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Newspace raises $52 mn, the largest equity raise for an Indian defence startup
Newspace Research & Technologies (NRT), a leading drone manufacturer in India's defence sector, has secured $52 million in a bridge round, marking a significant equity raise. The funding includes $33 million in equity from prominent investors and $19 million in debt facilities from SBI’s startup hub and SIDBI. NRT, specializing in swarm drone technology, collaborates with the Ministry of Defence and aims for global expansion, having demonstrated swarm drone operations in Japan.
Juniper Hotels shares list at 1% premium over issue price
Juniper Hotels' shares listed at a premium on NSE and BSE. The IPO scraped through with 2x subscription. The company raised Rs 810 crore from anchor investors. The net proceeds of Rs 1,500 crore will be used for repayment and general corporate purposes. Juniper Hotels is co-owned by Saraf Hotels and Two Seas Holdings, an affiliate of Hyatt Hotels Corp.
Hyatt-owner Juniper Hotels' Rs 1800-cr IPO opens: Should you bid for this loss-making company?
Juniper Hotels' IPO aims to raise around Rs 1,800 crore. The company's asset-heavy business model and loss-making status have led to mixed views among analysts. The IPO has a price band of Rs 342-360 per share.
Juniper Hotels raises Rs 810 crore from anchor investors ahead of IPO
Foreign and domestic institutions who participated in the anchor round were Fidelity, Kotak Mahindra MF, Government Pension Fund (Norges), White Oak, Schroder, The Prudential Assurance Company(MNG), Invesco, ICICI Prudential Life, HDFC Life among others. Of the total anchor sale, 75 lakh equity shares were allotted to 7 domestic mutual funds through a total of 15 schemes amounting to Rs 270 crore, which makes up for 33.33% of the anchor book size.
Juniper Hotels sets price band of Rs 340-362 for its Rs 1,800-crore IPO
Juniper Hotels IPO is entirely a fresh equity issue with no offer for sale (OFS) component. Investors can bid for 40 shares in one lot and in multiples thereafter. About 75% of the IPO is reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10% for retail investors.
Real estate consultancy firm Anarock raises Rs 200 crore from 360 one asset management
Anarock, a real estate consultancy firm, has secured Rs 200 crore funding from 360 one asset management limited. The funds will be used to enhance the company's tech infrastructure, accelerate expansion, and introduce new innovations. This investment will fuel further innovation and growth, helping Anarock maintain its leadership position in the industry. The capital will be used for faster business expansion and improving proprietary proptech platforms.
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Stocks in news: Titan, Marico, Bajaj Auto, Adani Wilmar, Tata Steel
Consumer discretionary major Titan Co saw 22% revenue growth for the third quarter ended December. The growth was broad-based as most of the segments put up a healthy performance during the quarter.
New spin on a revolving door: Pentagon officials-turned-venture capitalists
Retiring generals and departing top Pentagon officials once migrated regularly to the big established weapons makers such as Lockheed Martin Corp. and Boeing Co. Now, they are increasingly flocking to venture capital firms that have collectively pumped billions of dollars into Silicon Valley-style startups.
Innova Captab IPO: Company laps up Rs 171 crore from anchor investors ahead of Thursday’s opening
As per the filing to the exchanges, 6 domestic mutual funds have applied through a total of 8 schemes accounting for 44.88% of the anchor investor portion. The amount raised through them is over Rs 76.74 crore, the filing said.
India Shelter Finance collects Rs 360 cr from anchor investors ahead of IPO
Goldman Sachs Funds, ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, UTI MF, Nippon India MF, Quant MF, Edelweiss MF, Bandhan MF, Tata MF, ICICI Prudential Life Insurance Company Ltd, SBI Life Insurance Co Ltd, and Max Life Insurance Company are among the anchor investors.
Can tech be a shield? Understanding technology's role in combating domestic violence
While technology is seen as a double-edged sword, with perpetrators using it to stalk and harass victims, there are emerging tech solutions aimed at preventing and addressing domestic violence.
