The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. Startups which are registered with the Department for Promotion of Industry and Internal Trade do not come under the purview, Anurag Jain, the secretary in the department said while speaking at the IVCA Conclave. "Let me put one thing very clearly. It doesn't affect startups in the least," he said, addressing the audience at the event organized by the venture capital industry lobby grouping.
'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'
3i, a private equity and venture capital firm, will invest $45.50 million in sports and media company Nimbus Communications Ltd.
While the fresh issue portion of IPOs has been going down over the years, this financial year has been abysmally low at only Rs 2,663 crore, 82 per cent lower compared to the last financial year.
Generative artificial intelligence (AI), climate tech and fintech sectors will be the hot areas for venture capitalists and founders in the next year, according to the prediction by Prashanth Prakash, founding partner of the global venture capital firm Accel Partners in India and the chairperson of Karnataka Startup Vision Group. Prakash said that about $25 billion has been invested into building Gen AI globally. But a lot of that capital has not yet come to India, opening up huge opportunities for startups in the country.
The currency appreciation has increased the capital (in dollars) required for starting a business in India. The rising cost (in rupees) of employees, building space and infrastructure has only made matters worse.
The fund will close in two tranches, with the first tranche of $ 100 million expected to close in two months. However, the company has not set any time-frame for raising the entire corpus of the fund. In addition, Dewan Housing Finance, the parent entity, is also looking to raise Rs 150 crore (Rs 1.5 billion) to bolster its operations. The fund-raising may also be in the form of equity dilution.
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
The controlling shareholders of smaller and mid-sized companies are reducing their stakes at levels seldom seen since the 2008 global financial crisis. Over 20 per cent of companies listed on BSE MidCap and BSE SmallCap have seen a decline in promoter holdings for five consecutive quarters, reveals data from DSP Mutual Fund, shared with Business Standard. In the latest June quarter, the figure stood at 22.6 per cent.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
Nokia Growth Partners, a global mid to late-stage venture capital fund, has invested $3 million in Bangalore-based telecom research and development firm Sasken Communication Technologies to pick up an equity stake.
As consumers in India seek variety and innovative products, there's a lot of interest among investors for healthier products.
'What is Balaji without Ekta (Kapoor), what is Dharma without Karan (Johar?)'
Mobile application vulnerability detection start-up, Appknox is in talks to raise funds from Singapore-based Jungle Ventures, along with a slew of angel investors including Google India head Rajan Anandan.
Businesspersons who have the potential to contribute to the economy of a country are given a red carpet welcome by way of a start-up visa.
'We will take tough calls where needed in the interest of doing what is right.'
This article broadly explains the various steps of the evaluation process carried out by venture capitalists while financing a project.
The Foreign Investment Promotion Board (FIPB) has rejected a proposal by Tata Investment Corporation (TIC) to issue zero coupon convertible bonds (ZCCBs) with detachable warrants to its shareholders.
Luckily for him, the bumps on the way got forgotten, thanks to his expertise in earning high returns for investors through patient exits.
The Securities and Exchange Board of India on Monday approved guidelines for real estate mutual funds.
India may get its first unicorn this year as Zepto, which promises 10-minute deliveries, is in talks to get fresh funding that would take the start-up's valuation past $1 billion. The quick-delivery firm is looking to raise $150 million in a series E round, which will take its valuation to $1.3 billion. The round will be led by StepStone Group, a limited partner (LP) of Zepto's existing investor, Nexus Venture Partners, said media reports.
The NSE, along with financial institutions like IL&FS and IDBI, has proposed to set up a special exchange.
'We want to look at very strong entrepreneurial teams.' 'I want to focus on a full team and not just the entrepreneur, which is building innovative and amazing differentiated businesses in large markets.' 'We also look at business models that are proven and have reasonably good gross margins, which show that this is where a lot of value is getting built.'
An early stage venture capital fund recently raised a Rs 100 crore (Rs 1 billion) Mauritius-based fund to invest in Indian real estate and plans to raise a similar fund later this year.
It is raining private equity funds in the logistics and warehousing space.
Serena has backed early stage companies for nearly a decade.
Investments by private equity and venture capital funds into Indian entities fell by 69 per cent to $3 billion during July, a report said on Wednesday. The investments in July are the lowest for any month in a year, and lower than the $4.9 billion recorded across 118 deals in the preceding month of June, the report by industry lobby IVCA and consultancy firm EY said. Going by the number of deals, July 2022 recorded 74 deals, as against 134 deals in the year-ago period, the report said.
'The deal pipeline across products is robust for 2024.'
Indian software product companies, which are planning to raise venture capital funding, will have to ensure that their domestic and emerging market focus is sharp. Indian IT start-ups, which are introducing software products, have better prospects of availing VC funding, according to many VCs. It has always been difficult for start-ups in the software product space to compete with the global software giants, even in the domestic market, they note.
Earlier in 2012, the Gurgaon-based firm with 5,000 employees and top line revenue of close to $100 million, had put on hold plans for a Nasdaq listing citing market conditions.
At a recent meeting of the high level coordination committee of regulators on capital markets, the RBI clarified that no approvals for VCFs will be issued since the Finance Ministry is reviewing the policy for investment in the realty sector for both foreign direct investment (FDI) and portfolio investments by foreign institutional investors.
Focussed on growing its business in India, networking giant Cisco said it invests as much as $1.7 billion annually in its operations in the country across areas like R&D and employee training.
PE/VC investors keen on bolder bets in sect#8744 rise in investment enquiries, growth
Deal values have been falling steadily since May this year, when it touched a high of $851 million.
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