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<keyword id="14545243" type="General" weightage="100" keywordseo="dhruva-capital" source="Orion">Dhruva Capital</keyword> stock has given 205 per cent returns in the last month. The stock which was trading at Rs 7.54 on June 22 jumped by 205 per cent in a month to close at Rs 22.96 on July 22. At least 23 penny stocks have given returns up to 205 per cent in the last month, <keyword id="1090459" type="General" weightage="80" keywordseo="good-returns" source="Orion">Good Returns</keyword> reported. These stocks priced up to over Rs. 20 have offered multibagger returns i.e. has more than doubled investors money. Response gained 203 per cent in a month and closed at Rs 47.7 compared to Rs 15.73 a month back. Similarly, Sonal Adhesives gained 202 per cent in a month from Rs 16 to Rs 48.3. VCU Data also gained 202 per cent from Rs 21.6 to Rs 65.15. Haria Apparels was another multi bagger as it gained 193.85 per cent jumping to Rs 5.26 from Rs 1.79. Kore foods also gained more than 193 per cent to close at Rs 6.42 on July 22 as compared to Rs 2.19 a month back. DSJ Keep also jumped more than 193 per cent in a month to close at Rs 4.22 compared to Rs 1.44 a month back. Sturdy Industries gained 142.5 per cent from 40 paisa to 97 paisa. <keyword id="14545245" type="General" weightage="80" keywordseo="regency-ceramic" source="Orion">Regency Ceramic</keyword> was up 160 per cent from Rs 3.04 to Rs 7.91. Integra Garments was up by 149.75 per cent from Rs 1.99 to Rs 4.97 per cent. Ventura Textiles gained 118 per cent in a month to close at Rs 8.4 compared to Rs 3.85, Good Returns reported. ABC Gas jumped 187 per cent from Rs 13.2 to Rs 37.9 in a month, High Street gained 184 per cent from Rs 20.15 to Rs 57.15, Deep Diamond gained 147 per cent from Rs 17.1 to Rs 42.15 to become multibaggers in July. Among the other multi baggers in the penny stocks, Leading Leasing closed at Rs 120.45 from Rs 51.1 a month ago to gain 136 per cent, KLK Industries closed at Rs 76.9 compared to Rs 33.1, a jump of 132 per cent, Panth Infinity closed at Rs 46.05 from Rs 20.37, a jump of 126 per cent. PC Jeweller closed at 54.6 as compared to Rs 24.55 last month with a gain of 122 per cent, <keyword id="14545246" type="General" weightage="80" keywordseo="galactico-corporate" source="Orion">Galactico Corporate</keyword> closed at Rs 70.85 up from Rs 32.8, a gina of 116 per cent, <keyword id="14545248" type="General" weightage="80" keywordseo="shanti-educational" source="Orion">Shanti Educational</keyword> closed at Rs 116 compared to Rs 55.08 with a jump of 111 per cent, <keyword id="14545244" type="General" weightage="80" keywordseo="tirupati-tyres" source="Orion">Tirupati Tyres</keyword> closed at Rs 16.57 up from Rs 7.8 with a gain of 112 per cent. <keyword id="14545247" type="General" weightage="80" keywordseo="yarn-syndica" source="Orion">Yarn Syndica</keyword> closed at Rs 12.49 up from Rs 6.11, a gain of 104 per cent and Stanpacks closed at Rs 15.36 up from Rs 7.52 with a gain of 104 per cent, Good Returns reported. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/how-to-calculate-income-tax-on-stock-market-earnings/articleshow/93055335.cms">How to calculate income tax on stock market earnings</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-reports-a-46-increase-in-profit-in-q1-fy23-fueled-by-its-oil-business-strongest-quarter-ever/articleshow/93059317.cms">Reliance reports a 46% increase in profit in Q1 FY23, fueled by its oil business’ strongest quarter ever</a>

