Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
While proposals for covers in volatile markets aren't denied, premiums are much higher - by as much as 100-600%
Raghavendra Kamath reports on what ails India's real estate sector.
In a departure from the past, when IHCL adopted the organic route for entering markets like London and New York, this time around the expansion will be acquisition-led.
At a time when the Indian information technology services industry is the focus of anti-outsourcing rhetoric, the global in-house centres (GICs) or captive units of multinational companies are increasing their offshore penetration.
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
Bandhan Financial Services, which is to start banking operations soon, has received a combined equity commitment of Rs 1,600 crore (Rs 16 billion) from International Finance Corp (IFC) and GIC, Singapore's sovereign wealth fund.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
In the year 2020 to date, these funds deployed capital worth a record $14.8 billion in India, which is nearly three times more than what they have put in China - $4.5 billion.
According to sources, the government has convened a meeting involving the Nuclear Power Corporation and General Insurance Corporation (GIC), the only domestic re-insurer in the country, to take stock of the progress.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
HR experts estimate that up to 70 per cent companies in the manufacturing and services space including sectors like auto components, edutech and construction equipment are looking to restore the salary cuts over the next couple of months.
Bigger companies are signing equity JVs with global investors.
Most NBFCs will have to slow down their loan growth. Some of the most leveraged will have to sell a part of their assets (or loan book) to banks to raise incremental capital. Others may have to knock on the door of their deep-pocketed parents.
The number of deals announced in the month were the highest ever at 102 for any month, compared to 75 in the same period last year and 92 deals in March.
Apart from the Adani group, the Tata group, the Hinduja group, Indigo and a New York-based fund, Interups, are expected to submit EoIs.
The largest domestic carrier IndiGo is set to renew the insurance cover for its fleet this month, Air India and budget airline GoAir's insurance renewal is due for October, while that of Jet Airways is due in next January.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
No change in the maximum cover of Rs 750 crore.
'This is happening regardless of the Budget.'
Indian reinsurer General Insurance Corporation has hardened its stance while negotiating reinsurance arrangements for the next financial year. During the first round of talks with non-life insurers, GIC said that it would pay at least 5 per cent lower commission on business that is reinsured with it. Further, it has sought a share in underwriting profits, which could be as high as 50 per cent, sources involved with the negotiations said.
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Flipkart is in expansion mode, needs to infuse funds in the firm.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
ICICI Financial Services, ICICI Bank's subsidiary which owns its insurance and asset management businesses, will offload 5.9 per cent stake to five investors for around Rs 2,650 crore (Rs 26.50 billion).
Under the PMFBY - introduced in 2016 - farmers have to pay a maximum of 2 per cent of the sum insured for kharif and 1.5 per cent for rabi food and oilseed crops and 5 per cent for commercial/horticultural crops. Eighteen general insurance companies, including five public sector insurance firms, have been empanelled for the scheme's implementation.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on a weekly basis.
Barely two weeks after the Reserve Bank of India permitted 49 per cent foreign stake in stock exchanges
The Bill will come up for discussion in the upcoming winter session of the Parliament.
Around 15 venture funds from the US and Southeast Asia will be making investments in the Indian real estate sector through the FII route
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
Private equity firms invested about USD 3.7 billion across 133 deals during the first quarter of 2018 as compared to USD 7.3 billion by way of 200 transactions a year ago.
There were instances of 'rasta roko' at various places in rural Maharashtra
After multiple attempts at selling itself, including to larger e-commerce player Snapdeal, ShopClues has found a buyer in Singapore-based e-commerce platform Qoo10 in an all-stock deal.
The government said on Monday it planned to bring a Bill to amend the Insurance Act, which among other things, provides for increasing FDI cap in the sector from 26 per cent to 49 per cent.
This is the biggest equity-raising exercise by an Indian corporate within a financial year. The fundraising - led by Citibank, Goldman, Kotak and Axis Capital as bankers - will see participation by foreign and domestic institutional investors.
