Walmart has said it has not decided to sell and is continuing to develop the business.
The investment will enable Salim to access Youtap’s full suite of e-money platforms.
The venture will have Indosurya holding 65% while IFC and other investors will own 20 per cent and 15 per cent respectively.
The acquisition of SPI, the largest cinema exhibitor in south India, will make PVR the seventh largest cinema exhibitor in the world.
Last week, Wesfarmers agreed to sell 40% in the Bengalla Joint Venture to partner New Hope Corporation for $626 million.
All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard.
While AGTech owns 45% of the gaming platform, One97 Communications holds a 55% stake.
The financing comes just weeks after the Chinese unit of WeWork Cos. said it was raising $500 million to boost growth in the country.
The fundraising came more than eight years after the company secured $6 million in its Series A funding round led by private equity firm Chengwei Capital.
Redwood disposed of 2.40 crore shares, or an 8.27% stake in the bank, through open market transactions.