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US investment bank <a href="http://www.businessinsider.in/searchresult.cms?query=Goldman+Sachs+">Goldman Sachs</a> is going to invest $150 million (Rs 900 crore) for a minority stake in <keyword id="620925" type="PERSON" weightage="80" keywordseo="Piramal-Realty">Piramal Realty</keyword>, a <a href="http://www.businessinsider.in/searchresult.cms?query=real+estate+development+">real estate development</a> arm of the <keyword id="6400918" type="COMPANY" weightage="80" keywordseo="Piramal-group">Piramal Group</keyword>. 
 
The money generated will be used to expand Piramal Realty's current real estate portfolio and to buy properties in and around Mumbai, reported the Economic Times. 
 <keyword id="6361649" type="CITY" weightage="80" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> has helped develop some of the world's finest buildings, such as 15 Central Park West in <a href="http://www.businessinsider.in/searchresult.cms?query=New+York+">New York</a> and 16 Colleyers Quay in <a href="http://www.businessinsider.in/searchresult.cms?query=Singapore">Singapore</a>. It is one of the leading investors in real estate sector in the world. 
 “Its (Goldman Sachs) experience and expertise will further inspire us to build world-class developments in India and achieve the highest standards of design, technology, quality, execution and customer service," <keyword id="192487" type="PERSON" weightage="60" keywordseo="Anand-Piramal">Anand Piramal</keyword>, executive director at Piramal Group, said in a statement on Monday. 
 
The real estate firm will also launch a buy back guarantee scheme called 'Piramal Assurance' under which it will offer to buy back any residential unit from a customer at a 5% discount to the market value until possession should a buyer not be satisfied. 
 
"For most customers, buying a home is their single largest and most important investment. Our 'Assurance' will reduce the financial risk of purchase and provide peace of mind for customers, who will know that their <a href="http://www.businessinsider.in/searchresult.cms?query=investment+">investment</a> is safe and liquid," said Piramal. 
 Ankur Sahu, co-head of <keyword id="34499" type="POSITION" weightage="60" keywordseo="private-equity">private equity</keyword> at Goldman Sachs in Asia has confirmed the development, saying the bank is excited to work with the Piramal Group. 
 
"This investment is consistent with our ongoing strategy of partnering with India's leading entrepreneurs to invest in sectors critical to the country's development. The government's focus on simplifying regulation and boosting economic growth will kick start investment and consumption," Sahu said. 
 Last month, private equity giant <keyword id="6402698" type="COMPANY" weightage="80" keywordseo="Warburg-Pincus">Warburg Pincus</keyword> had picked up a minority stake in Piramal Realty for Rs 1,800 crore. 
 
(Image: Reuters)

