Page 3 - Fund Raising

Content management platform Contentstack raises $80 mn in Series C funding

Georgian's Lead Investor Emily Walsh will join the Contentstack board along with Contentstack CFO David Overmyer

Instant food brand Yu raises Rs 20 cr funding for business expansion

Company says it will 'aggressively expand' presence in US, Africa and West Asia

SAT relief for Bombay Dyeing and Wadias in Sebi market ban case

Tribunal stays order restraining company and promoters from capital markets for 2 years

Another busy week for mkt; 4 firms set to launch IPOs to raise Rs 5,000 cr

The primary market continues to be a busy one with four firms, including Archean Chemical Industries and Five Star Business Finance, are set to float their IPOs next week to collectively raise about Rs 5,000 crore. The other two firms whose initial public offerings (IPOs) are ready to open are -- Kaynes Technology India and Inox Green Energy Services. This came after four companies launched their initial share-sales last week. Of these, two IPOs -- maker of snacks and sweets Bikaji Foods International and Global Health Ltd which operates hospitals under the Medanta brand -- are currently underway. The IPOs of Archean Chemical and Five Star Business will be open for public subscription on November 9 and close on November 11, while that of Kaynes Technology and Inox Green are set to kick off on November 10 and November 11 respectively, as per the red herring prospectus (RHP). So far in 2022, as many as 26 companies have floated their IPOs to raise over Rs 48,000 crore. In 2021, 63 IP

Cashback and coupons firm CashKaro raises Rs 130 crore in funding

Company will use funding for expansion, new technology and product development

E-commerce enabler Optiwise.ai raises $1.3 mn from StartupXseed Ventures

The company plans to spend the proceeds on its products, building a world-class team, and expanding its customer base beyond North America to other emerging e-commerce regions

Fusion Ltd plans to raise about Rs 600 crore by issuing fresh equity shares

Microfinance company Fusion Limited is planning to raise around Rs 600 crore through fresh issuance of equity shares in its initial public offering (IPO), a top official said on Saturday. The initial share sale will open for public subscription on November 2 and conclude on November 4. The company has fixed a price band of Rs 350-368 a share, its MD and CEO Devesh Sachdev said at a press conference. The IPO comprises fresh issuance of equity shares worth Rs 600 crore and an offer of sale of 1,36,95,466 equity shares by promoters and existing shareholders. The company is expected to raise Rs 1,104 crore at the upper end of the price band. The company has around 1,000 branches in 377 districts in 19 states in the country with a 29 lakh customer base, Sachdev said. The company presently manages a Rs 7,400 crore portfolio, out of which Rs 500 crore portfolio is from Rajasthan, he added. The company offers loans in the rural sector, especially women with an average loan size of Rs 25,

Tata plans to borrow Rs 15,000 crore for Air India's working capital

The money will be used to cover day-to-day air operations and losses, refurbish the fleet, pay aircraft rentals and overhaul IT operations, according to sources

Indus Towers to raise Rs 2,000 crore via NCDs after weak Q2 result

The fund raise was approved by the company's board of directors following the second quarter FY 2023 result which saw 44 per cent year on year drop in net profit to Rs 872 crore.

Software delivery firm Devtron raises $12 mn funding from Insight Partners

Start-up will use financing to expand team, promote its platform and expand business

Vodafone Idea gets board of directors' nod to raise Rs 1,600 cr from ATC

Board approves issue of debentures

Revfin raises $10 mn in series A funding from Green Frontier Capital

Revfin plans to use the funds to expand its geographical footprint to 25 states and capture over 10 per cent national market share of financed electric three-wheelers

Shardeum raises $18 mn in seed round from a clutch of 60 investors

WazirX founder Nischal Shetty, also co-founder Shardeum, says crypto world needs to work with regulatory bodies

Hinduja Leyland Fin raises Rs 910 cr from qualified institutional buyers

The Company's board of directors approved the allotment of Issuance of 65 million equity shares of Rs 10 each at an issue price of Rs 140 per share aggregating to the total of Rs 910 crore

MTNL gets nod to raise Rs 17,571 cr via bonds, borrow Rs 35k from banks

State-owned MTNL on Thursday said its shareholders have approved a proposal to raise up to Rs 17,571 crore through government-guaranteed debt bonds on private placement basis. Shareholders of the loss-making public sector telecom firm have also enhanced power of the board to borrow up to Rs 35,000 crore from banks and other financial institutions, according to the result of the scrutinised report of MTNL's annual general meeting held on October 10. According to the report, 99.85 per cent shareholders voted in favour of the resolution to "offer or invite subscriptions for government guaranteed, unsecured, listed, redeemable Non-Convertible Debentures (NCDs) in the nature of bonds, in one or more series I tranches, aggregating up to Rs 17,571 crore on private placement basis". The resolution to raise the borrowing powers of the board from Rs 30,000 crore to Rs 35,000 crore received 99.85 per cent votes in favour, the report said.

Kaynes Technology gets Sebi's go ahead to float IPO to raise funds

Kaynes Technology India Limited (KTIL) has received capital markets regulator Sebi's go ahead to raise funds through an Initial Public Offering (IPO). The IPO consists of a fresh issue of equity shares aggregating to Rs 650 crore, and an Offer For Sale (OFS) of up to 72 lakh equity shares by a promoter and an existing shareholder, according to the Draft Red Herring Prospectus (DRHP). The OFS comprises sale of up to 37 lakh equity shares by promoter Ramesh Kunhikannan and up to 35 lakh equity shares by existing shareholder Freny Firoze Irani. The company, which filed preliminary IPO papers with Sebi in April, obtained its observations letter on October 6, an update with the regulator showed on Monday. In Sebi's parlance, the observation implies its go ahead to launch IPO. Going by the draft papers, proceeds from the fresh issue worth Rs 130 crore will be used to repay debt and Rs 98.93 crore will be utilised for funding capital expenditure for its manufacturing facilities at Mysore

Flickstree raises $5 mn in pre-series B round led by Venture Catalysts

Flickstree is a content and marketing tech start-up that uses AI to create free branded video content; its data engine promote these videos, which keep churning transactions in auto-pilot mode

Atul Auto soars 14%; board issues 5 mn warrants to ace investor Vijay Kedia

The board approved issuance of up to 5.81 mn convertible warrants at Rs 198 per share to promoters and non-promoters including ace investor Vijay Kedia

HDFC to raise up to Rs 12,000 cr through bonds on private placement basis

Housing Development Finance Corporation (HDFC Ltd) will raise up to Rs 12,000 crore by issuing bonds on a private placement basis next week. The base issue size is Rs 1,000 crore with an option to retain over subscription of up to Rs 11,000 crore, it said in a regulatory filing on Friday. The secured redeemable Non-Convertible Debentures (NCDs) will carry a coupon rate of 8.07 per cent per annum for a tenor of 10 years. "The object of the issue is to augment the long-term resources of the corporation. "The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation," it said. The issue will open on October 11 and close the same day. The issue is part of company's Shelf Placement Memorandum "AA-series" aggregating to Rs 75,000 crore that was approved by the mortgage lender's board in November 2021.

Muthoot Finance to raise Rs 300 cr via secured NCDs, issue size at Rs 75 cr

Proposed NCDs have AA+ rating from ICRA denoting 'high degree of safety'