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In addition, a regulatory clampdown by China on its technology firms is spurring some foreign investors to turn to the world’s second-most populous nation instead, analysts said.
The fundraising boom in India by companies, ranging from an e-commerce platform to a food delivery app operator, comes even as country’s economic rebound, already weakened in recent months, faces risk from coronavirus variants.
In private equity capital deals, which include placements and pre-IPO funding rounds, $22 billion has been raised so far this year, according to Pitchbook data, putting India on track to exceed 2020’s record of $37 billion.
Of the amount raised in 2021, foreigners invested $13.21 billion in the first half of this year – the most ever – compared with $4.99 billion in the same period last year, separate Refinitiv data showed.
India snares $22 bln in private fund raisings - Pitchbook China clampdown spurs some investors to turn to India - analysts 2021 India IPO pipeline includes $2.2 bln float by Paytm Zomato, Swiggy, Flipkart buoy capital raisings this month
HONG KONG, July 30 (Reuters) - Cash-laden investors are set to step up the hunt for Indian firms, mainly tech start-ups, likely to benefit in the post-pandemic world, after pumping in a record $30 billion via public and private equity deals this year, bankers and analysts said.
Eyeing India’s large middle class with access to cheap smartphones and the internet, global investors have flocked to online platforms in the country and helped swell the ranks of unicorns, or start-ups valued at $1 billion or above.
by Tyler Durden
Wednesday, Jul 28, 2021 - 09:44 PM
Almost two years ago, before the world s central banks coordinated to inject tens of trillions of liquidity into the financial system under the pretext of fighting a virus, we said that Masa Son s Japanese bizarro conglomerate SoftBank will one day be the bubble era s Short of the Century, and we still stand by this suggestion. And stories like this is why.
Late this afternoon, Uber stock took a 5% tumble and nobody knew why - there was no news that sparked the dump.
Only later did we learn what caused the sale: according to CNBC, SoftBank sold a third of its stake in Uber in a block sale to cover losses on its investment in Chinese ride-hailing company Didi, which earlier this week plunged as much as 50% from its recent IPO price of $14. Sources said that SoftBank was selling 45 million shares, which will have a 30-day lockup, at a price of $44.15 to $46.14 each, using Goldman as agent.
Paytm IPO: Founder Vijay Shekhar Sharma to have protective rightsÂ
The proposal is unlikely to be contested as all other existing investors including Jack Maâs Alibaba and affiliates that own more than 30 per cent of the company agree on it Paytm IPO expected to launch in Oct BusinessToday.In
Updated Jul 28, 2021, 8:51 AM IST
Founder Vijay Shekhar Sharma will have protective rights once Paytm is listed on the bourses. Sharma will be able to appoint one member to its board as long as he owns 2.5 per cent equity, as mentioned in a customary regulatory filing ahead of the payments giantâs initial public offering.
Paytm founder to have protective rights after listing
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Paytm founder Vijay Shekhar Sharma
Vijay Shekhar Sharma, chief executive officer of Paytm, will have ‘protective rights’ to appoint one member to its board as long as he owns 2.5% equity in the company he founded, a customary regulatory filing ahead of the digital payment platform’s
upcoming initial public offering (IPO) showed.
This gives the founder sufficient buffer since he currently owns more than 9% of Paytm. These rights have been included in the new shareholding agreement (SHA) signed between Sharma and Paytm last month. As part of the new SHA, Sharma agreed to be no longer classified as the company’s ‘promoter group’.