raised $877 million and was valued at $3.44 billion in 2021. However, the company is facing challenges as its online business growth moderates and its offline business reports losses.
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HDFC Bank restarts talks with Mitsubishi UFJ for HDB Financial stake sale ahead of IPO: Report | Company Business News
Livemint
·
8m ago
Medial
HDFC Bank is reportedly in discussions with Mitsubishi UFJ Financial Group (MUFG) for a stake sale in its subsidiary HDB Financial before its planned initial public offering (IPO). Talks between the two companies began earlier in the year but fell through due to conflicting valuations. HDFC Bank is said to be more flexible this time in negotiating valuations. The discussions aim to address RBI regulations that require banks to reduce their stake in subsidiaries within two years. HDFC Bank currently holds a 94.36% stake in HDB Financial.
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Grapevine: Boat, Zomato, Brookfield, Porter, Piramal-Bain ARC, Oyo, MPL in news
VCCircle
·
9m ago
Medial
Gentari Sdn Bhd will acquire a renewables portfolio from Brookfield Asset Management. Zomato has hired Morgan Stanley, Boat has appointed bankers for their QIP, while Oyo, Porter, and Mobile Premier League (MPL) are also making headlines. Private equity firms are reportedly in talks to invest in Porter.
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Unacademy Appoints Pratik Dalal As CFO For Offline Vertical
Startup News FYI
·
1y ago
Medial
Unacademy has appointed Pratik Dalal as the CFO of its offline business, Unacademy Centres. Dalal previously served as the head of finance at fintech unicorn CRED and has worked with companies like Flipkart and Ola Cabs. This announcement follows the resignation of Unacademy's previous CFO, Subramanian Ramachandran. Despite a series of key executive departures, Unacademy has managed to reduce its cash burn and saw an increase in operating revenue in the past fiscal year.
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Former Unacademy executive Vivek Sinha nets $11 Mn for his new Edtech Venture
Inc42
·
1y ago
Medial
Former Unacademy executive Vivek Sinha has raised $11 million in funding for his new edtech startup. The funding round included participation from Lightspeed Venture Partners, Matrix Partners, and angel investors such as OYO CEO Ritesh Agarwal and Unacademy CEO Gaurav Munjal. Sinha's startup, focused on the upskilling sector and supporting the healthcare industry, remains undisclosed in its name. Sinha left his position as COO of Unacademy in August and is actively seeking more angel investors for the funding round.
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Unacademy Appoints former CRED finance head Pratik Dalal as CFO for offline vertical
Inc42
·
1y ago
Medial
Bengaluru-based edtech unicorn, Unacademy, has appointed Pratik Dalal as the CFO of its offline business, Unacademy Centres. Dalal, who previously served as the head of finance at fintech unicorn CRED, brings diverse experience in corporate banking, fintech, and consumer internet. This announcement follows the resignation of Unacademy's previous CFO, Subramanian Ramachandran, three months ago. Unacademy has witnessed several executive departures in the past two years. Despite this, the startup has managed to reduce its cash burn and achieve growth in its offline business. Founded in 2015, Unacademy boasts a vast network of educators and learners and has raised over $800 million in funding.
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