Investments flow into India tech, auto

Investments flow into India tech, auto
Investments flow into India tech, auto

From Japanese to American companies, the Indian technology and automotive sectors attracted FDI in recent weeks.

SoftBank, Alibaba to invest in Paytm

Tokto-headquartered SoftBank Group is investing $400 million in India's Paytm E-Commerce Pvt Ltd in a funding round that will value the online retailer at roughly $1.9 billion, a regulatory filing showed this week. Chinese conglomerate Alibaba, an existing investor in Paytm E-Commerce, is also putting in $45 million in the round. SoftBank, which is among major investors in India's fast-growing e-commerce sector and already owns a stake in Paytm's parent, confirmed investing in Paytm Mall, the brand name under which Paytm E-Commerce operates an online market place. Amit Sinha, Chief Operating Officer of Paytm Mall, said the company would deploy the latest investment from SoftBank and Alibaba to beef up its technology and build superior logistics among other things. A filing with India's Registrar of Companies showed SoftBank units will get a 21.1 per cent stake in Paytm E-Commerce after the investment which would come in four tranches. Alibaba.Com Singapore E-Commerce Pvt Ltd, which currently owns 36.3 per cent of the Indian e-retailer, will remain the single-largest shareholder of Paytm E-Commerce but with a relatively smaller stake of just over 30 per cent after its latest investment is completed in four tranches.

Blackstone buys auto parts maker Comstar

Tokto-headquartered SoftBank Group is investing $400 million in India's Paytm E-Commerce Pvt Ltd in a funding round that will value the online retailer at roughly $1.9 billion, a regulatory filing showed this week. Chinese conglomerate Alibaba, an existing investor in Paytm E-Commerce, is also putting in $45 million in the round. SoftBank, which is among major investors in India's fast-growing e-commerce sector and already owns a stake in Paytm's parent, confirmed investing in Paytm Mall, the brand name under which Paytm E-Commerce operates an online market place. Amit Sinha, Chief Operating Officer of Paytm Mall, said the company would deploy the latest investment from SoftBank and Alibaba to beef up its technology and build superior logistics among other things. A filing with India's Registrar of Companies showed SoftBank units will get a 21.1 per cent stake in Paytm E-Commerce after the investment which would come in four tranches. Alibaba.Com Singapore E-Commerce Pvt Ltd, which currently owns 36.3 per cent of the Indian e-retailer, will remain the single-largest shareholder of Paytm E-Commerce but with a relatively smaller stake of just over 30 per cent after its latest investment is completed in four tranches.

Handset brand Tambo to invest in India

Tambo, a handset brand by Agaston Mobile in a joint venture with a Chinese ODM, is planning an investment of Rs 600 crore ($92 million) in India, out of which the company would be spending Rs 300 crore ($46 million) for setting up its own factory in Greater Noida in the third quarter. Tambo will be launching 4 models of smartphones and 6 models of feature phones in April 2018 across India. Sudhir Kumar, Founder & CEO, Tambo Mobile, said: “We aim to be the most efficient brand out of all the brands that are operating in the market right now. In the initial three months we will have assembly then we will have PCBs manufactured in India.” The company is targeting to be among the top 3 players in India in the entry-level segment by 2018-end. Besides handsets, Tambo will also manufacture accessories including battery, charger and earphones. On distribution front, the company has adopted a direct distribution model and is aiming for direct distributors above 100,000 in every town. Tambo will be selling its products offline and will not be present online. The company is also looking to foray into air conditioners after establishing the Tambo brand in India.
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