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CorporatEdge, which provides flexible workspaces to companies, has raised Rs 100 crore from private equity firm Carpediem Capital for expansion of its business. In a statement on Thursday, CorporatEdge said the company plans to deploy Rs 350 crore, which includes Rs 100 crore equity infusion. The company will use the funds along with internal accruals to drive expansion across the key markets in India and the Middle East. In India, the company plans to strengthen its presence in Delhi-NCR and Bengaluru while strategically expanding into new markets such as Mumbai, Pune, Hyderabad, Chennai, and Ahmedabad. During the second phase of growth, CorporatEdge will extend its presence into tier 2 cities such as Lucknow, Chandigarh, and Kolkata. "By FY30, the company targets operating 50 centres across 10 cities, with a total footprint of over 1.5 million sq ft," it said. In the immediate term, the company will soon start two centres, spanning 50,000 square feet each, in the next quarter a
Global investment banking major Goldman Sachs on Thursday exited ISGEC Heavy Engineering, by selling its 1.4 per cent stake in the company for Rs 96 crore through an open market transaction. US-based Goldman Sachs through its arm Goldman Sachs Funds -- Goldman Sachs India Equity Portfolio sold 10.43 lakh shares, or 1.42 per cent stake, in ISGEC Heavy Engineering, as per the bulk deal data available on the National Stock Exchange (NSE). The shares were offloaded at an average price of Rs 915.49 apiece, taking the transaction value to Rs 95.50 crore. Meanwhile, Nippon India Mutual Fund acquired 8.32 lakh shares, or 1.13 per cent stake, in Noida-based ISGEC Heavy Engineering. The shares were picked up at an average price of Rs 915 apiece, taking the transaction size to Rs 76.21 crore. Details of the other buyers of ISGEC Heavy Engineering's shares could not be ascertained. On Wednesday, shares of ISGEC Heavy Engineering slipped 1.37 per cent to close at Rs 938 per piece on the NSE.