Business Standard

Page 2 - Fund Raising

Sebi's rights issue revamp may require tightrope walk

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

Sebi's rights issue revamp may require tightrope walk
Updated On : 21 Aug 2024 | 8:36 PM IST

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 ...

OYO raises Rs 1,457 crore from investors in series G funding round
Updated On : 11 Aug 2024 | 2:36 PM IST

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

SBI raises $750 mn via offshore term loan facility for deployment of funds
Updated On : 30 Jul 2024 | 6:20 PM IST

Adani Enterprises to launch first-ever public debt issue to raise Rs 600 cr

The issue should open in mid-August after the final approval, one of the sources said on condition of anonymity

Adani Enterprises to launch first-ever public debt issue to raise Rs 600 cr
Updated On : 30 Jul 2024 | 11:17 AM IST

In future, we will have a few more listings from group: Ola Electric CEO

He believes this IPO is a key step in the company's long-term plan

In future, we will have a few more listings from group: Ola Electric CEO
Updated On : 30 Jul 2024 | 8:08 AM IST

Non-profit companies eye bigger fund raise through social exchange

Recent filings aim to raise as much as 10x more than the norm

Non-profit companies eye bigger fund raise through social exchange
Updated On : 05 Jul 2024 | 9:15 PM IST

Punjab and Sind Bank plans to raise Rs 2,000 cr via QIP likely in H2 FY25

State-owned Punjab & Sind Bank plans to raise Rs 2,000 crore in the second half of this fiscal via Qualified Institutional Placement (QIP) to fund business growth. "The board has already given approval, and merchant bankers should be on-boarded by August," Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. The fundraising can be concluded in the second quarter or third quarter, depending on market conditions. The QIP would help improve the Capital Adequacy Ratio of the bank, he said. The bank's capital adequacy ratio stood at 17.10 per cent at the end of March 2024. Besides, it would help bring down the government's holding in the bank. The government of India holds a 98.25 per cent stake in Punjab & Sind Bank. Asked about the loan growth outlook for the current financial year, Saha said the bank expects asset book to grow by 12-14 per cent, and in this, retail, agriculture and MSME (RAM) should witness a growth of 15-18 per cent. On the deposit side,

Punjab and Sind Bank plans to raise Rs 2,000 cr via QIP likely in H2 FY25
Updated On : 30 Jun 2024 | 2:59 PM IST

SBI raises Rs 10,000 cr via infrastructure bond issuance to fund projects

State Bank of India (SBI) on Wednesday raised Rs 10,000 crore through its fifth infrastructure bond issuance. The country's largest lender raised the funds at a coupon rate of 7.36 per cent. The issue attracted overwhelming response from investors with bids in excess of Rs 19,884 crore and was oversubscribed by around four times against the base issue size of Rs 5,000 crore, SBI said in a regulatory filing. The total number of bids received was 143, indicating wider participation with heterogeneity of bids, it said. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc, it said. The proceeds of bonds will be utilized in enhancing long-term resources for funding infrastructure and affordable housing segments, it said. "Based on the response, the bank has decided to accept Rs 10,000 crore at a coupon rate of 7.36 per cent payable annually. This represents a spread of 21 bps over the corresponding FBIL G-Sec par curve," it said.

SBI raises Rs 10,000 cr via infrastructure bond issuance to fund projects
Updated On : 26 Jun 2024 | 2:52 PM IST

Prestige Estates shares slump 5% on plans to raise capital via QIP

Prestige Estates shares dropped up to 5 per cent at Rs 1,837 per share on the NSE in Wednesday's intraday trade

Prestige Estates shares slump 5% on plans to raise capital via QIP
Updated On : 19 Jun 2024 | 10:24 AM IST

Alyve Health raises $5.5 mn in Series A funding led by Axilor Ventures

Health tech platform Alyve Health on Tuesday said it has raised USD 5.5 million (over Rs 45 crore) in a Series A funding round led by Axilor Ventures. The investment round saw participation from 1Crowd Fund, an existing investor, as well as Inhealth Ventures, a healthcare-focused fund, the company said in a statement. The company also raised venture debt fund from Trifecta Capital as part of this round, it added. The new funds will be utilised for strategic growth initiatives across key areas like platform enhancement, talent acquisition, expansion of operations, amplification of services, and higher member engagement, Alyve Health said. "This investment empowers us to continue innovating on our product and technology," Alyve Health Co-founder & CEO Shashank Avadhani said. Alyve Health provides healthcare services to individuals, employers, and other businesses with plans covering multiple healthcare journeys like doctor consultations, diagnostics, medicine purchases, dental ...

