India Dealbook: Adlabs sells minority stake, FinBucket raises funding

Photo: Reuters

Centrum Capital’s founders are buying a stake in Adlabs Entertainment Ltd even as FinBucket has raised $1.87 million from Impanix Capital.

Adlabs selling a minority stake to Centrum founders

Amusement park operator Adlabs Entertainment Ltd is selling a minority stake in the company to Centrum Capital Ltd‘s founders for Rs 50 crore ($7.8 million).

It will allot 6.9 million preferential shares at Rs 72.30 each to Shaan Agro and Realty Pvt. Ltd, owned by Businessmatch Services (India) Pvt. Ltd, a promoter group firm of Centrum Capital, according to a stock market disclosure.

Adlabs will use the money to pare its debt.

The company is looking to raise Rs 650 crore ($100 million) from financial investors including private equity funds like Blackstone Group, Warburg Pincus and TPG, according to a media report last week.

FinBucket raises $1.87m from Impanix Capital

New Delhi-based FinBucket, a platform which connects lenders and borrowers, has raised $1.87 million from Impanix Capital.

Founded by Heena Jain and Parit Garg in 2014, the startup currently offers personal loan, home loan, business loan, credit card and mutual funds.

“Our aim is to invest this money in building our technology and operational team. We will focus on the unserved segment of the market e.g. people who are not getting loans because of poor or no credit score. We will scale up the team to 200 people over the next 6 months,” said Heena Jain.

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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.