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Pai, who recently sold a controlling stake in Manipal Hospitals to Singapore’s Temasek, is paying Rs 60-70 crore to JSW Ventures to become a shareholder in Purplle through a secondary market transaction
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The company will use this capital to expand its offline footprint by opening more stores and also strengthen its online presence, as an increasing number of direct-to-consumer (D2C) companies look at an omnichannel strategy to drive growth.
The partial exit by JSW Ventures in Purplle has generated 18x return on the capital invested, according to a statement.
Audio content platform Kuku FM, operated by Mebigo Labs Pvt Ltd, is in discussions with an overseas investor to raise fresh equity investment. The Mumbai-based company, ......