If the new allowance by the SEBI with regards to hedge funds is anything to go by, India may soon witness a case similar to the ongoing one in American-listed nutrition company Herbalife which is facing a hedge fund investor battle in its stock.
SEBI, the regulatory watch dog in the capital markets, recently granted registration to five of the eleven asset managers seeking its approval to come up with hedge funds, a Mint piece stated.
This takes the tally to eight as three firms had already secured permission. Their AUMs could likely be in the range of R3,000-3,500 Cr and if all the funds retain 100% of their corpus in the next one year, the total size could be a minimum $1 Bn.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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