Defense startup NewSpace to raise Rs 115 Cr debt

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Defense startup NewSpace is set to raise Rs 115 crore ($13.3 million) in debt funding led by Lend Lease Company India Ltd, angel investor Ahmed Nalwala, ARA Investment with the participation of 35 other investors.

The board at Newspace passed a resolution to approve the issue of 115 compulsory convertible debentures at a face value of Rs 1,00,00,000 each to raise the above mentioned amount, according to its regulatory filing filed with RoC.

Lend Lease will lead the round with an investment of Rs 13 crore, followed by angel investor Ahmed Nalwala and…



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Defense startup NewSpace to raise Rs 115 Cr debt


Defense startup NewSpace is set to raise Rs 115 crore ($13.3 million) in debt funding led by Lend Lease Company India Ltd, angel investor Ahmed Nalwala, ARA Investment with the participation of 35 other investors.

The board at Newspace passed a resolution to approve the issue of 115 compulsory convertible debentures at a face value of Rs 1,00,00,000 each to raise the above mentioned amount, according to its regulatory filing filed with RoC.

Lend Lease will lead the round with an investment of Rs 13 crore, followed by angel investor Ahmed Nalwala and…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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