Page 7 - Fundraising

KKR seeks $20 billion for its new North America private equity fund

The New York-based firm, which had $578 billion in assets under management as of the end of March, is returning to a tougher fundraising market for buyout funds

Jain Global raises $5.3 billion in biggest hedge fund debut since 2018

Jain Global will start trading July 1, according to people familiar with the matter. Investors include endowments, foundations, family offices, bank wealth platforms and sovereign wealth funds

Prestige Estates Projects approves $599 million fundraise via stake sale

"The monetizing bid largely means that Prestige will seek greater value for hospitality biz and will likely go for an initial public offering," said Karan Khanna, a research analyst at Ambit Capital

State Bank of India to raise up to Rs 20,000 cr via long-term bonds in FY25

During the last financial year, SBI raised a total of Rs 20,000 crore through the sale of 15-year infrastructure bonds

Startup Landeed raises funds from Paradigm Shift to extend product line

Proptech startup Landeed on Tuesday said it has raised funds in a strategic financing round led by Paradigm Shift VC. The company did not disclose the amount of funds raised. Landeed in a statement said it will utilise the fresh capital to extend its product line and expand its workforce to support its growing expansion in India and abroad. In January 2023, the homegrown startup raised USD 8.3 million in a funding round led by Y Combinator, Draper Associates, and Bayhouse Capital. Landeed's mobile app allows property owners, agents, developers, and legal advisors to access real estate records for building, lending, and transacting properties. Founded by Sanjay Mandava, ZJ Lin, and Jonathan Richards, the startup recently launched an AI Property Analyser, which provides a complete ownership history of properties, from the initial owner to the most recent, including any transactions or encumbrances. "Though we weren't actively raising funds, were heavily oversubscribed in the last r

Sportswear brand TechnoSport raises Rs 175 crore from A91 Partners

Sportswear brand TechnoSport on Friday said it has raised Rs 175 crore from A91 Partners, an early growth equity fund. This fresh capital will help TechnoSport enhance its manufacturing capabilities, focus on digital brand building, and amplify its marketing activities, the Bengaluru-headquartered firm said in a statement. "The funding will also support the expansion of TechnoSport's sales and distribution channels, helping the brand reach a wider audience," it said. The Indian sports apparel market was valued at USD 673.34 million in 2022 and is expected to reach USD 1,926.10 million by 2029, with a CAGR of 16.2 per cent. Over the past three years TechnoSport, which aims for 10 per cent of the Indian activewear market, has maintained an average growth rate of between 30-40 per cent, it said. TechnoSport CEO Puspen Maity said this fresh infusion of capital marks a pivotal moment in the company's growth journey, enabling to accelerate expansion on multiple fronts. "With this suppo

IDFC First Bank board approves Rs 3,200 cr fundraise via preferential issue

IDFC First Bank on Thursday said its board approved a plan to raise Rs 3,200 crore via preferential issue of shares to fund business growth. The board of the bank at its meeting on May 30, 2024 considered and approved to issue, offer and allot 39.68 crore shares of face value of Rs 10 each fully paid-up, on a preferential basis, to the allottees at a price of Rs 80.63 per equity share, amounting to Rs 3,200 crore, IDFC First Bank said in a regulatory filing. This is subject to approval of the shareholders of the bank, it said. Further, the board approved a process of carrying out postal ballot to seek approval of the shareholders for issuance and allotment of equity shares by way of preferential issue to the proposed allottees. Post allotment, the issued and paid-up equity share capital of the bank will increase from 7,07,72,76,843 equity shares of Rs 10 each fully paid-up to 7,47,41,51,443 fully paid-up equity shares of Rs 10 each. After the preferential issue, LIC stake would ..

