Page 6 - Fund Raising

'Startup founders may find it difficult to raise funds in coming months'

With a capital crunch creeping into the market, startup founders may find it difficult to raise funds at attractive valuations in the coming months, according to industry players. During a joint programme with Meta, formerly known as Facebook, Kalaari Capital's Founder and Managing Director Vani Kola on Wednesday said that customers may defer their purchase decisions and startup founders will need to tighten up their belts and look for alternative opportunities for the business. "There is going to be a period where customers are going to delay certain kinds of decision making, but maybe there are other decisions that they make. I do think, and added to that liquidity that has overleveraged, funds in public markets will flow down ... While we only recently celebrated the 100th unicorn, any of those 100 unicorns today if they have to raise capital will perhaps get a haircut of 30 if not 50 per cent," Kola said. Kola said she has seen four to five financial downturns and whenever there

Ahead of IPO, Aether Industries garners Rs 240 cr from anchor investors

Aether Industries is a speciality chemicals manufacturer focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and tech core competencies

Kotak Private Credit fund to raise up to Rs 2,000 cr to finance mid-mkt cos

The fund will have a diversified investment universe and be sector-agnostic

Luxury watch player Ethos gets Rs 142 cr from anchor investors ahead of IPO

Luxury and premium watch retail player Ethos on Tuesday said it has raised around Rs 142 crore from anchor investors ahead of its initial share sale, which opens for subscription on Wednesday. The company has decided to allocate 16,13,725 equity shares to anchor investors at Rs 878 apiece, aggregating the transaction size to Rs 141.68 crore, according to a circular uploaded on BSE website. ICICI Prudential Mutual Fund, Jupiter India Fund, Saint Capital Fund, Nomura Singapore and UPS Group Trust are among the anchor investors. The Initial Public Offering (IPO) consists of a fresh issue of equity shares aggregating to Rs 375 crore and an Offer-For-Sale (OFS) of up to 1,108,037 equity shares. As a part of the OFS, Yashovardhan Saboo, KDDL, Mahen Distribution, Saboo Ventures LLP, Anuradha Saboo, Jai Vardhan Saboo, VBL Innovations, Anil Khanna, Nagarajan Subramanian, C Raja Sekhar, Karan Singh Bhandari, Harsh Vardhan Bhuwalka, Anand Vardhan Bhuwalka, Shalini Bhuwalka and Manju Bhuwalka

RBL Bank raises $100 mn from Basel III-compliant unsecured tier 2 bonds

RBL Bank on Tuesday said it has raised $100 million (about Rs 770 crore) through its first issuance of Basel III-compliant unsecured and subordinated tier 2 bonds.

Holcim to use proceeds from India sale for lower carbon acquisitions

Over the last 15 months Holcim has spent 5 billion Swiss francs ($4.99 billion) on a string of companies outside the cement market as it pivots towards building products like roofing and mortars.

IIT Madras raises all-time high sum of Rs 131 cr from alumni, firms in FY22

Number of firms donating to IIT Madras via CSR route has almost doubled in past five years; account for nearly half the total Rs 131 crore raised last financial year.

Pristine Logistics & Infraprojects files papers with Sebi for Rs 250-cr IPO

Pristine Logistics & Infraprojects Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale of 20,066,269 equity shares by promoters and existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. The company may consider a pre-IPO placement of equity shares aggregating up to Rs 50 crore. If such placement is undertaken, the size of the fresh issue will be reduced. Proceeds from fresh issuance will be used to repay debt and for general corporate purposes. Pristine provides logistics infrastructure and services, pivoted around rail transportation networks. It also offers synergetic logistics infrastructure and services across the spectrum, including non-container, container, rail transportation and road transportation services. It also helps in areas like integrated logistics

SBI board approves $2 bn fund raise in FY23 in single or multiple tranches

The funds will be raised via a public offering and/or on private placement basis

NFT programming start-up Revise raises $3.5 mn in funding led by Alpha Wave

Revise offers developers the rails to program NFTs to interact with apps and data

Eduvanz raises Rs 50 cr in debt round as credit disbursal doubles in FY22

Onboards Oxyzo and Unifi AIF as new lenders; existing lenders, Vivriti and MAS, take incremental exposure

The stock of this civil construction company has zoomed 147% in a month

On April 12, the board of Simplex Infra approved fund raise of up to Rs 421.80 crore by issuing shares and warrants to Swan Construction, a non-promoter group company on a preferential basis.

Borosil Renewables surges 13% ahead of board meet for fund raise

The company will mull fund raise, which may include issuance of equity shares or any other securities of the company, through preferential issue on a private placement basis.

Inox Wind falls 7% after board approves fund raise via preferential issue

The board approved fund raise of Rs 402 crore through preferential issue of equity shares and convertible warrants to promoter and non-promoters.

Kaynes Technology files draft papers with Sebi to mop up funds via IPO

Kaynes Technology India Limited (KTIL), an end-to-end and IoT solutions enabled integrated electronics manufacturing player, has filed preliminary papers with Sebi to raise funds

E-commerce platform ONDC gets fund infusion of Rs 157.5 cr, more to follow

DPIIT e-commerce brainchild expects to raise Rs 42.5 cr more

Tata Sons looks to monetise assets, raise foreign loans in FY23

The company's net debt was Rs 30,327 crore, while its cash and liquid investments were Rs 2,410 crore as of February end, according to banking sources

Pine Labs raises $50 mn, to expand BNPL offering in Southeast Asia

Pine Labs serves large, mid-sized and small merchants across India and Southeast Asia, and is expanding its Buy Now Pay Later (BNPL) offering in Southeast Asia.

Vodafone Idea shareholders approve Rs 14,500 cr fundraise proposal

Vodafone Idea (VIL) had placed special resolution of issue of equity shares worth Rs 4,500 crore to the group firms of promoters Vodafone and Aditya Birla Group for transaction at the EGM

Funds raised by Indian fintechs sees 296% jump in 2021 at $5.94 bn

Payments, according to the report, was the second-most popular category for US investors, as 167 companies received funding in 2021 in the APAC region.