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Amazon to acquire Narayana Murthy-led Catamaran Venture’s stake in Cloudtail

Amazon india has sought the approval from the competition commision of india (cci) for acquisition of the catamaran venture’s stake in cloudtail..

  • Updated Dec 22, 2021, 8:03 PM IST

Amazon India has sought regulatory approval from the Competition Commision of India for acquiring Catamaran Venture's stake in Cloudtail

Amazon India will acquire the 76 per cent stake of Narayana Murthy’s family office, Catamaran Ventures in Cloudtail India, which is the biggest seller on the e-commerce platform. Amazon India has sought the approval from the Competition Commision of India (CCI) for acquisition of the Catamaran Venture’s stake in Cloudtail.

 “Prione Business Services Pvt. Ltd., the joint venture between Catamaran and Amazon, will be acquired by Amazon subject to requisite regulatory approvals. On August 09, 2021, the Partners had announced their decision to not continue the JV beyond the end of its current term of May 2022,” as per a joint statement.

“Amazon will acquire Catamaran’s shareholding in Prione in compliance with applicable laws including all assets and liabilities.  The businesses of the Joint Venture shall continue under the leadership of the current management and on receipt of regulatory approvals, the board of Prione & Cloudtail will take steps to complete the transaction in compliance with applicable laws,” the statement added.   Cloudtail, in which Amazon holds 24 per cent stake, along with Narayana Murthy’s Catamaran Ventures (76 per cent), saw net profit rise by 171 per cent year-on-year to Rs 183 crore in FY21.   It also has Amazon India head, Amit Agarwal as its board member. After the scrutiny from regulators and the government, Amazon and Catamaran Ventures recently announced that Cloudtail India will cease operations from May 2022.

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  • #Amazon to acquire full stake in JV Prione Business Services
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Ola Electric in talks with Narayana Murthy's Catamaran for funding

Ola electric raised $200 million in january 2022 from a clutch of investors including tekne private ventures, alpine opportunity fund, edelweiss, and others. the round valued the electric two-wheeler maker at $5 billion..

Photo of Aparajita Saxena

Thursday June 08, 2023 , 2 min Read

 Ola Electric  is reportedly in talks with Infosys co-founder NR Narayana Murthy's investment vehicle, Catamaran, to secure funds for its next round, where it hopes to raise $300 million, according to a report by The Economic Times .

Ola Electric's existing investor, Singapore state-owned private equity giant Temasek, is expected to put in around $100 million in the round, ET said, citing three top sources.

Catamaran is likely to invest $100 million to $150 million in Ola Electric, the report added.

Ola Electric and Catamaran did not immediately respond to YourStory's request for comment or to confirm the veracity of ET's report.

The Bhavish Aggarwal-led EV manufacturer raised $200 million in January 2022 from a host of investors such as Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others.

The pre-IPO round is likely being done to give early investors an exit, said an investor who spoke on condition of anonymity.

"The market is hard right now, and most projections say it'll get tougher down 2-4 quarters down the line. Also given the bust IPOs of  Paytm  ,  Nykaa  , some early investors might be apprehensive about staying on till 2024 (when Ola Electric has planned for its IPO)," the investor said.

YourStory recently reported that Ola Electric has reportedly engaged Goldman Sachs, Kotak, Citi, and Axis as book runners for its IPO. The company could look to raise $1 billion in net proceeds from the IPO, at a valuation of $10 billion.

Edited by Megha Reddy

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catamaran ventures narayana murthy

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The Accelerating Values dialogue features a conversation between Mr. Murthy and Dr. Binh on the potential of Vietnam’s IT industry.

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The Record | Leadership by Example – Episode 1 | Narayana Murthy x T.V. Mohandas Pai

In the first of the 3 part video series, Narayana Murthy and T.V. Mohandas Pai look back on India’s economic journey, from liberalization to compassionate capitalism, and share their vision for creating a better future for the country.

catamaran ventures narayana murthy

The Record | Creating a World-Class Organisation – Episode 2 | Narayana Murthy x T.V. Mohandas Pai

In the 2nd episode, Narayana Murthy and T.V. Mohandas Pai discuss the importance of sales, finance and human resources in building a successful company. They explore the significance of ongoing performance evaluation for founding teams and the need for a new equity allocation model.

catamaran ventures narayana murthy

The Record | Corporate Governance – Episode 3 | Narayana Murthy x T.V. Mohandas Pai

Episode 3 underscores the significance of sound corporate governance in cultivating societal trust. It explores the dual phases of growth that every company experiences. Narayana Murthy reflects on his path of assembling a contributive board and his unique approach to assuming the roles of CEO and Chairman at Infosys.

catamaran ventures narayana murthy

Fintech Diary S02 EP06: In conversation with Deepak Padaki, President, Catamaran

Deepak Padaki, President at Catamaran, talks about investment areas, funding winter, industry trends, asset management and more in this episode of Fintech Diary.

