Amsterdam-listed Prosus NV, the investment arm of South Africa's multinational Naspers, terminated the $4.7 billion acquisition of online payments gateway company BillDesk, based in Mumbai, India. In a note published on Prosus’ website, Eoin Ryan, head of investor relations, said, "Certain conditions precedent were not fulfilled by the September 30,...
Amazon to Enter Online Food Delivery Business in India
Seattle, Washington-based Amazon Inc., will launch a new service delivering from restaurants ahead of India’s month-long festive season, which starts in September. The company has teamed up with Bangalore-based Catamaran Ventures, founded by IT billionaire Narayana Murthy. Research firm RedSeer Consulting says that India's rising middle class has driven the growth...
Investors Aggregate $40 Billion in Capital Reserves for India
At $40 billion, the total amount of highly liquid securities available with private investors targeting India is at a historical high. The estimate considers capital available with India-based private equity and venture capital funds, global and Asia-focused funds with an India allocation, sovereign and pension funds, as well as large...
FlipKart raises $200 million from current investors
India's ecommerce leader, Flipkart has just raised $200 million from a clutch of private equity funds, the company said on Wednesday, in what could be the single largest investment in an e-commerce company in the country. The money was raised from South African technology group Naspers Ltd and private equity...