Page 42 - Investment

Govt eyes deal with EU countries that could draw $100 billion investment

If finalised, it would mark the first time an investment commitment of this nature is secured by India as part of a free trade agreement

Investors subscribe Park Hotels IPO 59.66 times on final day of bidding

The initial share sale of Apeejay Surrendra Park Hotels, which runs hotels under the 'The Park' brand, got subscribed 59.66 times on the final day of bidding on Wednesday. The Rs 920 crore IPO received bids for 2,07,38,23,392 shares against 3,47,61,903 shares on offer, as per NSE data. The quota for Qualified Institutional Buyers (QIBs) garnered 75.14 times subscription while the portion for non-institutional investors subscribed 52.41 times. The category for retail individual investors (RIIs) received 30.35 times the subscription. The initial share sale of Apeejay Surrendra Park Hotels was fully subscribed on the first day of bidding on Monday. The Initial Public Offer (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale of up to Rs 320 crore. The IPO had a price range of Rs 147-155 a share. Proceeds from the fresh issue would be utilised towards payment of debt and for general corporate purposes. Apeejay Surrendra Park Hotels Ltd mobilised Rs 409.5 crore from an

LG enters self-laundry service in India, to invest $4 million in 2024

Leading home appliances maker LG Electronics India on Wednesday announced its entry into the self-laundry services space, where it is planning to invest USD 4 million (around Rs 33.2 crore). The company has announced a new business venture -- innovative self-laundry service, which will be for university students, said a statement from LG Electronics India, a wholly owned subsidiary of South Korean chaebol (conglomerate) LG Electronics Inc. The company said it is planning to open 200 such self-laundry service centres by the end of this year. LG's foray into the commercial washing machine multi-housing business introduces a new line of services, bringing self-laundry solutions to college and university hostels, the company said in a statement. The first self-laundry service under the initiative is being introduced by LG Electronics in a private university in Greater Noida, which will serve 1,500 students, it said. LG Electronics India MD Hong Ju Jeon said, "With self-laundry service

India needs robust policies for ethanol to sustain distillery investments

Indian Oil Corporation has set up 100 per cent ethanol dispensing outlets at 400 petrol pumps in Maharashtra, Karnataka, UP, and Tamil Nadu, Oil Minister Hardeep Singh Puri said

GFCL EV to invest Rs 6,000 crore in next 4-5 years to ramp up production

Gujarat Fluorochemicals arm GFCL EV Products on Wednesday announced an investment of Rs 6,000 crore for increasing production capacity of electric vehicle battery materials in the next 4-5 years. The company is poised to enter high-demand regions of the US, Europe and India, according to a statement. The company has already initiated long-term tie-ups with renowned global customers, underscoring the confidence in its capabilities and offerings, the statement said. "GFCL EV Products (GFCL EV), a 100 per cent subsidiary of Gujarat Fluorochemicals...announced investment of Rs 6,000 crore (out of which approx. Rs 650 crore is already invested till December 31, 2023) over the next 4-5 years," it stated. "GFL's visionary investment and unwavering commitment to innovation highlight our pivotal role in shaping the future of the EV and ESS (Energy Storage System) battery industry," Vivek Jain, Chairman of INOXGFL Group, said in the statement. The company's current product portfolio include

LIC Mutual Fund Asset Management appoints Ravi Kumar Jha as MD & CEO

LIC Mutual Fund Asset Management on Tuesday announced the appointment of Ravi Kumar Jha as its Management Director and Chief Executive. Jha has worked for over 30 years with LIC and has handled diverse positions. He was serving as executive of corporate strategy till December 2023 at the company. The 57-year-old Jha holds a bachelor's degree in commerce from Ranchi University.

