India: Ola names Ben Legg as managing director of UK operations


Legg will build the senior leadership team and drive operations to establish overall presence in the UK by the end of 2018.

India Digest: Bugworks raises $9m; Sequoia eyes Wakefit; Sminq to raise $8-10m; Amazon to support MSMEs

Wakefit is in advanced talks with three venture capital funds including Sequoia Capital to raise about $6 million.

PVR acquires Chennai’s SPI Cinemas for $91m to widen reach

The acquisition of SPI, the largest cinema exhibitor in south India, will make PVR the seventh largest cinema exhibitor in the world.

Wipro, ITC, Cadila frontrunners to acquire Complan from Kraft Heinz

All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard.

Paytm, Alibaba’s AGTech invest $16m in mobile gaming JV Gamepind

While AGTech owns 45% of the gaming platform, One97 Communications holds a 55% stake.

KKR to acquire 60% stake in Ramky Enviro for $530m

This is the largest buyout by a private equity firm in India’s environmental services sector. The acquisition will be done through a combination of primary and secondary investments from KKR’s Asian Fund III.

India: Quadria-backed HealthQuad mulls raising $100m second fund in 2019

HealthQuad is also looking to close its final deal from the current fund by end of the month.

True North buys Glenmark’s ortho, pain management business in $92m deal

Glenmark’s orthopaedic and pain management business in India and Nepal will be transferred to a new entity to be incorporated by True North.

Redwood Investment sells $221.5m stake in AU Small Finance Bank

Redwood disposed of 2.40 crore shares, or an 8.27% stake in the bank, through open market transactions.

India Digest: Venture Catalysts backs Try & Buy; India Accelerator’s fundraise; Oyo buys Weddingz

Gurugram-based incubator India Accelerator has raised an undisclosed amount in angel funding from InvestMind Solutions and Singapore-based HotStart Ventures.