The Foreign Investment Promotion Board (FIPB) green-signals broking firm Sharekhan Ltd.’s proposal to sell 100 per cent stake to BNP Paribas after many deferrals. This move will allow the former to entice foreign investment of worth Rs 2,060 crore. Currently, this procedure falls under FDI policy that means, a foreign investor can have up to 100 percent stake in a stockbroking firm only under the automatic route.
With an aim to invest in startups that are active in fin tech, healthcare, artificial intelligence and other cutting-edge technology, the Silicon Valley venture capital firm Canvas Ventures has raised a $300 million fund. This is the second fund of Canvas that raised $175 million in 2013 in its first funding.