India: Bus aggregator Zipgo suspends Bengaluru ops after Karnataka transport dept raids office


ZipGo Technologies Pvt. Ltd has suspended operations in Bengaluru after the Karnataka state transport department raided its office on Wednesday, alleging that the bus and mini-van aggregator is violating rules by operating without necessary permits. The transport department has served a notice to ZipGo asking the firm to provide documents… Read more »

India: Hindustan Unilever to acquire Indulekha hair oil brand for $50m

Hindustan Unilever Ltd (HUL), India’s largest consumer goods company, has agreed to acquire hair oil brand Indulekha of Kerala-based Mosons Extractions Pvt. Ltd for Rs330 crore, HUL said on Thursday. In June, Mint had reported about the discussions between Mosons Extractions and HUL to sell the Indulekha brand. Anand Rathi… Read more »

India: For MoneyView, its all about auto-tracking users’ money

Bangalore-based MoneyView was founded by Puneet Agarwal and Sanjay Aggarwal last year, and raised $5 million in Series A funding in February. The app allows users to track their expenses made through credit and debit cards, and can also remind you to pay bills on time. Its unique tech is… Read more »

India People Dealbook: Jet Airways’s Cramer Ball and Tata Starbucks CEO Avani Davda, resign

In big people movements, Cramer Ball has resigned as chief executive officer of Jet Airways Ltd, the country’s second largest airline by passengers carried, while Avani Davda, chief executive officer of Tata Starbucks Pvt. Ltd has resigned to pursue opportunities outside the group. Jet Airways CEO Cramer Ball resigns Cramer… Read more »

India: Times Internet names Gulshan Verma as CRO

Times Internet, the digital venture of India’s leading media house Bennett, Coleman & Co Ltd, has appointed Gulshan Verma as its chief revenue officer (CRO). Prior to joining Times Internet, Verma was working with the online content discovery platform Outbrain, where he was primarily responsible for managing the operations of… Read more »

India: Logistics services provider Rivigo secures $30m from SAIF Partners, others

Gurgaon-based TrucksFirst Services Pvt. Ltd, which operates logistics services firm Rivigo, has raised $30 million in a Series B round from existing investor venture capital firm SAIF Partners with equity and debt financing, the company said in a statement on Thursday. The company did not share the names of other… Read more »

India’s IRCTC allows train passengers to order food using Paytm

Extending its engagement with Paytm, the Indian Railway Catering and Tourism Corp. (IRCTC) allowed passengers to order food on a train by using Paytm’s mobile wallet. Travelers can already make payments for e-tickets booked through the IRCTC website using Paytm’s service. “The discussion for the tie-up was on for a… Read more »

Indian e-commerce sales to hit $55b by 2018: Report

The rapid growth for retail sales around the world is in part driven by the rising middle classes in China, India and Indonesia, and the increasing popularity of mobile devices

India: PE firm Carlyle exits IIFL in Fairfax open offer

US private equity firm Carlyle Group has fully exited its four-year-old investment in Mumbai-based financial services firm IIFL Holdings Ltd, formerly known as India Infoline Ltd, at a profit, according to a disclosure on its website. The stake sale by Carlyle was a part of the recently concluded open offer… Read more »

Narayana Hrudayalaya raises $27m from Singapore’s GIC, other anchor investors ahead of IPO

Healthcare firm Narayana Hrudayalaya Ltd on Wednesday raised nearly $27 million (Rs.184 crore) through anchor investors ahead of its initial public offering (IPO) on Thursday. The anchor book is that portion of the IPO which bankers allot to institutional investors on a discretionary basis. Anchor book subscription opens one day… Read more »