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Jhunjhunwala-backed DB Realty likely to raise up to Rs 1,500 cr via QIP at Rs 258 per share

Money Control

Money Control · 1y ago

Jhunjhunwala-backed DB Realty likely to raise up to Rs 1,500 cr via QIP at Rs 258 per share

Mumbai-based real estate firm DB Realty is expected to raise up to Rs 1,500 crore through a qualified institutional placement (QIP) at a price of Rs 258 per share. The funds will be used for business development and loan repayment. The QIP has a base size of Rs 1,000 crore with an option to raise another Rs 500 crore. The indicative price represents an 8.5% discount from the current market price. DB Realty faced challenges in the past due to legal issues, but a successful fundraising could mark a turnaround for the company.

Related News

Knowledge Realty REIT raises Rs 1620 crore from anchor investors ahead of IPO; Jhunjhunwala among investors

Economic Times

Economic Times · 1m ago

Knowledge Realty REIT raises Rs 1620 crore from anchor investors ahead of IPO; Jhunjhunwala among investors

Knowledge Realty Trust REIT has raised Rs 1,620 crore from anchor investors ahead of its IPO, with investors including LIC, Jhunjhunwala Trust, and others. The IPO, set to open for public subscription, aims to raise Rs 4,800 crore through a fresh issuance. The funds will primarily repay existing debt. This marks the first REIT IPO under Sebi's new regulations. The sponsors include Sattva Developers, with Axis Trustee and Knowledge Realty Office Management Services managing the issue.

DB Realty leases 186 acres of land in Mira Road to BMC for Rs 248 cr annual rent

Money Control

Money Control · 1y ago

DB Realty leases 186 acres of land in Mira Road to BMC for Rs 248 cr annual rent

DB Realty has handed 186 acres of its land to the Mumbai Civic Body for a period of three years, with a possible extension of two more years. The land has been given at a price of Rs 248 crore ($33.6 million) for the construction of the coastal road project. DB Realty's Mira land has a development potential of over 50 million square feet and is expected to be used for an integrated township once infrastructure is completed. The company has also changed its name to Valor Estate Limited.

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

IndianStartupNews

IndianStartupNews · 1y ago

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

Bajaj Finance, a subsidiary of Bajaj Finserv, plans to raise Rs 10,000 crore through a combination of Qualified Institutions Placement (QIP) and Preferential Issue (PI). The company will raise up to Rs 8,800 crore through equity shares via QIP and an additional Rs 1,200 crore through a preferential issue of warrants. The funds will be used for business expansion and to strengthen the company's capital base. After the preferential issue, Bajaj Finserv's holding in Bajaj Finance will increase to 52.57%.

Advent, Jhunjhunwala family-backed companies get SEBI nod for IPO

VCCircle

VCCircle · 10m ago

Advent, Jhunjhunwala family-backed companies get SEBI nod for IPO

Two companies backed by Advent International and the Jhunjhunwala family have received approval from the Securities and Exchange Board of India (SEBI) for their initial public offerings (IPOs). Packaging products maker Manjushree Technopack, backed by Advent, plans to raise INR 3,000 crore, using INR 500 crore to pay off debt. Healthcare technology company Inventurus Knowledge Solutions, backed by the Jhunjhunwala family, has submitted IPO documents for the offer for sale of shares held by existing shareholders. As of March 2021, Inventurus had 800 healthcare organizations as clients.

Zomato To Launch INR 8,500 Cr QIP In December

Inc42 · 10m ago

Zomato To Launch INR 8,500 Cr QIP In December

Food delivery company Zomato has chosen Morgan Stanley as its investment bank for its qualified institutional placement (QIP) fundraising. It may also bring on board one or two more investment banks for the same purpose. Zomato recently received board approval to raise up to INR 8,500 Cr (approximately $1 billion) through the QIP.

