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.
Few angels have seen exits; till that happens, they won't be rushing to invest again.
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.
Jaitley assured that both the banking system and the government will make the resources available to them.
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.
CBDT circular issued last month had raised multiple taxation concerns.
Venture capital investments in India's start-ups nearly halved to $1.5 billion in fourth-quarter 2015
The recent pullout by ICICI Venture and Citigroup Venture from a three-year-old drug discovery partnership with Dr Reddy's Laboratories points to angel investors' growing aversion to risk in pharma and biotech firms, say experts.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
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.
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.
On October 27, the Reserve Bank of India had allowed start-ups to borrow up to $3 million or around Rs 20 crore a year either in rupees or any convertible foreign currency.
VCs also do not want to under-finance companies and are ensuring that the current capital infusion takes them through at least 18-24 months, which is the expected time when the outside fundraising environment starts to recover, says Alok Mittal.
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.
Siddharth Roy Kapur's RKF aims to raise around $50 million by offering up to a 50 per cent stake in the company.
'The deal pipeline across products is robust for 2024.'
IT body Nasscom has helped four start-ups raise funding of Rs 40 lakh as part of its programme to help entrepreneurs turn their ideas into successful businesses.
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.
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.
Experts argue that the top two players in each category will receive funding sooner or later, but for laggards, the market is still challenging
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 RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
Renuka Ramnath is credited with raising the India Advantage Fund Series II, the country's largest private equity fund till date with a corpus of $810 million.
There were fewer Series-B deals this year versus last, but more money was raised
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Venture capitalists (VCs) invested around $928 million (around Rs 3,700 crore) in 80 India-based firms during 2007 -- a 166 per cent increase over the $349 million invested in 36 deals in 2006 --, according to the latest quarterly India Venture Capital report published by Dow Jones VentureSource.
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
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 Indian economy has witnessed the creation of 28 unicorns, or startups valued over $1 billion, this year on the back of a series of reforms unleashed by the government, Finance Minister Nirmala Sitharaman said. Addressing a virtual conference organised by the Indian Private Equity and Venture Capital Association (IVCA), the minister said the Indian economy has witnessed a spur of unprecedented growth in the form of startups in the last two decades. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 56,630 startups across districts throughout India, IVCA said in a statement quoting the finance minister.
FirstCry is omni-channel player with presence across desktop, mobile and offline routes offering baby and maternity products in India.
For the first time in 21 years, the Reserve Bank of India (RBI) will revise norms for investment portfolios of commercial banks to reflect changes in global standards on valuation and measurement, and progress in the domestic market. This could pave the way for banks to transition to the new accounting standards (Ind-AS). The outstanding investment portfolio of commercial banks was at Rs 45.84 trillion as of November 19 this year.
The country's two venture capital firms, Anil Ambani Group's Reliance Technology Ventures and Nexus India Capital, have been named in the Red Herring Top 100 Global Venture Capitals.
'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'
The Tata Sons' chairman emeritus has been aggressively investing in start-ups, ranging from e-commerce firms to cab aggregators
Texas Pacific Group, the global private-equity fund, which manages around $20 billion, has named former Intel Capital managing director Varun Kapur to lead its investments in India effective this week.
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.
