GICS
Anant Ambani Wedding Details: Check dates, dress-code, venue and guest-list
Anant Ambani Wedding Venue Details: Anant Ambani is set to marry Radhika Merchant in a lavish wedding from July 12-14, 2024, at Mumbai's Jio World Convention Centre. The celebrations include traditional ceremonies like Shubh Vivah, Shubh Aashirwad, and Mangal Utsav. Pre-wedding festivities have included extravagant events with global celebrities like Rihanna and Justin Bieber performing. The couple's relationship began in 2017 and has been marked by grand gestures, reflecting the opulence and influence of the Ambani family.
Anant-Radhika's Wedding: At the Wedding of the year, the A-list Includes Ex-PMs, CEOs, and Kim Kardashian
Nearly a dozen former presidents and prime ministers, alongside top global CEOs and celebrities like Kim Kardashian, are set to attend the wedding festivities of Radhika Merchant and Anant Ambani in Mumbai this weekend. Political heavyweights include Tony Blair, Boris Johnson, and John Kerry, while business moguls like Amin Nasser and Shantanu Narayen will also be present. The celebrations, spanning multiple events including a wedding ceremony and reception, mark the union of Anant Ambani, the youngest son of Mukesh and Nita Ambani, amidst a star-studded guest list from around the world.
Goldman Sachs nears $30-50 million MoEngage deal in signs of SaaS deals comeback
Goldman Sachs targets $35-50 million in MoEngage via secondary transaction. MoEngage, valued at $700 million in 2022 led by Goldman and B Capital, has clients including Flipkart. IFC invested in Innovaccer; Whatfix by Warburg Pincus; Icertis, SoftBank. Atlan received funds from GIC, Meritech. Noteworthy: Eight Roads Ventures, SaaS valuation multiples, Bessemer Venture Partners.
Private equity deals in Indian real estate increased marginally
Private equity deals in Indian real estate surged in Q1 FY25, mainly due to a significant investment in Reliance Retail's warehousing assets. The $1.5 billion Reliance-ADIA-KKR deal represented 71% of total PE deals. Despite an overall weak macroeconomic environment, deal sizes increased by 23% year-on-year. Other notable transactions occurred in Hyderabad, Bengaluru, Pune, and MMR.
Traders’ Corner: A specialty chemical major and insurance stock are getting ready for 7-8% short-term trading upmove
The crossing above Rs. 6000 levels resulted in initiating a smart upmove for LINDEINDIA; the stock tested the high of Rs. 9935 in May. After this, the stock took a breather and consolidated in a measured range over the past week.
Top 8 markets warehousing supply to grow 13-14% on year in FY25
The industrial and warehouse logistics park supply in India's major markets is set to grow by 13-14% in 2024-25, reaching 424 million sq ft. Absorption rates are expected to rise, supported by e-commerce expansion and government focus on manufacturing. Grade A warehouse stock to increase by 19-20%, with stable credit profiles for operators.
PE investment in real estate hits $2.5 bn in Q2, a 3-year high
Institutional investments in India's real estate sector surged to a three-year high of $2.5 billion in the June quarter, primarily driven by robust activity in the industrial and warehousing, and residential segments, according to Colliers. The industrial and warehousing segment attracted the majority of investments at $1.5 billion, marking an 11-fold increase from Q2 2023, while the residential segment also experienced significant growth. Conversely, investments in the office sector plummeted 83%. Foreign investors, particularly from the US and UAE, were prominent contributors in the market, indicating a positive outlook for the industry.
Institutional investment in Indian real estate at $2.5 billion in Q2, marking a 3-year high
Private equity investments in Indian real estate hit a three-year high in Q2 2024, totaling $2.5 billion. The industrial and warehousing segment led with 61% of the total investments ($1.5 billion), driven by large deals. The residential segment saw a 7.5x increase from Q2 2023, making up 21% of total inflows. Office assets received $0.3 billion, showing a significant annual decline.
AM Green, SJVN arm ink MoU for supply and sourcing of green energy
AM Green's partnership with SJVN Green Energy aims to supply 4.5 GW of renewable energy. The project supports India's green hydrogen production targets and contributes to global industrial decarbonization. Additionally, collaborations with Gentari Sdn Bhd and GIC further enhance AM Green's position in the renewable energy sector.
SJVN to supply 4500 MW green energy to AM Green's green ammonia facilities
Greenko Group's subsidiary, AM Green, and SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN, have signed a Memorandum of Understanding (MoU) for a long-term renewable energy supply agreement. Under the agreement, SGEL will provide 4,500 MW of carbon-free energy to power AM Green's forthcoming green ammonia facilities.
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates precisely, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasising the need for speed in the entire process.
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates with precision, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasizing the need for speed in the entire process.
India, the US and 12 other nations sign Indo-Pacific region economic pact
The US and 13 nations in Asia signed agreements on the Indo-Pacific Economic Framework, part of Biden's strategy to counter China's influence. The pact includes major economies like Japan, India, and South Korea, focusing on renewable energy, climate change, taxation, corruption, and supply-chain management.
Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath
Hero MotoCorp bought this stake at an inferred valuation of Rs 5,636 crore. This is a premium to the Rs 4,666-crore valuation at which the company had invested Rs 140 crore in Ather in December 2023.
Government initiates parametric & hydroelectric insurance pools for enhanced disaster protection
The government, led by GIC chairman Ramaswamy Narayanan, is developing parametric and hydroelectric insurance pools to enhance disaster protection. Parametric coverage will pay claims based on predefined triggers like earthquakes, while the hydroelectric pool will insure losses to power projects due to natural disasters. These schemes draw inspiration from the successful post-2004 terrorism insurance pool. The government plans to prioritize these initiatives after the elections. Details like whether the coverage will be at the state or district level are still being finalized.
Navigating financial requirements: Essential steps for international students to study in Canada
Studying abroad offers students the opportunity to experience new cultures and gain valuable academic insights. However, financial logistics are crucial. To study in Canada, international students must demonstrate sufficient financial support for their studies and living expenses, including additional funds for any accompanying family members. From 2019 to 2021, 10% of student visa applications were rejected due to insufficient funds.
GIC, Xander buy Allianz-Shapoorji Pallonji JV’s Hyderabad IT SEZ WaveRock for Rs 2,200 cr
In May 2023, ET first reported that global insurance and asset management major Allianz Group and Shapoorji Pallonji Group were looking to exit the IT Special Economic Zone (SEZ) property and that GIC had emerged as the frontrunner to acquire the 2.4-million-sq-ft asset.
GIC Re Q4 Results: Net profit rises 3% to Rs 2,642 crore
GIC Re on Tuesday posted a 3 per cent increase in net profit to Rs 2,642 crore for the fourth quarter ended March 2024 compared to Rs 2,564 crore in the same quarter a year earlier.
DLF rental arm DCCDL's office rental income rises 7% to Rs 3,460 cr in FY24
DLF's joint venture with DCCDL saw a 7% rise in rental income from office buildings to Rs 3,460 crore in the last fiscal, driven by rent appreciation and asset portfolio expansion. The rental business, holding a majority stake, demonstrated healthy occupancy levels and low vacancies. With sustained growth in rentals and service income, DCCDL reported a 9% increase in consolidated revenue and an 18% rise in net profit.
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