8 JUNE2023INFOCUSINFOCUSPharma bigwig AstraZeneca Pharma India has appointed Bhavana Agrawal as the new Chief Finance Officer (CFO). A company statement mentioned that her appointment will come into effect from October 1, 2023, following a transition period.Bhavana succeeds Rajesh Marwaha, who will step down as CFO and full-time director of the company on September 30, 2023. Rajesh has been key in developing strategic frameworks for AstraZeneca Pharma. He has also been a strong anchor as a board member and has been behind important initiatives aimed at improving access to healthcare."With his extensive and diverse experience across industries, Rajesh has been a valuable asset and guiding light for us". I'd like to thank him for his outstanding leadership and significant contribution to our country's legacy. At the same time, I am delighted to welcome Bhavana at this critical point in our journey of growth through innovation. We are constantly pushing the boundaries of science to deliver life-changing medicines, and I am confident that with her unique global experience, we will be able to accelerate our goal of transforming patient outcomes", said Dr. Sanjeev Panchal, country President, AstraZeneca India.Bhavana's previous role saw her as the CFO of the services business at GE Healthcare for Middle East, Africa & Russia. In her role at GE Healthcare, she was responsible for revenue, costs, cash, planning session and financial closing activities in more than 30 countries. In her new role, Bhavana will be responsible for the company's financial strategy and operations, planning and analysis, and investor relations. ASTRA ZENECA INDIA ONBOARD BHAVANA AGRAWAL AS NEW CFOHARDIKA SHAHLED SOONICORN KINARA CAPITAL LOOKING TO RAISE $150 - 200 MILLIONFintech soonicorn Kinara Capital is looking to raise fresh funding to the tune of $150 million to $200 million suggest industry reports. "Yes, Kinara is back in fund raise mode. They are in discussions with investment bank Edelweiss Financial Services as advisors. Edelweiss had helped the firm in its last round as well," said a person in the know. The news was confirmed by two more people and one of them added that Kinara Capital needed fresh growth capital. "For over a decade, Kinara Capital has demonstrated scale and profitability as a leading MSME lender, especially by providing access to collateral-free credit.As we continue to grow, we will diversify our product offerings to meet the vast credit demand in the MSME sector. For this, we are looking for growth capital to expand financial inclusion to the much deserving, but the much underserved, MSME sector of India", said Hardika Shah, Founder and CEO, Kinara Capital.So far Kinara has raised over $500 million in capital (equity and debt), from India-based and global investors. the major equity investors for Kinara currently includeGaja Capital, Michael & Susan Dell Foundation (MSDF), Patamar Capital and GAWA Capital. In 2022, the firm had raised $52 million in equity funding from Nuveen, Triple Jump, and British International Investment (BII).Launched in 2011, the Bangalore headquartered firm focuses on financial inclusion of small business entrepreneurs. It currently has125 branches servicing MSMEs in 100+ cities across six states in India with employs over 1,600 people.In a bid to diversify its product portfolio, Kinara is now doubling its commitment to women entrepreneurs with HerVikas program and is also introducing Green Finance products.
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