The final size of the round is yet to be determined. Ola is looking to raise about $500 million in the financing round, which could go up to $700 million if it is able to get new investors to write large cheques, said sources.
Bhinde has advised 60 transactions worth over $3.5 billion during his career as head of the digital practice at Avendus.
"In terms of plans, our priority is to nurture our portfolio companies," said Alok Sama, president of SoftBank, in an exclusive interview with ET.
Nurturing portfolio companies is SoftBank's top priority: Alok Sama, President of SoftBank Group International
"We have over the last two years invested $2 billion in India and as I scan our growth stage investment portfolio globally, that makes India our No. 1 destination."
Bhinde has advised 60 transactions worth over $3.5 billion during his career as head of the digital practice at Avendus, working with Quikr and Freecharge.
"Subsidies won't last forever, and customers need to slowly get used to it. This is a step in that direction," said a person briefed on Uber India's plans.
By consolidating its largest competitor, the 42-year-old Maheshwari will now be the CEO of by far the largest baby and mothercare retailer in India, both online and offline.
First-Cry will acquire the unit of $18 billion software-to-automobiles congolmerate Mahindra & Mahindra, which in turn will invest in the Pune-based startup.
The deal is a stock transaction, under which Firstcry owner Brainbees Solutions will issue shares worth Rs 355 crore to Mahindra Group and pay Rs 7.5 crore in cash.
While valuation for the new round could not be ascertained, the deal has been done "at a premium" to its previous round valuation of Rs 1,700-1,800 crore.
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