Power Grid to raise Rs 6,000 crore via bonds, check stock reaction

Business Today

Business Today · 5m ago

Power Grid to raise Rs 6,000 crore via bonds, check stock reaction

Power Grid Corporation plans to raise Rs 6,000 crore through bonds issued via private placement. The bond issuance has a base size of Rs 1,500 crore with an oversubscription option of Rs 4,500 crore, bringing the total potential issue size to Rs 6,000 crore. The bonds have a 10-year tenure, annual interest payments, and will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO

Entrackr

Entrackr · 3d ago

Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO

Exclusive: Incred to raise Rs 1,500 Cr via fresh issue in IPO InCred Holdings is preparing for an IPO with a total issue size pegged at $460-560 million. As part of the offer, the fintech firm is set to raise Rs 1,500 crore (around $172 million) via a fresh issue of shares. According to the internal documents reviewed by Entrackr, the company’s board will approve a resolution to issue equity shares worth up to Rs 1,500 crore in a fresh issue. The firm is also planning to raise Rs 300 crore through a pre-IPO placement, which will be counted as part of the fresh issue. The documents further indicate that InCred Holdings is in the process of submitting its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company’s shares will be listed on both the BSE and NSE following regulatory approvals. Founded by Bhupinder Singh, InCred operates as a tech-first non-banking financial company (NBFC), focusing on consumer, SME, and education lending. The group claims to leverage proprietary risk analytics, data science, and digital-first operations to serve retail and MSME borrowers across India. The InCred Group operates three entities: InCred Finance, InCred Capital, and InCred Money. InCred Finance has raised over $370 million to date, including $60 million in its Series D round, which also marked its entry into the unicorn club. Meanwhile, InCred Capital, which oversees wealth and asset management, M&A advisory, capital markets, equity research, and broking, secured $50 million in funding, led by a clutch of family offices. On the financial side, InCred Finance has reported a 47% year-on-year increase in its revenue to Rs 1,872 crore in FY25 from Rs 1,270 crore in FY24. At the same time, the profits of the firm grew 18% to Rs 374 crore. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

UGRO Capital Raises INR 1,265 Cr Via CCDs & Warrants; 5% Lower Than Intended

Inc42 · 1y ago

UGRO Capital Raises INR 1,265 Cr Via CCDs & Warrants; 5% Lower Than Intended

UGRO Capital has allocated Compulsorily Convertible Debentures (CCDs) worth INR 258 crore and warrants worth INR 1,007 crore to investors. Previously, the company's board had approved a capital raise of INR 1,333 crore. UGRO Capital attributed the deficit in the capital raise to the uncertainty surrounding the election results and resulting market fluctuations.

Prestige Group hospitality arm files DRHP with SEBI to launch Rs 2,700-cr IPO

YourStory

YourStory · 4m ago

Prestige Group hospitality arm files DRHP with SEBI to launch Rs 2,700-cr IPO

Prestige Hospitality Ventures Ltd, an arm of realty firm Prestige Estates Projects Ltd, has filed for an initial public offering (IPO) to raise up to Rs 2,700 crore. The IPO involves a fresh issue of shares worth Rs 1,700 crore and a Rs 1,000 crore offer-for-sale by the promoter. Prestige Estates, a leading real estate developer, plans to enhance its hospitality portfolio, which includes seven hotels and several ongoing and upcoming projects.

Swan Energy to raise ₹4,000 crore via QIP to be launched in Feb

Thehindubusinessline

Thehindubusinessline · 1y ago

Swan Energy to raise ₹4,000 crore via QIP to be launched in Feb

Swan Energy plans to raise around ₹4,000 crore through a QIP (Qualified Institutional Placement) of shares to reduce debt and finance expansion and modernization of Reliance Naval and Engineering shipyard. The QIP, expected to be launched on February 20, may have a share price range of ₹680-700. SBI Life Insurance, SBI Mutual Fund, and Life Insurance Corporation are likely to be anchor investors. Swan Energy's debt stands at ₹3,600 crore, and it reported a net profit of ₹274.6 crore in the nine months of FY24.

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