Latest news with #AIF
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Business Standard
6 hours ago
- Business
- Business Standard
Prices of South Delhi luxury independent floors up 105% in 3 yrs: Report
The prices of luxury independent-floor homes in certain South Delhi colonies have increased 64 per cent to 105 per cent in three years due to investments by high-net-worth individuals (HNIs), said a report on Friday. Category A colonies such as Mayfair Garden and Panchsheel Park represent places with the highest circle rates, according to the report by Golden Growth Fund, a real-estate-focused alternate investment fund (AIF). Category B comprises colonies like Andrews Ganj and Defence Colony – places where circle rates fall between the highest (Category A) and lower categories. In Category A colonies, the average price for a 2,500-square-feet floor increased almost 100 per cent in three years: from Rs 8-11 crore to Rs 16-22 crore. The price for a 6000-square-feet floor rose by 105 per cent: from Rs 18-22 crore to Rs 36-45 crore. In Category B colonies, the average price for a 2,500-square-feet floor grew 70 per cent: from Rs 5-6.5 crore to Rs 8.5-11 crore. A 3,200-square-feet floor's price increased 64 per cent: Rs 8-11 crore to Rs 13-18 crore. Ankur Jalan, chief executive officer of Golden Growth Fund, said South Delhi offers privacy and customised space to ultra-rich people like startup founders. 'South Delhi's connectivity to the office hubs in Gurugram and Noida and the airport adds to its appeal. The excellent return on investment is another factor that has added to the growing interest,' he said. Experts have said that HNIs, non-resident Indians and family offices, who earlier invested in local properties without the cushion of compliance and safety, are making investments in AIFs that invest in affluent colonies. Jalan said that with returns as high as 18 per cent to 20 per cent, AIFs have opened a new avenue for these investors. Golden Growth's report said South Delhi is one of India's most premium real estate markets, with per square feet rate in a Category A colony ranging between Rs 60,000 to Rs 90,000 and in Category B colony between Rs 36,000 to Rs 56,000 depending upon floor and colony. The fund previously said the redevelopment potential of South Delhi is worth Rs 5.65 trillion across 42 regulated colonies overseen by the Municipal Council of Delhi (MCD), with occupied and vacant plots in Category A and B colonies alone accounting for over Rs 5.35 trillion. Jalan said that while the real estate market is bullish, South Delhi stands out for consistent demand, reliable investment and substantial returns.
Time of India
a day ago
- Business
- Time of India
Explained! What Sebi's nod on co-investment within AIFs means for investors, fund managers
Market regulator Securities and Exchange Board of India ( Sebi ) on Wednesday approved a new framework allowing Category I and II Alternative Investment Funds (AIFs) to offer co-investment opportunities directly within the AIF structure. The move aims to ease regulatory hurdles and simplify operations for fund managers and investors . "With an objective to enhance ease of doing business for Alternative Investment Funds (AIFs), the Board approved the proposal to permit Category I & II AIFs to offer Co-investment scheme (CIV scheme) under SEBI (Alternative Investment Funds) Regulations, 2012. This will further facilitate AIFs and investors to co-invest and will support capital formation in unlisted companies through AIFs," a Sebi release said. With this move, the market watchdog aims to streamline investment operations and enhance capital formation in unlisted companies. In market parlance, 'Co-investment' refers to investment made by a manager or sponsor of the AIF or by investor of Category I and II AIFs in unlisted investee companies where such Category I or Category II AIF(s) invests. The decision was taken in Sebi's 210th board meeting held yesterday. Illustration For instance, a scheme of an AIF is investing in a company for Rs 100 crore on behalf of investors in the pool, as part of the scheme's portfolio. If the need of the company is Rs 300 crore, the manager of the AIF, may offer this additional investment opportunity to any investor of the scheme of AIF who may want to invest in addition to their investment through the AIF. Also Read: Sebi board meeting: Regulator approves PSU delisting, IPO reforms, dematerialisation of Securities. 10 key takeaways What Sebi has done? 1) Simplification of current co-investment process Until now, such co-investments had to be routed through the Portfolio Management Services (PMS) framework. This required managers to register under both AIF and PMS regimes, creating compliance and operational hurdles. The new framework removes this dual-regulation burden. 2) Each co-investment gets a separate scheme A unique CIV scheme will be created for every co-investment opportunity, with safeguards to ensure it's used for legitimate purposes and to prevent misuse. 3) Relaxed regulatory norms for CIVs Certain compliance requirements that apply to standard AIF schemes will be relaxed for CIVs to ensure operational ease without compromising oversight. 4) Supports capital formation in startups & unlisted firms The initiative will enable large, flexible capital flows to promising unlisted ventures, benefiting both investors and early-stage companies. The move has been backed by public and industry consultation as the reforms follow the May 2025 public consultation paper, which received broad support from stakeholders. SEBI also factored in inputs from the Alternative Investment Policy Advisory Committee. This move is expected to deepen the Indian startup investment ecosystem by offering investors direct, transparent co-investment paths while enabling AIFs to efficiently structure large funding rounds. Also Read: Sebi board meeting: Regulator eases IPO rules for start-up founders, mandates dematerialisation of securities
Economic Times
a day ago
- Business
- Economic Times
Explained! What Sebi's nod on co-investment within AIFs means for investors, fund managers
