Latest news with #SEBI-mandated
Time of India
11 hours ago
- Business
- Time of India
JSW Paints to buy Akzo Nobel India for Rs 8,986 crore
Mumbai: JSW Paints has agreed to acquire Akzo Nobel's India business, valuing the company at Rs 12,000 crore (approximately $1.1 billion). This will make the paint-maker the fourth-largest in the now highly competitive domestic paints market. Ending months of negotiations, JSW has agreed to pick up 74.76% stake in the Akzo Nobel India for Rs 8,986 crore, an over 17% discount to Thursday's price. ET in its May 26th edition was the first to report that JSW had agreed for the billion dollar acquisition – its largest so far and had entered in 'exclusive negotiations.' 'Akzo Nobel India is home to some of the most globally renowned brands of paints & coatings like Dulux, International and Sikkens,' managing director Parth Jindal was quoted in a release. 'We are excited to welcome them to the JSW family,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gujarat Mosquito Crisis Solved by Strange New Device (See How) Mosquito Eliminator Read More Undo JSW Paints has trumped bids from a consortium of Indigo Paints and Advent International, and adhesive manufacturer Pidilite Industries, as it sought to fortify its presence in the industrial paints segment, where it will now be the second-largest after Kansai Nerolac India. Morgan Stanley and Citi was the exclusive financial advisors for the deal. Live Events Apart from an approval from the Competition Commission of India, the deal will be subject to completion of a mandatory open offer to the shareholders of Akzo Nobel India. The SEBI-mandated open offer will be for a 26% stake to be purchased from minority shareholders of the company. Depending on the success of the open offer – price will be in accordance to the Sebi formula based on Thursday closing price – JSW will buy proportionate shares from Akzo. It will not cross the 75% threshold, which means the Dutch company can potentially retain a small stake. At 0942 IST, the shares were up nearly 6% at Rs 3,383.10/a piece on the BSE. After hitting a lifetime high of Rs 4,649/share in October last year, its shares have since seen correction, and are down nearly a third from their peak. Subdued demand conditions for the industry also weighed on the company's share prices as the sector saw annual demand fall for the first time in nearly three years amid higher competitive intensity. Akzo Nobel India has about a 7% market share in India currently. Akzo Nobel India, which sells under the 'Dulux' brand in India, has completed seven decades of operations in the country. 'With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector,' Greg Poux-Guillaume, the chief executive officer of AkzoNobel said. While JSW Paints, launched in 2019, was among the earliest conglomerates to foray in the paints sector, the company has not been able to garner substantial market share over the years. Five years after its launch, the company posted its first operating profit in fiscal 2024, on a revenue of Rs 2,000 crore. AkzoNobel had announced plans to review its business operations in the Indian subcontinent in October 2024. In February, Akzo Nobel India hived off and agreed to sell its powder coatings business—its most profitable stream that contributes 12-14% of sales--to its Dutch parents. That took the shine off the deal for several potential suitors The Aditya Birla Group's 'Birla Opus' meanwhile, commands a high single-digit market share in about a year since launching its operations in 2024. It is targeting a turnover of Rs 10,000 crore in three years of its operations. Currently pegged at around Rs 80,000 – Rs 90,000 crore, the Indian paint industry is expected to clock in a 10-12% growth in volumes over the next few years, led by an impetus on housing and higher discretionary incomes. As compared to paint companies which were stepping into the Indian market a few years back, the recent years have seen conglomerates enter the space.
