Page 2 - Investor

Year after Hindenburg: Adani claws back narrative on biz fundamentals

It has a reputation of tearing down some of the best known corporates, and so when Hindenburg Research a year back accused the Adani Group of "brazen stock manipulation" and accounting fraud, it lead to a stock market rout that erased about USD 150 billion in market value at its lowest point. But unlike its previous targets, tycoon Gautam Adani, who was the world's second-richest man before the damning January 24, 2023 Hindenburg report, has managed to claw back the narrative on strength of his group's business fundamentals and performance as well as investors continuing to pour in money into his apples-to-airport conglomerate. The conglomerate vehemently denied all allegations as it redrew its strategy that included trimming debt through prepayments and repayments of borrowings, paring the founder's share pledge and bringing in both promoter and marquee investor equity. The strategy seems to be paying off with share prices of some of the 10 listed companies recovering all of the ..

RBI directs issuers to specify utilisation of funds raised via NCDs, CPs

For better transparency, issuers are now required to disclose long-term and unaccepted credit ratings in the offer document

BJP election victories fire up market, 'boost' investor sentiment

Results give message of political continuity and 'augur well' for macroeconomics, say analysts

Sebi notifies rules to strengthen investor grievance redressal mechanism

Capital market regulator Sebi has notified rules to strengthen investor grievance redressal mechanism wherein complaints will have to be addressed by the entities concerned within 21 days. The new rules also come against the backdrop of increasing participation of investors in the securities markets. Now, merchant bankers, debenture trustees, registrar to an issue, share transfer agent and a know your client registration agency will redress investor grievances within 21 days, according to a notification issued on Thursday. The rules will also be applicable to portfolio managers, investment advisers and research analysts. Sebi can also recognise a body corporate for handling and monitoring the grievance redressal process within the stipulated time. The new framework will be called Sebi's Facilitation of Grievance Redressal Mechanism Rules 2023. In June, the regulator's board approved a proposal to revamp Sebi Complaint Redress System (SCORES) to strengthen the process of redressal

TN plans global investors' meet in Jan; attracts Rs 2.73 trillion in 2 yrs

Over 300 MoUs translating into investments worth Rs 3 trillion were signed at the last GIM in 2019

28% GST to lead to write-off of $2.5 bn investment in e-gaming: Investors

The GST Council's decision to levy a 28 per cent tax on real money online gaming industry will lead to an impairment of USD 2.5 billion of investment made in the segment, a group of 30 Indian and foreign Investors said in a joint letter to Prime Minister Narendra Modi. In a letter dated July 21, leading Investors Including Peak XV Capital, Tiger Global, DST Global, Bennett, Coleman & Company Limited, Alpha Wave Global, Chrys Capital, Lumikai etc have sought the Prime Minister's intervention in the decision of GST Council which is expected to hit prospective investment to the tune of USD 4 billion in the next 3-4 years. "The current GST proposal will set up the most onerous tax regime for the gaming sector globally, which will lead to a potential write-off of the USD 2.5 billion capital invested in this sector," the letter said. Investors said the GST Council's decision has caused shock and dismay and will substantially and meaningfully erode investor confidence in the backing of ..

Sebi to auction 22 properties of Bishal Group, NVD Solar on August 14

Capital markets regulator Sebi on Wednesday said it will auction 22 properties belonging to Bishal Group of companies and NVD Solar on August 14 to recover money illegally collected from investors. The properties will be auctioned at a reserve price of nearly Rs 37 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi). Of the 22 properties, 17 relate to Bishal Group of companies (Bishal Abasan India Ltd, Bishal Distillers Ld, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd) and five pertain to NVD Solar. These properties include land parcels, flats and a residential building located in West Bengal. Inviting bids for the sale of properties in the recovery proceedings against the companies and their promoters and directors, Sebi said the auction will be conducted online on August 14 from 10:30 am to 12:30 pm. Adroit Technical Services has been appointed as the e-auction service provider. The regulator has asked

Proptech firm Reloy raises Rs 7.2 cr from investors to grow business

HDFC Capital-backed proptech firm Reloy, which helps realtors in generating referral sales, has raised Rs 7.2 crore from investors to expand its business. In a pre-series A2 funding round, Reloy (earlier known as Loyalie) said all the existing investors participated along with new investors like BlueLotus VC and Dream Green Capital. The investment will be used to fuel the company's growth and expansion plans, the company said. In February last year, the company had raised Rs 5.9 crore from investors, taking the total external funding to over Rs 13 crore. "India is now the world's most populated nation with only the 7th largest land mass. We need our builders to create the largest cities the world has ever seen. It's time we empowered good builders with our referrals," Reloy founder and CEO Akhil Saraf said. "Our solution streamlines the post-purchase journey that homeowners have with builders and rewards them with benefits across ancillary requirements of home interiors and home .

