Page 17 - Fundraising

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

Top Headlines: Vi's fundraising on hold, trade settlement in rupee & more

Business Standard brings you the top headlines at this hour

Vodafone Idea's fundraising put on hold as govt delays equity call

The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion including hefty dues to the government

ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales

ICICI likely to issue long-term bonds, Axis mulls infra bond sale

HealthKart raises $135 million in funding from Temasek, A91 Partners

Company will use money to promote brands, increase offline distribution, and expand internationally

Hyderabad airport operator to raise Rs 1,250 crore to retire forex debt

To float AA-rated 10-year NCDs at a lower rate of interest than the 5.37% coupon on dollar-denominated senior secured notes due for repayment in April 2024

KreditBee raises $80 million in Series D from Premji Invest, others

The fintech firm aims to cross an AUM of over $1 billion in the next 6-9 months

Orchid Pharma board approves QIP programme to raise Rs 500 crore

Drug firm Orchid Pharma on Thursday said its board has approved to raise Rs 500 crore from institutional investors. The company's board has approved a Qualified Institutional Placement (QIP) programme to raise Rs 500 crore, it said in a regulatory filing. With this QIP, the Dhanuka group, which took over the company in 2018, is also meeting its mandatory obligation to dilute 15 per cent stake in it by March 2023. Post a successful turnaround of the Insolvency Bankruptcy Code case, the company has been on a growth spree, it said. On the back of a robust product launch pipeline and an agile management team, the company said it is poised to become an even stronger player in the Cephalosporin antibiotics space.