Page 6 - Fund Raising

Airblack raises Rs 33 crore led by Micheal & Susan Dell Foundation

Since starting three years back, over 35,000 students in 300 cities have enrolled in Airblack courses

SpiceJet board considering raising fresh capital by issuing equity shares

Budget airline tells BSE about its plan; told court earlier it's 'struggling to stay afloat'

Defence manufacturer CoreEL Tech secures $16 mn funding from 360 ONE Asset

The Bengaluru-based firm's products have been deployed in India's next-generation radars, missiles, electronic warfare and avionics

The Sleep Company secures Rs 184 cr in Series C funding from Premji Invest

The sleep and sitting solutions firm has plans to open a total of 100 stores in the next six months, reinforcing its Pan-India presence across Tier I and Tier II markets

Global Dental Services raises $50 mn from Qatar Investment Authority

Founded in 2011 by Singh, the company currently operates 422 company-owned and managed dental clinics under the 'Clove Dental' banner, spread across 24 cities in 12 states

Travel credit card startup Scapia raises $23 mn to expand business

Company has zero joining and annual fees, provides 10% reward on every card transaction

Fintech start-up Kiwi raises $13 mn to expand credit on UPI offering

Kiwi has issued 25,000 credit cards until now and plans to have 0.5 million customers by the end of 2024

Flurry of IPOs: 5 cos including Tata tech gear up to raise Rs 7,300 cr

The initial public offering (IPO) lane will be busy in November with five companies, including Tata Technologies and Indian Renewable Energy Development Agency Ltd, tapping the primary market next week to raise over Rs 7,300 crore collectively. The other three companies whose maiden public issues are ready to open are Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery India. Together, these five companies are expected to fetch more than Rs 7,300 crore through the IPOs, data from the stock exchanges showed. Before this, three firms -- ASK Automotive, Protean eGov Technologies, and ESAF Small Finance Bank -- launched their public issues earlier this month. Further, IPOs of Honasa Consumer, which owns FMCG brands Mamaearth, and household products and stationery manufacturer Cello World concluded in the first week of the month. V Prashant Rao, Director & Head-ECM, Investment Banking at Anand Rathi Advisors, attributed several factors to the hectic IPO ...

Ahead of electoral bond hearing, Chidambaram slams BJP on fund raising

With the Supreme Court set to commence hearing on a batch of pleas challenging the validity of the electoral bond scheme, Congress leader P Chidambaram on Monday alleged that the BJP has made its intentions clear that it will raise its funds from big corporates in an "opaque, secretive and conspiratorial manner." The BJP hit back at Chidambaram for his remark, saying it is piteous that Congress opposes any attempts made to ensure a more transparent and democratic political funding system. Chidambaram's attack on the BJP came after the Centre contended that the electoral bond scheme for political funding of parties contributes to clean money. Attorney General R Venkataramani told the Supreme Court that citizens did not have the right to information regarding the source of funds under Article 19(1)(a) of the Constitution. In a post on X, Chidambaram said, "On the eve of the hearing of the Electoral Bonds case, the BJP has made its intentions clear. The BJP will raise its funds from b

Ola Electric in 'giga' drive: Rs 3,200 crore to fund its EV business

The funds raised are expected to create an interim event and pave the way for an initial public offering (IPO), which may be in the range of $800 million to $1 billion

Fundraising through corporate bonds decline in October, shows data

According to data from the Prime database, companies and banks raised Rs 23,797 crore as of October 24, compared to Rs 72,941 crore in September

Bank of Baroda to raise Rs 10,000 cr to fund infra, housing projects

Bank of Baroda (BoB) on Wednesday said its board has approved a proposal to raise up to Rs 10,000 crore to fund infrastructure and affordable housing projects. The approval is for raising Long Term Bonds for Financing of Infrastructure and Affordable Housing aggregating to a total size of up to Rs 10,000 crore, in single or multiple tranches during 2023-24 and beyond, if found expedient, BoB said in a regulatory filing. The Reserve Bank of India on Tuesday barred state-owned BoB from onboarding new customers on its mobile app 'bob World' following material supervisory concerns. "The Reserve Bank of India has, in exercise of its power, under Section 35A of the Banking Regulation Act, 1949, directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the 'bob World' mobile application," the central bank had said in a statement. The action, the RBI had said was based on certain material supervisory concerns observed in the manner of onboard

Neobank Zolve raises $100mn in debt facility to offer credit products

Company says it has facilitated transactions worth more than $600 mn since 2021

Insurtech player InsuranceDekho raises $60 mn in Series B funding round

This is the second fundraise for the Gurugram-based startup in 2023, taking its total fundraise to $200 million

Bajaj Fin up 3% as nod for Rs10,000 cr fund raise; here's what analysts say

This capital raise could then be a tacit acknowledgment that Bajaj Finance is readying its capital ammunition for how the competitive landscape is going to evolve over next few years, said analyst.

Bajaj Finance to raise Rs 10,000 crore via QIP, preferential issue

Out of the total, Rs 8,800 crore will be raised via QIP and the remaining Rs 1,200 crore will be via preferential allotment of shares to Bajaj Finserv

Canara Bank raises Rs 5,000 crore at coupon rate of 7.54 % per annum

The Canara Bank has in its maiden issuance of Long Term Infrastructure Bonds raised Rs 5,000 crore at a coupon rate of 7.54 per cent per annum. "The issue received overwhelming response from investors, with bids for more than Rs 14,180 crore against a base issue size of Rs 1,000 crore and green shoe option of Rs 4,000 crore," it said in a statement. The Bank's Long Term Infrastructure Bonds are rated as "AAA/Stable" by CARE Ratings Limited and India Ratings & Research Ltd, it was stated.

Shree Cement to raise up to Rs 700 cr via NCDs on private placement basis

The fundraising plan is expected to be part of the company's Rs 7,000-crore capex plan in the next phase of growth, during which it aims to add an additional 12 million tonnes of capacity

Udaan in talks with existing and new investors to raise $400 million

Amid the funding winter and macroeconomic uncertainty, this funding will result in bolstering the balance sheet of the company and supporting its IPO plans, according to the sources

Global fundraising via IPOs drops 52% in 2023 to $147.2 billion

At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion in the first eight months of 2023 followed by the US and China.