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<keyword id="23031470" type="General" weightage="20" keywordseo="ventive-hospitality" source="keywords">Ventive Hospitality</keyword>, a joint venture between Blackstone Group and <keyword id="21088756" type="General" weightage="20" keywordseo="panchshil" source="keywords">Panchshil</keyword> Realty, on Tuesday filed preliminary papers with capital markets regulator Sebi to raise Rs 2,000 crore through an initial public offering (IPO). The Pune-based company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP). Also, the company may consider a pre-IPO placement aggregating up to Rs 400 crore. If such placement is undertaken, the issue size will be reduced. Proceeds of the IPO to the tune of Rs 1,600 crore will be used for debt payment. As per the draft papers, <keyword id="23114126" type="General" weightage="20" keywordseo="ventive" source="keywords">Ventive</keyword> Hospitality has a borrowing of Rs 412.60 crore as of March 2024. Ventive Hospitality is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the <keyword id="19926427" type="General" weightage="20" keywordseo="maldives" source="keywords">Maldives</keyword>. At present, Panchshil holds a 60 per cent stake in Ventive, while Blackstone owns the remaining 40 per cent stake. As of March 2024, the company's portfolio comprised 11 operational hospitality assets comprising 2,036 keys, of which six are operated by or franchised from Marriott, two are operated by or franchised from Hilton and the remaining three are operated by other hotel operators. Some of its hospitality assets are Anantara Maldives, Conrad Maldives, JW Marriott, Pune and The Ritz-Carlton, Pune. JM Financial, Axis Capital, ICICI Securities, IIFL Securities, <keyword id="20424038" type="General" weightage="20" keywordseo="kotak-mahindra-capital-company" source="keywords">Kotak Mahindra Capital Company</keyword>, <keyword id="19951017" type="General" weightage="20" keywordseo="sbi-capital-markets" source="keywords">SBI Capital Markets</keyword> and HSBC Securities and Capital Markets(India) Private Ltd are the book running lead managers for the issue. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-energy-looks-to-raise-3100-crore-files-ipo-papers-with-sebi/articleshow/113214971.cms">Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-iphone-16-pro-max-india-price-specifications/articleshow/113204340.cms">iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms">iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900</a>

Ventive Hospitality files papers with Sebi to raise Rs 2,000-cr via IPO

New Delhi, <keyword id="1364237" type="General" weightage="80" keywordseo="cryogenic" source="Orion">Cryogenic</keyword> tank maker <keyword id="1409241" type="General" weightage="50" keywordseo="inox-india-ltd" source="Orion">Inox India Ltd</keyword> has filed preliminary papers with capital market regulator Sebi to mop up funds through an <keyword id="35216" type="General" weightage="80" keywordseo="initial-public-offering" source="Orion">initial public offering</keyword>. The Initial Public Offering (IPO) is entirely an Offer For Sale (OFS) of up to 2.21 crore shares by its existing shareholders and promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. Those offering shares in the OFS are Siddharth Jain, Pavan Kumar Jain Nayantara Jain, Ishita Jain, and Manju Jain. Since the issue is completely an OFS, the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders. Explaining the reason for going public, the company said it is aimed at achieving the benefit of listing equity shares on the stock exchanges and carrying out OFS for the selling shareholders. <keyword id="90050" type="General" weightage="100" keywordseo="inox-india" source="Orion">Inox India</keyword>, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation of equipment and systems for cryogenic conditions. The company's offering includes standard cryogenic tanks and equipment, bespoke technology, equipment, and solutions as well as large turnkey projects that are used in industries such as industrial gases, LNG, green hydrogen, energy, steel, medical and healthcare, chemicals and fertilisers, aviation and aerospace and construction. ICICI <keyword id="18590863" type="General" weightage="50" keywordseo="securities-and-axis-capital" source="Orion">Securities and Axis Capital</keyword> are the book-running lead managers to the issue.

