Page 22 - Fundraising

Byju's struggles to close $800-mn funding as investors balk amid tech rout

Investors including Sumeru Ventures and little-known firm Oxshott haven't transferred about $250 million of the targeted amount because of 'macroeconomic reasons'

Rajeev Misra may raise $8-10 bn for his new fund, in talks with gulf royals

Sources say it is also possible that Son may invest some money in the fund through Softbank or other vehicles, although this could not be confirmed

Indian startups raised $6.9bn in the June quarter, down 33% sequentially

They raised $6.9 bn in Q2CY22 against $10.3 billion raised in Q1CY22; funding winter is a result of the market slowdown

Fund-raising drive on track, majority of the $800 mn received, says Byju's

The firm said its payments to education firm Aakash for a $1-billion deal struck last year have concluded and the audited financial results will be out in 10 days

Top headlines: Fundraising on track, says Byju's; Shinde wins trust vote

Business Standard brings you top news of the evening

Byju's clears $950-mn payment to Aakash, completes $800-mn fund raise

Byju's founder and CEO Byju Raveendran has made a personal investment of $400 mn of the total $800 mn raised in the latest funding round by the edtech company

Fundraising via debt placement down 39% to Rs 32,405 cr in April-May

In comparison, Rs 53,253 crore was raised through the route during April-May 2021-22, data with the Securities and Exchange Board of India (Sebi) showed

Lendingkart raises Rs 75 cr in debt fund from GMO LLC, Triodos Investment

The company will use the funds to originate MSME loans across all states with credit decisions in a live environment using in-house built origination engine 'xlr8' and 'zero touch' features.

J&K Bank gets board approval to raise up to Rs 2,000 crore in FY23

State-owned Jammu and Kashmir Bank (J&K Bank) on Tuesday said it will raise up to Rs 2,000 crore, through a mix of debt and equity, in the current fiscal year 2022-23. The board of directors of the bank, in its meeting held on June 28, approved the capital raise plan, J&K Bank said in a regulatory filing. The board approved to raise equity capital up to Rs 500 crore in one or more tranches by way of rights issue/ preferential allotment, private placement/ qualified institutional placement or a follow on public offer or any other approved route, it said. It has also approved to raise up to Rs 1,500 crore capital by way of issuance of Basel III compliant tier II bonds in the nature of non-convertible debentures on a private placement basis, it added. Stock of J&K Bank closed at Rs 26 apiece on BSE, up by 1.56 per cent from previous close.

Hindustan Copper board to consider raising Rs 500 cr via debentures

The board will also consider raising funds through a qualified institutional placement method, it added.

Cashify raises $90 mn in series E funding from NewQuest and Prosus

Since 2021, the company has pivoted and embarked on its expansion across India

Vodafone Idea board to consider Rs 500-cr fundraising on Wednesday

The infusion, the second in two months, comes ahead of the 5G spectrum auction that will see Indian telecom companies battle for airwaves in multiple bands

AlphaSense looks to increase India presence, raises $225 mn in funding

The firm said its annual recurring revenue (ARR) now exceeds $100 million

ShareChat raises $255 mn from Google, Times Group, others; valued at $5 bn

ShareChat (Mohalla Tech) in a statement said it has closed multi-tranche funding round through which it raised a total of USD 520 million and reached USD 5 billion in valuation.

Ex-BharatPe MD Ashneer Grover to raise $200-300 million for new venture

Ashneer Grover, who is currently in the US, may sell his BharatPe stake or raise fresh capital by issuing a stake in the new company

Yes Bank seeks shareholders' nod for raising up to Rs 10k cr debt capital

Also, the bank will seek shareholders' approval for amendments to the Employees Stock Option Scheme (YBL Employee Stock Option Scheme 2020).

PhonePe prepping for IPO; seeks valuation of $8 bn-$10 bn: Report

Also, the company has initiated plans to move its registered holding entity from Singapore to India, underlining its 'made in India' credentials.

Queuebuster raises Rs 63 cr from Omidyar, Chiratae, Flourish Ventures

The 2016-founded company will use the funds to focus on merchant growth, product enhancements and scaling of its distribution network, it said.

Cuemath raises $57 mn in funding led by Alpha Wave; valuation doubles

The valuation of the edtech startup has doubled to USD 407 million (about Rs 3,155 crore), post the fresh fundraising, the company said.

Vi gains 10% on reports of Amazon & PEs Rs 20,000 crore investment plan

Sources say that the proceeds of the sale will be utilized to bid for the upcoming 5G spectrum auction and roll-out of services by end of the year.