CAPITAL TRUST
SpaceX's Falcon 9 grounded after failure dooms batch of Starlink satellites
The U.S. Federal Aviation Administration (FAA) grounded SpaceX's Falcon 9 rocket on Friday following the craft's breakup in space and the loss of its Starlink satellite payload. This incident marked the first failure in more than seven years for the rocket, which is a mainstay for the global space industry.
ET Exclusive: Tata Group puts its Trust in top panel for quick decisions
Separately, Aparna Uppaluri has stepped down from her role as COO of Tata Trusts citing personal reasons. Uppaluri was appointed in April 2023, and was the first to hold that role in Tata Trusts. Siddharth Sharma, who was appointed CEO of Tata Trusts at the same time, remains in his position. Tata Trusts is understood to be looking for a successor to Uppaluri, executives close to the matter said.
Sebi invites public comments on proposed amendments to REIT, InvIT rules
Capital markets regulator Sebi on Tuesday said it has sought public views on the proposed amendments to the master circulars for REITs and InvITs. In a consultation paper, Sebi said these amendments will provide clarity on the nomination rights of directors to the boards of REIT (Real Estate Investment Trusts) and InvIT (Infrastructure Investment Trusts) managers.
Sebi chief Madhabi Buch urges investors to identify mischief makers in the market
Recalling her own experience as an industry participant, Buch said it is "frustrating" for the law-abiding participant when he or she discovers an industry peer gaining using bad practices.
Sebi for benefits on zero coupon zero principal bonds
To encourage social sector spending, markets regulator Sebi has suggested that the government should allow tax benefits to companies investing in zero coupon zero principal bonds issued by not-for-profit organisations listed at the social stock exchange.
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NHAI to monetise assets with Rs 15000 to Rs 20000 crore in 2024-25 through InvIT
The National Highways Infra Trust (NHIT), its infrastructure investment trust formed in October 2020, has so far garnered Rs 26,125 crore in three rounds of monetisation with the per unit net asset value at Rs 124.75 as against the launched value of Rs 101 per unit in November 2021.
Ixigo closes pre-IPO secondary sale at Rs 176 crore
New investors Ashoka India Equity Investment Trust, Tata Mutual Fund, Bay Capital, and Steadview Capital, have acquired these shares. During a secondary sale, existing investors sell their stake, so the proceeds do not go to the company. Ixigo is also raising Rs 120 crore in fresh capital through the public issue.
Capital goods, utilities, infra & real estate sectors can see further re-rating: Mihir Vora
I think the more the uncertainty reduces, the higher the markets can go in terms of valuations and that applies to stocks specifically and that applies to the markets in general also.
Wall Street's faster trade settlement sees some temporary bumps
The transition to faster trade settlements in the U.S. faced bumps despite a mainly smooth switch to T+1 settlement cycle from T+2, mandated by the SEC. Market participants anticipated increased trade failures and hiccups in the securities market.
Tata Sons shares are not freely transferable, say Trusts
SP Group, promoted by the Mistry family, has pledged its entire 18.5% in Tata Sons held through two entities to secure monies from private credit funds such as Ares and Farallon. Additionally, it needs to raise funds for a separate repayment due in three months and refinance existing high-cost borrowings.
Sebi allows privately placed InvITs to issue subordinate units
Capital markets regulator Sebi on Tuesday notified a framework for issuance of subordinate units by privately placed infrastructure investment trusts (InvITs).
No vote-bank threat, less capital-flight risk from wealth tax: Nitin Kumar Bharti
Nitin Kumar Bharti, lead author of a recent World Inequality Lab report, suggests imposing a wealth tax in India to address inequalities, stating it would not affect 99.96% of the population.
360 ONE Prime to raise Rs 500 crore through NCD, effective yields may go up to 9.8%
360 One Prime on Friday opened its second tranche of fund raising of Rs 500 crore through the issue of non-convertible debentures (NCD) which might effectively yield 9.2% to 9.86% p.a. The issue will be closed on June 6.
NHAI's infra trust got $217.13 mn in FY24 from Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPP Investments) announced investments totaling USD 217.13 million in the National Highways Infra Trust and USD 394.78 million in Interise Trust for road concessions acquisition. Additionally, they committed USD 100 million to Kedaara Capital Fund IV and USD 300 million to an India-based asset manager focusing on credit opportunities. The organization manages funds for over 22 million contributors and beneficiaries of the Canada Pension Plan, investing globally in various asset classes.
