Page 8 - Fund Raising

BillionElectric raises $10 mn in seed fund round, launches e-MaaS platform

E-Maas (electric mobility as-a-service) platform BillionElectric on Tuesday announced its entry into the domestic market and said it has secured USD 10 million in a seed round of funding. The capital infusion, which is in the form of equity and lease funding, will be strategically allocated for the deployment of electric tarmac buses at the Bengaluru international airport; and development of a mid-mile heavy EV trucks platform, the company said in a statement. The company said it has already inked a contract to expand its services to 10 additional airports pan-India, following the initial launch in Bengaluru in collaboration with a partner. The funds raised will play a vital role in supporting and accelerating the expansion of operations, it said. "We announce the launch of E-Maas platform BillionElectric accompanied by the successful completion of our seed funding round. Over the last two years of product development and software innovation, this is our significant investment, sa

Aditya Birla Capital to raise up to Rs 1,750 crore via share sale

The issue price for the placement is between Rs 170 and Rs 176, a 6.2% to 2.9% discount to Monday's closing level of Rs 181.25

Top headlines: Go First lenders approve $55 mn infusion, Vi turnaround soon

Business Standard brings you the top headlines at this hour

VC firm Avaana Capital announces first close of climate tech fund at $70 mn

Fund will invest in sectors like energy transition, mobility and supply chains, sustainable agriculture

Climate-focused VC firm Avaana Capital raises $70 mn in first funding round

This is the first close in the Avaana Climate and Sustainability Fund, India's first tech-led climate fund, meaning it can start investing in companies while raising capital for its own fund

Aether Industries hits record high; rallies 10% on fund raising via QIP

Aether Industries on Monday, June 19, launched a QIP issue to raise up to Rs 750 crore and fixed the floor price of the issue at Rs 984.90 per share.

Adani Transmission gets shareholders' nod to raise up to Rs 8,500 crore

According to the company's BSE filing, 98.64 per cent votes were polled in favour of the resolution

NabFID seeks to raise about $1 billion from multilateral institutions

Raises Rs 10k cr in maiden debenture offering; oversubscribed 2.4 times

Lenskart raises $100 mn from ChrysCapital, plans global expansion

Eyewear company's $4.2 bn valuation is unchanged from last year's funding round: Sources

Aviom Housing Finance raises $30 mn from Nuveen to expand mkt reach

Aviom India Housing Finance on Tuesday announced a USD 30 million fundraise from global investment management firm Nuveen in a new funding round. The New Delhi-based company will be deploying the fresh funds to expand its market reach and further strengthen its operational capacities, a statement said. Existing investor C4D Partners has partially exited its holding in the company by selling stake to Nuveen, it said, without divulging the exact stake sold or the money paid by Nuveen in the secondary deal. Aviom caters to low-income households in rural and semi-urban areas, providing them with construction, improvement, sanitation, and renovation loans. Its founder, managing director and chief executive Kajal Ilmi said the newly raised funds will support its efforts on amplifying the company's market reach. The statement said C4D Partners has achieved excellent returns on their investment, and added that since the investment, gross loan portfolio has grown seen times, employee stren

Titagarh to raise Rs 288 cr via share allotment to Smallcap World Fund

Titagarh Rail Systems Ltd, formerly known as Titagarh Wagons, said that its board has approved a proposal to raise Rs 288.80 crore through preferential allotment of shares to Smallcap World Fund Inc. Following the completion of the share allotment, the investor will hold roughly 5.98 per cent stake of the wagon maker. In a regulatory filing, the company said the board, at its meeting held on Saturday, considered and approved the raising of funds through the issuance of up to 76 lakh equity shares of the face value of Rs 2 each to Smallcap World Fund Inc, a part of Capital Group and one of the largest financial investors, on a preferential basis. The shares will be issued at a rate of Rs 380 per share, as compared to the floor price of Rs 347.68 a piece. Notably, Titagarh Rail Systems, in partnership with Ramkrishna Forgings, is in the process of setting up a train wheel manufacturing plant. The company has also secured an order for 80 train sets from Indian Railways, in collaborat

Software firm Capillary Technologies raises $45mn in Series D round

Funds raised from consortium of investors will be crucial for global expansion efforts and to support M&A strategy, says Capillary