Goldman Sachs to invest Rs 900 crore for a minority stake in Piramal Realty

Online auto classified platform <keyword id="1980082" type="PERSON" weightage="20" keywordseo="Cartrade">CarTrade</keyword> Tech on Friday said it has raised Rs 900 crore from anchor investors ahead of its initial public offering, which opens on Monday. The company has decided to allocate 55,59,664 equity shares to anchor investors at Rs 1,618 apiece, valuing the transaction size to Rs 899.55 crore, according to a circular uploaded on the BSE website. Nomura, HSBC Global, Goldman Sachs, Jupiter India Fund, Elara India Opportunities Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Axis Mutual Fund (MF), HDFC MF, Kotak MF and Sundaram MF are among the anchor investors. The initial share-sale will be entirely an offer for sale (<keyword id="883402" type="ORGANIZATION" weightage="20" keywordseo="OFS">OFS</keyword>) of 18,532,216 equity shares. Among the investors participating in the OFS are -- CMDB II (22.64 lakh equity shares), Highdell Investment Ltd (84.09 lakh shares), Macritchie Investments Pte Ltd (50.76 lakh shares), and <keyword id="11723135" type="UNKNOWN" weightage="20" keywordseo="springfield-venture-international">Springfield Venture International</keyword> (17.65 lakh shares). Currently, CMDB II holds 11.93 per cent stake in CarTrade, Highdell Investment owns 34.44 per cent stake, MacRitche Investment has 26.48 per cent shareholding, and Springfield Venture International holds 7.09 per cent stake in the company. The public issue, with a price band of Rs 1,585-1,618 a share, will open for subscription on August 9 and conclude on August 11. At the upper end of the price band, the <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> is expected to mobilise Rs 2,998.51 crore. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Founded in 2009, CarTrade is backed by marquee investors -- <keyword id="6402698" type="UNKNOWN" weightage="20" keywordseo="warburg-pincus">Warburg Pincus</keyword>, Temasek, JPMorgan and March Capital. The CarTrade platform allows customers to buy and sell used cars as well as new cars. The firm is a multi-channel auto platform with coverage and presence across vehicle types and value-added services through its brands -- CarWale, CarTrade, <keyword id="209119" type="COMPANY" weightage="20" keywordseo="Shriram-Automall">Shriram Automall</keyword>, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. The company's consumer platforms i.e. CarWale, CarTrade and BikeWale, collectively get 3.2 crore average unique visitors every month (during the three-month period ending March 31, 2021), and Shriram Automall and other auction platforms had 8,14,316 vehicles listed for auction during FY21. The company generates revenues from commission and fees from auctions and re-marketing services, online advertising solutions, lead generation, technology-based services to OEMs, dealers, banks and other financial institutions, and inspection and valuation services. Axis Capital, Citigroup Global Markets India, Kotak Mahindra Capital Company and <keyword id="6600258" type="UNKNOWN" weightage="20" keywordseo="Nomura-Financial-Advisory">Nomura Financial Advisory</keyword> and Securities (India) Private Limited are the investment bankers to the issue. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/krsnaa-diagnostics-ipo-open-today-check-out-how-to-apply/articleshow/85017014.cms">Krsnaa Diagnostics IPO opens—here is all you need to know</a> <a href="https://www.businessinsider.in/business/startups/news/these-are-some-of-the-highest-paid-founders-of-indian-startups-tapping-capital-markets-this-year/slidelist/85005261.cms">These are some of the highest paid founders of Indian startups tapping capital markets this year</a>

CarTrade raises ₹900 crore from anchor investors ahead of its IPO, issue opens on Monday

<ul><li>In India, out of 1.3 billion people, a third (more than 400 million) already had access to social media before the pandemic.</li><li>This number has surely skyrocketed in the last 18 months and there is a significant shift in consumer behaviour that is the real fuel for the growth of the segment.</li></ul>The <keyword id="2540701" type="General" weightage="20" keywordseo="influencer-marketing" source="Orion">influencer marketing</keyword> industry is undergoing a transformation triggered by the pandemic as well as the rise of brands wanting to connect with consumers directly. INCA, GroupM’s brand-safe influencer and content marketing solution unit today announced the release of The India Influencer Marketing Report. To be an annual highlight in the calendar, this industry report is the first ever to quantify the current and predict the future path of influencer marketing in India. The report looks at all aspects of the industry including trends and the impact of regulation. In India, out of 1.3 billion people, a third (more than 400 million) already had access to social media before the pandemic. This number has surely skyrocketed in the last 18 months and there is a significant shift in consumer behaviour that is the real fuel for the growth of the segment. Commenting on the report, <keyword id="232445" type="General" weightage="20" keywordseo="prasanth-kumar" source="Orion">Prasanth Kumar</keyword>, CEO – GroupM South Asia said, “Over the last few years, brands have shown significant interest in influencer marketing. The pandemic has accelerated the adoption of influencer marketing by brands making it an integral part of the brand marketing strategy and is now an important part of our media mix recommendation to brands. The key factor that has got brands interested is the bond of trust and authenticity that influencers share with their audiences, thus helping brands associate with an influencer to leverage the same. This report is our effort to help marketers understand various aspects of influencer marketing in the country. Consumer behaviour is changing at a fast pace, and we want to empower marketers with the knowledge that can help them.” According to the report, top 4 categories i.e., Personal care 25%, F&amp;B 20%, Fashion &amp; Jewellery 15% and Mobile and electronics 10%; contribute 70% volume of influencer marketing. On the influencer radar, celebrities contribute 27% while influencers contribute 73%. Nearly two-thirds of the Indian population follow an influencer. Brands can probably interpret that influencers and creative storytelling correlate with brand differentiation, a key advantage as attention spans get shorter. Ashwin Padmanabhan, President – Partnerships and Trading of GroupM India said, “Influencer marketing industry is at a point of inflexion and can take off, subject to the industry initiating to measure, quantify and make investments in influencer marketing accountable. The ‘India Influencer Marketing Report’ is GroupM and INCA’s attempt to do the same. Not only have we tried to quantify the industry, but we have also attempted to define and standardize the various formats and industry terms. We hope this report will catalyse the industry and ensure the power of influencers is harnessed effectively!”

