Page 9 - Fundraising

Gujarat state civic body accepts bids for maiden green bonds: Bankers

The city, situated in the Western state of Gujarat, has set a semi-annual coupon of 7.90%, and had invited bids from bankers and investors for the issue earlier in the day

BoB Q3 results: PAT up 19% at Rs 4,579 cr; to raise upto Rs 2,500 cr in Q4

Its Capital Adequacy Ratio stood at 14.72 per cent with Common Tier I Capital of 11.11 per cent at the end of December 2023

Tata Capital Housing Finance to raise Rs 8k cr; board to discuss on Feb 5

As per banking source, of the Rs 8,000 crore, the company will raise debentures qualifying as subordinated debt, or Tier II capital, of up to Rs. 500 crore

Byju's to raise $200 million via rights issue from existing investors

Byju Raveendran said that Byju's is now less than a quarter away from achieving operational profitability

Switzerland-based responsAbility to invest up to $25 million in BluSmart

The announcement said that the investment will help BluSmart expand its EV charging infrastructure across the country

Elon Musk's AI start-up seeks to raise up to $6 bn from global investors

Thanks to the popularity of OpenAI's chatbot ChatGPT, the AI industry has been a rare bright spot in a subdued start-up funding environment

Malaysia's Khazanah in talks to lead Oyo's $400 million fund raise

The once-high-flying company, founded by Ritesh Agarwal, filed for an initial public offering for the second time in March, after slashing the target amount to be raised by about two-thirds

Adani Green Energy raises Rs 2,337 crore capital through issue of warrants

Adani Green Energy has raised Rs 2,337.51 crore through an issue of warrants to Ardour Investment Holding on a private placement basis. "Management Committee of Board of Directors of Adani Green Energy at its meeting held on Thursday, has approved the allotment of warrants of the Company, on a preferential basis by way of a private placement, to Ardour Investment Holding Ltd", a BSE filing stated. As per the filing, as many 6,31,43,677 warrants of Rs 1,480.75 each totalling Rs 23,37,51,57,789 are issued. Upon conversion and exercise of the warrants into equity shares of the Company (which shall rank pari passu to the existing fully paid-up equity shares), the warrant holder will hold 3.83 per cent equity stake in the Company, on a fully diluted basis. The equity shares issued upon conversion of the warrants so issued will be listed on BSE Limited and the National Stock Exchange of India Limited.

SBI Card raises Rs 525 crore via issuance of non-convertible debentures

SBI Card on Wednesday said it has raised up to Rs 525 crore by issuing non-convertible debentures to fund its business growth. It will allot 525 fixed rate, unsecured, rated, taxable, redeemable, subordinate tier II, listed, non-convertible debentures aggregating to Rs 525 crore on a private placement basis, according to a regulatory filing. They will have a face value of Rs 1 crore each and carry a coupon rate of 8.33 per cent, it said.

Indel Money aims IPO in FY27, floats debentures worth Rs 200 crore

Gold loan company Indel Money, which aims at initial public offering (IPO) in 2026-27, on Tuesday announced public issue of debentures worth Rs 200 crore. The fourth public issue of secured, redeemable non-convertible debentures (NCDs) of Rs 1,000 face value would open for subscription on January 30 and offers highest rate option of 12.25 per cent for 72 months. The issue includes a base size for an amount of up to Rs 100 crore with an option to retain over-subscription up to Rs 100 crore aggregating up to Rs 200 crore. Asked as to why public offer of NCDs, Indel Money CEO Umesh Mohanan said, "this is in anticipation for IPO that we are targeting in 2026-27". The funds raised through NCD issue will be used for the purpose of onward lending, financing and for repayment/prepayment of principal and interest on borrowings of the company, he said. "Our business strategy is designed to capitalize on our competitive strengths to enhance our position in the gold loan industry and to expan

Edtech major Byju's to slash $22 bn valuation by 90% to raise fresh funds

The company is focusing on rebuilding its core business and will double down on recent attempts to jump on to the next big bandwagon in education

