Hero Enterprises Chairman Sunil Kant Munjal today committed an investment of Rs 100 crore in a new fund of social venture capital firm Aavishkaar — Aavishkaar Bharat Fund. The fund is sixth by Aavishkaar and a Sebi-registered category II alternative investment fund (AIF). “At this stage in India’s evolution, it is clear that for the […]
The government finally decided on Wednesday to alter its Fund of Funds (FFS) for startups to ensure better utilization of the provided resources. An initial corpus of Rs 1,000 crore was set up, but the tough rules had made their disbursal difficult. Realizing the difficult situations it created for startups, it is now decided to allow Alternate […]
In 2013, SEBI introduced a new concept of investing in Mutual funds. Aptly named as ‘Direct plans’ it offers an alternative to investment in mutual funds where investors can skip the middlemen and invest directly with the fund house. An investor friendly option, Direct plans enable the investor to earn up to 1.5% more returns […]
CashRich, a Mumbai-based fintech startup, has raised an undisclosed amount in seed funding from three prominent angel investors in the UK. CashRich is a smart mobile investment app for anyone seeking better ways to manage their money. The app is currently in beta phase (pilot-testing) and shall be launched in the coming months. Sougata Basu, […]
Reliance Jio Infocomm Ltd. today raised Rs 2,000 crore through issuance of non-convertible debentures on the BSEs new platform and the proceeds would be utilised for roll out of its digital services business. The issue received bids worth over Rs 3,500 crore. The five-year debentures will bear a coupon of 8.32% per annum. “The proceeds […]
Varun Beverages, franchise for soft drinks maker PepsiCo, today filed preliminary papers with Sebi for an IPO to raise over Rs 1,000 crore. The IPO entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by promoters. The company has filed the draft red herring prospectus […]
The government today approved Rs 10,000 crore Fund of Funds for Startups to support them with an aim to generate employment for 18 lakh persons. “The fund is expected to generate employment for 18 lakh persons on full deployment…A corpus of Rs 10,000 crore could potentially be the nucleus for catalysing Rs 60,000 crore of […]
Financial services firm JM Financial today said it has acquired close to 10 per cent stake in peer-to-peer (P2P) lending startup Faircent. Though the amount has been undisclosed but it’s estimated to be close to Rs 16.5 crore (between USD 2.5 million to 3 million). In a filing to the BSE, the company said its subsidiary […]
Jaipur- Biocon chairman Kiran Mazumdar-Shaw has called for relaxing rules for startups to help them flourish, stating that there are several “hidden regulations” in the government’s new policy. “Even though the policy sounds very good, there are a lot of hidden regulations in that,” she said at a session titled ‘Beyond Jugaad, Making India Work’, […]
Indian firms mopped up over Rs 68,608 crore through the equity market route in 2015. This is 76 percent higher than Rs 39,067 crore raised through the equity market in 2014. Out of the total Rs 68,608 crore raised, fresh capital accounted for only Rs 25,964 crore, with the remaining Rs 42,644 crore coming from […]