🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office

EntrackrEntrackr · 3d ago
Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office
Medial

Exclusive: Fabric maker Jain Cord raises Rs 200 Cr in Series A from Lohia family office Jain Cord, a Gurugram-based manufacturer of cotton and linen fabrics, has raised its first institutional funding of Rs 200 crore in a Series A round from the Lohia Family Office, operated under Indorama Capital Holdings Pte. Ltd. Jain Cord Industries’ board has issued 31,79,550 compulsorily convertible preference shares (CCPS) and 100 equity shares at an issue price of Rs 629 per share to raise a total of Rs 200 crore, according to its regulatory filing with the Registrar of Companies (RoC). According to Entrackr’s estimates, Jain Cord Industries is valued at around Rs 829 crore ($94.75 million) on a post-money basis. The fresh funds will be utilised for working capital requirements, repayment of unsecured borrowings, capital expenditure, and business expansion, along with supporting general operating expenses, as per the RoC filing. Founded in 1960, Jain Cord Industries is a vertically integrated textile manufacturer engaged in the production and processing of fabrics and garments. The company offers end-to-end capabilities across weaving, knitting, dyeing, finishing, and garment manufacturing, supported by modern production technologies and process-driven operations. Jain Cord is known for its woven fabrics, including corduroy and velveteen, and serves domestic and international apparel brands. It operates manufacturing facilities in Gurugram and Kosi near Mathura, with large-scale fabric and garment production capacity and a focus on quality and compliance standards. After the fresh allotment, Indorama Capital Holdings Pte. Ltd will hold a 24.13% stake in Jain Cord Industries, while the promoters’ shareholding will decline to 75.87% from 100% on a fully diluted basis. Jain Cord Industries reported revenue of Rs 783.33 crore in FY25, up from Rs 537.37 crore in FY24. Its profit reached Rs 19.97 crore in FY25 compared to Rs 12.52 crore in the previous fiscal.

Exclusive: Isprava raises Rs 250 Cr debt

EntrackrEntrackr · 2m ago
Exclusive: Isprava raises Rs 250 Cr debt
Medial

Isprava Group, a luxury home development and rental firm, raises Rs 250 crore (approximately $28.4 million) in debt from Singapore-based Luxe Opco Holdings. This marks the company’s first funding in nearly three years, following its last raise of Rs 160 crore in debt from Symphony International Holdings in January 2023. The board at Isprava Vesta Pvt Ltd (parent company of Isprava) has issued 11,95,071 compulsory convertible debentures (CCDs) at an issue price of Rs 2,091.93 each to raise the above mentioned amount, according to its filing with the Registrar of Companies (RoC). In addition, the company approved an investment of Rs 108 crore in Magnara Homes Private Limited through Optionally Convertible Debentures (OCDs), according to the filing. Isprava Group, founded in 2016 by Nibhrant Shah, Dhimaan Shah, and Rohan Lamba, builds and rents luxury homes in prime locations such as Goa, Alibaug, and Coonoor. In addition to developing and selling these properties, the company offers them as high-end vacation retreats with premium services like housekeeping and private chefs. Isprava claims to have delivered over 200 homes to date. According to startup data intelligence platform TheKredible, the Mumbai-based company has raised around $188 million to date through a mix of debt and equity. Its lead investors include the Shah Family Trust and Godrej. During the fiscal year ended March 2024, the company more than doubled its revenue to Rs 452 crore while reporting a profit of Rs 63 crore. It is yet to disclose its financials for FY25.

Download the medial app to read full posts, comements and news.