Page 16 - Fundraising

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

Uniqus Consultech raises $12.5 mn, eyes $100 mn revenues in next 5 years

The company plans to invest the funds raised in technology and scaling up business across India, US and Middle East

Inox GFL Group raises around Rs 1,500 cr across entities to pare down debt

Inox GFL Group on Thursday said that it has raised around Rs 1,500 crore across its entities in the last fortnight. The Inox GFL Group, recently embarked on a journey towards deleveraging across all its operating entities. Towards this goal the Group has been on a significant fundraising spree, raising almost Rs 1,500 crore across its entities in the last fortnight, a company statement said. This funding has been used to pare down debt substantially across its operating companies and consequently the interest outgo will reduce substantially, it added. Around Rs 740 crore was recently raised through an IPO (initial public offering) of Inox Green Energy Services Ltd (IGESL) and the funds raised have been majorly utilized towards debt repayment, it stated. Further the promoters have recently raised Rs 720 crore through sale of shares of Gujarat Fluorochemicals Ltd (GFL). The sale proceeds, net of expenses and taxes, have been infused in Inox Wind Ltd (IWL). In turn IWL has repaid the

Fintech firm Enkash claims three-fold growth in valuation since March

Start-up that helps businesses manage their payments says it will not seek more funding this financial year