Tiger Global-backed Infra.Market said it has divested about 10% of its stake in RDC Concrete, while Fireside Ventures is reportedly planning to sell its partial stake in Mamaearth parent Honasa Consumer through block deals. Separately, cloud kitchen company Biryani By Kilo has raised $9 million in its Series C round.
Infra.market sells 10% stake in RDC Concrete
Infra.Market said it has divested about 10% of its stake in RDC Concrete to investors led by Ashish Kacholia, valuing the ready-mix concrete firm at about $225 million.
Infra.Market had acquired RDC Concrete for $90 million in mid-2021 when it had 49 RMC plants, which has currently grown to 100 plants across 48 cities. RDC Concrete expects to have around 180 RMC plants by the end of FY25.
The company has raised about $20 million from public market investors led by Kacholia.
This divestment in RDC Concrete further paves the way for RDC’s IPO plans soon, the firm said.
Biryani By Kilo raises $9m in Series C funding
Cloud kitchen company Biryani By Kilo (BBK) has raised $9 million in its Series C round led by Alpha Wave Ventures, Entrackr reported.
Alpha Wave Ventures led the round with Rs 28 crore, while Ivycap Ventures, Incred Weath, and Clear Bridge Ventures pumped in Rs 16.5 crore, Rs 8.2 crore, and Rs 8.3 crore, respectively. The round also saw the participation of Vevek Ventures, DSP HMK Holdings, and other individuals which collectively poured Rs 11 crore during the round.
Following the fresh proceeds, Alpha Wave will hold 33.5%, while Ivycap Ventures, Incred, and Clear Bridge will own 19.42%, 1.04%, and 1.05% respectively.
The tranche appears to be a part of a larger round, and the shareholding pattern may vary after the completion of Series C, the report said.
The company has raised around $55 million to date, including a $35-million Series B round led by Falcon Edge in November 2021
Fireside Ventures to divest 1.9% stake in Mamaearth
Venture capital fund Fireside Ventures Investment Fund plans to sell its partial stake in Mamaearth parent Honasa Consumer through block deals, according to a report by CNBC Awaaz.
Fireside Ventures is offering 61 lakh shares, or a 1.9% stake, in the firm. The deal is expected to be worth Rs 230 crore.
The floor price for the sale is set at Rs 368.7-384.1 a share, representing up to a 4% discount from the current market price.
The share price of Honasa Consumer was down 3.85% to Rs 384.80 per piece on Monday, against its previous close at Rs 400 on Friday.