Influencer marketing will be Rs 900 crore market in India by the end of 2021: Report

The highly anticipated sequel to the <keyword id="19940411" type="General" weightage="20" keywordseo="blockbuster" source="keywords">blockbuster</keyword> hit <keyword id="19986789" type="General" weightage="20" keywordseo="Pushpa" source="keywords" meta.keywordsubtype="org" meta.entityname="Pushpa" meta.hostid="261" meta.entityid="Pushpa">Pushpa</keyword>: The Rise, <keyword id="20035132" type="General" weightage="100" keywordseo="Pushpa-2" source="keywords">Pushpa 2</keyword>: The Rule, is set to take the box office by storm. With its pre-release business reportedly reaching a staggering Rs 900 crore according to News18, the film has already created history. Fans have been eagerly waiting for the second part of the film, and the excitement has been palpable. The movie's digital and satellite rights have been sold at a record-breaking deal of Rs 900 crore, making it one of the most lucrative film deals in <keyword id="20060213" type="General" weightage="20" keywordseo="Indian-cinema" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian cinema" meta.hostid="261" meta.entityid="Indian cinema">Indian cinema</keyword>. While the official OTT platform announcement is awaited, reports suggest that the theatrical rights have also been sold for a substantial sum of Rs 650 crore. Directed by <keyword id="20141226" type="General" weightage="20" keywordseo="Sukumar" source="keywords">Sukumar</keyword>, Pushpa 2 is a <keyword id="23594296" type="General" weightage="20" keywordseo="high-budget-film" source="keywords">high-budget film</keyword> with a star-studded cast, including <keyword id="19943690" type="General" weightage="20" keywordseo="Allu-Arjun" source="keywords">Allu Arjun</keyword>, <keyword id="19917047" type="General" weightage="20" keywordseo="Rashmika-Mandanna" source="keywords">Rashmika Mandanna</keyword>, <keyword id="20180296" type="General" weightage="20" keywordseo="Fahadh-Faasil" source="keywords">Fahadh Faasil</keyword>, and Sunil. The film's music is composed by Devi Sri Prasad, who, along with Allu Arjun, won the National Award for their work in Pushpa: The Rise. The sequel promises to be even more action-packed and thrilling than its predecessor. With a budget of Rs 500 crore, Pushpa 2 is one of the most expensive Indian films ever made. The filmmakers have spared no expense to create a visually stunning and immersive cinematic experience. Fans are eagerly awaiting the release of Pushpa 2: The Rule, and it is clear that the film is poised to become a massive commercial success. With its record-breaking pre-release business and the immense anticipation surrounding it, the movie is all set to redefine the <keyword id="20125529" type="General" weightage="20" keywordseo="action-drama" source="keywords">action drama</keyword> genre in Indian cinema.

Allu Arjun’s ‘Pushpa 2: The Rule’ breaks records with Rs 900 crore business even before release!

<keyword id="6354924" type="PERSON" weightage="100" keywordseo="Idea-Cellular">Idea Cellular</keyword>, the Indian mobile network operator based in Mumbai, might spend a whopping $1.3 billion (Rs 8,627 crore) to buy data spectrum in key Indian markets in the upcoming auction that is supposed to take place around July. On the other hand, <a href="http://www.businessinsider.in/Bharti-Airtel-fights-off-Idea-ties-up-with-Videocon-for-radio-frequencies/articleshow/51444310.cms" target="_BLANK￿￿￿￿">Bharti Airtel</a>, the leader in the market, might choose to buy selective 4G airwaves in the coveted 700 Mhz band in a few circles, as they are cheaper than the 900 Mhz spectrum. 
 
