Fund Raising

Godrej Properties' board approves Rs 6,000 cr fund raise through securities

The funds will be raised in one or more tranches through public and/or private offerings

AI healthcare firm Qure.ai completes $65 mn Series D funding round

The investment will expedite expansion into the US market and other geographies, increase investment into foundational AI models and enable complementary med-tech company acquisitions

RPower seeks shareholders' nod to raise Rs 1,525 cr via preferential issue

Reliance Power will seek shareholders' approval to raise Rs 1,524.60 crore through a preferential issue. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant. The e-voting period that commenced earlier on Tuesday, will end on Wednesday, October 23, 2024. The result of the postal ballot will be announced on or before on Friday, October 25, 2024. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through a preferential issue where promoters will pour Rs 600 crore into the company to advance its business. Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Finan

Nurix AI raises $27.5 mn in funding round led by Accel, General Catalyst

Startup founded this year will use the financing on technology and business expansion

SpiceJet raises Rs 3,000 cr through QIP, to receive additional Rs 736 cr

With the latest capital infusion, SpiceJet plans to strengthen its operations, expand its fleet, and extend its network to meet growing passenger demand in the country

SpiceJet raises Rs 3,000 crore through QIP, to receive additional Rs 736 cr

Domestic carrier SpiceJet on Monday said it has raised Rs 3,000 crore through a Qualified Institutional Placement (QIP). The QIP, which opened on September 16 and closed on September 18, received an overwhelming response from qualified investors and got significantly oversubscribed, demonstrating strong confidence in the company's growth prospects, SpiceJet said in a statement. It also said the QIP attracted a diverse pool of top-tier institutional investors and mutual funds, including Goldman Sachs (Singapore), Morgan Stanley Asia, BNP Paribas Financial Markets ODI, Nomura Singapore Ltd ODI, Tata Mutual Fund, Discovery Global Opportunity Ltd, among others. In addition to Rs 3,000 crore funding, SpiceJet said it will also receive an additional Rs 736 crore from the previous funding round, further boosting its financial stability and growth plans. The newly raised capital will be used to operationalise grounded aircraft, acquire new planes, invest in technology, and expand into new

FinOps platform Bluecopa raises $1.8 million in pre-Series A round

The Hyderabad-based company will use the fresh capital to expand market reach, improve artificial intelligence (AI) capabilities, and advance product development.

Chennai-based fintech Kaleidofin announces raising $13.8 mn in funding

Company provides loans to low-income customers and businesses in informal economy

Oriental Trimex to raise Rs 48.51 crore; rights issue opens Thursday

Oriental Trimex, a processor and trader of natural stones, on Monday announced that the company will raise Rs 48.51 crore through rights issue. The subscription to the rights issue will open on Thursday and conclude on September 27. The company will issue up to 4.41 crore equity shares at price of Rs 11 per share (including a premium of Re 1 per share) on a rights basis to the eligible equity shareholders in the ratio of three equity shares for every two fully paid-up equity shares held by the eligible equity shareholders, Oriental Trimex said in a statement. The company has fixed September 5, 2024 as the record date to decided the eligibility of shareholders, it added. Proceeds from the issue will be used by OTL to repay its loans and working capital requirement. Also, funds will be used by the firm for setting up an additional machinery for marble block in Tamil Nadu and development of Jet-Black quarry granite in Odisha. "With only a nominal interest amount remaining, which is .

