Articles for tag: Battling, Crore, dues, Financial, Investor, Raise, Seeks, Significant, Skepticism, SpiceJet, Turmoil

September 19, 2024

Amid financial turmoil, SpiceJet seeks to raise Rs 3,000 crore, battling significant dues and investor skepticism.

SpiceJet, facing significant financial challenges with dues over Rs 601 crore, has successfully attracted interest for its Rs 3,000 crore share sale to qualified institutional buyers. The placement has reportedly been oversubscribed, drawing attention from various investors, including several family offices. The funds raised will be crucial for the airline to settle outstanding statutory liabilities, ...

September 18, 2024

Market News

Business

Bluecopa, an AI-driven finance automation platform, raises .8 million for expansion and innovation in financial operations solutions.

Bluecopa, an AI-driven finance automation platform, raises $1.8 million for expansion and innovation in financial operations solutions.

Bluecopa, an AI-powered finance operations automation platform founded in 2021, has successfully raised $1.8 million in a pre-Series A funding round. This investment, led by Blume Ventures, Dallas Venture Capital, and Venture Catalysts, aims to help Bluecopa expand its Market presence, enhance its AI features, and further develop its products. The company specializes in providing ...

September 17, 2024

Market News

Business

India’s NFRA revises auditing standards to enhance accountability amid past frauds, gaining support from key financial regulators.

The National Financial Reporting Authority (NFRA) has proposed new auditing standards for group audits in India, aiming to enhance the quality and thoroughness of these audits. This revision aligns with international standards to address the deficiencies observed in past audits of listed companies and public interest entities. NFRA emphasizes the group auditor’s responsibility and the ...

September 17, 2024

Market News

Business

IRB Infrastructure Investment Trust plans ₹2,667 crore debt refinancing to eliminate external liabilities, enhancing financial stability amid mixed earnings performance.

IRB Infrastructure Investment Trust (InVIT) is set to raise Rs 2,667 crore through term loans to refinance existing debt, aiming to eliminate external debt for its six Special Purpose Vehicles (SPVs). This move will extend the loan duration and lower financing costs. Currently, InVIT manages road assets across several states, including Karnataka and Rajasthan. Although ...

September 17, 2024

Market News

Business

SpiceJet sets a floor price to raise Rs 3,000 crore amid financial troubles and declining stock prices.

SpiceJet, the budget airline, has announced a floor price of Rs 64.79 per share for selling securities to qualified institutional buyers. The airline aims to raise up to Rs 3,000 crore, following approval from its shareholders last week. According to their placement document submitted to the BSE, SpiceJet might offer a discount of up to ...

September 17, 2024

Market News

Business

BSE suspends Trafiksol IPO listing amid investor concerns over financial irregularities, following a complaint to market regulator Sebi.

The Bombay Stock Exchange (BSE) has delayed the listing of Trafiksol ITS Technologies due to investor concerns about the company’s financial health and how it plans to use the IPO proceeds. The Rs 45-crore initial public offering attracted bids worth over Rs 10,000 crore, but issues such as frequent auditor resignations and questionable spending raised ...

September 15, 2024

Market News

Business

BYJU’S faces a .2 billion lawsuit from lenders as founder disputes debt claims amid allegations of financial mismanagement.

BYJU’S faces a $1.2 billion lawsuit from lenders as founder disputes debt claims amid allegations of financial mismanagement.

BYJU’S is facing legal challenges from US lenders represented by Glas Trust, who demand repayment of a $1.2 billion Term Loan B. The founder, Byju Raveendran, claims the company’s verified debt is only around Rs 20 crore, arguing this means he may not owe anything. However, the lenders insist that both Raveendran and the Insolvency ...

September 15, 2024

Market News

Business

ICRA ESG assigns its inaugural ESG rating to InCred Financial Services, signaling a transformative step towards sustainable investment in India.

ICRA ESG Ratings Limited has announced its first Environmental, Social, and Governance (ESG) rating for InCred Financial Services, a non-banking financial company. Recently registered as a Category-I ESG Rating Provider by SEBI, ICRA ESG aims to aid investors in understanding non-financial risks and opportunities. InCred received a rating of Impact 57, categorized as Moderate. This ...

September 13, 2024

Market News

Business

SpiceJet’s shareholders approve raising ₹3,000 crore amid financial struggles, grounding of aircraft, and legal battles as shares surge.

SpiceJet has received approval from its shareholders to raise up to Rs 3,000 crore through the issuance of securities. The airline, which is facing significant challenges including financial issues, legal disputes, and a reduced fleet, aims to use these funds to meet its various obligations. In a recent regulatory filing, SpiceJet confirmed that the capital ...

September 12, 2024

Market News

Business

Amid financial turmoil, Paytm vows to regain profitability by focusing on core payments and leveraging AI for growth.

Paytm, under the leadership of founder Vijay Shekhar Sharma, is focusing on its core payment services while aiming for profitability. Speaking at the annual meeting, Sharma emphasized a commitment to compliance and continuous improvement in business operations. Recently, Paytm faced challenges, including a reported loss of Rs 839 crore in the first quarter of FY25 ...