Agri-centric Samunnati seeks fresh financial resources and potential new investors for its capital
In the bustling world of Indian finance, several significant developments have taken place recently. Here's a roundup of the latest fundraising news involving three key players: Samunnati Group, Indel Money, and Varthana Finance.
Samunnati Group Secures Funding
The Chennai-based Samunnati Group, an agricultural financier and trade-service provider, has raised over Rs 381 crore ($43 million) in the pre-series E round. The group, which plans to raise additional funds this year, received capital from an affiliate of Elevar Equity. However, the specific details about the investor and the intended use of the fresh funds were not disclosed.
Indel Money Seeks First Institutional Investor
Indel Money, a gold-loan Non-Banking Financial Company (NBFC), is on the hunt for its first external institutional investor. While no specific details about the investor or the nature and amount of the funds sought have been revealed, it's reported that the company is considering support from financial institutions and investors to raise capital in 2023.
Varthana Finance Raises Debt
ChrysCapital-backed Varthana Finance has secured debt from BlueEarth Capital. The details regarding the nature and amount of the funding were not provided in the report.
Aavishkaar Group Considers Selling an Arm
In a separate development, the Aavishkaar Group is reportedly considering the sale of an arm due to regulatory setbacks and a stalled Initial Public Offering (IPO). More information about this potential sale is yet to be disclosed.
These fundraising activities underscore the ongoing dynamism in India's financial sector, with companies continually seeking growth opportunities and strategic partnerships. As these stories unfold, we'll keep you updated on the latest developments.
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