Pankaj Rungta

*News Headlines from Business News Agencies:* *Business Standard* 📝 Oil buyers, producers dialogue needed for market stability: Hardeep Puri 📝 India's semiconductor design sector booms despite Q2 hiring dip: Report 📝 Taj Gvk Hotels Q3 PAT jumps 39% YoY to Rs 17 crore 📝 SAT Televenture to acquire Tikona Infinet for Rs 669 cr in cash, stock deal 📝 Sebi allows MFs to invest in foreign funds with Indian securities exposure 📝 Kotak Alternate Asset Managers to raise Rs 1,600 cr via healthcare PE fund 📝 Coal Minister urges CIL to boost production and reduce import reliance 📝 TechEagle launches eight drone hubs with healthcare partners across India 📝 Fitch affirms IIFL Finance's rating after RBI lifts ban on gold-loan biz 📝 October weather did not favour Ukraine's winter crops: Scientists 📝 Exide Industries Q2 result: PAT falls 13.66% to Rs 233.4 cr on higher costs 📝 UAE opens its annual oil-and-gas summit, pledges to increase output *Economic Times* 📝 CIL should prioritise augmenting coal production, supplies to reduce import: Minister 📝 Aptus has appointed Atul Jain as Managing Director and Chief Executive 📝 China's Haier Group plans JV with JSW Group envisaging Rs 1K cr investment 📝 BFSI office leasing continues to surge as digital growth points to new record in 2024 📝 India to emerge as a Global South leader in AI global governance: Abhishek Singh 📝 India re-elected as President of International Solar Alliance till 2026 📝 Bajaj auto domestic 2-wheelers sales dropped 8 pc in Oct (YoY), exports surge 22 pc 📝 Ashok Leyland total sales fell 9% to 15,310 units in Oct 📝 Bangladesh fast tracks payment to Adani Power after supply cut 📝 Welspun Corp gets Rs 1,300 cr pipe supply order in US 📝 India to revamp power demand forecasting for better planning 📝 Crystal Crop acquires I&B Seeds to expand vegetable, flower seed business *Mint* 📝 RBI likely selling dollars to support rupee amid equity outflows: Report 📝 IRFC Q2 Results: Net profit rises 4% YoY to ₹1,613 crore, revenue up 2% 📝 Indian rupee touches all-time low due to equity outflows from domestic market 📝 Lulu Retail Holdings expects to raise $1.43 billion from its Abu Dhabi IPO 📝 DLF’s New ‘Ultra-Luxury’ Project to Have the Costliest Apartments in India 📝 Reliance Jio IPO may hit Indian market in 2025: Report 📝 NBFCs brace for slower growth as asset stress, fund costs pinch 📝 Skillmatics likely to go for India listing in 3 years: CEO Dhvanil Sheth 📝 SBI Mutual Fund average AUM surges to record ₹11 lakh crore in Q2 📝 Bosch to cut over 7,000 jobs as it lowers growth forecast for 2024 📝 InCred plans insurance, mutual fund arms as it seeks to diversify offerings

