BYJU’S in talks to raise $500 mn in debt via Term Loan B
India’s most valuable start-up BYJU’S is in talks to raise $500 million in a debt round through Term Loan B route from global investors. The ed-tech start-up has started working with Morgan Stanley for the deal, it added. OYO became the first Indian unicorn to seek debt from foreign institutional investors when it raised $660 million in July.
Delhivery plans to file for $1 billion IPO in October
Delhivery is planning to file a draft prospectus as soon as October for its initial public offering (IPO) that could raise about $1 billion as per reports. The Gurugram-based logistics and supply chain startup is targeting to list on the Indian stock exchanges before March 2022, it added. The offering is expected to include both new and existing shares.
Jhunjhunwala buys stake in Canara Bank, now owns shares of at least 3 banks
Billionaire investor Rakesh Jhunjhunwala has picked up a 1.59% stake in state-run Canara Bank, BSE data showed. He now owns 1.59% of Canara Bank or 2,88,50,000 equity shares of face value ₹10 each. Jhunjhunwala now owns shares of at least three bank stocks, including Federal Bank and Karur Vysya Bank.
Bewakoof.com raises ₹60 crore in funding led by Investcorp
Direct-to-consumer fashion brand Bewakoof.com said on Wednesday that it has raised an additional ₹60 crore in its latest funding round led by Investcorp. It also saw participation from IvyCap Ventures and Spring Marketing Capital. Following this round, Bewakoof has raised ₹170 crore in funding so far.
India among most exciting markets, to grow to $1 tn by 2025: Walmart CEO
Walmart President and CEO Doug McMillon said India is one of the most exciting markets globally that is poised to grow to over $1 trillion by 2025. “India is such a diverse market, it’s not one country in some ways…so we’ve to think local and execute locally,” he added. “It has its own rules…we’ve…to comply with those rules.”
ICICI Bank files ₹563-cr cheating case against Karvy Stock Broking
CICI Bank has filed a case against Karvy Stock Broking promoter C Parthasarathy and others for allegedly cheating the bank to the tune of ₹563 crore. Funds raised by Karvy by pledging shares of its six bankers were transferred to the firm’s bank accounts, and not into ‘Stock Broker Client Account’