Morning Buzz: SBI to raise Rs10,000 crore in tier-I bonds, Indian startups record lowest investment in last four years, and more
Here are the top business headlines to get your day started
State Bank of India is looking to raise Rs10,000 crore through additional tier 1 (AT1) bonds.
Image: Niharika Kulkarni/NurPhoto via Getty Images
SBI seeks to raise Rs10,000 crore in tier-I bonds
State Bank of India is looking to raise Rs10,000 crore through additional tier 1 (AT1) bonds. This is likely to take place this week, tentatively on July 13. The main purpose will be to bring in capital for growth and replacing bonds which are going to mature. Bank officials have said that of the total bond issuances planned for FY24, nearly half would be AT1 bond offerings.
(Business Standard)
Investment in Indian startups in H1 2023 lowest in the last four years: PwC report
Funding in Indian startups in the first half of this year has been the lowest seen in the past four years, a PwC startups report says. The funding in H1 this year was $3.8 billion through 298 deals, compared to $5.9 billion for the corresponding period, last year. Fintech, SaaS and D2C businesses were the most funded. A pickup in investments could start being seen in the next 8-12 months.
(Times of India, Economic Times, Business Standard, Mint)
Adani raises $1.4 billion from stake sale in 3 companies; $9 billion raised in four years
Billionaire Gautam Adani has raised $1.38 billion ( Rs11,330 crore) from stock sales in three group firms, bringing the total amount raised over the past four years to $9 billion. This is part of the larger capital raising plans which the group had indicated, first in 2016, and could be both in the form of debt-equity.
