Page 54 - Investment

Tax dept notifies 'Angel Tax' rules for valuing investments in startups

The income tax department has notified rules for valuation of investments by resident and non-resident investors in startups, thus paving way for implementation of the changes brought in 2023-24 Budget. As per the changes in Rule 11UA of I-T rules, the Central Board of Direct Taxes (CBDT) provides that the valuation of compulsorily convertible preference shares (CCPS) and equity shares issued by unlisted startups can be based on the fair market value. The amended rules also retain the five new valuation methods proposed in the draft rules for consideration received from the non-residents viz., (i) Comparable Company Multiple Method, (ii) Probability Weighted Expected Return Method, (iii) Option Pricing Method, (iv) Milestone Analysis Method, and (v) Replacement Cost Method. The rules comes into effect from September 25. Deloitte India Partner Sumit Singhania said from investors' standpoint, revised rules offer wider range of valuation methodologies to work with, and that ought to m

Brazil, Mexico, India in good position to attract capital, says Haddad

The finance minister added his team would meet with 25 U.S. investors in Sao Paulo later in the day, following up on the bilateral meeting Presidents Biden and Inacio Lula da Silva held last week

Bharat Biotech plans to invest Rs 3,000-4,000 crore in post-Covid shift

Not thinking about an IPO as of now, says chairman

Aviation services provider Celebi may invest $80 million in next 4 years

Aviation services provider Celebi India may invest around USD 80 million in the business in the next four years as it eyes more airports besides enhancing cargo capacity, a top company executive has said. The company, which offers ground handling services and cargo operations, also plans to switch to an all-electric fleet across the airports it renders services at present, according to Murali Ramachandran, President for India & S-E Asia at Celebi Aviation Holdings, said. The company currently has the mandate to provide ground handling services at nine airports -- Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Cochin, Ahmedabad, Mopa (Goa) and Kannur -- and handle cargo operations at Delhi airport through a joint venture with Delhi International Airport Ltd (DIAL). "Celebi has already invested around USD 250 million (since its entry in the Indian market in 2007). In terms of expected investment, we will be adding USD 28 million in ground handling in the next four years. Around USD ..

MotoGP event to help promote global automobile investments in UP: Yogi

Uttar Pradesh has a lot of potential for sports activities and that is why both the state government as well as the Centre are making all possible efforts to promote this sector, Chief Minister Yogi Adityanath said ahead of the MotoGP main event in Greater Noida on Sunday. He said this during his address at the Business Conclave ahead of the main race of MotoGP in which representatives of several major domestic and multinational companies participated, with UP government's MSME Minister Rakesh Sachan and Industrial, Exports Development Minister Nand Gopal Gupta in attendance. The chief minister said he has been informed that more than one lakh tickets have been sold for the high-pulsating motorcycle race's maiden show in India being held at the Buddh International Circuit (BIC). "More than 275 national and international brands are associated with the MotoGP event which include BMW, Tissot, Michelin, RedBull, Shell, DHL, Oakley, Amazon, Petronas, etc. This race also provides an ...

Parliamentary committee seeks annual review of ESIC investment policy

This comes as interest received by it from govt bonds has seen a decline

Centre working on action plan to increase investments in startup sector

Officials said that ministries will have to expand their capacity to support the growing number of startups in the country

Investing in a green house? Evaluate local demand to ensure sound return

End users should assess whether their duration of stay justifies its higher upfront cost

Mamata Banerjee reaches Dubai from Spain, to hold meetings with investors

After a "successful" tour of Spain, West Bengal Chief Minister Mamata Banerjee on Thursday morning reached the UAE where she will attend a series of meetings, including a business summit, a state government official said. Banerjee, who is scheduled to stay in Dubai till her planned return to Kolkata on September 23, will participate in a business summit and also meet a group of NRIs there, he said. "The chief minister reached the UAE early this morning. She will be staying there for the next two days and will attend a series of meetings, including a business summit. She will also meet a group of NRIs," the official said. Banerjee left for Spain on September 12 after a one-night stopover in Dubai, in a bid to attract investments in the state. She visited Madrid and Barcelona in Spain. During her stay in the European country, the chief minister met several investors and held meetings with NRIs, the official said. Among other significant developments, the Bengal government has signed