Cryogenic tank maker Inox India files draft papers with Sebi for IPO

<keyword id="22202960" type="General" weightage="20" keywordseo="Bain-Capital-backed" source="keywords">Bain Capital-backed</keyword> <keyword id="20737581" type="General" weightage="20" keywordseo="Emcure-Pharmaceuticals" source="keywords" meta.keywordsubtype="org" meta.entityname="Emcure Pharmaceuticals" meta.hostid="153" meta.entityid="Emcure Pharmaceuticals">Emcure Pharmaceuticals</keyword> on Friday said it has fixed a price band of Rs 960 to Rs 1,008 per share for its Rs 1,952-crore <keyword id="19913114" type="General" weightage="20" keywordseo="Initial-Public-Offering" source="keywords">Initial Public Offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>). The initial share sale will be available for public subscription during July 3-5 and the bidding for anchor investors will open for a day on July 2, the company announced. The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public size to Rs 1,952 crore. Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital. Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments owns a 13.07 per cent stake. Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes. Brokerage houses have pegged the company's market capitalisation to over Rs 19,000 crore post-issue. The Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. Employee portion has been reserved up to 108,900 equity shares in the IPO. Besides, half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Further, investors can bid for a minimum of 14 shares and in multiples of 14 shares thereafter. Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company are expected to list on the BSE and NSE on July 10. Earlier this month, the company received Sebi's go-ahead to float initial share sale.

Bain Capital-backed Emcure Pharma to float ₹1,952-crore IPO on July 3

Benchmark <keyword id="19963565" type="General" weightage="20" keywordseo="equity-indices" source="keywords">equity indices</keyword> <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> soared to new lifetime highs on Thursday, fuelled by intense buying in market heavyweights Reliance, ICICI Bank and HDFC Bank amid a recent surge in <keyword id="20078820" type="General" weightage="20" keywordseo="foreign-capital-inflows" source="keywords">foreign capital inflows</keyword>. Besides, stable <keyword id="22019871" type="General" weightage="20" keywordseo="global-crude-prices" source="keywords">global crude prices</keyword> extended support to capital markets amid investors looking for fresh triggers, traders said. Rallying for the sixth straight session, the 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword> Sensex climbed 141.34 points or 0.18 per cent to settle at a new closing peak of 77,478.93. During the day, it surged 305.5 points or 0.39 per cent to 77,643.09. As many as 2,282 stocks advanced while 1,571 declined and 128 remained unchanged on the BSE. The BSE benchmark has jumped 1,022.34 points or 1.33 per cent in the last six days. The NSE Nifty rose 51 points or 0.22 per cent to settle at its fresh closing high of 23,567. Intra-day, it soared 108 points or 0.45 per cent to 23,624. "<keyword id="19950996" type="General" weightage="20" keywordseo="FIIs" source="keywords">FIIs</keyword> have been net buyers in Indian equities for the last three days and have bought Rs 12,600 crore, which includes a few large block deals. On the domestic front, the market is consolidating with a positive bias amid strong <keyword id="19955355" type="General" weightage="20" keywordseo="fii" source="keywords">FII</keyword> flows and healthy macros. Also, an expectation of a <keyword id="22122183" type="General" weightage="20" keywordseo="growth-focused-budget" source="keywords">growth-focused budget</keyword> is aiding sentiments and is likely to lead to sector-specific action," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Among the 30 Sensex companies, JSW Steel, Tata Steel, Axis Bank, Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank and Asian Paints were among the biggest gainers. In contrast, Mahindra &amp; Mahindra, Sun Pharma, NTPC, Wipro, State Bank of India and Power Grid were among the laggards. "Markets were a bit volatile in early trade but settled in positive territory to move in a range-bound manner thereafter, as investors resorted to stock-specific selection after witnessing record-breaking spree over the past few sessions. Also, US indices were closed on Wednesday, and hence, domestic investors were cautiously optimistic," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. In the broader market, the BSE smallcap gauge jumped 1 per cent, and the midcap index rallied 0.55 per cent. Among the indices, realty jumped 1.97 per cent, commodities climbed 1.88 per cent, metal rallied 1.87 per cent, energy surged 0.90 per cent and industrials (0.50 per cent). Telecommunication, utilities, auto, power and teck were the laggards. "Global shares held around record highs on Thursday, helped by investor confidence in the chance of a drop in US interest rates this year, while the pound held steady ahead of a Bank of England meeting later in the day. "European stocks strengthened after the Swiss National Bank delivered a second interest rate cut of 25 bps to 1.25 per cent," Deepak Jasani, Head of Retail Research at HDFC Securities, said. In Asian markets, Seoul and Tokyo settled in the green, while Shanghai and Hong Kong ended lower. Markets in Europe were trading in positive territory. US markets were closed on Wednesday in observance of Juneteenth. Foreign Institutional Investors (FIIs) bought equities worth Rs 7,908.36 crore on Wednesday, according to exchange data. "....the decline in US bond yields has facilitated robust FII inflows in recent days," said Vinod Nair, Head of Research, Geojit Financial Services. Global oil benchmark Brent crude climbed 0.16 per cent to USD 85.21 a barrel. "In the near term, market attention is expected to centre around the upcoming Union Budget and the progress of monsoon," Nair said. Rising for the fifth straight session on Wednesday, the BSE benchmark climbed 36.45 points or 0.05 per cent to settle at 77,337.59. However, the Nifty ended at 23,516, down 41.90 points or 0.18 per cent. Intra-day, it rose 106.1 points or 0.45 per cent to 23,664.

