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Mutual funds ramp up stakes in new-age companies by 2-3X as PE/VCs head out

Money Control

Money Control · 2y ago

Mutual funds ramp up stakes in new-age companies by 2-3X as PE/VCs head out

Improvement in profitability and funding winter attract mutual funds to firms like Paytm, Zomato, Nykaa, PB Fintech, Delhivery. Experts say MFs might look to ramp up holdings further in these new-age stocks

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Local MFs hold stocks worth over $8 billion in new-age companies

Economic Times

Economic Times · 10m ago

Local MFs hold stocks worth over $8 billion in new-age companies

Domestic mutual funds in India have increased their investments in new-age companies, such as Zomato, Paytm, Nykaa, and Delhivery, with the total value of stocks now reaching over $8 billion. This is a significant rise from $2.7 billion a year ago. The increase in exposure is due to the rising valuations of these companies, several of which have recently gone public. Mutual funds are becoming an important investor class during pre-IPO rounds and are expected to further increase their holdings as venture capital investors sell their stakes.

Mutual Funds Increase Stake In Paytm In March Quarter, FII Holding Declines

Inc42 · 1y ago

Mutual Funds Increase Stake In Paytm In March Quarter, FII Holding Declines

Indian mutual funds have increased their stake in Paytm during the March quarter of FY24, amidst regulatory turmoil at the fintech company. Domestic mutual funds now hold a 6.15% stake, up from 4.99% in the previous quarter. Mirae Mutual Funds increased its shareholding to 3.76%. However, foreign institutional investors' stake in Paytm declined to 60.41% from 63.72%, with BNP Paribas Arbitrage and Societe Generale selling their stakes. Despite these challenges, Marshall Wallace and Morgan Stanley increased their stake in Paytm. Paytm's shares have dropped over 50% since the RBI's restrictions on Paytm Payments Bank.

Six Mutual Funds Fully Exit Paytm Stock, Six Reduce Stake Sharply In February

Inc42 · 1y ago

Six Mutual Funds Fully Exit Paytm Stock, Six Reduce Stake Sharply In February

Paytm, the Indian fintech company, is facing divestment by several mutual fund companies following regulatory interventions by the Reserve Bank of India (RBI). Six mutual funds have completely divested their holdings in Paytm in February, while six others significantly reduced their stakes. The divestment comes after the RBI barred Paytm Payments Bank from various banking services due to non-compliance issues. As a result, 18 mutual funds now hold Paytm shares worth INR 1,426 crore, down from INR 3,384 crore in January. The National Payments Corporation of India is expected to grant Paytm a third-party application provider license by March 15.

Chiratae Ventures gets $70 million via portfolio sale as VCs eye exits

Economic Times

Economic Times · 1y ago

Chiratae Ventures gets $70 million via portfolio sale as VCs eye exits

Chiratae Ventures, one of India's oldest venture capital firms, has reportedly sold stakes in some of its portfolio companies to Madison India Capital. The deal is estimated to have valued the stakes at around $70 million, including shares in companies like Lenskart. The sale involved companies from Chiratae's Fund-II and Fund-III. Madison India Capital is backed by Lexington Partners and has previously invested in companies like Pine Labs and Snapdeal. This transaction comes amid pressure from global limited partners for venture capital funds to show exits and returns.

How AMFI suggestions for Union Budget can help mutual fund investors

Money Control

Money Control · 1y ago

How AMFI suggestions for Union Budget can help mutual fund investors

Finance Minister Nirmala Sitharaman is set to announce the budget on July 23, 2024. The Association of Mutual Funds of India (AMFI) has recommended several key suggestions for the upcoming budget, including raising the Long Term Capital Gains (LTCG) threshold on listed shares and equity mutual funds to Rs 2 lakh, providing uniform tax treatment for pension-oriented mutual fund schemes, and offering taxation relief to fund of funds, gold funds, and overseas funds. AMFI has submitted a total of 13 proposals to the government regarding direct tax measures.

Domestic investors, mutual funds increase stake in Paytm

Economic Times

Economic Times · 1y ago

Domestic investors, mutual funds increase stake in Paytm

According to the latest shareholding pattern, domestic mutual funds have increased their stake in Paytm. Mirae Mutual Funds and Nippon Mutual Funds are among the funds that have increased their stake in the company. Domestic retail investors also increased their shareholding in Paytm, while SoftBank reduced its stake. The founder of Paytm, Vijay Shekhar Sharma, entered into an agreement with Ant Financial to buy a stake in the company. The cost of funds for fintechs and NBFCs is expected to go up due to new regulatory norms.

'As IPO exits surge, India catches up with China on PE returns'

Livemint

Livemint · 3d ago

'As IPO exits surge, India catches up with China on PE returns'

LGT Capital Partners has increased its investment in India, recognizing the country's improving private equity returns compared to China. The Indian IPO market has recently become a significant exit avenue, enhancing the pace of distributions for private equity players. LGT Capital's acknowledgment of India's market stability highlights its growing potential in delivering substantial returns, prompting global investors to ramp up their exposure in the region.

India's mutual fund assets cross $700 bn in May

VCCircle

VCCircle · 1y ago

India's mutual fund assets cross $700 bn in May

India's mutual fund industry experienced rapid growth in May, with assets reaching 58.6 trillion rupees ($701.90 billion), a record-breaking increase of almost 10 trillion rupees in less than a year. Equity mutual funds saw a month-on-month increase of 83% in inflows, with a preference for small- and mid-cap funds. The NSE Nifty 50 index has seen significant growth, up 55% over the past 39 months, thanks in part to mutual fund inflows. Additionally, systematic investment plans and sectoral and thematic funds also observed high inflows in May.

SEBI crackdown on Quant MF: What is front-running?

Livemint

Livemint · 1y ago

SEBI crackdown on Quant MF: What is front-running?

Market regulator SEBI conducted search operations at two premises of Quant Mutual Funds due to suspicions of front-running, a form of market manipulation. The operations took place at Quant's head office in Mumbai and Hyderabad. Front-running involves trading in a stock or financial instrument based on inside information about a future transaction that could affect its price. SEBI defines front-running as an unethical practice where brokers trade an equity based on information from the analysis department before their clients receive the same information. Quant Mutual Funds, with an AUM of over ₹90,000 crore, stated that it will cooperate with SEBI.

Could mutual funds see a new wave of investors? Maharashtra has paved the way.

Livemint

Livemint · 1m ago

Could mutual funds see a new wave of investors? Maharashtra has paved the way.

Maharashtra has allowed public charitable trusts to invest up to 50% of their capital in mutual funds and exchange-traded funds without prior approval. This move could unlock investable funds worth thousands of crores, potentially boosting the mutual fund industry and influencing similar reforms in other states. While offering better returns, trusts must act cautiously due to investment risks and possible tax implications under the Income Tax Act's Section 11(5) rules.

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