Page 12 - Investors

Investor funding in edtech driving unwarranted behaviour: Byju's Aakash CEO

Investors' funding in the edtech space is driving an unwarranted behaviour which is not good for the industry, Byju's Aakash Education Services Ltd (AESL) Managing Director and CEO Deepak Mehrotra has said. Speaking to PTI, Mehrotra also said that digital alone can't meet aspirations of medical and engineering students looking to get into premium institutions, and it is important to address requirement of new learners. "Investors' funding is very clearly driving behaviours which are not good for anyone, I only hope sanity prevails," said Mehrotra who was appointed AESL's CEO on Monday. He was replying to a query about the need for consolidation in the edtech and test preparatory space where there has been a lot of changes in the business models of several firms. During the edtech's growth stage, several brick-and-mortar test preparatory firms entered the online space, while online education firms added brick-and-mortar centres. Mehrotra said digital alone is not enough to address

Income tax notices lead to stress among startups, executives and investors

The notices were served under Section 68 of the Income Tax Act. They have clubbed the investments made in the startups, along with the revenue, to calculate the tax, according to the sources

Centre Court Capital launches Rs 350 cr maiden fund for sports, gaming

Fund has raised Rs 200 cr in commitments from investors, will focus on early-stage opportunities

Time to roll out the red carpet for all investors

After winning 2014 Lok Sabha elections and then again in 2019, the overwhelming theme of BJP clearly turned to all things Indian, ranging from "Make in India" to "Buy in India" and "Travel in India"

Retaining sheen: Gold, silver may continue to sparkle next financial year

What is worth observing for the Indian market is that since the last nine years, gold investors have made money each year, while in silver, gains have been consistent only in the last five years

Metals soften in FY24, crude oil hardens in the international market

Most base metals, except tin, have ended lower in the last two years

Aggrieved investors will participate in Byju's EGM on Friday morning

Aggrieved investors of edtech major Think and Learn, owner of Byju's brand, will participate in the extraordinary general meeting of the company to be held on Friday morning, sources aware of the development said on Thursday. Byju's EGM is scheduled to start at 10 AM IST on Friday to seek shareholders' approval to increase the authorised share capital of the company, following the USD 200 million rights issue. "Most of the investors, especially those who have gone to the NCLT, will participate in the EGM as it is the place to record their vote and raise issues," a source from the group of discontented Byju's investors said. A group of four investors - Prosus, General Atlantic, Sofina, and Peak XV - along with support from other shareholders, including Tiger and Owl Ventures, have approached the National Company Law Tribunal (NCLT) against Byju's EGM. The source said investors want to access the financial books of Byju's which they can get through EGM. The NCLT Bangalore bench on ..

Greek golden visa: New rules on property use, investment from March 31

From now on, investors aiming for residency rights will face heightened investment requirements, especially in high-demand areas such as Athens, Thessaloniki, Mykonos, Santorini, and other islands

EPFO adds net 1.6 mn members in January; 808,000 enroll for 1st time

Retirement fund body EPFO added a net 16.02 lakh subscribers in January 2024, according to payroll data released on Sunday. Around 8.08 lakh members were enrolled for the first time in January 2024, a labour ministry statement said on Sunday. The Employees' Provident Fund Organization's (EPFO) provisional payroll highlighted that the EPFO has added 16.02 lakh members on a net basis in January 2024, the ministry said. A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 56.41 per cent of the total new members added in January 2024 indicating the majority of individuals joining the organized workforce are youth, primarily first-time job seekers. The payroll data highlighted that approximately 12.17 lakh members exited and subsequently rejoined EPFO. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, ..

