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.
Bangalore based ZoomCar India Private Limited, a self-driven car rental startup, has raised $8 Mn in new round of funding led by Sequoia Capital India. Other investors include former Infosys CFO Mohandas Pai and Manipal Group's head of corporate affairs Abhay Jain.
DealCurry tracks financial and corporate markets for events, interprets and integrates the information in our platform, providing premium data, news and analytics. DealCurry provides comprehensive coverage of the capital markets through an intuitive, user-friendly interface.