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MapmyIndia board gives nod to raise funds up to ₹500 crore via QIP route

Livemint

Livemint · 1y ago

MapmyIndia board gives nod to raise funds up to ₹500 crore via QIP route

The board of directors of MapmyIndia has approved the proposal for raising funds up to INR 500 crore ($67 million) through a qualified institutional placement (QIP) route. The funds will be raised via the issuance of equity shares, subject to necessary approvals. MapmyIndia is an Indian company and a competitor of Google Maps. It reported a net profit of INR 33 crore ($4.4 million) in the last quarter.

Related News

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%.

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.

IREDA secures Centre’s nod to raise up to ₹4,500 cr via QIP; govt aims to offload 7% stake | Mint

Livemint

Livemint · 10m ago

IREDA secures Centre’s nod to raise up to ₹4,500 cr via QIP; govt aims to offload 7% stake | Mint

The Indian Renewable Energy Development Agency (IREDA) has received government approval to raise up to ₹4,500 crore through a qualified institutional placement (QIP). This move allows the government to dilute its stake in IREDA by 7%. The Department of Investment and Public Asset Management (DIPAM) gave its approval based on a high-level committee's recommendations. The funds raised will help IREDA expand its financing for renewable energy projects and strengthen its capital base. IREDA also plans to sell up to a 10% stake to raise around ₹4,500 crore for future growth.

Reliance Infrastructure plans to raise ₹6,000 crore via share sales | Mint

Livemint

Livemint · 10m ago

Reliance Infrastructure plans to raise ₹6,000 crore via share sales | Mint

Reliance Infrastructure plans to raise up to ₹6,014 crore through a share sale and convertible warrants. This comes after the company settled its arbitration dispute with Adani Group over power distribution and a loan dispute with CFM Asset Reconstruction. The company's board has approved a preferential issue to raise ₹3,014 crore and a qualified institutional placement (QIP) to raise up to ₹3,000 crore. The funds will be used for business expansion, investment in subsidiaries, and meeting long-term working capital needs. The company's net worth is expected to increase from ₹9,000 crore to over ₹12,000 crore.

GACM Technology board approves QIP issue of up to Rs 200 cr

Economic Times

Economic Times · 29d ago

GACM Technology board approves QIP issue of up to Rs 200 cr

GACM Technology's board has approved a proposal to raise up to Rs 200 crore through qualified institutional placements (QIP). The funds will be raised in one or more tranches, subject to necessary approvals. Additionally, the board finalized a share swap agreement for acquiring stakes in MSIL (16%) and WeXL Edu Pvt Ltd (30%). The acquisition of a stake in WeXL Edu represents a strategic milestone, furthering GACM's evolution as a diversified technology group.

Zomato To Launch INR 8,500 Cr QIP In December

Inc42 · 8m 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.

PhysicsWallah plans ₹2,500 crore takeover of Drishti IAS

Inshorts · 4m ago

PhysicsWallah plans ₹2,500 crore takeover of Drishti IAS

Alakh Pandey-led edtech startup PhysicsWallah is in talks to acquire Drishti IAS coaching in a deal that could be valued at around ₹2,500 crore, reports claimed. Reports of potential acquisition come as PhysicsWallah gears up for its IPO. Earlier this month, Moneycontrol reported that PhysicsWallah filed draft papers through the confidential pre-filing route to raise ₹4,600 crore via an IPO.

Meesho files confidential prospectus for its IPO - The Economic Times

Economic Times

Economic Times · 1m ago

Meesho files confidential prospectus for its IPO - The Economic Times

Ecommerce platform Meesho has confidentially filed a draft red herring prospectus with the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO) to raise around Rs 4,250 crore ($500 million). The filing, done under Sebi’s pre-filing route, permits companies to keep prospectus details confidential. Meesho’s shareholders recently approved the IPO plan, seeking fresh capital to support the company’s growth and expansion strategies.

GK Energy, BlueStone & 2 other firms get SEBI's nod to launch IPOs

Inshorts · 4m ago

GK Energy, BlueStone & 2 other firms get SEBI's nod to launch IPOs

Anthem Biosciences, Aye Finance, GK Energy and BlueStone Jewellery and Lifestyle received approval from SEBI to raise funds through IPOs. The four companies applied for their IPOs in December 2024. The IPOs will contain fresh issue of shares worth ₹3,395 crore for Anthem Biosciences, ₹1,000 crore for BlueStone Jewellery, ₹885 crore for Aye Finance and ₹500 crore for GK Energy.

Zoomcar pockets Rs 25 Cr debt fund from Trifecta, Blacksoil and others

Entrackr

Entrackr · 1y ago

Zoomcar pockets Rs 25 Cr debt fund from Trifecta, Blacksoil and others

A week ago it was being reported that self-drive car portal Zoomcar is in talks with Mahindra and other investors to raise a $500 million round. Meanwhile, Zoomcar has been picking up debt funds since March this year. Trifecta invested Rs 10 crore via the purchase of 100 non-convertible debentures a month ago. Now, Blacksoil Capital and Mahavir Dwellers have invested Rs 15 crore and Rs 5 lakh each respectively. (Source: MCA)

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