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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102631) | |
22101. PAG to acquire 51% in wealth management, investment banking biz of Edelweiss for Rs 2,244 cr
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
The Economic Times
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- PAG has agreed to buy a controlling stake in the wealth management and capital markets business of Edelweiss Financial Services that also includes investment banking, its first large deal in the country after setting up local base in 2019. PAG, among the largest Asia-focussed alternative asset management firm, on Thursday said in an official statement that it is paying Rs 2,244 crore to buy a 51% stake in these businesses that will be carved out of Edelweiss subsidiary, called Edelweiss Global Investment Advisors.
- In Edelweiss, both these businesses come under the omnibus umbrella of Edelweiss Global Wealth Management Limited (EGWML). The company will issue compulsorily convertible debentures (CCDs) to PAG worth Rs 2,204 crore. There will also be a primary issuance of securities by Edelweiss’ securities business of around Rs 140 crore to EGWML and PAG along with the other existing shareholders
- PAG is looking to invest upwards of $1 billion in India over the next three years to buy out targets, provide growth equity and even structured finance with an eye to fix the broken balance sheets at India Inc, its CEO and Chairman Weijian Shan told ET in an earlier interview.
22102. MF investment in REITs jumps three-fold to Rs 735 crore in H1 2020
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
English
India
The Economic Times
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- Emerging investment instrument REIT seems to be finally catching investors' fancy, with mutual funds investing a whopping Rs 735 crore in such units in the first six months of 2020, nearly three-fold jump from the year-ago period. However, mutual funds' investment in infrastructure investment trusts (InvITs) dropped by 8 per cent to Rs 4,968 crore in the period under review, data with the Securities and Exchange Board of India (Sebi) showed.
- Investment by fund houses in REITs jumped from a mere Rs 7 crore in January 2019 to Rs 71 crore in January this year and further increased to Rs 402 crore in June 2020. Fund managers infused Rs 735 crore in real estate investment trusts (REITs) in January-June 2020 compared to Rs 249 crore in the first six months of last year. The investment in InvITs rose from Rs 611 crore in January 2019 to Rs 908 crore in the same month this year and thereafter to Rs 968 crore in June 2020.
- As compared to last year, fund managers' investment in InvITs declined to Rs 4,968 crore in January-June 2020 from Rs 5,400 crore in the first six months of 2019. Ever since Sebi introduced InvITs, markets witnessed the listing of two public InvITs -- IRB InvIT Fund and India Grid Trust.
22103. Mauritius-based PE firm invests ₹250 crore in Shriji Polymers
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Mint
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- Malaysia-based private equity firm Creador, managing assets worth $1.5 billion, has invested ₹250 crore in Indian pharmaceutical packaging firm Shriji Polymers (India) Ltd.
- Shriji’s product portfolio includes high-density poly ethylene bottles, polypropylene caps--both continuous thread and child resistant--and other speciality plastic products such as derma bottles, tablet applicators, dosing cards and self-administered metered dosing devices.
- The company's manufacturing facilities are located in key markets across India, the USA, China The deal signifies the interest of private equity players in this pharma allied industry of packaging, given India’s cost advantage and policy makers’ efforts to boost domestic manufacturing.
- “We will continue to make significant investments in India supported by the recent government initiatives of 'Make in India' catering to domestic and exports," Anand Bangur, founder and managing director of Shriji said.
22104. Venture Catalysts raises Rs 100 cr for investing in over 100 startups
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Business Standard
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- Angel investor Venture Catalysts (VC) said it has raised Rs 100 crore for a new fund which will invest in over 100 Indian startups. The '9unicorns Accelerator Fund' of VC is built along the lines of Silicon Valley's accelerator fund Y Combinator's strategy which has over 2,000 investments.
- This is the first close of Rs 100 crore or USD 14 million for the fund, which will focus on identifying startups early and would prefer to be the first external investor in a company's journey, a company statement said.
- VC's founding team members Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain are the founders for the fund, it said.