Multi bagger Dhruva Capital gains 205% in a month

<ul><li><keyword id="12246464" type="General" weightage="20" keywordseo="geospoc" source="Orion">GeoSpoc</keyword> is part of UNICEF’s Innovation Fund Investments in Skills and Connectivity.</li><li>The company was founded seven years ago, and counts Starbucks and SBI as its clients.</li><li>GeoSpoc’s CEO Dhruva Rajan, along with his team of Geospatial scientists and engineers, will be joining <keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> post this acquisition.</li></ul>Initial public offering (IPO)-bound Ola has acquired geo-analytics company GeoSpoc in order to further arm its ride hailing services with better technology. GeoSpoc was founded by Dhruva Rajan, Geetha Krishna and Krishna Rajan in 2014. The company offers location-based solutions, services and products to verticals to companies across several vertices. It’s clients include Starbucks, Swiggy, Asian Paints, State Bank of India and others. GeoSpoc is part of<a href="https://www.unicef.org/innovation/innovation-fund-geospoc-geospatial"> UNICEF’s Innovation Fund Investments</a> in Skills and Connectivity. Ola’s cofounder and chief executive officer (CEO) Bhavish Aggarwal announced this acquisition in a<a href="https://blog.olacabs.com/ola-acquires-geospoc/"> blogpost</a>. He mentioned that GeoSpoc’s CEO Dhruva Rajan, along with his team of Geospatial scientists and engineers, will be joining Ola to develop technologies which will “make mobility universally accessible, sustainable, personalised, and convenient, across shared and personal vehicles.” Aggarwal further added that enhanced geo-spactial services will also prove to be beneficial in improving urban planning, including road network, better public transportation and pre-empt congestion spots. “Ola has the data and the expertise to build this utilizing its 'deep understanding of consumer movements as well as our massive network of 2,3 and 4Ws that provide unprecedented geo-spatial details'. We can layer this data with new sources such as satellite imagery and visual feeds from our network on-ground to build ‘Living Maps’ that embody the changing landscape of our world,” Aggarwal added. Ola was founded by Aggarwal and Ankit Bhati in 2010. The company has its presence across three continents and is said to be valued at around $6 billion. The Bengaluru-based ride hailing giant — which competes with $86 billion-worth Uber — has raised more than $4 billion to date from marquee investors like SoftBank, Tencent, Steadview Capital, Eternal, Sailing Capital, China Eurasian Economic Cooperation Fund and others. Ola raised <a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms">half a billion dollars in July</a>, as a part of its IPO round. SEE ALSO <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-earnings-may-excite-the-street-thanks-to-the-14-new-deals-in-last-three-months/articleshow/86773292.cms">TCS earnings may excite the street thanks to the 14 new deals in last three months</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-instagram-and-facebook-are-down/articleshow/86759457.cms">Facebook shareholders lost nearly $50 billion in the 9 hours that the social network, WhatsApp and Instagram were down</a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-srei-infra-ongc-airtel-and-other-stocks-to-watch-out-for-as-markets-tumble-across-the-world/slidelist/86771522.cms">HDFC Bank, SREI Infra, ONGC, Airtel and other stocks to watch out for as markets tumble across the world</a>

