MUMBAI PHILANTHROPY CAPITAL INDIA
Feeling 'been there, donor that?' Lessons on CSR longevity from Tata Education Trusts
Tata Education Trusts resumed grants to TISS, addressing issues like dependency and self-sufficiency. With examples like Stanford University's shift to diverse funding, the need for smooth donor transitions is crucial. ₹15,600 cr in CSR funds highlights the importance of execution capabilities and accountability in ensuring effective impact engagement in the social sector.
Hats off to him for bowling last over: Rohit Sharma lauds Hardik Pandya after T20 WC triumph
India's skipper Rohit Sharma has praised all-rounder Hardik Pandya for his heroics in the last over during the ICC T20 World Cup 2024 final against South Africa. The Men in Blue lifted the prestigious trophy for the second time, defeating South Africa by seven runs in Barbados. Rohit announced his retirement from the shortest format of the game after winning the T20 World Cup final.
T20 World Cup victory parade for India's cricket team to be held tomorrow; check route and timing
The Board of Control for Cricket in India (BCCI) has announced a victory parade in Mumbai, Maharashtra, in honor of Team India's T20 World Cup win in Barbados. The team, which had been stranded in Barbados for three days due to a hurricane, will return to Delhi on Thursday. The victory parade will be hosted at the Marine Drive and Wankhede Stadium. India's team won the tournament with a total of 176/7 in their allotted 20 overs.
US fund Platinum acquires Inventia Health in India foray
Platinum Equity makes its debut in India by acquiring a majority stake in Mumbai's Inventia Healthcare. With a valuation of Rs 2,500 crore, the deal sees PE investors exiting while the promoter retains a minority stake. Platinum Equity, managing over $48 billion in assets, is well-known for its expertise in the healthcare sector.
Mumbai property market sets yet another benchmark, records best-ever June; registrations rise 12%
Mumbai, India's largest and priciest property market, has achieved a new milestone by recording its highest-ever property registrations for the month of June. In June, the city saw 11,538 property registrations, marking a 12% increase from the previous year. This led to the state exchequer collecting over Rs 998 crore in stamp duty revenue, reflecting a 16% year-on-year rise
By 2027, no of branded residences projects forecast to increase to 1200: Noesis Capital Advisors Report
While the Noesis analysis shows that the price premium of such residences globally is very high, in comparison, India currently sees a price premium of around 21-40% as per the market. The company said there is no reason to indicate why this number cannot go up in the future.
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Amazon Pay India top up; GST summons for egaming firms
Amazon has pumped Rs 600 crore in its local fintech unit Amazon Pay India. This and more today’s ETtech Top 5.
NARCL receives four bids for debt takeover of Sion Panvel Tollways in Mumbai
National Asset Reconstruction Co (NARCL) has received four expressions of interest for a second round of bidding to take over the debt of Sion Panvel Tollways linking Mumbai and Pune. The initial three bids were rejected for being undervalued. NARCL aims to recover bad debt and has acquired 18 stressed accounts worth Rs 92,510 crore. Bidders have until July 18 to submit new proposals. BoB Capital Markets is advising creditors on the sale.
Brain 'drain' turning to 'gain', India Inc should step up: HUL Chairman
HUL chairman Nitin Paranjpe discussed the importance of retaining talent in India and mentioned the rising trend of 'brain-gain' during the company's annual general meeting.
Mumbai remains India's most expensive city to live in: Survey
Within Asia, Mumbai and Delhi have seen upward movement in rankings. Mumbai has climbed six spots, while Delhi has moved up by two. As a result, Mumbai is now ranked as the 21st most expensive for expats among the cities surveyed in Asia, while Delhi is at the 30th position.
Ixigo public issue oversubscribed on opening day
Le Travenues Technology's IPO for online travel platform Ixigo was oversubscribed on the opening day, with bids for 85.5 million shares against 43.7 million available.
Modi's 'lower political capital' to hit implementation of tough reforms, says UBS
A Swiss brokerage stated that Prime Minister Narendra Modi's 'lower political capital' may hinder the new government's ability to implement tough reforms, potentially limiting the growth rate to around 7.5%. UBS Securities highlighted the importance of reforms related to land, farming, divestments, Uniform Civil Code, and one nation one election to boost growth to over 7.5% in the next five years.
Monsoon reaches Mumbai two days early
Southwest monsoon arrived in Mumbai two days early, after early onset over Kerala and northeast on May 30, as per IMD. Last year, monsoon reached Delhi and Mumbai together on June 25, impacted by Cyclone Biparjoy. Monsoon normally reaches Kerala by June 1 and Mumbai by June 11.
Mumbai cha raja kaun? Many reasons why 'Nakli Sena' won most seats in India's financial capital
The biggest electoral exercise in the country concluded with Uddhav Thackeray's Shiv Sena shining in Maharashtra, winning 9 out of 21 contested Lok Sabha seats. The party faced a tough Sena vs Sena battle in Mumbai North West, losing by a slim margin of 48 votes.
