Roadzen (RDZN) announced the first close of its previously-announced India subsidiary financing, raising $4.5 million at a pre-money valuation of the subsidiary of $84 million. Due to strong investor demand, the raise has been upsized to approximately $7 million, with a second close expected shortly. The financing establishes a standalone valuation for Roadzen’s India business at nearly 25% above the Nasdaq-listed parent Company’s current market capitalization. The subsidiary’s valuation implies a ~$2.00 per share price for Roadzen’s Nasdaq-listed shares. The first close was anchored by some of India’s leading asset managers, including Quant AMC, Team India, Valentis Advisors, and Prime Securities Group. Prime Securities Limited acted as the exclusive investment bank on the transaction.
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