The NBFC said it sees 'tremendous growth opportunity' with regard to India’s domestic consumption growth, going forward, and the capital raise will support the company's growth aspirations for next few years.
The software firm known for its advanced NoSQL database tailored for high-performance transactional and analytical operations, said the injection of funds signals confidence in Aerospike's product offerings and business performance.
Existing investors DSG Consumer Partners, Omnivore and Alkemi Partners also participated in the funding round.
The price range for the investment vehicle was set at 1.90 dirhams to 2.30 dirhams per share, according to a statement
Over the last five years, the country notched up the highest investment volume in Asia, according to research from the Global Private Capital Association, a body representing investors.
The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing.
The board, in a meeting held on Monday, also authorised the increase in share capital from Rs 30 crore to Rs 50 crore, according to a regulatory filing.
The company, whose businesses include lending, asset management and insurance, will use the freshly raised money for augmenting the capital base, improving the solvency margin and leverage ratio and meeting the growth and funding requirements, the statement said.
The bank will continue reporting a “decent” double-digit growth, with a focus across retail, MSME and corporate loans, managing director and chief executive officer LV Prabhakar has said
YES Bank Board had on July 15 approved US based JC Flowers Asset Reconstruction Company's bid to be considered the base bid for the proposed sale of stressed assets via Swiss challenge auction.
The SBI chief added that he was sure some solutions would emerge
The move, which would be the largest such capital raise in India, is aimed at subverting liquidity squeeze created in the sector after the IL&FS debacle and subsequent busts
Analysts largely remain upbeat on the stock, citing good financials and a healthy growth to loan book.
"UP has been there at the collection deficiency at the start of the demonetisation. However, on a month-to-month basis, the collection efficiency now is close to about 90 percent compared to 40 percent in November", HP Singh, Founder & MD at Satin Creditcare told CNBC-TV18.