Mangesh Anaokar

Fiscal deficit for H1FY25 at Rs 4.75 lakh crore, 29.4 percent of the full-year target Experts indicate that the government may end up achieving a lower fiscal deficit ratio than the 4.9 percent target set in the Union Budget 2024-25, partially helped by a higher-than-expected RBI dividend of Rs 2.1 lakh crore. https://lnkd.in/dNrJQstN

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Was nice to share some thoughts with Akshata Gorde and Financial Express (India) on SEBIs new proposed fixed price mechanism as an alternative to reverse book building for voluntary delisting schemes. Read on to know more: https://lnkd.in/g25YCj_D #SEBI #delisting #law

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I’ve been turning down all media requests for a post election analysis but talk of whether alliances will hold post elections reminded me of something I wrote 26 years ago - before a Lok Sabha Election result.   The basic premise: one who holds 30 seats may have the same power, or even more, as compared to someone who holds 245 seats.   A mathematical Power Index explains how   Quote Let’s get on with the “Power Indices” of the various political parties.   Think of it this way : suppose you require a 50% plus majority to form a government and there are 3 parties in the parliament with the following seat tally : 44%, 39% and 17%.   Now, any two of these can join together to form the government and therefore all three of them have exactly equal power, no matter that Party 3 has got less than half the number of seats that the first two have. This is a concept that is of use in any ‘majority wins’ decision rule from shareholder resolutions to jury decisions.   Suppose there are 4 parties in the fray this time around: A, B, C and D parties, having 35%, 34%, 17% and 14% of the seats resp. Again if a simple majority is needed to form a government, any two out of A, B & C can form a government whereas the Party D’s support is never really crucial to anyone.   If this party’s 14% is added onto the percentages of any of the first three parties, the sum does not exceed 50% and any larger coalition of parties doesn’t require its support anyway. Party D is therefore called a ‘dummy’ - an apt term for someone whose vote can never change a losing coalition into a winning one or vice versa.   The dummy has no power, while all the other three parties i.e. A, B and C have equal power.   This is inspite of the fact that Party C has far fewer seats than A and B and only a few more than the smallest one i.e. Party D   For those interested, there is a technical concept called the Banzhaf Power Index (BPI) of a group, party or person which is defined as the number of ways in which that group, party or person can change a losing coalition into a winning one or vice versa.   In the preceding example, the BPI of parties A, B and C are equal and that of Party D is zero.    In fact as an individual MP, you are better-off being a part of Party C than Party A or B because as part of the government you get a disproportionate share of the goodies. This is exactly what happened in U.P. where virtually every MLA of a marginal party who joined the BJP government was made a minister - something that was a remote dream for most BJP MLAs.   Unquote (First Global's weekly 'Markets, Majorities and Maths', January 1998)   Thus if a few smaller partners can hold whichever coalition government to ransom, it introduces uncertainty.   “The more things change, the more they stay the same” Hence, I can repeat a 1998 piece which has contemporary parallels   We may be in for some interesting times.   History also shows coalition governments have been pretty good for the economy and markets.

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🚨 So we in 🇮🇳 have been boasting about our affordable healthcare for a while ... well, brace yourselves coz the PE sharks have smelled the blood in the water. 🦈💸 From #KKR gobbling up oncology chains like #HCG to whispers of #UnitedHealth setting up shop, it's clear that the big players are eyeing our market. Now, while the govt's healthcare system is buckling under the load, private clinics and hospitals are finding it tougher to stay afloat. 🏥💔 And there are the insurance companies - playing their own game of foul play.... But there's more!!!! The new Insurance Bill opened the floodgates for 100% FDI. So, as aam aadmi - expect a surge in private healthcare costs. 💸💸 But atleast we'll have more options, right? The insurance sector is set for a major overhaul. With new regulations and incentives, policyholders might see better coverage options, but at what cost?!?! 👉 Healthcare funding has dropped by a staggering 94.52% in November 2024. This means less money for public healthcare, pushing more people towards private options!!! The healthcare game is changing, and it's time to play smart. 🧠💡 #HealthcareHustle #InsuranceInsanity #IndiaHealthcare #FDI #PrivateEquity

