Page 5 - Fundraising

Banks turn to CD issuances in September amid sluggish deposit growth

Banks have issued Rs 7.78 trillion worth of CDs in the current calendar year until August 2024, compared to Rs 4.9 trillion in the same period of 2023, registering a 59 per cent growth

Reliance Infra board approves preferential issue worth Rs 3,014 crore

Looks to raise another Rs 3000 cr from QIP

Playbook Partners marks first close of maiden $250 mn growth fund

In response to strong institutional investor interest, the fund is using the green-shoe option and can grow up to $250 million, Playbook Partners said

Adani Group plans Rs 40K cr fundraise from retail, HNI investors via NCDs

Adani group's recent corporate filings show that as of March 31, 2024, domestic lenders had an exposure of Rs 88,100 crore to various Adani Group entities through long-term and working capital loans

NTPC receives shareholders' approval to raise up to Rs 12,000 crore

State-owned power giant NTPC on Friday said it has got shareholders' approval to raise up to Rs 12,000 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. "All resolutions proposed at the 48th Annual General Meeting were passed with requisite majority," the company said in a BSE filing. The board of directors of the company in its meeting held on 29th June, 2024 has approved the proposal and recommends the passing of the proposed special resolution (for raising up to Rs 12,000 crore in next 12 months), the AGM notice of NTPC had stated. The notice had further said that the company is under capacity expansion mode, and a major portion of its capital expenditure requirement has to be funded by debt. The approval of the shareholders is being sought to authorize the board of directors to make offer(s) or invitation(s) to subscribe to the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (NCDs/bon

Zepto adds $340 million to basket; valuation at $5 billion ahead of IPO

General Catalyst, Dragon Fund, Epiq Capital led the round

Resourceful Automobile makes a tepid debut but ends on the upper circuit

Resourceful Automobile's initial public offering (IPO) was a fresh issue of Rs 12 crore and raised eyebrows as it was subscribed a whopping 419 times

SBI's mega tier II debt issue may boost fundraising via such notes: Bankers

On Wednesday, India's largest lender SBI raised Rs 7,500 crore ($894.1 million) through 15-year tier II bonds, with a 10-year call option at 7.42 per cent coupon

Canara Bank mops up Rs 3,000 crore in additional Tier-I bonds at 8.27%

The coupon was lower than market expectations; this is the first AT-I issuance by a bank in FY25

PSUs set to issue long term bonds worth Rs 5,000 cr to meet investor demand

None of the companies replied to Reuters emails seeking comments. The merchant bankers did not want to be named because they are not authorized to talk to media

Bluestone raises Rs 900 cr in pre-IPO round, valuation doubles to $970 mn

Rs 900 crore raised by Bluestone includes Rs 600 crore in primary capital infusion, while the remaining Rs 300 crore came from secondary share sales

DMI Finance set to raise funds from MUFG at $3 billion valuation

DMI Finance plans to use the capital to expand its balance sheet, co-founder said

SpiceJet Promoter Ajay Singh to dilute over 10% stake to raise Rs 3,000 cr

After the fundraising, Ajay Singh's shareholding in SpiceJet may drop to 30-35% from 47.8%

Zepto to raise $310 million, valuing quick-commerce firm at $5 billion

Quick-commerce grocery delivery platform Zepto, currently based in Singapore, plans to relocate to India to prepare for its IPO filing

OYO raises Rs 1,457 crore from investors in series G funding round

Oravel Stays Ltd, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round, sources said. This fund raise concludes the Series G funding round. The IPO-bound unicorn had earlier raised nearly Rs 1,040 crore and Rs 416.85 crore in the same series. According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8. The capital will be used to support OYO's growth and its global expansion plans, sources said. The additional fund raise values the company at the same valuation of USD 2.4 billion, as the first Series G tranche issued to InCred in July, a source said. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The funding round includes contributions from InCred Wealth, who led the recent fundraise as well as J&A ...

Adani Energy Solutions QIP over-subscribed thrice, $1 billion raised

QIP is a fund-raising tool for companies, through which they issue equities, or other equity convertible securities to qualified institutional buyers

Dunzo co-founder Mukund Jha in talks to raise Rs 50-80 cr for new startup

Mukund Jha is looking to secure funds from Together Fund for a Gen AI company aimed at automating quality assurance (QA) processes for businesses

SAEL Group issues bonds worth $305 million in international markets

Domestic renewable player SAEL Group on Friday said it has issued green bonds worth USD 305 million in the international markets. The bonds have been issued for investors from the US, Europe and several Asian countries, the company said in a statement. "The USD 305 million (approximately worth Rs 2,500 crore) green bond was jointly issued by SAEL along with 5 wholly-owned subsidiaries together referred to as 'The Restricted Group'," the statement said. The proceeds will be used to expand the company's renewable energy portfolio, which currently stands around 4 GW, it added. SAEL Group aims to increase the portfolio of solar and waste-to-energy assets to 5 GW by the next two years, its Chief Investment Officer Varun Gupta said. In response to the bonds issues, he said, "The record order book oversubscription for SAEL's debut issuance by more than 6x reaffirms the faith of investors in SAEL's business model and the opportunities presented by renewable industry". SAEL Group is an ..

L&T Finance planning to resume retail bond issuance in H2FY25: CFO Joshi

Firm stepping up borrowing through Commercial Paper to make the most of soft interest rates

Banks to equity fundraise Rs 40,000 crore in H2FY25 to boost balance sheets

State-run banks Punjab National Bank and Bank of Maharashtra are leading the fundraising with both seeking Rs 7,500 crore each