PRIVATE INVESTMENT
Private equity deals in Indian real estate increased marginally
Private equity deals in Indian real estate surged in Q1 FY25, mainly due to a significant investment in Reliance Retail's warehousing assets. The $1.5 billion Reliance-ADIA-KKR deal represented 71% of total PE deals. Despite an overall weak macroeconomic environment, deal sizes increased by 23% year-on-year. Other notable transactions occurred in Hyderabad, Bengaluru, Pune, and MMR.
HNIs looking to diversify warm up to private credit funds
High net-worth individuals are increasingly turning to private credit funds due to the removal of tax benefits for debt mutual funds. This shift reflects a growing interest in fixed-income options among the affluent segment.
Union Budget: These infra measures will give a roadmap for the infrastructure for the next five years
UNION BUDGET 2024: Finance Minister Nirmala Sitharaman 8in the Interim Budget 2024-25 outlined India's focus on infrastructure, with ₹11.1 lakh crore allocated for capital investment, up 11% from the previous year. Despite fiscal challenges, the budget emphasizes project completion, private sector participation via incentives, and sustainable infrastructure development. Key areas include digital infrastructure, tourism, water management, and safety improvements in transportation sectors.
At private dinner, Modi & Putin discuss Eurasian geopolitics, Indian investments
Prime Minister Narendra Modi and Russian President Vladimir Putin engaged in a detailed dialogue on Monday addressing the Eurasian landscape and its security, trade imbalance, the upcoming BRICS summit in Kazan, joint defense manufacturing under the 'Make in India' initiative, and India's expansion in the Far-East via the Vladivostok-Chennai maritime corridor.
Dezerv raises $30 million in strategic funding round led by Premji Invest
Dezerv, an investment management platform, has raised $30 million in funding led by Premji Invest. The company plans to develop new investment strategies for high-net-worth individuals and increase its assets under management. With a primary capital raise of Rs 265 crore and a secondary component of Rs 53 crore, Dezerv is set for growth.
Congress slams govt over 'private investment plans slumping to 20-year low'
The FDI as percentage of GDP rose from 0.8% in 2004 to 1.7% in 2014 under Manmohan Singh's stewardship, Jairam Ramesh said, adding that as of 2022, it is now 1.5%.
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Navigating bull run: Rajesh Palviya's insights on Bank Nifty and sectoral moves
Rajesh Palviya of Axis Securities provides insights into the current trends and expectations for Bank Nifty, highlighting key support and resistance levels. He discusses the impact of recent performances by private and PSU banks and shares his views on sustaining the market's bull run driven by bullish sentiment and liquidity flows.
Former RBI Guv Urjit Patel set to join Britannia Industries board again
Urjit Patel, former RBI governor, joins Britannia Industries board as an independent director. He recommenced after a two-year hiatus following his resignation in 2018. Patel’s diverse experience includes stints in both the private sector and central bank, distinguishing him from his predecessors. As a seasoned professional, he brings a unique perspective to the boardroom, ensuring a blend of regulatory expertise and corporate governance.
Carlyle, CVC & Hillhouse in the fray for GeBBS
Global private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified.
Industry needs to boost capital investments to capitalise on growth opportunities: Anand Mahindra
Anand Mahindra, Chairman of Mahindra Group, emphasized the need for Indian companies to increase capital investment to leverage growth opportunities domestically and globally. In the company's annual report for 2023-24, Mahindra highlighted India's strengthened position in global supply chains post-COVID, urging private industry to seize this momentum. He stressed that private investment is crucial for driving economic growth, creating jobs, and stimulating demand.
Indian real estate witnesses $1.7 bn private equity inflow during H1 2024
Private equity investment in the Indian real estate sector reached USD 1.7 billion in the first half of 2024, marking a 42% increase year-on-year, as reported by Savills India. However, Q2 2024 saw investments of USD 1.1 billion, similar to the previous year's figures.
What should investors do with HDFC Bank stocks? Rahul Shah answers
So, a good IPO and the way they have priced it also, as you rightly said, that very reasonably priced and some money to be made on the table for the investors and in a pharma pack when we are seeing that most of the pharma packs are doing quite well and the way the segment which has been into Emcure is into, so all the front they have been firing at this point of time.
Could IT make a meaningful comeback in Q1? Deven Choksey explains
Deven Choksey highlights the importance of sticking with larger banks for business growth and emphasizes the positive outlook for IT companies. Additionally, L&T's promising future is underlined by margin expansion and improved execution. Choksey further says that one shouldn't expect too big a rally in IT and that one should stay focused on some of the larger banks as far as the portfolio investment is concerned
Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority
Purplle has also announced a Employee Stock Ownership Plan (Esop) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company cofounder and CEO said they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
BlackRock to buy UK data group Preqin for $3.2 billion
Expanding into private markets data, I acquire Preqin for 2.55 billion pounds to offer enhanced solutions for fund managers. With a growth rate of 20%, Preqin will facilitate private markets investing, providing an accessible platform for investors. The acquisition aims to create a seamless experience for all stakeholders.