Ola has bought a geo-spatial startup ahead of its IPO

<ul><li><keyword id="5961836" type="General" weightage="20" keywordseo="bellatrix-aerospace" source="Orion">Bellatrix Aerospace</keyword> has raised $8 million in a round led by Inflexor Venture LLP and BASF Venture Capital GmbH.</li><li>The company plans to use this funding to start expanding commercial operations their operations by the end of 2022.</li><li>It will be launching space taxis and expanding its propulsion systems for commercial use.</li></ul>Spacetech startup <keyword id="2578058" type="General" weightage="20" keywordseo="bellatrix" source="Orion">Bellatrix</keyword> Aerospace is raising $8 million in a round led by Inflexor Venture and BASF Venture Capital GmbH, the corporate venture company of the German multinational chemical company BASF SE. StartupXseed, Pavestone Capital, Mankind Pharma family office, Survam Partners and Karsemven Fund also participated in this Series A round, along with other prominent family offices and angel investors. Bellatrix was founded in 2015 by Rohan M Ganapathy and Yashas Karanam — is in the business of manufacturing satellite launch vehicles and propulsion systems. It co-exists with other spacetech companies like Agnikul, Dhruva Space and Pixxel. <cmsannotation type="cmsannotation" annotationid="Space taxis as a B2B offering" comment="subhead" text="Space taxis as a B2B offering">Space taxis as a B2B offering</cmsannotation> The company plans to use this funding to expand its commercialization efforts by the end of 2022 with the launch of space taxis, Bellatrix’s chief executive officer Rohan M Ganapathy told Business Insider. “The technologies being developed for use in space have the potential to offer many opportunities for the chemical industry, for example in new materials and for innovative application cases of chemistry on earth and in orbit. In India in particular, this industry is currently experiencing an unprecedented upturn," said Markus Solibieda, MD of BASF Venture Capital GmbH. Space taxis would be a business-to-business offering, which will allow the company to launch multiple micro-satellites into space on behalf of its clients using one Orbital Transfer Vehicle. <cmsannotation type="cmsannotation" annotationid="Size does matter" comment="subhead" text="Size does matter">Size does matter</cmsannotation> Ganapathy explained that the size of satellites have been reducing, while the size of rockets or space launch vehicles has remained consistent. Launching small satellites on this big rocket is expensive and it underutilizes the space available. This has brought opportunities for several big spacetech companies to develop small launch vehicles, but it is again an expensive process. “It is again like a chartered flight, it is still expensive,” he noted. “What we want to do is, look at the underutilized capacity of the larger rocket, whose launch frequency is expected to increase. We want to ensure that our OTV [Orbital Transfer Vehicle] can make ridesharing on such launches cost efficient, precise and quicker,” he said. <cmsannotation type="cmsannotation" annotationid="Many satellites, one rocket" comment="subhead" text="Many satellites, one rocket">Many satellites, one rocket</cmsannotation> Space Taxi will utilize the additional capacity of the bigger rocket and carry many passengers [satellites] who want to go to multiple different orbits,” Ganapathy, founder, CTO and CEO of Bellatrix explained. The initial version of the Space Taxi, called the Pushpak, can carry satellites up to 600 kg. “We see the space industry is growing exponentially, and Bellatrix’s products will play a major part in democratizing access to the space industry with their cost-effective and power-efficient thruster systems, ideal for small satellite manufacturers,” said Venkat Vallabhaneni, managing partner at Inflexor Ventures. The company also tested a green propulsion system last month. Spacecraft propulsion is any method used to accelerate spacecraft and artificial satellites. The company plans to hire 40 more employees across both technology and business verticals, Karanam added. While the company will be looking to hire tech talent from India, the business talent would be hired all across the globe. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/mukesh-ambanis-jio-lags-behind-airtel-which-is-the-top-telecom-brand-in-india/articleshow/91935279.cms">Mukesh Ambani's Jio lags behind Airtel which is the top telecom brand in India</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/foreign-inventors-hit-a-record-with-selloffs-in-may-and-they-will-keep-exiting-say-experts/articleshow/91934731.cms">Foreign investors are as spooked as they were in the first month of lockdown in India</a> <a href="http://www.businessinsider.in/business/corporates/news/zomato-paytm-nykaa-and-others-spent-6000-crore-on-their-employees-last-year/articleshow/91931970.cms" data-type="tilCustomLink">Zomato, Paytm, Nykaa and others spent ₹6,000 crore on their employees last year</a>

This startup which makes satellite launches cheaper and faster raises funds to start commercial operations

