Page 16 - Fundraising

More than $100,000 raised for slain Indian dairy worker in NZ's Auckland

More than $100,000 has been raised for the family of an Indian dairy shop worker who was stabbed to death in New Zealand's Auckland last month

Punjab & Sind Bank board to consider fundraise of Rs 250cr on Dec 30

City-based Punjab & Sind Bank on Tuesday said its board will meet on December 30 to consider a proposal for raising up to Rs 250 crore by various modes, including equity and bonds issuance, the bank said on Tuesday. The bank said it plans to raise capital up to an amount and aggregating to Rs 250 crore in any combinations of equity shares or debt in the form on Basel III compliant bonds. The capital will be raised in one or more tranches within a period of 12 months from the date of approval by way of issue of these instruments, the lender said. Punjab & Sind Bank shares closed flat at Rs 32.70 apiece on BSE.

Flexible workspace provider WeWork India raises Rs 550 cr from BPEA Credit

The company said it will use fresh funds for future growth and potential consolidation opportunities

Money View raises $75 mn in Series E by Apis Partners, valued at $900 mn

Founded in 2014, Money View provides personalised credit products and personal financial management solutions

Fund mobilisation through equity, debt routes down 20% to Rs 11 trn in 2022

Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war. "The first half of 2023 could continue to be challenging, largely driven by global macro developments. If the slowdown/recession in the US is mild, then we could see a rally in global markets in the second half of next year, which would aid investor sentiment and the Indian markets as well," said Vishal Chandiramani, Managing Partner Products and COO, TrustPlutus Wealth (India) Pvt Ltd. Even with a bounce back in markets, it will be more difficult to garner funds over the next few years as

Legal tech start-ups have raised $57 mn in funding since 2013: Report

Indian sector has more than 650 firms and is valued at $1.3 bn to be second biggest in the world

Dabur India promoters sell 1% stake through block deal to finance ventures

" The purpose of doing this transaction is to raise funds for financing some ventures in the private hands of the Burman family," the exchange filing said

Jungle Ventures-backed BetterPlace raises $40 mn in series C funding

The firm is a SaaS platform for frontline workforce management, with a user base of 1,100 large enterprises

Union Bank likely to sell Rs 780 cr of AT-1 bonds as lenders seek capital

Lenders, particularly state-owned, turn to debt capital markets to finance hefty demand for loans

Banks renew AT-1 sales after two-month gap, PSUs lead pack to raise credit

Public sector lenders would end up issuing around Rs 13,500 cr worth of such bonds in coming weeks

Quick commerce finds it footing amid funding winter, now needs to scale

The sector has fared well both on the fund raising front and on operational performance

Binny Bansal-backed fashion startup Virgio raises $37mn from Prosus, others

Set up in 2022 by former Myntra CEO Amar Nagaram, Virgio's model uses technology across processes to streamline the entire fashion lifecycle and enable a real-time fashion offering

HPCL to raise Rs 10,000 cr in debt to fund oil refining, fuel marketing ops

Hindustan Petroleum Corporation Ltd (HPCL) will raise Rs 10,000 crore in debt from domestic or overseas market to fund its oil refining and fuel marketing operations, the company said on Thursday. The board of the company at its meeting on Thursday "approved a proposal for borrowing through further issuance of secured/unsecured redeemable non-convertible debentures/bonds/notes etc. up to Rs 10,000 crore on private placement basis in the domestic market and/or in the overseas market from the date of such approval". In a stock exchange filing, HPCL said the borrowing was within the overall borrowing powers of the company. Separately, the company raised Rs 750 crore through issue of debentures on private placement basis to refinance "existing borowing and/or funding of capial expenditure". The 10-year debenture will carry a coupon rate of 7.54 per cent per annum.

Auto aftermarket firm myTVS raises Rs 203 cr in funding from Lingotto

Company earlier got Rs 487 cr from Castrol India for business and technology collaborations

Centre to sell up to 5% stake in IRCTC via OFS to garner Rs 2,720 crore

Floor price fixed at Rs 680/share, an over 7% discount to Wednesday closing price

Punjab National Bank plans Rs 1,000 cr AT-1 bond issue to shore up capital

The cost of paying coupon on tier-1 bonds, a form of debt, is less than servicing equity capital

YES Bank gets RBI nod to raise capital from Carlyle, Verventa Holdings

YES Bank will now engage with the investors for completion of the proposed capital raise, subject to various regulatory compliances

Sebi bars AIFs from raising capital from non-compliant foreign investors

Foreign investor must be is a resident of the country whose market regulator is a signatory to either IOSCO multilateral MoU or has signed bilateral MoU with Sebi

Firms' fundraising via pvt placement of bonds more than doubles in Nov

Indian companies' fundraising through private placement of bonds more than doubled on-month in November, data from the country's capital markets regulator showed

Walmart's payments startup PhonePe seeks to raise $1 billion: Report

The company is in talks with SoftBank Group Corp.'s Vision Fund, an investor in PhonePe's parent entity Flipkart, although Walmart will remain top investor, the people said