Policy
Cap On Single Holding In Exchanges Go To 15% - Market regulator SEBI is examining a proposal to raise the equity holding limit in stock exchanges from 5 per cent to 15 per cent. The revised cap would be applicable for single investors, both local and foreign, reports Economic Times. The proposal is being examined [...]
Call it India’s Communications Revolution V 2.0. After the government came out with norms for the launch of next generation phone services through 3G, now it is also on the verge of fully ushering in internet telephony in the country. The telecom regulator has removed restrictions on net telephony which allows internet service providers (ISPs) [...]
It’s unlikely anyone will complain about liquidity crunch in the stock markets next year. The government has relaxed investment norms for private sector managed provident fund (PF) and superannuation trusts - who manage a combined Rs 5 trillion worth funds of 40 million employees. According to the revised norms, which will come effective from next [...]
Policy
Govt Rejects SBI-SocGen JV Proposal For Depository Services
Govt May Have Nixed Jacob Ballas Deal In Devyani International
SEBI Reduces Rights Issue Timelines To 43 Days; QIP Pricing Norms Relaxed
Mergers & Acquisitions
SHCIL, IFCI Offload NSE Shares; Reported Valuation Of NSE $4B
Australia’s IPGA Buys Into Real Estate Portal RealAcres.com
Tesco Finally Gets Indian Partner, Tata’s Trent
Auto Componet Maker Federal-Mogul [...]
Indian market regulator Securities Exchange Board of India has announced several measures which would make fund raising easier for Indian businesses. One decision is to reduce the timelines for rights issues from 109 days currently to 43 days, which will make the entire capital raising via rights issue a faster excercise.
The other key decision is [...]
Indian Pharma Co Bags $35M Order From UNICEF, Will Earn Over $50M In Next Two Quarters -
Panacea Biotec is learnt to have bagged a $35-million drug supply order from UNICEF to supply pentavalent vaccines, the first Indian company to get such a contract. Pentavalent combines four vaccines - Diptheria, Tetanus, Pertussis, Hepatatis B and HIB [...]
The government has more or less clarified the status of private equity investment in Indian retail. And its not good news for foreign PE firms looking to invest specially in a firm which is a franchisee of a foreign brand. What is interesting is that PE firms will not get to invest even in retail [...]
The government has nixed the expansion plans of one of its own. The proposed joint venture between SBI, the largest commercial bank in the country, and Societe Generale (SocGen) for providing custodial and depository services has hit a roadblock with the Foreign Investment Promotion Board (FIPB), the nodal body for clearing foreign investment in India, [...]
Private Equity
Capvent Readies $250-Million To Invest In First & Second Time Funds
Lighthouse Announces First Closing Of Rs 500-Crore India 2020 Fund
Promethean Becomes Elephant Capital; Burmans Take Charge
ADAG Forms Entity To Raise $1 Billion Private Equity Fund; Ramesh Venkat To Head It
Gaja Capital Raises Funds From Electra, Goldman Sachs
AMP Capital Announces $750-M Asian Infra Fund; To [...]
Today The Economic Times headlined that the government is contemplating stricter norms which will mark the end of “joyride” for the fledgling private equity industry in India. Even though the headline (”Muzzling PEs, VCs”), sounded more like an over-enthusiastic sub-editor’s job to sensationalise a statement of a joint secretary in the finance ministry, the noise [...]
Corporate
Aditya Birla To Build $10bn Financial Services Biz - Aditya Birla Group is planning to to build a $10 billion integrated financial service business, spanning everything from stock broking and consumer finance to life and non-life insurance. The group is planning to grow through both organic and inorganic method, reports Financial Chronicle. It is [...]
Telecom sector is clearly in the midst of big action, but then, when was it not? After the policy for launch of next generation 3G services on the mobile, now the government is moving another step ahead by allowing mobile virtual network operators (MVNO) to set up shop in the country. Telecom regulator, TRAI has [...]
The Indian government has finally come out with a 3G policy for telecom sector, which could mean big bucks for the exchequer, mega inflow from foreign players (including many new firms) besides high speed internet enabled and valued added services (VAS) straddling enhanced voice, video, data and downloading facilities on their mobile phones for the [...]
Policy
Tax Policy - According to new scrutiny norms by Central Board of Direct Taxes (CBDT), a company which has introduced fresh capital exceeding Rs 50 lakh last fiscal could come under the tax scanner. The new norms are also against invoking of the Right to Information (RTI) Act, reports Hindu Business LIne.
Delisting Norms - [...]
The stock market is down and the latest monetary tightening moves by RBI have made debt even more costlier. High inflation had led to tight monetary and credit policy stance by the central bank over the last six months but the latest quarter review from RBI has made things even worse with the corporate sector [...]
