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Sachin Tendulkar and others invest $18 Mn in Rayzon Solar at $844 Mn valuation

EntrackrEntrackr · 10m ago
Sachin Tendulkar and others invest $18 Mn in Rayzon Solar at $844 Mn valuation
Medial

Solar panel manufacturer Rayzon Solar is raising Rs 150 crore (approximately $18 million) in a new round from the individual investors including Harshadkumar Patel, cricket legend Sachin Tendulkar, and Divyang Patel, among others. The board at Rayzon Solar has passed a special resolution to issue 64,10,260 equity shares at an issue price of Rs 234 to raise Rs 150 crore or $18 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Harshadkumar Patel led the round with Rs 26.8 crore, followed by Sachin Tendulkar and Divyang Patel contributing Rs 5 crore each. Around 90 other individual investors also participated in the round, contributing through smaller cheques. The proceeds will be used to support the company’s business expansion and future growth plans, including meeting its long-term and short-term funding needs, as well as for general corporate purposes. Additionally, the company has also launched a new ESOP Plan 2025, which will consist of 1,00,00,000 employee stock options, filings stated. Each ESOP option will be converted into equity shares. According to Entrackr’s estimates, the newly added ESOP plan is valued at approximately Rs 234 crore (around $27.5 million). The Surat-based company will be valued at around Rs 7,170 crore or around $844 million post-allotment. This appears to be the maiden external funding round for the IPO-bound firm, as no prior funding history could be traced before this round. Founded in 2017, Rayzon Solar operates on both B2B and B2C models, manufacturing high-efficiency solar PV modules for distributors, EPC companies, and end users. The company caters to residential, commercial, and utility-scale projects across India and international markets. This funding round appears to be a pre-IPO raise, as the company is planning to go public and is expected to file its Draft Red Herring Prospectus (DRHP) soon, according to media reports. For the fiscal year ending March 2024, Rayzon Solar reported an operating revenue of Rs 1,273 crore and a net profit of Rs 61 crore, according to its standalone financial statements filed with the RoC.

Fintech unicorn Moneyview files DRHP with SEBI for Rs 1,500 Cr IPO

EntrackrEntrackr · 8d ago
Fintech unicorn Moneyview files DRHP with SEBI for Rs 1,500 Cr IPO
Medial

Bengaluru-based fintech lender Moneyview has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 1,500 crore through an initial public offering (IPO). According to the DRHP, the proposed IPO will comprise a fresh issue of equity shares worth Rs 1,500 crore, along with an offer for sale (OFS) of up to 13.6 crore equity shares by existing shareholders. Promoter and co-founder Puneet Agarwal will participate in the OFS alongside several early investors, including Accel, Ribbit Capital, and Apis Partners. The company is also considering a pre-IPO placement of Rs 300 crore. According to the DRHP, Axis Capital, IIFL Capital Services, BofA Securities India, and Kotak Mahindra Capital Company are the issue’s merchant bankers, while MUFG Intime India is the registrar. The company plans to utilize Rs 650 crore from the fresh issue to support loan disbursals through Default Loss Guarantee (DLG) arrangements, while Rs 450 crore will be infused into its NBFC arm, Whizdm Finance, to strengthen its capital base. The remaining proceeds will be used for general corporate purposes. Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview operates a credit-led digital financial services platform offering personal loans, credit score tracking, insurance distribution, and other financial products. The company primarily focuses on serving new-to-credit and underserved customers across India. The fintech platform claims to have built a user base of over 125 million, with a strong presence in Tier II and smaller cities. It works with more than 40 financial institutions, including banks, NBFCs, and insurers, to offer credit and other financial services. On the financial front, Moneyview has reported strong growth and profitability in recent years. The company recorded operating revenue of around Rs 2,379 crore in FY25, while net profit stood at Rs 240 crore during the same period. For the nine months ended December 2025 (9MFY26), the startup reported revenue of Rs 2,409 crore and net profit of Rs 245 crore.

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue

EntrackrEntrackr · 8m ago
Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue
Medial

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue Loyalty management firm Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 430 crore (approximately $50 million) and an offer for sale (OFS) of 1.83 crore equity shares, according to the DRHP. Earlier this month, the Bengaluru-based firm received the board nod for its planned Rs 2,250 crore or $265 million Initial Public Offering. Capillary Technologies International Pte. Ltd will offload approximately 77.6%, or 1.43 crore shares, of the total OFS. Other participants in the OFS include Ronal Holdings, Trudy Holdings, Filter Capital, and individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd, the promoter, holds a 65.47% stake in the company. Ronal Holdings and AVP Fund (Avataar Ventures) follow with holdings of 7.53% and 5.51%. Trudy Holdings and Filter Capital India own 4.49% and 3.66%, respectively. Capillary Technologies plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by JM Financial, IIFL Capital, and Nomura Financial Advisory, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for cloud infrastructure costs, research, design, development, and other general corporate purposes. In the previous fiscal year ended March 2025, the company recorded a 14% year-on-year growth in its revenue to Rs 598 crore, up from Rs 525 crore in FY24. It also posted a net profit of Rs 14.1 crore in FY25, compared to a loss of Rs 68.3 crore in FY24.

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