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FDI Inflows: A Glimpse Total FDI inflows in the country in the FY24 stands steady at USD 71 Bn of which FDI equity inflows stands at USD 44 Bn (62%). FDI inflows for FY23 and FY22 were USD 71 Bn and USD 84 Bn respectively. FY22 was the highest ever. Mauritius (25%), Singapore (24%), USA (10%), Netherlands (7%) and Japan (6%) emerge as top 5 countries for FDI inflows for FY24. UK, UAE, Cayman Islands, Germany and Cyprus majorly comprises the rest. Top 5 States receiving highest FDI Equity Inflow during FY24 are Maharashtra (30%), Karnataka (22%), Gujarat (17%), Delhi (14%), and Tamil Nadu (5%). FDI will continue to play a major role in accelerated development of emerging economies. Attractive returns, the India story and investor confidence through appropriate rules, regulations and corporate governance measures remain key drivers for growth of FDI.   Source: RBI data and investindia.gov.in

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Gm, A landslide victory by the NDA in Maharashtra would be a good tonic that the market wants at the current level. This is a thumbs-up 👍 from the people of Maharashtra for progressive development. This will enable the government to accelerate the fast-track process for all infrastructure-related development across all major states. This, plus the revival in rural India, would help the economy bounce back 📈 in the second half. We have seen the market reacting adversely 📉 in the last two months due to weaker second-quarter earnings and also on account of heavy FII selling. To some extent, the correction in the market is also healthy as it removes froth 🧼 to some extent. Going forward, we believe the intensity of FII selling should reduce, and we should see an economic revival as well. Notwithstanding geopolitical tensions, the Indian economy would remain resilient. A bottom-up stock selection approach would be the mantra.

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Holy Grail of Asset Management Companies are returns and governance. Any miss on either of them creates an outflow of capital.. which can break the AMC... Case in point in India... Quant MF and Franklin Templeton MF... Very recently papers reported that a big PMS firm in India is facing redemption pressure more for returns issue... In US, Franklin Templeton reported outflows of $37 Billion in last quarter due to governance lapse on derivative trades #sec #amc #markets

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India/SE Asia-focused private markets fund manager Everstone Group adds to their executive ranks former Indian sovereign wealth entity National Investment and Infrastructure Fund (NIIF) Managing Director and CEO Sujoy Bose, who was also previously Global Head of Infrastructure and Natural Resources at leading Washington DC-based development finance institution IFC - International Finance Corporation. This is a significant move at a significant inflection point for Everstone Group who have been investing in India, SE Asia and the US as one of the few remaining early market movers since 2007 with strategies across #privateequity, #renewableenergy and #climate #infrastructure, #realestate, #logistics, and #growthcapital. While India fund returns to limited partners, especially on a US dollar basis, have had challenges pre-2014, Everstone Group India's more recent Fund III and Fund IV seem to be making commendable progress and I have heard praise from co-investors in #japan and #unitedstates for successful realized co-investments in India with Everstone Group. With India being one of the more sought out markets for private and public capital investors, it will be interesting to track Everstone Group's further realizations to LPs and fundraising plans. You should too! #alternativeassets #privatemarkets #india #singapore #seasia #fundmanagers #capitalmarkets #fundraising #japan https://lnkd.in/g3yXuWib

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A significant milestone on the Sarvagram journey and we are very excited to continue our support to the stellar team. When we invested in 2022, we saw a distinctive company which was serving an unaddressed segment in a very large market i.e middle class households in rural India. The narrative around rural financing has primarily focused on farmers and low-income populations. However, there's a huge gap in addressing the needs of the aspirational rural middle class—the 80-100 million households with annual incomes ranging from ₹3-5L, spread across multiple income sources. This demographic is eager to improve both their income levels and quality of life, yet their financial needs have often gone unmet. Banks and microfinance institutions have targeted agriculture or low-income women but the rural middle class is a large whitespace. Though they may have access to product financing like two-wheeler or car loans, a significant portion of their aspirations remains unaddressed. SarvaGram is stepping into this gap with a holistic, customer-centric platform that offers a diverse range of financial services—from lending products and farm mechanization solutions to insurance offerings — as opposed to a mono-line strategy, which we believe works better in denser urban markets. In addition to our thesis on rural lending, we have found working with the stellar team, led by Utpal Isser and Sameer Mishra, a collaborative and insightful partnership. Their exceptional execution and understanding of the rural market have enabled SarvaGram to create lasting impact and drive sustainable growth. It has been equally enjoyable to learn from their experiences and we truly appreciate the openness of team. We have also appreciated working with our co-passengers from #Elevar, #Elevation and #Temasek and look forward to the #Peak XV team. With this fundraise, SarvaGram is on track to continue its impressive growth trajectory and we are excited to be part of this journey of SarvaGram driving meaningful change for rural middle-class households. Utpal Isser SarvaGram Sreeraman V TVS Capital Funds #FundingSuccess #RuralIndia