Analysts, however, expect that <a href="http://www.businessinsider.in/Mobile-number-portability-benefited-Idea-the-most-17-million-users-added-in-5-years/articleshow/51824691.cms" target="_BLANK￿￿￿￿">Idea</a> will cherry pick data spectrum in circles like Maharashtra, Kerala, Madhya Pradesh, UP-West, where it has seen sharp rises in incremental revenue <keyword id="34527" type="UNKNOWN" weightage="100" keywordseo="market-share">market share</keyword> (RMS) in the past year. 
 
<a href="http://www.businessinsider.in/Leadership-lessons-from-Bharti-Enterprises-Founder-ChairmanSunil-Bharti-Mittal/articleshow/51681498.cms" target="_BLANK￿￿￿￿">Sunil </a><a href="http://www.businessinsider.in/Leadership-lessons-from-Bharti-Enterprises-Founder-ChairmanSunil-Bharti-Mittal/articleshow/51681498.cms" target="_BLANK￿￿￿￿">Mittal</a>-led Bharti <a href="http://www.businessinsider.in/Airtel-buys-Videocons-spectrum-after-idea-ends-deal/articleshow/51439238.cms" target="_BLANK￿￿￿￿">Airtel</a> can choose to selectively add 700 MHz airwaves in markets where the liberalised 900 MHz 3G spectrum doesn’t already exist. "<keyword id="6354287" type="CITY" weightage="100" keywordseo="Bharti-Airtel">Bharti Airtel</keyword> may add 700 Mhz spectrum in a few markets where it is either priced at par or lower to 900 MHz spectrum as it could help the company address indoor data coverage issues, especially where it cannot use 900 MHz airwaves for 3G deployments," said brokerage HSBC. 
 
Also read: <a href="http://www.businessinsider.in/Let-Reliance-Jio-come-we-are-prepared-to-face-the-onslaught-says-Bharti-Airtels-Sunil-Mittal/articleshow/50087925.cms" target="_BLANK￿￿￿￿">Let Reliance Jio come, we are prepared to face the onslaught, says Bharti Airtel’s Sunil Mittal</a> 
 
As per the Telecom Commission, the approved base prices of 700 Mhz spectrum in UP-East, UP-West and Bihar are at Rs 459 crore, Rs 384 crore and Rs 248 crore, respectively. These figures are considerably less than the reserve price of 900 MHz spectrum in the same circles, which are at Rs 776 crore (UPEast), Rs 739 crore (UP-West) and Rs 444 crore (Bihar). 
 
Also read: <a href="http://www.businessinsider.in/Mobile-and-broadband-bills-to-drop/articleshow/51679751.cms" target="_BLANK￿￿￿￿">Your mobile phone and broadband bills are going to drop soon. Here’s how</a> 
 
<a href="http://www.dalaltimes.com/images/2016/jan-22/idea-cellular_1600.jpeg">Image source</a>

