Page 4 - Fundings

Beauty products platform Purplle raises Rs 1,500 cr in funding round

Subsidiary of Abu Dhabi Investment Authority leads in committing investment

Oyo likely to raise $200 million at 2x valuation of $4.5-5 billion

OYO to refinance its $450 mn of outstanding debt

Jewellery retailer GIVA raises Rs 255 cr in Series B funding round

Jewellery retailer GIVA on Monday said it has raised Rs 255 crore in a funding round, as it looks to expand its offline presence and bolster its lab-grown diamond offerings. The extended Series B funding round was led by Premji Invest, Epiq Capital, and Edelweiss Discover Fund, with participation from GIVA's top management. GIVA plans to use the funds for expansion across India and to enable strategic investor exits, the company said in a statement. The round facilitated partial exits for early investors A91 Partners and India Quotient. "Our focus remains steadfast on holding our position as the number one silver jewelry player in the market, while further fortifying our lab-grown diamond segment," GIVA Founder and CEO Ishendra Agarwal said. The company also aims to broaden its gold offerings and consolidate its market presence, Agarwal added. GIVA did not disclose the new valuation or the size of the stakes sold by existing investors.

India's gaming sector to double topline in 4 years despite funding slowdown

Companies in the social and casual gaming sector earned Rs 13,800 crore in 2023 and are expected to reach Rs 36,600 crore in topline in the next five years

LC Nueva Investment announces new venture capital fund to raise Rs 250 cr

LC Nueva Investment Partners has announced its second venture, LC Nueva Momentum Fund, with total target corpus size of Rs 250 crore. LC Nueva Investment Partners is a partnership between Singapore's Lighthouse Canton and Delhi-based Nueva Capital. "The new LC Nueva Momentum Fund focuses on investing in 10-15 high-growth companies at the Series A, B and growth stages. The target size of the new fund is Rs 150 crore (about USD 18 million), with a greenshoe option of Rs 100 crore (USD 12 million)," the venture capital firm said in a statement. LC Nueva Investment Partners had in 2023 closed its LC Nueva Fund at Rs 350 crore. "We are confident that our strategic focus on high-potential investments will position LC Nueva Momentum Fund to achieve exceptional returns. By actively pursuing secondary opportunities alongside leveraging the strong relationships established through our previous fund, we are poised to navigate the current market dynamics effectively," Sohil Chand, Founding ...

XDLINX Space Labs raises $7 mn in seed funding from Lucky Investments

Founded in 2022 in Hyderabad, XDLINX Space Labs aims to make satellite technology accessible to a broader range of clients

NBFCs turning to alternative funding sources amid slower bank loans

This shift has been spurred by changes in banking regulations, making it more difficult for NBFCs, especially those with lower credit ratings, to secure bank funding

State-owned Punjab National Bank raises Rs 5,000 crore through QIP issue

State-owned Punjab National Bank (PNB) has raised Rs 5,000 crore through an issue of equity shares to qualified institutional players. The bank allocated about 48.19 crore equity shares at an issue price of Rs 103.75 per share, which was at a discount of 4.96 per cent to the floor price of Rs 109.16 per share, PNB said in a statement. The bank's QIP issue was open for subscription from September 23 to 26, 2024, it said. "The bank received Bids from Qualified Institutional Buyers (QIBs) including Mutual Funds, Foreign Portfolio Investors (FPIs), Insurance Companies, etc., to the tune of Rs 41,734 crore for the QIP Issue, which is 16.7 times the base issue size of Rs 2,500 crore and 8.3 times the total issue size of Rs 5,000 crore," it said. The amount of capital raised through QIP issue will augment the bank's CET-1 Ratio and the overall Capital Adequacy Ratio, it added.

