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News on Medial
Axis Bank taps overseas investor to raise $500 mn
VCCircle
·
6m ago
Medial
Axis Bank, India's fourth-largest lender, plans to raise $500 million from a major global financial entity to expand its green energy portfolio and increase loans for water supply projects. The move aims to bolster Axis Bank's sustainable investment initiatives, leveraging funds from a prominent overseas investor. The bank already has notable investors like Singapore's sovereign wealth fund, GIC, and this fundraising aligns with its strategic growth and investment vision in eco-friendly sectors.
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Asha Ventures taps key local LP for $90 mn VC fund
VCCircle
·
1y ago
Medial
Asha Ventures, a climate and impact-focused venture capital investor, has secured an onshore institutional investor to raise capital for its latest VC fund. The company, known for backing firms like Truemeds and Adda247, has partnered with the government-backed Self-Reliant India (SRI) as it aims to raise its maiden VC fund.
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Axis Bank won't infuse more capital into NBFC; it will tap market
Economic Times
·
1m ago
Medial
Axis Bank has pledged to the Reserve Bank of India that it will not inject new capital into Axis Finance, its finance company. Instead, Axis Finance plans to raise ₹3,000 crore through an IPO. This move aligns with RBI's guidelines, which discourage banks from overlapping business operations with their subsidiaries. Axis Finance aims to raise market capital without involving Axis Bank, ensuring compliance with regulatory directives while pursuing growth strategies.
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Fairfax-backed CSB Bank taps offshore investor for fresh capital
VCCircle
·
9m ago
Medial
CSB Bank, a private-sector lender in India backed by Fairfax, is planning to raise $100 million in capital from a global investor. The bank will use the funds to expand its lending to small businesses and self-employed individuals. CSB Bank aims to enhance its presence in the market and support economic growth by providing financial assistance to these sectors.
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Thai Credit Bank taps offshore investor for $205 mn IPO
VCCircle
·
1y ago
Medial
Thai Credit Bank is bringing in an offshore investor for a substantial cornerstone investment in its $205 million IPO. The bank has secured an equity investment of up to $30 million for the IPO, as it focuses on serving the underserved segment in Thailand.
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Pakistan's i2i Ventures taps offshore LP for maiden fund
VCCircle
·
1y ago
Medial
Pakistan's early-stage venture capital firm, i2i Ventures, is planning to raise capital from an overseas limited partner for its first fund. The i2i Venture Capital Fund I LP is aiming to raise up to $15 million to invest in pre-seed and seed-stage technology startups in Pakistan. The move reflects increasing interest and investment potential in Pakistan's tech startup ecosystem.
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Tata Capital taps offshore investor to ramp up microfinance business
VCCircle
·
1y ago
Medial
Tata Capital, the financial services arm of the Tata Group, is raising $125 million from an overseas investor to expand its microfinance business. The Mumbai-based company aims to strengthen its position in the sector after merging two of its subsidiaries.
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Physics Wallah Selects 4 Investment Bankers For $500 Mn IPO
Inc42
·
10m ago
Medial
- Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan have been shortlisted as bankers for Physics Wallah's upcoming IPO. - The proposed IPO is expected to include a combination of fresh issuance of shares and offer for sale. - The deal size is yet to be finalized but may aim to raise between $400 Mn to $500 Mn. - Physics Wallah recently raised $210 Mn in a funding round led by Hornbill Capital, effectively doubling its valuation to $2.8 Bn.
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Edelweiss Alternatives taps limited partner for climate-focussed fund
VCCircle
·
1y ago
Medial
Edelweiss Alternatives, the alternative asset management arm of Edelweiss Financial Services, is adding an international institutional investor as a limited partner for its climate-focused fund. The Edelweiss Climate Fund, launched in September 2020 with a target of raising $500 million, has received a commitment from the investor.
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Zetwerk readying draft IPO papers, may aim to raise $400-500 million
Economic Times
·
5m ago
Medial
Zetwerk, a $3 billion manufacturing startup, plans to file for an IPO within six months, aiming to raise $400-500 million, targeting over a $5 billion valuation. The IPO will include a small secondary component, and Zetwerk has appointed Axis Bank, Goldman Sachs, and Kotak Mahindra as bankers. The company is expanding globally, with significant orders and a pre-IPO funding round of $100 million. Zetwerk's revenue grew by 25% to Rs 14,436 crore, despite increased losses due to strategic shifts.
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ED fails to find breaches in Paytm Payments Bank's overseas transactions so far
VCCircle
·
1y ago
Medial
India's Enforcement Directorate has not found any foreign exchange violations in its investigation of overseas transactions by Paytm Payments Bank. However, some lapses related to know-your-customer rules have been identified. The bank is still under scrutiny for potential violations, and authorities are considering whether to bring charges. Paytm's shares have plummeted over 50% since the Reserve Bank of India's announcement that the bank could no longer accept new funds. Despite this, Paytm recently signed on new banking partner Axis Bank to try to keep its operations running.
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