Market regulator Securities and Exchange Board of India (Sebi) on Wednesday approved a new framework allowing Category I and II Alternative Investment Funds (AIFs) to offer co-investment opportunities directly within the AIF structure. The move aims to ease regulatory hurdles and simplify operations for fund managers and investors. ADVERTISEMENT "With an objective to enhance ease of doing business for Alternative Investment Funds (AIFs), the Board approved the proposal to permit Category I & II AIFs to offer Co-investment scheme (CIV scheme) under SEBI (Alternative Investment Funds) Regulations, 2012. This will further facilitate AIFs and investors to co-invest and will support capital formation in unlisted companies through AIFs," a Sebi release said. With this move, the market watchdog aims to streamline investment operations and enhance capital formation in unlisted companies. In market parlance, 'Co-investment' refers to investment made by a manager or sponsor of the AIF or by investor of Category I and II AIFs in unlisted investee companies where such Category I or Category II AIF(s) decision was taken in Sebi's 210th board meeting held yesterday. For instance, a scheme of an AIF is investing in a company for Rs 100 crore on behalf of investors in the pool, as part of the scheme's portfolio. If the need of the company is Rs 300 crore, the manager of the AIF, may offer this additional investment opportunity to any investor of the scheme of AIF who may want to invest in addition to their investment through the AIF. ADVERTISEMENT Also Read: Sebi board meeting: Regulator approves PSU delisting, IPO reforms, dematerialisation of Securities. 10 key takeaways Until now, such co-investments had to be routed through the Portfolio Management Services (PMS) framework. This required managers to register under both AIF and PMS regimes, creating compliance and operational hurdles. The new framework removes this dual-regulation burden. A unique CIV scheme will be created for every co-investment opportunity, with safeguards to ensure it's used for legitimate purposes and to prevent misuse. ADVERTISEMENT Certain compliance requirements that apply to standard AIF schemes will be relaxed for CIVs to ensure operational ease without compromising oversight. The initiative will enable large, flexible capital flows to promising unlisted ventures, benefiting both investors and early-stage move has been backed by public and industry consultation as the reforms follow the May 2025 public consultation paper, which received broad support from stakeholders. SEBI also factored in inputs from the Alternative Investment Policy Advisory Committee. ADVERTISEMENT This move is expected to deepen the Indian startup investment ecosystem by offering investors direct, transparent co-investment paths while enabling AIFs to efficiently structure large funding rounds. Also Read: Sebi board meeting: Regulator eases IPO rules for start-up founders, mandates dematerialisation of securities (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Indian Express
2 days ago
- Business
- Indian Express
SEBI introduces special measures to facilitate voluntary delisting of certain PSUs
The Securities and Exchange Board of India (SEBI) board on Wednesday announced several measures, including steps to facilitate voluntary delisting of certain public sector undertakings (PSUs), relaxation in regulatory compliances for foreign investors investing in government bonds and allowing founders of start ups to hold employee stock options (ESOPs) even after listing of the company The board also approved category I and II Alternative Investment Funds (AIF) to offer co-investment opportunities within the AIF structure. The SEBI board introduced special measures for PSUs to undertake voluntary delisting through fixed price delisting process when the shareholding of the government as a promoter or other PSUs equals or exceeds 90 per cent. 'PSUs (other than banks, NBFCs and insurance companies) in which aggregate shareholding of the government and/or any PSUs equals or exceeds 90 per cent of total issued shares of the PSU, would be eligible for delisting under the relaxed route ,' the SEBI said. Delisting of such eligible PSU would be only through a fixed price delisting process which shall be atleast 15 per cent premium over the floor price. In order to enhance ease of doing business through a risk-based approach and optimum regulation, the board approved the proposal to relax certain regulatory requirements for all existing and prospective foreign portfolio investors (FPIs) that exclusively invest in government securities G-Secs (GS-FPIs). SEBI has harmonised the periodicity of mandatory Know Your Customer (KYC) review for GS-FPIs with the Reserve Bank of India's (RBI) requirement. This would essentially mean that GS-FPIs will have less frequent mandatory KYC reviews. Under the revised norms, existing and prospective FPIs that exclusively invest in g-secs under the Fully Accessible Route (FAR) will not be required to furnish investor group details. Such details are largely relevant for monitoring FPI exposures into equity and corporate debt only. The SEBI said that GS-FPIs will be permitted to intimate all material changes within 30 days instead of 7 days. These relaxation come at a time when several global index providers have announced inclusion of g-secs in their respective bond indices, such as J P Morgan Global EM Bond Index, Bloomberg EM Local Currency Government Index and FTSE Russell Emerging Markets Government Bond Index. SEBI said that under the existing regulations, promoters are ineligible to hold or be granted share based benefits, including ESOPs. If they hold such share based benefits at the time of filing of draft red herring prospectus (DRHP), they have been required to liquidate such benefits prior to the initial public offering (IPO). 