BlackRock to buy UK data group Preqin for $3.2 bln
BlackRock has agreed to acquire UK data firm Preqin for £2.55 billion ($3.23 billion) in cash, enhancing its presence in the private markets data sector. The acquisition will integrate Preqin's data and research capabilities with BlackRock's Aladdin portfolio management software. Preqin will remain available as a standalone solution. Expected to generate $240 million in recurring revenue in 2024, Preqin has grown 20% annually over the past three years. Founder Mark O'Hare will join BlackRock as vice chair. Sudhir Nair, BlackRock's Aladdin head, emphasized the goal of making private markets investing more accessible.
Fresh capital raised via IPOs surges to a 9-year high, hints at private capex revival
Of the ₹33,610 crore raised by 37 companies so far in 2024, about 45%, or ₹15,190 crore, were through new shares, the highest proportion since 2015, when India Inc. raised nearly 48% fresh capital, according to data from primedatabase.com. The funds raised as fresh issues in 2024 were to either finance capital assets or retire existing debt obtained to build capacities, according to IPO documents.
Economists bat for capex push, fiscal prudence and more jobs at pre-Budget meet
Budget 2024: The focus on the quality of spending, sans mindless freebies, and steps to further curb inflationary pressure should continue, some of the economists told finance minister Nirmala Sitharaman at the customary pre-budget consultation, advising against reckless giveaways. Successful tackling of inflation, they said, would be the biggest pro-poor move.
Job creation is India's top economic challenge, policy experts say
According to a poll of policy experts by Reuters, tackling India's chronic joblessness will be the biggest challenge for the government over the next five years, despite the country's status as the world's fastest-growing major economy. The economy grew more than 8% last fiscal year, but this growth has not translated into sufficient job creation, particularly for young people. The recent parliamentary elections saw Prime Minister Narendra Modi's BJP losing its majority, partly due to issues such as widening inequality, inflation pressure, and a lack of well-paying jobs.
RBI economists call for higher private investments, warn rising food prices could derail disinflation process
RBI economists emphasize the need for higher private investments to drive growth amidst a disinflationary stance to manage spillover effects of elevated food prices, potentially delaying rate adjustments even if CPI hits target levels.
Growth, consumption to investment-led
The investment upcycle is now being powered by both public and private sectors. There is also a revival in manufacturing exports that adds to the tailwind. The economy is now adjusting from consumption- to investment-led growth. And all of it is not cyclical. Some of the demand shift may be permanent. This opens up prospects of India achieving materially more of its growth potential.
PLI scheme to attract Rs 3-4 lakh cr investments over 4 yrs; pvt sector capex may accelerate: Icra
Production-Linked Incentive (PLI) scheme is projected to draw investments worth Rs 3-4 lakh crore over four years, creating 2 lakh jobs. Icra Executive VP K Ravichandran foresees private sector capex growth in sectors like oil, gas, metals, healthcare, and cement, with potential tax breaks to boost disposable income for higher investments.
Modi 3.0: Growth sequel starring jobs, investment
The full budget, likely to be presented early in July, will detail specific measures toward this end. "The focus would be to promote labour-intensive growth that will create jobs, with continued emphasis on macroeconomic stability," a top government official aware of the details told ET. A host of measures on startups and taxation - including inverted duty structure correction, along with GST rate rationalisation - is under discussion, said the person cited above.
Lok Sabha results won't force India's budget to make significant policy shifts: Fitch
Fitch Ratings anticipates minimal policy shifts in India post-election losses. The upcoming July budget will detail economic reform plans and fiscal goals for the next five years, crucial for addressing fiscal metrics, reducing debt, potential deviations from capital expenditure commitments, the risk of heightened social spending, progress in judicial reforms at the state level, and reforms in the manufacturing sector.
PropTech investment reaches $4.6 billion since last decade
PropTech firms have seen a significant growth in investment since FY 2011, with a total of $4.6 billion in the last 14 years. This growth is attributed to the transformative impact of technology on the real estate industry, driving efficiency and innovation. Despite global economic uncertainties, PropTech firms' funding experienced a marginal dip in FY 2024, with investments totaling $657 million, down from $683 million in FY 2023. The shared economy and construction technology segments have emerged as leaders in the PropTech space, with 55% and 23% of the overall private investments in FY 2024, respectively.
Coalition politics, weakened mandate could make passing legislations on ambitious reforms challenging: Fitch
Fitch Ratings predicts that the new government in India, led by Narendra Modi, will face challenges in passing legislation on ambitious reforms due to coalition politics and a weakened mandate. Major reforms to land and labour laws will remain on the agenda, but these have been contentious and the NDA's weaker mandate could complicate their passage further. The BJP fell short of a single-party majority in the 543-seat lower house of parliament for the first time since its latest period in government in 2014.
BJP-led NDA's narrow majority shifts focus to rural spending and increased private investments
The recent election results in India saw the ruling BJP-led NDA secure a majority, though narrower than expected. A Bernstein report predicts increased focus on direct social schemes, especially in rural areas. Private sector investments are expected to drive the capex cycle, with implications for economic growth and market dynamics. Market volatility is anticipated due to policy uncertainty, while financials remain a key sector.
Stage set for new government to press on next-generation reforms
India will continue to be the world’s fastest-growing economy and the Indian-corporate world has its hopes up as it expects the next government to continue on the reform path and steer the Indian economy towards high growth.
View: India’s state sector is thriving. That’s a problem
Ten years ago, Narendra Modi, a supporter of private sector growth, became India's Prime Minister. His focus on reviving public-sector companies challenges the expectation of minimal government involvement in business.
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