Senior Writer & Content Specialist, India
The investment vehicle will be funded through Flipkart’s balance sheet and cut cheques of around $2-3 million.
Xander had acquired a minority stake in PVR a decade ago at an average price of Rs 114 per share.
IFC ‘s proposed investment consists of an A-loan of $35 million by way of an external commercial borrowing (ECB).
Blackstone is likely to own around 80% of the SPV while the remaining 20 per cent will be owned by Salarpuria.
The VC had closed its second fund at $50 million in 2017.
Oikocredit and Omidyar Network India, HDFC Life Insurance, HDFC Holdings and Women’s World Banking invested in the round.
Recently, Airbnb acquired HotelTonight, an app for finding hotel rooms at a discount, for an estimated $400 million.
DSG is in the market to raise $50 million for its third venture capital fund.
Private equity firm Samara Capital is reportedly in talks to acquire IT services firm 3i Infotech at an enterprise value of $140-150 million.
Budget hotels firm OYO Hotels and Homes is said to have acquired co-working spaces provider Innov8 for around Rs 150-200 crore.