Page 21 - Fundraising

Gig work platform Awign raises $15 mn in funding round for expansion

Start-up assists enterprises in hiring high-skill talent on contract and manage such employees

We back companies where tech is an enabler, not the hero: C4D Partners CEO

Our crucial thesis is that the business model is woven around a societal problem, said CEO Agarwal

Servify raises Rs 520 crore in new round; aims for IPO in two years

Servify, a company that manages lifecycle of devices for several smartphone vendors in many markets, on Wednesday said it has raised USD 65 million (around Rs 520 crore) in a round led by Singularity Growth Opportunity Fund. The startup, which serves global brands like Samsung and Apple, has raised the money at a valuation which is just under USD 1 billion, its founder Sreevathsa Prabhakar told PTI, adding that it would have achieved the 'unicorn' status after this round itself, if not for a few challenging conditions set by investors. It has consciously raised money from domestic investors in this round because it aims to go public through an Initial Public Offering (IPO) in the next 18-24 months, he said. Investors in the new round include family offices like that of Pidilite, and also existing investors like Iron Pillar, BEENEXT, Blume Ventures, and DMI Sparkle Fund, he said, adding there is a possibility of it raising another USD 5-7 million in the next month to close the round

Dreamfolks Services raises Rs 253 cr from anchor investors ahead of IPO

Airport Service aggregator platform Dreamfolks Services Ltd on Tuesday raised Rs 253 crore from anchor investors ahead of its initial share-sale which will open for public subscription on Wednesday. Societe Generale, BNP Paribas Arbitrage, Saint Capital Fund, Segantii India Mauritius, Kuber India Fund, Smallcap World Fund, Inc, Aditya Birla Sun Life Mutual Fund, Sundaram Mutual Fund, Quant Mutual Fund and PNB Metlife India Insurance Company Limited are among the anchor investors. The company has decided to allot 7.76 crore shares to anchor investors at a price of Rs 326 apiece, aggregating the transaction size to Rs 253 crore, according to a circular on BSE's website. The Initial Public Offering (IPO) is entirely an Offer-For-Sale (OFS) of up to 1.72 crore equity shares by promoters -- Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav. The public issue will constitute 33 per cent of the post offer paid-up equity share capital of the company. The share sale, with a price band

NTPC to raise Rs 2,000 crore through issuance of non-convertible debentures

State-owned power giant NTPC will raise Rs 2,000 crore through issuance of non-convertible debentures on a private placement basis on Thursday. The proceeds will be utilised for, inter alia, funding of capital expenditure, refinancing of existing loans and other general corporate purposes, according to a regulatory filing. The company has decided to issue unsecured non-convertible debentures of Rs 2,000 crore on August 25, 2022, through private placement at a coupon of 7.44 per cent per annum with a door-to-door maturity of 10 years, it added. The debentures are proposed to be listed on NSE.

WazirX co-founder raising up to $20 mn for new blockchain venture: Report

Nischal Shetty's new venture Shardeum aims to solve the existing shortcomings of Blockchains, such as Ethereum, including low scalability, high fees, and low throughput.

RBL Bank's board approves raising Rs 3,000 crore to fund business growth

RBL Bank on Monday said its board has approved raising up to Rs 3,000 crore to fund the lender's business growth. The fund raising will be subject to the approval of the shareholders, the bank said in a regulatory filing. Besides, the board has approved issuance of 1.75 crore additional equity stock options exercisable into equivalent number of equity shares fully paid up of Rs 10 each, in addition to residual/remaining options which remain ungranted under ESOP 2018. As per the filing, the bank's board also cleared the appointment of two independent directors -- Gopal Jain, Managing Partner and Founder Gaja Capital, and Sivakumar Gopalan, Faculty of the Department of Computer Science and Engineering, IIT Bombay.

NTPC floats tender to raise Rs 5,000-cr term loan, bids invited till Aug 31

"We hereby seek participation of Banks/FIs (Financial Institutions) for the subject RFP (Request For Proposal for raising Rs 5,000 crore term loan)," a document said.

Suzlon looks to raise Rs 1,200 cr in FY23 from rights issue, says CFO

It is looking to raise up to Rs 1,200 crore through a rights issue of shares by the fiscal-end to pare the refinanced debt of Rs 3,000 crore, its Chief Financial Officer Himanshu Mody told PTI.

Apollo Tyres Q1 results: Net profit rises 49.21% to Rs 191 crore

The company said its board has approved raising Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis in one or more tranches.

SaaS start-up SquadStack raises Rs 140 cr in Series B funding for expansion

The SaaS-enabled talent marketplace will use the Series B round fund to strengthen its team, increase its sales experts base and expand into new verticals

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

The funds to be raised in one or more tranches (not exceeding 12) through private placement will be used as capital expenditure, working capital and for general corporate purposes

Fintech start-up Credit Fair raises $10 million in debt and equity

Founded in 2018, the company aims to drive financial inclusion by offering customised lending solutions to under-served business and consumer segments

Rs 8,900-cr fundraise plan: Yes Bank to convene shareholders meet on Aug 24

"The bank is well poised to capitalise on the growth opportunities and further enhance its positioning in the India banking space," it added.

SBI board approves Rs 11,000 cr capital raise via AT1, tier-II bonds

Money to be raised in rupees, dollars or other convertible currency; lender's CAR at 13.83%, with tier-I of 11.42% and Tier-II of 2.41%, March-end

Torrent Power to seek shareholders approval for raising Rs 2,000 cr

Company seeks the Members' approval for issuance of NCDs upto an aggregate amount of Rs 2,000 crore, within overall approved borrowing limit of the Company as a Special Resolution, stated AGM notice.

Vedanta Resources' near-term liquidity risk as it seeks funds: S&P

Anil Agarwal-controlled unit looks to raise $700 mn from Indian lenders

Govt will tap capital markets to fund road projects: Nitin Gadkari

The minister further said despite fears of global recession, there is no problem in funding infrastructure sector projects.

Lightspeed raises $7 bn, keeps $500 mn for India and SE Asian startups

The global $7-bn fund-raise brings its total capital under management to over $18 bn

AI, data analytics firm Ganit raises funds; to double headcount by 2023

Ganit was founded in 2017 by three veterans of the data science industry Shivaprasad KT, Ashok Harwani and Hariharan R.