India Digest: Zerodha’s ESOP buyback; FabAlley parent snags $2.7m; Shriram Housing raises loan

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Online stockbroking platform Zerodha will buy back employee stock ownership plans (ESOPs) worth Rs 65 crores while High Street Essentials has raised about $2.7 million. Meanwhile, Shriram Housing Finance has raised a long-term loan of Rs 250 crore.

Zerodha to buy back ESOPs

Online stockbroking platform Zerodha will buy back employee stock ownership plans (ESOPs) worth Rs 65 crores from about 700 employees. The proposed buyback will benefit around 50-60 of the ESOP holders in a big way, MoneyControl reported, quoting the company’s CEO Nithin Kamath. The move is primarily aimed at providing liquidity to its employees as it nears a decade since its founding in 2010. The company has no intention to raise fresh capital for the next two years.

High Street Essentials snags $2.7m

Delhi-based fashion house High Street Essentials Pvt. Ltd. (HSE), the owner of FabAlley and Indya brands, has raised about $2.7 million (Rs 20.75 crore) in a pre-Series C round of funding led by existing investors SAIF Partners and India Quotient. Angel investor Abhishek Dalmia and several family offices also participated. The startup will use the funds to expand its brands’ direct-to-consumer model, including offerings such as subscription-based services and catalogue curation.

Shriram Housing raises long-term loan

Shriram Housing Finance Ltd (SHFL) on Monday said it has raised a long-term loan of Rs 250 crore from banks from a state-run bank at 8.50 per cent, repayable in five years. The company has also raised Rs 40 crore through non-convertible debentures (NCDs) route under the RBI’s targeted long-term repo operations (TLTRO 2) at an annualised coupon of 8.55 per cent, per a company statement. So far this year, the company has raised over Rs 700 crore.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.