Startups and funding- Whats happening!

Startups and funding- Whats happening!

Baring Asia and IVFA alliance is in process to acquire ICICI Home Finance, while Canada’s CDPQ is planning to pick up 35% stake in Azure Power. Also, Fintech startup, Trupay, plans to raise $10 million.

Baring Asia-IVFA alliance is in process to acquire ICICI Home Finance

The association between domestic fund India Value Fund Advisors (IVFA) and Baring Asia is set to acquire an important subsidiary of ICICI bank – ICICI Home Finance. This deal involves around Rs 2,300 crore or $343 million as per the report in The Economic Times.
Fintech startup Trupay is planning to raise $10 million

According to a report published in The Economic Times, Trupay, a digital payments company, is in talks to raise $10 million. This funding will be targeted at strengthening the technology owned by company so that it should be able to handle Unified Payments Interface or UPI based transactions. The company recently collaborated with the Yes Bank to enable UPI transactions via its platform.

 

Canada’s CDPQ is in talks to pick up 35% stake in Azure Power

Caisse de depot et placement du Quebec (CDPQ), a Canadian pension fund, is in talks to acquire around 35% stake in Azure Power, a solar energy firm, for around $180 million as cited by The Economic Times report. If the deal gets finalized then most of the current Azure’s investors, including International Finance Corporation, German development bank DEG and Helion Ventures, are likely to face partial exit.

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