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Today's Headlines from : *Economic Times* 📝 3,638 FDI proposals cleared in sensitive sectors since 2019 📝 NARCL ups offer for Jaiprakash Associates debt to Rs 12,000 crore 📝 Festivals take e-toll collections to a record ₹6,000 crore in October 📝 Railways switches to fast track for Kavach rollout 📝 India tops global diabetes list with 212 million cases in 2022: Lancet Study 📝 Nokia to roll out 3,300 new 4G sites by March for Vi expansion 📝 Morgan Stanley, 2 others pick 6.8 pc stake in PNB Housing Fin for Rs 1,664 crore 📝 Nalco Q2 Results: Profit rises multi-fold to Rs 1,046 crore; Rs 4 per share dividend announced 📝 NBCC Q2 Results: Profit jumps 53% to Rs 125.13 crore 📝 Kalpataru Projects International bags orders worth Rs 2,273 crore 📝 Ecommerce AI startup BiteSpeed raised USD 3.5 million 📝 SaaS startup Zeplyn raises $3 million from Leo Capital, others 📝 Space startup Firefly valued at over $2 billion in latest funding round *Business Standard* 📝 Brigade Enterprises Q2FY25 results: Reports 46% increase in sales value 📝 Marriott International, Samhi Hotels ink pact to open 3 properties in India 📝 India's Adani Group to invest $10 billion in US energy following Trump win 📝 Dilip Buildcon Q2 results: Net profit rises threefold to Rs 235 crore 📝 ONGC to soon open 5 wells in KG basin to boost gas, crude output in H2FY25 📝 NCLAT directs IL&FS to complete resolution of remaining firms by March 31 📝 ICAI to knock on MCA door against proposed audit standard revision 📝 India's outward FDI rises to $3.7 billion in October 2024: RBI data 📝 Mkt regulator Sebi mulls action for lapses in Artificial intelligence usage 📝 Festive season stabilises PV sales, 2Ws jump 14%; over 393K vehicles sold *Financial Express* 📝 Economists revise FY25 CPI inflation estimates to 4.7-5 per cent 📝 IN-SPACe taps DoT to cut spectrum price for Spacetech startups 📝 Eicher Motors Q2 profit rises 8 per cent to Rs 1,100 crore 📝 Power ministry readies interest subvention scheme for MSMEs 📝 Karnataka to organise venture capital connect with $17 billion investment potential 📝 IPO-bound NTPC Green plans to invest Rs 1 lakh crore by FY27 📝 Indebtedness of states expected to remain rangebound at 31-32% this fiscal, says CRISIL *Mint* 📝 US October inflation rises 2.6% YoY in first annual acceleration since March 📝 UN to come up with solutions to support countries cope with extreme heat 📝 BII, Norfund, IndiGrid form $300 million business for battery storage 📝 AstraZeneca Q2 net profit declines 10%, revenue up 31% 📝 Torrent Power Q2 Results: Net profit falls 8.6% YoY to ₹496 crore 📝 RBI retains SBI, HDFC, ICICI as India's too-big-to-fail banks 📝 Prosus offers to invest $100 million in Mintifi Finserve at unicorn valuation

