Fundraising

Ola's AI arm Krutrim cuts fundraising target by $200 mn amid low interest

Bhavish Aggarwal's AI venture Krutrim has reduced fundraising target from $500 million to $300 million, as broader investor interest appears to be tepid

REC raises Rs 2,625 crore through 15-year bonds at coupon rate of 7.02%

Market participants noted that spreads on AAA-rated corporate bonds have tightened considerably in April compared to previous months

Companies raise record Rs 1.33 trn through QIPs in FY25 amid market boom

Indian companies achieved a record-breaking fundraising of Rs 1.33 lakh crore through Qualified Institutional Placements (QIPs) in FY25, registering a sharp increase from the previous year, as a booming stock market fuels aggressive capital raising. India Inc has raised Rs 1,33,251 crore till March 31, marking an 87 per cent increase from Rs 71,306 crore garnered in FY24, according to data compiled by Prime Database. Companies leveraged buoyant equity markets to strengthen balance sheets and fund expansion, a key driver of the surge in QIP fundraising, analysts said. As per the data, 85 companies have tapped the capital markets with QIP issues till March 31, 2025 as compared with just 64 companies during the last financial year. "FY25 witnessed the highest-ever QIP fundraising in the history of Indian capital markets, both in terms of volume and value," Neha Agarwal, MD & Head of Equity Capital Markets at JM Financial, told PTI. Agarwal attributed the surge in QIPs to a broader ..

Despite market volatility, corporate fundraising at record high in FY25

Public equity fundraising stood at Rs 3.71 trillion in FY25, marking a 92 per cent rise from Rs 1.9 trillion in FY24

Lighthouse Canton plans $150-$200 mn second VC fund, eyes India growth

This comes after closing its first VC equity fund at $50 million and an ongoing second close for its $75 million venture debt fund

Govt's divestment plan to push fundraising activities in FY26: Emkay Global

The government's divestment plan is likely to provide a push to fundraising in FY26 as the recent market correction has slowed down deal-making activity, Emkay Global Financial Services said on Thursday. Addressing a webinar on the state of affairs of the Indian investment banking industry, Yatin Singh, CEO of investment banking at Emkay Global Financial Services, said the public sector is turning out to be material client for investment banks in India with the Department of Investment and Public Asset Management (DIPAM) setting a divestment target of Rs 47,000 crore for FY26. "This is a huge opportunity for investment banks in FY26 and beyond," he said. Over the past three years, the initial public offers (IPOs) of LIC, IREDA, and the offer for sale (OFS) of ONGC, IRCTC, HAL, Coal India, RVNL, NHPC, Hudco, Ircon, and Cochin Shipyard have kept the deal street buzzing within the PSU segment. Looking ahead, the upcoming IPOs of Bharat Coking Coal, Central Mine Planning and Design ...

Gensol Engineering to raise Rs 600 cr via FCCBs, promoter warrants

Gensol Engineering on Thursday announced plans to raise Rs 600 crore through the issuance of foreign currency convertible bonds and warrants. The move aims at achieving sustainable growth, reducing debt, and maximising value for its stakeholders, the company said in an exchange filing. The Board of Directors, in its meeting held earlier today, has approved fundraising initiatives amounting to Rs 600 crore, aimed at significantly enhancing its financial standing, the company said. While Rs 400 crore will be raised through the issuance of Foreign Currency Convertible Bonds (FCCBs), and Rs 200 crore by issuing warrants to promoters. Currently, Gensol Engineering has a debt of Rs 1,146 crore against reserves of Rs 589 crore, resulting in a debt-equity ratio of 1.95. After the Rs 600 crore fundraise, the company's reserves are expected to increase to approximately Rs 1,200 crore. With Rs 615 crore of divestments underway, the company's debt will be reduced to approximately Rs 530 ...