Retail portion of Awfis IPO fully subscribed within hours of opening
IPO, which includes a fresh share sale of Rs 128 crore and an offer-for-sale of up to 12.2 million shares, closes on May 24. Around 75% of the IPO is reserved for qualified institutional bidders (QIBs), 15% for non-institutional investors, and the remaining 10% for retail investors. The company’s shares will list on the stock exchanges on May 30.
Awfis Space Solutions IPO opens for subscription. Should you bid?
Awfis Space Solutions IPO, with participation from anchor investors like Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund, and ICICI Prudential MF, will open for subscription at Rs 364-383/share. Analysts recommend subscribing for market leadership and reasonable valuations.
IPO calendar next week: 2 new issues, 8 listings to keep primary market vibrant even amid elections
IPOs Next Week: Apart from the new issues, D-Street will see as many as 8 listings including that of the Go Digit General Insurance, which opened for subscription in the week gone by and generated significant enthusiasm among investors, reflecting the broader positive market sentiment.
Strata to apply for SM REITs license to broaden fractional ownership platform
Strata, India's top CRE investment platform, has applied for SM REITs license per SEBI regulations to migrate eligible assets and target Rs 2000 crore AUM by FY25. SEBI's 2023 FOP model for assets over Rs 50 crore expands opportunities, boosting investor trust. Strata aims to democratize CRE investment for retail investors.
Awfis sets Rs 364-383 price band for IPO
The company expects its differentiated business model, expanding presence in tier-1 and tier-2 cities and increasing demand from large enterprises and startups to help make its public listing a success and drive future growth, founder and managing director Amit Ramani told ET on the sidelines of a pre-IPO conference in Mumbai.
Awfis Space Solutions IPO price band fixed at Rs 364-383; offer to open on May 22
Awfis Space Solutions' IPO opens for subscription on May 22, with a price band of Rs 364-383 per share. The offering aims to raise between Rs 576-599 crore, valuing the company at Rs 2,659 crore.
Tax free settlement of family assets: How Godrej like family arrangement can help in redistribution of wealth among members without capital gain tax
The Supreme Court of India permits re-distribution of wealth using family arrangement among the members of the family. Further using this method eliminates the possibility of the family memebers paying any capital gains tax. The Godrej family recenlty used this process. Read here to know how you too can use family arrangement process.
Awfis IPO: Price band for Rs 599 crore public issue announced
Coworking space company, Awfis Space Solutions, will launch its initial public offering (IPO) on May 22, the company’s red herring prospectus showed.
Office-sharing startup Awfis to launch IPO on May 22
Delhi-based Awfis has reduced the fresh capital it is raising from the offering to Rs 128 crore from Rs 160 crore earlier. Meanwhile, the company's offer for sale component (OFS), through which investors like Peak XV Partners and private equity firm ChrysCapital are divesting their stakes, has been increased to 12.3 million shares from 10 million shares earlier.
Deeptech startup Myelin Foundry raises $4 million led by Sidbi Venture Capital
Myelin Foundry secured $4 million with participation from existing investors. The funds will fuel platform development, global expansion, and solidify their edge AI leadership.
IndusInd sets itself a new Rs 4.2 lakh crore target, eyes 2030 timeline
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.
Buffett reassures about Berkshire's future, praises Apple even as he sells it
Warren Buffett paid tribute to his late business partner Charlie Munger at Berkshire Hathaway's annual meeting on Saturday, while reassuring shareholders that the executives expected to succeed him were ready for the job.
Indian mkts commanding high valuations on foreign investors' optimism, trust in India growth story: Buch
Sebi chairperson Madhabi Puri Buch on Tuesday said the Indian capital markets are commanding higher valuations because of foreign investors' optimism and trust in the country.
Fundraising via QIP hits Rs 78,000 crore in FY24 on strong market sentiment
Fuelled by improved market sentiments and robust underlying demand, fundraising by issuing shares/units to institutional investors soared to Rs 78,000 crore in 2023-24, a more than seven-fold surge year-on-year.
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