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Capital is essential for any business function, be it product innovation, business expansion or building a strong team. Besides traditional funding sources, Private Equity and Venture Capital are the most important sources for companies with high growth potential. PE & VC not just help businesses to scale up but also empower them with strategy and provide them mentorship to deal with the critical phases. What matters for every company is the right investment at the right time to make them big and successful and the examples are Flipkart, Paytm, Ola, Swiggy, and many other new age companies.
Over the years, India has emerged as a promising investment destination for PE/VC funds. But funds are also very cautious in making qualitative decisions. In fact, sustainable and scalable business models are becoming a priority.
Given the current COVID-19 Crisis, it is important to understand the emerging issues across business sectors and its impact on PE/VC deals. ET Masterclass’s upcoming workshop will equip delegates decode key takeaways from Government’s measures and their impact on commercial transactions; how potential sellers should ready themselves to handle M&A in these times to raise funds to set up or expand their companies, Exit planning and process including potential routes.
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Mukesh Ambanis’ stake in RIL at 12-year high after rights issue
Mumbai: Billionaire Mukesh Ambani has increased his stake in Reliance Industries to a 12-year high of 49.14% after the conclusion of the firm’s mega rights issue recently. Ambani and other members of the promoter family committed to invest ₹28,286 crore and subscribed to 225 million shares in the ₹53,124 crore issue. Read More
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SBI Knocks on NCLT's Doors to Recover Rs 1,200 Cr from Anil Ambani
State Bank of India has filed an application in the National Company Law Tribunal (NCLT) to recover more than Rs 1,200 crore from Anil Ambani under the personal guarantee clause of the bankruptcy law. Anil Ambani had given personal guarantee to the loans given to Reliance Communications and Reliance Infratel. Read More
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SEBI Relaxes Compliance Requirements for Performance Benchmarking of AIFs
As part of efforts to streamline disclosure standards, the regulator in February put in place mandatory performance benchmarking of AIFs. "In light of market events due to the COVID-19 pandemic, the timeline for making available the first industry benchmark and AIF level performance versus benchmark reports, is extended till October 1, 2020," Sebi said in a circular. Read More
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Yes Bank gets BSE, NSE Approval For Re-Classification of Promoter Shareholding
Private sector lender Yes Bank on Friday said it has received approval of leading bourses BSE and National Stock Exchange for re-classification of the promoter shareholding. Part of shareholding classified as "promoter shareholding" now stands at zero. The bank first informed the bourses during the day, saying Sebi has admitted its application for the de-classification of its founding promoters Rana Kapoor and Madhu Kapur families and firms linked to them. Read More
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Billionaire Kotak Hardest Hit by India’s Plan to Cap CEO Tenures
RBI has proposed a 10-year limit on bank founders remaining in the roles of CEO or full-time director, according to a discussion paper on corporate governance released on Thursday. The restricted tenure will ensure “separation of ownership from management but also reinforce a culture of professional management,” the paper said. Read More
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Cyrus Mistry Questions Tata Group Performance
Cyrus Mistry, who was unceremoniously removed as the chairman of Tata Sons alleging non-performance, in an affidavit to the Supreme Court on Friday said the Tata Group had an adjusted net loss of Rs 13,000 crore in 2019 — the worst losses in three decades. Read More
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Evaluate & Manage your Business Risks with a Risk Diagnostic Tool
Did you know that as per the insurance regulator, IRDA, the total insured business losses in India have grown by almost 100% in 4 years, from Rs 55,000 cr. in 2015 to over Rs 1,00,000 cr. in 2019? These losses have typically been caused due to the risks faced by businesses. What’s important to note is that the business entities that suffered these losses had duly covered their risks with the appropriate insurance program. How did they do this? How can you, as a decision maker in your firm, be sure that you understand your risks and have your risk cover in place? Read More
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Hexaware Board Approves Appointment of ICICI Securities as Merchant Banker for De-listing
IT firm Hexaware on Friday said its board has approved the appointment of ICICI Securities as merchant banker for delisting of the company from stock exchanges. Earlier this month, Hexaware promoter firm HT Global IT Solutions Holdings had expressed its intention to voluntarily de-list Hexaware's shares from Indian Bourses. Read More
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OYO Beefs Up its Board; Second Board Appointment this year is a Former FBI Consultant
Indian hospitality unicorn OYO has announced the 8th addition to its board of directors. The company has brought on board Dr W. Steve Albrecht, an industry veteran for audit and corporate governance. Albrecht is the former president of the American Accounting Association. Read More
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Independent directors' fees to attract GST.
The finance ministry clarified that employees, who are also on the board of companies, will not face GST if they were paid "salaries", according to the company's books of accounts, on which tax was deducted and deposited with the income tax authorities. Read More
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Govt Allows Start-Ups to issue Sweat Equity for 10 years after Registration
The Ministry of Corporate Affairs (MCA) has amended the Companies (Share Capital and Debentures) Rules, 2014, to allow start-ups to issue sweat equity shares not exceeding 50 per cent of its paid-up capital. Read More
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India: ESG Practices: The Way Forward?
More companies have become sensitive to ESG in an attempt to have favourable rankings, gain a competitive advantage, reduce operational costs, minimize regulatory interventions, and thereby boost top-line growth.3 Further, having sound ESG policies can help predict and mitigate non-financial risks. ESG has also become a crucial part of M&A transactions. In the pre-transaction phase, the process of selection of targets and partners now involves scrutiny of these factors including a thorough due diligence on ESG policies. Read More
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Proposed Auditor Regulation Reforms In India: An Analysis
An important proposal for auditor reforms has been mooted by the Ministry of Corporate Affairs (MCA). The MCA has released consultation paper in February, 2020 highlighting the proposed changes in the audit practices. The consultation paper largely aims at revamping the practice of simultaneously carrying an audit and non-audit business by the large firms. The need to regulate the 'Big 4' (Deloitte, EY, KPMG, and PwC) accountancy firms are specifically noted. Read More
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