Sensex, Nifty scale fresh record high levels on robust FII inflows

Equity benchmark indices <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> hit their fresh record levels on Thursday after lower <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> numbers raised hopes of an <keyword id="20071379" type="General" weightage="20" keywordseo="interest-rate-cut" source="keywords">interest rate cut</keyword> by the RBI. Heavy buying in <keyword id="19970984" type="General" weightage="20" keywordseo="capital-goods" source="keywords">capital goods</keyword>, consumer durable and <keyword id="21930456" type="General" weightage="20" keywordseo="industrial-stocks" source="keywords">industrial stocks</keyword> also helped the indices, traders said. Retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday. Rising for the second day in a row, the 30-share BSE Sensex jumped 538.89 points or 0.70 to hit its lifetime peak of 77,145.46. It later ended at a fresh record high at 76,810.90; up 204.33 points or 0.27 per cent. The NSE Nifty rallied 75.95 points or 0.33 per cent to settle at a new closing high of 23,398.90. During the day, it climbed 158.1 points or 0.67 per cent to its record peak of 23,481.05. Among the 30 Sensex companies, Mahindra &amp; Mahindra, Titan, Larsen &amp; Toubro, IndusInd Bank, Tech Mahindra, UltraTech Cement, Wipro, Tata Consultancy Services, Bajaj Finance and Nestle were the biggest gainers. On the other hand, Hindustan Unilever, Power Grid, Axis Bank, Bharti Airtel, ICICI Bank and ITC were among the laggards. In Asian markets, Seoul and Hong Kong settled higher, while Tokyo and Shanghai ended lower. European markets were trading lower. US markets ended mostly with gains. "There is good news on the inflation front, both in the US and in India. The takeaway from the inflation numbers is that the disinflation process is well on track. From the market perspective, this is positive news, particularly for banking stocks," said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Federal Reserve officials said on Wednesday that inflation has fallen further toward their target level in recent months but signalled that they expect to cut their benchmark interest rate just once this year. The policymakers' forecast for one rate cut was down from a previous forecast of three, likely because inflation, despite having cooled in the past two months, remains persistently elevated. Global oil benchmark Brent crude declined 0.71 per cent to USD 82.01 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 426.63 crore on Wednesday, according to exchange data. The BSE benchmark climbed 149.98 points or 0.20 per cent to settle at 76,606.57 on Wednesday. The Nifty ended at 23,322.95, up 58.10 points or 0.25 per cent.