Idea might spend more than Rs 8600 crores in the July spectrum auction

Realty major <keyword id="6362997" type="CITY" weightage="100" keywordseo="DLF">DLF</keyword>'s total rental income will rise by 12 per cent to about Rs 2,900 crore this fiscal on better realisation from existing commercial assets and addition of new properties in Chennai and Delhi, according to a PTI news report. DLF, the country's largest real estate firm, earned a rental income of around Rs 2,600 crore last fiscal. The company informed analysts that total rental income will rise to Rs 2,900 crore in the 2017-18 fiscal. When contacted, DLF's Managing Director (Rental Buisness) Sriram <keyword id="900635" type="PERSON" weightage="20" keywordseo="Khattar">Khattar</keyword> said that the rentals will rise as the company has renewed its existing stock at a higher value after the expiry of 9-year leasing agreement with the occupiers. Moreover, he said, about one million sq ft area will gadded this fiscal in Chennai and the national capital. Given the quality of our office buildings and shopping malls as well as our focus on safety, compliance and sustainability, an overwhelming majority of our tenants renew their leases on term expiries at market rates," Khattar said. "In addition, about 8 lakh sq ft in Chennai and about 1.9 lakh sq ft in Chanakya Puri, Delhi will be the new assets that will add to the rental income," he said. In an analyst conference, DLF's group CFO Ashok Tyagi had said that the company's total income is expected at Rs 2,900 crore this fiscal. According to investors presentation, DLF's gross leasing stood at 4.03 million sq ft during the last fiscal. "Net leasing of 0.88 million sq ft post lease terminations/expiry of 3.15 msf during FY17." Unlike housing segment which is facing a huge slowdown in demand, the commercial real estate is doing well. In October 2015, DLF had announced that its promoters would sell their entire 40 per cent stake in <keyword id="2531590" type="COMPANY" weightage="20" keywordseo="DLF-Cyber-City-Developers-Ltd">DLF Cyber City Developers Ltd</keyword> (DCCDL), which holds the bulk of the commercial assets of the group. The promoters -- billionaire K P Singh and family -- had in March this year entered into an exclusivity pact with <keyword id="6357968" type="ORGANIZATION" weightage="20" keywordseo="GIC">GIC</keyword> for the deal, estimated at about Rs 13,000 crore. The promoters would invest a significant amount from this proposed transaction into <keyword id="102030" type="CITY" weightage="20" keywordseo="DLF-LTD">DLF Ltd</keyword>, which will use it for reduction of debt that has crossed Rs 25,000 crore. DLF expects an agreement with the GIC in the next few weeks and deal to be concluded by October this year after receiving regulatory and all other approvals. The company has about 30 million sq ft of commercial area and out of that, DCCDL holds about 22 million sq ft of commercial space.

DLF's total rental income to rise to Rs 2,900 crore this fiscal

<keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword> &amp; Special Economic Zone Ltd. has raised Rs 900 crore through allotment of <keyword id="6355663" type="UNKNOWN" weightage="20" keywordseo="non-convertible-debentures">non-convertible debentures</keyword> (NCD) on private placement basis. In a regulatory filing issued on Friday, the company said that the <keyword id="92012" type="CITY" weightage="20" keywordseo="NCDs">NCDs</keyword> will be listed on the Wholesale Debt Market segment of BSE Ltd. "The company has raised Rs 900 crore today by allotment of 9,000 Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each on private placement basis," the filing said. <keyword id="1697348" type="PERSON" weightage="20" keywordseo="Adani-Ports-and-Special-Economic-Zone">Adani Ports and Special Economic Zone</keyword> Ltd. (APSEZ) has presence across 10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

Adani Ports lands ₹900 crore through non-convertible debentures

Nine of the 10 most valued firms together added Rs 1.88 lakh crore in market valuation last week, with <keyword id="6357073" type="General" weightage="100" keywordseo="itc" source="Orion">ITC</keyword> emerging as the biggest gainer. The 30-share BSE benchmark Sensex jumped 1,510.98 points or 2.54 percent last week. Barring <keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited, rest nine firms including Tata Consultancy Services (<keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword>), <keyword id="6357149" type="General" weightage="80" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword> and ICICI Bank were the gainers from the top-10 list. The combined market valuation gain of the nine firms was at Rs 1,88,366.69 crore. The market valuation of ITC rallied Rs 43,321.81 crore to reach Rs 4,72,353.27 crore. Infosys added Rs 34,043.38 crore, taking its valuation to Rs 6,72,935.25 crore. ICICI Bank's market valuation jumped Rs 32,239.66 crore to Rs 6,02,749 crore and that of TCS zoomed Rs 26,143.92 crore to Rs 12,74,026.80 crore. The market capitalisation (mcap) of HDFC Bank advanced Rs 23,900.84 crore to Rs 9,25,188.45 crore and that of Bharti Airtel climbed Rs 10,432.23 crore to Rs 4,42,015.45 crore. The valuation of Hindustan Unilever went up by Rs 7,988.61 crore to Rs 6,21,678.35 crore and that of HDFC gained Rs 6,503.28 crore to Rs 4,92,313.07 crore. State Bank of India's mcap climbed Rs 3,792.96 crore to Rs 4,85,900.49 crore. However, the mcap of Reliance Industries declined by Rs 5,885.97 crore to Rs 15,75,715.14 crore. In the ranking of top-10 firms, Reliance Industries retained the title of the most valued domestic company, followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, HDFC, State Bank of India, ITC and Bharti Airtel.

