Page 6 - Fund Raising

PAG-backed Nuvama eyes Middle East for $400 million for first time

Nuvama also expects to raise another $100 million from the region for a new public equities long-short product

L&T board approves a proposal to raise funds worth Rs 7,500 crore

L&T added, these funds would be raised in the form of external commercial borrowings, term loans, non-convertible debentures, or any other instrument as may be appropriate

Shapoorji Pallonji Group seeks up to $2.4 bn from lenders to refinance debt

The group, controlled by Indian billionaire Shapoor Mistry, has reached out to Power Finance for up to Rs 15,000 crore, the largest chunk in the planned fundraising, the people said

Liquidnitro Games raises $5.25mn in seed round led by Nexus Venture

Hyderabad-based company will use money to build studio, invest in technology, strengthen production pipelines

Infra lender NaBFID considers bond sale to raise up to $4.8 billion

NaBFID, as the institution is called, is likely to sell bonds with tenors spanning from 10 to 20 years in the financial year starting April 1, the people said

Coforge slips 5% as board approves Rs 3,200 crore fund raise

In the past one month, the global digital services and solutions provider's stock has underperformed in the market falling by 14 per cent. In comparison, the S&P BSE Sensex was down by 0.04 per cent

IndiGo co-founder Gangwal raises $820 mn in largest block sale since 2019

It's the fourth time within two years that the co-founder has tapped investors through a block sale of IndiGo shares, according to data compiled by Bloomberg

LIC Housing Finance plans to raise funds via green bonds in next fiscal yr

LIC Housing Finance, the mortgage arm of insurance behemoth LIC, plans to mobilise funds through green bonds in the coming financial year with an aim to finance environmentally-sustainable housing projects. "Green financing is something that we will look at the next year and we would deploy the fund for financing green housing projects," LIC Housing Finance MD and CEO Tribhuwan Adhikari told PTI in an interaction. LIC Housing Finance will have its board meeting on March 7 to consider and approve the borrowing plan for 2024-2025 through loans or issue of redeemable non-convertible debentures, zero couponed bonds, subordinate debt, Tier II bonds or any other means approved by the regulator. Adhikari said the company hopes to hit the net profit of Rs 5,000 crore-milestone by the end of current financial year on the back of robust loan demand and expansion in non-core business. The non-core businesses include Loan Against Property (LAP) and affordable housing finance, he ...

IPO craze: Three firms to collectively raise Rs 1,325 crore next week

The primary market will see a flurry of activity in March, with at least three companies including Gopal Snacks will float their initial public offerings (IPOs) in the upcoming week to raise Rs 1,325 crore collectively. The other two companies which are set to launch their maiden public issues are -- RK Swamy and JG Chemicals. Additionally, Bengaluru-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers. Market experts attributed the bustling IPO activity to various factors, including impressive post-listing returns from recent public offerings and the robust macroeconomic conditions. So far this year, 16 companies launched their IPOs to mobilise Rs 13,000 crore, while Rs 224-crore initial share-sale of Mukka Proteins is slated to conclude on March 4. This came after 58 maiden public issues initiated in 2023 to garner Rs 52,637 crore. This included the Rs ...

Tata Capital plans to raise $750 mn in debut foreign funding next fiscal yr

"For overseas borrowings, we may also evaluate dollar bonds as there has been lot of interest by overseas investors in Indian corporates."

Vodafone Idea soars 9% on fund raising plan; Indus Towers up 5%

The company's board is scheduled to meet on February 27 to consider fundraising via equity or debt instruments.

SpiceJet raises additional Rs 316 crore through preferential share issue

SpiceJet on Thursday said it has secured an additional Rs 316 crore, taking its total funds raised to Rs 1,060 crore through a preferential share issue. The fresh capital infusion in the struggling airline comes amid its recent announcement of slashing its workforce by 10-15 per cent. In January SpiceJet had received Rs 744 crore as the first tranche of funds through the allotment of securities on a preferential basis. On December 12, the airline had said it would raise fresh capital of Rs 2,250 crore through issuance of securities. "SpiceJet has raised an additional Rs 316 crore, bringing the total investments raised to Rs 1,060 crore under its preferential issue," the airline said in a statement. It added, "The Preferential Allotment Committee of SpiceJet's Board Directors convened on February 21, 2024, approved the allotment of 4.01 crore equity shares on a preferential basis to two investors, including Aries Opportunities Fund Limited." The committee also sanctioned the allot