Sensex, Nifty scale fresh peaks as inflation cools off; Heavy buying in capital goods aids indices

Mumbai, India's real <keyword id="44910" type="General" weightage="20" keywordseo="gdp-growth" source="Orion">GDP growth</keyword> will moderate to 6.5 per cent in FY25, mainly due to global headwinds, <keyword id="6355975" type="General" weightage="20" keywordseo="axis-bank" source="Orion">Axis Bank</keyword>'s chief economist <keyword id="926117" type="General" weightage="20" keywordseo="neelkanth-mishra" source="Orion">Neelkanth Mishra</keyword> said on Monday. India's GDP is 7 per cent lower than what it would have been if the pre-pandemic GDP growth trend had continued, Mishra added. It can be noted that last Friday, the Reserve Bank sharply upped its FY24 growth estimate to 7 per cent from the earlier 6.5 per cent. Mishra also pegged the FY24 growth at 7 per cent with upside risks. For FY25, he expects a moderation in the real GDP growth to 6.5 per cent, Mishra said, attributing the same to an intensification of global headwinds in the near future. He said the <keyword id="4644154" type="General" weightage="20" keywordseo="domestic-activity" source="Orion">domestic activity</keyword> is resilient, and the global growth is already proving to be a drag, and added that the same is likely to worsen going ahead. Mishra explained that in the US, the largest economy in the world, the growth is being boosted by fiscal deficit and predicted the long-feared recession to be a reality. "Recession in the US is delayed, not deferred," he said, terming the situation around the fiscal deficit in the US as his biggest concern. The chief economist said he is alarmed by the lack of discussion on this critical aspect, stating that the US fiscal challenges are underappreciated. The US has adopted a pro-cyclical policy stance rather than being the more prudent counter-cyclical one adopted by countries like India, Mishra said. The world has to get used to the "policy inversion" in the US, and the scarcity in dollars, Mishra said, adding that the latter will impact even a country like India. He said while India could easily fund USD 70 billion of a current account deficit, funding even USD 30-40 billion will now get hard. The general elections in India will not lead to much of a change in the policy direction, Mishra said, adding that if he were a corporate, he would decide to start investing soonest because of the demand. He pointed to power generation - coal-based and renewable - as one of the investment areas and added that capital expenditure is already happening in many areas. The Reserve Bank is unlikely to cut its repo rate through 2024 on the volatile food inflation, he said, adding that the headline number will cool down in the year. The government is likely to cut the fiscal deficit by 0.70 per cent each in FY25 and FY26 to meet its stated target of getting the number down to 4.5 per cent, he noted. Foreign rating agencies are unlikely to upgrade the country's rating even if the fiscal gap narrows, he said, adding that there is a need for a lowering in the high debt-to-GDP ratio.