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Today's Headlines from : *Economic Times* 📝 3,638 FDI proposals cleared in sensitive sectors since 2019 📝 NARCL ups offer for Jaiprakash Associates debt to Rs 12,000 crore 📝 Festivals take e-toll collections to a record ₹6,000 crore in October 📝 Railways switches to fast track for Kavach rollout 📝 India tops global diabetes list with 212 million cases in 2022: Lancet Study 📝 Nokia to roll out 3,300 new 4G sites by March for Vi expansion 📝 Morgan Stanley, 2 others pick 6.8 pc stake in PNB Housing Fin for Rs 1,664 crore 📝 Nalco Q2 Results: Profit rises multi-fold to Rs 1,046 crore; Rs 4 per share dividend announced 📝 NBCC Q2 Results: Profit jumps 53% to Rs 125.13 crore 📝 Kalpataru Projects International bags orders worth Rs 2,273 crore 📝 Ecommerce AI startup BiteSpeed raised USD 3.5 million 📝 SaaS startup Zeplyn raises $3 million from Leo Capital, others 📝 Space startup Firefly valued at over $2 billion in latest funding round *Business Standard* 📝 Brigade Enterprises Q2FY25 results: Reports 46% increase in sales value 📝 Marriott International, Samhi Hotels ink pact to open 3 properties in India 📝 India's Adani Group to invest $10 billion in US energy following Trump win 📝 Dilip Buildcon Q2 results: Net profit rises threefold to Rs 235 crore 📝 ONGC to soon open 5 wells in KG basin to boost gas, crude output in H2FY25 📝 NCLAT directs IL&FS to complete resolution of remaining firms by March 31 📝 ICAI to knock on MCA door against proposed audit standard revision 📝 India's outward FDI rises to $3.7 billion in October 2024: RBI data 📝 Mkt regulator Sebi mulls action for lapses in Artificial intelligence usage 📝 Festive season stabilises PV sales, 2Ws jump 14%; over 393K vehicles sold *Financial Express* 📝 Economists revise FY25 CPI inflation estimates to 4.7-5 per cent 📝 IN-SPACe taps DoT to cut spectrum price for Spacetech startups 📝 Eicher Motors Q2 profit rises 8 per cent to Rs 1,100 crore 📝 Power ministry readies interest subvention scheme for MSMEs 📝 Karnataka to organise venture capital connect with $17 billion investment potential 📝 IPO-bound NTPC Green plans to invest Rs 1 lakh crore by FY27 📝 Indebtedness of states expected to remain rangebound at 31-32% this fiscal, says CRISIL *Mint* 📝 US October inflation rises 2.6% YoY in first annual acceleration since March 📝 UN to come up with solutions to support countries cope with extreme heat 📝 BII, Norfund, IndiGrid form $300 million business for battery storage 📝 AstraZeneca Q2 net profit declines 10%, revenue up 31% 📝 Torrent Power Q2 Results: Net profit falls 8.6% YoY to ₹496 crore 📝 RBI retains SBI, HDFC, ICICI as India's too-big-to-fail banks 📝 Prosus offers to invest $100 million in Mintifi Finserve at unicorn valuation

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The Indian PE-VC ecosystem exhibited resilience amidst global challenges in 2023. Our report with Bain & Company dives into the key trends: ▪ Deal activity normalized: Overall deal value returned to pre-pandemic levels (~$39 billion), reflecting global caution due to rising interest rates etc. ▪ PE vs. VC: VC investments saw a sharper decline (~60%) compared to PE (~20%). Investors prioritized existing portfolios and traditional sectors. ▪ Traditional sectors shine: Healthcare (record high of ~$5.5 billion) and Advanced Manufacturing (20% annual growth) attracted strong investor interest. ▪ EV & Packaging boom: Advanced Manufacturing saw significant activity in EVs (multiple $100M+ deals) and export-oriented packaging. ▪ SaaS & New-age tech correction: These sectors witnessed a decline due to high valuations and focus on business model viability. ▪ Exit bonanza: Exit value soared by 15% (~$29 billion) with public market sales (block trades) leading the charge. ▪ India's rising star: India's share of Asia-Pacific PE-VC investments grew to 20% (from 15% in 2018), attracting domestic and global capital. To access the full report, click here - https://lnkd.in/gMmmBfrq Media Story - https://lnkd.in/gUmb4u5n #IVCA #BainAndCompany #MaximumIndia #IndiaPrivateEquityReport Rajat Tandon Sumeet Shetty Aakriti Bamniyal Paromita Sinha Jahnavi Mallick Shreya Kumar