Vedanta seeks shareholders' approval for Rs 8,500 crore fundraise

Mining billionaire Anil Agarwal-led Vedanta Ltd has sought shareholders' nod to raise up to Rs 8,500 crore through issuance of securities. "We hereby submit a copy of Postal Ballot Notice....seeking approval of the Members of the company in respect of...issuance of securities up to Rs 8,500 crore," the company said in a filing on the BSE. The e-voting for postal ballot will start at 9 am on Thursday and will end at 5 pm on June 21, the filing said. The company's board had earlier approved raising funds via instruments like American depository receipts, global depository receipts and foreign currency convertible bonds. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across countries like India, South Africa, Namibia, Liberia and UAE.

TI Clean Mobility to raise Rs 580 crore from GEF Capital Partners

TICMPL focuses on creating electric vehicle (EV) native commercial vehicle platforms across three-wheelers, tractors, and small and heavy commercial vehicles

Stride Ventures closes Fund III at $165 mn, portfolio showcases top cos

This third fund has garnered strong support from a diverse mix of investors, including insurance companies, family offices, corporate treasuries, and high-net-worth individuals (HNIs)

FirstCry refiles IPO papers, reports December revenue at Rs 4,814 crore

FirstCry's Key Performance Indicators (KPIs) include its average order value, annual transacting customers and number of orders

Capria Ventures closes Rs 153 cr India Opportunity Fund post Awign exit

Capria and other investors in Awign, India's largest tech-led, on-demand work fulfilment platform, have sold their stake in the company in a buyout by Japanese conglomerate Mynavi Corporation

Startup Accacia raises Rs 54 crore from investors to expand business

Startup Accacia, a decarbonisation platform focusing on real estate and infrastructure sectors, on Monday said it has raised USD 6.5 million (around Rs 54 crore) from investors to expand the business. In a statement, the company said it has "closed a USD 6.5 million pre-Series A round led by Illuminate Financial". Southeast Asia-based AC Ventures also participated in this round, alongside continued support from early backers Accel and B Capital. Founded in 2022 by Annu Talreja and co-founders Piyush Chitkara and Jagmohan Garg, Accacia offers an AI-enabled SAAS platform that helps real estate asset managers, owners and developers track their emissions, and design their decarbonisation journey. "We have already deployed our solution to over 25 million square feet of real estate and are poised to leverage this opportunity and scale globally," said Talreja, Founder and CEO at Accacia. Accacia's tech platform integrates with existing property management, energy management and procureme

Fundraising through bond placement hit all-time high at Rs 9.98 trn in FY24

Fund mobilisation through corporate bonds on private placement basis reached an all-time high of Rs 9.98 lakh crore in 2023-24, marking a surge of 17 per cent from the preceding fiscal, according to a release by primedatabase.com on Thursday. Prime Database Group Managing Director Pranav Haldea attributed the upswing to a surge in credit demand fuelled by strong economic growth. This came despite changes in taxation relating to debt mutual funds and expectations of lower borrowing costs. The highest fund mobilisation in 2023-24 (FY24) came from the All-India Financial Institutions/Banks category at Rs 4.68 lakh crore. This was in comparison to Rs 4.33 lakh crore raised in 2022-23, representing an increase of 8 per cent. The private sector (excluding banks or financial institutions) witnessed a 44 per cent jump, mobilising Rs 4.96 lakh crore compared to Rs 3.44 lakh crore in 2022-23. Government entities played a key role, collectively mobilising 39 per cent of the total amount, ...

Tomorrow Capital leads $2.7 mm fundraise for kidney care startup VitusCare

Venture capital fund Tomorrow Capital on Tuesday said it has led a USD 2.7 million (over Rs 20 crore) fundraise for VitusCare, a kidney care startup based in Gurugram. In addition to Tomorrow Capital's contribution, the Series A funding round saw participation from existing investor 1Crowd, alongside support from 3i Partners and a consortium of angel investors, totalling approximately USD 5 million in funding across all the funding rounds, the company said in a statement. The fresh capital injection will empower VitusCare to aggressively expand its operations, with a targeted focus on deeper penetration into 'Bharat', it added. "As the prevalence of lifestyle-related disorders such as diabetes and hypertension continue to rise, the demand for kidney-related services is poised to increase exponentially. VitusCare's innovative approach and impressive growth trajectory align perfectly with our mission to invest in solutions that make a meaningful impact on public health," Tomorrow ...