Visa application startup Atlys raises $12 million in series A funding

Investment round led by Peak XV and Elevation Capital

Mutual funds attract 6% of household savings in FY23, shows RBI data

Fiscal sees a record Rs 1.8 trillion net inflows from households

CCI clears acquisition of 11% of TVS Credit Services by Premji Invest

Fair trade regulator CCI on Wednesday said it has cleared the proposed acquisition of about 11 per cent stake in TVS Credit Services Ltd by PI Opportunities Fund-I Scheme-II (PIOF-II) and certain individuals. PI Opportunities Fund-I Scheme-II, is a Sebi-registered Alternative Investment Fund (AIF), owned and controlled by Premji Invest Ltd. "The combination relates to the proposed acquisition of 10.98 per cent stake of target (TVS Credit Services) by the acquirers," an official release said. "PIOF-II shall be acquiring about 10.79 per cent of shareholding in the TVS Credit (target), whereas the individual acquirers shall collectively be acquiring 0.19 per cent shareholding," it stated. The individual acquirers are senior-level management employees, partners, consultants of Premji Invest and its affiliates. TVS Credit Services Ltd is a non-banking financial company. In a separate release, the Competition Commission of India (CCI) approved the proposed acquisition of additional uni

Tense relations may not impact trade ties between India, Canada: Experts

The tense diplomatic relations between India and Canada are unlikely to impact trade and investments between the two countries as economic ties are driven by commercial considerations, according to experts. Both India and Canada trade in complementary products and do not compete on similar products. "Hence, the trade relationship will continue to grow and not be affected by day-to-day events," Global Trade Research Initiative (GTRI) Co-Founder Ajay Srivastava said. Certain political developments have led to a pause in negotiations for a free trade agreement between the two countries. On September 10, Prime Minister Narendra Modi conveyed to his Canadian counterpart Justin Trudeau India's strong concerns about the continuing anti-India activities of extremist elements in Canada that were promoting secessionism, inciting violence against its diplomats and threatening the Indian community there. India on Tuesday announced the expulsion of a Canadian diplomat hours after Canada asked

Best of BS Opinion: Investment for growth, a search for fairness, and more

Here is the best of Business Standard's opinion pieces for today

Investment for growth

Encouraging private investment stays a challenge

Best of BS Opinion: Being people-centric, uncertain future for TDP & more

Here is the best of Business Standard's opinion pieces for today

Dabur eyes Rs 5,000 crore sales from healthcare in around 5 years

Homegrown FMCG products maker Dabur India is targeting Rs 5,000 crore in sales from its healthcare segment and Rs 7,000 crore from home and personal care vertical in the next 5-7 years, the company said in an investor meeting on Friday. Both healthcare and home and personal care verticals, part of the consumer care business, are major contributors to Dabur's business. In FY23, together accounted for 56.2 per cent of the consolidated sales of Dabur, which was Rs 11,530 crore. Besides, the company expects demand for natural products like herbal and Ayurvedic to grow in line with increasing per capita income. The company will also have more premium products in the power brands as the number of upper-middle-class people would grow. Besides, consumption of Low Unit Packs (LUP) would also grow in the rural markets, said Dabur CEO Mohit Malhotra. "LUP penetration would grow in this country. Dabur as an organisation, should add more LUP for more penetration in rural. More premium products

Britain to pump $621 million into Tata Steel to decarbonise Welsh plant

Tata Steel currently employs more than 8,000 people, raising the prospect that there will be as many as 3,000 redundancies as the lower-carbon electric furnaces are less labour intensive

Ashok Leyland to set up bus plant in Uttar Pradesh, invest Rs 1,000 cr

Upon commencement of operations, the manufacturing facility will initially have the capacity to produce 2500 buses per year

How to activate a dormant PPF account? Here are the steps to follow

If you have an inactive PPF account, then you will be deprived of many benefits. You have to deposit Rs 500 each year to keep it activated. Here are the steps to activate your dormant account