Page 13 - Fundraising

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

Fintech firm BankBazaar.com plans to go public in next 12-18 months

Fintech firm BankBazaar.com on Tuesday said it plans to go public in the next 12-18 months. The company had a net revenue of Rs 160 crore in FY23. The Initial Public Offering (IPO) plans are in progress with an aim to list in 12-18 months, co-branded credit card issuer BankBazaar.com said in a statement. Prior to the IPO, BankBazaar is planning to raise a round of capital and has appointed ICICI Securities to advice it on the same. The company grew its net revenue for FY23 by 60 per cent over FY22 on the back of a 60 per cent growth in its credit card issuances. The growth was driven by its completely paperless and contactless offering of digital-first, co-brand credit cards in partnership with leading banks that enable consumers to track and improve their credit score, earn rich digital rewards, and access hundreds of no-cost EMIs every month, BankBazaar.com said. Adhil Shetty, Co-Founder and CEO of BankBazaar.com, said riding on a 60 per cent growth momentum in FY23 while narro

HDFC Bank says it will raise $6 billion in debt over next one year

The proposed fund raise would be by issuing perpetual debt instruments, or Additional Tier-1 (AT-1) bonds, Tier-II capital bonds and long-term bonds, the bank said in an exchange filing

SP Group firm to raise $1 billion to repay debt, fund India operations

Armada 98/2 Pte was set up as a joint venture to provide offshore marine oil and gas services in response to ONGC's KG-DWN 98/2 tender

IKF Finance raises Rs 250 cr from Accion's Digital Transformation Fund

IKF is among the few lenders to have grown consistently and delivered profits across economic cycles. Despite Covid and other macro headwinds, IKF has grown by as much as 40% in the past few years

Venture debt platform Blacksoil announces raising $25 mn in fresh capital

Company says it start-ups looking for support amid funding winter are turning to venture debt

B2B apparel platform Zyod raises $3.5 mn in seed funding from Lightspeed

FJ Labs, Panthera Peak Capital, and select angels also participated

The Souled Store raises Rs 135 cr from Xponentia, mulls IPO in next 3-4 yrs

The firm will use the fresh capital to expand into new product categories and launch over 100 stores pan India within the next 2 years