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The AJVC investment is part of Novastar's broader private-markets strategy that combines fund investments with selective direct bets on private companies.
The funding round also saw participation from Claypond Capital, Martin Chavez, Olivier Pomel, Venky Harinarayan and Shah Rukh Khan.
Earlier this year, other lending companies such as Kissht and Aye Finance also cut their IPO size, as valuation concerns grew.
NPCI’s surplus (profit) declined 32% to Rs 991 crore in FY26 from Rs 1,461 crore in the previous fiscal.
The board is scheduled to meet on September 17 to evaluate various fundraising options, including the issuance of equity shares, warrants, convertible securities, or other approved instruments.
August was defined by Trump’s crypto push, US regulatory moves, stablecoins and India’s tokenisation ambitions.
The overall value of merchant category-wise purchases via UPI fell to Rs 8.95 lakh crore in August from Rs 9.07 lakh crore in July, even as transaction volumes rose.
The funding round also saw participation from existing investors Spark Capital and Pear VC.
The funding round also saw participation from existing investor Bessemer Venture Partners.
The funding round also saw participation from angel investors Afsar Ahmad, Jani Pasha, and Arpit Dave.
The round also saw participation from Sony Innovation Fund, Gaja Capital, Artha Ventures and other investors.
The latest transaction comes weeks after NewQuest sold 1.25 crore Shadowfax shares for around Rs 300.6 crore in August at Rs 240.46 per share.
Circle will also grant Tazapay employees restricted stock units worth an aggregate $25 million after the acquisition closes.
Innoviti's net loss narrowed by 57% to Rs 26.7 crore in FY26 from Rs 62.1 crore in the previous fiscal.
The funding round also saw participation from 360 ONE Asset, IMM Investment, as well as existing investors Radical Ventures, growX Ventures, and others.
Enrission India head Harsh Deodhar says that its association with Indian IITs is a "good selling point" to the Japanese LPs.
The shares were acquired by a range of institutional investors, including Societe Generale - ODI and Motilal Oswal Large and Midcap Fund.
The round also saw participation from Baring Private Equity India, Saison Capital Pte. Ltd. and UNLEASH, along with other investors.
The round values the digital banking startup at $450 million, marking a steep decline from the $1.5 billion it commanded in 2022.
ICICI Prudential Life Insurance Company was the largest buyer in the transaction, acquiring 1.03 crore shares worth nearly Rs 160 crore.
