Templeton Buys $1.2 Billion India Government Bonds

New York City‘s Franklin Templeton Investments bought about $1.2 billion of Indian government bonds in two days end March. The purchases, made through broker JPMorgan Chase & Co, were largely for tenures maturing in 2021-2023.

Since March 11, when Prime Minister Narendra Modi’s party won an election in the state of Uttar Pradesh in the north, foreign funds have been pouring into India, driving stocks to a record high and pushing up bond prices, reports Mint.

Stock chart

“The outcome of state elections, a dovish hike by the Federal Reserve and relatively attractive valuations have been the key drivers of inflows,” said Nagaraj Kulkarni, a senior rates strategist at Standard Chartered Plc in Singapore.

 

March 30, 2017   No Comments

India’s Flipkart Raises $1.4 Billion Funding

Flipkart Private Ltd, the Singapore-based holding company of India’s e-commerce marketplace Flipkart, based in Bangalore, closed a $1.4 billion funding round with backing from Chinese Internet giant Tencent, eBay, and Microsoft. Post funding, the valuation of India’s most highly valued startup is now $11.6 billion from a previous high of $15 billion. The investments will give Flipkart a possible entry into the peer-to-peer e-commerce market.

Flipkart Logo

eBay will sell its Indian business to Flipkart in part exchange for an equity stake; however, it will continue to operate as an independent entity. Tencent, a leading provider of internet value-added services, will become a “strategic investor”, bringing experience in linking social networking, and e-commerce reports CNBC.

“This deal reaffirms our resolve to hasten the transformation of commerce in India through technology,” co-founders Sachin Bansal and Binny Bansal said in a press release.

March 23, 2017   No Comments

PayTM Launches e-Commerce Mall in India

PayTM, a consumer shopping Android app has launched an e-commerce mall modeled on TMall, China’s dominant e-commerce platform. With Alibaba’s and SAIF Partners‘ infusion of $200 million into Paytm, an Indian payment and commerce company based out of Delhi NCR, the company is now valued at $1 billion.

Paytm e-commerce aims to offer 1  billion products from all across the globe to its shopping cart by the festive season in India that starts in August. It plans to bring sellers from Southeast Asia, especially from Alibaba’s other investments such as e-commerce major Lazada in Indonesia. Market sources cite Amazon as having about 500 million products on its platform, while Flipkart and Snapdeal have about 50 million products each.

Paytm Mall App

Paytm has already set up 17 fulfillment centers and 40 courier partners for speedy service as the company aims to dominate the Indian online shopping market, reports Business Standard.

 

March 4, 2017   No Comments

India Tops in Trust of Institutions in Global Report

An online survey of more than 33,000  respondents conducted between October 13 and November 16, 2016 by Edelman, the world’s largest public relations firm, and reported in the 2017 Edelman Trust Barometer, revealed that trust is in crisis around the world, and the largest-ever drop in trust was recorded across the institutions of government, business, media and NGOs.

Among the 28 nations surveyed, India emerged as the most trusted nation in terms of institutions with 72 per cent of the respondents from the general population feeling so. The country is followed by Indonesia (69 per cent), China (67 per cent), Singapore and UAE (both at 60 per cent), reports the Economic Times.
'Trust' written in sand
Other Key Findings:
  • The Indian government is the second most trusted  by its own citizensafter China
  • Of the 28 countries, there was distrust in government in 75 percent of them
  • Trust levels decreased to 47 percent this year from 50 percent in 2016
  • CEO credibility dropped 12 points globally to an all-time low of 37 per cent, plummeting in every country studied
  • Government leaders remain least credible
  • Trust in business dropped in 18 countries, while NGOs  saw drop-offs as high as 10 points across 21 countries
  • Half of the countries surveyed have lost faith in the system, led by France (72 percent) and Italy (72 percent), Mexico (67 percent), South Africa (67 percent) and Spain (67 percent)

February 7, 2017   No Comments

Everstone Capital Invests in Rubicon Research, India

The Singapore and India-based private equity firm Everstone Capital invested $33 million in contract research and drug delivery company Rubicon Research, in a bid to diversify its portfolio. Rubicon has a USFDA-approved manufacturing plant in Mumbai, and it provides solutions for bioavailability enhancement, gastric retention, taste masking, and customizing the release profiles of drugs. It also offers life cycle management services for pharmaceutical products.

Rubicon Research

“We welcome this partnership with Everstone and believe, with their deep managerial and operational expertise, capital infusion, and global connectivity, we will be able to significantly accelerate our growth,” said Pratibha Pilgaonkar, chief executive, Rubicon Research.

Founded by former Goldman Sachs executives, Sameer Sain and Atul Kapoor in 2006, the private equity firm has stepped up its deal making pace this calendar year, reports the Economic Times. Brooks Entwistle is a partner and Chief Executive Officer of The Everstone Group.

 

November 4, 2016   No Comments