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Today's Headlines from : *Economic Times* 📝 DPIIT gives nod to Hinduja Group firm IIHL for acquisition of Reliance Capital 📝 NSE Investments to offload 20% stake in Protean eGov via OFS, sets floor price at Rs 1,550/share 📝 Ahead of IPO, Enviro Infra Engineers mobilises Rs 195 cr from anchor investors 📝 Crizac, Belrise Industries file draft prospectus papers to raise funds through IPO 📝 RBI, Maldives Monetary Authority sign pact to promote use of local currencies 📝 GNFC, INEOS UK to form 50:50 JV to build major acetic acid plant in India 📝 BEML gets Rs 246.78 crore truck supply order from Central Coalfields 📝 SaaS firm Taqtics raises $1.2 million seed fund from Sprout Venture Partners, Capital-A, others 📝Insurtech startup Zopper bags $25 million in round led by Elevation Capital, Dharana Capital 📝 CredFlow secures $3.7 million in funding from Inflexor Ventures, others 📝 OneCell Diagnostics raises $16 million in round led by Celesta Capital, others *Business Standard* 📝 NGEL to invest Rs 1.87 trillion in Andhra for renewable energy projects 📝 Hyundai Motor targets 100% renewable energy by 2025, to set up two TN units 📝 Microfinance lending jumps 10% to Rs 40,840 crore in Uttar Pradesh 📝 CEA advises India Inc not to seek protective cover of weak currency 📝 Ficci seeks PLI 2.0, tariff review to boost electric vehicle growth 📝 Karnataka Milk Federation launches Nandini products in Delhi-NCR market 📝 ECBs net inflows rise to $7.9 bn in H1FY25 from $6.8 bn in H1FY24: RBI data 📝 Rupee hits new low of 84.50/$ amid equity sell-off, geopolitical tension 📝 Zepto raises $350 million at flat $5 billion valuation ahead of IPO 📝 Govt lists 5 new, 13 pending Bills for winter session starting Monday 📝 Refined petroleum product export rose 12% in October, shows PPAC data 📝 Indian carriers projected to add 600 planes in next 5 yrs: Aviation Secy 📝 Tariff impact: Reliance Jio loses 7.96 mn users in Sep, shows Trai data *Financial Express* 📝 Tata Power, ADB sign $4.25-billion pact for project financing 📝 After Shipway, Unicommerce in talks for more acquisitions 📝 PharmEasy halves loss to Rs 2,533 crore in FY24, revenue shrinks 15 per cent 📝 SEBI to probe disclosure violation against Adani 📝 Bikaji Foods announces extension of investment timeline for its US subsidiary *Mint* 📝 Medical supply firm Medline aims to raise over $5 billion in 2025 IPO, sources say 📝 Egypt Begins First IPO Since 2021 in IMF-Backed Sale of Assets 📝 Belrise Industries files draft papers with SEBI to raise ₹2,150 crore via IPO 📝 Vedanta Resources postpones planned dollar bond offering: Report 📝 Elon Musk’s startup xAI valued at $50 billion in new funding round 📝 Govt may include e-commerce data, expand coverage to calculate retail inflation

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Holy Grail of Asset Management Companies are returns and governance. Any miss on either of them creates an outflow of capital.. which can break the AMC... Case in point in India... Quant MF and Franklin Templeton MF... Very recently papers reported that a big PMS firm in India is facing redemption pressure more for returns issue... In US, Franklin Templeton reported outflows of $37 Billion in last quarter due to governance lapse on derivative trades #sec #amc #markets

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The Colossus episode on Bajaj Finserv where Matthew Reustle, CFA interviews Marcellus Investment Managers's Saurabh Mukherjea, FRSA is an exceptional one. Worth a listen / read even if you are not in fintech, if only to understand what an incredibly tight biz model they have built. The growth numbers are mindblowing, resulting in a $50b mcap co. Saurabh: "over the last 16 years, this company has compounded share prices 1,000x. That's underpinned by 30% loan book CAGR, 50% PAT CAGR. So 50% PAT CAGR over 16 years, I think that's roughly 650x PAT compounding over 16 years." Whoa! They say there are 4 elements to a lending business - cost of capital, cost of acquiring customer, quality of underwriting, and ability to collect. You need to great at at least two of these and ok at the others (cant be bad) to run a profitable lending biz. Bajaj Finance is that rare lender, who is great at all four elements, from what I understand from the podcast. Some fascinating data points in the podcast. 1/ Like this one on the lending market, and how Bajaj is about a sixth of the nonbank lending market. Saurabh: "Banks lend around $2 trillion in India. Nonbank sector lends around $250 billion. Bajaj Finance's loan book is $40 billion." 2/ The explainer on their hero product, the zero-interest EMI was illuminating. 3/ I heard once that Bajaj Finance is Salesforce's 2nd biggest account globally. I couldnt believe it then, but now after reading / hearing that Salesforce had to create a separate dbase for them (they have 1000 datapoints on 200m Indians), I can understand. 4/ The 65-hour workweek and the long hours is interesting. It is not usual for an Indian co to have a 7am start to the workday, and for the long hours to be so explicitly coded. All in all, a terrific primer on a world-class business that has got built out of India. Saurabh Mukherjea has an exceptional handle on the business. Loved the colour he has on the biz such as how each unit does their own capital allocation, and how HQs ups or downs their quota depending on their performance. Link to the piece (incl transcript): https://lnkd.in/ge2gBjiS

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Was nice to share some thoughts with Akshata Gorde and Financial Express (India) on SEBIs new proposed fixed price mechanism as an alternative to reverse book building for voluntary delisting schemes. Read on to know more: https://lnkd.in/g25YCj_D #SEBI #delisting #law

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Motown Update: The Uttar Pradesh government has announced a full waiver of Road Tax and an exemption from Registration Tax for hybrid vehicles. Is it time to consider the high valuations of Maruti in a new light? Twitter - https://lnkd.in/dKvJZGk AUM Capital Market Private Limited #ET #ETNOW #AUM #AUMCAPITAL #BNSN #asketnow #ShareMarketToday #ShareMarketUpdates #ShareMarketLive #NiftyToday #niftybanktoday