Hudco plans to raise up to Rs 23,000 crore to fund infra projects

It raised Rs 5,476 crore through medium-term loans, Rs 2,782 crore through short-term credit, and Rs 1,500 crore via taxable bonds in April-December 2023

Cactus Venture Partners raises Rs 630 cr fund to invest in startups

Cactus Venture Partners on Wednesday announced that it has raised Rs 630 crore for its maiden fund to invest in early growth stage startups. This is the final close for the fund, which will invest in climate technology, health technology and business-to-business software as a service company backed by purpose-driven entrepreneurs. CVP will focus on Series A and early Series B fundraising stages, targeting companies that have established Product-Market Fit (PMF), a statement said. The statement said 60 per cent of the capital commitments have come from domestic sources, while the remaining are from international limited partners from the US, Singapore, EU, and the UK. Domestic backers include SIDBI, Self-Reliant India Fund, and the UP Startup Fund, it added. Its general partner Rajeev Kalambi said the support received underscores the growing confidence in the Indian startup ecosystem. The current portfolio includes five companies, and CVP is targeting to make an additional 8-10 .

IT products distributor Rashi Peripherals to open Rs 600 cr-IPO on Feb 7

Rashi Peripherals, an information and communications technology products distributor, is set to float its Rs 600 crore-Initial Public Offering (IPO) on February 7. The issue will conclude on February 9 and the bidding for anchor investors will open for a day on February 6, according to the Red Herring Prospectus (RHP). The public issue is a completely fresh issue of equity shares to the tune of Rs 600 crore with no offer-for-sale component. Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes. Mumbai-based Rashi Peripherals Ltd caters to brands like ASUS Global Pte. Ltd, Dell International Services India, HP India Sales and Lenovo India. The company aims to expand its geographic presence in non-metro cities, which includes tier I and tier II cities and other rural geographies which are becoming centres of consumption for ICT products such as personal computers, ..

Grow Indigo raises $8 mn to drive future of sustainable agriculture

Sustainable agriculture company Grow Indigo on Sunday said it has raised over USD 8 million (around Rs 67 crore) in a funding round with a cumulative capital raise of more than USD 23 million (around Rs 191 crore) to date. The round saw interest from investors globally including participation from Indigo Ag, Mahyco and individuals and the fund raised will be utilised for driving the future of sustainable agriculture, the company said in a statement. Grow India is a joint venture between Indigo Ag and Mahyco that was formed in 2018. The company operates a carbon farming platform for smallholder farmers in India that includes four carbon programs across 13 states and cumulatively aims to reduce or remove emissions by 20 MT of CO2 annually from agriculture. About 8,00,000 acres have already been enrolled in the company's programs. "With sustainability at its core, we have now demonstrated adoption of biological inputs and carbon solutions at scale by farmers," Grow Indigo Executive .

Fund raising plan: SpiceJet receives first tranche of Rs 744 crore

SpiceJet, which has been facing multiple headwinds, on Friday said it has received Rs 744 crore as the first tranche of funds being raised through allotment of securities on a preferential basis. On December 12, the airline had said it would raise fresh capital of Rs 2,250 crore through issuance of securities. According to a release, on January 25, the company's board of directors approved the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers. The airline has allotted shares and warrants totalling Rs 744 crore on a preferential basis in the first tranche. The board has also approved the allotment of 9.33 crore warrants to Elara India Opportunities Fund Ltd and Silver Stallion Ltd. Meanwhile, the airline has requested for additional time from the competent authority to complete the process under the ongoing preferential issue, as per the release. The extension has been sought due to limited banking days arising from long weekends during the intervenin

Rashi Peripherals raises Rs 150 cr pre-IPO from institutional investors

The round saw participation from institutional investors such as Volrado Venture Partners Fund and Madhuri Madhusudan Kela

Battery maker IBC raises $35 mn to fund manufacturing expansion in India

Company says it is developing products are safe at high temperatures and have a longer life

Tata unit Agratas in India in talks for green loan of up to $500 million

The wholly owned subsidiary of Tata Sons Pvt Ltd develops battery cells, with factories in India and the UK. Its facilities are designed to be powered by clean energy, according to company's website