OpenAI co-founder Sutskever's startup to raise funds at $30 bn valuation

Greenoaks Capital Partners, a San Francisco-based venture capital firm, is leading the deal for the startup, Safe Superintelligence, and plans to invest $500 million

TrueFoundry secures $19 million to transform AI deployment at scale

The Series A funding will allow TrueFoundry to accelerate its mission towards building a universal platform to develop and deploy AI applications with zero infrastructure hassles

Fintech firm Cashfree Payments raises $53 mn in fresh funding round

The company claims to process transactions worth $80 billion annually. It has a base of 8,00,000 merchants, including internet startups and enterprises

NaBFID raises Rs 5,000 crore via 15-year bonds at 7.25% cut-off rate

The cut-off for 'AAA'-rated issuers' long-term issuance has moved up in the last few months, market experts said

Aditya Birla Housing Finance raises Rs 830 cr funding from IFC through NCDs

Aditya Birla Housing Finance Limited (ABHFL), a wholly owned subsidiary of Aditya Birla Capital, on Wednesday said it has raised Rs 830 crore in funding through Non-Convertible Debentures (NCDs) from the International Finance Corporation (IFC). The funds raised through IFC's investment will be utilised to address critical gaps by providing housing loans to low-income and middle-income groups, with a particular focus on encouraging homeownership among women, the company said in a statement. A portion will also be allocated to supporting MSMEs (micro, small & medium enterprises), especially women-led enterprises, to drive growth and economic progress, it added. This investment aims to enhance financial inclusion, and uplift underserved communities in the affordable housing and MSME sectors, the company said. "This collaboration with IFC marks a key milestone in advancing financial inclusion and equitable growth," said Pankaj Gadgil, MD & CEO of Aditya Birla Housing Finance ...

Union Bank of India to raise up to Rs 20,000 cr to finance infra, housing

Union Bank of India on Wednesday said it plans to raise long-term bonds worth up to Rs 20,000 crore to finance infrastructure and affordable housing. The public sector lender also plans to issue green/sustainable bonds of up to Rs 5,000 crore, it said, announcing the outcome of the meeting of its Board of Directors. On Monday, the bank reported a 28 per cent increase in net profit to Rs 4,604 crore for the third quarter ended December 2024, helped by improved core income. The Mumbai-based bank had earned a net profit of Rs 3,590 crore in the same quarter a year ago. Its total income rose to Rs 31,375 crore in the reporting quarter from Rs 29,137 crore a year ago, Union Bank of India said in a regulatory filing.

Fintech firm Ambak raises $7 million in seed and pre-series A round

The company plans to expand its operations across 35 cities and aims to cater to over 1 lakh customers in the financial year 2025-26 (FY26)

Spencer's Retail plans fundraising post breakeven to enhance valuation

RP Sanjiv Goenka group's retail chain, Spencer's Retail Ltd has signalled its intention to explore fundraising opportunities after achieving breakeven, aiming to enhance valuations and reduce debt, a company official said. The company has already taken board approval for future fundraising and will explore various options at the opportune time, he said. The promoters had in the past indicated that the management was open to induct new investors. "We are looking at a breakeven scenario before we really get into the bandwagon. And in the last 2-3 quarters, specifically, the focus from our board has been to achieve a breakeven, which is led by efficiency and productivity. And now, having demonstrated improved metrics in third quarter, which is a target range of 19.5 per cent gross margin with 13.5 per cent opex, resulting in store EBITDA of 6 per cent, which gives us a breakeven scenario now," the official said. "For us now, we believe that we'll be able to demonstrate this number, an

Kotak Alternate Asset raises Rs 250 cr in first close of Life Sciences Fund

The Kotak Life Sciences Fund aims to deploy capital in early- to growth-stage companies across life sciences, including pharmaceuticals, biotechnology, medical devices and digital health

Ireda board gives green light to Rs 5,000 crore fundraising through QIP

Government's shareholding in Ireda would not dilute by more than 7 per cent of its 75 per cent stake in the firm, the company said

BoB raises Rs 5,000 crore through 10-year infrastructure bond at 7.23%

IRFC raises Rs 2,780 crore at 7.25% for 10-year bonds

US cos rush to bond mkt in fundraising flurry, may raise $65 bn this week

Syndicate bankers expect to see companies raising nearly $65 billion this week, and perhaps as much as $200 billion this month, in a bond issuance spree that is showing no sign of slowing

EMO Energy raises $6.2 million in Series A led by Subhkam Ventures

The company will utilise the raised funds to scale its two-wheeler energy solution to over 1 lakh vehicles over the next two years while advancing the deployment of 1 GWh of energy storage