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NR Narayana Murthy On Starting Up, Sacrifices & Values

Exclusive footage from the Moneycontrol Startup Conclave features Infosys founder Narayana Murthy engaging in a casual chat with his son Rohan Murty, discussing startup struggles and successes.

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© 2024 – Catamaran – All rights reserved

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Amazon to end JV with Narayana Murthy's Catamaran Ventures by May 2022

Recently, the confederation of all india traders (cait) had written to narayana murthy asking him to end his partnership with amazon..

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Narayana Murthy’s Catamaran Venture buys 1.12% stake in Gokaldas Exports

Gokaldas exports is one of the largest manufacturer and exporter of apparels in india, with annual turnover of $200 million.

Gokaldas

In the past one month, the stock of Gokaldas Exports has surged 11.4 percent as against 1 percent decline of the Sensex benchmark during the same period

catamaran ventures narayana murthy

Venture capital firm Catamaran Ventures LLP, led by Infosys cofounder NR Narayana Murthy, bought a 1.12 percent stake in apparel manufacturer Gokaldas Exports , revealed the company’s shareholding data by the end of September. Catamaran Ventures owned around 6.7 lakh equity shares in Gokaldas Exports, which is worth over Rs 57 crore (as per October 12 closing price).

On October 12, around 5 lakh shares exchanged hands at both the exchanges, as against 4 lakh shares on a-month average basis.

Follow live blog for all the market action

In the past one month, the stock of Gokaldas Exports has surged 11.4 percent as against 1 percent decline in the Sensex benchmark during the same period. Earlier, the stock had hit 52-week high of Rs 883 per share on August 30, 2023.

Gokaldas Exports is one of the largest manufacturer and exporter of apparels in India, with annual turnover of $200 million. Through its retail subsidiary ‘The Warehouse’ – the company sells garments to the Indian retail market through offline channels.

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Also Read:  A good yarn: Gokaldas Exports’ story of success likely to continue

Catamaran Ventures has made investments across high-growth sectors like e-commerce, technology, financial services, healthcare, and education. Some of their latest investments, as per their company’s website, included SpaceX, Reddit, Loco, Udaan, Paper Boat, among several others.

In the June-ended quarter of fiscal year 2023-24 (Q1FY24), the Gokaldas Exports’ consolidated net profit declined 17.4 percent year-on-year (YoY) to Rs 32.5 crore from Rs 39.4 crore, in the year-ago period due to drop in exports to the US and European nations. The company’s consolidated revenue, too, saw a decline of 15.7 percent YoY to Rs 514 crore in Q1FY24.

That apart, earnings before interest, tax, depreciation, and amortisation (Ebitda) fell 16.7 percent YoY to Rs 60.2 crore in Q1FY24, while Ebitda margins contracted by 10 basis points (bps) YoY to 11.7 percent.

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Narayana Murthy Parts Ways With Amazon, Cloudtail To Wind Up Operations By May 2022

catamaran ventures narayana murthy

One of India’s most controversial business partnerships is coming to an end.

Amazon seller Cloudtail, which was jointly owned by Infosys founder Narayana Murthy’s Catamaran Ventures and Amazon, has said that it will cease operations from May 2022. The move was announced hours after the Supreme Court of India asked the Competition Commission of India (CCI) to continue its investigation into Amazon and Flipkart for misusing their dominance in the Indian e-commerce space. Critics of Amazon’s model have long alleged that Cloudtail helped Amazon circumvent India’s FDI rules around e-commerce.

catamaran ventures narayana murthy

Cloudtail’s roots were laid as long as seven years ago — Narayana Murthy’s Catamaran Ventures and Amazon had come together to form a Joint Venture in 2014 named Prione Business Services. Amazon owned 49% of Prione Business Services, while Catamaran Ventures owned 51%. Prione Busineses Services then incorporated a fully-owned subsidiary named Cloudtail, which had started off helping smaller sellers sell their products, but soon itself became one of the most prominent sellers on Amazon India. India’s FDI laws permit e-commerce companies to only run marketplaces and not own any inventory, but the joint venture with Narayana Murthy’s company allegedly allowed Amazon to skirt India’s FDI laws by allowing Cloudtail to become a major seller on Amazon’s platform.

