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Defense startup NewSpace is set to raise Rs 115 crore ($13.3 million) in debt funding led by Lend Lease Company India Ltd, angel investor Ahmed Nalwala, ARA Investment with the participation of 35 other investors.
The board at Newspace passed a resolution to approve the issue of 115 compulsory convertible debentures at a face value of Rs 1,00,00,000 each to raise the above mentioned amount, according to its regulatory filing filed with RoC.
Lend Lease will lead the round with an investment of Rs 13 crore, followed by angel investor Ahmed Nalwala and…