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How is the strong revival of Leveraged Buyouts (LBOs) impacting the syndicated finance market? US LBO transaction volume stood at $125.7 billion in YTD Sep'24, roughly on a par with YTD Sep'23 as per PitchBook's latest report. 1️⃣ Yields: A meaningful revival of LBO activity is predicated on the expected path of interest rates and falling funding costs. ➡️ On average, private equity (PE) sponsors funded LBO deals at a yield of 9.4% in 3Q 2024 comparing favorably to the lofty highs of 10.9% in 2023. 2️⃣ Leverage: Secondly, higher equity contributions despite higher debt funding costs are keeping a lid on leverage multiples of new issues, at 5.1x on average in YTD Sep'24. ➡️ By comparison, in 2022, ahead of accelerating interest rate hikes, leverage multiples were as high as 5.9x. 3️⃣ Better-rated credits are finding placement in the syndicated finance markets in higher numbers now. ➡️ YTD Sep'24, 27% of issuance came from B-minus rated companies. Though higher than in 2023, when just 5% were B-minus rated, in 2022, and 2021, the B-minus shares were 68% and 56%, respectively. ➡️ This is in part a function of higher rates, where high leverage is less feasible, and where interest coverage capacity is squeezed. 4️⃣ Interest coverage: As the benchmark rate remained in a 5.25%-5.50% range until Sept. 18, interest coverage this year fell to just 2.3x, a record low. ➡️ By comparison, interest coverage in 2021, pre rate hike cycle, was at a high of 3.5x. 5️⃣ Private Credit competition: In the changing landscape of syndicated LBO financing, 90% of transactions have been for $1 billion or more. ➡️ In the pre-rate hike year of 2021, 74% of transactions were for $1 billion or more. ➡️ This trend reflects how smaller and riskier deals have migrated to private credit than in the quarters prior to the rate hikes. Going forward, markets are expecting M&A and LBO activity to accelerate as risk appetite improves. Krishank Parekh | LinkedIn | LinkedIn Guide to Creating

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🌟 India’s Real Estate Boom: A Game-Changer for Allied Sectors! 🌟 Congratulations to Aditya Joshi and the team at Brookfield Asset Management for the successful sale of IndoStar Home Finance Private Limited to EQT Group 🚀 This achievement underscores a broader reality. India’s real estate and housing finance sectors are booming, with every allied sector from housing finance to construction—minting money 💰 and driving India's economic engine. 📈 Take, for example, the recent Bajaj Housing Finance Limited IPO as beautifully posted by Manish Kejriwal, a testament to the unprecedented investor interest in the sector. But it’s not just about housing finance. As housing demand hits new highs, especially in fast-growing hubs like Gurugram, we’re witnessing significant growth across the entire ecosystem—real estate investors, cement, steel, construction companies, and more. 🔹 $1 trillion of annual investments in the housing sector 🏘️ is expected by 2030, with cities like Gurugram leading the charge.   🔹 The cement industry alone is seeing a surge, with consumption crossing 300 million tons, fueled by new housing and infrastructure.   🔹 Companies like ours, ProperT, have thrived by aligning with this momentum, with upcoming marquee real estate projects valued at over Rs 2000 crores and ongoing construction worth 1000 crores. At SSVG and Millennium Engineers, we’ve fast-tracked the acquisition of construction projects  🏗️ valued at over 1000 crores from marquee clients. This growth, alongside the demand for housing finance, is creating a robust cycle where every segment is flourishing. As Keki Mistry, Vice Chairman of HDFC Limited, has rightly said: _"India's housing sector is on the brink of a massive transformation."_   Indeed, we’re witnessing not just a boom in housing but a multiplier effect across industries supporting this growth.  #RealEstate #HousingBoom #Gurugram #Finance #Construction #ProperT #SSVG #MillenniumEngineers #EconomicGrowth