Even though Amazon was a minority shareholder in Cloudtail, it exercised significant control over the company. “It is no coincidence that the managing directors, CFOs, key persons are (so-called) former employees of Amazon,” Indian trade body CAIT had alleged in an open letter earlier this year. “Even the majority of board members of Cloudtail are (so-called) former employees of Amazon. (Even though) Narayana Murthy owns a majority of Cloudtail, the board of directors have Amazon in majority,” the letter had claimed. The body had also alleged that Amazon-controlled companies were accounting for 80% of sales on Amazon India in spite of laws not allowing foreign e-commerce companies to sell products directly to consumers.

The rumblings around Cloudtail had grown louder in recent months. In February, Reuters had published a bombshell report by accessing emails between US government officials and Amazon executives, which showed that Amazon had selectively helped a select group of sellers on its platform. The report had also said that two Amazon-controlled entities accounted for 35% of the total sales in India. In June, British newspaper The Guardian had reported that Cloudtail had been hit with a Rs. 56 crore tax demand by Indian authorities. In July, the High Court had dismissed Amazon and Flipkart’s pleas to halt CCI’s investigations.

Indian sellers had also put pressure on Narayana Murthy to end the partnership. “Mr. Murthy has been in cahoots with Amazon through a name-lending arrangement with Cloudtail acting as a front for Amazon’s retail business and defied the objectives of the policies of the Government of India,” the Indian Sellers Collective had written in a letter. “Just for a fixed fee or returns, Mr. Murthy has sacrificed the interests and livelihood of millions of small traders in India and left them at the mercy of Amazon.”

Amazon and Catamaran Ventures have now decided to part ways, and this signals the end of Cloudtail’s operations in India. It has already been reported that Amazon will look to replace Cloudtail with several smaller sellers which will not be controlled by Amazon, and will try to ensure that no one seller becomes unduly influential over the marketplace. But the fact that Amazon was able to seemingly skirt FDI rules for seven long years in spite of local news reports, the attention of international media, and protestations by local traders shows just how much multinational giants with influence can get away with while running their operations in India.

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catamaran ventures narayana murthy

Catamaran Ventures picks up 1.12% stake in garment maker Gokaldas Exports

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Gokaldas Exports, one of India’s largest garment manufacturers and exporters, is promoted by Florintree Advisors, a private equity firm run by former Blackstone executive Mathew Cyriac.

Narayana Murthy's Recommendations for Leadership and Organizational Structure

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Russian Company AO "PROMTEKH"

Brief profile.

active Commercial

TIN 5024101198
Region, city Moscow Oblast, Dubna
Company Age (for comparison: the industry average is 6 years)
Core Activity Investments in securities
Scale of Operation
Revenue and its change over the year

in 2023 (-61.1%)

Number of employees and its change over the year
Founders

Registrar:

Manager (general manager)
Where the company is listed as the founder (100%; 10 thousand RUB) (100%; 10 thousand RUB) (100%; 1 million RUB)

Facts to Consider

In its reporting the organization specified that audit is mandatory, but failed to submit the auditor’s opinion to Federal Tax Service.

There is an enforcement proceeding in the bailiff database

Significant drop in the revenue for the year (by 61.1%).

The manager is also a CEO in 1 organization.

The authorized capital has increased over the past two years.

The company has been in business for 15 years.

show 1 more positive fact

Complete Profile

  • 1. General Information
  • 2. Registration in the Russian Federation
  • 3. Company's Activities
  • 4. Legal Address
  • 5. Owners, Founders of the Entity
  • 6. AO "PROMTEKH" CEO
  • 7. Entities Founded by Company
  • 8. Number of Employees
  • 9. Company Finance
  • 10. Timeline of key events
  • 11. Latest Changes in the Unified State Register of Legal Entities (USRLE)

General Information

Full name of the organization: AKTSIONERNOE OBSHCHESTVO "PROMYSHLENNYE TEKHNOLOGII"

TIN: 5024101198

KPP: 501001001

PSRN: 1085024625510

Location: 141984, Moscow Oblast, Dubna, pr-kt Nauki, 14 korp. 5, pomeshch. 7

Line of business: Investments in securities (OKVED code 64.99.11)

Organization status: Commercial, active

Form of incorporation: Non-public joint-stock companies (code 12267 according to OKOPF)

Registration in the Russian Federation

The tax authority where the legal entity is registered: Mezhraionnaia inspektsiia Federalnoi nalogovoi sluzhby №12 po Moskovskoi oblasti (inspection code – 5010). The tax authority before 06/10/2022 – Inspektsiia Federalnoi nalogovoi sluzhby po g. Krasnogorsku Moskovskoi oblasti (code 5024).

