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Tesla firms up plans for Rs. 2.4 lakh crore investments to set up base in India

Inc42 · 1y ago

Tesla firms up plans for Rs. 2.4 lakh crore investments to set up base in India

Tesla is reportedly considering a $30 billion investment in India over the next five years, as it actively explores entering the Indian market. The funds would be primarily used for establishing a manufacturing facility, battery ecosystem, and other related industries. The company is in talks with the Indian government and is considering locations in Haryana, Tamil Nadu, Maharashtra, and Gujarat for the potential factory. Tesla aims to build the factory within three years and launch its first car in two years. The move is part of Tesla's diversification plan to shift production from China.

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Physics Wallah eyes offline expansion in 2024 with 100 physical centres

Economic Times

Economic Times · 1y ago

Physics Wallah eyes offline expansion in 2024 with 100 physical centres

Edtech unicorn Physics Wallah plans to expand its offline presence to 100 centers in 2024, up from 64. Co-founder Prateek Maheshwari stated that the expansion will be funded from the Rs 100-crore corpus allocated for two years starting January 2023. Physics Wallah aims to reach 2.4 lakh students, up from 1.4 lakh in the previous year. The company is set to enter Tamil Nadu through a partnership with Xylem Learning in 2024. Physics Wallah is also developing Alakh AI, a language-agnostic generative AI study companion, set to launch in February 2024.

Equity fund inflows fall 16% to Rs 18,917 crore in April, SIP book tops Rs 20,000 crore for first time

Money Control

Money Control · 1y ago

Equity fund inflows fall 16% to Rs 18,917 crore in April, SIP book tops Rs 20,000 crore for first time

Equity mutual fund inflows in India dipped by 16% to Rs 18,917.08 crore in April, compared to the previous month. Large-cap funds experienced a decrease in investments, while small-cap funds showed an increase after a brief outflow in March. However, the systematic investment plans (SIPs) reached a record high of Rs 20,371 crore, surpassing the Rs 20,000 crore mark for the first time. Overall, the mutual fund industry rebounded strongly, with net inflows totaling Rs 2.39 lakh crore. Debt funds also experienced a recovery, with net investments of Rs 1.90 lakh crore.

Warburg Pincus-backed Avanse Financial files draft papers for Rs 3,500 Cr IPO

YourStory

YourStory · 1y ago

Warburg Pincus-backed Avanse Financial files draft papers for Rs 3,500 Cr IPO

Avanse Financial Services, an education-focused non-banking financial company (NBFC), plans to raise Rs 3,500 crore through an initial public offering (IPO). The funds will be used to increase the company's capital base. The IPO includes a fresh issue of equity shares worth up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 2,500 crore by existing shareholders. Avanse Financial Services is the second-largest education-focused NBFC in India, offering education loans to students and financing for educational institutions. The IPO is being managed by multiple financial firms including Kotak Mahindra Capital and J.P. Morgan.

IPV Plans to Invest Rs 150-200 Crore in Start-Ups This Year; Exits 14 Firms With 61% Return

OutlookIndia

OutlookIndia · 1y ago

IPV Plans to Invest Rs 150-200 Crore in Start-Ups This Year; Exits 14 Firms With 61% Return

Angel investment platform Inflection Point Ventures (IPV) is set to invest around Rs 150-200 crore in startups in 2024. IPV has already made investments of approximately Rs 750 crore out of its Rs 1,200 crore fund. The platform has achieved an average internal rate of return (IRR) of 61% from its partial and full exits from 14 firms in 2023. IPV has made a total of 56 investments, including 46 new investments and 10 follow-on investments. The company plans to continue investing in high-potential startups, especially in drone, sports, health, and fintech sectors.

Sanjiv Goenka reveals global expansion plans of RPSG

Money Control

Money Control · 10m ago

Sanjiv Goenka reveals global expansion plans of RPSG

Sanjiv Goenka, the business leader behind RPSG FIRSOURCE, has announced plans to expand globally, with operations being set up in Australia. Goenka is focusing on generative AI and remains optimistic about the group's market capitalisation crossing Rs 2 lakh-crore.

RBI's balance sheet increases 8.2% to Rs 76.25 lakh crore in FY25 - BusinessToday

Business Today

Business Today · 2m ago

RBI's balance sheet increases 8.2% to Rs 76.25 lakh crore in FY25 - BusinessToday

The Reserve Bank of India's balance sheet expanded by 8.20% to Rs 76.25 lakh crore for FY25, resulting in a Rs 2.69 lakh crore dividend to the government. The increase was driven by gold holdings, domestic, and foreign investments. Income rose by 22.77%, while expenditure grew 7.76%, ending with a Rs 2.69 lakh crore surplus, up 27.37%. Domestic and foreign assets accounted for 25.73% and 74.27% of total assets, respectively.

FY25 fiscal deficit on track: Touches 100.5% of revised target at Rs 15.77 lakh crore

Business Today

Business Today · 2m ago

FY25 fiscal deficit on track: Touches 100.5% of revised target at Rs 15.77 lakh crore

The fiscal deficit for FY25 reached Rs 15.77 lakh crore, achieving 100.5% of the revised target. Government expenditure was Rs 46.56 lakh crore, 98.7% of the fiscal year's budget target. Revenues totalled Rs 30.36 lakh crore, with Rs 24.99 lakh crore from taxes and Rs 5.38 lakh crore from non-tax sources. The fiscal deficit target for FY26 is set at 4.4%.

Alpha Wave, Carlyle, Nxtra Data, Statkraft India, and Capgemini in news

VCCircle

VCCircle · 4m ago

Alpha Wave, Carlyle, Nxtra Data, Statkraft India, and Capgemini in news

Alpha Wave Global and DigitalBridge Group are vying to acquire Carlyle’s 24.04% stake in Nxtra Data, potentially valuing Bharti Airtel’s data centre arm at Rs 20,500 crore ($2.4 billion), according to The Economic Times. This strategic move highlights the growing interest in data infrastructure investments. Carlyle's involvement has significantly impacted Nxtra’s growth trajectory, and the ongoing negotiations underscore the competitive landscape within the data storage sector, attracting major investment firms.

UGRO Capital approves issuance of NCDs up to Rs 135 Cr

YourStory

YourStory · 1y ago

UGRO Capital approves issuance of NCDs up to Rs 135 Cr

U GRO Capital, a small business lending platform, has approved the issuance of up to 3,500 non-convertible debentures (NCDs) valued at Rs 1 lakh each. Additionally, the company has approved the issuance of up to 10,000 NCDs, valued at Rs 1 lakh each, aggregating to Rs 100 crore. The board has also approved the acquisition of financial services platform MyShubhLife for Rs 45 crore. U GRO Capital plans to use technology to provide innovative credit products to small-scale shopkeepers and distributors. The company also plans to raise Rs 1,332 crore in equity capital.

IPV to invest Rs 150-200 crore in startups this year; exits 14 firms with 61% return

Economic Times

Economic Times · 1y ago

IPV to invest Rs 150-200 crore in startups this year; exits 14 firms with 61% return

Angel investment platform Inflection Point Ventures is set to invest between Rs 150-200 crore in startups this year. The company has announced its exit from 14 firms in 2023, achieving an average 61% internal rate of return. So far, Inflection Point Ventures has made a total investment of around Rs 750 crore out of a Rs 1,200 crore fund. With a portfolio of approximately 200 companies, the firm plans to focus on sectors like drone technology, sports, health, and fintech for future investments.

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