The share of non-resident Indians (NRIs) and overseas investors in Indian mutual funds has been declining over time, despite adding half-a-trillion rupees to holdings over the last five years. Mutual fund holdings for the segment went up from Rs 0.95 trillion as of December 2018 to Rs 1.54 trillion as of December 2022, shows Business Standard analysis of data from the industry body Association of Mutual Funds in India (Amfi). Their share in overall mutual fund assets has fallen from 4.2 per cent to 3.9 per cent during the same period.
ICICI Bank said on Thursday it has constituted a Rs 100 crore (Rs 1 billion) loan fund for assisting companies engaged in the green business or abetting eco-friendly activity.
'We started AgniKul to show that space transportation should be as simple as road transportation.'
India is the second-largest global venture capital investment hub for digital shopping companies, growing by a whopping 175 per cent from $8 billion in 2020 to $22 billion in 2021, according to an official analysis released here on Wednesday. On a global scale, India came in second to the US last year, which attracted $51 billion in investment, followed by China at third with $14 billion and the UK at fourth with $7 billion. Within India, Bengaluru comes out on top globally with $14 billion worth of Venture Capital (VC) investments in digital shopping in 2021, followed by Gurugram at No. 7 with $4 billion and Mumbai at No. 10 with $3 billion.
The company plans to add more features to its gadget, will expand its workforce and raise $10 million in venture capital fund.
The government is considering a proposal to extend the benefit of tax pass-through to domestic venture capital funds on investments across all sectors in the coming Budget.
In 2019 investors backed some of the major online healthcare and pharmacy retailers, with PharmEasy leading the deal list. The firm raised funds through the year to bring in around $220 million and the round is yet to be concluded, according to Venture Intelligence data.
Singapore government's sovereign wealth fund Temasek is looking to invest $10 billion in India during the next three years, Ravi Lambah, Temasek's head of India and strategic initiatives, said.
WPP also plans to introduce 24/7 Real Media, a digital marketing firm, in India and the rest of Asia.
After a year of taking over the airport, the GMR-led Delhi International Airport consortium has initiated the process of commercial property development by inviting bids for building hotels on nearly 40 acres.
The government has constituted a high-powered committee, headed by Planning Commission Member NK Singh, to set new guidelines for regulating film financing.
Venture capital funds and private equity investors disbursed an estimated $1.3 billion in India in 2004, a growth of 49 per cent over the previous year
Several Opposition leaders, including former Congress chief Rahul Gandhi, on Wednesday attacked the government over a media report claiming that a key Adani group investor is also co-owner with the conglomerate in a defence firm.
The drop was the result of the change in FDI rules, which was amplified by the border standoff between India and China.
Private-equity funds made an average annual return of just 7 per cent between January 2007 and December 2013 while the Sensex was up 11 per cent.
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
He also talks on the US challenge and on India's relations with China.
ITeS company Mphasis chairman Jerry Rao has invested an undisclosed amount in Royal Orchid Group of Hotels after joining the group's board of directors.
Venture Intelligence data shows that during January to July 2020, investors infused $998 million in 31 deals. The total number of deals reported in 2019 was 42 worth $404 million.
The small and medium enterprises may soon have a credit card in their names. The Lucknow-based Small Industry Development Bank of India is mulling over the idea of having an SME credit card.
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
In what is amongst the first focused fund in the space, India Media Entertainment Fund (IMEF) is raising Rs 500 crore, which will provide both equity as well as instruments like non-convertible debentures (NCD) to companies in the content, distribution platform and services areas. The private equity fund has appointed a high-profile advisory body which includes ad guru Prahlad Kakkar, managing director of Red Chillies Entertainment and cricket team KKR Sports, actress and entrepreneur Raadhika Sarathkumar, who has starred in Malayalam, Hindi and Kannada films and runs Radaan Mediaworks. It also includes Ramnath Pradeep, former chairman and managing director of Corporation Bank, and Rajesh Gupta, senior partner of law firm SNG Partners.
An online platform suits many new angel investors who are professionals with tech companies or start-up founders.
Academy award winning actor Al Pacino, who had a longtime wish to don the character of Napoleon, is now getting a chance to play the French emperor in an on-screen adaptation of children's book.
The income tax department has notified rules for valuation of equity and compulsorily convertible preferable shares issued by startups to resident and non-resident investors. As per the changes in Rule 11UA of I-T rules, which comes into effect from September 25, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) can also be based on the fair market value of unquoted equity shares. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method.
Wipro Ventures is currently managed by Biplab Adhya and Venu Pemmaraju and has so far invested in 16 early to mid-stage start-ups. While 11 of these start-ups are in the US, four are in lsrael and one in lndia.
People move from investment banking to growth equity or from venture capital to growth equity or entrepreneurship, depending on what's attractive at different points of life.
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
The government will create an EV Venture Capital Fund, for financial support to start-ups in the segment. The overall aim is to make Tamil Nadu the preferred destination for EVs and component makers.
With response tepid so far from domestic investors, these funds might soon approach FIPB for approvals.
Family offices are increasingly looking to invest directly in start-ups rather than through investment in venture capital (VC) firms. The shift is happening because of multiple reasons. Next-generation scions of wealthy families are conversant with how the start-up world works after they have spent time in Silicon Valley; start-up investment is rising to 10-15 per cent of family offices' portfolios from single digits; and they do not want to share gains of investment with VC firms. "While earlier they would prefer to invest in this asset class via venture capital (VC) funds as LPs (limited partners), now they are making direct investment in start-ups.
Few angels have seen exits; till that happens, they won't be rushing to invest again.
Arjun Mohan, CEO of India operations of Think and Learn, which owns Byju's brand, has resigned from the beleaguered firm, which on Monday also announced a business rejig consolidating its operations into three verticals. Mohan had joined Byju's in July last year as the CEO for international business after quitting rival UpGrad in February as CEO. Later, he was given charge of India operations in September after Byju's then CEO Mrinal Mohit resigned. After taking over the charge, Mohan undertook restructuring of the organisation which led to layoffs of around 4,000 employees at Byju's.
Indraprastha Gas on Tuesday said it has obtained the approval of FIPB for transfer of equity shares to non-resident Indians, foreign institutional investors and foreign venture capital funds in its proposed initial public offer.
He said COVID-19 can be a catalyst towards the adoption of digital technologies in health and education and drive change in a way that even venture capital funds have not achieved despite pouring billions in investments.
Jaitley assured that both the banking system and the government will make the resources available to them.
How do you avoid being laid off? If you have been let go, what should you do next? Ask rediff Career Gurus to find out.
CBDT circular issued last month had raised multiple taxation concerns.
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