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Ola Electric raises $100 million long term debt

12Jul By AdityaNo Comments

Automobile

Ola Electric raises $100 million long term debt

TN, July 12, 2021: Ola Electric and Bank of Baroda have signed the largest long-term debt financing agreement in the Indian EV industry. This 10-year debt of US$100 million is towards the funding and financial closure of the Phase 1 of the Ola Futurefactory, Ola’s global manufacturing hub for its electric two-wheelers. Ola had earlier announced last December that it will be investing Rs 2,400 crore for setting up the Phase 1 of the factory. “Today’s agreement for long term debt financing between Ola and Bank of Baroda signals the confidence of the institutional lenders in our plans to build the world’s largest two-wheeler factory in record time. We are committed to accelerating the transition to sustainable mobility and manufacture made in India EVs for the world and we are happy th...

8Apr By AdityaNo Comments

FUNDING

Airbnb Raises $1 Billion in Debt and Equity Funding

Airbnb announced that Silver Lake and Sixth Street Partners will invest $1 billion in Airbnb in a combination of debt and equity securities. The new funding will support Airbnb’s ongoing work to invest over the long term in its community of hosts who share their homes and experiences, as well as the work to serve all stakeholders in the Airbnb community. The desire to explore, connect, have new experiences and have a comfortable place to call home are universal and enduring. And our commitment to create a greater sense of belonging for everyone, everywhere will never change.Brian Chesky, Airbnb Co-Founder, CEO and Head of Community Started in 2008, Airbnb has rapidly grown into a trusted two-sided marketplace that generates real money for millions of regular people who share the...

Bharti Airtel Board approves raising up to USD 4 billion

5Dec By Press Trust of IndiaNo Comments

FUNDING

Bharti Airtel Board approves raising up to USD 4 billion

Telecom operator Bharti Airtel's board approved raising USD 4 billion through equity dilution and debt funding. The board, for now, has given its go-ahead to raise up to USD 3 billion and has also approved raising an additional USD 1 billion, an official said. The board has given its approval to raise USD 2 billion through "one or more qualified institutional placement, public and/or private offerings of equity shares, compulsory convertible debentures/other convertible securities/warrants/ADR/GDR or a combination thereof", according to a regulatory filing. The company has received an approval to raise USD 1 billion through foreign debt instrument and another USD 1 billion through issuance of "unsecured and/or secured, listed and/or unlisted, redeemable non-convertible debentures...

2May By AdityaNo Comments

FUNDING

1-India Family Mart raises INR $2.87 million debt funding

New Delhi, May 02, 2019: 1-India Family Mart, a fast growing value retail chain owned by Nysaa Retail Private Limited offering affordable and fresh fashion apparels, lifestyle products and general merchandise has raised debt funding worth $2.87 million (INR 20 crores). The funding, led by APAC Financial Service Private Limited will be leveraged by the company for expanding to newer geographies as well as for its working capital requirements. Endeavouring to match the fashion aspirations of individuals living in small towns which they can afford, 1- India Family Mart currently stands strong with 90 stores across 81 cities of Eastern and Northern India; generating revenue over INR 400 Crores. Commenting on securing the funds, Deepak Sharma, Chief Financial Officer, 1-India Family ...

Bike rental startup Bounce raises $3 million

23Apr By PriyankaNo Comments

FUNDING

Bike rental startup Bounce raises $3 million

Bike rental startup Bounce has raised $3 million in debt funding from existing investors Innoven Capital. The funding will use to expand its operation. Till date, Bounce raised over $22.5 million in two rounds and the total debt funding from Innoven is now $6 million. As per the news, the bike rental is also in talks with Facebook co-founder Singapore based fund for further investment. Founded in 2014, the Bengaluru based Bounce has a fleet of 5,000 keyless bikes. Bounce offered premium motorcycle rentals under the Wicked Rides banner, it later added commute bikes under the Metro Bikes label, re-branded as Bounce in August 2018. Bounce currently claims to complete 24,000 rides a day and more than 1.9 million rides since inception. Since the start of its service in September ...

15May By NitishNo Comments

FUNDING

Lending Firm Raises 30 Crore Debt Funding From SBI

Gurugram based fintech platform Aye Finance raises another Rs. 30 crores debt funding from India's leading public sector bank State Bank of India (SBI). Earlier Aye Finance raises Rs 30 crores as debt financing from BlueOrchard Finance Ltd. Also, this is the second time that the SBI has extended a debt facility to Aye to lend more money to micro and small-scale enterprise financing in India. Aye finance is equity funded by three marque investors Accion, SAIF Partners, and LGT. The lending firm is looking to raise additional USD 20-25million by the end of the current quarter. Aye presently provides its service to over 10 states and boasts 72 branches in India so far. In the FY 17-18, it provided over 40,000 loans which were largely thanks to the customization of their pro...

11May By Sheldan RungasamyNo Comments

FUNDING

Mumbai-Based E-learning Platform Raises $2.3 Mn Debt Funding

Toppr, the personalised e-learning and online test preparation platform, recently raised a debt funding round worth $2.3 Mn from Alteria Capial – a new investment fund launched by Ajay Hattangdi and Vinod Murali. The Mumbai-based company was founded in 2013 by Zishaan Hayath and Hemanth Goteti to assist students preparing for competitive entrance exams such as IIT, JEE Mains and Advanced, NEET, BITSAT, etc… The company provides e-learning solutions for students from 5th to 12th Grades in programs that includes questions, solutions, concepts, practice tests, and videos for app subscribers. “The Alteria team understands the needs of entrepreneurs and is sensitive to their requirements. Venture debt has been a very useful tool to grow our business without additional dilution and we are ...