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Today's Headlines from: *Economic Times* 📝 Jio steps up 5G monetisation plans ahead of possible listing 📝 Advik acquires German braking system manufacturer Powersports MTG 📝 ONGC ropes in BP to increase Mumbai high field output 📝 Nirma Group company outbids Ambuja in insolvency sale of Vadraj Cement 📝 Zoplar Secures $3.4 million in Series A funding led by Blume Ventures 📝 Neuroscience startup BrainSightAI raises $5 million from IAN Alpha Fund, others 📝 AI-focused company Infinite Reality valued at $12.25 billion after $3 billion fundraise 📝 Zerodha’s Rainmatter invested Rs 275 crore in 2024 across climate, health startups: Nithin Kamath *Business Standard* 📝 Swiggy launches new standalone app Snacc for 15-minute food delivery 📝 Foxconn, Dixon ask govt to pay pending production-linked subsidies 📝 RBI lifts restrictions imposed on Asirvad Microfinance and DMI Finance 📝 Brigade Group's mixed-use project in Hyd targets Rs 3,300 cr in home sales 📝 WeWork India strengthens footprint in Bengaluru, Pune, adds over 175k sq ft 📝 Govt slashes Nov gold import data by $5 billion in commodity revision 📝 India Inc files ECB plans worth $ 2.83 bn in November, shows RBI data 📝 Non-life insurers report dip in Dec premiums under Irdai's revised norms 📝 Lupin gets clearance from USFDA for its Pithampur manufacturing facility 📝 Rupee falls 13 paise to settle at new record low of 85.87 against dollar 📝 Sebi approves IPOs of Regreen-Excel, Dr Agarwal's, Casagrand, Highway Infra 📝 NSE plans expansion of its colocation facility, to add 2,000 new racks 📝 Demat tally surges to 185 million in 2024 with 46 million new additions *Financial Express* 📝 Infinity Fincorp loan book tops Rs 1K crore 📝 Wilmar readies blueprint post-Adani exit 📝 Domestic steel demand to outpace other economies with 8-9% growth in 2025 📝 Q3 update: L&T’s Heavy Engineering arm bags order in range of Rs 1000-2500 crore in India and abroad *Mint* 📝 US weekly jobless claims at 11-month low amid labor market stability 📝 ISRO postpones SpaDeX satellite docking due to unexpected drift 📝 PM Modi unveils projects worth over ₹2 Lakh Crore in Andhra Pradesh 📝 AMD invests in drug-discovery company Absci in push to sell AI chips 📝 China expands consumer subsidies to boost spending as tariff risk looms 📝 Complete Circle's wealth management arm raises new funding from Mankind Pharma 📝 Blackstone’s Infrastructure Fund for Individuals Raises More Than $1 Billion

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Thanks so much Sakshi Bajaj and NDTV for having me and Mitali Nikore over to this interview pre MPC meeting and the ensuing CRR cut to aid liquidity in the system. Some Salient Points: ✨ Companies are willing to invest capital and set up factories, ports, power stations and so on only when the flow of credit has been healthy and at a reasonable price. A tight monetary policy and the struggle to get cheap funds through deposits has kept bank lending rates elevated in the past year, making it a challenge for firms to borrow. ✨ Consumption Growth and Consumer sentiment remains muted (if one were to follow macro consumption indicators such as festive spending, home loan growth, two wheelers and four wheelers offtake) and high interest rate regime shall just not make the cut in spurring urban demand (rural demand is showing greenshoots with better agriculture outputs) and this is reflecting in the poor Q2 earnings numbers in the listed space. ✨ Credit offtake, lower interest rate regime and an adequate liquidity is critically important if one were to achieve GDP growth through Infrastructure Spending! India needs to spend $2.2trillion on infrastructure to achieve a $7 trillion economy by 2030. Various government officials have indicated time and again that infrastructure spending is the only way for a high economic growth rate to be sustained. Hence, it's very important for the government to really spend on public capex on roads ports power and railways to kickstart the virtuous cycle of investment and GDP growth and private capex to follow suit. ✨ Monetary policy has its limitations to controlling food inflation in anycase. Also, the November footprint on inflation has come down vis a vis the Oct numbers on a y-o-y basis with CPI coming down to 5.5 from a 6.2 in Oct and food inflation to 9% from a 10.9% in October y-o-y! This should ideally set the stage for a February rate cut. (m-o-m numbers on inflation are down as well) ✨ With Trump coming to power, India too faces headwinds from potential Trade and Tariff wars. Combined with geopolitical tensions and now Syria, India will benefit by focusing on its own domestic capabilities and go all guns blazing to spur domestic manufacturing, services and tertiary sectors focussing on job creation, consumption and a virtuous cycle of investment and growth. This can only be achieved in a low interest rate regime. #businesseconomics #mpc #economicanalysis #economyandgrowth #indiangrowth #inflation #infrastructure #consumption #consumersentiments #manufacturing #agriculture #services Disclaimer: this is a general discussion and to be interpreted for education purposes only. This is not an investment advice. Please connect with a registered investment advisor for any further questions and for investment advice if any.