Centricity's valuation reaches $125 mn in funding round led by Lightspeed

Centricity plans to utilise the fresh capital to expand its operations. The company intends to double its tech development team from 75 to over 150 specialists

Home decor brand Nestasia raises $8.35 mn in from Susquehanna Asia VC

Home decor and lifestyle brand Nestasia has raised USD 8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners and notable angel investors. The capital raise will scale the company's efforts in offline store expansion, new category launches, brand building, and hiring, according to a release. Nestasia plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as home products for children (Nest Baby and Kids), among others. Nestasia, which was founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, offers a curated selection of home decor and lifestyle products across six key categories. "This funding empowers us to stay true to our mission to Make Home Special' by introducing fresh, on trend products, expanding our offline presence, and strengthening our brand connection with customers," Aditi Murarka Agrawal, Co-founder of Nestasia said. Nestasia has been expanding its

PNB Housing plans to raise up to $125 mn in Q3: MD & CEO Girish Kousgi

In FY25, Kousgi expects the share of borrowing via ECB, NHB, NCDs, and CPs to slightly increase, while bank borrowings will come down

ADIA-backed NIIF to seek $4 bn for infrastructure in largest-ever fundraise

The National Investment & Infrastructure Fund, backed by the Indian government and several global investors, is looking to raise money early next year

US elections: Donald Trump's campaign reports raising $130 mn in August

Donald Trump's campaign says that it brought in $130 million in August, not as much as the month prior but a figure that his advisers said put the GOP nominee in good position for the remaining two months of the general election campaign. Most of that figure 98% came in the form of donations under $200, Trump's campaign said Wednesday, with an average donation of $56. The fundraising release comes as the general election battle between Trump and Vice President Kamala Harris hits its peak. It was just over six weeks ago that President Joe Biden ended his reelection bid and elevated Harris to the top of the Democratic ticket. Trump has proven to be a prolific fundraiser, but the newness of Harris' bid has prompted a boost in cash from Democratic donors. Harris' campaign hasn't yet put out its fundraising figures for August. But in the five-week period that began with Biden's departure from the race and ended the Sunday following the Democratic National Convention, Harris' campaign

Ireda board OKs fund raising upto Rs 4,500 crore via further public offer

The issue will be done in one or more tranches and is subject to the approval from the Government of India and other statutory/regulatory approvals

Ahmedabad-based Aeron Composite raises Rs 15.17 crore from anchor investors

Fibreglass reinforced polymer products supplier Aeron Composite Ltd has said it has raised Rs 15.17 crore from the anchor investors. The Ahmedabad-based company has allotted 12,14,000 equity shares to as many as 10 fund schemes at Rs 125 per share, the upper end of its IPO price band, Aeron Composite said in a statement. India Ahead Venture Fund, Nav Capital VCC, AG Dynamic Funds Limited, Craft Emerging Market Fund PCC, Finavenue Capital Trust and Galaxy Noble Global Opportunities Fund PCC are among the anchor investors, it added. The company's Initial Public Offering (IPO) to raise a total of Rs 56.10 crore opened for subscription on the NSE Emerge platform of the National Stock Exchange. The issue will close for subscription on August 30. Investors can bid for a minimum of 1,000 shares and in multiples thereof. The company has fixed the price band at Rs 121-125 per share for public offer which is entirely a fresh issue of 44.88 lakh equity shares. The retail investor quota for

Adani Enterprises to issue 1st-ever public bond next wk to raise Rs 800 cr

The company will sell bonds of multiple maturities including two years, three years and five years. However, it did not disclose what the funds would be used for

Sebi's rights issue revamp may require tightrope walk

Legal experts say reduced timeline welcome but some proposals may compromise quality of issuances

OYO raises Rs 1,457 crore from investors in series G funding round

Oravel Stays Ltd, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round, sources said. This fund raise concludes the Series G funding round. The IPO-bound unicorn had earlier raised nearly Rs 1,040 crore and Rs 416.85 crore in the same series. According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8. The capital will be used to support OYO's growth and its global expansion plans, sources said. The additional fund raise values the company at the same valuation of USD 2.4 billion, as the first Series G tranche issued to InCred in July, a source said. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The funding round includes contributions from InCred Wealth, who led the recent fundraise as well as J&A ...

SBI raises $750 mn via offshore term loan facility for deployment of funds

SBI's board has approved a plan to raise long-term funds up to $3 billion in single or multiple tranches in FY25