GDP growth will moderate to 6.5% in FY25 on global headwinds: Axis Bank

<ul><li>The new fund offering (<keyword id="35472" type="General" weightage="20" keywordseo="nfo" source="Orion">NFO</keyword>) opens on December 1, 2023. </li><li>The fund is designed to strategically invest in <keyword id="62614" type="General" weightage="20" keywordseo="sectors" source="Orion">sectors</keyword> benefiting from India's <keyword id="6386662" type="General" weightage="20" keywordseo="economic" source="Orion">economic</keyword> shifts. </li><li>The fund will adopt a bottom-up strategy, selecting stocks across market caps. </li></ul>Axis Mutual Fund has launched the <keyword id="19658385" type="General" weightage="20" keywordseo="Axis-India" source="Orion">Axis India</keyword> <keyword id="5382838" type="General" weightage="20" keywordseo="manufacturing-fund" source="Orion">Manufacturing Fund</keyword>, an open- scheme that mirrors India's manufacturing landscape, and is benchmarked against the Nifty India Manufacturing TRI. The new fund offer (NFO) opens on December 1st, 2023, and seeks to enable investors to tap into the potential growth of India’s manufacturing sector, which is anticipated to expand in the years ahead. Investors can participate in the NFO until December 15, 2023. Why manufacturing as a theme? India is heading toward an exciting future, embracing modern technologies and focusing on sustainable growth. Government actions, along with labour and tax changes, position India as a competitive global manufacturing centre. India relies heavily on consumption, making it less prone to global economic shifts. The surge in growth is fueled by enhanced economic confidence driving product demand and efficient use of production capabilities. Hence, manufacturing as a theme holds a lot of promise. Axis India manufacturing fund's strategic focus The fund is designed to strategically invest in sectors benefiting from India's economic shifts, aiming for a diverse portfolio reflecting the depth of India's manufacturing strength. Encompassing sectors like capital goods, consumer durables, textiles, and pharmaceuticals, the fund will offer a comprehensive investment avenue within India's manufacturing landscape. Investment strategy across economic segments The fund targets three companies across three sectors of the Indian economy: Investments (Capex cycle): Companies boosting production through investments in equipment and research. Consumption: Industries witnessing increased demand due to rising incomes and a trend towards premium products. Net exports: The fund will be focused on companies benefitting from India's global supply chain integration. Investment approach and focus The fund will adopt a bottom-up strategy, selecting stocks across market caps. Emphasising active sector allocation and a 'Quality' investing style, it also aims to look at underrepresented segments in Indian listed markets. Says B Gop Kumar, MD and CEO, Axis Asset Management Compnany (AMC), "This thematic fund, is designed to capitalise on India’s growing momentum, focusing on sectors that stand to redefine India’s industrial contours.” Currently there are only a few manufacturing funds in India with a one and three year track record. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ff0000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ff0000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1-year return (%) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;background-color:#ff0000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3-year return (%) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Sun Life Manufacturing Equity Fund - Direct Plan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.33 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.99 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Manufacturing Fund - Direct Plan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.20 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.86 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Manufacture in India Fund - Direct Plan </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.62 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-- </td></tr></tbody></table> Source: Value Research “Investors should not take positions into these thematic funds for more than 10% of their portfolio allocation. That way if it doesn’t work out, they won’t face they won’t face a large drawdown on their portfolio,” says Abhishek Kumar, founder and chief<a href="https://business.outlookindia.com/invest/investment"> </a>investment advisor at SahajMoney, a financial planning firm. This is because thematic funds like manufacturing funds can carry higher risks due to their focused investment in specific sectors or trends. Their success hinges on the performance of those particular themes, making them more vulnerable to market fluctuations and industry-specific challenges.

New fund alert: 'Axis India Manufacturing Fund'

<ul></ul><ul><li><keyword id="6358977" type="General" weightage="20" keywordseo="Swiggy" source="Orion">Swiggy</keyword> is now India’s latest decacorn after raising $700 million in its latest round.</li><li><keyword id="830092" type="General" weightage="20" keywordseo="Zomato" source="Orion">Zomato</keyword> is now valued under $10 billion as its shares dropped below the ₹100-mark earlier today.</li><li>A whole host of new investors participated in Swiggy’s latest venture capital funding round.</li></ul>Food and grocery delivery giant Swiggy has surpassed rival Zomato’s valuation as it raised $700 million. This development was aided by the plunge stock market took on Monday, January 24. Swiggy was valued at $10.7 billion in this latest round, a source close to the deal told Business Insider. The company, which was founded in 2014, has not officially announced the valuation. While Swiggy has attained the decacorn title, Zomato has lost it as its shares dropped <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms">below the ₹100 mark earlier today</a>. The company’s shares hit an all-time low of ₹91 and its market cap came down to ₹71,629 ($9.6 billion). A decacorn is a company valued at or more than $10 billion. <div type="image" title="Swiggy is now valued more than Zomato" msid="89092891" hostid="261"></div> Swiggy’s latest funding round was led by US-based investment firm Invesco in a fresh round of external funding, the company has announced. New investors such as <keyword id="9554362" type="General" weightage="20" keywordseo="Baron-Capital-Group" source="Orion">Baron Capital Group</keyword>, <keyword id="13021155" type="General" weightage="20" keywordseo="Sumeru-Venture" source="Orion">Sumeru Venture</keyword>, IIFL AMC Late Stage Tech Fund, Kotak, <keyword id="13021156" type="General" weightage="20" keywordseo="Axis-Growth-Avenues-AIF-I" source="Orion">Axis Growth Avenues AIF- I</keyword>, Sixteenth Street Capital, Ghisallo, Smile Group and Segantii Capital participated in this financing round. The company’s existing investors Alpha Wave Global (formerly Falcon Edge Capital), Qatar Investment Authority, and ARK Impact, and Prosus also participated in the round, Swiggy said in a press note. “The GMV [gross merchandise value] our food delivery business achieved in 40 months, took Instamart just 17 months, demonstrating the platform benefits of Swiggy. We will double down on this to build more categories in line with our mission of offering unparalleled convenience to Indian consumers,” said Swiggy’s Chief Executive Officer (CEO) Sriharsha Majety in a statement. Instamart is Swiggy’s quick commerce arm, which delivers groceries within 15-30 minutes. In July last year, Swiggy <a href="https://www.businessinsider.in/business/startups/news/swiggy-raises-1-25-billion-in-a-mega-round-of-funding-led-by-softbank-and-prosus/articleshow/84578974.cms">had raised $1.25 billion</a> led by SoftBank and Prosus. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-another-200-million-this-time-at-a-valuation-of-5-billion/articleshow/89088739.cms" style="">Ola Electric raises another $200 million, this time at a valuation of $5 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/check-out-top-10-losers-in-share-market-that-lost-more-than-15-in-last-one-month/articleshow/89089076.cms">Wipro, L&amp;T Infotech, Zee Entertainment, Mindtree among top losers that hit investors’ portfolio in the last one month</a>

