The deal underlines the growing attractiveness of the B2B ecommerce segment, where other companies like India MART and Udaan have also raised capital this year.
Flipkart's Sachin Bansal, Ola's Bhavish Aggarwal seek government's help in battle against Amazon & Uber
They have now raised the banner of nationalism, urging the government to design policies which will favour desi cos against foreign rivals.
VCs aim to close multiple deals despite a lack of clarity on regulatory issues in the segment
Ibibo will also carve out its 14% stake in PayU and 52% in Tek Travels before the transaction closes, with MakeMyTrip entitled to a payout on these assets in five years.
Son is turning his attention to clean–technology and manufacturing, both of which are regarded as central to the development agenda of PM Narendra Modi.
The financial performance numbers are also reflective of the change of pace in investments by both the etailers.
If you look at the portfolio, there are real businesses. LPs understand that. And the question right now is if the IPO market here recognises that.
ET reported in August about Accel's plans to raise a new fund of $400-500 million by end of the year.
This markdown by Morgan Stanley comes even as the e-tailer braces for the impact of the crackdown on cash transactions.
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