State Bank of India raises Rs 5,000 crore funding through AT1 bonds

The nation's largest lender State Bank of India has raised Rs 5,000 crore through its second Basel III compliant additional tier 1 (AT1) bond sale this fiscal. The bank, in a statement on Thursday, said the perpetual bond with a call option after 10 years and every anniversary thereafter, is priced at a coupon of 8.34 per cent. The issue got an overwhelming response with an oversubscription of 2.65 times from a range of investors with 108 bids of Rs 5,294 crores against the base issue size of Rs 2,000 crore. The main investors include mutual funds, provident and pension funds, banks, and insurance companies, among others, the statement said. Its Chairman Dinesh Khara said the tight pricing and the diverse investor base for an instrument, which has its own challenges, shows the trust investors place in the bank. The chairman said that going by the high response, the bank has decided to accept bids of Rs 5,000 crore at a coupon rate of 8.34 per cent payable annually. The bonds were

Nazara Technologies to raise Rs 250 cr via preferential allotment

The fundraise is part of the company's planned fundraising of Rs 750 crore that was announced earlier in financial year 24

RPSG Ventures to raise Rs 284.21 crore through preferential issue allotment

RPSG Ventures Ltd on Wednesday said the company's board has approved a proposal to raise Rs 284.21 crore through preferential share allotment to promoters. The issue price is Rs 795 per share, including a premium of Rs 785 per share, it said in an exchange filing. The company, which is engaged in fast-moving consumer goods (FMCG), process outsourcing, ayurveda formulations, real estate and sports segments, will issue up to 35,75,000 equity shares. The shares will be allotted to promoter group companies Rainbow Investments Ltd and Integrated Coal Mining Ltd. The allotment is subject to shareholder and regulatory approvals. Post the exercise, Rainbow Investments' holding will rise to 39.08 per cent with 1,29,29,326 shares, and Integrated Coal Mining's stake will be 16.99 per cent (56,20,072 shares).

China weighs more stimulus with $139 billion of special sovereign bonds

The proposal under discussion by senior policymakers would involve the sale of ultra-long sovereign bonds to fund projects related to food, energy, supply chains and urbanization

Medi Assist's Rs 1,171 crore IPO subscribed 1.20 times on 2nd day of offer

The Initial Public Offering (IPO) of Medi Assist Healthcare Services got subscribed 1.20 times on the second day of subscription on Tuesday. The Rs 1,171.57 crore-IPO received bids for 2,34,69,985 shares against 1,96,19,719 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 1.70 times subscription while the quota for non-institutional investors got subscribed 1.61 times. The portion for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent. The IPO is entirely an Offer for Sale (OFS) of up to 2,80,28,168 equity shares. It has a price range of Rs 397-418 a share. Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund. Medi Assist covers over 18,000 hospit

State govt's borrowing cost begins to ease, declines by 7 bps to 7.65%

Lower supplies for the second consecutive week finally led to the coupons on state debt to fall from the two-year high at the latest auction held on Tuesday, and the weighted average cut-off eased by 7 bps to 7.65 per cent. For the past two weeks, despite poor supplies states were forced to offer very high returns, which had touched 7.72 per cent last week, the highest in the past two years. Nine states raised Rs 19,200 crore by selling state government securities on Tuesday, 32 per cent lower than the amount indicated for this week in the auction calendar. Following this and the dip in the core-CPI inflation, the weighted average cut-off dipped to 7.65 per cent from a high 7.72 per cent last week, despite the weighted average tenor increasing to 16 years from 11, Icra Ratings chief economist Aditi Nayar said in a note. Moreover, she said the spread between the cut-off of the 10-year state bonds and the 10-year benchmark G-sec yield declined to 50 bps from 54 bps last week. So far

Bank of Baroda to raise up to Rs 5,000 cr via infra bonds in Jan: Bankers

The state-run bank is likely to invite bids from bankers and investors for the proposed issue this month, they said

President Biden raise $97 mn to close out 2023 after Dec fundraising blitz

The Biden campaign said on Monday that it took in USD 235 million from its launch last April until the end of 2023 and finished the year with USD 117 million in cash on hand

Sebi proposes changes to ease fundraising, disclosure for listed companies

The regulator proposes considering funds and insurance companies holding 5% in firms post-public offer as large non-public shareholders, as per the paper