CAPITAL INVESTMENT INDIA
Work starts on $2-billion Tata Capital IPO
The conglomerate recently gave Kotak Investment Banking officials the go-ahead to commence the process after a meeting, they said. It plans to appoint additional bankers by January, they added.
$3.1 billion Vishal windfall for PE partners in IPO : Biggest capital gains for a PE in India
Return on 6-year-old investment is over 50%higher than 2nd-most profitable deal in India, little short of Tiger Global's blockbuster Flipkart bet
Asian Development Bank to provide $500 million loan to support sustainable infra projects in India
The Government of India and ADB have signed a USD 500 million loan to support green infrastructure projects in alignment with India's climate goals. The loan will be provided to India Infrastructure Finance Company Ltd. for projects in connectivity, energy transition, urban development, education, and health care sectors.
Wealthtech platform Univest raises $10 million in Series A round from Bertelsmann India
According to Pranit Arora, cofounder and CEO of Univest, the funds will help the company to scale its research-first, full-stack brokerage offering for stock market investors. Earlier, the advisory-first brokerage platform had raised $3 million from investors, including Trinity Media Group, senior executives from Reliance Industries, and angel investors Aakash Anand, CEO of Bella Vita Organic and Deep Bajaj of Sirona.
VCs bullish on AI startups in India despite a fall in funding
Indian AI startups saw a funding dip in 2024, but deal volume increased, with a focus on application-layer ventures. Investors are optimistic about this trend, particularly for applications targeting the US market, mirroring the enterprise software sector. While foundational models remain a US stronghold, India sees opportunities in infrastructure and applications, despite challenges in talent acquisition and rapidly evolving technology.
Startup exits get buzzier; AI investments in 2025
Happy Monday! Indian risk investors registered bigger exits in 2024 compared to a year before.This and more in today¡¯s ETtech Morning Dispatch.
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IPO fundraising touches a record Rs 1.6 lakh cr in 2024
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
Consumer tech, renewables top themes as M&A activity picks up: Barclays India CEO
Barclays India CEO Pramod Kumar predicts consumer tech, renewables, and healthcare will lead investment banking in 2025. He anticipates a potential earnings slowdown and remains cautious on NBFC lending. The bank sees strong ECM activity and increased M&A in 2025, while acknowledging a missed opportunity in the Indian ECM boom.
Real GDP growth seen lower than RBI estimates in Oct-Mar
Economists predict slower real GDP growth in the second half of FY25, ranging from 6.4% to 6.6%, compared to RBI's 7% projection. High-frequency data reveals mixed indicators for consumption and investment sectors. Weaker exports, consumption spending, and construction activity contribute to the lowered growth forecast, despite increased government and agricultural spending.
Siemens sounds alarm: Capital goods stocks plunge amid capex concerns
Capital goods stocks stumbled on Friday, led by Siemens' 10% drop, after the company reported a lack of significant private capital expenditure growth in India. Despite this, analysts maintain a positive outlook for the sector, driven by government spending and a private capex cycle focused on decarbonization and energy transition.
Accel nears close of new India fund at $650 million
Accel India has secured $650 million for its eighth fund, while its global growth fund has raised $1.35 billion. A portion of this will be invested in pre-IPO rounds of Indian startups, bringing Accel's total India commitments to nearly $3 billion. This move comes as several Accel-backed companies, including Bluestone, are preparing for IPOs.
Top startup and tech stories this week
Welcome to a new edition of ETtech Unwrapped ¨C our weekend newsletter packed with the most important stories this week. Let¡¯s take a look.
Year in Review: VC firms sit on a pile of cash but wary of backing startups
India's VC landscape is experiencing a shift. Despite raising $2.5 billion in 2024, investments remain cautious, totalling $10.9 billion. Executive churn is high, with senior figures leaving established firms. Smaller funds are stepping up early-stage investments as global giants pull back. This cautious approach marks a reset from the 2021 boom, impacting deal flow and investment strategies.
DAM Capital Advisors IPO subscribed nearly 7 times on Day 2. Check GMP, review and other details
DAM Capital Advisors' IPO opened on December 19 and will close on December 23, with allotment expected by December 24 and listing on December 27. The company, a leading Indian investment bank, offers services in equity capital markets, private equity, and broking. It has executed 72 ECM transactions and experienced rapid growth, with a 38.77% CAGR in total income from FY22-FY24.
Top 5 mistakes NRIs must avoid while investing in India
NRIs investing in India should avoid common mistakes like delaying KYC updates, overlooking foreign TIN requirements, focusing solely on tax-free products, falling for unregulated investment schemes, and neglecting estate planning. By addressing these issues, NRIs can optimize their investments and protect their wealth.
Deep-tech startups must explore alternative funding options, says VC report
Indian deep tech startups have seen a 5.3 times increase in average seed check size over the past eight years, fueled by government initiatives and VC confidence. However, alternative funding is crucial to navigate initial challenges. While the sector is nascent, fostering exits is vital for building investor trust and driving future growth.