Swiggy is now valued more than Zomato

<ul class="summary-list"><li><keyword id="11897927" type="UNKNOWN" weightage="60" keywordseo="venture-capital" source="Orion">Venture capital</keyword> invested a record $30 billion in <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> in 2021, Bloomberg said, citing <keyword id="12778476" type="UNKNOWN" weightage="60" keywordseo="pitchbook" source="Orion">PitchBook</keyword>.</li><li>That's nearly four times the previous record of $8 billion in 2018, the report said.</li></ul>Venture capital funds poured a record $30 billion — more than every other year combined — into crypto investments in 2021, <a href="https://www.bloomberg.com/news/articles/2021-12-19/ftx-moonpay-axie-lead-crypto-firms-attracting-record-30-billion-in-2021?srnd=markets-vp">Bloomberg reported</a>.The report, which cited PitchBook data, said the sky-high number is nearly four-times the 2018 record of about $8 billion, in part thanks to investors funding "anything and everything" in crypto. Much of that fundraising — about $7.2 billion — came from US venture capital, according to the report. PitchBook did not respond to Insider's request for the data.Axie Infinity-owner Sky Mavis, for example, <a href="https://pitchbook.com/newsletter/sky-mavis-lands-150m-series-b">raised $150 million</a> at a $3 billion valuation in a funding round led by venture firm Andreessen Horowitz. <keyword id="11971138" type="UNKNOWN" weightage="60" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword>, an ethereum-based play-t0-earn game, has been generating hundreds of millions of dollars in revenue as players have <a href="https://markets.businessinsider.com/news/currencies/ethereum-axie-infinity-cryptocurrencies-tokens-slp-axs-markets-2021-8">sought to make money</a> in crypto video games. <a href="https://markets.businessinsider.com/news/stocks/top-shot-nba-nft-dapper-labs-investment-funding-round-valuation-2021-3">DapperLabs</a>, the non-fungible token platform behind CryptoKitties and <a href="https://www.businessinsider.com/nba-top-shot-virtual-highlights-for-sale-moments-blockchain-explained-2021-2?utm_source=markets&amp;utm_medium=ingest">NBA TopShot</a>, raised $305 million in March at a $2.6 billion with the help of basketball superstars Michael Jordan and Kevin Durant. In November, the self-described PayPal for crypto known as <a href="https://markets.businessinsider.com/news/currencies/moonpay-scores-valuation-as-paypal-for-crypto-plans-hiring-spree-2021-11">MoonPay scored a $3.4 billion valuation</a> after raising more than half a billion dollars with the help of Tiger Global Management and Coatue.Crypto, an industry that's just over a decade old, has gained traction this year. <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> and ether, the top two <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> by market capitalization, reached record highs in 2021. The market for <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword>, digital art tied to the blockchain, is set to <a href="https://markets.businessinsider.com/news/currencies/how-to-give-someone-an-nft-crypto-for-holidays-christmas-2021-12">hit a record $17.7 billion</a> by the end of the year, according to research from <a href="https://cointelegraph.com/news/nft-sales-aim-for-a-17-7b-record-in-2021-report-by-cointelegraph-research">Cointelegraph</a>. And the <a href="https://markets.businessinsider.com/news/currencies/metaverse-cryptocurrencies-up-37000-percent-axie-infinity-decentraland-bitcoin-altcoins-2021-12">metaverse</a> has been gaining steam since Facebook's parent company rebranded to Meta, as a sign of its push into the next phase of the internet.