Kae Capital closes Winners Fund II at Rs 410 crore
The firm, which has backed startups including Zetwerk, Porter, Nazara Technologies and HealthKart, plans to invest in 20 companies through this fund.
BetterPlace appoints former Twilio exec Ved Antani as chief product and technology officer
In his previous stint, he was the general manager and vice-president of engineering and product at Twilio where he was responsible for creating a global engineering and product vision for the company. He also led efforts to enhance the engineering roadmap for Myntra to improve their progressive web apps and increase fraud detection and prevention during his tenure as the vice-president of the company.
Big Tech rebounds and prepares for transformative AI investments
Companies are hoping that artificial intelligence will be the answer to their problems and a way to refresh aging product lines that haven't changed all that much in recent years
China suffers as wearables brands make in India; Ideaforge IPO fully subscribed on day 1
Little by little, India is chipping away at the Great Wall. Last week, research firms raised their 2024 forecast for wearable device shipments from India on account of the exponential increase in demand and fall in average selling prices. Part of the reason companies can maintain a low price is because they are ramping up local assembly of products, a move that is costing China. This and more in today’s ETtech Top 5.
Sports tech: The impact player that teleports humans and gets you hooked to IPL mania on devices
Cricket, the most followed sport in India, has evolved from red ball and green tops to today's magnanimous craze for the $11 billion worth Indian Premier League. Alongside what has grown is a cartoon of a sobbing duck when a batter scored a zero to today's features ranging from a hologram technology placing commentators in studios to engrossing fans during live matches.
Samsung Display to invest $3.1 billion in OLED production in South Korea
The South Korean tech giant expects to invest $230 billion over the next 20 years to develop what the country's government called the world's largest chipmaking base, in line with efforts to boost the national chip industry.
Samsung Electronics to invest $230 billion by 2042 in South Korea chipmaking base
The plans come as other countries introduce steps to bolster domestic chip industries, including the United States which last month released details of its CHIPS Act, offering billions of dollars in subsidies for chipmakers that invest in the country.
HR technology in transformation: What to expect in 2023
. Organisations are seeking ways to streamline operations and procedures and improve their efficiency, effectiveness and agility in order to survive in the modern digital environment.
Apple’s tech supply chain shows difficulty of dumping China
It’s one thing to look outside China for other makers of toys and t-shirts. But US technology firms invested more than two decades, and tens of billions of dollars, setting up complex production chains to provide essential goods for the e-commerce boom.
SAP’s Platinum Partner SAVIC Technologies leads digital transformation for Nobel Hygiene
Nobel Hygiene joins hands with SAP’s Platinum Partner - SAVIC Technologies, to lead its digital transformation program to better engage with its customers while simultaneously improving its supply chain reliability and operational efficiency.
Syrma SGS Technology IPO: All you need to know
The price band for Syrma SGS Technology IPO has been fixed at Rs 209-220 per share.
Startup dreamers return to IT firms after layoffs; Zomato reports Rs 360 crore net loss in Q4
IT firms have been battling record attrition of late, so startups’ loss is their gain.
Fractal AI turns unicorn with $360 million funding from TPG
The transaction is a mix of primary investment and secondary share purchase from funds advised by Apax Partners. The British private equity firm will remain a majority shareholder in Fractal AI.
Mindspace REIT Q1 results: Co posts operating income at Rs 360 crore
K Raheja Corp, Blackstone-backed REIT leases 1.2 million sq ft ready offices; also leases 1.8 million sq ft under-construction space.
Ford to offer hands-free driving in Mustang Mach-E electric crossovers later this year
The BlueCruise tech will also be offered on 2021 model F-150 pickup trucks.
People in distress are dialing legal-tech startups
Currently, as per the data compiled by the National Judicial Data Grid, there are around 3.29 crore cases pending in the various courts in India.
Qiku sells entire stock of QTerra in an hour
Qiku announced its entry into India with the Q Terra 808 in India in November 2015, which was priced at Rs 19,999.
Uber’s quest to win over China faces WeChat hurdle
WeChat has become an important promotional tool for companies trying to reach affluent Chinese.Load More
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