Nine of top-10 firms add Rs 1.88 lakh cr in m-cap; ITC biggest gainer

<keyword id="20305504" type="General" weightage="20" keywordseo="Khelo-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Khelo India" meta.hostid="261" meta.entityid="Khelo India">Khelo India</keyword>, which is the government's flagship project to promote sports at the grassroots level, was once again the biggest beneficiary in the union <keyword id="19936553" type="General" weightage="100" keywordseo="budget" source="keywords">budget</keyword> for the <keyword id="19896478" type="General" weightage="20" keywordseo="sports-ministry" source="keywords">sports ministry</keyword> as it was assigned Rs 900 crore from the overall allocation of Rs 3,442.32 crore on Tuesday. Kehlo <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s share, announced in the budget presented by finance minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> here, is Rs 20 crore more than the revised allocation of Rs 880 crore during the previous financial year. With the <keyword id="19986816" type="General" weightage="20" keywordseo="Olympic" source="keywords">Olympic</keyword> cycle set to come to an end in Paris in August this year, and the <keyword id="19895708" type="General" weightage="20" keywordseo="Commonwealth-Games" source="keywords">Commonwealth Games</keyword> and <keyword id="20007738" type="General" weightage="20" keywordseo="Asian-Games" source="keywords">Asian Games</keyword> still two years away, the budget for the Sports Ministry has seen only a marginal increase of Rs 45.36 crore from the previous cycle. The budget for the previous cycle was Rs 3,396.96 crore for the previous financial year. The government has invested heavily in Khelo India over the years as the programme continues to unearth talent from all parts of the country. While Khelo India's actual allocation in 2022-23 stood at Rs 596.39 crore, it was increased by more than Rs 400 crore, to Rs 1,000 crores, in the 2023-24 budget, before being revised to Rs 880 crore. The government has continued to add programmes ever since the inaugural Khelo India Youth Games (KIYG) were held in 2018. The ministry added Khelo India University Games in 2020, before also launching the Khelo India Winter Games the same year and the Khelo India Para Games in 2023. Hundreds of Khelo India State Centres of Excellence (KISCE) have been set up across the country, which aim to provide facilities for athletes with potential. Several Khelo India athletes are currently in India's Olympic-bound contingent. The government's assistance to <keyword id="20418970" type="General" weightage="20" keywordseo="National-Sports-Federations" source="keywords" meta.keywordsubtype="org" meta.entityname="National Sports Federations" meta.hostid="261" meta.entityid="National Sports Federations">National Sports Federations</keyword> (NSFs) has also seen an increase of Rs 15 crore -- from Rs 325 crore in 2023-24 to Rs 340 crore in the latest budget. The budget for Sports Authority of India, which apart from maintaining its stadia across the country also manages the Target Olympic Podium Scheme (TOPS) to prepare athletes for the global sporting extravaganzas, has also been enhanced from Rs 795.77 crore to Rs 822.60 crore, which is a jump of Rs 26.83 crore. The <keyword id="20524251" type="General" weightage="20" keywordseo="National-Anti-Doping-Agency" source="keywords" meta.keywordsubtype="org" meta.entityname="National Anti-Doping Agency" meta.hostid="261" meta.entityid="National Anti-Doping Agency">National Anti-Doping Agency</keyword> (NADA) and the National Dope Testing Laboratory (NDTL), which does all the testing, have received marginal increase in their budgets. While NADA's budget has gone up from Rs 21.73 crore last year to Rs 22.30 crore, NDTL has got Rs 22 crore, up from Rs 19.50 last year.

