Latest news with #RenukaRamnath
Khaleej Times
a day ago
- Business
- Khaleej Times
Shiv Nadar University Chennai hosts first convocation; confers degrees to 404 graduates across disciplines
Shiv Nadar University Chennai, a pioneering institution in higher education, marked a historic milestone as it hosted its first convocation ceremony at the Justice Pratap Singh Auditorium. The event celebrated the achievements of 404 graduates from across 11 Indian states and one union territory, reflecting the university's growing national footprint. Renuka Ramnath, founder and CEO of Multiples Asset Management Ltd., Mumbai, graced the occasion as the chief guest and delivered the convocation address. She was joined by Shikhar Malhotra, trustee, Shiv Nadar Foundation; R Srinivasan, chancellor, Shiv Nadar University Chennai; and Dr Sriman Kumar Bhattacharya, vice-chancellor. The ceremony was also attended by members of the University's Governing Council, distinguished faculty, proud families, and esteemed guests from academia and industry. The proceedings began with a ceremonial academic procession and invocation, followed by the formal declaration of the Convocation by Chancellor R Srinivasan. Degrees were conferred across undergraduate and postgraduate programmes in engineering, commerce, and economics. The graduating batch included: Addressing the Class of 2025, Malhotra said: "This isn't just a graduation — it's a moment of creation. The Class of 2025 didn't just study here; they built something extraordinary from the ground up. As the very first graduating class, they have shaped the spirit, culture, and direction of Shiv Nadar University Chennai in ways that will echo for decades. They placed their trust in a new institution and, in doing so, became the architects of its legacy. Today, they don't just leave with degrees — they leave as pioneers, changemakers, and ambassadors of the Shiv Nadar vision." Ramnath shared her own story of trailblazing leadership and said: "Success does not come from joining a big name — it comes from having the courage to think originally and act fearlessly. When I chose to pioneer private capital investment in India, there were doubts and whispers that I was stepping back in my career. But I believed in the opportunity, even when it was invisible to others. Today, private capital flows into India have grown from a few hundred million dollars to over $60 billion annually. That's the power of conviction. My message to every graduate is this: question assumptions, don't be afraid of failure, and define success on your own terms. Above all, stay balanced, stay grounded, and never forget to lift others as you rise." R Srinivasan added: "This convocation is not only a celebration of academic achievement but a reaffirmation of our belief that education is the most powerful force for transformation. The graduates here today will carry forward the legacy of excellence envisioned by Shiv Nadar and shape a future where knowledge, innovation, and ethics lead the way." Dr Bhattacharya lauded the graduates for their resilience, particularly in navigating the challenges of a post-pandemic world. He reiterated the university's commitment to research-led education, interdisciplinary learning, and preparing global-ready professionals. The ceremony also recognised academic excellence and leadership, with gold and silver medals awarded to outstanding students. The event concluded on an emotional note with the symbolic hat toss, as graduates pledged to uphold the values of their alma mater and contribute meaningfully to society as professionals, changemakers, and responsible citizens. The event witnessed participation from nearly 1,200 attendees, marking the culmination of years of academic pursuit and reaffirming the University's mission to empower the next generation of innovators, ethical leaders, and changemakers.
