Reliance acquires 51% in Lotus Chocolate🍫; ICICI Prudential Life’s AUM crosses Rs 2.5 Tn💸; Kunal Shah - Most active angel investors💰
Reliance acquires 51% in Lotus Chocolate🍫; ICICI Prudential Life’s AUM crosses Rs 2.5 Tn💸; Kunal Shah - Most active angel investors💰
Reliance Retail arm acquires 51% stake, ICICI Prudential Life’s AUM crosses Rs 2.5 Tn, Kunal Shah, Aman Gupta, Anupam Mittal among most active angel investors, and more.
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Reliance Retail arm acquires 51% stake in Lotus Chocolate for ₹74 Cr🍫
Reliance Retail Ventures Ltd's subsidiary has acquired a 51 percent controlling stake in Lotus Chocolate Company.
The FMCG arm, Reliance Consumer Products Limited, is the wholly owned subsidiary of Reliance Retail Ventures Limited and has acquired Lotus Chocolate company from Prakash P Pai, Ananth P Pai, and other members of the current promoter and promoter group of the company for ₹74 crores.
The capital infused will help drive the growth and expansion of LOTUS into a comprehensive confectionery, cocoa, chocolate derivatives, and related product manufacturer across industrial and consumer markets.
ICICI Prudential Life’s AUM crosses Rs 2.5-trillion mark💸
Private sector insurer ICICI Prudential Life Insurance on Thursday said its assets under management (AUM) have crossed the Rs 2.5-trillion mark.
The company commenced operations 22 years ago in December 2000 and had an AUM of approximately Rs 100 crore at the end of FY2001. It took the company nine years to garner an AUM of Rs 50,000 crore and 14 years to cross the Rs 1 trillion mark.
“Since then, it took the company only six years to double its AUM to Rs 2 trillion and a little less than two years to shore up the next Rs 50,000 crore, taking the total AUM to Rs 2.5 trillion,” the insurer said, adding its pace of growth has accelerated significantly since it crossed the Rs 1-trillion mark, registering a growth of 150% in its AUM.
Hot Shorts⚡
Data analytics company Tredence has raised $175 million in Series B funding from Boston-based private equity giant Advent International.
Education loan provider Eduvanz has raised Rs 104.5 crores or $12.6 million in its extended Series B round from new and existing backers. Rethink Education Ventures led the round while existing investors Sequoia Capital, Juvo Ventures, and Unitus Ventures also participated.
Agriculture-focused deep tech startup Ecozen has secured Rs 82.4 crore or $10 million from Nuveen Global Fund.
Kunal Shah, Aman Gupta, Anupam Mittal among most active angel investors💰
Kunal Shah, founder of fintech unicorn Cred was India’s most active angel investor with 54 bets in 2022, followed by wearables brand boAt’s co-founder Aman Gupta and Anupam Mittal, founder of Mumbai-based People Group, the parent of matrimony portal Shaadi.com, according to data.
Gupta and Mittal backed 34 and 32 startups during the year, respectively. Peyush Bansal, co-founder of Lenskart, was in the fourth spot with 26 deals.
Shah invested in Kredmint, Growth School, Allo Health, PickYourTrail and Gold Setu, among others, besides backing a few overseas startups, including Lista in the Philippines, and Jovian in the US.
Shah has been appearing on the list of top five angels (by volumes) for the last three years. In 2021, he topped with 108 deals, the data showed.
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