Page 3 - Fundraising

Rise and rise of India's startup story: Growth beyond the funding chill

The Indian startup story has moved away from being just about raising funds

Shree Cement to raise funds by selling two-month commercial papers: Bankers

The company will offer a yield of 6.78% on this issue, and has received commitments worth around 1 billion rupees ($12.29 million), the bankers said

Bank of Maharashtra to raise up to Rs 1,000 crore from share sale in Q4: MD

As per the Sebi norms, listed entities are required to have at least 25 per cent public shareholding

Startup VilCart raises $18 mn from investors to expand operations

VilCart, the rural economy-focused technology startup, has raised USD 18 million (Rs 144 crore) from investors to expand operations. The company raised this amount in a Series A funding round led by Asia Impact SA. Nabventures Fund and Texterity Pvt Ltd also participated in the round, VilCart said in a statement. With the use of this fund, VilCart aims to expand its operations to the entire South India by 2024. VilCart, which was established in 2018 by Prasanna Kumar and Amith S Mali, seeks to revolutionise the rural unorganised retail industry with technology by providing quality products at a competitive price to every rural household with modern supply chain and logistic facilities. The startup has established numerous private labels to utilise the established supply chain network and provide quality products to the rural population. Currently, VilCart has reached 85,000 kirana stores in 30,000 villages, covering 29 districts in Karnataka and one each in Andhra Pradesh and Tam

WorkIndia raises $12 mn from founding family of Nintendo, others

Firm for blue and grey-collar jobs will use the money for expanding service, tech infrastructure

Banks raise record Rs 91,500 crore in debt capital in FY23 so far: Report

Amid tight liquidity condition, banks have issued a record quantum of bonds, with gross issuances hitting an all-time high of Rs 91,500 crore so far this fiscal, and are likely to close the financial year with around Rs 1.4 lakh crore. Gross bond issuances by banks is estimated to reach Rs 1.3-1.4 lakh crore this fiscal as debt sales have already hit record high of Rs 0.915 lakh crore, surpassing the previous high of Rs 0.8 lakh crore in FY17, Icra Ratings said in a note on Monday. The agency said this alternate resource of fund raising by banks is on the back of widening credit-deposit gap. With credit demand continuing to outdo deposits throughout this fiscal, the overall gap between deposits and credit growth widened substantially. Incremental credit expansion stood at Rs 12.7 lakh crore, while deposit accretion continued to trail at Rs 8.9 lakh crore, till December 16, 2022. To bridge this gap, banks have been relying on various sources of funding such as refinance from financia

HDFC Capital raises $376 million for affordable housing fund H-Care 3

HDFC Capital, the real estate private equity arm of HDFC Group, on Monday achieved the initial close for second scheme of its third fund, raising USD 376 million. The latest fund raising is the third by HDFC Capital's affordable real estate fund (H-Care 3) and the primary investor in the H-Care schemes is a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), HDFC said in a statement. Since the launch in 2016, the fund, across its schemes, has created a USD 3.1 billion funding platform, making it one of the largest private finance platforms in the world focused on development of affordable housing. The fund will provide long-term, flexible funding across the life cycle of affordable and mid-income housing projects including early-stage funding. In addition, it will also invest in companies in the construction technology, fintech, sustainability-tech etc. engaged in the affordable housing ecosystem. HDFC Capital targets to finance 10 lakh affordable homes through a

Athulya Senior Care raises Rs 77 cr from fund managed by Morgan Stanley

Financing one of largest for senior care sector in country, will help firm to expand services

JG Chemicals files preliminary papers with Sebi; to raise funds via IPO

Zinc oxide manufacturer JG Chemicals has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its draft red herring prospectus(DRHP). As part of the OFS, Vision Projects & Finvest Pvt Ltd will sell 36.40 lakh shares, Suresh Kumar Jhunjhunwala (HUF) will offload 12.70 lakh shares, Anirudh Jhunjhunwala (HUF) will divest 6.50 lakh shares and Jayanti Commercial Ltd will offer 1.40 lakh equity shares. The firm may consider a pre-IPO placement of equity shares aggregating to Rs 40 crore or a secondary sale of 28.50 lakh equity shares by its selling shareholders or a combination thereof. If such placement is undertaken then the fresh issue size or offer-for-sale portion will be reduced. Proceeds from the fresh issue will be used for ...

Aditya Birla Fashion and Retail proposes to raise Rs 500 crore through NCDs

Aditya Birla Fashion and Retail Ltd (ABFRL) plans to raise Rs 500 crore through issuance of bonds on private placement basis. "The company proposed to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, issued at par aggregating to Rs 500 crore on private placement basis, on or after January 13, 2023," the Aditya Birla group firm said in a regulatory filing on Friday. This is within the limits approved by the board and shareholders of the company, it added. ABFRL, part of the USD 60 billion global conglomerate, Aditya Birla Group is India's largest multi-brand retailer of International global brands such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok. The company portfolio also includes fashion brands -- Louis Philippe, Van Heusen, Allen Solly and Peter England -- and fashion retailer Pantaloons.

OFS still commands the lion's share in fundraising through IPO, shows data

SME segment has a higher share than mainboard companies

Jack Ma's Ant wins approval to raise $1.5 bn capital for its consumer unit

The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020

IIFL Finance to raise funds via public issue of non-convertible debentures

The issue, which also has a greenshoe option to retain an oversubscription of 9 billion rupees, will open for subscription on Friday and close on Jan. 18

Edelweiss Financial Services to raise Rs 200 cr via public issue of NCDs

The company's public issue will open for subscription on Tuesday and will close on Jan. 23

Firms could raise funds via public issues in 2023 as cash tightens: Bankers

Corporates have traditionally preferred raising funds via private placements due to its ease, shorter execution time, and lower costs overall

More than $100,000 raised for slain Indian dairy worker in NZ's Auckland

More than $100,000 has been raised for the family of an Indian dairy shop worker who was stabbed to death in New Zealand's Auckland last month

Punjab & Sind Bank board to consider fundraise of Rs 250cr on Dec 30

City-based Punjab & Sind Bank on Tuesday said its board will meet on December 30 to consider a proposal for raising up to Rs 250 crore by various modes, including equity and bonds issuance, the bank said on Tuesday. The bank said it plans to raise capital up to an amount and aggregating to Rs 250 crore in any combinations of equity shares or debt in the form on Basel III compliant bonds. The capital will be raised in one or more tranches within a period of 12 months from the date of approval by way of issue of these instruments, the lender said. Punjab & Sind Bank shares closed flat at Rs 32.70 apiece on BSE.

Flexible workspace provider WeWork India raises Rs 550 cr from BPEA Credit

The company said it will use fresh funds for future growth and potential consolidation opportunities

Money View raises $75 mn in Series E by Apis Partners, valued at $900 mn

Founded in 2014, Money View provides personalised credit products and personal financial management solutions

Fund mobilisation through equity, debt routes down 20% to Rs 11 trn in 2022

Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war. "The first half of 2023 could continue to be challenging, largely driven by global macro developments. If the slowdown/recession in the US is mild, then we could see a rally in global markets in the second half of next year, which would aid investor sentiment and the Indian markets as well," said Vishal Chandiramani, Managing Partner Products and COO, TrustPlutus Wealth (India) Pvt Ltd. Even with a bounce back in markets, it will be more difficult to garner funds over the next few years as