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Time of India
3 minutes ago
- Time of India
Performance of firms responsible for lower PLI disbursals: MeitY
Academy Empower your mind, elevate your skills The Ministry of Electronics and Information Technology ( MeitY ) has told a parliamentary committee that it surrendered Rs 1,574 crore from the funds earmarked for production-linked incentives (PLI) in fiscal 2024 because of lower-than-anticipated performance by companies selected under the Parliamentary Standing Committee on Communications and Information Technology has hauled up the ministry for utilising only Rs 12,847 crore in FY24 under the schemes, after submitting a budget estimate of Rs 16,549 crore and later revising it down to Rs 14,421 crore, as per a standing committee report tabled in Parliament last much as 70% of the underutilised funds were meant for the PLI and Modified Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India schemes, MeitY told the committee. "Expenditure or disbursement of incentives under these two schemes is dependent upon what the private companies are able to deliver. So, it is beyond the control of the ministry to ensure optimal utilisation of the allocated fund under these schemes," it address underutilisation of the earmarked funds, estimates received from industrial units are being reduced substantially at the budget estimate stage itself, MeitY informed the committee. However, the committee refused to accept the reasons."The ministry has a larger role and responsibility towards proper monitoring, facilitation and effective implementation of the above-mentioned schemes, which cannot be solely left to private companies. Therefore, the ministry's submission 'is not understandable'," it said in the committee told the ministry to examine any lack of concerted efforts in utilisation of funds at the earliest through coordination meetings with the companies and stakeholders for reaching realistic and reasonable decisions, as per the committee report.
Time of India
3 minutes ago
- Time of India
W Health Ventures targets $70 million Fund II to build healthcare startups
Academy Empower your mind, elevate your skills US venture capital firm W Health Ventures is looking to raise $70 million, or about Rs 610 crore, for its second India-focused fund to back healthcare startups in the fund will support the development of eight to ten seed and early-stage healthcare companies over the next four years, in partnership with 2070 Health, a healthcare venture studio, W Health Ventures managing partner Pankaj Jethwani told ET.W Health plans to invest Rs 26-40 crore ($3-5 million) per company, with additional capital reserved for follow-ons, he company-creation model offers infrastructure, capital, and operational know-how from the incubation stage.'The company creation model is particularly suited for healthcare due to the sector's inherent challenges, such as its slow pace of change, heavy regulation, and complexity,' Jethwani said. 'This approach helps founders overcome bottlenecks by leveraging the fund's data, relationships, playbooks, and teams to build companies from zero to one.'Fund II will focus on two core themes: single-specialty care delivery platforms and AI-enabled business-to-business (B2B) healthcare first theme will back startups offering high-quality, efficient care in specific medical second will target B2B companies catering to the growing demand from US-based healthcare firms for technology solutions powered by India's clinical and engineering talent pool. These startups are expected to use automation and artificial intelligence (AI) to drive operational efficiency for international clients.'AI is no longer optional when building a company, including in healthcare, though it doesn't always have to be the primary product,' Jethwani said. 'The technology is crucial for embedding convenience and high-quality care at every step.'W Health has already begun deploying capital from the new first investment from Fund II was in EverHope Oncology, which raised $10 million in a seed round. W Health led the round in partnership with Narayana Health and 2070 Health, as reported by ET.W Health's first fund of around $50 million backed startups such as AI-enabled mental health platform Wysa; Elevate Now, a medical weight-loss programme; and Kins, a US-based virtual and home-based physical therapy platform. Its other investments included startups in paediatric care and pain in 2019, W Health has backed companies across various healthcare domains, including digital health, chronic disease management, and mental has seen a rise in sector-specific venture capital funds that focus on defined themes such as healthtech, deeptech, cleantech, and consumer tech. Examples include Java Capital, which backs deeptech and climate tech startups; Avaana Capital, focused on consumer, food and agritech; and Delhi-based Sauce VC, which invests in consumer brands.
Time of India
19 minutes ago
- Time of India
NSDL offers long-term play in a growing capital market
ET Intelligence Group: National Securities Depository (NSDL), the country's largest securities depository, aims to raise ₹4,011 crore through an offer for sale ( OFS ). While the peer Central Depository Services' ( CDSL ) demat custody value at ₹70.5 lakh crore is just 15% of NSDL 's ₹464.2 lakh crore, the latter has lower operating margin and net profit. This reflects in its lower IPO valuation. India's demat account penetration at 13.4% in FY25 has grown at 21.9% annually over the past 10 years, according to Crisil. Explore courses from Top Institutes in Please select course: Select a Course Category MCA Artificial Intelligence Design Thinking Healthcare Degree Data Analytics Cybersecurity Data Science Finance Technology Leadership others Management Others Product Management Public Policy Digital Marketing MBA healthcare PGDM Operations Management Data Science CXO Project Management Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details The long-term growth prospects for the sector look bright driven by the increasing financialisation of savings and deepening capital markets . Given these factors, the issue is suitable for investors having a long-term horizon and moderate risk tolerance. Agencies Business Depositories primarily generate revenue through transaction fees, custody charges (fixed amounts for holding securities) and annual fees. Established in 1996, NSDL held 85.1% of total securities by number and 86.8% by value in FY25, according to Crisil. NSDL had 39.5 million active demat accounts and a network of 65,391 service centers as of March 2025. Live Events It has focussed on institutional clients and larger-value transactions, while competitor CDSL has carved out a niche in the expanding retail investor segment. Financials Total income and net profit grew by 18.1% and 20.9% annually between FY23 and FY25 to ₹1,535.1 crore and ₹343.1 crore respectively. Consolidated EBITDA (earnings before interest, taxes, depreciation, and amortisation) grew by 22.5% to ₹492.9 crore during the period while return on equity (RoE) improved to 17.1% from 16.4%. Despite these positives, NSDL trails CDSL in several profitability metrics and operates at thinner margins. Its operating profit margin for FY25 was 24% compared with CDSL's 53.2%. Valuation NSDL demands a P/E multiple of up to 46.6 compared with CDSL's P/E of 68. The latter's premium valuation owes to its more profitable business model. Anchors invest Rs 1,201.4 crore The depository raised ₹1,201.4 crore from 61 anchor investors. It allotted 15 million hares at upper price band of ₹800 apiece. LIC , Smallcap World Fund, ICICI Prudential MF, SBI MF, Nippon Life India, HDFC MF, Fidelity Funds, Government Pension Fund Global, SBI Life Insurance , HDFC Life Insurance , and Abu Dhabi Investment Authority were some of the anchor investors.
