Author: Sahil Manchanda

In a move to boost investment and support the growth of startups, the Indian government is working on a new framework to reduce the tax burden on private equity (PE) funds and venture capital (VC) firms. This initiative comes as a result of the recognition that these investment entities play a crucial role in nurturing innovation and contributing to the country’s economic development. New Investment Framework To Reduce Tax Burden: The new investment framework is aimed at providing a more conducive environment for PE and VC firms, attracting more foreign investment and fostering a healthier startup ecosystem in India. The…

The gross non-performing assets (NPA) of Public Sector Undertaking (PSU) banks in India is expected to drop to 5% in March 2024 from 14.6% in March 2018. This news comes as a relief to the banking sector, which has been grappling with the problem of bad loans for several years. Easing Pressure on NPA The gross NPA of PSU banks has been on the decline for the past few years. As per the Reserve Bank of India’s (RBI) latest Financial Stability Report (FSR), the gross NPA of PSU banks declined to 5% in the first half of the current fiscal…

UBS

The Securities and Exchange Board of India (SEBI) has returned the draft papers of six companies seeking to launch their initial public offerings (IPOs), indicating a stricter approach in the clearance process. The move comes after SEBI Chairman Ajay Tyagi had earlier warned about the need for transparency and adherence to regulatory norms in the IPO market. The regulator returned the draft papers of the six companies due to incomplete or inadequate disclosures in their offer documents. The companies include an insurance services provider Go Digit, home-grown mobile maker Lava International; B2B payments and services provider Paymate India; Fincare Small…

Indian startups raised a staggering $791 million this week, with 22 deals closed between March 13 and March 18, 2024. This marks a significant increase from the $178 million raised between March 6 and 11 across 18 deals. The funding amount this week brought a welcome break from the nine-month-long recession-like period in funding. The last time Indian startups raised over $750 million was in the last week of July 2022, when the ecosystem raised $783 million across 27 deals. The surge in funding this week is a positive sign for the Indian startup ecosystem and reflects investor confidence in…