India.com
4 days ago
- Business
- India.com
54 year old company will be sold! has turnover of Rs 64820000000 in 45 countries, occupies 50% of market, it is…
Luggage and travel accessories company VIP Industries is set to be sold after 54 years of operations. The company, which has a presence in 45 countries and a market capitalization nearing Rs 7,000 crore, holds a commanding 50% share in India's branded luggage market. The move will also trigger an open offer to acquire 26 per cent share from the open market, as per the SEBI Takeover Regulations by Multiples consortium. Dilip Piramal and Family has entered into a 'definitive agreement with the Multiples Consortium to sell up to 32 per cent stake in the Company,' according to a joint statement issued by both the companies. 'Upon completion of the transaction, control of the company will be transferred to Multiples Private Equity while Dilip Piramal and Family will continue to be shareholders in the Company,' the statement said. Dilip Piramal will be Chairman Emeritus of VIP Industries, it added. Open Offer At Rs 388 per Share Later, the VIP Industries also updated the exchanges about the open offer from the Multiples consortium, to acquire 3.70 crore shares of the company from its public shareholders. 'The Open Offer is made at a price of Rs 388/- per Offer Share, which has been determined in accordance with Regulations 8(2) of the SEBI (SAST) Regulations,' it said. Assuming full acceptance of the Open Offer, the total consideration payable by Multiples will be Rs 1,437.78 crore. The open offer price is around 15 per cent lower than the closing price of VIP Industries on BSE on Friday, which was at Rs 456.40. In the last one year, share prices of VIP Industries' highest trading price was on September 24, 2024 at Rs 580.6 and lowest on April 9, 2025 at Rs 259.7. As on March 2025, the promoter and promoter entity were holding 51.73 per cent shareholding in VIP Industries. 'The transaction, including the open offer, is subject to approval of the Competition Commission of India and will be in accordance with the SEBI Takeover Regulations,' the joint statement added. VIP Chairman Dilip Piramal On Sale Commenting on the development, VIP Chairman Dilip Piramal welcomed Multiples consortium as 'strategic partners' in the Company. 'This marks an important step toward reviving the company's strong legacy and helping it regain its foothold in the Indian luggage market, where it has struggled in recent years,' he said. Renuka Ramnath, Founder, MD and CEO of Multiples Alternate Asset Management said:' Multiples is excited to lead the ownership transition of the very strong legacy business of VIP and further build on its rich heritage and unlock its next phase of growth.' VIP Industries, which has a market capitalization of Rs 6,481.78 crore, competes with Samsonite and Safari Industries in the premium and mass segment. The company, which owns brands such as Aristocrat, VIP, Carlton, Skybags and Caprese had over 50 per cent market share in the branded luggage market in FY24. However, now the company is facing stiff competition from rivals and its market share is gradually reducing. For the financial year ended on March 31, 2025, VIP Industries' revenue was at Rs 2,169.66 crore. It has over 10,000 Points of Sale in 45 countries. Multiples is an Alternate Asset Management company, backed over 30 enterprises. It focuses on core sectors of financial services, pharma & healthcare, consumer and technology and more recently the green economy. (With Inputs From PTI)
Economic Times
10-07-2025
- Business
- Economic Times
NIIF to make a $700-million first closure of $1 billion Private Markets Fund II
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The National Investment and Infrastructure Fund NIIF ), a quasi-sovereign investment manager backed by the Centre, is set to complete a $700-million first closure of its latest Private Markets Fund (PMF II) within the next month, according to sources familiar with the initial close marks a significant increase compared with the debut fund, PMF I, which raised $600 million in week, the New Development Bank (NDB), a Shanghai-based multilateral development bank established by the BRICS nations—Brazil, Russia, India, China, and South Africa—committed $100 million to PMF II. The Asian Infrastructure Investment Bank (AIIB), which had backed PMF I, also reaffirmed its support with a $125 million commitment in government will remain the single largest investor in PMF II, contributing 49% of the total first reported in April last year about the launch of $1-billion PMF Private Markets Fund is dedicated to supporting India-focused private equity and venture capital funds. With a target size of $1 billion, PMF II aims to invest across key growth sectors, including electric vehicle (EV) infrastructure, waste management, urban and social infrastructure, technology, manufacturing, and their associated supply the structure of PMF I, PMF II plans to build a diversified portfolio comprising approximately 15 funds as well as direct investments in companies. About 75% of the fund's capital will be allocated to growth and venture capital funds, with the remaining 25% invested directly into Indian enterprises, added its inception, PMF I has deployed $600 million across 60 companies through nine portfolio funds. It has backed notable funds such as Multiples PE (owned by Renuka Ramnath), Lighthouse India, Invascent, Eversource Capital, Somerset Healthcare, Arpwood Partners, Yournest Capital Advisors, HDFC Capital Advisors, and Amicus Capital year, GoI had appointed Sanjiv Aggarwal as Chief Executive Officer & Managing Director. Agarwal, a former Partner at UK's infrastructure fund Actis, replaced Sujoy Bose, first managing director & chief executive officer of Private Markets Fund is headed by managing partner Anand Unnikrishnan, who joined NIIF in 2018. Prior to joining NIIF, Anand was a senior member of Macquarie Infrastructure and Real Assets (MIRA) team in India for about 10 contacted, an NIIF spokesperson declined to NIIF manages over $4.9 billion in equity commitments across four distinct funds: the Master Fund (infrastructure), Private Markets Fund (fund of funds), Strategic Opportunities Fund (growth equity), and India-Japan is also launching its Master Fund II in a couple of months, targeting a commitment of about $4 investor base comprises a diverse group of sovereign wealth funds, pension funds, multilateral development banks, and government counterparts. Prominent backers include the Abu Dhabi Investment Authority (ADIA), Singapore's Temasek, Australian Super, Ontario Teachers' Pension Plan, Canada Pension Plan Investment Board (CPPIB), Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), New Development Bank (NDB), and the Japan Bank for International Cooperation (JBIC).
