Equity Fundraising

Max Estates launches QIP, plans to raise Rs 800 cr for business growth

Realty firm Max Estates plans to raise Rs 800 crore by selling equity shares to institutional investors for the growth of business. In a regulatory filing on Thursday, Max Estates informed that an Investment and Finance Committee of the board approved launch of Qualified Institutional Placement (QIP) issue. The panel also approved the floor price for the issue at Rs 628.74 per equity share. According to sources, all major domestic mutual fund companies have participated in the QIP issue. The company would utilise the fund to acquire land in Delhi-NCR, they added. According to the notice of the 8th Annual General Meeting (AGM) of the members of Max Estates Ltd, the company plans to raise up to Rs 800 crore. "The company anticipates certain growth opportunities in its existing line of business," Max Estates said. The company said it continues to evaluate various growth avenues, including land acquisition. Max Estates proposed to raise funds aggregating up to and not exceeding Rs

DMI Finance set to raise funds from MUFG at $3 billion valuation

DMI Finance plans to use the capital to expand its balance sheet, co-founder said

Banks to equity fundraise Rs 40,000 crore in H2FY25 to boost balance sheets

State-run banks Punjab National Bank and Bank of Maharashtra are leading the fundraising with both seeking Rs 7,500 crore each

Zee's board gives in-principle approval to raise funds up to Rs 2,000 crore

This announcement comes after Sony India terminated its merger agreement with Zee Entertainment worth $10 billion in January this year

Indya raises Rs 50 crore funds from Sangita Jindal, JSW, others

Three fourths of the funding is equity infusion for a minority stake, while the rest is debt, Indya's co-founder Shivani Poddar said

Fundraising via qualified institutional placements gains traction in 2024

23 firms raised Rs 23,393 crore in 2024 via this route, almost half compared to the previous year

Fundraising via QIPs gain traction as India Inc looks for growth capital

Supportive markets, robust growth outlook ensure adequate demand for new paper supply

Electric mobility firm Yulu raises Rs 160 cr capital in equity funding

Electric bike-sharing platform Yulu Bikes on Friday said it has secured USD 19.25-million (Rs 160 crore) capital in equity funding through the issuance of shares to the company's existing strategic investors-- Magna and Bajaj Auto Ltd. The capital infusion will enable Yulu to maintain its growth streak and will strengthen its market leadership as it expands its reach in terms of vehicles, operational locations, and product and technology innovation to keep up with the rise in demand from users, the company said in a statement. On Thursday, Bajaj Auto said in a regulatory filing that it has raised its stake in Yulu Bike to 18.8 per cent of the paid-up equity share capital with an additional Rs 45.75 crore investment in the company. The company claims it has seen a nearly 5x leap in revenue over the last year. Yulu also said that it is on track to raise its Series C round of funding soon. The equity infusion will help the company fast-track its growth plans, said Amit Gupta, Co-foun

Gensol Engineering raises Rs 900 cr equity capital via convertible warrants

Renewable energy solutions provider Gensol Engineering on Wednesday said it has raised Rs 900 crore through the issue of warrants convertible into equity shares on a preferential basis. The equity fundraise saw participation from international and domestic participants including FPIs such as Elara India Opportunity Fund, Aries Opportunities Fund, Tano Investment Opportunities Fund etc. "Gensol Engineering, a leading renewable energy and electric mobility pioneer, today raised a significant Rs 900 crore equity capital through warrants convertible into equity shares on a preferential basis," a company statement said. The fundraise is subject to shareholders' approval at the EGM of the company to be held on March 2, 2024 and statutory approvals in compliance with SEBI Regulations. "We continue to build on our successful financial performance through the latest fundraise. This capital infusion strengthens Gensol's financial position, facilitating new possibilities with funds being ...

Sebi proposes changes to ease fundraising, disclosure for listed companies

The regulator proposes considering funds and insurance companies holding 5% in firms post-public offer as large non-public shareholders, as per the paper

State-run banks look to equity fundraising as perpetual bonds lose sheen

"This move has literally ended mutual fund investments in such papers, making fundraising more difficult," a trader with a private bank said

BluSmart raises $24 million via issue of equity rights to fund expansion

Electric vehicle ride-hailing service and charging infrastructure network operator BluSmart on Thursday said it raised USD 24 million (Rs 200 crore) through issue of equity rights to its existing investors for funding the company's expansion. The latest funding round saw participation through over-subscription of equities by existing investors, founders and the leadership team, BluSmart said in a statement. Currently, the platform operates over 5,500 electric vehicles in the domestic market. It owns and operates over 4,000 EV chargers across its 34 charging superhubs. The platform said it aims to scale to a fleet size of around 8,000 EVs across Delhi-NCR and Bengaluru by next year. "BluSmart has raised USD 24 million (Rs 200 crore) in a new equity round in December 2023," the company said in a statement. "We will continue to expand our brand promise of zero ride denials, on time service and clean mobility to more geographies. The overwhelming support for the rights issue by our ..

Tata Technologies, Cello among IPOs set for launch amid volatile market

Tata Technologies is among the most-awaited IPOs and the same is set to mark its entry into the share market in the second or third week of November

Agilus Diagnostics files for IPO to raise funds via 142.3 mn shares

The diagnostics giant partners with ICICI Securities, Axis Capital, and Citigroup for public offering, aiming to sell equity shares held by key investors

Amid pilot turmoil, Akasa Air mulling raising up to $400 million

The fundraising plan could involve fresh equity issuances of $75-100 million each and is set to be carried out over the next 12-18 months

Agritech Ergos raises $10 mn as equity, debt from investors to grow biz

Agritech firm Ergos has raised USD 10 million (about Rs 82.88 crore) through a combination of equity and debt from investors, including Norway's fund Abler Nordic, to expand its operations. In a statement on Friday, Ergos announced a "capital injection of USD 10 million through a combination of equity and debt, as part of its Series B round led by Abler Nordic and existing investors Aavishkaar Capital, Chiratae Ventures and Trifecta Venture Debt Fund." Ergos digitises grain storage, empowering farmers to convert their grains into tradable digital assets and earn more by selling produce at optimal times post-harvest. The company offers a buyer's platform linking farmers to markets, safe grain storage in warehouses, and access to affordable finance through partner lenders. Ergos currently supports over 1,60,000 farmers on its platform and has a physical network of farm-gate-based warehouses branded as Grainbank in over 200 locations across Bihar, Karnataka and Maharashtra. "There is

Zepto becomes first unicorn this year, raises $200 mn at $1.4 bn valuation

This comes amid a funding slowdown where startups, across the board, have found it challenging to raise capital

Indian debt collection startup raises $50 million from Accel, Westbridge

Lenders are looking for efficient ways to communicate with borrowers and collect payments, a task that becomes more onerous in countries such as India that are experiencing rising credit growth

Equity fundraising activity in India dips in H1CY23 amid market volatility

ECM activity down 15% in India even as globally it grows 19%, shows data

Bain Capital seeks to raise $4 bn for new global special situations fund

Bain Capital kicked off the fundraising at the start of the year and has already raised about $2 billion for the new fund, said the sources, who requested anonymity