22105. [Funding Alert] Solar SaaS startup SenseHawk raises $5.1M in Series A round led by Alpha Wave Incubation
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Your Story
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- SenseHawk, a SaaS startup that helps customers develop, build, and operate solar and other infrastructure sites with insights, has raised $5.1 million in Series A funding.
- The investment round was led by Alpha Wave Incubation (AWI), a $300 million venture fund managed by Falcon Edge Capital, a leading global alternative asset manager, and backed by ADQ. Existing investor SAIF Partners also participated with a follow-on investment.
- The funding will be used by SenseHawk for product development and to expand teams in North America, Middle East, North Africa.
22106. Corrit Electric Launches First Production Facility In Noida
Make in India / Atmanirbhar
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Make in India- Electric Vehicles/Automobile Sector
English
Uttar Pradesh
Financial Express
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- Electric mobility brand, Corrit Electric, announced the launch of its first production facility for The Hover Scooter in Greater Noida.
- Established in 2021, the brand unveiled its first indigenously produced fat tire electric bike – The Hover Scooter, in October last year. Ramping up their offering, the newly launched facility is equipped to manufacture one Hover Scooter every 45 mins.
- The current facility is over 15,000 sq. ft and can produce over 1000 units per month. 250 kg load-carrying capacity.With a range of over 100kms and a charging time of 200 minute
22107. GAIL reports highest quarterly net profit on gas price jump
Bharat Economic Growth
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Bharat Economic Growth
English
India
Financial Express
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- State-owned GAIL (India) Ltd reported its higher quarterly net profit in three months to December 2021 as a rise in natural gas prices helped improve its margins.
- Net profit of Rs 3,287.99 crore, or Rs 7.40 per share, in October-December 2021 was more than double as compared to Rs 1,487.33 crore, or Rs 3.30 a share, in the same period a year back, the company said in a statement.
- Profitability from its LPG and liquid hydrocarbon business also jumped 200 per cent.
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22108. Ather to set up 1,000 EV charging stations in state
Make in India / Atmanirbhar
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Make in India- Electric Vehicles/Automobile Sector
English
Karnataka
Hindustan Times
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- The Karnataka government signed a memorandum of understanding (MoU) with electric vehicle (EV) maker Ather Energy to set up 1,000 fast charging stations across the country as the state looks to increase its green mobility footprint.
- Ola, the mobility service provider, also decided to set up their ₹2,400 crore two-wheeler manufacturing unit in Tamil Nadu’s Hosur.
- two of Bengaluru’s best known EV makers have set up shop in neighbouring Tamil Nadu despite the bulk of their operations being in Karnataka.
22109. One of India’s most powerful supercomputers installed at IISc
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Innovations in Bharat
English
India
Hindustan Times
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- Param Pravega, a supercomputer that is touted to be one of the most powerful in the country, has been installed at the Indian Institute of Science (IISc) in Bengaluru under the National Supercomputing Mission (NSM),
- According to IISc, Param Pravega has a total supercomputing capacity of 3.3 petaflops (1 petaflop equals a quadrillion or 1,015 operations per second).It has been designed by the Centre for Development of Advanced Computing (C-DAC)
- A majority of the components used to build this system have been manufactured and assembled within the country, along with an indigenous software stack developed by C-DAC in line with the Make in India initiative
22110. Bosch to invest over Rs 1,000 cr in localisation of advanced auto tech in 5 years
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Zee News
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- Technology and services supplier Bosch, which has completed 100 years of its presence in the Indian market, has said it will invest more than Rs 1,000 crore in the localisation of advanced automotive technologies over the next five years.
- Bosch opened its first sales agency in Kolkata in 1922. It currently has 18 manufacturing sites and seven development and application centres, employing close to 31,500 associates.
- Bosch India will invest more than Rs 1,000 crore in the localisation of advanced automotive technologies, and in this way support Atmanirbhar Bharat, the vision of making India self-reliant,