Khelo India once again gets lion's share in Union Budget for sports

New Delhi, The government's 5.36 per cent share sale in Rail Vikas Nigam Ltd (<keyword id="240577" type="General" weightage="20" keywordseo="RVNL" source="Orion">RVNL</keyword>) was oversubscribed on the first day of issue with institutional buyers putting in bids worth about Rs 1,900 crore. In the two-day Offer-for-Sale (OFS), the government is selling 11.17 crore shares, representing 5.36 per cent stake at a floor price of Rs 119 apiece. The offer includes a greenshoe option of an additional 4.08 crore <keyword id="10985780" type="General" weightage="20" keywordseo="RVNL-shares" source="Orion">RVNL shares</keyword> or 1.96 per cent stake. On the first day of share sale, institutional buyers put in bids for 15.64 crore shares, as against the base issue size of 6.38 crore. At an indicative price of Rs 121.17 apiece, the bids are worth close to Rs 1,900 crore. Shares of RVNL closed at Rs 125.25, down 6.77 per cent over the previous close of the BSE. The government currently holds 78.20 per cent stake in RVNL. RVNL was incorporated in January 2003, as a 100 per cent owned public sector unit of the Ministry of Railways with the objective of raising extra-budgetary resources and implementation of projects relating to the creation and augmentation of capacity of rail infrastructure on a fast-track basis. So far in the current fiscal, the government has raised Rs 4,235 crore, including Rs 4,185 crore from share sale in Coal India. The full-year budget target from disinvestment is Rs 51,000 crore.

RVNL over-subscribed: Institutional buyers put bids worth Rs 1,900 crore

Mumbai, Feb 17 () City-based realty player Wadhwa Group has entered into an agreement with the Thakur Group to jointly develop a mix-use project on a two-acre land parcel in Kandivali in the megalopolis, a venture that has a revenue potential of Rs 900 crore.Both entities have entered into an area-sharing agreement whereby a part of the total 3.5 lakh sqft of developable area and the sales thereof would be handed over to the Thakur Group, once the project is completed. "We are always on the look-out for freehold land properties across the city for joint development opportunities as we believe in developing the projects as per our specifications. We will be responsible for the designing, construction and sales of this project," Wadhwa Group Managing Director Navin Makhija said. The project will have a developable area of 3.5 lakh sqft, and have a mix of residential and retail space, which will be completed in five years."Once completed, the project will generate revenues to the tune of Rs 900 crore," he added.As part of this development, the company has already invested Rs 48 crore as its equity contribution."Initially there will be equity infusion. Besides this, we will fund the project through the free cash flow generated from other projects along with project finance, which will soon finalise," Makhija added.The project, which is coming up in the densely populated residential locality Thakur Village, comprises of 372 units of 2 and 3 bed residences with carpet areas starting from around 680 sqft to 1130 sqft and prices beginning from Rs 2.5 crore onwards."We plan to have around two residential towers of around 39 storeys each with retail space," the official added. PSK MKJ

Wadhwa, Thakur Group to jointly develop mix-use project in Kandivali, Mumbai

Lucknow, Feb 18 () The Uttar Pradesh government in its Budget 2020-21, presented in the state Assembly on Tuesday, has laid emphasis on developing metro networks, airports and expressways, besides fixing a target to build four lakh houses for weaker sections by March 2021."A target of constructing 4 lakh houses for weaker sections has been fixed by March 2021. Metro rail service is available in Lucknow, Ghaziabad and Noida. Work of Regional Rapid Transit System from Delhi to Meerut is in progress. An arrangement of Rs 900 crore made for it," Finance Minister Suresh Kumar Khanna said in his budget speech.An arrangement of Rs 358 crore is proposed for Kanpur Metro Rail Project and Rs 286 crore proposed for Agra Metro Rail Project. Besides, there are proposals for Metro Rail projects in Gorakhpur and other cities and an arrangement of Rs 200 crore is proposed for the purpose.An arrangement of Rs 50 crore proposed for setting up Rashtriya Prerna Sthal in Lucknow, he said.In the budget, a provision of Rs 2,000 crore has been made for about 637 km long 'Ganga Expressway' from Meerut to Prayagraj, which will be the longest expressway of the country and Rs 2,000 crore for 'Noida International Greenfield Airport' at Jewar in Gautambuddh Nagar (Noida).The budget has also earmarked Rs 500 crore for Ayodhya Airport and Rs 92.5 crore for airports under the Regional Connectivity Scheme. ABN SMI MKJ

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