India Digest: InCred, Classplus, Shilpa Medicare in M&A news

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In the latest M&A news from India, InCred has acquired Bengaluru-based unsecured loan provider Qbera while Classplus, a startup that helps coaching centres go online, has acqui-hired Merak.ai.

In another development, Shilpa Medicare has announced that it is fully acquiring FTF Pharma Pvt. Ltd.

InCred acquires Qbera

Mumbai-based non-banking finance (NBFC) company InCred has acquired Bengaluru-based unsecured loan provider Qbera for an undisclosed amount.

The acquisition will help InCred augment its digital distribution strength, according to a statement.

As part of the transaction, Qbera founder and CEO Aditya Kumar has joined InCred to head its platform business as well as its personal loan business. Meanwhile, Qbera co-founder and product VP Anuj Sachdev has taken an advisory role.

Classplus acqui-hires Merak.ai

Noida-based Classplus, a startup that helps coaching centres go online, has acqui-hired Merak.ai, a data entry automation company.

As part of the deal, Merak.ai co-founder Vibhor Kalra will join Classplus as its AVP for product.

Merak.ai manages data-entry processes as well as digitises template-based documents. Meanwhile, Classplus is currently being used by more than 3,500 coaching centres across over 70 cities and towns in India.

Shilpa Medicare buys FTF Pharma

Shilpa Medicare Ltd, a Hyderabad-based active pharmaceutical ingredients (APIs) and formulations developer, is fully acquiring FTF Pharma Pvt. Ltd for Rs 75 crore. Besides, it will also pick up a 40 per cent stake in Auxilla Pharmaceuticals and Research LLP for about Rs 6 crore.

The acquisition will help Shilpa Medicare enhance its R&D facilities and also aid product extension, it said in a stock exchange filing.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.