India Dealbook: Corporation bank picks stake in RuPay parent NPCI; SV Agri and Rentomo fund raise

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.

SV Agri last raised funds in 2011 as part of Series A investment from SONG, a fund backed by Soros Economic Devlopment Fund, Omidyar Network and Google, which is also managed by Aspada.

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.

 

 

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.