Mubadala, 2 other funds acquire 8% stake in Manipal Health Enterprises

Abu-Dhabi-based Mubadala Investment Company and two other funds have acquired a minority 8 per cent stake in Manipal Health Enterprises from Singapore's sovereign wealth fund Temasek. Mubadala Investment Company in a statement on Monday said that it is investing in Manipal Health Enterprises. Temasek will continue to hold a majority stake in Manipal, it added. In April last year, Temasek acquired an additional 41 per cent stake in Manipal for more than Rs 16,300 crore, taking its total shareholding to 59 per cent in one of the country's largest hospital chains. According to sources, Temasek has reduced its stake by 8 per cent in the hospital chain. Novo Holdings and California Public Employees' Retirement System (CalPERS) are the other new investors in Manipal Health Enterprises, according to a release by the hospital chain. "Given the ever-increasing demand for high-quality hospital care across India, we look forward to supporting Manipal's growth journey in the years ahead," Hea

FinMin releases Rs 66,745 cr loan to 28 states for investment in Apr-Jan

The Ministry of Finance has released loans worth Rs 66,745 crore to 28 states under the Scheme for 'Special Assistance to States for Capital Investment'. In a written reply to Lok Sabha, Minister of State for Finance Pankaj Chaudhary said the scheme is aimed at boosting capital expenditure by states. Under the scheme, special assistance is being provided to the state governments in the form of a 50-year interest-free loan up to an overall sum of Rs 1.3 lakh crore during the financial year 2023-24. Between April 1, 2023, and February 1, 2024, Rs 66,745.21 crore has been released to 28 states under the Scheme for 'Special Assistance to States for Investment', Chaudhary said. In the 2022-23 fiscal, Rs 81,195.35 crore was released under the scheme. Capital investment projects in diverse sectors have been approved, including health, education, irrigation, water supply, power, roads, bridges and railways. Funds for meeting the state share of Jal Jeevan Mission and Pradhan Mantri Gram S

TVS Motor reiterates commitment to invest Rs 5,000 crore on future tech

TVS Motor Company on Saturday reiterated its commitment to invest Rs 5,000 crore towards design, development, and deployment of future technologies across products. "Our core is engineering and R&D, and this is driven by over 2,000 engineers backed by solid design and development capability. Our vision is to transform the quality of life of our customers, and redefine the future of mobility with technology, connectivity, and cutting-edge design," TVS Motor Company MD Sudarshan Venu said in a statement. TVS Motor Company, which operates in the two- and three-wheeler segments, exports close to 30 per cent of its annual volume, and has a presence in 80 countries. With focus on clean, connected, and technologically advanced mobility solutions, it aims to take its exports share to 50 per cent in the next few years.

PLI to only give kickstart, ultimately competition will prevail: Goyal

The industry should look at the measures under the Production-Linked Incentive (PLI) scheme as an initial support because going forward, the industry has to face competition to grow further, Commerce and Industry Minister Piyush Goyal said on Saturday. He asked the PLI incentive beneficiary firms to share their "constructive criticism and feedback for better implementation of the scheme". The idea is to make India a manufacturing powerhouse and there is a long journey ahead, he said. More than 1,200 stakeholders, including government officials and industry players are meeting here and deliberating on the progress of 14 PLI schemes. The scheme incentives should not be seen as crutches and "we are not looking to make you dependent on government subsidies. This is only like a kickstart... "The PLI scheme is only meant to give you that little bit of a boost to kickstart your effort and please look at it as a kickstart, an initial support (because) ultimately competition will prevail,"

Interim Budget 2024-25: A turning point for investment treaties

This judgment opened the floodgates, and various similar claims were raised against the government asserting the investor's rights under other BITs

Bain Capital plans to invest $7 bn in India, boost hiring in next 3-5 yrs

The Boston-based firm also plans to increase its team of 25 private equity and special situations investment professionals by 15 per cent to 20 per cent over the next two or three years

US companies turning more optimistic in China outlook, shows survey

Still, 43 per cent of surveyed AmCham members indicated they don't plan to expand their investments this year, and another 5 per cent planned to cut the spending

Andhra Pradesh Cabinet approves investment proposals worth Rs 22,302 cr

The Andhra Pradesh Cabinet on Wednesday approved several key proposals such as investments worth Rs 22,302 crore, Rs 5,060 crore towards the direct benefit transfer (DBT) scheme, recruiting teachers, among others. Presided by Chief Minister Y S Jagan Mohan Reddy, the Cabinet gave its nod to issue a notification to recruit 6,100 government teachers, fill 689 vacancies in the Forest Department and appoint secretaries to all 13,171 village panchayats having a population of more than 500 people. It also approved green energy investment proposals worth Rs 22,302 crore by the State Investment Promotion Board (SIPB), said an official release. The Cabinet greenlighted funds of Rs 5,040 crore towards the fourth tranche of the direct benefit transfer (DBT) scheme YSR Cheyutha. The meeting also approved a proposal to team up with Geneva-based educational organisation International Baccalaureate (IB) to train government school teachers and Education Department staff to handle IB syllabus, whic