UAE emerges 4th-largest investor in India, FDI jumps over 3x in FY23

The United Arab Emirates (UAE), with which India implemented a comprehensive free trade agreement in May last year, has emerged as the fourth largest investor in India during 2022-23, according to government data. In the last fiscal, foreign direct investment (FDI) from the UAE to India jumped over three-fold to USD 3.35 billion from USD 1.03 billion in 2021-22, the data of the Department for Promotion of Industry and Internal Trade (DPIIT) showed. The UAE was the fourth largest investor in India in 2022-23 compared to the seventh in 2021-22. Singapore was the largest investor in India with USD 17.2 billion investment in FY23, followed by Mauritius (USD 6.1 billion) and the US (USD 6 billion). "The rapidly strengthening of bilateral ties and investment cooperation between India and United Arab Emirates (UAE) can be chiefly attributed to the strong bilateral relations between India and UAE, growth in investment commitments from UAE, and the policy reforms to further ease of doing ..

Markets regulator mulls prohibiting differential treatment to AIF investors

Markets regulator Sebi on Wednesday proposed that AIF (alternative investment fund) investors should not be given any differential treatment, which affects the economic rights of other investors. In addition, the regulator is looking to provide clarity on the pro-rata rights of investors in an AIF scheme. AIF is a privately pooled investment vehicle, which collects funds from investors, for investing under a defined investment policy for the benefit of its investors. In its consultation paper, Sebi suggested that no differential rights should be provided to investors of the AIF/scheme, which would affect the economic rights of other investors. However, this should not apply in case of differential rights provided on terms with respect to the hurdle rate of return, performance-linked fee/additional return and management fee. With respect to the pro-rata rights of investors, the regulator recommended that the rights of each investor should be maintained at pro-rata to their commitmen

Bourses push Sebi to allow longer F&O hours amid Gift Nifty launch

Move comes amid threat that global investors would shift trading to Gift City to avail tax benefits

NSE warns investors against individuals running 'dabba trading' activities

The National Stock Exchange (NSE) on Tuesday cautioned investors against two persons running illegal dabba trading with guaranteed returns to investors. Dabba trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found that Suresh Jani and Vishnu Darak were providing dabba or illegal trading platforms with assured returns. In addition, the bourse noted that Darak was offering to handle the trading accounts of investors by asking investors to share their user ID and password. The bourse said that these persons are not registered either as a member or authorised persons of any registered member of the NSE. Also, the bourse said that a police complaint has already been filed in this regard. Cautioning investors, NSE asked them not to subscribe to any such scheme or product offered by any person providing illegal dabba trading activity in the

NSE warns investors against entities running dabba trading activities

The National Stock Exchange (NSE) on Friday cautioned investors against four persons running illegal dabba trading with guaranteed returns to investors. Dabba trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found that Jitu Bhai Marwadi, Sanjay Chaudhari, Sanjiv Raj, and Arav Waghmare were providing dabba or illegal trading platforms with assured returns. In addition, the bourse noted that Waghmare was offering to handle the trading accounts of investors by asking investors to share their user ID and password. The exchange said that these persons are not registered either as a member or authorised persons of any registered member of the NSE. Also, the exchange said that a police complaint has already been filed in this regard. Cautioning investors, NSE asked them not to subscribe to any such scheme or product offered by any person ..

I-T dept to notify investor for taxing foreign investments in unlisted firm

The Income Tax Department will soon notify rules specifying the class of investors and norm of valuation for implementation of the Budget provision of taxing foreign investment in unlisted companies. The modified valuation rules would provide for ascertaining the fair market value (FMV) of shares of unlisted companies to levy tax on non-resident investments, an official said. The Finance Act, 2023, has amended Section 56 (2)(viib) of the I-T Act, thereby bringing overseas investment in unlisted closely held companies, except DPIIT-recognised startups, under the tax net. The amendments are needed as I-T Act and FEMA provide different methodologies for calculating the FMV of shares of unlisted companies. "Rule 11UA of I-T Rules will be re-prescribed taking into account the concerns expressed by stakeholders to harmonise it with the FEMA regulations," another official said. Rule 11UA deals with the determination of FMV of assets, other than immovable property. Under the existing nor

Credit Suisse shareholders upbraided failures as chairman apologises

Credit Suisse shareholders on Tuesday upbraided the Swiss bank's leaders for years of mismanagement, scandal and obfuscation that sent its stock price into the gutter, while executives apologised and insisted that the only way forward for the once-venerable lender was a government-engineered takeover by rival UBS. A largely polite if at times boisterous, emotional, angry and even humorous mood pervaded at the first in-person shareholder meeting in four years and likely the last in the bank's 167-year history: Credit Suisse is set to be swallowed by its crosstown competitor in the coming months in a deal that was forced through without a shareholder vote. Despite speech after speech airing concerns ranging from Switzerland's role in global finance to environmental impact to wiped-out pension savings, shareholders narrowly approved a compensation plan for last year that will pay out millions to executives and board members. Investors also reelected board members who will shepherd th

Startup founders find it difficult to raise funds, investors step back

Only four startups in India's fintech sector received unicorn status in 2022, far lower compared to 13 new Unicorns in 2021

KFintech buys 25.6% stake in account aggregator MoneyOne's parent

Shares of KFintech closed 0.95 per cent higher on Friday

Investors excited about investing in Madhya Pradesh, says CM Chouhan

Chief Minister Shivraj Singh Chouhan on Thursday said that the investors are excited and keen about investing in Madhya Pradesh

We Founder Circle became India's largest angel investor network in 2022

The platform became one of the fastest-growing angel network communities and has already facilitated funds worth over Rs 100 crore across 53 startups with 71 deals, it said in a statement

Top IPOs to watch out for in 2023

.