Page 15 - Fundings

Tesla veteran Jay Vijayan's startup Tekion secures $200 million funding

Automotive software platform gets backing of Dragoneer Investment Group at a valuation of $4 billion

Fintech firm Partior raises $60 mn Series B round led by Peak XV Partners

Partior, which has global unified ledger-based interbank rails for real-time clearing and settlement, will use the funds to support its international network growth

Funding into AI-focused startups more than doubles to $24 bn in Q2

Overall startup funding grew 16% sequentially to touch $79 bn in last quarter, primarily driven by investments in AI, which became largest sector for first time, followed by healthcare and biotech

Allcargo Gati raises Rs 169.28 cr by issuing equity shares via QIP

The fresh capital secured after fund-raise committee of company's board has approved the issue and allotment to successful qualified institutional buyers at the issue price of Rs 101 per equity share

India Cements denies rumours of Rs 500 cr funding talks with BofA, Nomura

News report of funding talks emerged after UltraTech Cement announced its plans to acquire over 70 million shares in India Cements

Private equity major Bain Capital to allocate 20% of Asia fund to India

Bain-owned Tyger Capital targets 4x growth in book to Rs 15,000 cr

Rare disease patients ask for sustained funding from health ministry

LSDs are primarily treated with Enzyme Replacement Therapy (ERT), which is a lifelong treatment and can cost anywhere between Rs 17 lakh to Rs 50 lakh depending on the weight of the patient

HUDCO raises $200 mn from overseas lenders for its foray into loan market

Housing and Urban Development Corporation (HUDCO) has raised USD 200 million (JPY 30 billion) in its maiden foray into the syndicated loan market, its arranger said on Tuesday. The state-run body has raised the five-year money as part of its inaugural "social loan", Japan's Sumitomo Mitsui Banking Corporation (SMBC) said. The deal, led by SMBC's Singapore branch, saw an oversubscription with a total of nine lenders, and was upsized from its original launch size of JPY 15 billion to JPY 30 billion after exercising the greenshoe option, an official statement said. The inaugural social loan will enable further expansion of HUDCO's social housing platform to improve the quality of life for the Indian community and enhance infrastructure facilities in urban areas, the statement said. SMBC acted as the sole mandated lead arranger, book runner and social loan coordinator. "We look forward to expanding our reach to the underserved communities and strengthening the local community's access

The Pant Project raises $4.25 mn in series-A round led by Sorin Investments

The D2C fashion brand plans to double down on its omnichannel retail strategy and cross Rs 100 crore in revenue within the next 18-24 months

Fundraising through SME IPOs in the first half of 2024 touches Rs 3,000 cr

Record-breaking fundraising in first half since SME option debut

Shriram Finance raises $468 million multi-currency funds as social loans

The fund raise is closely on the heels of a previous transaction where the company raised $404 million

REC board approves raising borrowing limit in foreign currency to $24 bn

State-owned REC Ltd on Friday said its board has approved raising the borrowing limit in foreign currency to USD 24 billion form USD 20 billion. The overall borrowing limit in Indian rupees was however retained at Rs 6 lakh crore, the company said in an exchange filing. The board of directors at its meeting held on Friday approved "proposal of retaining the overall borrowing limit of the company in INR at Rs 6,00,000 crore and increase the borrowing limit in any foreign currency equivalent from USD 20 billion to USD 24 billion..." The board also approved raising up to Rs 1,45,000 crore through private placement of unsecured/secured non-convertible bonds/debentures. The funds will be raised, in one or more tranches, from time to time, during one year from the date of passing of resolution by the shareholders in the ensuing annual general meeting. Besides, it approved appointment of Harsh Baweja as Director (Finance) (Additional Director) and Chief Financial Officer of REC with effe

Canara Bank board okays fund raising of Rs 8,500 cr through bonds in FY25

State-owned Canara Bank on Friday said the board of the bank has given approval for raising Rs 8,500 crore through bonds to fund business growth in 2024-25. The decision in this respect was taken in a meeting held on Friday. The board of the bank has approved raising Capital through Basel III Compliant Additional Tier I Bonds to the extent of Rs 4,000 crore subject to market conditions and necessary approvals, Canara Bank said in a regulatory filing. Besides, it approved raising funds through Basel III Compliant Tier II Bonds to the extent of Rs 4,500 crore, it said.

Sportswear brand TechnoSport raises Rs 175 crore from A91 Partners

Sportswear brand TechnoSport on Friday said it has raised Rs 175 crore from A91 Partners, an early growth equity fund. This fresh capital will help TechnoSport enhance its manufacturing capabilities, focus on digital brand building, and amplify its marketing activities, the Bengaluru-headquartered firm said in a statement. "The funding will also support the expansion of TechnoSport's sales and distribution channels, helping the brand reach a wider audience," it said. The Indian sports apparel market was valued at USD 673.34 million in 2022 and is expected to reach USD 1,926.10 million by 2029, with a CAGR of 16.2 per cent. Over the past three years TechnoSport, which aims for 10 per cent of the Indian activewear market, has maintained an average growth rate of between 30-40 per cent, it said. TechnoSport CEO Puspen Maity said this fresh infusion of capital marks a pivotal moment in the company's growth journey, enabling to accelerate expansion on multiple fronts. "With this suppo

Adani Enterprises gets board nod to raise Rs 16,600 crore via QIP

The proceeds will be used by Adani Enterprises Ltd (AEL) for its various projects, including the expansion of airports

Indya raises Rs 50 crore funds from Sangita Jindal, JSW, others

Three fourths of the funding is equity infusion for a minority stake, while the rest is debt, Indya's co-founder Shivani Poddar said

Adani Energy Solutions board approves fundraising of up to Rs 12,500 crore

Adani Enterprises last week also announced that the company's board of directors will meet on Tuesday

Oyo withdraws IPO papers for second time, opts for private placement

"The refinancing will result in material changes to Oyo's financial statements. Hence as per existing regulations, it will need to revise its filings with the regulator," the source said

Oyo eyes equity from private investors at valuation of up to $4 bn: Founder

Private investors have approached travel tech platform OYO and it may raise equity at a valuation of up to USD 4 billion, Founder Ritesh Agarwal told employees in a townhall on Wednesday, sources said. The IPO-bound firm, backed by Softbank, had its maiden net profitable year, posting a profit after tax (PAT) of Rs 99.6 crore (USD 12 million) in the 2023-24 financial year. It also reported an adjusted EBITDA of Rs 888 crore (USD 107 million) for the full fiscal year, up from Rs 274 crore (USD 33 million) in FY23, sources said, citing a presentation shared in the townhall. Oravel Stays Ltd, the operator of the travel-tech company OYO, will refile its initial public offering (IPO) documents with the Securities and Exchange Board of India (Sebi) after the refinancing of its USD 450 million Term Loan B (TLB) at a lower interest rate, PTI reported last week. "OYO has also been approached by friendly investors and may do a small equity round at a USD 3-4 bn valuation, or at Rs 38-45 per

RBI's draft project funding norms may create funding challenge: CareEdge

Reducing debt by 20% is seen as positive for demand-based projects, lowering risks from large repayments and refinancing