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Tag: Brookfield

  • Pitch perfect! NIIF clinches Alea Cup in a thrilling corporate showdown

    Pitch perfect! NIIF clinches Alea Cup in a thrilling corporate showdown

    MUMBAI: It was wickets over wallets and boundaries over balance sheets as Mumbai’s financial elite swapped suits for cricket whites at the third edition of the Alea Cup, hosted at the Western Railway Sports Ground. Sponsored by Alea Consulting and held under the umbrella of Saran Sports’ iconic CC7 tournament, the clash brought together six powerhouse teams from the financial world including heavyweights like NIIF, Kotak Investment, CPP Investments, and Apollo Asset Management.

    And what a finish it was. National Investment and Infrastructure Fund (NIIF) snatched victory from the jaws of defeat in a nail-biting final against Investec Capital, adding another feather to its sporting cap after past glory in previous editions. The Alea Cup, which has seen participation from the likes of KKR, Brookfield, JM Financial Private Equity, and Xponentia Capital, has fast become a marquee event for those who crunch numbers by day and smash sixes by dusk.

    The tournament is part of the Saran Sports CC7 series, recognised by the Limca Book of Records as the world’s longest-running corporate cricket event. Since 1997, over 1,500 corporate teams have padded up for what is arguably India’s most spirited fusion of boardroom ambition and backyard banter.

    Alea Consulting founder Deepak Bhawnani said, “Alea Cup offers working professionals a chance to engage in a sport they enjoy, providing personal satisfaction and a sense of achievement while promoting physical fitness and mental well-being. Our objective is to instil values such as teamwork and sportsmanship in the players. It also provides opportunities to connect with colleagues and professionals from other companies, which can be beneficial for career growth and business opportunities.”

    Far from a mere weekend escape, the Alea Cup has come to symbolise the camaraderie, competitiveness, and community that cricket inspires across all walks of life. It honours not only the nation’s love for the sport but also the human side of the finance industry where handshakes can be as important as half-centuries, and shared memories outlast match scores.

    With each edition, the tournament continues to hit it out of the park proving once again that whether on the field or in finance, strategy, stamina, and synergy remain a winning combo.

  • GenY Labs Closes Seed Round Funding

    GenY Labs Closes Seed Round Funding

    Mumbai: GenY Labs has announced today that it has raised seed round funding totaling approximately $700k. The round was led by Mr.  BVR Mohan Reddy, Executive Chairman of Cyient and other Indian and Canadian investors. This funding will be used for further development of their unique IP and business expansion in North America.

    The company was co-founded by the trio of IIT alumni Ravi Jain, Giridhar Rao Apparusu and Yashwant Kumar. The founders have been entrepreneurs previously and bring together domain expertise in consumer research as well as AI and deep learning. GenY Labs, based in Hyderabad (India) and Toronto (Canada), provides license to Auris, it's AI platform which curates consumer insights in real time.

    GenY Labs operates in the B2B SaaS space with its platform Auris, which empowers CMOs with curated industry specific customer insights to improve their customers' experience and customer engagement. These insights are generated with Auris’ unique artificial intelligence engine and analytics which acts on unstructured consumer data. Auris is transforming the way consumer research is conducted and is already being used by industry-leading brands across financial services, healthcare, e-commerce, education and consumer goods and services domains among others, globally.

    The seed round was led by Mr. BVR Mohan Reddy and was supported by other investors and entrepreneurs. Mr. Devdatt Shah, former Managing Partner of Brookfield Asset Management and former CEO of ICICI Securities, and Mr. Vikram Khurana, a serial entrepreneur, participated from Canada.

    Commenting on the development, Ravi Jain, CEO at GenY Labs said, “It’s fantastic to have the support of such accomplished investors as we look to grow the company. Our aspiration is to build a global product company driven by innovation and IP.”

    Mr. BVR Mohan Reddy, Founder & Executive Chairman of Cyient Ltd. said, “We’re excited to participate in the seed round of GenY Labs. We are impressed by what the team accomplished in a short time and look forward to supporting their vision”

    GenY Labs joins several India-based B2B SaaS players who have hit their fundraising milestones this year.

  • RCom reduces debt burden with 51% towers biz sale to Brookfield

    RCom reduces debt burden with 51% towers biz sale to Brookfield

    MUMBAI: Reliance Communications, an integrated telecommunications service provider, announced that it has signed term sheet with Brookfield Infrastructure Group for part-sale of its telecom tower business. RCom is selling 51% stake in tower unit for Rs 11,000 crore. The deal involving 45,000 mobile towers will facilitate RCom to lessen debt burden.

    Reliance Communications has a net debt of Rs. 42,000 crores as of end-June, which it expects to cut by Rs. 20,000 crore. Reliance had been looking to sell its mobile towers business, and had expected to seal a deal by October, CEO Gurdeep Singh had said earlier.

    Under the existing conditions, the specified assets are intended to be transferred from Reliance Infratel Ltd. (RITL) on a going concern basis into a separate SPV, to be owned by Brookfield. RCom will own 49% in the SPV.

    RCom will receive an upfront cash payment of Rs 11000 crore, and will also enjoy 49% future economic upside from the towers business, based on certain conditions.

    RCom said that, under the term sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business.

    RCom and Brookfield expect considerable growth in tenancies based on increasing 4G offerings by all telecom operators, and the fast accelerating trends in data consumption, which are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

    RCom and Brookfield also see several opportunities for consolidation in the towers industry in India that will further enhance growth and value creation in the future. The proposed transaction is subject to definitive documentation, customary approvals and certain other terms and conditions.

    RCom will continue as an anchor tenant on the tower assets, under a long-term pact, for its integrated telecom business.

    Both companies expect considerable growth in tenancies on the back of increasing 4G offerings by all telecom service providers, and data consumption growth, as they are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

  • RCom reduces debt burden with 51% towers biz sale to Brookfield

    RCom reduces debt burden with 51% towers biz sale to Brookfield

    MUMBAI: Reliance Communications, an integrated telecommunications service provider, announced that it has signed term sheet with Brookfield Infrastructure Group for part-sale of its telecom tower business. RCom is selling 51% stake in tower unit for Rs 11,000 crore. The deal involving 45,000 mobile towers will facilitate RCom to lessen debt burden.

    Reliance Communications has a net debt of Rs. 42,000 crores as of end-June, which it expects to cut by Rs. 20,000 crore. Reliance had been looking to sell its mobile towers business, and had expected to seal a deal by October, CEO Gurdeep Singh had said earlier.

    Under the existing conditions, the specified assets are intended to be transferred from Reliance Infratel Ltd. (RITL) on a going concern basis into a separate SPV, to be owned by Brookfield. RCom will own 49% in the SPV.

    RCom will receive an upfront cash payment of Rs 11000 crore, and will also enjoy 49% future economic upside from the towers business, based on certain conditions.

    RCom said that, under the term sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business.

    RCom and Brookfield expect considerable growth in tenancies based on increasing 4G offerings by all telecom operators, and the fast accelerating trends in data consumption, which are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

    RCom and Brookfield also see several opportunities for consolidation in the towers industry in India that will further enhance growth and value creation in the future. The proposed transaction is subject to definitive documentation, customary approvals and certain other terms and conditions.

    RCom will continue as an anchor tenant on the tower assets, under a long-term pact, for its integrated telecom business.

    Both companies expect considerable growth in tenancies on the back of increasing 4G offerings by all telecom service providers, and data consumption growth, as they are expected to contribute to significant growth in revenues and profitability for the towers business in the future.