Page 18 - Fund Raising

Kabra Extrusion Technik board approves raising Rs 301 cr for expansion

A part of the city-based Kolsite Group and leading manufacturer of plastic extrusion machinery, Kabra Extrusion Technik recently ventured into the production of lithium-ion battery packs

Health & fitness start-up Healthquad raises $1 mn from Pat Cummins, others

The fast bowler who is also the Test Captain for Australia will be the company's brand ambassador

'63 IPO issuers mop up record Rs 1.18 trn from markets so far in 2021'

Pranav Haldea, managing director of Prime Database Group, said the IPO frenzy was driven by new-age loss-making technology start-ups along with strong retail participation

REC gets $169.5 mn from KfW Development Bank for power, renewable projects

This is the fifth credit line signed between REC Ltd and KfW for financing power sector projects and the third credit line for the financing of renewable energy projects

Distribution and logistics startup Ripplr raises $12 mn in debt, equity

The pre-series- B funding round also saw participation from existing investors 3one4 Capital, Zephyr Peacock India Growth Fund, and Chand Family Office

YES Bank board approves raising funds up to Rs 10,000 crore

The fundraising will happen through various instruments, including equity and bonds

Hevo raises $30 million in funding from Sequoia Capital India, others

The company plans to use the funds to scale sales and marketing efforts, double the focus on building new products, and build teams in the US and Europe

Digital identity platform Bureau raises $12 million led by Quona

Bureau, the digital identity verification and fraud protection platform, has raised USD 12 million in series-A funding round led by Quona Capital with participation from Commerce Ventures and Okta Identity.

Burger King India plans to raise Rs 1,500 crore via securities

While the company did not specify where the funds are intended to be used, Burger King India has been on a footprint expansion

Greenlam to invest Rs 950 cr on new plant for plywood, particleboard biz

The investments in the new laminate plant and particleboard will be done by Greenlam South Ltd

Fabric-maker Raymond to raise Rs 100 cr through non-convertible debentures

The company's board is meeting on December 17 to consider and approve the NCDs

Ola in talks to raise over $1 billion through equity, debt: Report

Ola is in talks to raise over USD 1 billion in funding through a mix of equity and debt over the next few months as the ride-hailing platform prepares for hitting the IPO route next year, according to sources. The company has recently raised over Rs 1,049 crore (about USD 139 million) from Edelweiss and others at a valuation of over USD 7 billion. According to sources, Ola is in discussions to raise a pre-IPO round of over USD 1 billion at a valuation of USD 7.5 billion. The fund raise, which is expected to be done in multiple tranches, would be a combination of equity and debt, they added. Ola did not respond to emailed queries. The USD 139 million equity funding raised is part of this larger round, they said adding that the proceeds will be utilised for key growth areas in the new mobility ecosystem. Ola is also looking at raising USD 500 million via a Term Loan (TLB) from global institutional investors. It had recently received a B-rating from S&P Global and a B3 credit rating

Start-ups ready for scrutiny, tiger-ride should go public: Industry experts

Companies wanting to go public to raise money from the market should weigh the pros and cons, said Nazara Technologies CEO Manish Agarwal

Equitas Small Finance Bank to raise up to Rs 1,000 crore via QIP

Stock of the firm closed with a gain of about one per cent at Rs 67.3 per share on the BSE on Monday. Its capital adequacy ratio stood at 24.07 per cent at the end of June

Consumer technology brand Nothing raises additional $50 million

The company plans to use the fund towards research and development in preparation for the brand's entry into new product categories as part of its ecosystem.

Ola Electric is raising another $200 mn at over $5 bn valuation: Sources

On September 30, Ola had announced raising over $200 mn in funding from Falcon Edge, SoftBank and others, valuing it at $3 bn

Chingari raises $19 mn, picks Solana blockchain for its crypto token

Short-video platform Chingari on Friday said it has raised over $19 million that will help it build its token called '$GARI' with Solana, the fastest-growing ecosystem in crypto technology.

Chalo raises $40 mn from Lightrock India, Filter Capital, others

Chalo, which powered 20 million bus rides in September 2021, has 15,000 buses live on its platform and a presence in 31 cities

Bank of India raises Rs 1,800 cr via Basel-III-compliant bonds

State-owned Bank of India on Thursday said it has raised Rs 1,800 crore by issuing Basel-III-compliant bonds. The bank raised Rs 1,800-crore Basel-III-compliant tier-II bonds on September 29 on a private placement basis, it said in a statement. The 10-year tenure bonds with a 5-year call option had a base issue size of Rs 1,000 crore and carries a coupon rate of 7.14 per cent. The issue was oversubscribed by two times, said the lender. "Bank has also successfully concluded the QIP issue of Rs 2,550 crore during August 2021, and with this issuance of QIP (qualified institutional placement), the Government of India stake in the bank has reduced to 81.41 per cent from 90.34 per cent earlier," it said. Earlier, Bank of India had raised Rs 1,352 crore of Basel-III compliant additional tier-I bonds on a private placement basis. Adequate capital buffer will facilitate better management of asset erosion, if any, and growth in the loan book through better risk appetite in a real sector ..

Skill tech platform Mechaniks TV plans to raise $1 mn for expansion

Independent skill-tech platform for automotive mechanics, Mechaniks TV, is in the process of raising funds of $1 mn for expansion of its offering and technology enhancement