Chinese smartphone manufacturer Xiaomi and its investment unit, Shunwei Capital, are close to buying around a 10% stake in chalo.com, a daily commute solutions startup, for about Rs 50 crore, two people with direct knowledge of the matter said. The deal, which is part of Xiaomi’s efforts to increase its presence in the Indian mobile application space, values chalo.com at around Rs 500 crore, they said. — The Economic Times

Jerome Merchant & Partners advised Venture Highway led by partner Sameer Sibal along with associate Rishabh Amber Gupta.

Nishith Desai Associates also advised on the transaction, led by partner Vaibhav Parikh and associate Saumya Ramakrishnan.

2019-04-04

Deal value: USD 14 Million

{incomplete}