HMPL board approves Rs 486 cr fundraising plan through issuance of warrants

Infrastructure company Hazoor Multi Projects Ltd (HMPL) on Saturday said its board has approved a proposal to raise Rs 486 crore through the issuance of warrants. The plan was approved by the board of the company at a meeting on Friday, HMPL said in a regulatory filing. The board has approved fundraising of Rs 4,860 million through issuing and allotting up to 1.62 crore fully convertible warrants to the persons belonging to the 'non-promoter' and 'public' category on a preferential basis at an issue price of Rs 300 per warrant, the company said. The proposal is subject to the approval of shareholders and other regulatory authorities, HMPL added. "Upon issue of Warrants in accordance herewith, an amount equivalent to 25 per cent of the total issue size shall be called upfront from the proposed allottees," it noted. The company said it looks to utilise the proceeds to enhance financial resources to fund its growth. Besides, the constitution of a fundraising raising committee was am

Fundraise by InvITs, REITs surges multi-fold to Rs 17,116 cr in FY24

Investor enthusiasm towards InvITs and REITs is on the rise, with fundraising through these routes reaching Rs 17,116 crore in 2023-24, a 14-fold year-on-year surge fuelled by the prospect of stable returns. Going ahead, the outlook for infrastructure investment trusts (InvITs) and real estate investment trusts (REITs) in terms of fundraising for the current fiscal FY25 is very optimistic, industry experts said. "After Sebi's amendments to the SM (small and medium) REITs regulations last month, we are poised for a transformative shift. The Indian fractional ownership market, set to evolve into SM REITs, is projected to grow from USD 500 million to over USD 5 billion in AUM by 2030, indicating a significant expansion and bright prospects for SM REITs," WiseX CEO Aryaman Vir said. Moreover, the road sector is likely to be a major beneficiary, likely attracting 75 per cent of the new inflows, thanks to a robust pipeline of assets ready for monetisation and a strong pace of infrastructu

Vodafone Idea receives shareholders' approval for Rs 20,000 cr fundraising

Proposed financing may go towards Vodafone Idea's long-awaited 5G rollout and fortifying its 4G services

Voda Idea holds EGM to seek shareholders' approval to raise Rs 20,000 crore

Troubled telecom operator Vodafone Idea on Tuesday said it has held an extraordinary general meeting to seek shareholders' approval to raise up to Rs 20,000 crore by issuing securities. VIL, in a statutory filing, said that the results of the voting will be intimated, separately. "An Extra-ordinary General Meeting of Vodafone Idea Limited was held today, that is, Tuesday, April 2, 2024, at 3.00 p.m. through Video Conferencing (VC) / Other Audio Visual Means (OAVM) in accordance with the relevant circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India," Vodafone Idea (VIL) said in a BSE filing. The agenda listed in the extraordinary general meeting (EGM) pertained to "issuance of securities up to an aggregate amount of Rs 20,000 crore". It is pertinent to mention that in February this year, the struggling telecom operator had said its board had approved raising up to Rs 20,000 crore in equity from promoters and other investors by June, as it

PNB board approves Rs 10,000 crore fundraising in FY25 by issuing bonds

State-owned Punjab National Bank on Thursday said it will raise Rs 10,000 crore by issuing bonds in the next fiscal. "The Board of Directors of the Bank, in its meeting held today, has approved raising of capital for an amount up to Rs 10,000 Crore through Basel III Compliant Bonds (Additional Tier-I Bonds up to Rs 7,000 Crore and Tier- -II Bonds up to Rs 3,000 Crore), to be raised in one or more tranches during FY 2024-25," PNB said in a regulatory filing. Shares of PNB closed at Rs 124.35 on the BSE, up 1.30 per cent.