Page 2 - Fundraising

NTPC Green Energy to raise up to Rs 9,000 cr through rupee term loan

NTPC arm NTPC Green Energy Ltd (NGEL) has invited bids for rupee denominated term loan of up to Rs 9,000 crore. The bid document showed that NGEL intends to raise fresh debt and repay outstanding liability of Rs 8,200 crore towards NTPC by March 31, 2023 along with applicable interest cost. Also, additional funds to the tune of Rs 800 crore would be required for additional debt liability and for balance capex payments of projects which are yet to achieve full commercial operations, it stated. Thus, NGEL has invited offer for rupee term loan of up to Rs 9,000 crore, it said. The minimum amount of loan offered by banks/FIs (financial institutions) shall be Rs 1,000 crore and in multiples of Rs 500 crore thereafter, it stated. The last date for submission of bids is March 6, 2023. NTPC had incorporated NGEL in April 2022 for consolidating its renewable energy businesses and aggressively pursue its green/ sustainable energy venture.

Secure Blink bags seed funding from US-based venture capital firm

Secure Blink offersThreatspy, the SaaS platform which empowers developers and security engineers to secure their web applications and APIs proactively

PNB to raise Rs 800 cr in AT1 bond, instrument has 'AA+' from India Ratings

The Delhi-based lender has board approvals in place to raise Rs 12,000 crore in capital in FY23 through bond issuances

Vodafone Idea may get 60 days to raise funds before govt asks for Q3 dues

The company has paid about 10% of the charges and fees it owes govt for the October-December quarter

Start-up InsuranceDekho raises $150 mn in funding for expanding business

Company will use money to improve technology, enter new markets and launch products in health and life categories

Garuda Aerospace raises $22 mn, aims to sell 25,000 drones in next 18 mnths

A part of the funds will be used for R&D to accelerate the development of building advanced drone solutions for the armed forces, in collaboration with global companies for the defence and aerospace

Indore mops up Rs 661.52 cr on Day 1 of public issue of green bonds

In a first-of-its-kind initiative in India, the Indore Municipal Corporation (IMC) has garnered Rs 661.52 crore on the first day of a public issue of green bonds to raise capital for setting up a Rs 244 crore solar power plant. The green bond was oversubscribed by 5.42 times against the base price of Rs 122 crore, an official said. The public issue will close on Tuesday. Madhya Pradesh Chief Minister Shivraj Singh Chouhan tweeted, "Congratulation to Indore again! The investors and commoners have overwhelmingly responded to the green bonds of Indore which has bagged India's cleanest city award for the six consecutive times, and made it number one." The civic body of the country's cleanest city is going to set up a 60 MW capacity solar plant. IMC is the first urban body in the country to introduce green bonds as a public offering for the solar power plant, the official said. The power generated from the plant will be used for pulling water from Narmada river in Jalud village in ...

NaBFID looking to raise Rs 5,000 crore via maiden bond issue in June qtr

The funds will likely be raised through long-term infrastructure bonds, managing director and chief executive officer Rajkiran Rai G said on Friday

Engineering analytics start-up Hatica raises $3.7 mn in seed funding

Firm's development solutions integrate and communicate with tools used by software developers

NABARD aims to raise Rs 3000-5000 cr in debut green bond issue: Report

Currently, NABARD is getting necessary certifications and approvals to comply with the market regulators' guidelines on green debt issuance, a company official said

IDFC First Bank to raise Rs 2,196 cr via preferential allotment of shares

IDFC First Bank on Saturday said its board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for Rs 2,196 crore. Equity shares of face value of Rs 10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of Rs 58.18 per unit, including premium of Rs 48.18 per share, IDFC First Bank said in a regulatory filing. The proposal is subject to acceptance of the offer by the board of IDFC and approval of the shareholders of the bank, it said.

Hindujas to invest Rs 10,000 crore to raise stake in IndusInd Bank

The Hinduja group has also offered to take over Reliance Capital for Rs 9,000 crore, but its offer is facing litigation from its rival bidder Torrent

Tata Motors raises final tranche of Rs 3,750 crore from TRG Rise Climate

Tata Motors on Tuesday said it has raised the second and final tranche of Rs 3,750 crore from TPG Rise Climate as per an agreement inked in 2021. In October 2021, Tata Motors announced that it will raise USD 1 billion in its passenger Electric Vehicle (EV) business from TPG Rise Climate in exchange for compulsorily convertible preference shares to create a portfolio of EVs and dedicated Battery Electric Vehicle (BEV) platforms. Tata Motors and TPG Rise Climate entered into a binding agreement under which TPG along with its co-investor ADQ to invest in a subsidiary of Tata Motors. "...pursuant to the Agreement, TPG has subscribed to 3,75,00,000 compulsorily convertible preference shares of the face value of Rs 1,000 each in the subsidiary on January 31, 2023, for an aggregate consideration of Rs 37,50,00,00,000 as the second tranche of the transaction," Tata Motors said in a regulatory filing. With the subscription of the Tranche II Investor Securities by TPG, the entire investment

State Bank of India plans to raise $500 million via green bonds

SBI has also issued green bonds worth $800 million since 2018-19 and a green loan worth €50 million in 2020-21

Donald Trump's return to Facebook could be major fundraising boost

The decision by Facebook's parent company to soon reinstate Donald Trump's account comes at a critical moment for the former president as he tries to build campaign momentum for a return to the White House. Reclaiming his social media megaphone could open an important new stream of revenue for the 2024 contest's only declared candidate, whose campaign has faced criticism for its lackluster launch. Trump is considering a return to Twitter, as well, rejoining both of the social media giants that he used to great effect to widely and personally connect with his supporters in previous campaigning. He was banned from posting on both Facebook and Twitter, along with other social media sites, for his role in inciting violence in the deadly insurrection at the US Capitol on January 6, 2021. In considering a return to the platforms that shunned him, Trump is essentially recognising that the social media company he launched last year, Truth Social, pales in comparison to the reach of the ...

Climate tech start-up Ecozen raises $25 mn to expand beyond agriculture

The debt portion was provided by Maanaveeya Development and Finance, Oxyzo, Northern Arc group, HDFC Bank and Axis Bank

Tata Motors one of many as India Inc turns averse to ADRs and GDRs

Tata Motors joins growing list of domestic firms to delist ADR programme

Hero Electric looks to raise nearly Rs 2,000 crore to drive expansion

The company is not looking for mergers and acquisitions, but is open to having a strategic investor who can bring some technical expertise

Saving, investment app Gullak raises $3 mn in seed funding round

Company will use the money to increase revenue, product development, get users

USTDA expecting portfolio to unlock $37 bn financing in India: Director

Director of USTDA, Enoh T Ebong, also informed that USTDA has launched a new partnership with eight state governments India for 'interstate clean energy procurement partnership'