Time of India
10-07-2025
- Business
- Time of India
NIIF to make a $700-million first closure of $1 billion Private Markets Fund II
The National Investment and Infrastructure Fund ( NIIF ), a quasi-sovereign investment manager backed by the Centre, is set to complete a $700-million first closure of its latest Private Markets Fund (PMF II) within the next month, according to sources familiar with the development. This initial close marks a significant increase compared with the debut fund, PMF I, which raised $600 million in 2019. This week, the New Development Bank (NDB), a Shanghai-based multilateral development bank established by the BRICS nations—Brazil, Russia, India, China, and South Africa—committed $100 million to PMF II. The Asian Infrastructure Investment Bank (AIIB), which had backed PMF I, also reaffirmed its support with a $125 million commitment in May. The government will remain the single largest investor in PMF II, contributing 49% of the total capital. ET first reported in April last year about the launch of $1-billion PMF II. Live Events The Private Markets Fund is dedicated to supporting India-focused private equity and venture capital funds. With a target size of $1 billion, PMF II aims to invest across key growth sectors, including electric vehicle (EV) infrastructure, waste management, urban and social infrastructure, technology, manufacturing, and their associated supply chains. Mirroring the structure of PMF I, PMF II plans to build a diversified portfolio comprising approximately 15 funds as well as direct investments in companies. About 75% of the fund's capital will be allocated to growth and venture capital funds, with the remaining 25% invested directly into Indian enterprises, added sources. Since its inception, PMF I has deployed $600 million across 60 companies through nine portfolio funds. It has backed notable funds such as Multiples PE (owned by Renuka Ramnath), Lighthouse India, Invascent, Eversource Capital, Somerset Healthcare, Arpwood Partners, Yournest Capital Advisors, HDFC Capital Advisors, and Amicus Capital Partners. Last year, GoI had appointed Sanjiv Aggarwal as Chief Executive Officer & Managing Director. Agarwal, a former Partner at UK's infrastructure fund Actis, replaced Sujoy Bose, first managing director & chief executive officer of NIIF. The Private Markets Fund is headed by managing partner Anand Unnikrishnan, who joined NIIF in 2018. Prior to joining NIIF, Anand was a senior member of Macquarie Infrastructure and Real Assets (MIRA) team in India for about 10 years. When contacted, an NIIF spokesperson declined to comment. Overall, NIIF manages over $4.9 billion in equity commitments across four distinct funds: the Master Fund (infrastructure), Private Markets Fund (fund of funds), Strategic Opportunities Fund (growth equity), and India-Japan Fund. NIIF is also launching its Master Fund II in a couple of months, targeting a commitment of about $4 billion. NIIF's investor base comprises a diverse group of sovereign wealth funds, pension funds, multilateral development banks, and government counterparts. Prominent backers include the Abu Dhabi Investment Authority (ADIA), Singapore's Temasek, Australian Super, Ontario Teachers' Pension Plan, Canada Pension Plan Investment Board (CPPIB), Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), New Development Bank (NDB), and the Japan Bank for International Cooperation (JBIC).
Reuters
11-02-2025
- Business
- Reuters
India must ease rules for domestic investors, Multiples Asset Management CEO says
NEW DELHI/MUMBAI Feb 11 (Reuters) - India must simplify rules for domestic funds investing in local companies to ensure a level-playing field with foreign peers, Renuka Ramnath, the founder and CEO of Multiples Asset Management said on Tuesday. The Mumbai-based Multiples is one of India's leading private equity investors. Founded in 2009 by Ramnath, Multiples has an investment portfolio that includes companies such as Delhivery ( opens new tab and Dream 11. The firm manages around $3 billion in assets across 30 companies via four funds. The fund plans to invest $2 billion in India's technology sector over the next five years. More than 90% of control transactions, or deals involving a change of ownership of a company, are currently being done by foreign funds, Ramnath, a former chairperson of Indian Venture Capital Association, said. "(This happens) not because local funds don't have the capability, but they don't have the avenue to do it," she said. The markets regulator's rules on co-investments by Indian funds into local companies and restrictions on Indian banks, insurance companies and pension funds from investing in local companies lead to "missed opportunities", she said. The regulator's new rules for co-investments by portfolio management services, introduced in 2022, have led to complications in deal structuring and documentation, according to Ramnath. Get the latest news from India and how it matters to the world with the Reuters India File newsletter. Sign up here.
