According to sources in the know, the company is attempting to raise Rs 300 crore from existing backer GII and tie up the remaining funding of about Rs. 250 crore in form of debt for which it has tapped the credit fund arms of Edelweiss and Kotak. Hero Electric has offered to provide a land parcel in Gurugram as security to potential financiers.
Dubai-based venture capital firm NB Ventures, which makes direct bets on growth-stage startups as well as limited partner-style investments in other VC funds, is aiming to start raising ..
According to sources in the know, the company is attempting to raise Rs 300 crore from existing backer GII and tie up the remaining funding of about Rs. 250 crore in form of debt for which it has tapped the credit fund arms of Edelweiss and Kotak. Hero Electric has offered to provide a land parcel in Gurugram as security to potential financiers.
The development comes at a time when Hero Electric has been facing pressure on operations with the Ministry of Heavy Industries stalling disbursal of subsidies under FAME II (Faster Adoption & Manufacturing of Electric Vehicles) in FYFY22 after receiving anonymous emails alleging that several firms including Hero Electric were claiming subsidies under the scheme without meeting the Phased Manufacturing Plan norms meant to increase indigenisation, investments and employment in India.
Mumbai-listed healthcare services provider Aster DM Healthcare Ltd has been working to separate its India and Gulf operations since late last year and is in ..