<ul><li>The <keyword id="996979" type="PERSON" weightage="20" keywordseo="retrospective-tax">retrospective tax</keyword> was introduced by late former president Pranab Mukherjee in 2012.</li><li>It enabled the government to tax profits from earlier years even though they were not taxable at the time.</li><li>The bill is yet to pass in the parliament, nonetheless, it has brought some cheer among industry and taxation experts.</li></ul>The government of India has decided to withdraw the controversial retrospective tax, which was first introduced by the late former president Pranab Mukherjee (the then Finance minister) nine years ago, in 2012. The amendment to the Income Tax act enabled the Indian government to impose tax on any capital gains resulting from the transfer of shares from a foreign entity, whose assets were located in India. In other words, the government could tax profits from earlier years — back to 1962 — even though they were not taxable at the time. The policy impacted companies like UK-based Cairn Energy and telecom giant <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword>. India’s Finance Minister Nirmala Sitharaman introduced ‘<a href="https://www.businessinsider.in/policy/news/cairn-energy-tax-dispute-new-bill-to-remove-retrospective-taxation-that-hit-vodafone/articleshow/85071357.cms">The Taxation Law (Amendment) Bill, 2021 </a>in Lok Sabha on Thursday, August 5. It also said that the government would refund the money collected to enforce such levies. The bill is yet to pass in the parliament. Nonetheless it seems to have brought some cheer among industry and taxation experts. Retrospective Tax Law To Go, Refunds Possible For Cairn, Vodafone - kudos to <keyword id="6360789" type="UNKNOWN" weightage="20" keywordseo="Modi-government">Modi Government</keyword> for repealing this contentious law that was Pranab Mukherjee’s folly. — Kiran Mazumdar-Shaw, founder and chairperson of Biocon Limited The IT Act amendment to nullify the regressive retrospective tax law introduced in 2012 is a bold and hugely positive development. It goes a long way in enhancing our global credibility and predictability, making India even more friendlier to the global investment community. — Amitabh Kant, CEO of government think tank NITI Aayog It's something that all you taxpayers expect you to live with. No taxpayers are ever happy to be imposed a tax on this past activity. You have to do your tax payments every year, as you earn the income, as you make the sale. Nobody wants to be surprised — three, four, five years later— by some government officials, coming through a door and saying that you have to pay an extra tax on what you did five years ago. So there's no country in the world where Retrospective taxation is a principle that is to be encouraged. To my knowledge, if the only rare exception. countries adopt the policy of retrospective taxation. — Satya Poddar, Tax Policy Advisor at EY This is definitely something which will solve many things particularly some of the things. So to that extent it's really pragmatic. We obviously need to get into details of how it will pay out. But, on the outset this is a welcome move and I'm sure it will be appreciated around the world. This issue, as you know, on this indirect transfer has been a matter of debate that has taken place regarding India, all around the world. So I think this is something that could be seen as a step in the right direction. And certainly a very welcome move. — Rajeev Dimri, Head of Tax, KPMG This is indeed a very progressive step, undoing something which has been a sore point for investors but has not yielded anything to the government. — Dinesh Kanabar, CEO, Dhruva Advisors “Any existing demands are also proposed to be nullified subject to withdrawal of pending litigation and the taxpayer agreeing to forego interest, costs and damages. Refunds too shall be handed out without interest. This is indeed a very pragmatic step by the Government and should help it contain the withspread litigation in cases similar to <keyword id="11639229" type="UNKNOWN" weightage="20" keywordseo="vodafone-and-cairn">Vodafone and Cairn</keyword>. A worthy battle to lose. — Kumarmanglam Vijay, Partner, J Sagar Associates SEE ALSO <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

Taxation and industry experts cheer the potential withdrawal of retrospective tax

<ul><li>For entrepreneurs yearning to learn more <keyword id="137810" type="COMPANY" weightage="20" keywordseo="tie">TiE</keyword> Global 4.0 brings stories of several successful startups including Dhruva, Icertis, <keyword id="4394544" type="PERSON" weightage="20" keywordseo="Dream-11">Dream 11</keyword>, Snapdeal, Nykaa and many more to help new startups. </li><li>TiE Delhi NCR is back with the TiE Global Summit with the theme ‘Indian Startups, Global Footprints’. </li><li>Here are five key reasons why you should be going to TiE Global Summit 4.0 </li></ul>Indian startups are on the rise and today, there’s more opportunity available for them than ever before. However, despite the growing startup ecosystem, many businesses can’t sustain themselves as they face multiple challenges like funding, regulations as they expand etc. So, for entrepreneurs yearning to learn more TiE Global 4.0 brings stories of several successful startups including Dhruva, Icertis, Dream 11, Snapdeal, Nykaa and many more to help new startups. Here are five key reasons why you should be going to TiE Global Summit 4.0 1. Witness thought leaders and ace founders share their success mantras, trends and inspiring stories What could be better for a startup than being in the presence of industry leaders willing to raise the next batch of success stories? If you are an aspiring entrepreneur with a disruptive idea accompanied by iron-clad determination, then TGS4 is the perfect place for you. From expert views on the little things that matter to the overview of key industry trends, the conversations will be brimming with insightful anecdotes, expert views, strategic advice, and much more! Be a part of the event and witness some great stalwarts of the industry on the stage - <keyword id="6358887" type="PERSON" weightage="20" keywordseo="amitabh-kant">Amitabh Kant</keyword>, CEO, <keyword id="2665691" type="COMPANY" weightage="20" keywordseo="Niti-Aayog">NITI Aayog</keyword>, GOI; <keyword id="981" type="PERSON" weightage="20" keywordseo="Dia-Mirza">Dia Mirza</keyword> (Actress); Abhijit Bose, Head, Whatsapp India; Benny Chen, MD, BAce Capital; Harsh Jain, Co-Founder &amp; CEO, Dream11; <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword>, Co-Founder &amp; CEO, Snapdeal; amongst others. 2. High-calibre networking as well as business opportunities up for grabs The elite of the start-up ecosystem will converge for TGS4. Naturally, every moment there will be bursting with the opportunity to network, learn, and grow. In addition to mentorship and guidance, you will also get to connect with your potential investors, future business partners, or both! The event is a perfect mix of exposure to latest trends and networking with who’s who of the industry for everyone. 3. Chance to meet and greet TiE charter members over tea or coffee What if we told you that you can initiate meaningful interactions with successful entrepreneurs, engage in in-depth conversations with like-minded individuals, and attract new business opportunities all at the same place and at the same time? Well, we definitely are. Head to this exquisite start-up festival to have deep fireside discussions with various stakeholders of the global entrepreneurship. 4. Seamless onsite experiences for exhibitors, attendees, and delegates The event will present a win-win proposition for everyone – be it entrepreneurs, investors, or simply an enthusiastic spectator. The different zones at the event will cater to the equally diversified minds in the gathering. From start-up pitches and innovative ideas on display to conversations between industry veterans – the event will have something for everyone. 5. Experience the right mix of music, networking, and fun at the Gala Dinner because being at #TGS4 is always rewarding and fun! What’s a festival without revelry? Hop on the festive bandwagon as the pleasant evening will be made even more pleasurable with wine, dine, and music. There’s another reason which makes this edition of TGS stand out from not just its past editions but also the other start-up festivals in the world. This year, the organizers have gone a step further to display their commitment towards creating a sustainability-led start-up ecosystem. By rejecting the use of plastic and non-biodegradable decorative materials, TGS4 aims to leave a big impression and less carbon footprint by going the green way. (Disclaimer: Business Insider India is a digital media partner for the event)