Registration with the Pension Fund: registration number 060008062447 dated 21 July 2022.

Registration with the Social Insurance Fund: registration number 502310971650231 dated 16 March 2009.

Company's Activities

The main activity of the organization is Investments in securities (OKVED code 64.99.11).

Before 12/19/2008, the main activity of the organization was listed as Investments in securities and dealer activities (OKVED code 64.99.1).

Additionally, the organization listed the following activities:

46.43.1 Wholesale of electrical household appliances
46.49.49 Wholesale of other consumer goods not elsewhere classified
46.62.3 Wholesale of machine tools for processing other materials
46.69.2 Wholesale of operating materials and accessories for machines
46.69.5 Wholesale of industrial electrotechnical equipment, machines, apparatus and materials

Legal Address

AO "PROMTEKH" is registered at 141984, Moscow Oblast, Dubna, pr-kt Nauki, 14 korp. 5, pomeshch. 7. ( show on a map )

On 06/10/2022 the organization moved to another city, the former address

No other organizations are listed at the current registered address.

Owners, Founders of the Entity

Since the organization is a joint-stock company, the list of shareholders is not contained in the Unified State Register of Legal Entities. To obtain an extract from the register of shareholders, you should contact the registrar AO VTB REGISTRATOR

There is no data on the founders of AO "PROMTEKH" as of 09/16/2024 in the Uniform State Register of Legal Entities. The previous founders were:

Founders from which date Until
12/19/2008 01/20/2022
(TIN: 500602952160) 12/19/2008 01/20/2022

AO "PROMTEKH" CEO

The head of the organization (a person who has the right to act on behalf of a legal entity without a power of attorney) since 19 December 2008 is general manager Shadrin Valerii Vladimirovich (TIN: 500601525214).

Also Shadrin Valerii Vladimirovich is a founder of 2 organizations:

  • AO "OKB "AEROKOSMICHESKIE SISTEMY"
  • "DIGITAL MANUFACTORY" JSC

Entities Founded by Company

Currently AO "PROMTEKH" is listed as a founder in the following organizations:

  • "ASPECTRIYM" LTD (Moscow Oblast, Krasnoznamensk; 100%; 10 thousand RUB)
  • OOO "ETS" (100%; 10 thousand RUB)
  • OOO "PROMTEKHPOSTAVKA" (Moscow Oblast, Krasnogorsk, d. Putilkovo; 100%; 1 million RUB)

Previously the organization was listed as a founder in:

  • AO "PROMTEKH-KAZAN" (Republic Of Tatarstan, Kazan; 1 million RUB) - until 12/15/2021
  • AO "PROMTEKH-IRKUTSK" (Irkutsk Oblast, Irkutsk; 1 million RUB) - until 11/01/2021
  • "AQUATORIA" LTD (Moscow Oblast, Krasnogorsk, d. Putilkovo; 100%; 10 thousand RUB) - until 05/12/2023
  • AO "PROMTEKH-ULIANOVSK" (Ulyanovsk Oblast, r-n Cherdaklinskii; 1 million RUB) - until 10/15/2021
  • AO "OKB "AEROKOSMICHESKIE SISTEMY" (Moscow Oblast, Dubna; 100%; 1 million RUB) - until 01/03/2022

Number of Employees

In 2023, the average number of employees of AO "PROMTEKH" was 2 people. The same number was the year before.

Company Finance

The Authorized capital of AO "PROMTEKH" is 100 million RUB.

As of December 31, 2023, the organization's total assets were 2.3 billion RUB This is 37.8 million RUB (by 1.7 %) more than a year earlier.

The net assets of AO "PROMTEKH" as of 12/31/2023 totaled 2.3 billion RUB.

The AO "PROMTEKH"’s operation in 2023 resulted in the profit of 97.8 million RUB. This is by 479.6 times more than in 2022.

The organization is not subject to special taxation regimes (operates under a common regime).

The organization belongs to the micro business category. In accordance with the criteria established by regulations, an organization with the annual revenue of up to 120 mln RUB and up to 15 employees is considered a micro business.

Information about the taxes and fees paid by the organization for 2022

Value added tax RUB.
Income tax RUB.
Insurance premiums for compulsory medical insurance of the working population credited to the budget of the Federal Compulsory Medical Insurance Fund RUB.
Insurance contributions for compulsory social insurance in case of temporary disability and in connection with maternity RUB.
Insurance and other contributions for compulsory pension insurance credited to the Pension Fund of the Russian Federation RUB.
Transport tax RUB.
Corporate property tax RUB.
NON-TAX INCOME administered by tax authorities RUB.

