Ecozen to raise Rs 111 Cr debt from UTI and Spark Investment

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Climate-focused deeptech startup Ecozen has raised Rs 111.6 crore (around $12.5 million) in debt funding from UTI International Wealth Creator and Spark Alternative Investment fund.

According to its filing sourced from the Registrar of Companies (RoC), Ecozen’s board approved the issuance of 500 non-convertible debentures (NCDs) to Spark Alternative Investment Firm and 616 non-convertible debentures (NCDs) to UTI International Wealth Creator at a face value of Rs 10 lakh each to raise the amount as mentioned above.

The proceeds will be used for…



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Ecozen to raise Rs 111 Cr debt from UTI and Spark Investment


Climate-focused deeptech startup Ecozen has raised Rs 111.6 crore (around $12.5 million) in debt funding from UTI International Wealth Creator and Spark Alternative Investment fund.

According to its filing sourced from the Registrar of Companies (RoC), Ecozen’s board approved the issuance of 500 non-convertible debentures (NCDs) to Spark Alternative Investment Firm and 616 non-convertible debentures (NCDs) to UTI International Wealth Creator at a face value of Rs 10 lakh each to raise the amount as mentioned above.

The proceeds will be used for…



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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