Bodhi Tree invests in Allen🎓, Adani's $4 Bn healthcare plan🏥, Govt collects ₹1.68 Tn in GST💰
Bodhi Tree Systems invests $600 mn, Adani plans a foray into healthcare, Centre collect a record ₹1.68 trillion in GST, Funding Deals & more.
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Bodhi Tree Systems invests $600 mn in Allen Career🎓
Bodhi Tree Systems, the newly formed platform backed by James Murdoch and former broadcast executive Uday Shankar, has agreed to invest $600 million in test prep business Allen Career Institute, in the platform’s second major investment in a week.
Bodhi Tree has acquired a minority stake in Allen, valuing the test prep business at well above $1 billion, according to a person with knowledge of the deal. Allen’s founding Maheshwari family will retain control and run the business.
“Education is a critical consumer need, driven by its deeply transformative impact on lives and livelihoods of consumers", Murdoch and Shankar said in a joint statement.
On 27 January, Bodhi Trees led a ₹13,500 crore ($1.76 billion) investment for a 40% stake in Reliance-backed Viacom18.
Gautam Adani plans a $4 billion foray into healthcare🏥
Gautam Adani, the world’s fifth-richest person, is lining up massive investments in the healthcare sector and may acquire large hospitals, diagnostic chains, and offline and digital pharmacies, among other assets, to establish a foothold in the sector.
Top executives of the group, which runs businesses ranging from airports to seaports, recently met several foreign banks and global private equity investors to outline the group’s plans.
Adani has identified healthcare as a huge opportunity and is keen to consolidate the space, which remains fragmented with the market dominated by local and regional players, a large number of which are struggling for various reasons.
Insurtech startup Turtlemint has raised $120 million led by Amansa Capital, Jungle Ventures and Nexus Venture Partners.
Nonfungible token (NFT) programming layer Revise has raised $3.5 million in a funding round led by AlphaWave Global and 8i Ventures.
Speciality south Indian food startup VS Mani & Co has raised $370,000 (over ₹2.5 crore) in an angel funding round.
Centre, states collect a record ₹1.68 trillion in GST in April🚀
Central and state governments collected a record ₹1.68 trillion in goods and services tax in April, aided by a spurt in economic activity in March and steps taken to improve tax compliance.
The improvement in GST revenue collection is good news for policymakers as it eases the pressure on revenue mobilization through non-tax measures such as divestment and proves to be a relief to state governments, which are likely to lose GST compensation from July.
The gross goods and services tax collection in April at ₹1.68 trillion is about ₹26,000 crores more than the previous best of ₹1.42 trillion reported in March, the finance ministry said. It is also 20% more than the GST collected a year ago.
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