Corporate Fundraising

Shubham Housing Development Finance on Tuesday announced a Rs 1,000 crore fundraise in a round led by Multiples Private Equity. Existing investors Asian Development Bank (ADB) and British International Investment (BII) also participated in the round, which consists of a mix of primary and secondary transactions. Multiples will hold a significant minority stake in the company post-transaction. The deal comprises a primary issuance of Rs 400 crore along with a secondary purchase from early investors, the statement said. Multiples' managing director Nithya Easwaran, who will enter the company's board post deal, said the Shubham has a strong focus on asset quality and expertise in micro markets. The company, an affordable housing finance lender that provides home loans to lower-income families and emerging consumers across the country, will use the funds to drive growth across its product offerings and expand its footprint. The Gurugram-headquartered company started in 2011 and has .

Venture Capital firm Physis Capital has received commitment of Rs 150 crore for its around Rs 400 crore or USD 50 million venture fund, which it plans to invest in 12-15 startups, a senior official of the firm said on Tuesday. Physis Capital, General Partner, Vinay Bansal told PTI that the firm expects the final close of the fund by early 2026. "Our Rs 400 crore fund is split into four buckets comprising Rs 100 crore retail investors, Rs 100 crore family offices, Rs 100 crore from financial institutions and Rs 100 crore from the government. "We have closed Rs 100 crore from retail investors and half of the family offices bucket. We have received a total commitment of Rs 150 crore," Bansal said. Physis Capital was set-up by the founders of Inflection Point Ventures which has invested in companies like Bharat Pe, Blusmart, VideoVerse, Milkbasket, Samosa Party, Stage, and Otipy. "The final close of the fund is expected by early 2026. We will invest the fund in Indian start-ups. Physi

Mankind Pharma on Monday said it will raise up to Rs 10,000 crore via issuance of non-convertible debentures and commercial papers. The company said its board has approved to raise up to Rs 5,000 crore via non-convertible debentures in 3-4 distinct series with maturities of up to 48 months. The board's fundraising committee also approved to raise up to Rs 5,000 crore via listed and rated commercial papers, having face value as may be decided in accordance with applicable law, in one or more tranches or series, the drug maker said in a regulatory filing. The company, however, did not disclose how it aims to utilise the raised capital. In July this year, Mankind had announced the acquisition of Bharat Serums and Vaccines from Advent International for around Rs 13,630 crore. The company is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations and consumer healthcare products. Shares of the company on Monday ended 2.68 per cent down at Rs .

Company that runs community-led mobility apps will use the money for improving technology, research

Infrastructure company Hazoor Multi Projects Ltd (HMPL) on Saturday said its board has approved a proposal to raise Rs 486 crore through the issuance of warrants. The plan was approved by the board of the company at a meeting on Friday, HMPL said in a regulatory filing. The board has approved fundraising of Rs 4,860 million through issuing and allotting up to 1.62 crore fully convertible warrants to the persons belonging to the 'non-promoter' and 'public' category on a preferential basis at an issue price of Rs 300 per warrant, the company said. The proposal is subject to the approval of shareholders and other regulatory authorities, HMPL added. "Upon issue of Warrants in accordance herewith, an amount equivalent to 25 per cent of the total issue size shall be called upfront from the proposed allottees," it noted. The company said it looks to utilise the proceeds to enhance financial resources to fund its growth. Besides, the constitution of a fundraising raising committee was am

Fuelled by improved market sentiments and robust underlying demand, fundraising by issuing shares/units to institutional investors soared to Rs 78,000 crore in 2023-24, a more than seven-fold surge year-on-year. The 2024-25 fiscal is expected to be very robust as companies will continue to garner capital for capex post-election results. "In an unprecedented era of economic development aided by pro-business reforms and macroeconomic stability, India is set to become the third largest economy globally by 2027 and will continue to see strong flows. "In this backdrop, we expect FY25 to also very strong year from a primary capital perspective as companies will continue to look to raise capital for capex post-election results," Neha Agarwal, MD & Head of Equity Capital Markets at JM Financial Ltd, told PTI. Financial companies raise funds through qualified institutional placement (QIP) to meet their additional capital requirement buffer to support their growth plans and enhance their ...