Investment push may spur GDP growth to 6.6% in FY26: Ind-Ra
India's economy is projected to grow by 6.4% in 2024-25 and 6.6% in 2025-26, fueled by investments. A cyclical slowdown observed in recent quarters is expected to reverse from the third quarter of 2024-25. Growth in 2025-26 will be led by investments outpacing consumption, with services exhibiting the strongest growth.
Indian real estate attracts record USD 8.87 bn institutional investments in 2024: JLL India
Institutional investment in Indian real estate reached a record USD 8.87 billion in 2024, a 51% surge driven by robust housing, office, and warehousing demand. Foreign investors contributed 63% of the total, with residential attracting the largest share (45%), followed by office (28%) and warehousing (23%). This surpasses the previous 2007 peak and reflects India's strong economic position.
Holani Venture Capital Fund surges to record NAV
Holani Venture Capital Fund (HVCF) reports a strong Net Asset Value (NAV) of Rs.157.62 per unit, outperforming benchmark indices. Their diversified portfolio, focused on SMEs and the HVAC sector, drove this success. HVCF plans to expand into new markets with a focus on ESG principles for future growth.
Challenges for 2025: Inflation, geopolitics and global slowdowns; key sectors in focus
India's financial markets soared to new heights in 2024, with Sensex and Nifty hitting record highs. Driven by domestic growth, manufacturing boost, and robust FDI inflows, the economy showcased resilience. While global economic slowdown and geopolitical risks pose challenges, sectors like technology, banking, and renewable energy thrived.
Dharmesh Mehta explains why DAM Capital is going public, says next 5-10 years to see a phenomenal run for India
DAM Capital Advisors plans to go public. The company aims to attract talent and expand into new areas. It sees a bright future for India's economy. DAM Capital wants to partner with a global firm. This will help with cross-border deals. The company is optimistic about its growth prospects. It believes the Indian market offers significant opportunities.
India Inc gets past Rs 3 lakh crore mark in equity fundrace
Those launching public issues this week include DAM Capital Advisors, Ventive Hospitality, Carraro India, Senores Pharmaceuticals, Transrail Lighting, Concord Enviro Systems, Sanathan Textiles and Mamata Machinery. Inventurus Knowledge Solutions closed on Monday and International Gemological Institute will end on Tuesday, adding up to a total of ?14,000 crore being raised this week by 10 companies.
Godavari Biorefineries to invest Rs 130 crore for enhancing ethanol production
Godavari Biorefineries is investing Rs 130 crore in a new 200 KLPD corn/grain-based distillery, boosting its ethanol production. The facility, expected to be operational by March 2026, will provide dual-feedstock capability, enhancing flexibility and resilience against climate disruptions and policy changes. This investment will also help meet the increasing demand of India's ethanol blending program.
Swiggy shares skyrocket 15% to fresh peak after Axis Capital initiates coverage
Swiggy share price: Swiggy's shares rose 15% after Axis Capital initiated coverage with a 'buy' rating and Rs 640 target, citing strong growth prospects in food delivery and Q-com, with a 20% upside.
Senco Gold raises Rs 459 crore via QIP, allots 40.8 lakh shares
Senco Gold Limited raised Rs 459 crore through a Qualified Institutions Placement (QIP), issuing 40.8 lakh equity shares at Rs 1,125 per share. Major investors included funds managed by Tata AIA Life Insurance and ICICI Prudential Life, among others. The funds will support the company's expansion plans, including adding 18-20 stores annually.
Time for India Inc to join the capex party, invest more: Kumar Mangalam Birla
Kumar Mangalam Birla encouraged Indian businesses to boost investment. The government has significantly increased its capital expenditure. Birla's group and other companies have started large capacity expansions. He emphasized the role of businesses in driving economic growth. Birla suggested India could become a global manufacturing and service hub. He also highlighted the importance of innovation and talent for India's development.
Pharma, Capital Goods stocks new darlings of fund houses
??India pharma companies¡¯ progress in complex generics, stable US pricing and steady sales growth in India led to fund houses buying into stocks like Alembic Pharma, Divis Labs, Glenmark, Medplus, Orchid and Sanofi Consumer.
Private sector will continue to deploy capital, boost investments: CEA Nageswaran
India's Chief Economic Adviser, V Anantha Nageswaran, projected confidence in private sector investments driving GDP growth to 35% over the next five years. He reaffirmed the 6.5-7% real economic growth projection for the current fiscal year and emphasized the need to leverage domestic growth drivers amidst a challenging global landscape.
Mintifi secures $180 million from Prosus, others in a mix of primary, secondary capital
Part of the funds raised was used to give a complete exit to Lok Capital, one of the early investors in the Mumbai-based lending platform, and some liquidity to some of its employees. Mintifi which was founded in 2017, counts the likes of Elevation Capital, International Finance Corporation, and Norwest Venture Partners as its major investors.
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