Page 12 - Fundraising

Blue Star launches QIP to raise Rs 1,000 cr, floor price at Rs 784.55

Leading cooling products maker Blue Star on Monday launched its qualified institutions placement (QIP) offer with a floor price of Rs 784.55 per equity share to raise Rs 1,000 crore to support its growth plans. The floor price is 2.04 per cent lower than Rs 800, the price on which the scrips of Blue Star closed on BSE on Monday. The Executive Management Committee at its meeting held on Monday considered and approved the issue's opening on September 18, 2023. It also approved "the floor price for the Issue, being Rs 784.55 per Equity Share, based on the pricing formula, as prescribed under the SEBI ICDR Regulations". The equity shares have a face value of Rs 2 each, according to a regulatory filing by the company. Moreover, in accordance with the approval of the shareholders accorded through a special resolution on September 15, 2023, "the company may at its discretion offer a discount of not more than 5 per cent on the floor price so calculated for the Issue", it added. A meeting

JSW Infra's IPO to open on Sept 25, comprises fresh issue of Rs 2,800 cr

JSW Infrastructure's issue will conclude on September 27, while the bidding for the anchor investors will open on September 22, according to the Red Herring Prospectus

JSW Infra's IPO to open on Sept 25, comprises fresh issue of Rs 2,800 cr

JSW Infrastructure's issue will conclude on September 27, while the bidding for the anchor investors will open on September 22, according to the Red Herring Prospectus

Reliance Retail in talks to raise $1.5 billion from existing investors

The talks are a part of the company's internal target to raise $3.5 billion by the end of September this year

Siddhanta Medicity partners with UK firm to raise $108 mn for cell therapy

Bhopal-based healthcare institution Siddhanta Medicity looks to raise around USD 108 million (around Rs 826 crore) in partnership with a UK-based firm for advancing clinical research and development in the field of cell therapies, a release said on Saturday. The investment of USD 108 million will play a pivotal role in establishing stem cell research centres, treatment facilities, and advanced laboratories, Dr. Subodh Varsheny, the managing director of the Bhopal-based health institution said. The institution has tied up with UK-based SRAM &AM Group to raise funds to advance clinical research and development in the field of NK Cell and Mesenchymal Stem Cell Therapies, the statement said. The SRAM &AM Group has also tied up with biopharmaceutical company Cellaax, which is engaged in the research and development of advanced cellular therapy.

Jupiter Wagons gets board's nod to raise Rs 700 crore through QIP route

Mobility solutions provider Jupiter Wagons Limited (JWL) on Tuesday said it has received the board's approval to raise Rs 700 crore through the Qualified Institutional Placement (QIP) route. The funds will be raised through the issuance of equity shares, with a total value of Rs 700 crore. The move is aimed at bolstering JWL's resources for expansion, subsidiary investments, joint ventures, capital adequacy enhancement, and various manufacturing plans, it said in a statement. "The objective (of raising funds) is to further strengthen the company's financial position and solidify our market presence and leadership position," said JWL Managing Director Vivek Lohia. The funds will also be used to ramp up wagon manufacturing capacity, new foundry plant at Jabalpur wagon facility, expansion of existing foundry plant at Kolkata wagon facility, and backward integration of wagon business, Lohia added.

Inox India files IPO papers with Sebi, with OFS of up to 2.21 cr shares

Cryogenic tank maker Inox India Ltd has filed preliminary papers with capital market regulator Sebi to mop up funds through an initial public offering. The Initial Public Offering (IPO) is entirely an Offer For Sale (OFS) of up to 2.21 crore shares by its existing shareholders and promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. Those offering shares in the OFS are Siddharth Jain, Pavan Kumar Jain Nayantara Jain, Ishita Jain, and Manju Jain. Since the issue is completely an OFS, the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders. Explaining the reason for going public, the company said it is aimed at achieving the benefit of listing equity shares on the stock exchanges and carrying out OFS for the selling shareholders. Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installati

Sebi looking to ease fundraising for NPO firms on social stock exchanges

Taking a step to ease the fundraising by not-for-profit organisations, capital markets regulator Sebi on Tuesday proposed flexibility in the regulatory framework for social stock exchanges. Under the proposal, the regulator has suggested reducing the threshold of the minimum issue size as well as application size for not-for-profit organisations (NPOs). Additionally, it has suggested abolishing the requirement of no pending notice or ongoing scrutiny by Income Tax against NPOs for registration on social stock exchanges (SSEs) and substituting the term social auditor with social impact assessor. Further, NPOs should be permitted to provide past social impact but not strictly as per the format specified by Sebi in their fundraising document, according to a consultation paper. The proposals are aimed at facilitating fundraising by NPOs. A not-for-profit organisation (NPO) is required to be registered with the SSE to raise funds. At present, 31 NPOs have been registered in this segmen

Adani Group takes bond brokers on Guj trip as it gears up to raise $1.8 bn

The Adani Group flew bankers to Mundra port in Gujarat to showcase infrastructure of India's largest private port and elaborate on the conglomerate's strong financial conditions and expansion plans

RenewBuy raises $40 mn from Japanese insurance major Dai-ichi Life Holdings

InsurTech firm RenewBuy on Thursday said it has raised USD 40 million (around Rs 332 crore) in a funding round from Japanese insurance major Dai-ichi Life Holdings Inc. It is part of the company's ongoing Series D fund raise, which is attracting interest from several marquee investors and is expected to close soon, RenewBuy said in a statement. RenewBuy's technology is used by more than 1,00,000 advisors across life, health and motor insurance firms to compare product features and prices before issuing policies on the spot, it said. The company works with more than 40 insurers and has more than 5 million consumers, it added.

Adani group plans to raise Rs 1,498 cr via Indian bond market: Report

Adani Airport Holdings and Adani Ports and Special Economic Zone may tap the market first, with offerings of around 10-15 billion rupees

Indian debt collection startup raises $50 million from Accel, Westbridge

Lenders are looking for efficient ways to communicate with borrowers and collect payments, a task that becomes more onerous in countries such as India that are experiencing rising credit growth

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