Nexus Venture Partners has invested Rs 7 Cr in MagicRooms Solutions Private Limited. www.MagicRooms.in - the online platform of the company offers online hotel bookings.
MagicRooms was founded by Niranjan Gupta in 2009. He is also the founder of www.flightraja.com, B2B airline booking website.
The company is launching a web based Global Distribution System of hotel rooms. Through the web-based hotel GDS, the company will offer inventory of hotels and service apartments across the country to travel agents on pan-India basis. The hotel will need to pay a service charge to Magicrooms.
Bennett, Coleman & Co, the parent company of the Times Group, is investing R32.5 Cr in Delhi based retail chain, V2 Retail Limited (formerly Vishal Retail) by subscribing to convertible warrants. The preferential allotment received the board’s approval in the EGM.