Page 4 - Funds

Former Alibaba India head, 9Unicorn partner launch Rs 1,000 cr fund

Former head of investments at Alibaba Group's India business Raghav Bahl and 9Unicorns ex-partner Soham Avlani on Thursday announced the launch of PROMAFT Partners -- a Rs 1,000-crore venture capital fund. The sector-agnostic fund seeks to invest in companies that have proven exceptional 'product-market-fit'. It plans to make 10-12 investments, with two-three investments in a year. "Growing without product-market-fit is like driving fast in the wrong direction. And product-market-fit without sustainable competitive advantage doesn't create shareholder value. We encourage our entrepreneurs to grow slowly, while investing in the core fundamentals of the business. "We plan to make two-three investments per year. We are backed by prudent investors, which gives our entrepreneurs the advantage to build for the long term," Bahl said. The fund is also backed by Indian family offices and market leaders like Paytm, Zomato, Browserstack, Livspace, PharmEasy, and VideoVerse who will also ...

Simplify investing: Allocate bulk of core portfolio to broad index fund

These index funds eliminate the complexity of selecting individual schemes. Investors do not have to worry about how much to put into various market caps

Secure your future: How to build an emergency fund for financial stability

Knowing you have a financial buffer allows you to focus on other important aspects of your life without worrying about money

Business and economic cycle funds: Dynamic style provides the edge

Business cycle funds invest in themes expected to do well over the medium to long term, such as digital businesses, prem­ium­isation of consumption, and urbanisation

ZEE Entertainment plans to raise funds through issue of shares, QIPs

Leading broadcaster Zee Entertainment on Monday said it is planning to raise funds from the market through various routes, including issuing of equity of shares, and qualified institutions placements (QIPs). Though the company has not specified the amount it plans to raise, Zee Entertainment Enterprise Ltd (ZEEL) in a regulatory filing said its board is meeting on June 6 to consider the proposal for this. "A meeting of the Board of Directors of the Company is scheduled to be held on... June 6, inter-alia, to consider raising of funds by way of issuance of equity shares and/or any other eligible securities (convertible/non-convertible) through permissible modes..." it said. This will be not limited to a private placement, a QIP, a preferential issue, or any other method or combination of methods subject to such approvals as may be required, the filing said. This latest round of fundraising is after the Sony Corporation terminated a deal to merge its two entertainment entities in Ind

REC plans to raise up to Rs 6,000 crore through two bonds on Friday

The company has invited bids for the same on Friday. The NCDs have been given the highest credit rating of 'AAA' with a 'Stable' outlook by ICRA, and CRISIL

Share of unspent funds under MPLAD doubled during 17th Lok Sabha

This exponential rise in the share of unspent money is despite the fact that the scheme remained suspended for nearly 18 months during Covid

Manufacturing funds: Invest with 5 to 7-yr horizon to cope with eco cycles

Add these schemes to your portfolio only after building a core using diversified funds

Arcelormittal Nippon Steel India in talks for $1 bn loan to fund growth

The steel firm had earlier held loan negotiations with a few other lenders but they couldn't agree on the cost of funding, said the people

NHPC board approves proposal for raising Rs 6,100 cr funds through NCDs

State-owned NHPC on Wednesday said its board has approved a proposal to raise Rs 6,100 crore in debt in 2024-25. The Board of Directors of NHPC in its meeting held on Wednesday considered and approved the proposal for raising of debt up to Rs 6,100 crore during 2024-25 through non-convertible Corporate Bonds in one or more tranches on private placement basis, term loans or external commercial borrowing in tranches, a BSE filing said. Further, the Board of Directors in the meeting has also given its in-principle approval for closure of Loktak Downstream Hydroelectric Corporation Limited (a Subsidiary Company of NHPC Limited and Joint Venture with Govt. of Manipur), subject to the approval of DIPAM, Ministry of Power and Govt. of Manipur, it stated.