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In the latest episode of Young Turks, Shereen Bhan discusses the key expectations of startups and VCs with Srini Sriniwasan, MD, Kotak Alternate Asset Managers Limited, and Vice Chairperson, Indian Venture and Alternate Capital Association (IVCA); Vikram Gupta, Founder & Managing Partner, IvyCap Ventures Advisors Private Limited, and Executive Committee member, Indian Venture and Alternate Capital Association (IVCA); and Alok Mittal, Co-founder & CEO, Indifi Technologies Private Limited. Tune in at 5:30 PM for a must-watch discussion on what the startup and VC ecosystem expects from #Budget2024! In June 2024, the Indian Venture and Alternate Capital Association (IVCA), representing India’s alternate capital ecosystem, met with Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman for a consultation on the upcoming General Budget 2024–25. During the meeting, IVCA proposed measures to mainstream AIF investments and facilitate the mobilisation of domestic capital pools. Indian Venture and Alternate Capital Association (IVCA) also requested that the government activate the blended finance announcements from the 2022 Budget through a Fund of Funds model, besides several other recommendations to improve ease of business for AIFs. For more details: https://lnkd.in/di7iSy3c #Startups #VCs #BudgetExpectations #CNBCTV18News #IndianVCA

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Anticipating the Future: Preparing for Budget Impact on Venture Capital 🌟 As we approach the upcoming budget, Vikram Gupta - Founder & Managing Partner IvyCap Ventures Advisors Private Limited Will be engaging in insightful discussions on how potential fiscal policies could shape the investment landscape for startups and innovation. #prebudget #venturecapital #budgetimplication #ivca

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It is often said that Impact investing does not deliver financial returns. At C4D Partners, we are proving this wrong. Our Fund 1 has already achieved a 51% DPI on the India portfolio within 6 years of fund life, delivering a robust IRR. We’re not just about investing for impact, but also prioritizing strong, sustainable financial returns. We carefully select companies that are cash flow positive and demonstrate a clear path to profitability within a couple of years of our investment. This has enabled us to keep our mortality rate under 20%, lower than the industry average. Our approach - We invest in early-growth stage companies that are well-governed and on a clear path to positive cash flows, and be there for the long haul. Our approach comprises not just capital infusion, but active involvement in fostering a culture of transparency, operational excellence and sustainable value creation. We position our investments for sustainability and success in an ever-evolving market. If you’re a startup or investor interested in partnering with us, or just curious to learn more, let’s connect. Mirakle Couriers, Ecotasar, LabourNet, Saahas Zero Waste, Aarohan , 1BRIDGE, Ananya Finance, Freyr Energy Services Pvt Ltd #VentureCapital #Startups #SMEs #GrowthCapital #InvestmentStrategy #C4DPartners

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https://lnkd.in/gbsWykcF Indian family offices told me that Reliance Retail IPO will be a "super huge success" creating exceptional value for shareholders ! ( they also told that many billionaires are expected to queue outside Antilia for appointment with Isha Ambani !  I completely support their views and add my prediction that "2027 " will be Platinum,  Diamond year for Reliance Retail It's valuation can DEFINITELY jump by 60% to 80% in 2027( January, June and July will be Best months in 2027)  PS: If for any reason IPO is not done in 2025, then ,2027 should be the "blockbuster year" to plan it !  Qatar Investment Authority Zulfiquar Ghadiyali #relianceindustries  #swfs #institutionalinvestors  #familyoffices  #investors  #IndiasGrowth  #pmoindia  #pmoffice  #pefunds  #stocks  #IPO  #stockstowatch  #billionaires 

#India has so many possibilities to earn because it is a growing economy. While everytime one may be not lucky to 50%+ returns that #PrashantJain & #3P has given this time but surely it will be better returns than what other country markets give. And yet there are several global investors around the world who still doubt India & #Indiancapitalmarkets

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