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NoBroker.com raises $51 million from General Atlantic, others

Brokerage-free real estate listing platform, NoBroker.com raised $51 million in a series C round led by US-based private equity firm General Atlantic, the company said. Other investors who participated include early stage venture capital fund Rocketship.vc and two existing investors at the company, BEENEXT Ventures and SAIF Partners. The Bengluru-based technology firm, that allows its subscribers to rent and buy homes online, plans to expand its operations to top ten cities in India in the next one year, and build its technology stack and recommendation engine, it said. Mint reported on 19 Nov that home rental startup, NestAway Technologies was in initial talks to raise $100 million and may end up securing $150 million given that there’s strong investor demand. Other startups offering co-living and home rental services in the country are Oyo Living, ZiffyHomes and CoHo.

Edelweiss arm buys Essel Infra’s two transmission assets

A fund managed by Edelweiss agreed to buy two transmission assets owned by Essel Infraprojects, Darbhanga-Motihari Transmission Ltd and NRSS XXXI (B) Transmission Ltd, Mint reported citing two people familiar with the development. In October 2018, the Subhash Chandra-led Essel group had agreed to sell the two assets to Sekura Energy Ltd, a company owned by Edelweiss Infrastructure Yield Plus fund. The Edelweiss fund also has the right to purchase two other transmission assets owned by Essel—Warora-Kurnool Transmission Ltd and NRSS XXXVI Transmission Ltd, which are expected to be commissioned this financial year. The delay in sale was caused due to time taken in various regulatory approvals, one of the persons told Mint. The collective enterprise value of the four transmission assets could be as much as 6,000 crore, according to an Economic Times report.

China’s Qiming Venture Partners back Indian vernacular platform Pratilipi in Rs105 crore round

Bengaluru-based online startup, Pratilipi secured 105 crore funding in a round led by China-based Qiming Venture Partners, The Economic Times reported. The round also saw participation from the existing investors-- Nexus Venture Partners, Omidyar Network India, Shunwei Capital, Contrarian Vriddhi Fund and WEH Ventures, taking the total funds raised to more than $20 million. The user-generated content startup, which allows its users to read stories and write their own in ten Indian languages, has over 63 lakh readers and more than 92,000 writers enrolled on its platform. The funds will be used to add newer forms of storytelling such as audio stories, improve its technology infrastructure, including the recommendation and personalization engines, and to expand the number of writers on its platform, the company said.

Private equity firms queue up to acquire GA-backed Citius Tech

Global funds Bain Capital, Blackstone Group, KKR & Co, CVC Capital Partners, GIC and homegrown private equity firm ChrysCapital have been shortlisted for a second round of negotiations to acquire a controlling stake in healthcare technology company CitiusTech, The Economic Times reported. The potential deal could value Citius at around $900 million and will allow General Atlantic (GA) to cash out of its five-year-old investment in it.

American fund GA had invested $111.25 million in the company in March 2014 and owns an around 32% stake. Founders Rizwan Koita and Jagdish Moorjani, and employees hold the remaining shares. JP Morgan is running the sale process.

Goldman, SSG Capital in race to buy RattanIndia Power

Global investment banker, Goldman Sachs and Hong Kong's SSG Capital Management Ltd are in race to buy RattanIndia Power's bad loans worth 2,500-3,500 crore apart from the other contenders, The Economic Times reported citing two finance industry executives familiar with the matter. The distressed energy firm, that defaulted on nearly 20,000 crore of loans, has two under-construction thermal power plants at Nashik and Amravati in Maharashtra. State-run Power Finance Corporation (PFC) had filed an insolvency plea against RattanIndia Power, formerly known as Indiabulls Power in September, 2018. The other lenders involved in the negotiations are State Bank of India, Bank of India, Axis Bank, Bank of Baroda, and IDBI Bank. Read more here.


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