Ant may dilute Paytm stake
Want this newsletter delievered to your inbox?
SUBSCRIBE
Thank you for subscribing to Morning Dispatch
We ll soon meet in your inbox. / Morning Dispatch
Ant Group may not be able to participate in
Paytm s IPO. Now, sources tell us the Chinese company will probably reduce its 30.33%
stake in Paytm s parent firm ahead of its IPO. Read on to find out why.
Also in this letter:
Old RBI rule takes bite out of
Zomato IPO
Ant Group likely to sell a sixth of its Paytm stake before IPO
China’s Ant Group is likely to sell at least a sixth, or 16.67%, of its 30.33% stake in One97 Communications, the parent company of Paytm, ahead of the fintech firm’s initial public offering in November, sources told us.
Unicorn in the making: Zomato money to take Grofers valuation over $1 billion
businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Zomato s $100 million investment to turn Grofers into a unicorn – TechCrunch
techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.
Tata Group reaches agreement to buy majority stake in BigBasket
Indian conglomerate Tata Group has reached an agreement to acquire a majority stake in grocery delivery startup BigBasket, two sources familiar with the matter told TechCrunch.
The salt-to-software giant is buying over 60% stake in BigBasket in a deal that values the Indian startup between $1.8 billion to $2 billion, sources said, requesting anonymity as the deal is still private. BigBasket has raised more than $750 million prior to the deal with Tata.
Chinese internet giant Alibaba, which owns nearly 30% stake in BigBasket, and a handful of other investors including Abraaj Group are getting a near complete exit from the startup as part of the deal with Tata Group, the sources said. New Delhi introduced restrictions last year that made it difficult for Chinese investors to write checks to Indian firms.