Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Paytm Mall likely to raise 4,000 crore

Paytm Mall has initiated discussions to raise a fresh round of Rs3,000-4,000 crore ($460-610 million), reports Economic Times citing two people aware of the development.

The Noida-based etailer, in which China’s Alibaba and its payments affiliate Ant Financial own a majority stake, has ambitious growth targets as it jostles for third place in a market dominated by India’s Flipkart and the US-based Amazon. Read more

Seven Islands Shipping eyes Rs650 crore from IPO

Seven Islands Shipping Ltd plans to raise as much as Rs650 crore through an initial public offering (IPO), reports Mint citing two people aware of the development. Seven Islands Shipping, which started operations in 2002, has acquired more than 15 vessels and has operations along the Indian coast, Arabian Gulf and South-East Asia. It operates in two major sub-segments: crude oil trade and liquid products trade. Read more

Blume Ventures to raise $80-100 million fund by Q1 of 2018

Early-stage venture capital (VC) firm Blume Ventures is all set to launch its third fund for which it is planning to raise $80-100 million by the first quarter of 2018, managing partner Karthik Reddy told Mint. Blume Ventures was founded in 2010 by Reddy and Sanjay Nath. It raised Rs100 crore, or around $20 million at the time, for its debut fund in 2011. Read more

Lenskart buys minority stake in US start-up Ditto for $1 million

Online eyewear retailer Lenskart Solutions Pvt Ltd. has invested $1 million for a minority stake in US-based start-up Ditto, which develops graphical 3D models for Lenskart’s virtual trial feature, reports Mint. The online retailer already employs Ditto’s 3D try-on feature on its website and app. Ditto is an e-commerce portal that claims to use patented technology to help users find the right set of eyewear. Read more

Chris Gayle acquires minority stake in AR start-up FlippAR

Cricketer Chris Gayle has picked up a minority stake in augmented reality (AR) start-up FlippAR, the company’s founder Vivek M. Jain said in an interview. Gayle will join the Bengaluru-based start-up’s board and promote its products as brand ambassador. Gayle’s investment in the company comes just months after he invested an undisclosed amount in another Bengaluru-based AR start-up named IONA, reports Mint. Read more

Godrej Agrovet IPO opens on 4 October, price band at Rs450-460 per share

Godrej Agrovet Ltd, the agri-business unit of Godrej Industries Ltd, on Tuesday said it will launch its approximately Rs1,157 crore initial public offering (IPO) on 4 October, reports Mint. Godrej Agrovet has priced its share in a band of Rs450-460. The IPO will close on 6 October. Read more

Under investors’ pressure, IDFC and Shriram to redraw merger formula

IDFC Ltd and the Shriram Group have decided to abandon the merger plan worked out in July this year as shareholder pressure and dilution fears force them to examine a new, less complicated structure, reports Economic Times. The two groups had signed a deal in July to explore a complex combination of the various companies to create a mega lending-cum-insurance business. Read more

Tesla in talks with government for an India drive

Elon Musk-founded Tesla, which makes electric cars, has initiated talks with the government to enter India through the single-brand retail route, which comes with several riders including mandatory sourcing of up to 30% of the value of goods sold in the country, reports The Times Of India (TOI). The development comes months after Musk had tweeted about the high import duty and sourcing requirements. Read more

HUL enters e-commerce business with premium tea

Hindustan Unilever plans to sell premium tea through its own portal, marking its entry into the e-commerce business in India. Until now, the country’s largest consumer goods company has been selling its products online through marketplaces such as Big Basket and Amazon.

HUL’s first direct-to-consumer venture will mostly target gifting segment consumers with pricier products under the Brooke Bond Taj Mahal brand and will compete with Ratan Tata-backed Teabox, an online marketplace, reports TOI. Read more

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