Page 20 - Fundraising

Suzlon Energy to raise Rs 1,200 crore via rights issue of 2.4 bn shares

Suzlon Energy on Sunday said its board has approved raising Rs 1,200 crore via a rights issue of 240 crore shares. The Securities Issue Committee of the Board, at its meeting held on Sunday, approved the rights issue, the company said in a regulatory filing. The company will raise Rs 1,200 crore through issuance of 240 crore shares with face value of Rs 2 each at an issue price of Rs 5 per share. The number of outstanding equity shares will increase from 1007,30,87,083 to 1247,30,87,083 after the issue (assuming full subscription). Five rights equity shares will issued for every 21 fully paid-up equity shares held by the eligible shareholders of the company. If the shareholding of any of the eligible equity shareholder is five or more, such shareholders will be entitled to at least one one equity share, it added.

LML plans to raise up to Rs 500 cr; first product in 2nd half of 2023

LML Electric plans to raise up to Rs 500 crore to fund setting up of its own manufacturing plant and scale up business, according to company MD and CEO Yogesh Bhatia. The company is gearing up to launch its first product in the Indian market in the second half of 2023 to mark the return of one of the popular two-wheeler brands of yesteryears, LML in an electric reincarnation. LML Electric has already entered into a partnership with Saera Electric Auto Pvt Ltd, which had acquired American cult bike maker Harley Davidson's manufacturing plant at Bawal in Haryana, to roll out its products in the initial phase. "We are planning to launch three products and all are in different categories. Our first product, an electric bike (bicycle), is coming in the first half of 2023 for the European and the US market. Our second and third products will be launched in the second half of 2023 for India and other markets," Bhatia told PTI. The second product will be a "hyper bike" -- a crossover betwe

SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%

Lender claims overwhelming response from investors, with bids of Rs 9,647 crore; issue oversubscribed 5x against base size of Rs 2,000 crore

Insurtech start-up Zopper raises $75 million in series C funding

Currently, there are 57 insurance companies in India- 24 in the life insurance sector and the others in non-life insurance businesses

Ambuja seeks shareholders' nod for Rs 20k-cr warrants, Adani's appintment

Ambuja Cements, which has been acquired by the Adani family, has called for an extraordinary general meeting with its shareholders on October 8. In the EGM (Extraordinary General Meeting), Ambuja Cements will seek shareholders' approval for the appointment of Gautam Adani and others on the board and a Rs 20,000 cash infusion in the company through preferential allotment of warrants. Ambuja Cements has sought approval for allotment of preferential allotment of 47.74 crore warrants at a price band of Rs 418.87 to Harmonia Trade and Investment Ltd, a promoter group entity, totalling Rs 20,001 crore in one or more tranches. The warrant holder would pay a minimum amount of Rs 104.72, around 25 per cent of the issue price at the time of subscription, and a further payment of Rs 314.15 at the time of exercise of the rights to convert in equity shares. Ambuja Cements, which also owns 50.05 per cent in ACC Ltd, has called for an EGM of the shareholders "scheduled to be held on Saturday, ...

New Leaf raises Rs 6.15 cr pre-series A funding from Good Ventures

The firm claims to support around 15,000 farmers currently and aims to reach more than 2 lakh small and marginal farmers over the next 3 years

Veranda Learning Solutions to raise Rs 300 crore in preferential issue

This raise includes an investment of Rs 61.4 crore to be subscribed by the promoters in the form of convertible warrants

SoftBank's Masayoshi Son discusses setting up third Vision Fund: Report

The 65-year-old entrepreneur has raised billions of dollars in cash recently and sees another startup fund as one of several possible priorities for the money

How a startup in Pakistan folded just a year after raising $85 million

Airlift started by operating vans and small buses used by office workers and students. When that business slowed during the pandemic, the company pivoted to quick commerce

Peer Robotics raises $2.3 million in seed funding from Kalaari Capital

The company's robots learn from humans in real-time, allowing people on the shop floor to easily integrate and deploy solutions, stated Peer Robotics

Trump's Save America fundraising group under US govt investigation: Report

A US federal grand jury is investigating former President Donald Trump's Save America fundraising group, a media report said, citing subpoenas

Construction management start-up Powerplay raises $7.14 mn in funding

The company will use the funds to expand its business in India and abroad. Powerplay said the value of construction managed on its platform from January to June 2022 is worth Rs 7,500 crore

HDFC Bank's Rs 3,000-crore AT1 bonds get FY23's best rate at 7.84%

Canara Bank plans Rs 1,500-2,000 cr AT1 sale; Axis Bank, too, mulls fundraise

Online pharmacy platform Tata 1mg turns unicorn after raising $40 mn

Funding round was led by Tata Digital; Tata 1mg has become 105th unicorn in India

ICICI Bank to raise Rs 10,000 cr via infra bonds in one or more tranches

Proceeds to be used for project financing, affordable housing

Simpolo raises $66 million from Motilal Oswal and India SME-managed fund

Simpolo group said that it would aim to use the funds to increase the market share and grow penetration in the market, both domestic and international

NTPC gets shareholders' nod to raise up to Rs 12,000 cr via bonds

NTPC has got shareholders' approval to raise up to Rs 12,000 crore through issuance of non-convertible debentures on private placement basis. The resolution was passed with requisite majority in the annual general meeting held on Tuesday. The funds to be raised in one or more tranches (not exceeding 12) will be used for capital expenditure, working capital and general corporate purposes, as per the notice for the AGM. As the company is in capacity expansion mode, major portion of the capital expenditure requirement has to be funded by debt. The company's board approved the proposal on July 29, 2022.

Shriram Transport to raise Rs 5k cr in second half of FY23 to fund growth

Most of the fund-raising is likely to be via non-convertible debentures with a maturity of three years, Umesh Revankar, managing director of STFC added.

Aksum Trademart plans to raise $25 mn from investors to fund expansion plan

Aksum Trademart, a business-to-business (B2B) startup into raw material supply to MSMEs, plans to raise USD 25 million (about Rs 199 crore) from investors to fund its expansion plans. The company has hired a boutique investment banking firm to help raise capital. "We plan to raise phase-wise capital in line with our growth milestones and for making investment into technology. As per the growth milestones we are looking to raise USD 25 million over the next 12 months," Aksum Trademart co-founder Sumit Bhatia said. The company is in discussion with early stage investors and family offices to meet the capital requirements, the other co-founder Ankit Jain said, adding that the digital supply chain of the future will require the companies to outsource, that is, to leverage Supply Chain as a Service (SCaaS). The advantages include end-to-end connectivity, improved productivity, lower cost, heightened flexibility and better asset management, Bhatia said. On the debt front, he said, the .

HealthAssure raises Rs 50 cr in pre-series B funding led by Dadlani Group

HealthAssure is targeting the massive $ 40 billion OPD and Insurance market in India by 'productizing' the largest HMO ecosystem of primary care