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Advent International is investing INR 2475 cr (~$3bn) in Apollo Hospitals's subsidiary, Apollo HealthCo. The transaction will also see the merger of its wholesale pharma distribution unit Keimed Private Limited and online healthcare business Apollo 24|7 under Apollo HealthCo. The background: Apollo HealthCo= Keimed (B2B pharma distribution) + Apollo 24 7 (online pharma) Apollo HealthCo, the digital health and services business of Apollo Hospitals, has been pressuring the hospital operator's bottom line, hurt by its cash-guzzling pharmacy business Apollo 24/7. Apollo HealthCo posted a loss for the sixth straight quarter in February. Advent International is a global PE with 17 investments (~$5.8bn since 2009) in India (12 current, 5 exits). Its other Indian healthcare investments include Cohance Lifesciences, Suven Pharmaceuticals and Bharat Serums and Vaccines Limited. Is it a good deal? The market doesn't think so! Shares of Apollo Hospitals Enterprise dropped 8% in opening trade on Apr 29 as investors were disappointed with the valuations offered in the deal. According to the deal, it valued Apollo 24 7 at $1.7bn and Keimed at $9.6bn Nuvama Group said while the deal was long overdue, the valuation commanded by Apollo 24/7 at $1.7 bn is lower than the estimated $2.7 bn. It not only comes as a negative surprise but also a huge letdown. The brokerage also said doubling Keimed's valuation for the deal, just within a year also seemed aggressive. Jefferies also shared the same view on Apollo 24 7's valuation While Prabhudas Lilladher Private Limited also acknowledged that the stake sale of Apollo HealthCo was done at a discounted valuation, it sees the merger of Keimed with the arm as a positive step as it removes overhang of any cost leakages. That with the added management guidance of growing EBITDA gives them comfort Future Outlook: According to the management commentary, the combined entity is expected to deliver Rs 25,000 ($3bn) crore of revenue in 3 yrs with 7-8% EBITDA, up from around Rs 13,600 crore and 1.5% now. This is an EBITDA growth of about 9x in 3 years! This growth will be achieved through Apollo 24/7 breakeven in ~2 years, higher margin realization through supply chain efficiencies, and accelerated growth in the private label business Though pharmacies in India are growing at 12% YoY, Apollo believes that large players like themselves can easily grow at 20-25% YoY It seems that Apollo was a bit desperate to inject in money and was okay with taking a slightly below-par deal. That said, this deal should reduce the drag from 24/7's operating cost (and cash burn) and strengthen both its pharmacy and hospital businesses. The merged entity could also leverage Keimed’s over 70,000 store network to push private label sales and unlock synergies. #healthcare #apollo #advent #privateequity #india #apollo247 #pharma #pharmacy

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With Q2 GDP growth sharply lower than expected, the critical question is whether this is a temporary brake or we need to brace for slower growth ahead. Sharing my views on this

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Exciting News in Healthcare Investment! KKR's recent acquisition of Healthium Medtech for Rs 7,000 crore from Apax highlights the growing opportunities in India's healthcare sector. Here's why this move is significant and key reasons for increasing investor appetite: 📈 Growth Drivers: India's #healthcare market is witnessing robust growth, fueled by rising middle-class incomes, demographic shifts, and increasing insurance penetration. 🏥 Infrastructure Development: Despite significant progress, India still faces a healthcare infrastructure gap (1.3 hospital beds per 1,000 population), presenting lucrative investment opportunities in infrastructure development and capacity enhancement. 🌐 Market Expansion: The demand for healthcare services is not limited to urban areas. Tier 2 and Tier 3 cities are emerging as key growth markets, driven by technological advancements and rising per-capita income. 💼 Investment Appeal: With the sector's pivotal role in India's socio-economic development, global positioning and increased focus on meeting targets under #SDG3, healthcare investments are increasingly attractive to both domestic and global investors. To summarize, while demographic driven growth will continue to attract investors in healthcare sector. Looking ahead, key trend will be adoption of #AI and #technology by way of offering advancements that improve diagnostics, breakthrough treatments, increased use of wearable devices and remote monitoring. However, challenges related to data management, cybersecurity, and equitable access must be addressed to maximize the benefits of technology in healthcare. What are your thoughts on this trend? Let's discuss in the comments below!

