Yatra Online Pvt Ltd has raised Rs200 crore from Valiant Capital Management, Norwest Venture partners and Intel Capital for expansion purposes
Gurgaon-based travel services provider Yatra Online Pvt Ltd today said it has raised Rs200 crore from Valiant Capital Management, Norwest Venture partners and Intel Capital for expansion purposes.
"This round of funding will enable us to broaden our reach and brand awareness in tier two and tier three towns, which are experiencing tremendous growth in e-commerce," Yatra chief executive officer Dhruv Shringi said in a statement.
In addition, the funds will be used to accelerate expansion in the hotels and holidays segments, Shringi added.
Yatra currently provides reservation facility for more than 3,800 hotels across 336 cities in India and over 90,000 hotels around the world.
Last year, the company had picked up majority stake in Delhi-based ticketing services provider Travel Services International (TSI) for an undisclosed amount to strengthen its position in business to business (B2B) segment.
Yatra has in the past, received Rs150 crore funding from investors such as Reliance ADA Group company Reliance Venture Asset Management, TV18 Group, Norwest Venture Partners and Intel Capital.
Commenting on the latest round of funding, Intel Capital Asia Pacific Managing Director Sudheer Kuppam said, "This investment is aligned with Intel's strategic objective of increasing broadband penetration in India through fostering entrepreneurship in compelling content and e-commerce opportunities."
Yatra registered a turnover of $500 million in 2010-11, Shringi said.
Express Publication (Madurai) Ltd’s fixed deposits are accepted from public and its has revised new interest rates of the FDs
Express Publication (Madurai) Ltd which owns major newspapers like The New Indian Express, Dinamani, Sakhi, Cinema Express and Malayalam Vaarika has been coming up with regular FD schemes for public. Fixed deposits are accepted from public and it has revised new interest rates of its FDs.
There are two schemes available with the Indian Express FD namely Scheme A- which is a non-cumulative deposit schemed and Scheme B-which is a cumulative deposit scheme. The Scheme A fixed deposit interest rate will be paid out quarterly. The minimum duration or period of deposit for this scheme is two years and maximum three years. The minimum deposit amount is Rs21,000. The interest rate for the two years period is 9.75% and for three years period it is 10% p.a.
In the Scheme B, the interest rate will be calculated on quarterly rests basis and the interest along with the initial investment amount will be paid out at the end of the tenure. The period of investment is two years and three years. The minimum deposit is Rs21,000. While the rate of interest for this cumulative deposit is 10.25% p.a. and 10.50% p.a. for the two years and three years period. The Rs21,000 invested in these schemes will yield Rs25,711 and Rs28,658 respectively for the two years and three years deposits.
Birla Sun Life Mutual Fund new issue opens on 26th April
Birla Sun Life Mutual Fund has launched Birla Sun Life Fixed Term Plan-Series CY, a close ended income scheme. The tenor of the plan is 366 days. The new issue opens for subscription on 26th April and closes on 27th April.
The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The scheme will have only dividend and growth option. The scheme will allocate 100% of assets in debt securities and money market instruments with low to medium risk profile.
The minimum investment amount is Rs5,000. CRISIL Short Term Bond Fund Index is the benchmark index. Kaustubh Gupta would be the fund manager of the scheme.