PhonePe raises another $100 mn from General Atlantic as part of $1 bn plan

The company has raised a total of $850 million from several global investors, including $550 million from General Atlantic alone

Adani Enterprises to hold board meeting to approve proposal to raise funds

Adani Enterprises Ltd said on Wednesday that the company's board will hold a meeting on May 13 to approve a proposal to raise funds

Distribution and logistics platform Ripplr raises $40mn to expand footprint

Tech distribution and logistics platform Ripplr on Wednesday said it has raised $40 mn in a Series B round led by Fireside Ventures

TPG-backed RR Kabel files for IPO to raise up to $27.5 million

Indian wire and cable maker RR Kabel Ltd., backed by private equity firm TPG, filed for an initial public offering on Sunday, seeking to raise up to $27.53 million

ZestIoT raises $6.5 million in funding round led by IvyCap Ventures

Tech startup ZestIoT on Wednesday said it secured USD 6.5 million, about Rs 51 crore, in a funding round led by IvyCap Ventures. The round also saw participation from global venture fund Loyal VC. "The proceeds will be directed towards revolutionizing the aviation industry, enabling faster turnaround of aircraft and enhancing passenger experience," ZestIoT said in a statement. Founded in 2016 by Amit Sukhija, ZestIoT provides GroundRadar platform which brings together airlines, airports, and handlers to collaborate and increase the speed of aircraft turnaround while maintaining operational efficiency and safety. With the latest investment, ZestIoT will double down on deep tech AI-driven automation, expand its talent pool, expand internationally, and prioritise customer success. "This new investment will accelerate our mission to empower the aviation ecosystem with last-mile digitization and automation, delivering multiple use cases to airports, airlines, and handlers based on thei

CIEL Group to raise Rs 150-Rs 200 cr in FY 2023-24, says official

Staffing solutions provider CIEL Group has planned to raise Rs 150 to Rs 200 crore this financial year to fund its acquisition plans, a top official said here on Wednesday. The city-based company had recorded revenues of over 57 percent in FY 2022-23 to register Rs 850 crore, CIEL Group executive chairperson K Pandiarajan said. "We are planning to infuse around Rs 150 to Rs 200 crore through private equity and we have retained one of the most respected investment bankers for the purpose." MaFoi and CIEL Group executive chairperson K Pandiarajan told reporters here. The funds raised would be deployed for the current acquisition targets of seven companies mainly in the professional staffing segment, human resource technology domain among others, he noted. "Out of the seven companies, we believe four will be acquired during this year and we intend to deploy the funds for this purpose and we also deploy a significant part of the funds towards strengthening the digital properties," he

Green hydrogen player Ohmium raises $250 mn from TPG; to ramp up capacity

Green hydrogen company Ohmium International on Wednesday announced a USD 250 million fund raise, which will be deployed to ramp up its electrolyser manufacturing activities in India, among other purposes. The US-headquartered company that designs, manufactures, and deploys advanced proton exchange membrane (PEM) electrolyzer systems already has a sizeable presence in India, with its country headquarters in Bengaluru, and manufactures here. It has raised the money in a round led by TPG Rise Climate, and also saw participation from Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group, a company statement said. "The company has substantial part of its capacity in India. A large part of the money raised will be used for scaling up the capacity in India, a banker involved in the deal said. It looks at India as a manufacturing hub with a potential to deliver products at lower costs, the banker said, adding that the investm

IndiGrid raises Rs 1,140 cr via NCDs, to use funds for refinancing

India Grid Trust on Thursday said it has raised Rs 1,140 crore through long-term non-convertible debentures from International Finance Corporation. India Grid Trust (IndiGrid) is the first infrastructure investment trust in the power transmission sector. India Grid Trust has announced that IFC (International Finance Corporation) has subscribed to a listed NCD (non-convertible debenture) issuance of IndiGrid, aggregating to Rs 1,140 crore, according to a statement. With a total tenure of 18 years, the NCDs were priced at a competitive rate that is fixed for a long tenure. The company plans to utilise this debt for funding its upcoming refinancing opportunities in FY24, it added. "This long-term financing from IFC is in alignment with IndiGrid's strategy aimed at ensuring a robust balance sheet," Harsh Shah, Chief Executive Officer of IndiGrid, said in the statement. "Our support will help expand and diversify capital sources for critical power infrastructure, demonstrating the ...