Rs 50 trillion mutual fund AUM tip of the iceberg, say industry leaders

Industry will reach Rs 100 trillion by 2030, said top executives at Business Standard BFSI Insight Summit 2023

Goa will remain preferred destination for global investors, says CM Sawant

Goa will remain a preferred destination for global investors across all sectors, Chief Minister Pramod Sawant said on Monday. "We will remain a success story in the country and a preferred destination for global investors across all the sectors," he said at the Invest Goa 2024 summit here. The chief minister also said that the coastal state has benefitted from the support of the central government. "Under the leadership of PM Narendra Modi, India is now the fastest growing economy in the world. Goa has benefitted considerably due to the support of (central) government and state government," he said. He further said that his government has "given maximum attention for upgradation of skills of our young workforce through constant academia, industry dialogue and the newly launched apprentice scheme". Former Union minister Suresh Prabhu in his address said that Goa can become a hub of research and development considering a robust presence of pharma industries in the state. He said th

TN economy to be worth $2.6 trn by FY48, needs $111 bn investment: Study

State must focus on industries and urbanisation to meet potential, it says

Apac biz to triple spends on GenAI to $3.4 bn in 2024: Infosys Research

Asia Pacific businesses are sprucing up investments in generative AI (GenAI) and projected to nearly triple spends on this technology to USD 3.4 billion in 2024 across Australia, New Zealand, China, Japan, India, and Singapore, according to Infosys Research. While the spending trails North America, APAC's adoption, effectiveness, and growth are among the highest globally, it said. "Companies across Asia-Pacific are quickly ramping up investments in generative AI and entering a higher stage of maturity," the IT major's research arm, Infosys Knowledge Institute (IKI), said in the research. While APAC companies currently lag behind their North American counterparts in GenAI spending, the research forecasts a bigger increase than in any other region, that is 140 per cent. "This translates to an estimated USD 3.4 billion to be invested across Australia, New Zealand, China, Japan, India, and Singapore," it said. Infosys' Generative AI Radar APAC report includes insights from interviews

SSWC&MA approves Rs 1,937 cr project proposals for industrial expansion

The State Single Window Clearance & Monitoring Authority (SSWC&MA) has approved 27 project proposals for setting up new industrial enterprises and undertaking substantial expansion of existing units with proposed investment of around Rs 1,937 crore. SSWC&MA has approved Rs 1,937 crore project proposals and employment opportunities for 2,715 people, according to a press statement issued here on Saturday. The decision was taken during the 28th meeting of the SSWC&MA, which was presided over by Chief Minister Sukhwinder Singh Sukhu. The new proposals approved by the Authority include proposals of Xenone Healthcare and Master Formulations CO for manufacturing of tablets, capsules and ointments. Some of the other approved proposals include that of Gowthami Aquachem for manufacturing of Sodium Chlorite, Him Deep Alkalies Chemical for manufacturing of Caustic Soda Liquid, Hydrogen and Chlorine, Agro Farm Ventures for setting up a cold store, Scottill Healthcare for ...

'Fund inflow in real estate from foreign investors dips 30% to $2.73 bn'

The inflow of funds in Indian real estate from foreign investors fell 30 per cent to USD 2.73 billion last year, but the influx jumped more than two times from domestic players to USD 1.51 billion, according to real estate consultant Vestian. According to Vestian data, the total institutional investments in real estate declined 12 per cent to USD 4.3 billion in 2023, from USD 4.9 billion in the previous year. The consultant highlighted that investments from foreign funds fell 30 per cent annually because of their cautious approach, but rose 120 per cent from domestic investors. Domestic investors pumped in USD 1,511 million (USD 1.5 billion) last year, as against USD 687 million in the 2022 calendar year. However, the inflow from foreign funds stood lower at USD 2,733 million last year, as against USD 3,926 million in 2022. Accordingly, the share of domestic investors increased to 35 per cent in 2023 from 14 per cent in 2022. Shrinivas Rao, CEO of Vestian, said, "Despite uncertai