New Delhi, Aug. 20 -- US-based Ares Management is talking with the owners of cricket team Kolkata Knight Riders (KKR) for a minority stake, Upstox has started talking to investment banks for a potential public issue, and electric vehicle maker BGauss has secured funding, according to various media reports.

Ares Management-Kolkata Knight Riders

US asset manager Ares Management is in talks to acquire a minority stake in three-time Indian Premier League (IPL) winner Kolkata Knight Riders (KKR), as per a Moneycontrol report.

The talks follow the sales of Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR) earlier this year, underscoring the appeal of the BCCI-organised T20 cricket league.

The Kolkata franchise is owned by Knight Riders Sports Pvt Ltd, which was set up in 2008 as a joint venture between Bollywood superstar Shah Rukh Khan's Red Chillies Entertainment, actress Juhi Chawla and the industrialist Jay Mehta-backed Mehta Group.

According to Moneycontrol, only the Mehta Group, one of the co owners, plans to offload a 20% stake to unlock value, and talks are being held with Ares Management regarding this. No final decision has been made yet. Mehta Group is targeting a premium valuation for the franchise, upwards of $1.8 billion (around Rs 17,208 crore).

Upstox

Online trading platform Upstox has kicked off discussions with investment banks about a potential initial public offering (IPO), according to a Bloomberg report.

The Tiger Global-backed stock brokerage has held preliminary talks with bankers and is set to appoint advisers, the report said, citing sources.

The offering could raise about $400 million (around Rs 3,824 crore) and is expected to comprise a mix of issue of new shares and a sale by existing investors, the report added.

BGauss

Electric two-wheeler maker BGauss has raised Rs 110 crore (around $11.5 million) in a Series D funding round led by founder Hemant Mahendrakumar Kabra, according to an Entrackr report citing regulatory documents. The round included participation from existing investor Bharat Value Fund and others.

Kabra led the round with a Rs 50 crore investment, while existing investor Bharat Value Fund infused Rs 44 crore, the report said. Adesh Realtor LLP and Maithan Alloys contributed Rs 10 crore and Rs 6 crore, respectively. The latest round values BGauss at around Rs 1,000-1,100 crore (around $104-115 million) on a post-money basis.

Founded in 2020 by Hemant Kabra, BGauss makes electric scooters that combine design with technology features such as AI-enabled systems, IoT integration, fast charging and low-maintenance requirements.

Published by HT Digital Content Services with permission from VC Circle.