Dhani raises Rs 1,200 crores of Equity by selling a 9% stake

Dhani Services Ltd., one of India's fastest growing transactional finance and primary healthcare platform, announced an equity raise of Rs 1,200 crores for a 9% stake. Dhani is ranked at no. 3 on Google Play Store (India) in the Business category. Dhani has over 30 lac paid monthly subscriptions & 90 lac+ monthly active users.

Dhani's flagship product - OneFreedom Card provides customers with an instant credit limit along with a bouquet of additional benefits such as access to doctors, discounted medicines, instant cashbacks, free trading account and many merchant offers at a nominal monthly subscription fee starting @ Rs. 250.

The leading investor in the equity raise is General catalyst from the Silicon Valley, investing Rs. 375 crores. General Catalyst has invested in companies like Stripe in the fintech space and Livongo in digital healthcare. The investment firm is focused on early-stage and growth investments in the technology sector.

The other investors in the round include Ribbit Capital, a leading global fintech investor with early-stage investments in Robinhood, Coinbase and Revolut. The founder of Dhani is also investing Rs. 375 crores alongside the other investors in the preferential round.

Shares of Dhani Services Limited was last trading in BSE at Rs. 212.45 as compared to the previous close of Rs. 209.05. The total number of shares traded during the day was 222105 in over 4168 trades.

The stock hit an intraday high of Rs. 220.00 and intraday low of 208.00. The net turnover during the day was Rs. 47786366.00.

Source : Equity Bulls

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DhaniServices INE274G01010 FinancialServices FundRaising