Mumbai Lok Sabha elections 2024: Minister Piyush Goyal wins in maiden contest
In his inaugural Lok Sabha elections, Union Minister secured victory in Mumbai North, a constituency traditionally regarded as the BJP's stronghold in Maharashtra. For the 18th Lok Sabha, the BJP opted for a strategic shift by nominating Union Minister Piyush Goyal as their candidate for this constituency. This decision caught many off guard, given that BJP's Gopal Shetty had clinched this seat in the previous two Lok Sabha polls and enjoyed a firm grip on the constituency.
Kedaara-backed Ajax Engineering is said to plan India IPO
The concrete equipment maker is planning its IPO in Mumbai in the fourth quarter, said sources A listing could value the company at $1.2 billion, and the company aims to file a prospectus for the share sale by August.
100X.VC invests $2.7 million in 17 startups
100X.VC, a Mumbai venture capitalist firm, injected $2.7 million into 17 startups in their 11th cohort. This brings their total portfolio to 161 companies. Ninad Karpe, founder and partner at 100X.VC, said they invested Rs 1.25 crore in each startup and provided mentorship to help them refine their products and go-to-market strategies.
India bankers brace for IPO surge as election uncertainty lifts
About $3.9 billion has been raised in India via IPOs so far this year, more than double the same period in 2023, and a tally that’s higher than the combined amount raised in South Korea and Hong Kong, according to data compiled by Bloomberg.
InCred Capital appoints Julius Baer India’s Vikram Agarwal as chief operating officer
InCred Capital appointed Vikram Agarwal as its COO, who brings extensive experience from Julius Baer India to lead various functions at the Mumbai-based company.
Private philanthropy to expand at 10–15% annually in next five years: Neera Nundy, Partner, Dasra
Private philanthropy is expected to see a significant expansion with family philanthropy seeing a shift towards building a strong ecosystem.
More PE firms gearing up for India debut
The US PE firm Platinum Equity is exploring investments in a range of sectors.
Check out the key seats as Mumbai gears up to vote in the fifth phase of the Lok Sabha polls
The fifth phase of the Lok Sabha elections on May 20 covers 13 Mumbai constituencies including notable candidates like Piyush Goyal, Ujjwal Nikam, and Arvind Sawant. Maharashtra with 48 parliamentary seats, including Mumbai North, is a battleground for the Mahayuti coalition and Maha Vikas Aghadi alliance. The Mumbai Metropolitan Region adds Bhiwandi and Palghar to the mix.
Certus Capital commits Rs 400 crore through three real estate investments
Institutional real estate investment firm Certus Capital has finalised investments worth over Rs 400 crore through three real estate funding transactions. The funding is part of its plan to invest Rs 1,000 crore through secured credit in India’s real estate sector in 2024-25.
Ponting, Fleming, Gambhir or Laxman, who will be the next coach of Team India? Here's what we know
The BCCI has invited applications for the role of head coach of India's men's cricket team as Rahul Dravid's tenure nears its end post-T20 World Cup 2024. Possible replacements include Stephen Fleming, Ricky Ponting, Justin Langer, Gautam Gambhir, and VVS Laxman. There are speculations that BCCI may pick foreign coach this time.
Ravi Shastri, Ravichandran Ashwin back IPL's Impact Player rule
Former India coach Ravi Shastri and spinner Ravichandran Ashwin supported the controversial "Impact Player" rule in the IPL citing more close finishes. Despite criticism from players like Rohit Sharma and Axar Patel, Shastri believes the rule helps the game evolve. BCCI Secretary Jay Shah acknowledged the rule's temporary nature and plans to assess its impact after the World Cup.
Nalanda Capital sells 1.4 pc stake in Great Eastern Shipping for Rs 190 crore
Singapore-based Nalanda Capital through its arm Nalanda India Equity Fund Ltd sold shares of Great Eastern Shipping Co Ltd through a bulk deal on the BSE. As per the data, Nalanda India Equity Fund offloaded 20 lakh shares, amounting to a 1.4 per cent stake in Mumbai-based Great Eastern Shipping Co Ltd.
T20 World Cup: Ajit Agarkar, Rohit Sharma set to meet informally in Delhi ahead of squad announcement
Ajit Agarkar, the chairman of the national selection committee, is set to meet with skipper Rohit Sharma in New Delhi to discuss the potential 15-member squad for the T20 World Cup in the USA. The formal announcement is scheduled for May 1, aligning with the ICC event's cut-off date. The focus remains on Hardik Pandya's bowling fitness, with Tilak Varma emerging as a potential wildcard.
Forget Mumbai or Bengaluru, this city reigns as the cryptocurrency capital of India
Notably, Delhi boasts of 25% of crypto investors, followed closely by Bengaluru with 16%. Mumbai (9%), Hyderabad (8.9%), Chennai (8%), Kolkata, Pune, Lucknow, and Ahmedabad also contribute significantly to the expanding presence of crypto enthusiasts in the country.
Houses worth Rs 1.11 lakh crore were sold during Jan-Mar, says report
"Growth in housing sales both in volume and value terms augurs well for the overall economy as more than 200 ancillary industries, including cement and steel, are dependent on the real estate sector,” said Vikas Wadhawan, Group CFO, REA India. PropTiger.com data showed that housing sales grew by 41 per cent to 1,20,640 units in the first quarter of this calendar year from 85,840 units in the corresponding period of the previous year.
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