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Bengaluru-headquartered Difacto will use the funds to expand across sectors such as cars, home appliances and electronics, as investment and volume in manufacturing go up.
The government is leaning towards imposing time limits as opposed to certifying games as permissible or non-permissible through self-regulatory organisations (SRO), an official at the IT ministry said.
This funding round will more than double ominchannel jewellery retailer Bluestone's valuation from around $450 million in September 2023. Bengaluru-based Bluestones pre-IPO round is seeing interest from new and existing investors, encouraged by the Tata Groups CaratLane deal where Titan bought out the founders (Mithun Sacheti) stake last year.
At least two companies – HCLTech and Birlasoft – have gone on record to say that from the usual 10-12 year deals earlier, long-term arrangements are now ending in four years. Earlier, the tenures ranged between 10-12 years.
Early-stage venture firm Sorin Investments, founded by veteran dealmaker and former KKR India CEO Sanjay Nayar, made the final close of its maiden fund at Rs 1,350 crore, sources told ET. Through this fund, Sorin will back startups looking to raise Series A funding.