Page 7 - Funding

The Ayurveda Experience secures $27 mn in funding led by Jungle Ventures

The funds would help firm ramp up customer engagement on its platform, invest in product R&D

NCLT asks Byju's to keep funds via rights issue in escrow account

NCLT has also directed Byju's to consider the extension of the closure date of the rights issue

'Urgent need for climate risk evaluation rules, more adaptation funding'

India is yet to create a common framework for evaluating risks due to climate change and a systematic methodology for ascertaining the extent to which development programmes address climate risk and vulnerability, according to a new report released on Wednesday. The report by Climate Policy Initiative, a multi-national analysis and advisory organisation with expertise in finance and policy, said the lack of a common framework for evaluating climate risks makes it hard to tell how development projects address these issues, and to track funding for adaptation measures. Despite these challenges, it said, there is a growing push for climate adaptation action in India, leading to plans, policies, and schemes at national and state levels. However, the focus and progress vary among states. The report titled "Financing Adaptation in India" also highlighted the need for "significant" investment for adaptation (adjusting to the effects of climate change) in the country. An analysis of state

Travel portal Ixigo's parent firm files draft papers with Sebi to float IPO

Le Travenues Technology Ltd, which operates travel booking platform ixigo, on Wednesday filed preliminary papers with Sebi to raise funds through an initial public offering. The Gurugram-based company's Initial Public Offering (IPO) will be a combination of fresh issue of equity shares worth Rs 120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares by existing shareholders, according to the Draft Red Herring Prospectus (DRHP). SAIF Partners India IV Ltd, Peak XV Partners Investments V (formerly known as SCI Investments V), Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, Aloke Bajpai and Rajnish Kumar will be selling shares through the OFS. Proceeds worth Rs 45 crore from the fresh issue will be used to fund the company's working capital requirements and Rs 26 crore will be utilised for investments in technology as well as data science, including on cloud and server hosting, technology on artificial intelligence and customer

Tata Capital to raise Rs 20K crore via NCDs to boost core lending biz

Tata's Financial Services arm plans to launch NCDs as demand for retail loan rises

Exim Bank looks to raise up to $1 billion in FY24 for commercial lending

The liquidity is comfortable in the international market, and the conditions are better for Indian entities than a few months ago in terms of raising resources, Bangari said

Anarock raises Rs 200 cr from 360 One Asset Management for biz expansion

The funding aims to enhance Anarock's technology infrastructure, accelerate its expansion, and introduce innovations to strengthen its leadership in the Indian real estate services sector

Opec Fund delivers record results with $1.7 bn in development funding

The organisation was established 48 years ago and the 2023 results represent a record in new commitments

Corporate funding in solar sector touches decade high of $34.3 bn: Report

Global corporate funding in solar sector rose 42 per cent to USD 34.3 billion in 2023, supported by "favourable policies worldwide" and focus on energy security, according to Mercom Capital. The total corporate funding includes venture capital (VC) funding, public market, and debt financing, the research firm said in a report on Monday. The USD 34.3 billion in 2023 is the highest in a decade, the 'Mercom Annual and Q4 2023 Solar Funding' report said. "The total corporate funding... into the solar sector, increased 42 per cent year-over-year (y-o-y) in 2023, with USD 34.3 billion raised in 160 deals, compared to USD 24.1 billion in 175 deals in 2022," it said. The funding in the sector was the highest in a decade despite high-interest rates and challenging market conditions, Mercom Capital Group CEO Raj Prabhu said, adding solar continues to attract significant investments driven by the Inflation Reduction Act (an act of the US), the global focus on energy security, and favorable ..

REC to collaborate with NIIFL for financing renewable, infra projects

State-owned REC has inked an initial pact with the National Investment and Infrastructure Fund Ltd for collaborating to finance renewable and large scale infrastructure projects in the country. Both entities have signed a Memorandum of Understanding (MoU) in this regard, according to a statement on Thursday. "The collaboration with REC aligns perfectly with NIIFL's broader strategy to enhance financing and attract private capital into the infrastructure sector. Through this partnership, we aim to develop innovative financial solutions supporting major infrastructure," Prasad Gadkari, Executive Director & Chief Strategy Officer at NIIFL, said.

