Creador, a private equity firm focussed on long-term investments in South and South-East Asia, has fully sold its stake in Somany Ceramics, at a 5.3 times return and an IRR of 77 per cent in rupee terms. With this second exit, Creador II has realised 28 per cent of committed funds. Creador II had partly sold its stake in Somany Ceramics in October 2015 at 2.9 times return on investment. With the current tranche of 10.3 per cent stake sold to domestic institutional investors, Creador has exited Somany. The sale was completed in April for ₹326.3 crore. Creador II bought the stake in Somany in February 2014, investing ₹62.4 crore for a 13.6 per cent stake.

Sequoia invests ₹130 cr in Awfis

Leading VC firm Sequoia India has invested about ₹130 crore in co-working space provider Awfis Space Solutions. Awfis will use the money to scale up its network to over 100 centres with 35,000 seats, from the existing 21 centres and 7,500 seats.

Myntra acquires InLogg

Myntra has acquired Bengaluru-based technology platform InLogg, which provides end-to-end logistics solutions for the e-commerce sector. This is Myntra’s – now owned by Flipkart – fourth technology-led acquisition. The other three were Cubeit, a Bengaluru-based tech start-up, in 2016; Native5, a Bengaluru-based mobile app development company, in 2015; and, Fitiquette, a San Francisco-based virtual fitting room solution, in 2013.

Jain Irrigation buys two US firms

Jain Irrigation has bought two irrigation and distribution companies – Agri-Valley Irrigation Inc and Irrigation Design and Construction Inc – for about ₹315 crore ($48.5 million). With combined revenues of $113 million last year, the two companies will help Jain Irrigation distribute its agriculture technology portfolio.

Mech Mocha raises ₹32.5 crore

Mech Mocha, an India-focussed Bengaluru-based mobile gaming start-up, has raised about ₹32.5 crore ($5 million) in a Series A round from Accel Partners and Chinese venture capital firm Shunwei Capital, with participation from existing investor Blume Ventures. It will use the money to launch mobile gaming titles across the casual and mid-core gaming categories, targeted at the Indian audience. In December 2015, Mech Mocha had raised about ₹6.5 crore ($1 million) in seed funding from Flipkart and Blume Ventures.

₹70-crore funding for Flytxt

Flytxt, a customer data analytics software company, has raised ₹70 crore from DAH Beteiligungs GmbH, belonging to the Hopp family office in Germany. This is also the family office of the co-founder of SAP. The Thiruvananthapuram-based Flytxt plans to use the money for R&D and expand its other verticals.

Jaquar acquires ceramics company ₹100 cr

Jaquar, a leading player in bathroom fittings, has bought Kutch-based Euro Ceramics Ltd for ₹100 crore. This move by Jaquar is seen as a backward integration and will help increase the range of products it sells.

Kalyan Jewellers to buy Candere

Jewellery chain Kalyan Jewellers plans to buy online jewellery firm Candere. This will increase Kalyan Jewellers’s presence in the growing online jewellery segment in the country. It will acquire the shares held by Singularity Strategic, the family office of Brijesh Chandwani and Subram Kapoor. As part of the transaction, Kalyan Jewellers will buy out the shares held by Candere’s founder-promoter Rupesh Jain, in phases.

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