'This provision has been found to be impacting founders classified as promoters at the time of filing of DRHP. The proposal approved by the Board shall facilitate founders who received such benefits at least one year prior to the filing of DRHP with the Board, to continue holding, or exercising such benefits even after being specified as the promoter and the company becoming a listed entity,' the regulator said. These proposals as approved by the board are expected to assist public companies who are intending to list after undertaking reverse flipping (i.e. shifting the country of incorporation from a foreign jurisdiction to India) and relax certain requirements relating to share based benefits granted to founders prior to the company undertaking the IPO. With an objective to enhance ease of doing business for AIFs, the SEBI board approved the proposal to permit Category I & II AIFs to offer co-investment scheme (CIV scheme). This will further facilitate AIFs and investors to co-invest and will support capital formation in unlisted companies through AIFs. Co-investment refers to investment made by a manager or sponsor of the AIF or by investor of Category I and II AIFs in unlisted investee companies where such a Category I or Category II AIF(s) makes investment. At present, co-investment for AIF investors is facilitated through Co-investment Portfolio Managers under Portfolio Management Service (PMS) regulations. The regulator said that a separate CIV scheme shall be launched for each co-investment in an investee company subject to safeguards to ensure that the scheme is used only for bona fide purposes. The SEBI board has also decided to introduce a settlement scheme for certain stock brokers who traded on the National Spot Exchange Ltd (NSEL) platform and had applied/ were registered with SEBI as trading member / clearing member. The scheme will provide an opportunity to such stock brokers against whom enforcement actions have been taken by SEBI. By availing the benefit of the scheme, the stock brokers may settle such proceedings and seek expeditious conclusion of the said proceedings.
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Business Standard
2 days ago
- Business
- Business Standard
Sebi unveils settlement scheme for NSEL brokers facing regulatory action
Markets regulator Sebi on Wednesday announced the introduction of a settlement scheme for certain stock brokers, who traded on the National Spot Exchange Ltd (NSEL) platform. This long-awaited move is expected to bring major relief to traders whose funds have been stuck since the NSEL payment crisis in July 2013. In a press release after its board meeting, Sebi said the scheme is for those stock brokers against whom enforcement actions have been initiated by the regulator. By opting for the scheme, these brokers will have an opportunity to resolve pending proceedings and bring them to an expedited conclusion. The Sebi board also cleared significant reforms to boost investment activity through Alternative Investment Funds (AIFs). It approved a proposal to allow Category I and II AIFs to offer co-investment schemes under the AIF regulations. This will further facilitate AIFs and investors to co-invest and support capital formation in unlisted companies through AIFs. Under the newly approved framework, 'Co-investment' refers to investments made by either the manager/sponsor of the AIF or an investor in Category I and II AIFs in unlisted companies, alongside the main AIF investment. For instance, if an AIF scheme invests Rs 100 crore in a company, and the total capital requirement is Rs 300 crore, the fund manager can now offer an additional Rs 200 crore investment opportunity to investors under the scheme. Previously, co-investments were primarily facilitated through the Portfolio Management Services (PMS) route. However, a Sebi-appointed working group observed multiple challenges with this approach, such as the need for dual registration under both AIF and PMS regulations, and operational difficulties for unlisted companies managing a large number of shareholders. To address these issues, the working group recommended enabling co-investment directly within the AIF framework. Now, Sebi has decided to allow the creation of a co-investment scheme (CIV scheme) within AIF regulations. Each co-investment in an unlisted company will be handled through a separate CIV scheme. Further, certain regulatory requirements that apply to regular AIF schemes will be relaxed for these CIV schemes. With this, investors now have two parallel co-investment routes -- the traditional PMS route and the newly introduced CIV scheme under the AIF umbrella. On the settlement scheme for NSEL brokers, Sebi clarified that the proposal was approved by the competent authority, following the recommendations of its High Power Advisory Committee (HPAC). The matter was placed before the board for information and implementation. The non-monetary terms of the settlement will vary, with voluntary debarment ranging from 1 to 6 months, depending on the severity of actions previously ordered. If a broker has already served a period of debarment under earlier Sebi directions that duration will be adjusted against the new term. However, Sebi has specified that the scheme excludes certain brokers, specifically those named in charge sheets filed by the Economic Offences Wing, Enforcement Directorate, or other law enforcement agencies in the NSEL matter, as well as those declared defaulters at stock exchanges. Last month, NSEL announced that it received over 90 per cent positive response from traders regarding a Rs 1,950-crore one-time settlement offer. The board also approved a proposal to review the regulatory framework for Angel Funds under AIF regulations to rationalise their fundraising and enhance ease of doing business. Also, the Sebi board has given the green signal to mandate select shareholders, including directors, key managerial personnel and current employees, to hold shares in demat form before filing an initial public offering (IPO) document. These measures will help eliminate inefficiencies and risks associated with physical share certificates, including loss, theft, forgery, and delays in transfer and settlement. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
