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Foreign Investments
Vienna-based RHI Magnesita is investing Rs 3,600 crore in the Indian market over the next two-three years to increase its production capacity and modernise plants, its global CEO Stefan Borgas said. The company has utilised a portion of the Rs 3,600-crore capital expenditure to acquire two refractory assets in India, Borgas told PTI here. "We have earmarked a Rs 3,600 crore investment in India. This would go towards organic and inorganic capacity expansion and modernisation of the Indian manufacturing facilities," the CEO said, adding that the capital infusion will be through its subsidiary RHI Magnesita India Ltd. RHI Magnesita India is a manufacturer and supplier of refractory products, systems, and solutions for industries such as steel, cement, non-ferrous metals, and glass. The company recently completed the acquisition of Dalmia OCL and the refractory business of Hi-Tech Chemicals for Rs 1,708 crore and Rs 621 crore, respectively. The refractory building capacity of the comp
Punjab Chief Minister Bhagwant Mann will visit Germany from September 11-18 to attract investments and strategic tie-ups. This will be Mann's first foreign visit after he took oath as the chief minister in March. "In order to give a major push to the industrial growth of the state, Punjab Chief Minister Bhagwant Mann will be undertaking a tour of Germany from September 11-18," an official statement said here on Friday evening. During the tour, the chief minister will be meeting business delegations and prominent companies to rope in investments and strategic tie-ups in key sectors like renewable energy, car manufacturing, pharmaceuticals and advanced agriculture practices, among others, it said. Mann will hold a meeting with companies like BMW, BayWa and others during his stay in Munich, Frankfort and Berlin. "This crucial visit of the Chief Minister is likely to immensely benefit the state in getting huge investments, technical know-how and expertise from German companies," said
Capital markets regulator Sebi has allowed India registered Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs) to invest in foreign entities without having an India connection. Earlier, one of the conditions was that such overseas investments were allowed only in those companies which had an Indian connection. Like, a company has a front office overseas, while having its back office operations in India. "The requirement of the overseas investee company to have an Indian connection... has been done away with," Sebi has said in a circular. The regulator, however, said that no such investments can be made in companies based in jurisdictions identified by Financial Action Task Force (FATF) as those having anti-money laundering (AML) or combating the financing of terrorism (CFT) deficiencies. Moreover, AIFs or VCFs will be allowed to invest in an overseas investee company, which is incorporated in a country whose securities market regulator is a signatory to the ...
Sebi on Thursday came out with new guidelines for Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs) for making investment abroad, under which overseas investee firms won't need to have an Indian connection. Under the rules, AIFs can invest in securities of companies incorporated outside India. Besides, VCFs are allowed to make investments in off-shore venture capital undertaking, subject to certain conditions. One of the conditions was that such overseas investments were allowed only in those companies which had an Indian connection. Like, a company has a front office overseas, while having its back office operations in India. "The requirement of the overseas investee company to have an Indian connection... has been done away with," the Securities and Exchange Board of India (Sebi) said in a circular. As per the fresh guidelines, AIFs or VCFs will be allowed to invest in an overseas investee company, which is incorporated in a country whose securities market ...