Page 6 - Fundraising

Smart home appliances start-up Up raises $1.3 mn in pre-seed funding

Start-up's device assists people with no cooking experience by listing recipes, nutrition information

pi Ventures raises $8 mn for 2nd fund from British International Investment

The second fund was launched in March 2021 with a base target corpus of $75 million and including a green shoe target of $100 million

Ahead of IPO, Kaynes Technology garners Rs 257 cr from anchor investors

Kaynes Technology India Limited (KTIL) on Wednesday said it has collected Rs 257 crore from anchor investors ahead of its initial share sale that opens for public subscription on Thursday. The company has allotted 43.76 lakh equity shares to anchor investors at Rs 587 apiece, aggregating to Rs 257 crore, according to a circular uploaded on the BSE website. Nomura, Goldman Sachs, ICICI Prudential Mutual Fund (MF), Axis MF, Aditya Birla Sun Life MF, Tata MF, HDFC MF and WhiteOak Capital are among the anchor investors, it added. The company IPO comprises fresh issue of equity shares worth Rs 530 crore and an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder. The OFS comprises sale of 20.84 lakh equity shares by promoter Ramesh Kunhikannan and 35 lakh equity shares by existing shareholder Freny Firoze Irani. Proceeds from the fresh issue will be used to repay debt, funding capital expenditure for its manufacturing facilities at Mysore and

Sah Polymers, Sula Vineyards get Sebi's nod to float IPOs to raise funds

Polymer manufacturer Sah Polymers and leading wine producer Sula Vineyards have received capital markets regulator Sebi's approval to raise funds through initial public offerings (IPOs). The two companies, which had filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi) during April and July 2022, obtained observations during October 31-November 3, an update with the regulator showed on Monday. In Sebi's parlance, the regulator's observation means its go-ahead to launch an initial share sale. Going by the draft papers, Sah Polymers' IPO will be a fresh issue of 1,02,00,000 equity shares, with no offer-for-sale component. The company proposes to utilise net proceeds from the fresh issuance of equity shares towards manufacturing of new Flexible Intermediate Bulk Containers (FIBC) plant and expansion of production capacity; funding working capital requirements for the new project; and payment of certain debt. The Udaipur-based company is primarily engaged

EV start-up MoEVing raises $2.5 mn from JSW Ventures for e-mobility biz

Funding will also support firm's expansion across multiple cities in India and team building across functions; current round brings MoEVing's total funding to $10 million

Mahindra & Mahindra Financial Services raises Rs 275 crore by issuing bonds

Mahindra & Mahindra Financial Services on Monday said it has raised Rs 275 crore by issuing bonds on a private placement basis. A meeting of the committee of directors was held on October 31, 2022 and it approved the allotment of 2,750 secured redeemable principal protected non-convertible market linked debentures, the company said in a regulatory filing. The face value of the bond is Rs 10 lakh each, aggregating to Rs 275 crore. Mahindra Finance stock was trading at Rs 202.25, down 1.68 per cent on the BSE.

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

Top Headlines: RBI's liquidity infusion; Google fined Rs 936 crore by CCI

Walmart Inc-backed Flipkart is considering raising $2 billion to $3 billion at a valuation of more than $40 billion to expand its product range in India and challenge rivals

Made-in-India VCs continue to grow in numbers despite economic headwinds

145 new companies were set up in India in the past two years - 123 in 2021 and 22 in 2022: Tracxn data

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

Board approves issue of debentures

PhonePe in talks to raise $700 million at $12 billion valuation

Digital payments firm seeking investors' support to scale up operations and compete with rivals

Rights issue: Lull after 3 stormy years, mop-up Rs 2,867 crore in CY22

Mop-up Rs 2,867 cr in CY22, as against Rs 25,335 cr in same period last yr

Ambuja Cements allots 477-million warrants to Adani family firm

Ambuja Cement, now a part of Adani Cement, has issu­ed the warrants at a price band of Rs 418.87

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

Byju's raises $250 mn from existing investors, valuation remains at $22 bn

Regardless of the adverse macroeconomic conditions, Byju's founder Byju Raveendran said 2022-23 is set to be the best year in terms of revenue, growth and profitability

India Inc's fundraising from overseas sinks to 76-qtr low in Q2: Data

Fund raise drops by 93.3% year-on-year to $210 mn in the quarter

Fireside Ventures announces final close of third fund at $225 million

Fireside is betting big on market for D2C brands in India which is set to touch $100 billion by 2025

EV solutions start-up Vecmocon raises $5.2 mn for business expansion

Company assists OEMs and others with the latest technology and components

Health-tech start-up Good Health Company raises $10 mn in funding

Hyderabad-based company will use financing to introduce more product categories and expand team