Godrej Properties to consider raising funds via securities in Oct 1 meet

Realty firm Godrej Properties on Thursday said its board will meet on October 1 to consider a proposal to raise funds through the issue of securities. The company did not disclose the amount it wants to raise. In a regulatory filing, Godrej Properties informed that a meeting of the board of directors is scheduled to be held on October 1 to discuss and consider the proposal to raise funds by way of the issue of equity shares, or any other eligible securities and/or instruments. The issue of securities could be through public and/or private offerings, including qualified institution placements, preferential issues, rights issues, further public offers or any other permissible method. Godrej Properties is one of the leading developers in the country. It has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. It has entered into Hyderabad market recently. In the last fiscal, the company's sales bookings jumped 84 per cent to a record Rs 22,527 crore, t

Startup firm Whatfix raises $125 mn in Series E round led by Warbug Pincus

Supporting 80+ Fortune 500 companies, Whatfix registered top-decile performance with a 4.5x increase in annual recurring revenue since 2021 round, with new products contributing 15 per cent of revenue

SpiceJet raises Rs 3,000 cr through QIP, to receive additional Rs 736 cr

With the latest capital infusion, SpiceJet plans to strengthen its operations, expand its fleet, and extend its network to meet growing passenger demand in the country

SpiceJet raises Rs 3,000 crore through QIP, to receive additional Rs 736 cr

Domestic carrier SpiceJet on Monday said it has raised Rs 3,000 crore through a Qualified Institutional Placement (QIP). The QIP, which opened on September 16 and closed on September 18, received an overwhelming response from qualified investors and got significantly oversubscribed, demonstrating strong confidence in the company's growth prospects, SpiceJet said in a statement. It also said the QIP attracted a diverse pool of top-tier institutional investors and mutual funds, including Goldman Sachs (Singapore), Morgan Stanley Asia, BNP Paribas Financial Markets ODI, Nomura Singapore Ltd ODI, Tata Mutual Fund, Discovery Global Opportunity Ltd, among others. In addition to Rs 3,000 crore funding, SpiceJet said it will also receive an additional Rs 736 crore from the previous funding round, further boosting its financial stability and growth plans. The newly raised capital will be used to operationalise grounded aircraft, acquire new planes, invest in technology, and expand into new

Edtech startup Physics Wallah's valuation crosses $2.8 bn with new funding

$210 mn Series B funding round led by Hornbill Capital; Physics Wallah will use funding to expand reach

NBFCs diversify funding sources amid increased lending risk weights

The asset quality of government-owned NBFCs and non-government-owned middle layer NBFCs focused on the retail line of business was also higher

Nazara Tech to raise Rs 900 crore; ups stake in Absolute Sports to 91%

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore. Nazara also announced increasing its stake in Absolute Sports to 91 per cent. The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said. "The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara's financial foundation for long-term expansion," it said. Nazara acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crores, with 50 per cent of the consideration paid in cash and the remaining

Redcliffe Labs raises $42 mn in Series C funding to expand across India

The diagnostics service provider will use the funds to open more labs and collection centres, along with an expansion of its home collection network

Centricity's valuation reaches $125 mn in funding round led by Lightspeed

Centricity plans to utilise the fresh capital to expand its operations. The company intends to double its tech development team from 75 to over 150 specialists

Godrej Properties raises Rs 64.6 cr via issue of debentures to investors

Realty firm Godrej Properties has raised Rs 64.6 crore through the issue of debentures to investors on private placement. In a regulatory filing on Tuesday, the company said a committee of the board approved the allotment of 6,460 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 1 lakh each, aggregating to Rs 64.6 crore to the identified investors on a private placement basis. The NCDs have been allotted at a coupon rate of 8.50 per cent per annum. Interest will be paid annually and on maturity. The tenor of NCDs is 5 years. Godrej Properties is one of the leading real estate developers in the country. It has a significant presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad markets.

Playbook Partners marks first close of maiden $250 mn growth fund

In response to strong institutional investor interest, the fund is using the green-shoe option and can grow up to $250 million, Playbook Partners said

Despite Byju's setback, edtech sector rebounds slightly with funding uptick

The edtech sector has attracted $215 million in funding to date in 2024, reflecting a slight improvement compared to the total $321 million secured in entire 2023