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Broadband technology company Sterlite Technologies Ltd has raised Rs 1,500 crore through a qualified institutional placement to primarily de-leverage debt and pursue the next phase of growth, the company said on Monday. The company allotted 2.57 crore equity shares to qualified institutional buyers, aggregating to Rs 1,500 crore. Following the allotment, STL's paid-up equity share capital increased to Rs 102.78 crore, comprising 51.39 crore equity shares, the company said in a statement. The QIP saw participation from both domestic and global investors, including Motilal Oswal, Nomura, HSBC and Oxbow, among others. "STLhas raised Rs 1,500 crore through a Qualified Institutions Placement (QIP). The entire process saw participation by reputed domestic and global investors including Motilal Oswal, Nomura, HSBC, Bank of India, Oxbow, Think Investments, Bandhan and Manulife, among others," the company said. The proceeds from the QIP will be primarily utilised to substantially de-leverag
Inox Clean Energy Limited (Inox Clean) said on Thursday that it has secured Rs 700 crore in funding from the Adar Poonawalla Family Office. This follows an investment from CalPERS (California Public Employees' Retirement System, the largest pension fund in the US), which had invested approximately Rs 800 crore in the previous rounds, amongst other investors, Inox Clean said in a statement. The fresh funding of Rs 700 crore from Rising Sun Holdings Pvt Ltd, part of Adar Poonawalla Family Office, was raised at a valuation of Rs 70,000 crore, reinforcing investor confidence in Inox Clean Energy's long-term growth strategy, it said. Devansh Jain, Executive Director, INOXGFL Group, said, "We welcome Adar Poonawalla Family Office as an investor in Inox Clean. This investment is a strong endorsement of our vision, execution capabilities, and long-term growth strategy. Over the past year, we have built tremendous momentum by successfully executing our growth roadmap through a combination of
Indus Valley, a toxin-free kitchenware brand, on Tuesday said it has raised USD 17 million (about Rs 161 crore) in a funding round led by private equity firm Gaja Capital. TheSeries B funding round also included participation from existing investors DSG Consumer Partners, Rukam Capital, and The Chennai Angels, the Chennai-based firm said in a statement. "This investment will help us accelerate product innovation, strengthen our omnichannel distribution, deepen our brand presence, and expand our leadership across safer kitchen categories," Jagadeesh Kumar co-founder and CEO of The Indus Valley said. DSG Consumer Partners MD & Head of India Hariharan Premkumar said the investment will deepen product and distribution capabilities. Founded in 2016 by Jagadeesh Kumar and Madhumitha Uday Kumar, Indus Valley is a cookware company which offers toxin-free, non-coated cookware solutions across cast iron, iron, stainless steel, triply cookware, and pressure cookers.