Page 39 - Investment

IndiGo promoter Rakesh Gangwal invests $20 million capital in Zetwerk

Unicorn startup Zetwerk on Thursday said it has received USD 20 million (about Rs 165 crore) investment from Indigo Airline promoter Rakesh Gangwal. Gangwal is the last investor in the ongoing funding round of Zetwerk at USD 2.8 billion enterprise value. "We are delighted to share that Rakesh Gangwal has invested USD 20 million in Zetwerk through Wheelhouse Venture Capital. Gangwal, with his extensive experience spanning several decades, brings invaluable insights into building businesses and iconic brands. His strategic guidance will be crucial in building Zetwerk into a generational company," Zetwerk said in a statement. The company has raised USD 650 million to date, including the recent investment from Gangwal. Zetwerk has posted a nearly six-fold jump in revenue to Rs 4,961 crore during 2021-22, mainly on account of companies looking for an alternate destination to China to make their products. The company's revenue more than doubled to Rs 11,448 crore in the financial year 2

Investors subscribe JG Chemicals IPO 27.78 times on last day of offer

The initial public offer (IPO) of JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday. The Rs 251.2 crore IPO received bids for 22,69,11,245 shares against 81,68,714 shares on offer, according to data available with the NSE. The portion for non-institutional investors received 46.32 times subscriptions while the quota for Qualified Institutional Buyers (QIBs) subscribed 32.09 times, and the category for retail individual investors (RIIs) attracted 17.43 times subscriptions. The zinc oxide manufacturer's initial public offer proposed a fresh issue of up to Rs 165 crore shares and an offer for sale of up to 39 lakh equity. The IPO was in a price range of Rs 210-221 a share. JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals' material subsidiary BDJ Oxides, and Rs 35 crore will be used for funding the long-term working

A big leap

Investment in semiconductors is just beginning

Microsoft, Walmart help Israeli VC Team8 raise $500 mn to support startups

Moody's Corp. and Temasek Holdings Pte also backed the three new funds and follow-on funding that brings Team8's assets under management to more than $1 billion

PE firms Advent, Multiples to invest Rs 1,930 cr in Svatantra Microfin

The investment follows Svatantra's recent acquisition of Chaitanya India Fin Credit Limited

Odisha approves 22 industrial projects worth investment of Rs 4,000 crore

Furthering its industrialisation process, Odisha government on Monday approved 22 projects worth an investment of Rs 4,066 crore. The proposals got the state government's nod at the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Chief Secretary PK Jena. The projects are in different sectors such as green energy equipment, chemicals, textiles and apparel, steel, iron & ferro alloys, aluminium downstream, food processing, power & renewable energy, IT infrastructure and infrastructure & logistics, a release said. The projects after proper implementation are likely generate 25,525 jobs in 12 districts, officials said. In the green energy sector, Waaree Clean Energy Solutions Pvt Limited is planning to establish its electrolyser manufacturing plant in Khurda, with a project cost of Rs 435 crore, promising 300 jobs. In the chemical sector, Shalimar Paints has proposed to set up its unit in Balasore for paints varnish and its applied products project, ..

Rs 41,000 crore investment in city gas projects in N-E, J&K: Minister Puri

Six north eastern states and two Union Territories of Jammu and Kashmir and Ladakh will see Rs 41,000 crore investment in rollout of city gas network to retail CNG to automobiles and piped cooking gas to houses over the next few years, Oil Minister Hardeep Singh Puri said on Monday. Speaking at a function to award licences to the winners of 12th city gas distribution (CGD) bidding round, he said with the award of licences for 8 geographical areas covering 103 districts in six north eastern states of Arunachal Pradesh, Meghalaya, Manipur, Nagaland, Sikkim and Mizoram and two Union Territories of Jammu and Kashmir and Ladakh, the city gas network now covers the entire country except the islands. "Anticipated investment for 12th CGD bidding round is Rs 41,000 crore generating considerable employment opportunities," he said. While the consortium of Bharat Petroleum and Oil India Ltd won the city gas licence for Arunachal Pradesh, Haryana City Gas bagged the same for Meghalaya. State-own

IBM expands Expert Labs in India to guide clients on emerging tech adoption

It is critical to have the right skill sets and talent to integrate new technologies into their existing IT landscape/business processes

FD for senior citizens: Here are the best rates, but should you invest?

