Surat based Ace Tour Worldwide Limited is planning to raise IPO through issue of 8.1Mn shares by diluting 52.88% stake in the company.
The funds raised will be used to set up service apartment facilty at Surat; to upgrade the ardware and software facilities for webportal; for brand building exercise and for working capital requirement.
Corporate Strategic Allianze is the book running lead manager to the issue.
Savaari Car Rentals has raised R5Cr Series A funding from Inventus Capital Partners. Samir Kumar and Parag Dhol from Inventus Advisory Services (India) will be joining the Board of Directors at Savaari.
Tech Mahindra is acquiring US based network engineering service provider, Lightbridge Communications Corporation for an EV of $240 Mn. The deal, expected to be closed by Q4 of FY15, is subject to regulatory approvals.