Power utility CESC Ltd on Friday said it received board's approval for raising Rs 100 crore from Axis Bank through issue of non-convertible debentures on private placement basis. The committee of the board of directors at its meeting approved the allotment of 10,000 secured, unlisted, redeemable, rated non-convertible debentures having a face value of Rs 1,00,000 each aggregating to Rs 100 crore on a private placement basis to Axis Bank Limited, CESC said in a regulatory filing.

Investments from private equity and venture capital funds into domestic companies declined about 40 per cent to USD 27.9 billion so far this year, while the outflow increased marginally to USD 19.34 billion year-on-year. According to the numbers collated by Venture Intelligence that tracks private capital and debt flows, and industry body IVCA, investments by private equity and venture capital funds as of December 20, 2023, fell to a low of USD 27.9 billion across 697 transactions, as against USD 47.62 billion inflows in 2022 across 1,364 deals. The year also saw more money being pulled out from the country by private equity players with overall exits touching USD 19.34 billion from 248 companies as against 233 exists worth USD 18.45 billion in 2022, according to the data. Industry watchers, however, said green shoots of more funding is very much visible in the coming year. The funding slowdown this year is a temporary adjustment, and as we move forward, we expect renewed and robus

Sterling and Wilson Renewable Energy has raised Rs 1,500 crore through an issue of shares to qualified institutional investors, the company said in a statement. The Securities Issuance Committee of Board of Directors at its meeting held on December 14 approved the issue and allotment of 4,32,27,665 equity shares to eligible qualified institutional buyers at the issue price of Rs 347 per equity share. Sterling and Wilson Renewable Energy Ltd said that the Rs 1,500 crore Qualified Institutions placement (QIP) issue witnessed a strong response from both domestic mutual funds and marquee global FIIs. Amit Jain, Global CEO, Sterling and Wilson Renewable Energy said, Last couple of months have been challenging for us as an organization and the successful completion of the QIP is a significant moment in our journey." Bulk of the proceeds from the QIP will be used to pare down debt furthermore providing us capital to pursue the fast-growing solar EPC markets in India and abroad, Jain ...

Proceeds will be used to reduce debt and capitalise on the solar engineering, procurement, and construction (EPC) markets in India and overseas

The company, which operates 13 ports and terminals in the country including its largest container handling port

Indian companies raised around 914 billion rupees ($10.97 billion) through the private placement of bonds in November

BLive, a multi-brand electric vehicle platform, is looking to raise USD 5 million in the next six months, its CEO and co-founder Samarth Kholkar said on Friday. The investor interest in BLive is "strong", Kholkar said, adding that the company is hopeful of making a funding-related announcement in the next six months. "We have raised under USD 2 million over a period of time, and we are looking to raise USD 5 million now because our primary interest is to invest in technology and people. "Technology, because we are a platform at the end of the day, which has a lot of data coming in, now it is time to consolidate, extrapolate and use the latest technology, including blockchain to ensure we can scale up our business from a typical 10X to a 100X," he said. BLive is looking to double its revenue to about Rs 100 crore in FY25 and is aiming for profitability in 12 months timeframe. "So to boost that, we need a strong tech platform, which will help us reach that scale...to that milestone,

Infrastructure major Larsen and Toubro (L&T) on Thursday said it has raised Rs 1,500 crore through Non-Convertible Debentures (NCDs). The debentures are proposed to be listed on the National Stock Exchange, L&T said in a regulatory filing. "The company has today (Thusrday) issued and allotted 1,50,000 rated, listed, unsecured, redeemable, non-convertible debentures of Rs 1 lakh each aggregating to Rs 1,500 crore maturing on May 2, 2025," it said. The NCDs have been issued at a coupon rate of 7.58 per cent. Larsen & Toubro is an Indian multinational engaged in EPC (engineering, procurement and construction) projects, hi-tech manufacturing and services. It operates in over 50 countries.

The global corporate funding in energy storage segment fell 31 per cent to USD 15.2 billion during the January-September 2023, the US-based Mercom Capital said on Thursday. The segment had attracted USD 22 billion worth of investments during the nine month period last year, the research firm said in its latest report. "Corporate funding in the energy storage sector was down 31 per cent in 9M (nine month) 2023, with USD 15.2 billion raised in 94 deals, compared to USD 22 billion in 93 deals in 9M 2022," it said. However, during the July-September quarter the segment attracted USD 8.2 billion investment, up 32 per cent year-on-year over USD 6.2 billion raised in the same period of 2022. The funding includes the venture capital, debt and public market financing modes. In India, a lithium-ion battery manufacturer raised USD 2.4 million in pre-series A round funding, while public infrastructure finance company REC Ltd approved a funding of USD 730.8 million to Greenko to develop a 1,44

