Yulu To Raise $8.2 Mn From Cofounders Via Rights Issue

Yulu is raising INR 70 Cr (about $8.2 Mn) from its cofounders and existing investors via a rights issue

Yulu’s board passed a resolution to allot 5,004 Series B3 CCPS for INR 1,41,226.3 apiece to its existing shareholders, including cofounders and key investors Bajaj Auto and Magna International

Among the cofounders, Amit Gupta will invest INR 28.2 Cr and Hemant Gupta, Naveen Dachuri, and Rajendra Kumar Mishra will infuse INR 14.1 Cr each

Electric mobility startup Yulu is raising INR 70 Cr (about $8.2 Mn) from its…