Venture capital invested a record $30 billion in crypto in 2021, more than quadruple previous high

Financial services company <keyword id="7349800" type="UNKNOWN" weightage="20" keywordseo="bharatpe">BharatPe</keyword> on Monday said it has raised ₹50 crore in debt from <keyword id="6254083" type="UNKNOWN" weightage="20" keywordseo="Northern-Arc-Capital">Northern Arc Capital</keyword>, one of the leading digital debt finance platforms. This is the sixth round of debt financing in 2021, the company said. In January, the company had raised ₹200 crore from three top debt companies in the country -- Alteria Capital, <keyword id="2809652" type="COMPANY" weightage="20" keywordseo="InnoVen-Capital">InnoVen Capital</keyword> and <keyword id="2694863" type="COMPANY" weightage="20" keywordseo="Trifecta-Capital">Trifecta Capital</keyword>, having later raised additional capital from <keyword id="6653" type="COMPANY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> and <keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword>. "We have considerably ramped up our lending business in the last year and have set an ambitious target of facilitating disbursals to the tune of $1 billion to more than 10 lakh merchants by the end of current fiscal (FY22)," said Suhail Sameer, Group President, BharatPe. "We are excited about our latest capital raise from Northern Arc and are confident that, together, we will be able to transform Bharat and serve the needs of the underserved businesses in India," he added. The fintech company has already facilitated disbursals of over ₹1,600 crore to more than 2 lakh merchants since the launch of the lending vertical. "Northern Arc has continually worked towards extending credit to like-minded organisations such as BharatPe that enable financial access to small businesses and merchants across the country," said Bama Balakrishnan, <keyword id="6423421" type="COMPANY" weightage="20" keywordseo="coo">COO</keyword>, Northern Arc. Northern Arc has directly disbursed more than ₹3,500 crore over the last financial year to MSMEs, households, financial institutions and mid-market corporates. SEE ALSO: <a href="https://www.businessinsider.in/business/news/this-ev-startup-mobycy-went-from-solving-last-mile-commute-to-delivery/articleshow/82513392.cms">It took one pivot and five years for this EV startup founder to hit the sweet spot for business in India</a> <a href="https://www.businessinsider.in/tech/apps/news/clubhouse-android-download-release-date-beta-version/articleshow/82515109.cms">Clubhouse for Android finally launched as downloads and hype take a plunge</a> <a href="https://www.businessinsider.in/finance/banks/news/bandhan-bank-share-price-falls-after-reporting-an-80-fall-in-its-net-profit/articleshow/82516642.cms">Bandhan Bank falls 4% after reporting an 80% fall in its net profit – positive market trends help it bounce back into the green</a>

