Under the new plan, IIHL is looking to set up a banking, financial services, and insurance portfolio worth $50 billion (Rs 4.2 lakh crore) by 2030. This is including its investment in IndusInd Bank, apart from the new businesses under Reliance Capital, which IIHL won in insolvency proceedings.
Public non-financial corporations or public sector companies were the worst performers as their share in investment declined to 9.4%, the lowest level in 12 years. The share of households in investment also declined to 40.5% in FY23 from 41.4% in FY22.
Premji Invest in talks to acquire majority stake in Nainital Bank at around Rs 800 crore. Public sector lender Bank of Baroda, which owns around 98% of Nainital Bank, is expected to divest its entire shareholding
ADIA and KKR invest $1.5 billion in RRVL's warehousing assets, managed by RPPMSL. RRVL transfers assets to RLWH. Financial details include debt, NCDs, and equity. RRVL's growth supported by investments and strategic partnerships.
Jindal Stainless unveiled a Rs 5,400 crore investment plan focusing on expanding its melting and downstream capacities. This includes a joint venture in Indonesia for a stainless steel melt shop, expected to increase melting capacity by 40%. Additionally, investments in Odisha and a stake acquisition in Chromeni Steels aim to enhance operations.
The IMF recently revised India’s growth forecast upward to 6.8% from 6.5% projected in its January forecast. The fund also revised India’s FY24 growth outlook upward to 7.8%, higher than the government’s projection of 7.6%. “India and the Philippines have been the source of repeated positive growth surprises, supported by resilient domestic demand,” IMF said in its report.
The centres will be developed by Leap Gymnastics, a new initiative launched by the JSW Group, which supports 6,000 athletes across disciplines through its sports arm, JSW Sports. "As a group, we want to see gymnastics grow both on a participation and recreational level as well as on a competitive level," said Tanvi Jindal, founder of Leap Gymnastics. "We want to open 25 facilities over the next five years."
This round would take homegrown eyewear company Lenskart's valuation to over three times that of Warby Parker, a New York-based online retailer for spectacles and contact lens. Warby Parker listed on the NYSE late in 2022 and has a market capitalisation of around $1.55 billion.
As per a 2020 amendment, "an entity of a country, sharing land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the government route".
NIIF is gearing up to secure approximately $1 billion for its second Private Markets Fund (PMF), according to people familiar with the matter. PMF-II will support private equity and venture capital funds focused on India.
Raghavendra Rao, a former deputy managing director at the bank, Narayanan Sadanandan, a former CEO of SBI Pension Funds, and Anoop Krishna, former chief general manager of the corporate group at SBI, will join the private credit fund.
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