By Ishita Russell
Flipkart executives Ravi Krishnaswamy and Nitin Seth have taken up new roles in InMobi and Incedo respectively. Meanwhile Zomato Base head Samir Kuckreja and Hines India head Yash Gupta have resigned. Former Flipkart exec Krishnaswamy joins InMobi as CTO Former senior vice-president of engineering at Flipkart, Ravi Krishnaswamy, has joined InMobi as the… Read more »
Ambit Flowers is planning to raise up to $1 billion to invest in stressed assets in India, while steel majors ArcelorMittal, Nippon Steel, Tata Steel have expressed interest to acquire Essar Steel. Ambit Flowers ARC plans to raise $1b from global investors Keen on investing in distressed assets under insolvency proceedings in… Read more »
The idea behind the sale of its so-called non-core assets is to unlock the value of its strategic investments, according to a tender notice on the bank’s website.
The firm plans to use the funds to expand its manufacturing capacity and distribution reach for new product launches.
North Asia private equity firm MBK Partners was also preparing a bid to buy Wall Street English.
Last month, Westbridge invested in another consumer-focussed company Vini Cosmetics Pvt Ltd.
Chevon will use the proceeds to expand its senior management team and develop new products.
Vani Kola, co-founder of Kalaari Capital, said the exits were “not material”.
IEX shares opened 9.09% lower on the BSE at Rs1,500 a piece, compared to the issue price of Rs1,650, which was the upper end of the price band of Rs1,645-1,650 per share.
In April, CASHe raised Rs 25 crore in its Series A round.