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Udaan to buy back employee stocks worth Rs 165-175 crore SECTIONS Last Updated: Apr 29, 2021, 04:28 PM IST Share Synopsis Udaan joins a slew of companies such as Cred, Swiggy, Razorpay, Acko, Zerodha and Browserstack that have announced Esop buybacks in the past six months ETtech Illustration: Rahul Awasthi Online business-to-business marketplace Udaan will buy back employee stocks worth Rs 165-175 crore, joining a batch of Indian startups that have facilitated such liquidity programmes for their staff amid the Covid-19 pandemic, which has hit the domestic economy hard. In an internal email to all employees, the company said, “We want to… reward our employees who have worked relentlessly over the last many months and years with a meaningful wealth creation opportunity through an employee stock ownership plan (Esop) liquidity offer 2021. ....
Grocery wars SUBSCRIBE Thank you for subscribing to Daily Top 5 We ll soon meet in your inbox. / Daily Top 5 Good evening, Tata Digital Limited, which has been looking to buy into BigBasket for many months, received a go-ahead from India’s competition watchdog earlier today. It sets the stage for an almighty tussle with Amazon, Reliance JioMart and Flipkart. Also in today’s letter: FB blocks Modi hashtag ‘by mistake’ Udaan announces share buyback Tata-BigBasket deal gets CCI approval The stage is set for a battle of the giants in India s fast-growing online grocery segment. Tata Sons proposal to buy a majority stake in Alibaba-backed BigBasket has got the go-ahead from the Competition Commission of India (CCI). ....
NR Narayana Murthy’s Catamaran Ventures in talks to pick up stake in Udaan SECTIONS Share Synopsis A minority stake in Udaan will give NR Narayana Murthy’s Catamaran Ventures a foothold in India’s B2B e-commerce space dominated by IndiaMart, JioMart, Amazon Business and Flipkart. It is currently a majority shareholder in Cloudtail, the biggest seller on Amazon India. ETtech Infosys co-founder NR Narayana Murthy s family office Catamaran Ventures is currently a majority shareholder in Cloudtail, the biggest seller on Amazon India. Mumbai:Catamaran Ventures, the private investment firm launched by Infosys’ co-founder NR Narayana Murthy, is in talks to purchase a small minority stake in Udaan from some employees of the business-to-business marketplace. ....
Image: Shutterstock.com When Aneesh Reddy, founder of Capillary Technologies in Bengaluru, was trying to raise money in 2015, there weren’t that many venture capital companies operating in India that could hand out cheques of $30 million to $50 million the range Reddy was looking for, to buy out another company he was interested in. “Most VC folks would dry up at $20 million or even $15 million, and PE firms started at $75 million,” he recalled in a recent interview with Forbes India. Reddy then became one of the rare Indian tech exceptions at the time, who successfully raised money from a private equity firm instead, at a stage when PE companies usually didn’t move in. ....