Page 41 - Investment

Motilal Oswal secures Rs 1,250 cr in first close for AIF real estate fund

Motilal Oswal Alternates (MO Alts), the alternative investments arm of Motilal Oswal Financial Services, on Wednesday said it has successfully closed the first tranche of its sixth real estate fund, India Realty Excellence Fund VI (IREF VI) and has secured commitments of approximately Rs 1,250 crore in this first close. The company said it is a significant milestone for MO Alts, achieving the largest and fastest first close for any of their real estate funds to date. The fund will scout for opportunities in real estate in Kolkata and seven other top cities of India including Mumbai, Delhi-NCR, Pune, Bangalore and Chennai. IREF VI strategically focuses on early-stage investments, primarily targeting mid-income/affordable residential projects across India's top eight cities. "This successful fundraising, even amidst a buoyant equity market, underscores the unwavering trust our investors have placed in our capabilities," MO Alts, MD & CEO, Vishal Tulsyan said. MO Alts said it boasts

Govt eases FDI norms in space sector; 100% in satellites components

The government on Wednesday eased Foreign Direct Investment (FDI) norms in the space sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The decision was taken at the Cabinet meeting chaired by Prime Minister Narendra Modi. Now, the satellite sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector, according to an official statement. Presently, FDI in the space sector is allowed up to 100 per cent in the area of satellite establishment and operations through government route only. By changing the current policy, the government has allowed up to 74 per cent FDI under automatic route in satellites-manufacturing and operation, satellite data products, and ground and user segments. Beyond this limit, government approval will be required in these areas for FDI, it said. Up to 49 per cent FDI is al

Cryptoverse: Breezy bitcoin reclaims $1 trillion crown, up 22% this year

Its resurgence has electrified the broader cryptocurrency market, including ether and other digital coins, which has now exceeded $2 trillion, as per data from CoinGecko

India opposes China-led investment facilitation proposal at WTO

This is because investment, as a subject, falls outside the mandate of the WTO. Besides, India is fundamentally against plurilateral pacts on multilateral platforms such as the WTO

Electric vehicle startup Vidyut raises $10 mn from 3one4 Capital, others

Electric vehicle startup Vidyut on Tuesday said it has secured USD 10 million capital funding comprising equity and debt in Series A fundraising for expanding its bouquet of services. The Series A funding round was led by 3one4 Capital along with participation from new and existing investors such as Saison Capital, Zephyr Peacock, Force Ventures, Alteria Capital and CEO of Udaan Capital Sujeet Kumar, the company said in a statement. Vidyut said it will now offer EV insurance, lifecycle management, and EV resale, and it is also looking to expand its presence to 40 cities. The company said it aims to double the headcount by the end of next fiscal as it prepares to build a full-stack EV ecosystem and that it will utilise the fresh capital to scale its offerings to the EV ecosystem. "Our focus is not just on financing but on elevating the entire EV ownership journey for India's SMBs, who are the backbone of our economy," said Gaurav Srivastava, Co-founder of Vidyut. Founded in 2021, .

EPFO adds net 1.56 mn members; 841,000 new subscribers join workforce

Retirement fund body EPFO recorded a net addition of 15.62 lakh members in December 2023, according to payroll data released on Tuesday. An increase of 11.97 per cent has been registered in net member addition during December 2023 compared to the previous month, a labour ministry statement said. Employees' Provident Fund Organisation's provisional payroll data highlighted that the net addition of 15.62 lakh members was up by 4.62 per cent compared to December 2022, it stated. This surge in membership can be attributed to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO's outreach programmes, it explained. The data showed that around 8.41 lakh new members were enrolled in December 2023, up by 14.21 per cent compared with the previous month of November 2023. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 57.18 per cent of the total new members ad

Govt mulls setting up maritime development fund to support shipping sector

The government is considering setting up a maritime development fund with a view to providing low cost, long-term financial support to the shipping sector, a senior government official said on Tuesday. Ministry of Ports, Shipping and Waterways Secretary T K Ramachandran at an event organised by industry body CII said, the government is also looking at granting infrastructure status to the shipping sector. "The government is working to set up Maritime Development Fund (MDF) for low-cost, long-term financing support," Ramachandran said. According to him, the two options for setting up MDF are -- setting up dedicated maritime vertical under the newly proposed development finance institution, or constituting standalone MDF as a company with majority ownership by multilateral/ bilateral agency. Ramachandran further said the government is also considering notifying guidelines for setting up NBFCs at International Financial Services Centre (IFSC) to undertake vessel financing/ leasing fro

Japan to invest Rs 12,800 crore for 9 projects in various sectors in India

The finance ministry on Tuesday said that the Japanese government has committed a loan of 232.209 billion yen (about Rs 12,800 crore) for nine projects related to various sectors in India. The projects included North East Road Network Connectivity, Project for Promoting Start-up and Innovation in Telangana, Project for the Construction of Chennai Peripheral Ring Road, Project for Promoting Sustainable Horticulture in Haryana and Project for Climate Change Response and ecosystem Services Enhancement in Rajasthan. The road network connectivity projects aim to improve infrastructure development in India's north-east region, while the Chennai peripheral ring road project aims to alleviate traffic congestion and strengthen connections to the southern part of the state, the finance ministry said in a statement. The agreement to this effect was signed between Vikas Sheel, Additional Secretary, Department of Economic Affairs, and Suzuki Hiroshi, Ambassador of Japan to India. "The project i