Alphabet's Moonshot X Lab cuts staff, looks for outside investors

As part of the restructuring, X is laying off dozens of employees, according to one of the people with knowledge of the matter. The layoffs are focused on support staff

Govt cancels foreign funding license of Centre for Policy Research

CPR, a not-for-profit organisation which conducts research on a range of policy issues in India, said it was in "complete compliance" with the law and will seek remedy in every way possible

TCPL to fund 2 acquisitions with cash reserve, bridge financing: MD D'Souza

Tata Consumer Products (TCPL) would fund its acquisitions of Capital Foods Ltd and Organic India Ltd having a combined enterprise value of Rs 7,000 crore, through internal cash reserve and bridge financing, MD and CEO Sunil D'Souza said on Sunday. Both the acquisitions operate in areas which offer "huge runway for growth", where margins are "far accretive" and business is growing at a healthy pace, he said. Besides, TCPL will continue to strengthen its portfolio in the food & beverage segment organically to fill the gaps but it will also scout for inorganic growth opportunities if someone offers a better brand, technology and team, he added. Last Friday, TCPL announced complete acquisition of Capital Foods, which owns brands like Ching's Secret and Smith & Jones, at an enterprise valuation of Rs 5,100 crore and Fab India-backed Organic India, which operates in the health and wellness category, at an enterprise value of Rs 1,900 crore. The Tata Group FMCG arm would fund half of

60% startup founders report increased revenue, profitability in 2023

Navigating 2024, tech startup founders expect to continue the revenue growth path with measured steps, focusing on optimizing expenditure and maximizing profitability for B2B tech startups

M&A activities plunge 51% to $83 bn in 2023 amid funding winter: Report

In line with the global funding winter, deal-making involving domestic firms hit a three-year low after falling 51 per cent to USD 83.8 billion in 2023, saved by the mega-merger of HDFC twins -- the biggest deal in India Inc's history till date, according to an industry report. Excluding the USD 60.4-billion HDFC Bank-HDFC merger, year-on-year deal value comparison would have been down by another 23 per cent, as per LSEG Deals Intelligence, formerly Refinitiv, one of the world's largest providers of financial markets data. The bleak global deal environment translated into fewer mega deals in 2023. As a result, there was only one deal above USD 3 billion in the year -- the HDFC Bank-HDFC USD 60.4 billion deal -- compared to five deals in 2022, Elaine Tan, senior manager at LSEG Deals Intelligence said in a note on Thursday. However, in terms of the volume of deals, it was a minimal 1.7 per cent decline on-year, indicating that a healthier level of mid-market transactions dominated t

Medway Hospitals raises $5m in funding round led by Kyra Ventures

Chennai-based group operates eight multi-multispeciality hospitals that provide range of services

Vedanta Resources' bondholders back company's debt restructuring plan

"The overwhelming consent to the revised terms will take immediate pressure (off) Vedanta to repay the debt obligation," Vedanta Resources said

Jyoti CNC Automation's IPO worth Rs 1,000 crore to open on January 9

Gujarat-based Jyoti CNC Automation's initial public offering worth up to Rs 1,000 crore will open on January 9. It will also be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The company is planning to list its shares for the second time in nearly 10 years. The three-day Initial Public Offering (IPO) of Jyoti CNC will close on January 11, while the anchor book of the offer will be launched for a day on January 8, as per the Red Herring Prospectus (RHP). The price band for the offer is yet to be announced. Last month, the company got approval from markets regulator Sebi to float the public issue. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti CNC Automation is a leading manufacturer of Computer Numerical Control (CNC) machines. Its customers in

Esconet Technologies files draft papers to raise funds through IPO

Integrated IT solutions company Esconet Technologies on Tuesday said it has filed draft papers to mobilise funds through an initial public offering. The initial public offering (IPO) is entirely a fresh issuance of up to 33,60,000 equity shares, with a face value of Rs 10 each, and the shares of the company are proposed to be listed on Emerge platform of the NSE, the company said in a statement. Corporate Capital Ventures is the sole book running lead manager, while Skyline Financial Services is the registrar for the issue. Esconet proposes to utilise the proceeds from the issue towards working capital requirements of the company and invest in its wholly-owned subsidiary ZeaCloud Services to fund its capital expenditure expenses, as per the draft documents. A portion of the proceeds will also be used for the general corporate purposes. Founded in 2012 by second-generation entrepreneurs Santosh Kumar Agrawal and Sunil Kumar Agrawal, Esconet Technologies has been in the business of

Diffusion Engineers files IPO papers, will use funding for expansion

Engineering solutions provider Diffusion Engineers has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial share sale. The initial public offering (IPO) is purely a fresh issue of up to 98,47,000 equity shares with a face value of Rs 10 each, according to the draft red herring prospectus (DRHP) filed on Dec 27. Going by the draft papers, proceeds from the issue will be used by the company towards expansion of its existing manufacturing facility and setting up a new manufacturing facility in Maharashtra. Proceeds will also be used towards funding working capital requirements and general corporate purposes. Incorporated in 1982, Diffusion Engineers engaged in the business of providing engineering solutions to customers in domestic and international markets. The Nagpur-based firm provides a wide range of products and services, including the manufacture of special welding consumables, wear plates and heavy engineering equipment, and provi