Deals this week: RKT Lifestyle, Smytten, AutoZone

21 April 2016 (Last Updated April 21st, 2016 18:30)

Indian online apparel retailer RKT Lifestyle (Yufta) has completed a pre-Series A round of funding, which will finance the expansion of its product portfolio and new technology development.

AutoZone

Indian online apparel retailer RKT Lifestyle (Yufta) has completed a pre-Series A round of funding, which will finance the expansion of its product portfolio and new technology development.

The funding was led by Ajay Data and a group of high net-worth individuals from Mumbai, India, and Dubai, UAE.

Yufta was co-founded by Ritesh Khandelwal, Ravi Khandelwal and Tarun Sharma.

Smytten, an Indian online discovery platform, has secured an undisclosed amount in angel round of funding from Rajan Anandan, vice-president of Google for South East Asia and India.

Founded by Siddhartha Nangia and Swagata Sarangi, Smytten allows users to discover various products and services.

Smytten aims to use the proceeds for business expansion and product development.

AutoZone has announced the issue of 1.625% senior notes in a public offering to raise $250m.

"AutoZone has announced the issue of 1.625% senior notes in a public offering to raise $250m."

Due 21 April 2019, the senior notes will be offered at a rate of 1.125% a year with a yield to maturity of 1.649%. The interest is payable biannually each year, beginning 21 October.

The net proceeds will be used by AutoZone for corporate purposes.

Passport Co. has agreed to issue 9,730,000 shares of common stock in private placement to raise JPY1.138bn ($10.46m).

The shares will be issued to Japan-based Kenkou Corporation at a price of JPY117 ($1.07) a share.

Kenkou will own a 65.83% interest in Passport, following completion of the deal.

Italian online retailer Yoox Net-A-Porter Group (YNAP) has issued 3,571,428 ordinary shares to Alabbar Enterprises to raise €100m ($113m), at a price of €28 ($31.64) a share.

The transaction will allow Mohamed Alabbar, who controls Alabbar Enterprises, to own a 4% interest in the ordinary share capital of YNAP. The lock-up period for the subscribed shares is 18 months.

YNAP plans to use the proceeds to expand its business.


Image: AutoZone store located in Dougherty County, Georgia, US. Photo: courtesy of Michael Rivera.