Only 20% environmental funds utilised for NCR, shows CPCB report to NGT

The Central Pollution Control Board (CPCB) has spent only 20 per cent of the environment protection charge and environmental compensation collected so far for mitigating air pollution in Delhi-NCR and protecting the environment. The CPCB receives compensation broadly under two heads - environment protection charge (EPC) and environmental compensation (EC). According to a CPCB report submitted to the National Green Tribunal on March 20, the central pollution control body has disbursed only Rs 156.33 of the total Rs 777.69 crore collected under the two heads. The dealer/manufacturer is required to pay one per cent environment protection charge on the ex-showroom price of new diesel vehicles with engine capacity of 2000cc and above, registered only in Delhi and NCR. This is called 'environment protection charge'. The EPC is received as per an order of the Supreme Court and is utilized for air quality improvement and related work in Delhi-NCR such as research and development activities

Cong raises questions over PM CARES Fund, asks about 'lack of transparency'

The Congress on Monday raised questions about the PM CARES Fund, saying that four years after the onset of the COVID-19 pandemic, it is still not clear why it was set up, who its donors are and why its administrative structure is so "lacking in transparency". Congress general secretary Jairam Ramesh alleged that given the history of the Modi government, as shown by the "electoral bond scam", one can only speculate that the lack of transparency was deliberately engineered to give the prime minister an unsupervised pool of funds to spend as he wishes. In a post on X, Ramesh said, "Now that the corruption, extortion and intimidation of the Modi Sarkar through the electoral bond scam is getting revealed in all its shocking detail, let us not forget another route the Government opened for companies to curry favour: the self-glorifyingly named PMCARES." "The total amount of funds PMCARES received and the names of the donors have never been officially reported. Media reports suggest that i

Braving the rapids: Smallcap funds ride the risky tide with spread bets

RIDING THE WAVE: Smallcap stocks dominate portfolios in the year's rally

BJP leaders, ministers donate to party fund for building 'Viksit Bharat'

A day after Prime Minister Narendra Modi contributed Rs 2,000 to the BJP's campaign to strengthen efforts to build a 'Viksit Bharat', several BJP leaders including Union ministers on Monday contributed to the party fund. Those who contributed on Monday to the BJP fund ahead of the Lok Sabha polls included Union ministers Rajnath Singh, S Jaishankar, and Smriti Irani. Singh contributed Rs 2,000 to the BJP fund and shared its receipt on X, appealing to people to donate for nation building. With a resolve to make India a developed country under the leadership of Prime Minister Narendra Modi, the BJP has started a campaign to bring every countryman together. The role of individuals is important in making this campaign successful, the defence minister said. I have contributed to join this resolve of the BJP. You also contribute to this and become a participant in this campaign of nation building. I appeal to everyone to be a part of #DonationForNationBuilding through the NaMo App, Singh

PE firm CVC Capital raises $6.8 bn, plans to invest in Indian companies

Private equity and investment advisory firm CVC Capital Partners on Wednesday said it has mopped up USD 6.8 billion (around Rs 56,366 crore). The Luxembourg-based company has over USD 1 billion investments in four domestic companies -- the Indian Premier League franchise Gujarat Titans, Healthcare Global, Sajjan India and United Lex, according to a statement. It plans to invest some of the new money being raised into more domestic companies. In the statement, CVC, which is focused on private markets, private equity, secondaries, credit and infrastructure, said the fund closure is 50 per cent larger than its predecessor fund, that raised USD 4.5 billion in 2020. The funds raised in the latest round saw a strong demand from new and returning blue chip investors enabling it to exceed the USD 6 billion target and original hard cap of USD 6.5 billion. This makes CVC one of the leading PE players in the region, having raised over USD 21 billion across its Asia-focused funds. The new fu

SAT to hear Subhash Chandra's appeal in fund diversion case tomorrow

In the same order, issued in August 2023, Chandra's son Punit Goenka was granted relief by the tribunal

Canara Bank raises Rs 2,000 crore funds from bonds at coupon of 8.40%

State-owned Canara Bank on Wednesday said it has raised Rs 2,000 crore by issuing bonds to fund business growth. The fund has been raised through non-convertible, taxable, perpetual, subordinated, fully paid up, unsecured Basel III compliant Additional Tier 1 bonds of face value Rs 1 crore each at a coupon of 8.40 per cent, Canara Bank said in a regulatory filing. Additional Tier I bonds qualify as core capital or equity capital, and it is one of the means of raising capital by banks.

Gujarat state civic body accepts bids for maiden green bonds: Bankers

The city, situated in the Western state of Gujarat, has set a semi-annual coupon of 7.90%, and had invited bids from bankers and investors for the issue earlier in the day

Opec Fund delivers record results with $1.7 bn in development funding

The organisation was established 48 years ago and the 2023 results represent a record in new commitments

Sebi's new disclosure norms likely to impact few FPIs due to exemptions

No panic selling entailed as funds affected will have six months to rebalance their portfolio