Five reasons why entrepreneurs shouldn’t miss this year’s TiE Global Summit

To make it easier to do business in India and attract capital from abroad in the <a href="http://www.businessinsider.in/searchresult.cms?query=manufacturing+sector">manufacturing sector</a>, the government is planning a fresh overhaul of its overseas investment regime. 
 
This will be part of the government’s <a href="http://www.businessinsider.in/searchresult.cms?query=Make+in+India+">Make in India</a> programme and is expected to be targeted more at cutting the need for prior government approval and simplification of the overall policy rather than extending sectoral limits. 
 
A <a href="http://www.businessinsider.in/searchresult.cms?query=Finance+Ministry+">Finance Ministry</a> official said that the Foreign Direct Policy should be simple. “Why should proposals for Rs 5 crore or so wait for government clearance," he said. 
 The attempt is to simplify the policy to reduce delays. The official said the <keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword> policy should be short and concise and, except for a few sensitive sectors, barriers can be brought down for all the rest. 
 "FDI in certain important sectors continue to be restricted, requiring government approval... Growth in sectors such as <keyword id="6354241" type="COMPANY" weightage="60" keywordseo="Financial-Services">financial services</keyword> and <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> is restricted due to minimum capitalisation and lockin conditions. There is scope for further liberalising these conditions," said Punit Shah, partner, Dhruva Advisors. 
 
As part of this plan, the government could dust off an old proposal, based on globally prevalent practices, to link the policy with industrial codes. Foreign investors can just look at the codes and know the relevant FDI policy for it. 
 
Let’s read what has been done so far to attract investment in the country: 
1. The government has raised foreign investment limits in many sectors including defence and has even persuaded <a href="http://www.businessinsider.in/searchresult.cms?query=Parliament+">Parliament</a> to approve a higher 49% limit in insurance. It has also moved to a composite cap system where the limits include all forms of foreign investment without any sub-limits. 
2. The current policy allows up to 100% <a href="http://www.businessinsider.in/searchresult.cms?query=foreign+direct+investment+">foreign direct investment</a> (FDI) in many sectors such as telecom and pharma. 
3. It allows foreign direct investment (FDI) up to 74% in private banks and other sectors and 49% in some industries. 
4. However, no foreign investment is allowed in some sectors such as gambling, manufacture of cigarettes and atomic energy. 
 
It is important to note that India ranks 142 out of 189 economies in ease of doing business. FDI flows are up 31% in the first four months of the current fiscal at $9.5 billion. 
 
Meanwhile, government policymakers have said this will ensure an enabling environment for doing business in India. 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=Foreign+Investment+Promotion+Board+">Foreign Investment Promotion Board</a> has met every 25 days and final notification usually takes a few more weeks. This means the approval process can take as much as two months in the best-case scenario where a proposal is taken up and cleared in the first meeting. 
 
Many proposals take more than one meeting to be decided on. Meanwhile, it's now possible to file foreign investment proposals online. 
 
