Corporation Bank is acquiring a 1.06 per cent stake in National Payments Corporation of India (NPCI), parent company of RuPay, for a consideration of nearly Rs 5 crore. Pune-based SV Agri, an end-to-end potato supply chain management company, has raised funds from Lok Capital, while rental listings platform Rentomo has raised $100,000 in a seed funding round from Shiva Ashok, and an unnamed UAE-based investor.
Corporation bank picks stake in RuPay parent NPCI
Public sector lender Corporation Bank is acquiring a 1.06 per cent stake in National Payments Corporation of India (NPCI), parent company of RuPay, for a consideration of nearly Rs 5 crore, as per a stock market disclosure.
“The bank is making an investment of 1,42,000 equity shares at Rs 352 per equity share, having face value of Rs 100 each amounting to Rs 4.99 crore, in percentage term 1.06 per cent, in the private placement of equity shares of NPCI,” Corporation Bank said in a BSE filing.
Incorporated in 2008, NPCI is mainly promoted by banks and offers services towards electronic payments for the banks. NPCI has ten promoter banks namely, State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC.
Lok Capital invests in SV Agri
Pune-based Siddhivinayak (SV) Agri Processing, an end-to-end potato supply chain management company, has raised an undisclosed amount in funding from impact investor Lok Capital, as per a report in The Economic Times.
Aspada Investments, an early stage venture fund, also participated in the round. The funds will be used by SV Agri to ramp up existing operations, expand team and enhance production of its own brand of potato seeds.
Rentomo gets $100k in seed funding
Bangalore-based rental listings platform Rentomo has raised $100,000 in a seed round of funding from Shiva Ashok, an executive with UK-based project engineering consultancy Amec Foster, and an unnamed UAE-based investor, according to a report in INC42 Magazine.
The startup will use the funds to expand its existing operations in Bangalore before spreading out to other cities.
Founded in 2015 by Anshul Johri, a former Amazon engineer, Rentomo allows users to borrow/rent everyday items that they may need occasionally and that too to someone in their trusted network.
Rentomo currently claims to have over 4000 registered users and over 300 listings on its platform.