Neogen Chemicals will raise Rs 253 crore through an issue of preferential shares to investors to expand business. In a regulatory filing on Wednesday, the company informed that the Board of Directors considered and approved the allotment of 14,42,358 equity shares of face value of Rs 10 each at a price of Rs 1754.07 per share, aggregating up to Rs 252.99 crore on a preferential basis. SBI Large and Midcap Fund, SBI Contra Fund, SBI Equity Savings Fund, Quant Small Cap Fund, TATA India Tax Saving Fund, India Acorn Fund Ltd, Ashoka India Equity Investment Trust PLC, Invesco India Small Cap Fund and Alchemy Long term Ventures Fund have been allotted these preference shares. The equity shares allotted by the company to these investors will be listed on the stock exchanges. "The company is in the business of manufacturing specialty Chemicals. The Company anticipates growth opportunities in its existing organic/ inorganic business and continues to evaluate various avenues for growth and

Inox Wind Energy Ltd (IWEL) has raised Rs 800 crore through sale of equity shares of Inox Wind, according to a regulatory filing. The sale has been made through block deals on the stock exchanges, INOXGFL Group said in a BSE filing. "IWEL, the promoter of Inox Wind Ltd (IWL), successfully raised Rs 800 crore through sale of equity shares of Inox Wind via block deals on the stock exchanges," it said. The funds raised will be infused into IWL and utilized for the repayment of IWL's external debt, marking a significant step towards achieving a net-debt free status. The transaction witnessed strong participation across long-only domestic and foreign institutional investors, it said. Devansh Jain, Executive Director of INOXGFL Group, said "With today's transaction, we have taken a large step towards our goal of achieving a net debt-free status for Inox Wind Ltd. "As Inox Wind embarks on its next phase of growth, underpinned by India's renewable energy targets, its robust financial ...

The corporate funding in the global solar sector rose 55 per cent to 28.9 billion during January-September 2023, mainly due to the push to meet energy transition objectives, Mercom Capital has said. The global corporate funding in the sector was USD 18.7 billion in the first nine months of 2022, the US-based research firm said in its latest report. Despite inflationary challenges and elevated interest rates, financing in the solar industry has remained robust through the first three quarters of 2023, Mercom Capital Group CEO Raj Prabhu said. "The resilience can be attributed to a strong global push to achieve energy transition objectives and substantial demand created by the Inflation Reduction Act - which has helped the sector weather persistent economic challenges and retain the interest of investors," he added. In the venture capital segment in India, Juniper Green Energy secured a USD 350 million investment from AT Capital Group and Vitol to achieve its target to triple its ...

Shareholders of Wockhardt have rejected a proposal to raise Rs 1,600 crore from a promoter entity, according to a regulatory filing. The board of Mumbai-based drug firm had sought shareholder approval for a related party transaction with Khorakiwala Holdings and Investments Pvt Ltd (KHIPL) to raise up to Rs 1,600 crore for a period of five years. KHIPL, a promoter entity, is an RBI registered NBFC. About 50.12 per cent votes came in against the proposal while 49.87 per cent of the votes polled favoured the resolution, Wockhardt said in a regulatory filing. In a note, proxy advisory firm IiAS said it had sought approval for the proposal but it was defeated. "Wockhardt's resolution for a related party transaction with Khorakiwala Holdings and Investments Pvt Ltd (KHIPL) for an amount up to Rs 1,600 crore for a period of five years, was defeated," it noted. IiAS said the proposed related party transaction with KHIPL was intended for borrowing of funds for an amount up to Rs 1,600 cr

Power Grid Corporation's board has approved a proposal to raise up to Rs 5,700 crore through issuance of bonds on private placement basis in multiple tranches in 2023-24. The fund raised will be used to part finance its capex requirement, for providing inter corporate loans to wholly-owned subsidiaries/JVs and for general corporate purposes. This will be done by securitization of cashflows of 4 operational SPVs (special purpose vehicles) viz. POWERGRID Bhuj Transmission, POWERGRID Khetri Transmission System, POWERGRID Medinipur Jeerat Transmission System and POWERGRID Varanasi Transmission System up to March, 2034. The company is raising Rs 500 core in the first tranche with a green shoe option of (additional) Rs 1,400 crore.