Foxconn-backed MoMagic has invested Rs 5 crore ($741.5k) in Delhi-based celebrity and entertainment driven contest app mChamp Entertainments. PE firm Samara Capital has exited its investment in Asian Oilfield Services by selling its entire stake to Oilmax Energy.
MoMagic invests $742k in mChamp
Noida-based MoMagic, a mobile internet market and app ecosystem player, has invested Rs 5 crore ($741.5k) in mChamp Entertainments, the company said in a press note.
mChamp, a celebrity and entertainment driven contest app, was launched in 2015. The app offers various contests on music, sports and entertainment. Started in 2011, MoMagic works across widely used mobile platforms offering technology-backed innovative marketing solutions to enterprises, startups and e-commerce players. The company operates across five major markets in South East Asia.
Samara Capital sells entire stake in Asian Oilfield Services for $4.5m
PE firm Samara Capital has, through its fund Samara Capital Partners Fund I Ltd, sold its entire 56.32 per cent stake in oil & gas firm Asian Oilfield Services to Oilmax Energy for almost Rs 30 crore ($4.5 million).
The PE fund has agreed to transfer equity shares held by it in Asian Oilfield in two tranches, it said in a filing. It booked a huge loss on the exit.
Samara Capital had originally invested in the oil & gas company back in 2007. It had picked up 13.3 per cent stake for Rs 28 crore ($4.2 million). Later the PE fund had hiked its holding in 2010 for Rs 25 crore ($3.7 million) and again in 2013, it bought more shares for Rs 15 crore ($2.2 million) and owned a total of 56.32 per cent stake.
ELP advised Samara Capital Partners Fund I on this transaction.