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The decrease in value of the US fund's stake in the edtech company has resulted in Eruditus being valued at $2.9 billion, which is a decline from the $3.2 billion valuation when it raised $650 million in August 2021.
The company will use the funds to boost manufacturing capabilities, support new product launches, deepen offline presence across key regions, and consolidate the company's position in India’s consumer appliance market.
Warburg Pincus aims to strengthen its foothold in India's financial services sector with the acquisition of Vistaar Finance, bringing on board industry veteran Avijit Saha as CEO.
Zypp Electric, which currently operates in Delhi-NCR and Bengaluru, also plans to expand its services to cities including Mumbai, Pune, and Hyderabad.
The Delhi HC while hearing a plea against draft e-pharmacy rules said that the Centre had six weeks to inform of the outcome of stakeholder consultations.