Smartworks has secured approximately $20 million from anchor investors ahead of its IPO, while Varthana has raised Rs nearly $18.6 million in debt funding from a three global investors.
Smartworks raises $20m ahead of IPO
Managed office space provider Smartworks has secured nearly $20 million (Rs 174 crore) from anchor investors ahead of its IPO, which opens for subscription on July 10.
The anchor round attracted participation from around a dozen institutional investors, including Tata Mutual Fund, Aditya Birla Sun Life, Axis Mutual Fund, and SBI General Insurance, Entrackr reported.
According to a filing with the Bombay Stock Exchange (BSE), the company allotted 42.66 lakh equity shares to anchor investors at a price of Rs 407 per share. Other notable participants in the anchor book include Baroda BNP Paribas Mutual Fund, Trust Mutual Fund, Societe Generale, and Buoyant Capital.
Established in 2016, Smartworks offers customised, fully serviced, and tech-enabled office spaces to enterprises.
Varthana raises $18.6m from global investors
Bengaluru-headquartered non-banking financial company Varthana has raised nearly $18.6 million (Rs 159 crore) in debt funding from three global investors, including BlueEarth Capital, Franklin Templeton Alternative Investments (Franklin Templeton AIF), and responsAbility.
The firm will use the capital to expand its affordable private school network across India and help integrate solar and renewable energy infrastructure in its partner schools.
“The investment from BlueEarth Capital and Franklin Templeton AIF will strengthen our network of affordable private schools, while the investment from ResponsAbility will support the integration of clean energy solutions by fostering sustainability and long-term resilience in school operations,” Steve Hardgrave, CEO of Varthana, said in a statement.
