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    altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating.

    • Just In

    MBEL IPO Opens July 30: INR 650 Crore Issue with Price Band INR 366–385

    Latest News Posted on  —by Salil Urunkar

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    MBEL IPO

    Mumbai: M & B Engineering Limited (MBEL) has announced that its ₹650 crore Initial Public Offering (MBEL IPO) will open for subscription on Wednesday, July 30, 2025, and close on Friday, August 1, 2025.

    The company has set a price band of ₹366 to ₹385 per equity share with a face value of ₹10 each. The Anchor Investor Bidding will begin a day earlier, on Tuesday, July 29, 2025.

    The MBEL IPO includes a fresh issue of shares worth ₹275 crore and an offer for sale (OFS) amounting to ₹375 crore by the promoter and promoter group shareholders, including Girishbhai Manibhai Patel, Chirag Hasmukhbhai Patel, and others.

    Also Read: Tata BlueScope Steel Advances Green Construction with PRISMA Steel

    Bids can be placed for a minimum of 38 equity shares and in multiples thereafter. The issue will be listed on both NSE and BSE, with NSE designated as the lead stock exchange. The Red Herring Prospectus (RHP) has been filed with the Registrar of Companies (RoC), Gujarat, Ahmedabad.

    The net proceeds from the fresh issue will be used for:

    • Capital expenditure: Purchase of machinery, building upgrades, solar rooftop installation, and transport vehicles – ₹130.58 crore
    • IT software upgrades – ₹5.2 crore
    • Repayment/prepayment of term loans – ₹58.75 crore
    • General corporate purposes
    MBEL IPO Allocation Structure
    • Qualified Institutional Buyers (QIBs): At least 75% of the net offer
    • Up to 60% of the QIB portion reserved for Anchor Investors
    • 5% of QIB allocation reserved for mutual funds
    • Non-Institutional Investors (NIIs): Up to 15%
    • Retail Individual Investors (RIIs): Up to 10%
    • Eligible Employees: Reserved portion with applicable discount, if any

    Also Read: BlackCarrot Secures Investment from Venture Catalysts to Scale Toxin-Free Tableware

    All categories, except anchor investors, must apply via the Application Supported by Blocked Amount (ASBA) method. UPI is mandatory for retail applicants. Anchor investors cannot participate via ASBA.

    Lead Managers

    The MBEL IPO is being managed by Equirus Capital Private Limited and DAM Capital Advisors Limited as the Book Running Lead Managers (BRLMs).

    The offering aligns with MBEL’s strategic goals of expanding its manufacturing capabilities and enhancing its operational efficiency, reinforcing its position in the Indian engineering sector.

    RHP Download: Click here

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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