Offshore funds need not disclose investors in certain cases, says Sebi

In making the exemption, SEBI said the stock exchanges will have to identify the companies with no large shareholder or promoter

Karnataka HC extends interim protection to Byju Raveendran till March 28

At the February 23 EGM, Byju's investors including Prosus, General Atlantic, and Peak XV voted to remove Byju Raveendran as CEO. However, a Karnataka HC order prevented its implementation

UP has unlimited potential, some people turned it 'bimaru': CM Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath slammed previous governments on Wednesday, saying they turned the state "bimaru (sick)" in spite of its unlimited potential. He also said there was a time when no one was ready to invest in Uttar Pradesh, but the state has now emerged as a superior destination for investment in the country. Speaking at a mega loan distribution programme of the Ministry of MSMEs (Micro, Small and Medium Enterprises) here in the state capital, Adityanath said, "Uttar Pradesh is a state of unlimited potential.... Some people turned the state bimaru in spite of the that unlimited potential." The Bharatiya Janata Party (BJP) leader said when the "double-engine" government came to power, a reference to the party being in power both at the Centre and in the state, this "unlimited potential was linked to the campaign for the country's progress and development of youngsters and entrepreneurs under the leadership of Prime Minister Narendra Modi". Adityanath said o

Register alternate bank for trading as Paytm deadline nears, BSE warns investors

If you've been using your Paytm Payments Bank (PPBL) account for your trading activities, it's time to consider adding another bank account to your setup

Tesla investors write to judge who voided Elon Musk's mega-pay plan

The state judiciary's ethics code "prohibits me from considering" the letters from non-parties in the litigation "who claim to hold stock in Tesla,"she wrote to lawyers on both sides

FPI count at GIFT City doubles in last four months, shows NSDL data

Many fund managers are increasingly looking to redomicile their base to India's maiden International Financial Services Centre (IFSC), say legal experts

Sebi warns Vedanta for publishing 'unlisted ultimate holding' firm's info

Mining major Vedanta on Thursday said it has received an administrative warning from markets regulator Sebi for "publishing information related to its unlisted ultimate holding company". Vedanta received a letter from NSE on March 6, 2023, annexing a letter dated February 29, 2024, issued by the Securities and Exchange Board of India (Sebi), according to a regulatory filing. The company has been directed to place the said letter before its board and take necessary corrective steps to strengthen the internal control for corporate announcements/ press releases, it said without divulging any further information. On the details of the violations alleged to be committed, the company said the letter is "in respect of it publishing information related to its unlisted ultimate holding company". New Delhi-based Vedanta Ltd is a diversified natural resources company with interests in oil and gas, aluminium, copper, zinc, lead, silver, iron ore and steel.

Gopal Snacks collects Rs 194 cr capital from anchor investors ahead of IPO

Gopal Snacks Ltd on Tuesday said it has garnered Rs 194 crore from anchor investors, a day ahead of the start of its initial share sale. The Rajkot-based company has allotted 48.36 lakh equity shares to 19 funds at Rs 401 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website. Those who participated in the anchor round are -- BofA Securities Europe SA, Bay Capital India Fund, ITI Mutual Fund, DSP Mutual Fund, Quant Mutual Fund, Edelweiss Mutual Fund and HDFC Life Insurance Company. The issue, with a price band of Rs 381 to Rs 401 per share, will open for subscription on March 6 and conclude on March 11. The proposed initial public offering (IPO) is entirely an offer for sale (OFS) of equity shares by promoters and other selling shareholders. The OFS comprises the sale of shares by Bipinbhai Vithalbhai Hadvani, Gopal Agriproducts Private Ltd and Harsh Sureshkumar Shah. Founded in 1999, Gopal Snacks is a fast-moving consumer goods .

Starting an FD? Check out the top rates offered by banks

If you are planning to invest, bank fixed deposits (FDs) are popular among investors seeking stable returns and capital preservation. Here's a list of rates offered by different types of banks.

Moody's sees faster CY24 GDP growth; CMIE predicts low FY25 inflation

For the upcoming financial year, the RBI has projected growth of 7 per cent, while the State Bank of India (SBI) revised upwards its projection to 8 per cent

Indian consumer sentiment dips to a four-month low, shows data

The survey asks households about their current well-being and their expectations from the future