Ayodhya to get investments of over Rs 10,155 cr from UP govt at GBC

Under the visionary leadership of Chief Minister Yogi Adityanath, Ayodhya has undergone a transformative journey towards development, making it an appealing destination for investors

Around 2.1 million PACL investors get their money back, says Sebi

Nearly 21 lakh investors in PACL's illegal investment schemes, with claims of up to Rs 19,000, have received Rs 1,022 crore in refunds, markets regulator Sebi said on Thursday. The regulator had found that PACL Ltd, which had raised money from the public in the name of agriculture and real estate businesses, collected more than Rs 60,000 crore through illegal collective investment schemes. A panel headed by retired Justice RM Lodha had initiated the process of refunds in phases for investors, who had invested in PACL. "As on date, the committee has successfully effected refunds in respect of a total number of 20,84,635 eligible applications with outstanding (principal) amount up to Rs 19,000 aggregating to Rs 1,021.84 crore," the statement noted. In December 2015, the Securities and Exchange Board Board of India (Sebi) had ordered the attachment of all assets of PACL and its nine promoters and directors for their failure to refund the money that was due to investors. Sebi had aske

Use laddering to average out returns, minimise reinvestment risks

Those keen to strike a balance between risk and reward may go for barbell strategy

Mutual Fund investors' grievances decline to 485 in first half of FY24

Mutual funds industry body Amfi on Wednesday said that the number of complaints received from investors and distributors was 485 for the half-year ended September 30, 2023, a decline of 21 per cent from the year-ago period. The consistently low complaint numbers highlight the mutual fund industry's continuous efforts to elevate service quality and transparency. In the first half of the fiscal year 2023-24, a total of 485 complaints were received, which was way lower than 619 complaints received in the same period of preceding fiscal, Association of Mutual Funds in India (Amfi) said in a statement. For the same period, the net assets under management increased from Rs 41.62 lakh crore in April 2023 to Rs 46.58 lakh crore at the end of September 2023 driven by a strong equity market, steady interest rates, and robust economic growth. "While the industry is growing at a fast clip, the data suggests that complaints against the MF industry are low," the industry body noted. Of these 48

Warehousing & logistics sector resilient amid investment drought: Vestian

Vestian stated that the sector received investments worth $646 million in 2023, accounting for 15 per cent of the total institutional investment received in the real estate sector

Govt signs bilateral investment treaty with UAE to promote investments

India and the UAE on Tuesday signed the Bilateral Investment Treaty (BIT), which will be a key enabler for further promoting investments in both countries. Prime Minister Narendra Modi and UAE's President Sheikh Mohamed bin Zayed Al Nahyan leaders witnessed the exchange of the BIT. "This agreement will be a key enabler for further promoting investments in both countries," India's Ministry of External Affairs said in a statement. India has signed both a Bilateral Investment Treaty and a Comprehensive Economic Partnership Agreement with the UAE, the statement added. Earlier in the month, the Union Cabinet in New Delhi gave its approval for signing and ratification of BIT with the UAE. The BIT is aimed at improving the confidence of investors, especially big investors, resulting in a rise in foreign investments and overseas direct investment (ODI) opportunities. It is also likely to have a positive impact on employment generation. Besides increasing investments in India, the BIT wit

IPV to invest Rs 150-200 cr in startups, exits 14 firms with 61% return

Angel investment platform Inflection Point Ventures is planning to make fresh investments in the range of Rs 150-200 crore in startups this year, a senior company official said. The company announced partial and full exit from 14 firms with an average 61 per cent internal rate of return in 2023. "We have made a total investment of around Rs 750 crore till date out of Rs 1,200 crore fund. This year, we will be investing in the range of Rs 150-200 crore," IPV founder and CEO Vinay Bansal told PTI. He said the company has made 56 investments in 2023, comprising 46 new investments and around 10 follow-on investments. "We had 14 exits. One of the exits was that of 40 times multiple, and overall average IRR was 61 per cent," Bansal said. The company has a portfolio of about 200 companies. IPV fully exited three startups in 2023 -- Koovers, Sportido and a media startup. The company made the highest return of over 200 per cent from a full exit in the media venture. "We continue to stay

Exim Bank looks to raise up to $1 billion in FY24 for commercial lending

The liquidity is comfortable in the international market, and the conditions are better for Indian entities than a few months ago in terms of raising resources, Bangari said

Uttar Pradesh govt targets 1 million tonne capacity and 120,000 jobs

The state had received investment proposals worth Rs 2.73 trillion for green hydrogen plants from 20 companies at the UP Global Investors Summit in February 2023

Sebi mulls framework for FPIs to sell assets after expiry of registration

Currently, there is no provision to deal with securities lying frozen in the demat accounts of FPIs whose registration has expired

Equity mutual fund inflows hit 22-month high in January, shows data

Strong start to new calendar year with gross inflows topping Rs 50K crore; Industry AUM nears Rs 53 trn

TMS Ep625: Fixing taxi fares, Bajaj CNG bikes, Maruti shares, hot money

Has the Karnataka govt gone too far by setting cab fares? How will CNG bikes change the two-wheeler industry? Why are Maruti shares taking the back seat? What is hot money? All answers here