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Bull market is in a full swing in India. After one day of election outcome related sharp correction, market has surprised everyone with one way up move. Sensex @ 80000 and with strong past returns, return expectations are also on the rise. Market has not left any theme/sector untouched as each sector has seen some upmove on some narrative or the other. India has a long way to go and I remain long term optimist but valuations are through the roof is a reality in near term. Conventional valuations parameters like PE ratio or marketcap to GDP are widely tracked but some of the other variables which help in tracking market froth are also flashing amber now. For eg Sensex Mcap to Indian's overall Mcap ratio is at all time low. Another indicator which I call implied return of the market which is the gap between sell side consensus target price and current market price of 500 major stocks tracked by Indian sell side is showing "0%" average 12 month implied return (SMID cap average implied return fell into negative category!). May be analysts and strategists will raise TPs after the run up in prices (nothing unusual in that) but the fact is that this bull market remain relentless. To demonstrate current market situation in the form of a song, I have adapted an old famous song from the movie "Dil hain ke maanta nahi" As usual just for fun purpose.. Here it's is... Bull hai ke manta nahin Bull hai ke manta nahin Mushkil badi hai rasme security analysis Yeh value concept jaanta hi nahin Oh, bull hai ke manta nahin Bull hai ke manta nahin Traders ko beqaraari kyoon ho rahi hai Yeh jaanta hi nahin Ho bull hai ke manta nahin Fair value concept yeh manta nahin Bull to yeh chaahe har pal market mein hum Bas new highs dekha kare Price aur value ek dusre se judaa ho Aao kuch aisa kare Fads mein sama jaa, aa paas aa jaa First time investor mere, hamnasheen Bull hai ke manta nahin Price value gap jaise cheez yeh manta nahin *Now, 20 year old market wizard (pun intended)* Hum to trading karte hai jamke Humko hai sab breakouts ki khabar Tanha hamara mushkil hota jeena Tum jo na milte weekends par Betaab saanse.. bechain aankhe Kahne lagi nine fifteen (9.15 am) Bull hain ke manta nahi Market can be cyclical yeh pehchanta nahi *Market to new age investors* Teri vafaaye teri mohabbat Bahut kuch hai mere liye Tune diya hai FD wala funds mujhko Returns to hai tere liye Par yeh baat sach hai market cyclical hain Tumko nahi yeh yakeen, kyunki Bull hai ke manta nahin Historical valuations yeh manta nahin Mushkil badi hai rasme investing Yeh jaanta hi nahin Ho bull hai ke manta nahin PEG ratio ke alawa kuch pehchanta nahi 🙏

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India | Hospitals FDI/M&A | 2023: The significant uptick in 2023 was led by Temasek's increase of its stake in Manipal Health from 18% to 59%, and Blackstone's acquisition of 75% of CARE Hospitals (plus KIMS Health). Per WB/WHO data*, India has ~0.5 hospital beds per 1,000 people (compared to 2.9 for the US, 2.1 for Brazil, 4.3 for China, and 7.1 for Russia). Moreover, India's population continues to grow, and is projected to peak at ~1.7 billion only in ~2060 (UNPD, WPP 2022**), decreasing thereafter to ~1.5 billion by 2100. [n.b: China's population, in contrast, is expected to decline to ~775 million by 2100, from over 1.4 billion today. Some demographers are projecting even more dramatic declines***] The investment need for the entire healthcare infrastructure/delivery sector is enormous. India will need to continue to attract long-term capital from PFs, SWFs and other domestic and foreign institutional investors. Sources: *WB/WHO: https://lnkd.in/gM8WMPts **UNPD WPP (27th ed.): https://lnkd.in/e5PYem87 ***WSJ/PRC Demographics: https://lnkd.in/g5Khf_n4; https://lnkd.in/gHzUBUvA

