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.