This will help the company maintain cash flow, enabling the business to cover its expenses, invest in growth opportunities, meet financial obligations, and complete its work orders
Over the next 12 months, the platform plans to expand its global technology hub in Bangalore to develop solutions tailored to subsidiaries of multinational corporations and large domestic enterprises
The IPO, with a price band of Rs 415-436 a share, would open for public subscription from April 3, and the proceeds from the fresh issue would be used towards debt payment, funding working capital requirements and general corporate purposes
The move has provided comfort to start-ups, but the bigger question is whether founders will be able to transfer all their money out of the bank at once, and if the system will be able to support the withdrawal process
Start-up founders are in a Catch 22 situation—in the absence of credit history and adequate collateral, they are unable to get the first line of credit and yet require timely financing to keep up with the high operational costs