The FDI inflow under the approval route rose 87% in FY15 to $2.22 billion despite more sectors having been liberalised during this period. Also, more than 90% of FDI is via the automatic route. 
 
The department of industrial policy and promotion has opted for National Industrial Classification, 2008, replacing the NIC 1987 as part of the initiative to make doing business easy. 
 
(Image: Indiatimes)

Govt. to simplify policy norms to attract more FDI  in manufacturing

Ever imagined you can manage funding for your <a href="http://www.businessinsider.in/searchresult.cms?query=start+ups">start up</a> while trekking up the <a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">Himalayas</a> or <a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">fishing in a mountain-river</a>? Well, it seems to be a reality now. A quaint hillstation in <a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">Uttarakhand</a>, Ramgarh, best known for Tagore’s stint while writing his famous Gitanjali, has suddenly evoked interest among <a href="http://www.businessinsider.in/searchresult.cms?query=angel+investors">angel investors</a>. 
 
In an aim to establish a base, a dozen of high-profile angel investors are gradually setting up a base at <a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">Ramgarh</a>. Being off beat, this place is a bliss of solitude, where leisure tourists from all over the country frequent to watch birds and admire the snow-capped peaks of the <a href="http://www.businessinsider.in/searchresult.cms?query=Himalayas">Himalayas</a>. 
Pramod Bhasin, Raman Roy and Saurabh Srivastava, who are among the pioneers of business process outsourcing and IT industry in the country, have come together with some like-minded IT stalwarts including Sanjeev Bikhchandani of Info Edge, Ashish Dhawan, cofounder of ChrysCapital and Ashoka University; and, Pune Bhatia, <a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">country head at TPG Capital India</a>, to develop a private estate spread over 10 acres in the Kumaon hill town. 
 
Since most of them are active angel investors based in Delhi with a sizeable clutch of companies under their belt, some now want to make Ramgarh an adda for startups as it offers a relaxed environment to check out the tens of investment pitches they get every day. 
"Since we have started to go there more regularly, we could spend some time with these companies and afford to have long chats about their propositions - a rarity in Delhi," said Srivastava, who helped start tech firms like IIS Infotech, which was renamed Xansa and later acquired by Steria. 
 
Srivastava, who has invested in about 55 companies including Stayzilla and Dhruva, is also organising investor meets or startup investment sessions in Ramgarh apart from cultural events such as Sufi music festivals. The estate, which has just over a dozen or so cottages, is private, exclusive and structured in a manner that no one can sell out without the permission of the others. 
 
Spotted initially by Srivastava,<a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms"> Mohit Goyal</a>, cofounder of Indian Angel Network, and conservation and landscape architect Sujata Kohli, the land on a hillock was purchased seven years ago under a cooperative and it took almost five years to build. Kohli landscaped the entire hillock where there are no boundary walls between homes and all cottages have the same architecture. "We didn't want any Spanish or Greek villas therefore we have used local material so that the place merges with the surroundings," said Kohli who is now working on a water harvesting unit for the area to make it self-sufficient and is also an investor in the project. 
 
<a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">Vikas Srivastava</a>, a partner with Luthra &amp; Luthra law firm and a member of the group, said there is camaraderie within the group and they are taking every step to ensure that only likeminded people are there. 
 
"We are all part of the same ecosystem with aligned interests; mostly everyone is from the tech background and...entrepreneurship," said Bhasin. Their interest in malts, whisky and <a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">food</a> act as catalyst in promoting start ups and enjoying the leisure. 
 
<a href="http://www.businessinsider.in/A-look-at-the-picturesque-locations-of-Ramgarh-which-is-emerging-as-a-wannabe-startup-destination/articleshow/48773690.cms">Also Read: A look at the picturesque locations of Ramgarh, which is emerging as a wannabe startup destination</a>

You Searched For "dhruva capital" and got 7 results

Multi bagger Dhruva Capital gains 205% in a month

IANS

Ola has bought a geo-spatial startup ahead of its IPO

Kritti Bhalla

This startup which makes satellite launches cheaper and faster raises funds to start commercial operations

Kritti Bhalla

Taxation and industry experts cheer the potential withdrawal of retrospective tax

Kritti Bhalla

Five reasons why entrepreneurs shouldn’t miss this year’s TiE Global Summit

BI India Bureau

Govt. to simplify policy norms to attract more FDI in manufacturing

BI India Bureau

If you want a funding for your start up, visit Ramgarh in Uttarakhand! No, we’re not kidding

BI India Bureau

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