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Canadian pension fund Ontario Teachers’ Pension Plan (OTPP) is in advanced stages of finalising a $50 million stake purchase in Hyderabad-based software-as-a-service firm Darwinbox, which will value the company at more than $1 billion, according to three people with knowledge of the matter.
OTPP is acquiring the stake in a mix of primary and secondary transactions, which will see Peak XV Partners partially sell its six-year-old holding in the company, which specialises in human resource (HR) services.
In March, Darwinbox had closed a $140-million round…
