28 Aug 2024

SEBI has introduced new borrowing rules for Category I and II alternative investment funds (AIFs), allowing loans for up to 30 days, four times a year, capped at 10% of investable assets. AIFs can borrow to cover short-term cash flow needs, but only under strict conditions outlined in the fund's Private Placement Memorandum. Borrowing is discouraged except as a last resort, with stringent disclosure requirements and cost-sharing among defaulting investors. SEBI also set guidelines for Large Value Funds, requiring compliance by November 18 to extend investment terms by up to five years.Read more

28 Aug 2024

In Q1 FY24, India's four major REITs - Brookfield India, Embassy Office Parks, Mindspace Business Parks, and Nexus Select Trust - distributed INR 1,371 crore to unit holders, reflecting the sector's growing strength. With assets exceeding INR 1.4 lakh crore, these REITs have returned over INR 18,000 crore to more than 2,45,000 investors since inception. Recent regulatory changes, such as the reduced holding period for long-term capital gains, have boosted investor interest. As urbanisation and infrastructure development continue, Indian REITs are poised for sustained growth, offering stable returns and diversification.Read more

28 Aug 2024

Axis Ecorp has ventured into fractional ownership, partnering with FOIC and Moneytree Realty to offer investment opportunities in North Goa's real estate market. The company aims to generate INR 100 crore in revenue this fiscal year, starting with a selection of suites in a prime tourist location. This initiative lowers the financial barrier for real estate investors and is expected to boost the local economy through job creation in property management and tourism. Axis Ecorp plans to expand with three more offerings in the coming months, further tapping into this growing market.Read more

28 Aug 2024

Ansal Housing reported a net consolidated profit after tax of INR 41.59 crore for the quarter ended 30 June 2024, a notable recovery from a INR 4.33 crore loss in the same quarter last year. The company's total income for Q1 FY25 rose by 59.16% to INR 125.48 crore. The board has approved Kushagr Ansal's appointment as Managing Director & CEO, effective 15 October 2024, for three years. During the quarter, Suraksha ARC restructured INR 151.04 crore of borrowings, resulting in an exceptional income of INR 83.04 crore due to interest-free terms.Read more

27 Aug 2024

CVC Capital Partners has emerged as the highest bidder to acquire a 52.47% stake in Aavas Financiers for INR 7,089 crore. This move follows Kedaara Capital and Partners Group's decision to exit their 26.47% joint investment, achieving a 6x return. The acquisition highlights CVC's strategy to capitalise on India's growing demand for affordable housing. Aavas, with an AUM of INR 17,313 crore in FY24, has shown strong growth in the housing finance sector, despite facing challenges from RBI's tightened norms.Read more

27 Aug 2024

The Reserve Bank of India's (RBI) revised regulations for deposit-taking housing finance companies (HFCs), effective 12 August 2024. HFCs must gradually raise their liquid asset requirements from 13% to 15% by mid-2025, reduce the maximum public deposit holdings to 1.5 times their net owned funds, and limit deposit tenures to five years. While most HFCs are already compliant, some may need to improve liquidity and adjust deposit ratios. These changes are part of the RBI's broader effort to align HFC regulations with those of non-banking financial companies (NBFCs), aiming to strengthen the sector's financial stability.Read more

27 Aug 2024

Delhi-NCR attracted the highest private equity investment in the real estate market of India, with USD 633.3 million during January-June 2024, as per the Cushman & Wakefield's report. Office assets received USD 483.6 million, while the residential sector collected USD 149.6 million, particularly in luxury housing. The rise in investment is driven by high demand for prime office spaces and strategic location advantages. Across six major cities, total investments reached USD 3.9 billion, with multi-city deals dominating. Experts anticipate continued momentum in Delhi-NCR, highlighting its infrastructure, connectivity, and appeal to businesses and investors as key growth factors.Read more

27 Aug 2024

BBMP is now empowered to recover property tax arrears by attaching the bank accounts and immovable properties of defaulters. Previously, they could only issue demand notices and seal premises, but legal challenges hindered enforcement. With the 2024 property tax rules, BBMP can issue attachment warrants, forcing banks to disclose and freeze defaulters' accounts, including fixed deposits. Non-compliant banks face legal action under the Bharatiya Nyaya Sanhita-2024, strengthening BBMP's ability to ensure tax compliance.Read more

27 Aug 2024

Shriram Properties, a leading Delhi-based realty firm saw a jump of 5% in its net profit reaching INR 17.46 crore in June quarter, the company reported. The company's total income recorded INR 210.90 crore this fiscal year against previous fiscal year that stood at INR 53.73 crore. The top official of the company said the strong presence in the market and strategies helped to growth and deliver its commitments for upcoming years. In its official statement, the company said it has concluded 2 new projects in Bengaluru.Read more

27 Aug 2024

Smartworks Coworking Spaces Ltd, a leading provider of managed office spaces, has filed for an IPO with SEBI. The proposed offering includes an INR 550 crore fresh issue and an Offer for Sale of 67.59 lakh shares by promoters. The company may also raise an additional INR 110 crore through a pre-IPO placement. The proceeds will be used for capital expenditure, loan repayment, and general corporate purposes. Specializing in transforming bare-shell properties into tech-enabled, amenity-rich campuses, Smartworks caters to businesses of all sizes, with a focus on mid-to-large companies. The IPO is being managed by a consortium of reputed investment banks.Read more