The organization had no tax arrears as of 05/10/2024.

The unpaid tax penalties as of 10/01/2020: 1.38 thous. RUB.

Enforcement proceedings

In relation to a legal entity, the database of the Federal Bailiff Service contains the following enforcement proceedings as of 10/13/2024:

Enforcement proceedings, number, date of initiationAmount due, rub.Remaining debt balance, rub.
Other property penalties in favor of individuals and legal entities for period 2024
The executive list # from 08/11/2024

Timeline of key events

  • The legal address changed from to Moscow Oblast, Dubna, pr-kt Nauki, 14 korp. 5, pomeshch. 7 .
  • The tax authority where the legal entity is registered was changed to Mezhraionnaia inspektsiia Federalnoi nalogovoi sluzhby №12 po Moskovskoi oblasti (earlier it was Inspektsiia Federalnoi nalogovoi sluzhby po g. Krasnogorsku Moskovskoi oblasti ).
  • is no longer listed as the founder in the Unified State Register of Legal Entities.
  • Shadrin Aleksei Valerevich is no longer listed as the founder in the Unified State Register of Legal Entities.

Latest Changes in the Unified State Register of Legal Entities (USRLE)

  • 08/05/2024 . State registration of changes made to the constituent documents of a legal entity related to changes in information about a legal entity contained in the Unified State Register of Legal Entities, based on an application.
  • 11/15/2022 . Submission of information about the registration of an individual at the place of residence.
  • 09/30/2022 . State registration of changes made to the constituent documents of a legal entity related to changes in information about a legal entity contained in the Unified State Register of Legal Entities, based on an application.
  • 07/22/2022 . Entering information about registration in the Pension Fund of the Russian Federation.
  • 06/10/2022 . Entering information about accounting with the tax authority.
  • 03/31/2022 . Change of information about a legal entity contained in the Unified State Register of Legal Entities.
  • 01/20/2022 . State registration of changes made to the constituent documents of a legal entity related to changes in information about a legal entity contained in the Unified State Register of Legal Entities, based on an application.
  • 08/13/2021 . Changes to the information contained in the Unified State Register of Legal Entities in connection with the renaming (resubordination) of address objects.
  • 07/04/2018 . State registration of changes made to the constituent documents of a legal entity related to changes in information about a legal entity contained in the Unified State Register of Legal Entities, based on an application.
  • 10/31/2016 . Entering information about registration in the Pension Fund of the Russian Federation.

* The date of change in the Unified State Register of Legal Entities is shown (may be different from the actual date).

The data presented on this page have been obtained from official sources: the Unified State Register of Legal Entities (USRLE), the State Information Resource for Financial Statements, the website of the Federal Tax Service (FTS), the Ministry of Finance and the Federal State Statistics Service.

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USD61.5333Rub.-0.04
EUR68.5358Rub.-0.12
CNY8.97105Rub.+0.03
city,

Analysis of real estate market in Moscow Oblast, Russia:

  ,   ,
  ,  
RUB: USD: /m² EUR: /m²
USD: /ft²GBP: /ft² CHF: /m²
CNY: /m²JPY: /m²
Change of cost per square foot in per week (USD):
Change of average apartment cost in rubles per week,
108 apartments$3.44 million5.47 thousand m²
58.9 thousand ft²
flats/apartments in secondary housing market
1 bedroom apartments27.8%30$756.9 thousand1.09 thousand m²
11.8 thousand ft²
2 bedroom apartments32.4%35$1.07 million1.63 thousand m²
17.5 thousand ft²
3 bedroom apartments33.3%36$1.34 million2.31 thousand m²
24.8 thousand ft²
multi-bedroom apartments6.5%7$280.3 thousand442 m²
4.76 thousand ft²
average apartment cost per square foot/meter
1 bedroom apartments
2 bedroom apartments
3 bedroom apartments
multi-bedroom apartments
flats/apartments cost on 06.01.2020
1 bedroom flat36.4 m²391.9 ft²
2 bedroom flat46.6 m²501.1 ft²
3 bedroom flat64.1 m²689.7 ft²
4+ bedroom flat63.1 m²679.5 ft²
| | |
and date of original publication. Liability limitation: the owner and administration of website RLT24.com are not responsible for the interpretation and consequences of using the materials from this website.

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