Page 12 - Fundraising

Internet, telecom start-up Wiom raises $17mn for expanding business

Company gives customers unlimited internet starting at Rs 10, taps into government's PM-WANI framework

Private fundraising in Asia Pacific may hit 10-year low, says Preqin

Funds raised in the region in the first half of 2023 accounted for 22% of last year's total, Preqin analysts wrote in a quarterly report

Federal Bank board to consider fundraising via issue of preference shares

Lenders plans issuing 72.6 mn such shares to International Finance Corporation

Netweb Technologies India raises Rs 189 crore from anchor investors

Nomura Funds, Goldman Sachs Funds, ICICI Prudential MF, HDFC MF and Nippon MF were among those who got an allotment

Adani aims to close planned $4 bn fundraising by end-December: Report

The Adani Group is aiming to close the fundraising before end 2023, said the source, who declined to be named as the discussions are private

Sundaram Alternates launches Rs 1,500 cr realty private credit fund

Sundaram Alternates, an arm of Chennai-based Sundaram Group, on Thursday launched its fourth high-yield credit fund with a corpus of Rs 1,500 crore. The new fund seeks to raise Rs 750 crore with a green shoe option worth Rs 750 crore, taking the aggregated target size to Rs 1,500 crore. The fund will focus on sub-Rs 100 crore deals, which offers fund diversification as well as attractive risk-rewards, Vikaas M Sachdeva, managing director of Sundaram Alternates, said. The fund will target gross deal returns ranging between 18 per cent and 22 per cent on a senior secured basis, Karthik Athreya, a director and head of strategy at the company, said. Sundaram Alternates has so far deployed over Rs 2,000 crore over the past seven years. The Sundaram Alternative opportunities high yield secured real estate fund - IV is designed to provide investors access to a diversified portfolio of secured realty investments, with a focus on self-liquidating residential projects across key Southern ...

Proptech firm Reloy raises Rs 7.2 cr from investors to grow business

HDFC Capital-backed proptech firm Reloy, which helps realtors in generating referral sales, has raised Rs 7.2 crore from investors to expand its business. In a pre-series A2 funding round, Reloy (earlier known as Loyalie) said all the existing investors participated along with new investors like BlueLotus VC and Dream Green Capital. The investment will be used to fuel the company's growth and expansion plans, the company said. In February last year, the company had raised Rs 5.9 crore from investors, taking the total external funding to over Rs 13 crore. "India is now the world's most populated nation with only the 7th largest land mass. We need our builders to create the largest cities the world has ever seen. It's time we empowered good builders with our referrals," Reloy founder and CEO Akhil Saraf said. "Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home .

IPO fundraising shrinks, block deals robust during first half of CY23

So far in 2023, 7 companies have completed their IPOs and raised a cumulative Rs 6,910 crore. By comparison, 16 companies had raised a record Rs 40,310 crore during the same period last year

Gaming-focused VC firm Lumikai launches second fund worth $50 mn

Fund will take bets in pre-seed to series A start-ups with an average ticket size ranging between $200,000 and $1.2 mn

Pak defiant, allows fundraising to promote terror, facilitates infiltration

Pakistan's removal from the Financial Action Task Force's (FATF) Grey List in October 2022 came with the assurance that it would fall in line and cease support for terrorism

IND Renewable Energy board approves Rs 26 cr fundraising via rights issue

IND Renewable Energy Ltd on Wednesday said it is planning to raise Rs 26 crore through a rights issue. A decision in this regard was taken at a meeting of its board members, IND Renewable Energy Ltd said in a regulatory statement. "This is in modification of our earlier communication where we had conveyed the proposal approved by the board to raise the fund up to Rs 15,00,00,000. We wish to inform you that the Board of Directors of the company at their meeting held today i.e. June 14, 2023, have, in principle, considered and approved the proposal to raise the fund up to Rs 26,00,00,000 by way of right issue," it said. The terms of the issue will be decided by the board later, the statement said.

Everest Fleet raises $20 mn led by Uber, to expand operations, supply pool

Fleet management company Everest Fleet on Wednesday said it has closed a $20 million funding round led by Uber

IIFL Finance keen to raise more funds through bond market, says CFO

As on March 31, the company's total borrowing stood at nearly 40 billion rupees ($485.07 million). Its borrowing mix currently comprises 60% from banks, 20% from the bond market

India's IPO mop-up so far sees sharp drop versus global peers in 2023

Domestic market share in amount raised globally falls to 0.9% versus five-year average of 2.9%

Byju's raises $250 mn from Davidson Kempner Capital at $22 bn valuation

Edtech major BYJU'S is learnt to have closed USD 250 million fundraising from Davidson Kempner Capital and is in the process to close another funding round of USD 750 million by the end of this month, sources aware of the development said on Friday. The company has raised USD 250 million at a flat valuation of USD 22 billion, sources said. "BYJU'S has successfully closed a USD 250 million fundraising from Davidson Kempner Capital Management. This round is part of an ongoing USD 1 billion funding round that has attracted participation from both existing and new investors and will be raised at the current valuation of USD 22 billion," a source aware of the development told PTI. BYJU'S declined to comment on the development. The company raised USD 250 million from existing investors and Qatar Investment Authority in October last year. The company was valued at USD 22 billion in the funding round of USD 800 million, announced in March 2022. "BYJU'S is in the process to close another

PE firm Multiples closes its Fund IV, subscriptions worth $640 mn received

Multiples Fund IV brings together leading global institutional investors like CPPIB and IFC, local institutions like SBI and private insurance companies, and leading domestic family offices

Green hydrogen firm Ohmium closes $250 million Series C fundraise

The funding will be used to support Ohmium's expansion to 2 GW in annual manufacturing capacity and the deployment of projects for the company's growing global customer pipeline in key regions

Apollo pitches investors on deal to ease industrywide fundraising slump

The firm pitched it as a way to ease clients' liquidity pressures, according to people familiar with the matter

Power giant NTPC to raise Rs 3,000 cr via non-convertible debentures

State-owned power giant NTPC on Wednesday said it has decided to raise Rs 3,000 crore by issuing non-convertible debentures on a private placement basis. "NTPC has decided to issue unsecured non-convertible debentures of Rs 3,000 crore on April 17, 2023, through a private placement at a coupon of 7.35 per cent per annum for a tenor of 3 years, maturing on April 17, 2026," a BSE filing said. The proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes, it stated. The debentures are proposed to be listed on NSE. Debenture Trust Deed will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein. These debentures are being issued under the recommendation of board resolution on July 29, 2022, and subsequent approval obtained through shareholders' resolution on August 30, 2022. This is the second issue of debentures under t

PhonePe raises another $100 mn to expand into lucrative lending space

With the latest round, PhonePe, India's most valuable payments firm with an estimated value of $12 billion, has raised $650 million across four tranches from its backers, including Tiger Global