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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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Shrikant Madhav Vaidya takes over as Chairman of Indian Oil Corporation
He succeeds Sanjiv Singh, who retired on June 30. IOC in a statement said Vaidya will also be the chairman of Chennai Petroleum Corporation Ltd, a stand-alone refining subsidiary of IOC, and Indian Oiltanking Ltd, a joint venture providing terminalling services. Read More
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Fabindia Appoints Former IndiGo President Aditya Ghosh to its Board.
"Fabindia believes the post-Covid period will bring about transformational change in consumer behaviour and brands with purpose, sustainability initiatives, and earth-friendly commerce will become increasingly important...as we evolve towards a new normal, we are excited to have Aditya on board helping with strategy and growth," the company said. Read More
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JP Morgan & Chase Appoints Three New MD's
Global investment bank JPMorgan Chase has appointed three new managing directors elevating existing executives. The appointment demonstrates the bank’s growing focus on India presence. Read More
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Ruchi Soya Appoints Sanjeev Asthana as CEO
Ruchi Soya Industries, which is owned by Baba Ramdev-led Patanjali Ayurveda, has appointed Sanjeev Asthana as its CEO. He has previously served with several large organisations such as State Trading Corporation of India, Britannia, ITC, Cargill, and Reliance Retail. Read More
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IBBI Proposes to Limit No. of Assignments Handled by Insolvency Professionals
The Insolvency and Bankruptcy Board of India (IBBI) has proposed to limit the number of corporate insolvency cases a single insolvency professional (IP) is permitted to handle at any given time. Currently, there is no limit on the number of assignments an IP is permitted to take; however the code of conduct requires IPs to not accept assignments if they will not be able to devote adequate time to them. Read More
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SEBI Shortlists 6 Entities for Implementation of Custom-Made Governance Policy
SEBI plans to prepare policy documents, standard operating procedures (SOPs) and other information technology (IT) documents through consultations as it has certain policy documents in place which might require variations as per the industry best practices. In February, the market watchdog had invited expressions of interest (EoI) from agencies for consultation for IT Policy Preparation, Risk Assessment and SOP Documentation at SEBI. Read More
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Cos & E-Commerce Players need to Display ‘Country of Origin’ on Products
Consumer Affairs Minister Ram Vilas Paswan recently said state governments have been directed to strictly enforce the provision that requires companies and e-commerce players to display the ‘country of origin’ on all products. The provision of declaration of ‘country of origin’ has been in place since January 2018 for all manufacturers, importers, packers and e-commerce players. The commerce Ministry has now been asked to ensure that e-commerce players too comply with this rule strictly, he said. Read More
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Panel Proposes New Regulator for Citizens' Non-Personal Data: Report
India should set up a data regulator and require companies to disclose how they collect and store data devoid of personal details or which has been anonymised, a panel tasked to draw up such regulations has said in a draft report seen by Reuters. As India moves to tighten policies on its citizens’ data held and processed by companies such as Facebook, Google and Amazon, it set up the panel last year to make recommendations on the regulation of “non-personal data”. Read More
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Effective due diligence is a critical step for any successful merger, acquisition or investment deal. A detailed and accurate due diligence helps in identifying and analysing the opportunity and the risk involved in any transaction. It also helps in strengthening negotiating position by gaining more information about the position, composition and structure of the target company.
This due diligence masterclass will equip you with expertise to investigate and analyse the financial, legal, taxation, commercial and HR aspects of a company to acquire, merge or invest in. You will get practical know how which you can put into practice to enable your organisation achieve intended business goals. At this prestigious knowledge session, you would hear and interact with the industry’s best experts and learn from their varied experiences and the case studies of successful deals they have done across the industry.
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Tata Sons Withheld Info on its Public Deposits: Mistry
Former Tata Sons chairman Cyrus Mistry has accused Tata Sons and its board of directors of withholding “material information" from courts and shareholders about Tata Sons’ controversial move to change into a private company after he was sacked in 2016. Read More
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All About Mistry’s ‘Commercial Ambition’, Ratan Tata Tells SC
Ratan Tata has appealed to the Supreme Court to reject Cyrus Mistry’s petition. Tata claimed that it was all about Mistry’s ‘commercial ambition’. He also said that the legal battle was about Mistry’s dismissal as the director of Tata Sons and “not the rights of minority shareholders.” Read More
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Apple Market Cap closes in on Saudi Aramco's as No. 1 in World
Apple gained as much as 4.2% on Monday for a market capitalization above 1.70 trillion USD, trailing Saudi Aramco at about 1.78 trillion USD based on current exchange rates. In March, the gap between the two market values was more than 500 billion USD. Apple has rallied 32% this year on broad optimism about its businesses. Read More
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Alibaba's Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%
Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.4%, cashing out around $9.6 billion at its current share price, the firm's annual filing released on Friday showed. The divestment comes as Ma retired as the Chinese e-commerce company's executive chairman in September and pulled back from formal business roles to focus on philanthropy. Read More
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Cognizant’s India Chief Ramkumar Ramamoorthy Resigns
“Ramkumar... has decided to retire from Cognizant, effective July 17, 2020,” CEO Brian Humphries said in a note to employees. The technology major has also replaced its head of global delivery Pradeep Shilige with Andy Stafford who has spent nearly two decades with Accenture. Read More
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Rift among Jaypee Promoters? Sunny Gaur Resigns from Board
Sunny Gaur, son of Jaiprakash Associates (JAL) founder and part of the promoter group, has resigned as a director of the beleaguered company to venture out on his own, amid suggestions of differences over the way the group has collapsed with his brother, Manoj Gaur, at the helm. Read More
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Shoppers Stop Managing Director & Chief Executive Officer Rajiv Suri Resigns Citing Personal Reasons
Shoppers Stop recently announced the resignation of its MD and CEO Rajiv Suri effective 25 August, nearly 2 years after his appointment. “Shoppers Stop has reported that Rajiv Suri has tendered his resignation for personal reasons to pursue a career in a company outside India," the retailer said. It has not named an immediate successor. Read More
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Another Top Executive Leaves HDFC Bank, But Don’t Try Finding the News in the Media
In the true tradition of recent senior-level departures at HDFC Bank, the bank’s highly visible and active communications department did not bother to inform stakeholders or even its own staff. Instead it was left to an anonymous source to tweet that Munish Mittal’s last date was July 10, 2020, as was the case for one of his deputies in the department. Read More
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