Private Equity Funds Eye Pre-School Chains
Global private equity buyout funds General Atlantic and KKR & Co are in separate talks to acquire about 75% stake in pre-school chains EuroKids, Kangaroo Kids and Billabong High, according to sources, says a report.
The PE funds are in discussion to acquire stakes held by domestic private equity fund Gaja Capital and Swiss fund Partners Group, expected to be valued at $200 million.
EuroKids has a network of 1,000 schools. Avendus Capital is advising the investors on finding a potential buyer.
Xiaomi Plans Consumer Durables Expansion
Chinese smartphone maker Xiaomi is poised to expand its consumer durables line-up next year in the country, says a report.
This comes as the company is buoyed by the sale of its smartphones in India. which entered India in July 2014.
The Chinese tech major, which leads the country’s smartphone market, has identified items such as air conditioners, washing machines, refrigerators, laptops and small appliances like vacuum cleaners and water purifiers to enter into large categories in India, the report added.
Hyundai Raising Vehicle Prices
Hyundai Motor India said it will increase vehicle prices by up to 30,000 rupees from next month in order to partially offset the impact of rising input costs.
The new prices will be effective from January across all models, Hyundai Motor India said. Hyundai sells a range of models, from Santro hatchback to SUV Tuscon priced between 3.89 lakh and 26.84 lakh rupees (all prices ex-showroom Delhi).
Tata Motors, Ford India and Nissan India had earlier announced plans to hike prices of their passenger vehicles.
Airlines Will Need 2,300 Planes In Future
Indian airlines are projected to need 2,300 planes worth $320 billion in the next 20 years amid unprecedented domestic passenger growth, aircraft maker Boeing said, according to a report.
Raising the forecast for the country, Boeing said that as much as 85 per cent of the planes would be narrow-body and the rest would be wide-body.
The forecast is for the 2018-2037 period. According to Boeing, India will need 1,940 single-aisle planes worth $220 billion and 350 wide-body aircraft valued at $100 billion. At the current exchange rate, $320 billion is over 22 lakh crore rupees.
Investors Target Dockless Scooters
Venture investors are betting on the dockless scooter business over the past year as the next billion-dollar affordable transportation business, according to a report.
This comes after the first phase of capital rush to taxi-hailing apps.
Startups including Vogo and Bounce are creating a market of dockless scooters enabled by technology to cater to India — the world’s largest two-wheeler market, and investors are quick to back them up.
Milkbasket Raises Additional $7m
Grocery and milk delivery startup Milkbasket has raised an additional $7 million in a funding round, says a report.
The fund was raised, led by US-based venture fund Mayfield Fund, to help the startup expand into newer cities and double its headcount to 2,000 by early next year.
“The funds will also enable us in investing adequately in developing the technology and hiring for the next growth phase,” Anant Goel, chief executive officer at Milkbasket said.
Bajaj Auto Launches New Version Of Bike
Bajaj Auto said it has launched the updated version of Platina 110 bike, priced at Rs 49,197 (ex-showroom Delhi).
The new version comes with various features like anti-skid braking system and tubeless tyres as standard fitment.