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Today's Headlines from : *Economic Times* 📝 Banks asked to ease compliances for exports up to $1,000 📝 NCLT asks two Tata NBFCs to seek merger nod from stakeholders 📝 Railway eyes mobile phone and perishable goods transport through Vande Parcel train service 📝 India and China plan special representatives meeting this month 📝 Indian billionaires' wealth nearly tripled to $905 billion in 10 years: Report 📝 LG Electronics India files for IPO to sell 10.18 crore shares 📝 CEAT inks pact with Michelin to acquire Camso brand's OHT, tracks biz for about $225 mn 📝 Laurus Labs biotech unit raises Rs 120 crore from Eight Roads Ventures 📝 Cabinet allocates over Rs 5,000 crore for new Kendriya Vidyalayas, Rs 2359 crore for 28 Navodaya Vidyalayas 📝 Cabinet okays Rithala-Kundli corridor of Delhi Metro Phase-IV project with outlay at Rs 6230 crore 📝 Lifestyle activewear brand Terractive raises Rs 8 crore from Fireside Ventures, DevC 📝 Jewellery retailer Bluestone’s board clears IPO proposal 📝 Orange Health Labs raises $12 million from Amazon Smbhav, others 📝 Startups raise $282 million in week to December 6; up 133% on-year *Business Standard* 📝 Monetary policy review: RBI keeps rates unchanged, cuts CRR by 50 bps to 4% 📝 Tata Power plans Rs 1.25 trillion investment between FY26 and FY30 📝 Piramal Pharma to pay $407,400 to US-based VetDC Inc to settle dispute 📝 SBI Card surpasses milestone of 20 million credit cards in circulation 📝 Paytm's wholly-owned Singapore unit approves stake sale in PayPay 📝 Akasa Air signs codeshare partnership with Abu Dhabi-based Etihad Airways 📝 UltraTech Cement receives CCI query on India Cements acquisition 📝 Air India Express to add 65 planes, Air India 35 in next three years 📝 Forex reserves up $1.51 bn to $658.091 bn; end consecutive weeks of decline 📝 New demat account additions hit 7-month low in November, shows data *Financial Express* 📝 MobiKwik trims IPO size from Rs 700 crore to Rs 572 crore 📝 TKIL industries forays into green hydrogen 📝 NHAI to access highway contractors on quality of construction 📝 Zaggle aims to double its revenue by FY26 📝 LG Electronics India files for IPO, may raise Rs 15,000 crore 📝 Bank of Baroda launches loan scheme for women MSMEs, overdraft facility for working capital finance *Mint* 📝 Sebi clarifies rules barring finfluencers giving investment advice 📝 US job market bounces back from impact of strikes, hurricane 📝 Morgan Stanley, HSBC cut oil supply forecast; Brent avg pegged at $70 for 2025 📝 FM, economists discuss slowing growth, budget priorities, economic challenges 📝 Food prices reach 19-month high in November, UN says 📝 NCLAT sends Aakash-Byju’s dispute back to NCLT amid minority shareholder tension 📝 Nomura cuts PV growth forecast for Q3FY25, upgrades 2W outlook on rural demand

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Raising Capital in India: Current Scenario: Traditional Funding Options: 1.⁠ ⁠Venture Capital (VC) Funds 2.⁠ ⁠Private Equity (PE) Funds 3.⁠ ⁠Angel Investors 4.⁠ ⁠Banks and Financial Institutions 5.⁠ ⁠Initial Public Offerings (IPOs) Alternative Funding Options: 1.⁠ ⁠Crowdfunding (e.g., Kickstarter, Ketto) 2.⁠ ⁠Peer-to-Peer Lending (e.g., Lendingkart, Faircent) 3.⁠ ⁠Invoice Discounting (e.g., KredX, InvoiceMart) 4.⁠ ⁠Equity Crowdfunding (e.g., Equity Crest, LetsVenture) 5.⁠ ⁠Blockchain-based Funding (e.g., ICOs, STOs) Government Initiatives: 1.⁠ ⁠Startup India: Tax exemptions, funding, and regulatory support. 2.⁠ ⁠Make in India: Encourages manufacturing and innovation. 3.⁠ ⁠Mudra Yojana: Loans for micro and small enterprises. 4.⁠ ⁠Standup India: Funding for women and SC/ST entrepreneurs. Private Sector Initiatives: 1.⁠ ⁠Incubators and Accelerators (e.g., Nasscom, TiE) 2.⁠ ⁠Industry-specific funds (e.g., healthcare, fintech) 3.⁠ ⁠Family Offices and High Net Worth Individuals (HNIs) Digital Platforms: 1.⁠ ⁠Online lending platforms (e.g., Lendingkart, Capital Float) 2.⁠ ⁠Equity crowdfunding platforms (e.g., LetsVenture, Equity Crest) 3.⁠ ⁠Investment platforms (e.g., Zerodha, Upstox) Key Considerations: 1.⁠ ⁠Business plan and financial projections 2.⁠ ⁠Regulatory compliance 3.⁠ ⁠Due diligence 4.⁠ ⁠Valuation and pricing 5.⁠ ⁠Investor relations Raising Capital Steps: 1.⁠ ⁠Prepare a compelling business plan and pitch. 2.⁠ ⁠Identify potential investors and funding options. 3.⁠ ⁠Network and build relationships. 4.⁠ ⁠Negotiate terms and valuation. 5.⁠ ⁠Close the deal. India's Funding Ecosystem: 1.⁠ ⁠Growing VC and PE industry. 2.⁠ ⁠Increasing focus on startups and innovation. 3.⁠ ⁠Government support and initiatives. 4.⁠ ⁠Rising importance of digital platforms

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