Page 9 - Fundraising
Torrent Power to seek shareholders approval for raising Rs 2,000 cr
Company seeks the Members' approval for issuance of NCDs upto an aggregate amount of Rs 2,000 crore, within overall approved borrowing limit of the Company as a Special Resolution, stated AGM notice.
 "Torrent Power to seek shareholders approval for raising Rs 2,000 cr")
Vedanta Resources' near-term liquidity risk as it seeks funds: S&P
Anil Agarwal-controlled unit looks to raise $700 mn from Indian lenders
 "Vedanta Resources' near-term liquidity risk as it seeks funds: S&P")
Govt will tap capital markets to fund road projects: Nitin Gadkari
The minister further said despite fears of global recession, there is no problem in funding infrastructure sector projects.
 "Govt will tap capital markets to fund road projects: Nitin Gadkari")
Lightspeed raises $7 bn, keeps $500 mn for India and SE Asian startups
The global $7-bn fund-raise brings its total capital under management to over $18 bn
 "Lightspeed raises $7 bn, keeps $500 mn for India and SE Asian startups")
AI, data analytics firm Ganit raises funds; to double headcount by 2023
Ganit was founded in 2017 by three veterans of the data science industry Shivaprasad KT, Ashok Harwani and Hariharan R.
 "AI, data analytics firm Ganit raises funds; to double headcount by 2023")
Byju's struggles to close $800-mn funding as investors balk amid tech rout
Investors including Sumeru Ventures and little-known firm Oxshott haven't transferred about $250 million of the targeted amount because of 'macroeconomic reasons'
 "Byju's struggles to close $800-mn funding as investors balk amid tech rout")
Rajeev Misra may raise $8-10 bn for his new fund, in talks with gulf royals
Sources say it is also possible that Son may invest some money in the fund through Softbank or other vehicles, although this could not be confirmed
 "Rajeev Misra may raise $8-10 bn for his new fund, in talks with gulf royals")
Indian startups raised $6.9bn in the June quarter, down 33% sequentially
They raised $6.9 bn in Q2CY22 against $10.3 billion raised in Q1CY22; funding winter is a result of the market slowdown
 "Indian startups raised $6.9bn in the June quarter, down 33% sequentially")
Fund-raising drive on track, majority of the $800 mn received, says Byju's
The firm said its payments to education firm Aakash for a $1-billion deal struck last year have concluded and the audited financial results will be out in 10 days
 "Fund-raising drive on track, majority of the $800 mn received, says Byju's")
Top headlines: Fundraising on track, says Byju's; Shinde wins trust vote
Business Standard brings you top news of the evening
 "Top headlines: Fundraising on track, says Byju's; Shinde wins trust vote")
Byju's clears $950-mn payment to Aakash, completes $800-mn fund raise
Byju's founder and CEO Byju Raveendran has made a personal investment of $400 mn of the total $800 mn raised in the latest funding round by the edtech company
Fundraising via debt placement down 39% to Rs 32,405 cr in April-May
In comparison, Rs 53,253 crore was raised through the route during April-May 2021-22, data with the Securities and Exchange Board of India (Sebi) showed
 "Fundraising via debt placement down 39% to Rs 32,405 cr in April-May")
Lendingkart raises Rs 75 cr in debt fund from GMO LLC, Triodos Investment
The company will use the funds to originate MSME loans across all states with credit decisions in a live environment using in-house built origination engine 'xlr8' and 'zero touch' features.
 "Lendingkart raises Rs 75 cr in debt fund from GMO LLC, Triodos Investment")
J&K Bank gets board approval to raise up to Rs 2,000 crore in FY23
State-owned Jammu and Kashmir Bank (J&K Bank) on Tuesday said it will raise up to Rs 2,000 crore, through a mix of debt and equity, in the current fiscal year 2022-23. The board of directors of the bank, in its meeting held on June 28, approved the capital raise plan, J&K Bank said in a regulatory filing. The board approved to raise equity capital up to Rs 500 crore in one or more tranches by way of rights issue/ preferential allotment, private placement/ qualified institutional placement or a follow on public offer or any other approved route, it said. It has also approved to raise up to Rs 1,500 crore capital by way of issuance of Basel III compliant tier II bonds in the nature of non-convertible debentures on a private placement basis, it added. Stock of J&K Bank closed at Rs 26 apiece on BSE, up by 1.56 per cent from previous close.
 "J&K Bank gets board approval to raise up to Rs 2,000 crore in FY23")
Hindustan Copper board to consider raising Rs 500 cr via debentures
The board will also consider raising funds through a qualified institutional placement method, it added.
 "Hindustan Copper board to consider raising Rs 500 cr via debentures")
Cashify raises $90 mn in series E funding from NewQuest and Prosus
Since 2021, the company has pivoted and embarked on its expansion across India
Vodafone Idea board to consider Rs 500-cr fundraising on Wednesday
The infusion, the second in two months, comes ahead of the 5G spectrum auction that will see Indian telecom companies battle for airwaves in multiple bands
 "Vodafone Idea board to consider Rs 500-cr fundraising on Wednesday")
AlphaSense looks to increase India presence, raises $225 mn in funding
The firm said its annual recurring revenue (ARR) now exceeds $100 million
ShareChat raises $255 mn from Google, Times Group, others; valued at $5 bn
ShareChat (Mohalla Tech) in a statement said it has closed multi-tranche funding round through which it raised a total of USD 520 million and reached USD 5 billion in valuation.
 "ShareChat raises $255 mn from Google, Times Group, others; valued at $5 bn")
Ex-BharatPe MD Ashneer Grover to raise $200-300 million for new venture
Ashneer Grover, who is currently in the US, may sell his BharatPe stake or raise fresh capital by issuing a stake in the new company
 "Ex-BharatPe MD Ashneer Grover to raise $200-300 million for new venture")
