India Digest: Visa nears BillDesk deal; Emami picks Loli stake; Neev fund to wind up

Photo: Reuters

Digital payments network Visa is in the final stages of negotiations to invest over $250 million in BillDesk while bike rental platform Metrobikes has secured $8.98 million (Rs 60.9 crore) in a fresh funding round led by Sequoia Capital and Accel Partners. In a separate development, Emami Ltd’s Dubai-based subsidiary, Emami International FZE, and one of the Emami promoters have together picked up an 8.87 per cent stake in US-based personal care start-up Loli Beauty Inc. Real estate fund Neev Asset Advisors LLP, founded by former Infosys executive T V Mohandas Pai and Manipal Group scion Ranjan Pai, could reportedly wind up operations as second-rung real estate developers struggle.

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