<article>Real estate developer Brigade is hiving off its hotels business, online travel booking website Yatra buys mGaadi, and Flipkart might raise debt at high interest.</article>

Real estate developer Brigade is hiving off its hotels business, online travel booking website Yatra buys mGaadi, and Flipkart might raise debt at high interest.
<h3>Brigade Enterprises is making hotel business into full subsidiary</h3>
The board of directors of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Brigade+Enterprises" target="_blank">Brigade Enterprises</a> has approved hiving off the hospitality business into a wholly owned subsidiary, it said in a stock market filing.
Brigade has a hospitality management company which operates as a subsidiary, but the physical hotel assets are still part of the parent company.
The company plans to own about 2000 hotel rooms in three years, four times of its current asset size.
<h3>Yatra has acquired mGaadi</h3>
Gurgaon-based travel booking website <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=yatra" target="_blank">Yatra.com</a> has acquired auto rickshaw aggregator mGaadi according to a company statement.
mGaadi is a Bangalore-based commuting service founded in 2012. It is operated by Drivers Network, a social enterprise, and claims to have more than 13,000 drivers as part of its network.
Terms of the deal were not disclosed.
<h3>Flipkart might raise debt</h3>
<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Flipkart" target="_blank">Flipkart</a> is in talks with Indian banks to raise $300 million after efforts to raise venture funding at $15 billion valuation failed to materialize, <a style="color: #000080;" href="http://www.vccircle.com/news/retail/2016/06/17/crunched-cash-flipkart-likely-raise-debt" target="_blank">reported</a> VCCircle.
The Bangalore-based e-commerce player had pledged assets worth Rs 1,200 crore in December. The company might have to borrow at a high interest rate because it does not have enough assets against which the loan will be taken.
Flipkart&#8217;s valuation has been downgraded to $9.4 billion from $15 billion by various US-based financial institutions, the latest being Morgan Stanley in May.
Also read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=Flipkart" target="_blank">India: Flipkart revamps tech leadership team again</a> 
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=Brigade+Enterprises" target="_blank">GIC, Brigade Group acquire Kansai Nerolac’s Chennai property for $81m</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/?s=yatra" target="_blank">Online travel company Yatra ventures into cab booking space</a>
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Real estate developer Brigade is hiving off its hotels business, online travel booking website Yatra buys mGaadi.

India digest: Brigade divesting hotels, Yatra buys mGaadi, Flipkart might raise debt

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