Page 50 - Investment

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

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