Alyve Health raises $5.5 mn in Series A funding led by Axilor Ventures
Updated On : 19 Jun 2024 | 12:31 AM IST

SBI plans to raise Rs 10,000 cr via infrastructure bonds, say bankers

This will be the lender's first bond issuance and the country's first infrastructure bond sale this financial year

SBI plans to raise Rs 10,000 cr via infrastructure bonds, say bankers
Updated On : 18 Jun 2024 | 11:49 PM IST

Startup Landeed raises funds from Paradigm Shift to extend product line

Proptech startup Landeed on Tuesday said it has raised funds in a strategic financing round led by Paradigm Shift VC. The company did not disclose the amount of funds raised. Landeed in a statement said it will utilise the fresh capital to extend its product line and expand its workforce to support its growing expansion in India and abroad. In January 2023, the homegrown startup raised USD 8.3 million in a funding round led by Y Combinator, Draper Associates, and Bayhouse Capital. Landeed's mobile app allows property owners, agents, developers, and legal advisors to access real estate records for building, lending, and transacting properties. Founded by Sanjay Mandava, ZJ Lin, and Jonathan Richards, the startup recently launched an AI Property Analyser, which provides a complete ownership history of properties, from the initial owner to the most recent, including any transactions or encumbrances. "Though we weren't actively raising funds, were heavily oversubscribed in the last r

Startup Landeed raises funds from Paradigm Shift to extend product line
Updated On : 18 Jun 2024 | 10:48 AM IST

Skincare startup Foxtale raises $18 mn in funding for category expansion

D2C skincare brand Foxtale on Wednesday said it has raised USD 18 million (about Rs 150 crore) in a funding round led by Singapore-based Panthera Growth Partners and plans to deploy the fresh capital towards category expansion and top-level hiring. The Series B funding round also saw participation from the company's returning investors Matrix Partners India and Kae Capital. Founded by Romita Mazumdar, the Mumbai-based startup commenced operations in January 2022 and has a vast customer base spanning over 100 Indian cities. "The fresh round of funds will be deployed towards expanding our digital footprint and introducing newer categories in our portfolio of products. Apart from category expansion, we are also looking to hire some C-suite executives into the team," Mazumdar told PTI. The young entrepreneur further mentioned that Foxtale is a digital-first business, with 90 per cent of its revenue driven digitally. Foxtale's gross revenue for FY24 stood at Rs 175 crore. For FY25, t

Skincare startup Foxtale raises $18 mn in funding for category expansion
Updated On : 12 Jun 2024 | 12:25 PM IST

State Bank of India plans to raise up to $3 billion via debt in FY25

Several state run-lenders, including Canara Bank, Punjab and Sind Bank and Punjab National Bank , plan to raise funds via debt this fiscal year

State Bank of India plans to raise up to $3 billion via debt in FY25
Updated On : 11 Jun 2024 | 2:25 PM IST

Battery Smart raises $65 mn in funding round led by LeapFrog Investments

Battery swapping network Battery Smart on Tuesday said it has raised USD 65 million in a funding round, comprising a mix of primary and secondary investments, led by LeapFrog Investments. The Series-B funding round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund (EIF), Blume Ventures, and British International Investment (BII), the company said in a statement. The freshly raised funds will be utilised to fuel the company's next phase of expansion, Battery Smart said. "The fresh capital will enable us to accelerate our expansion, enhance our technology, and strengthen our market presence," said Pulkit Khurana, Co-Founder and CEO, Battery Smart. Since the launch of its first swap station in the National Capital four years ago, the company has scaled to 1,000 stations across 30 cities, completing over 35 million swaps and has expanded its footprint nationwide with charging stations in tier 1, 2, and 3 cities, it ...

Battery Smart raises $65 mn in funding round led by LeapFrog Investments
Updated On : 11 Jun 2024 | 12:42 PM IST

B2B fintech Vegapay raises $5.5 mn; co. to fund team expansion, operations

The company will utilise the capital raised towards expanding product and technology teams and investing in operations and compliance requirements

B2B fintech Vegapay raises $5.5 mn; co. to fund team expansion, operations
Updated On : 30 May 2024 | 2:55 PM IST

Goldman Sachs fund raises more than $20 billion for direct lending

The fund, West Street Loan Partners V, is targeting to back private equity-backed global businesses and has already invested or committed $4 billion across 37 portfolio companies to date

Goldman Sachs fund raises more than $20 billion for direct lending
Updated On : 30 May 2024 | 12:30 AM IST

Top EV ride-hailer BluSmart seeks $300 million in 3 yrs to expand car fleet

Part of the funding it raises will go toward the company's expansion beyond Delhi and the southern Indian city of Bengaluru. BluSmart will launch in Dubai next month with about 100 Audi EVs

Top EV ride-hailer BluSmart seeks $300 million in 3 yrs to expand car fleet
Updated On : 28 May 2024 | 9:03 AM IST

Punjab National Bank seeks to close institutional share sale in 6 mths: CEO

Punjab National Bank's board had in December approved a Rs 7,500 crore ($898 million) fund raise through equity capital

Punjab National Bank seeks to close institutional share sale in 6 mths: CEO
Updated On : 10 May 2024 | 2:09 PM IST

Parseable raises $2.5 mn in seed round to expand log analytics services

Bengaluru-based company specialises in processing huge amounts of data generated by information technology systems

Parseable raises $2.5 mn in seed round to expand log analytics services
Updated On : 07 May 2024 | 2:05 PM IST