Small Finance Banks offer the highest interest rates to senior citizens on fixed deposits

Talk less, work more: MP's investor summit reflects its changed leadership

Chief Minister Mohan Singh Yadav unveils plans for state's industrial growth

India to be on high-stake global stage of chip makers in 5 years: Vaishnaw

India has set its sights on becoming a formidable force in global semiconductor equation, rivalling known destinations like Taiwan, S Korea in next 5 years, Union Minister Ashwini Vaishnaw has said asserting that if and when mindset of global players has changed to an eagerness to invest in the country. In an interview to PTI, the minister for IT and electronics said he is of the firm belief that practically every big player would now like to reconsider their investment plans and come to India, given the carefully-crafted policies here. India will build on its design capabilities, where the country already has inherent and proven mettle and, notably, nearly one-third of the global talent. That piece alongside the proposed fab (chip fabrication plant) and the 3 ATMP (assembly and test) units in India now brings together the key elements of semiconductor value chain, effectively, according to him. "...people who were earlier thinking when should we go to India or should we go to ...

Godrej & Boyce to expand focus on smaller cities, invest Rs 40 cr in 3 yrs

Godrej & Boyce is aiming to invest about Rs 40 crore over the next three years to expand its distribution footprint for its consumer brands in the tier-II and tier-III cities. The fresh investments by the company, which sells interior solutions, furniture, appliances and locks, will see its footprint getting doubled to more than 400 towns by FY27, a senior official has said. "G&B plans to spend around Rs 10-15 crore every year on store expansion and renovation for the next three years," a company spokesperson told PTI. The company is targeting to grow its topline by 15-20 per cent per year, and it hopes for the store expansion to be one among several initiatives to realise its aim, the spokesperson added. When asked if the expansion activities will be franchisee-driven, the spokesperson said the store expansion will be both "company and channel-driven". As per the company website, it had revenues of Rs 14,796 crore in FY23 and was present in over ten industries, including ...

India-UAE non-oil trade target of $100 bn by 2030 ambitious: CII President

The target of USD 100 billion non-oil trade between India and the UAE by 2030 is ambitious but achievable as huge business opportunities are there in both the nations for sectors such as textiles, jewellery and pharma, CII President R Dinesh said on Sunday. He said that the free trade agreement between India and the UAE, which was implemented in May 2022, has resulted in a surge in bilateral trade and investments. Dinesh was here to participate in global investors' event 'Investopia' and various bilateral meetings, including with many participants at the WTO (World Trade Organisation) Ministerial Conference. "The target to achieve USD 100 billion in non-oil trade between India and UAE is ambitious but I do believe that it is achievable and recent developments are encouraging in this regard," the CII president told PTI here. He said that the agreement, officially dubbed as comprehensive economic partnership agreement, covers duty-free access to all labour-intensive sectors such as g

Hindustan Coca Cola Beverages announces Rs 350 cr investment in MP

Expansion in Rajgarh elevates total investment in state to Rs 660 cr

MP strives to double its share in GDP with Rs 1 trn investment drive

Major investments to drive state's economic growth and job creation, says CM

Madhya Pradesh eyes over Rs 1 trillion investments via investor summit

Adani group promises investments of Rs 75K cr; will generate 15,000 jobs

Adani group plans to invest about Rs 75,000 crore in Madhya Pradesh

Adani group will invest about Rs 75,000 crore in Madhya Pradesh in power plants, building Mahakaal Expressway, and setting up cement grinding units in coming years, a top group executive said on Friday. The apples-to-airport group has already invested almost Rs 18,000 crore in the state and will continue investing in diverse sectors, said Pranav Adani, Managing Director (Agro, Oil and Gas) and Director of Adani Enterprises at the Regional Industry Conclave here. "Currently, our presence in Madhya Pradesh spans a wide range of sectors - from roads, cement, and natural resources to thermal power, renewable energy and power transmission," he said. "Our faith in your (chief minister Mohan Yadav's) visionary leadership will see us investing close to Rs 75,000 crore in Madhya Pradesh," he added. He, however, did not indicate a time frame for the investment. Of this, the group will invest Rs 5,000 crore in building the Mahakaal Expressway from Ujjain to Bhopal, through Indore. "We will

Decoding GDP numbers: Consumption sluggish, govt capex powers investment

According to the latest gross domestic product (GDP) data released by the National Statistical Office on Thursday, private final consumption expenditure (PFCE) grew at 3.5 per cent in the December qtr

FPI inflows remain muted in February amid high valuations, shows data

Overseas funds seen favouring less expensive Korea, Taiwan markets

India, South Africa block investment agreement at WTO's Abu Dhabi meet

"It's hard to tell if we are going to land something or if we are sleepwalking into failure," said one trade delegate