GREX, a private market platform, today announced two companies, Quotient Digital (digital wealth management fintech) and Rooftop Urja (renewable energy company) went ‘LIVE’ on its platform. After going LIVE companies can access various solutions and features that GREX offers. Companies must get associated with a Sponsor who is willing to have the company in its portfolio at GREX.
Sousthav, Co-founder and CEO of Quotient Digital, one of the companies that went LIVE on GREX, said, “For any founder, it is a dream to get validation from investors by raising capital. It is usually a process that is not entirely transparent, time-consuming and in the initial few rounds, something a founder has to do by themselves. With GREX as a partner, not only it has been entirely transparent, but there has been a high degree of hand-holding, which is what made the process easier. It still took time, but it was thorough, and we always had someone to guide us. Thank you GREX!”
Says Mukul Jain of Redbrick Capital Advisors, the Sponsor for Rooftop Urja, “GREX has offered a new alternative to the starved equity market in India. As we all know, capital is extremely constrained for SME’s globally. However, GREX has come as a life savior for run by offering a means to raise alternate capital. We have been associated with GREX since beginning and the journey has been a good learning experience. The team at GREX has been very supporting and forthcoming to assist sponsors in getting used to the system as well as to ensure maximum value can be generated for the stake holders.”
Apart from Sponsor association companies go through rigorous legal due diligence process through any of the accredited law firms of GREX. One of the other requirements of GREX also is to mandatorily adopt StockChain (Blockchain based share registry) as their statutory shares registry and make relevant changes in their Articles.
Legasis Partners and Hreem Legal were the law firms who did legal due diligence for Quotient Digital and Rooftop Urja respectively. Says Apurv Sardeshmukh, Partner at Legasis Partners, “Legasis Partners is proud and delighted to be associated with GREX and hope to assist them in all their endeavours. It has been a great experience to work with GREX and Quotient Digital and try and define a process by which the company will be compliant with all applicable laws and fit for investment.”
After going LIVE companies have an obligation to share information on a continuous basis on GREX platform. Manish, Co-founder and CEO, GREX said “GREX is not just a capital raising platform. We require companies to continuously update their important information and develop continuous engagement with the investors. Companies who share very well are followed very well and this leads to investors trust developing over a time. Despite being pioneers in enabling digital investment transactions we believe that investors should invest when they trust a company.”
Recently in September, GREX has signed an MoU with AIM Startup, an initiative of UAE Government to provide better access for Indian companies to the markets in MENA region (Middle East and North Africa region), and forge meaningful relations with business leaders, investors and international Government entities.
It may also be recalled that back in May 2016, two companies — SolarTown Energy Solution and Comarete Technologies, have had raised over raised INR 14.1 million by integrating on GREX platform. Prior to this, Gurgaon-based Next Gen Paper Solutions Private Limited which runs and operated Kleeto, an end-to end record and information management service startup, has successfully raised approximately INR 1.5 Crore on GREX
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