Page 8 - Fund Raising

Flurry of IPOs: 5 cos including Tata tech gear up to raise Rs 7,300 cr

The initial public offering (IPO) lane will be busy in November with five companies, including Tata Technologies and Indian Renewable Energy Development Agency Ltd, tapping the primary market next week to raise over Rs 7,300 crore collectively. The other three companies whose maiden public issues are ready to open are Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery India. Together, these five companies are expected to fetch more than Rs 7,300 crore through the IPOs, data from the stock exchanges showed. Before this, three firms -- ASK Automotive, Protean eGov Technologies, and ESAF Small Finance Bank -- launched their public issues earlier this month. Further, IPOs of Honasa Consumer, which owns FMCG brands Mamaearth, and household products and stationery manufacturer Cello World concluded in the first week of the month. V Prashant Rao, Director & Head-ECM, Investment Banking at Anand Rathi Advisors, attributed several factors to the hectic IPO ...

Ahead of electoral bond hearing, Chidambaram slams BJP on fund raising

With the Supreme Court set to commence hearing on a batch of pleas challenging the validity of the electoral bond scheme, Congress leader P Chidambaram on Monday alleged that the BJP has made its intentions clear that it will raise its funds from big corporates in an "opaque, secretive and conspiratorial manner." The BJP hit back at Chidambaram for his remark, saying it is piteous that Congress opposes any attempts made to ensure a more transparent and democratic political funding system. Chidambaram's attack on the BJP came after the Centre contended that the electoral bond scheme for political funding of parties contributes to clean money. Attorney General R Venkataramani told the Supreme Court that citizens did not have the right to information regarding the source of funds under Article 19(1)(a) of the Constitution. In a post on X, Chidambaram said, "On the eve of the hearing of the Electoral Bonds case, the BJP has made its intentions clear. The BJP will raise its funds from b

Ola Electric in 'giga' drive: Rs 3,200 crore to fund its EV business

The funds raised are expected to create an interim event and pave the way for an initial public offering (IPO), which may be in the range of $800 million to $1 billion

Fundraising through corporate bonds decline in October, shows data

According to data from the Prime database, companies and banks raised Rs 23,797 crore as of October 24, compared to Rs 72,941 crore in September

Bank of Baroda to raise Rs 10,000 cr to fund infra, housing projects

Bank of Baroda (BoB) on Wednesday said its board has approved a proposal to raise up to Rs 10,000 crore to fund infrastructure and affordable housing projects. The approval is for raising Long Term Bonds for Financing of Infrastructure and Affordable Housing aggregating to a total size of up to Rs 10,000 crore, in single or multiple tranches during 2023-24 and beyond, if found expedient, BoB said in a regulatory filing. The Reserve Bank of India on Tuesday barred state-owned BoB from onboarding new customers on its mobile app 'bob World' following material supervisory concerns. "The Reserve Bank of India has, in exercise of its power, under Section 35A of the Banking Regulation Act, 1949, directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the 'bob World' mobile application," the central bank had said in a statement. The action, the RBI had said was based on certain material supervisory concerns observed in the manner of onboard

Neobank Zolve raises $100mn in debt facility to offer credit products

Company says it has facilitated transactions worth more than $600 mn since 2021

Insurtech player InsuranceDekho raises $60 mn in Series B funding round

This is the second fundraise for the Gurugram-based startup in 2023, taking its total fundraise to $200 million

Bajaj Fin up 3% as nod for Rs10,000 cr fund raise; here's what analysts say

This capital raise could then be a tacit acknowledgment that Bajaj Finance is readying its capital ammunition for how the competitive landscape is going to evolve over next few years, said analyst.

Bajaj Finance to raise Rs 10,000 crore via QIP, preferential issue

Out of the total, Rs 8,800 crore will be raised via QIP and the remaining Rs 1,200 crore will be via preferential allotment of shares to Bajaj Finserv

Canara Bank raises Rs 5,000 crore at coupon rate of 7.54 % per annum

The Canara Bank has in its maiden issuance of Long Term Infrastructure Bonds raised Rs 5,000 crore at a coupon rate of 7.54 per cent per annum. "The issue received overwhelming response from investors, with bids for more than Rs 14,180 crore against a base issue size of Rs 1,000 crore and green shoe option of Rs 4,000 crore," it said in a statement. The Bank's Long Term Infrastructure Bonds are rated as "AAA/Stable" by CARE Ratings Limited and India Ratings & Research Ltd, it was stated.

Shree Cement to raise up to Rs 700 cr via NCDs on private placement basis

The fundraising plan is expected to be part of the company's Rs 7,000-crore capex plan in the next phase of growth, during which it aims to add an additional 12 million tonnes of capacity

Udaan in talks with existing and new investors to raise $400 million

Amid the funding winter and macroeconomic uncertainty, this funding will result in bolstering the balance sheet of the company and supporting its IPO plans, according to the sources

Global fundraising via IPOs drops 52% in 2023 to $147.2 billion

At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion in the first eight months of 2023 followed by the US and China.

Visa application startup Atlys raises $12 million in series A funding

Investment round led by Peak XV and Elevation Capital

Kuku FM raises $25 mn from investors; aims to expand content, improve tech

Company will use financing to expand its repository of Indian language audiobooks, podcasts, courses

Sidbi to raise Rs 10,000 cr from rights issue to expand equity capital

Small Industries Development Bank of India (Sidbi), which refinances SME loans, plans to float a Rs 10,000-crore rights issue next fiscal to expand its equity capital as it expects to grow assets to Rs 5 lakh crore by March 2024 from about Rs 4 lakh crore in March 2023, a top official has said. The central government owns 20.8 per cent in Sidbi, while State Bank of India holds 15.65 per cent and Life Insurance Corporation 13.33 per cent. The rest of the equity is held by other public financial institutions and banks. The shareholders will subscribe to the proposed rights issue. The lender's loan growth optimism comes from the demand for direct financing that is growing by leaps and bounds, which two years ago was only 7 per cent of its book but is now 14 per cent. Sivasubramanian Ramann, chairman and managing director, said the proposed rights issue will be carried out in two tranches of Rs 5,000 crore each next fiscal to expand its capital base by Rs 10,000 crore and support the ..

SoftBank-backed Arm raises $4.87 billion in biggest IPO of the year

At the IPO price, Arm is valued at about $54.5 billion, according to Bloomberg News calculations. Underwriters have the option of buying as many as 7 million additional shares

Fintech firm Perfios raises $229 mn from Kedaara in Series D funding

Perfios, a B2B SaaS specialist, says investment will help it in 'providing access to financial services'

Wire and cables maker RR Kabel aims to raise $236 million via IPO

The Mumbai-based company, backed by private equity firm TPG, will issue new shares worth Rs 180 crore, as per its prospectus dated Sept. 6

Gaming firm Nazara Technologies to raise Rs 410 cr from SBI Mutual Fund

Company will use investment for growth objectives including strategic acquisitions