Anil Ambani is waging a war on debt. Reliance Group repaid Rs 350 billion in the past 14 months through asset disposals. But a large pile remains.
Ascendas India Trust had in November 2017 acquired six operating warehouses for $83 million.
The company plans to utilize the funding to further strengthen its technology and network coverage.
The billionaire’s hope is to capitalize on demand from foreign technology companies, who are expanding in India as the use of smartphones and Intern
Nag, who has been with PayU since 2011, joins others who have recently quit the company.
Hong Kong-based Composite Capital has also come on board as a new investor.
The rising interest in India occurs as investment in China’s recently booming startup sector faces a steep drop-off.
IPOs & Markets
Its board will meet on 20 July to explore fundraising options.
The company is in advanced talks to raise $15 million in a Series A round.
The investment firm is said to be working with a financial adviser for due diligence on Suzlon.
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