Electric two-wheeler company Ola Electric Mobility is planning to raise a fresh round of $250-300 million in growth equity to expand two-wheeler operations and fund its planned battery facility, The Economic Times reported, citing people with knowledge of the matter.
Ola Electric raised $200 million in January last year from investors such as Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others at a $5 billion valuation. The company is expecting an up round that may see it valued at $6.5-7 billion, based on the expectation of turning EBITDA positive from FY24.
Private hospital chain Jupiter Hospital will file draft red herring prospectus (DRHP) for a Rs 900-1,100-crore initial public offering (IPO) with stock market regulator Sebi early next month, The Economic Times reported, citing people aware of the development.
The proposed IPO will have both fresh issue of shares and offer for sale components, they said.
The Mumbai-headquartered company focused on Western India plans to utilise the proceeds for expansion of the hospital network and possible debt reduction. It does not have private equity investors.
ACRE
Ares SSG Capital-backed Asset Care and Reconstruction Enterprise (ACRE) has submitted a revised binding offer to the State Bank of India (SBI) to buy the loans given to Visa Steel amid intensifying competition from other asset reconstruction companies making counteroffers, The Economic Times reported, citing two people aware of the deal.
ACRE, an ARC, has given a revised offer of Rs 243 crore as against its previous offer of Rs 230 crore, the people said.