News18
a day ago
- Business
- News18
Multi-Cap Vs Flexi-Cap Funds: Choosing the Right Fit for Your Portfolio
As per AMFI's May 2025 data, Multi-Cap funds saw a net inflow of Rs 2,999.29 crore, while Flexi-Cap funds received Rs 3,841.32 crore. As equity mutual funds continue to gain traction among Indian investors, understanding the difference between Flexi-Cap and Multi-Cap funds is crucial for informed investment decisions. Experts highlight that the key difference comes down to one word—freedom. According to Navy Vijay Ramavat, Managing Director at Indira Group, Multi-Cap funds follow a SEBI-mandated structure—requiring a minimum 25% allocation each to large-, mid-, and small-cap stocks. This rule ensures disciplined diversification across company sizes, helping balance performance across market cycles. However, this structure also limits a fund manager's flexibility in responding to market changes, which may increase the risk-reward intensity during volatile phases. On the other hand, Flexi-Cap funds offer complete flexibility, as long as at least 65% of the assets are invested in equities. Fund managers can adjust allocations based on market conditions—going all-in on large-caps during downturns or shifting focus to mid- and small-caps during rallies. 'My style aligns more with Flexi-Cap," said Ramavat. 'It allows me to move across segments depending on where I see opportunities." He added that sectors often matter more than market caps, and being nimble across segments creates opportunities—especially for short- to mid-term traders. 'Cash is also a position," he noted, highlighting the importance of timing and allocation. Echoing this, Manish Kumar Goyal, Chairman and Managing Director at Finkeda, emphasised that Multi-Cap funds are ideal for investors who seek stable and balanced diversification with a rule-based approach. 'Flexi-Cap funds are more suitable for those who want dynamic allocation based on market trends," he said. In summary: Multi-Cap = Stable, rule-based allocation across all caps Flexi-Cap = Dynamic, market-driven flexibility
Time of India
5 days ago
- Business
- Time of India
SIF vs mutual funds vs PMS vs AIFs: What you need to know
Looking for the best mutual funds to invest? Here are our recommendations. Mutual Funds (MFs) Mutual Funds are pooled investment vehicles regulated heavily by SEBI. They cater to retail investors and allow exposure to a broad set of asset classes such as equity, debt, and hybrid combinations. Key traits of Mutual Funds: Low entry barriers (SIPs can start at ₹500) Highly liquid with daily NAVs and redemption flexibility Standardised investment strategy (equity, debt, hybrid) Ideal for passive investors seeking low-to-moderate risk But their mass appeal also comes with limits — restricted customisation, fewer complex strategies, and a one-size-fits-most approach. Portfolio Management Services (PMS) PMS offerings are aimed at affluent investors looking for personalised strategies. They provide discretionary or advisory services for portfolios, usually managed by experienced fund managers. Highlights: Minimum ticket size: Rs 50 lakh High degree of personalisation based on goals and risk appetite Actively managed and bespoke asset allocation Lower liquidity than mutual funds Higher costs (including management and performance fees) Alternative Investment Funds (AIFs) – The High-Risk, High-Reward Engine AIFs are pooled investments operating in less-regulated, non-traditional spaces. This includes private equity, hedge funds, structured debt, and real estate. Key features: Minimum investment: Rs 1 crore Three categories: Category I (social impact, infra), Category II (private equity, debt), Category III (hedge funds) Less liquidity due to long lock-in periods Lower regulatory oversight Ideal for HNIs and institutional investors with higher risk tolerance While they offer unparalleled exposure to niche assets, the complexity and high barriers make AIFs inaccessible for most retail investors. Where do SIFs fit in? SIFs aim to bridge the structured simplicity of mutual funds with the customisation of PMS and the sophistication of AIFs. They allow fund managers more flexibility in asset selection — including unlisted securities, real estate, and structured debt — while operating under a stricter regulatory framework than AIFs. Structure and regulatory oversight SIFs follow SEBI-mandated norms for transparency, liquidity, and diversification. Unlike AIFs — which are largely unregulated in how they allocate capital — SIFs must: Adhere to strict portfolio disclosures Offer SIP/SWP options Stick to a single strategy category (equity, debt, or hybrid) per fund This ensures greater accountability and clarity for investors. Furthermore, the minimum investment threshold for SIFs is ₹10 lakh, striking a middle ground between mutual funds and PMS/AIFs. This makes them suitable for experienced investors who may not yet qualify as HNIs. Liquidity and tenure Liquidity is one of the core differentiators. Mutual Funds: Daily NAVs, instant redemptions PMS: Periodic exits, subject to portfolio's nature AIFs: Multi-year lock-ins; highly illiquid SIFs: Moderate liquidity — can be open-ended, closed-ended, or interval-based Investment flexibility and strategic depth Redemption periods for SIFs can extend up to 15 working days, allowing fund managers to manage liquidity prudently. SIFs are allowed to operate only one strategy per fund — either: Equity-oriented Debt-oriented Hybrid While this is limited compared to PMS or AIFs, it provides clarity and focus. This also prevents over-diversification within a single fund, which can dilute returns and increase risk unpredictability. Conclusion Specialised Investment Funds are a welcome innovation in India's investment universe. They offer a tailored investment approach for affluent and informed investors who seek: More flexibility than mutual funds Lower entry barriers than PMS or AIFs And a regulated, strategy-driven structure that balances control and innovation As Indian investors become more financially literate and seek nuanced products beyond vanilla funds, SIFs could become the new middle path, offering risk-calibrated sophistication for the next generation of wealth creators. (The author Chakravarthy V. is Cofounder & Executive Director, Prime Wealth Finserv. Views are own) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
