Page 4 - Fundraising

Union Bank of India to raise up to Rs 20,000 cr to finance infra, housing

Union Bank of India on Wednesday said it plans to raise long-term bonds worth up to Rs 20,000 crore to finance infrastructure and affordable housing. The public sector lender also plans to issue green/sustainable bonds of up to Rs 5,000 crore, it said, announcing the outcome of the meeting of its Board of Directors. On Monday, the bank reported a 28 per cent increase in net profit to Rs 4,604 crore for the third quarter ended December 2024, helped by improved core income. The Mumbai-based bank had earned a net profit of Rs 3,590 crore in the same quarter a year ago. Its total income rose to Rs 31,375 crore in the reporting quarter from Rs 29,137 crore a year ago, Union Bank of India said in a regulatory filing.

Fintech firm Ambak raises $7 million in seed and pre-series A round

The company plans to expand its operations across 35 cities and aims to cater to over 1 lakh customers in the financial year 2025-26 (FY26)

Spencer's Retail plans fundraising post breakeven to enhance valuation

RP Sanjiv Goenka group's retail chain, Spencer's Retail Ltd has signalled its intention to explore fundraising opportunities after achieving breakeven, aiming to enhance valuations and reduce debt, a company official said. The company has already taken board approval for future fundraising and will explore various options at the opportune time, he said. The promoters had in the past indicated that the management was open to induct new investors. "We are looking at a breakeven scenario before we really get into the bandwagon. And in the last 2-3 quarters, specifically, the focus from our board has been to achieve a breakeven, which is led by efficiency and productivity. And now, having demonstrated improved metrics in third quarter, which is a target range of 19.5 per cent gross margin with 13.5 per cent opex, resulting in store EBITDA of 6 per cent, which gives us a breakeven scenario now," the official said. "For us now, we believe that we'll be able to demonstrate this number, an

Kotak Alternate Asset raises Rs 250 cr in first close of Life Sciences Fund

The Kotak Life Sciences Fund aims to deploy capital in early- to growth-stage companies across life sciences, including pharmaceuticals, biotechnology, medical devices and digital health

Ireda board gives green light to Rs 5,000 crore fundraising through QIP

Government's shareholding in Ireda would not dilute by more than 7 per cent of its 75 per cent stake in the firm, the company said

BoB raises Rs 5,000 crore through 10-year infrastructure bond at 7.23%

IRFC raises Rs 2,780 crore at 7.25% for 10-year bonds

US cos rush to bond mkt in fundraising flurry, may raise $65 bn this week

Syndicate bankers expect to see companies raising nearly $65 billion this week, and perhaps as much as $200 billion this month, in a bond issuance spree that is showing no sign of slowing

EMO Energy raises $6.2 million in Series A led by Subhkam Ventures

The company will utilise the raised funds to scale its two-wheeler energy solution to over 1 lakh vehicles over the next two years while advancing the deployment of 1 GWh of energy storage

From backseat to driver's seat, rights issues take the wheel in 2024

From coasting to leading, they seize control of fundraising road in 2024

States' fundraising may get expensive amid record borrowing, say investors

Long-term investors such as insurance companies, provident funds and pension funds are major investors for state debt

IPO Calendar: 9 public offerings to keep investors busy next week

From opening to allotment and listing, here is the complete list of IPO activities set to keep the D-Street investors busy next week

Firms get second shot at IPO jackpot as buoyant markets offer a lifeline

So far in 2024, 68 firms have raised over Rs 1 trillion through IPOs. This is only the second time after 2021 that IPO mop-up is crossing Rs 1 trillion

Reliance Infra's shareholders approve fundraise of Rs 6,000 crore

The company's board of directors had approved the fundraise on September 19

Reliance Infra's Rs 6,000 cr fundraising plan gets shareholders' nod

Shareholders of Reliance Infrastructure have approved the company's plan to raise Rs 6,000 crore through preferential issue of shares and qualified institutional placement (QIP) route. Both proposals have received shareholders' approval, with over 98 per cent voting in favour of the resolutions via postal ballot, the company informed in a stock exchange disclosure. Reliance Infrastructure's board, on September 19, had approved a Rs 6,000-crore fundraise plan. Of this, Rs 3,014 crore was to be raised through preferential allotment of shares or convertible warrants, while Rs 3,000 crore will be raised by QIP. In the first phase, Reliance Infrastructure is launching the Rs 3,014 crore preferential placement by issuing 12.56 crore equity shares or convertible warrants at an issue price of Rs 240 per share. Out of this, Rs 1,104 crore will be invested by the promoters of Reliance Infrastructure through promoter company Risee Infinity Private Ltd. Risee will subscribe to 4.60 crore ...

Zepto looks to raise $100 million, marking third funding round in 6 months

Quick commerce startup Zepto is seeking funding from domestic sources, including Indian family offices and high-net-worth individuals, as it prepares for its upcoming IPO

Birla confident of VIL turnaround; fundraise, capex cycle bolster telco

Fundraise and subsequent capex cycle have placed Vodafone Idea on a more secure footing, ensuring it remains dynamic and competitive, Aditya Birla Group Chairman Kumar Mangalam Birla said on Tuesday exuding confidence about the telco scripting a turnaround. During the inauguration of IMC and ITU-WTSA 2024, Birla told reporters that while Vodafone Idea Ltd (VIL) has been written off several times in the past, it is about time that such impressions about the company are shed. Speaking at the inaugural ceremony, Birla said he is confident that with continued support of the government, VIL will do its part in realising India's digital destiny. "With the continued support of the government, I am confident that we will do our part to realise the Prime Minister's digital India destiny. I am a firm believer in the transformative power of India's telecom sector and I see it as a bridge to a more connected, empowered and prosperous India," Birla said. It is pertinent to mention that promoter

Oberoi Realty's board approves proposal to raise up to Rs 6,000 cr

Company acquired Nirmal Lifestyle Realty Private under the Insolvency and Bankruptcy Code in August

Adani Green's 4 subsidiaries plan to raise up to $1 bn in dollar bonds

"The companies may tap the market before the end of this month, once it judges the pulse of investors in upcoming roadshows," one of the bankers said

Chennai-based Refex to raise Rs 927 crore through preferential issue

This funding comes at an opportune time as Refex continues to innovate in logistics for ash management, addressing environmental challenges associated with thermal power plant operations

IndiGrid unitholders approve move to raise Rs 695 cr via preferential issue

Infrastructure investment trust India Grid Trust on Thursday said it has received unitholders approval to raise up to Rs 695 crore through a preferential issue. During an extraordinary meeting held on Thursday, the unitholders gave their go-ahead for "issuance of units on a preferential basis for an aggregate consideration of up to Rs 695 crore", according to a regulatory filing. IndiGrid is India's first and largest Infrastructure Investment Trust (InvIT) in the power transmission sector. It owns, operates, and manages power transmission networks and renewable energy assets that deliver reliable power throughout India. As per its website, its assets under management (AUM) stand at Rs 29,255 crore. It has 22,550 MVA electricity transformation capacity.