India's real estate investment trust (Reit) sector is set for robust expansion, with at least one new Reit expected to enter the market each year over the next three-five years. This growth trajectory builds on rising occupancies, surging leasing activity, and increasing investor interest.
Canada Pension Plan Investment Board has stringent processes and systems, which are proving to be a stumbling block
CPPIB, which started investing in the country in 2009, has invested in Kotak Mahindra Bank, L&T Infrastructure Development Projects, online education firm Byju's, energy company ReNew Power, logistics firm Delhivery, among others.
Deteriorating ties between India and Canada could have a bearing on flows into the domestic capital markets. At present, Canada is the seventh largest country for foreign portfolio investor (FPI) flows into India. According to the National Securities Depository Ltd (NSDL), the assets under custody (AUC) of FPIs domiciled in Canada stood at nearly Rs 1.8 trillion ($21 billion) at the end of August. Almost 85 per cent of these investments are in listed equity, while the remaining in debt and hybrid instruments.
The move will help the LPs save the fee they pay private equity firms and play an active role in these investments.
'Are we to believe that coordinated moves by the Canadian and US authorities are no longer taking place?', asks Ambassador M K Bhadrakumar.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
The Qatar Investment Authority deal follows Byju's raising money from the Canada Pension Plan Investment Board, which was also the first direct investment by the Canadian pension fund in an Indian start-up. In March, Byju's had raised $540 million at a valuation on $5.4 billion, making it the most-valued ed-tech company in the world.
Online marketplace eBay has entered into an agreement with an investor group led by private equity firm Silver Lake for sale of 65 per cent stake in its Skype communications unit for $1.9 billion.
CPPIB is looking to partner with RMZ because the latter is aggressive on both new developments and acquisitions.
Flipkart Group on Monday said it has raised $3.6 billion (about Rs 26,805.6 crore) in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion. The company, which competes with Amazon, Reliance Industries' JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country. The current funding round has also seen participation from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad as well as marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
Foreign portfolio investors (FPIs) and mutual funds (MFs) have put in more money as anchor investors in initial public offerings (IPOs) in 2021 than any other year. FPIs' share of investments for the year stood at Rs 24,477 crore, nearly six times that put in last year and more than nine times the amount invested in 2019, the data from Prime Database showed. MFs have invested Rs 12,264 crore, four times than that invested last year and more than 10 times the investment in 2019. The total investment by FPIs and MFs put together this year is five times the amount invested last year. The amount contributed by MFs, however, is nearly half of that invested by FPIs.
Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate (ED) has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations.
The Kanakia group, from which Mapletree did the purchase, had bought the plot from India Tube Mills and Metal Industries for Rs 363 crore in 2018.
Walmart-owned Flipkart will undertake a buyback employee stock options worth about Rs 600 crore, according to sources Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer Kalyan Krishnamurthy lauded the critical role played by the staff in reaching this milestone.
After dropping to a low of Rs 1,298 apiece, the stock finished at Rs 1,380, its lowest level since November 22, the second day of listing.
Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said. Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.
Pallon has already joined the boards of some of the unlisted companies such as Afcons
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
Most of these road contracts are spread across Andhra Pradesh, Haryana, Karnataka, Odisha, Rajasthan, Tamil Nadu, Uttarakhand and West Bengal, with the government struggling to restart them.
It is raining private equity funds in the logistics and warehousing space.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
These sectors have underperformed the wider market over the past year and are seen having far more upside potential if the economy picks up thanks to Modi's reformist agenda.
Taxation is a growing concern across the world, across our jurisdictions.
Ajay Piramal bets highly on infrastructure, realty
The rise of the mall in India, at a time when many in the United States are becoming debt-ridden white elephants.
Decision to build or buy a platform is a function of price but buyouts are helping large investors create a medium and influence outcomes.
Indian property markets are not in the pink of health.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
The company will now focus on value creation for shareholders in the defence and construction businesses.
With Indian infrastructure companies burdened with debt, global PE funds and developers sense an opportunity to buy the airports cheap
The overriding objective of the National Investment and Infrastructure Fund (NIIF) must be adequate economic return, not financial return.
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