SME lending startup BharatPe raises ₹50 crore in debt from Northern Arc Capital

<ul><li>100% UHNIs in India expect their wealth to grow in 2023, compared to 69% globally. </li><li>15% Indian UHNIs held residential property abroad as compared to 28% globally. </li><li>For UHNIs, the top segments for wealth allocation were equities, direct commercial property, bonds and private equity. </li><li>For the first time, private investment surpassed institutional investment in global commercial real estate. </li></ul>Last year was good for Indian ultra high networth individuals or UHNIs – as 88% of them reported growth in their wealth. Globally, only 40% of the <keyword id="469040" type="General" weightage="20" keywordseo="super-rich" source="Orion">super rich</keyword> could make the same claim as per a report by property consultant <keyword id="6363605" type="General" weightage="100" keywordseo="knight-frank" source="Orion">Knight Frank</keyword>. It hence comes as no surprise that all of them – 100% of Indian UHNIs — expect their wealth to grow even in 2023, says The Wealth Report 2023. Globally, 69% of them expect good tidings this year. In India, 19% of Indian super rich are self-made and under 40 years, while globally they account for 23%. UHNIs or the super-rich are defined as those who have an investable surplus of ₹25 crore or more. <cmsannotation type="cmsannotation" annotationid="A bad year for global wealth" comment="subhead2" text="A bad year for global wealth">A bad year for global wealth</cmsannotation> The year of 2022 however was a wealth destroyer, the aggregate global wealth fell by 10%. The most hit was Europe which was on the receiving end of the Russia-Ukraine war – whose wealth fell by 17%. In Asia and Middle East regions, it fell by 7% each, and 10% in the Americas. Globally, in 2022, private investors were the most active buyers in global commercial real estate investment. They invested $455 billion accounting for 41% of the total. “This represents private investors’ highest share of global commercial real estate on record and is the first-time private investment has surpassed institutional investment,” Knight Frank said. <cmsannotation type="cmsannotation" annotationid="More wealth to secondary homes" comment="subhead2" text="More wealth to secondary homes">More wealth to secondary homes</cmsannotation> The report also revealed interesting insights regarding home ownership of Indian UHNIs. On average, they own an average of 5.1 homes, while the global number is 4.1. The wealth allocation to primary and secondary homes was 37% for Indians, and 32% globally. Only 15% Indian UHNWIs held residential property abroad as compared to 28% globally. Interestingly, the top favoured countries for home purchase for Indian super rich in 2022 were UK (47%), UAE (41%), USA (29%) and Canada (18%). As many as 21% of Indian UHNIs considered making commercial property investments, and slightly higher than the global average. <cmsannotation type="cmsannotation" annotationid="Bags, not classic cars" comment="subhead2" text="Bags, not classic cars">Bags, not classic cars</cmsannotation> Most UHNIs allocate most of their wealth into equity markets — at 34%. Next comes direct commercial property (17%), bond market (16%) and private equity (10%). Art, watches and luxury handbags were the top three investments of passion for Indians. Globally, art, classic cars and jewelry were the top three. <cmsannotation type="cmsannotation" annotationid="Capital appreciation vs preservation" comment="subhead2" text="Capital appreciation vs preservation">Capital appreciation vs preservation</cmsannotation> In 2023, 31% UHNIs said that capital appreciation was their biggest goal for wealth, while 25% said that their biggest goal was capital preservation. Income generation (25%) and diversification(14%) were the next biggest goals. Also, one-third of the respondents said that they want to expand property holdings while 29% said that they want to deleverage. When it came to the safest asset class, residential property was considered the safest, followed by gold, bonds, commercial property and equity markets. Cryptocurrencies were considered as the most volatile asset. The report also revealed that 77% UHNIs feel that environmental considerations impact their investment decision to some extent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-completes-acquisition-of-citibanks-consumer-business-heres-everything-to-know/articleshow/98337170.cms">Axis Bank completes acquisition of Citibank’s consumer business for ₹11,603 crore – here’s everything to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/this-is-how-big-your-1-million-home-would-be-in-top-cities/slidelist/98335765.cms">This is how big your $1 million home would be in top cities</a>

You Searched For "axis capital" and got 11 results

Ventive Hospitality files papers with Sebi to raise Rs 2,000-cr via IPO

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Cryogenic tank maker Inox India files draft papers with Sebi for IPO

PTI

Bain Capital-backed Emcure Pharma to float ₹1,952-crore IPO on July 3

PTI

Sensex, Nifty scale fresh record high levels on robust FII inflows

PTI

Sensex, Nifty scale fresh peaks as inflation cools off; Heavy buying in capital goods aids indices

PTI

GDP growth will moderate to 6.5% in FY25 on global headwinds: Axis Bank

PTI

New fund alert: 'Axis India Manufacturing Fund'

Anagh Pal

Swiggy is now valued more than Zomato

Dearton Thomas Hector

Venture capital invested a record $30 billion in crypto in 2021, more than quadruple previous high

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SME lending startup BharatPe raises ₹50 crore in debt from Northern Arc Capital

IANS

India's super-rich gear up for a better year ahead: Knight Frank

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