EQT completes acquisition of Niwas Housing Finance
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Swedish fund EQT has completed the acquisition of Niwas Housing Finance Limited, formerly known as Indostar Home Finance , from IndoStar Capital Finance Limited, according to a company statement.EQT will invest Rs 500 crore ($58 million) as growth capital to support geographic expansion and enhance digital capabilities of Niwas.Founded in 2017, Niwas provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported over 47,000 low income homeowners and small businesses, it said.Niwas has AUM of over Rs 3000 crore as of 31 March 2025, comprising granular, retail, and secured loans.K.R. Kamath, Chairperson of the newly constituted Board of Niwas Housing Finance, added: 'Niwas is well-positioned to expand access to home ownership in India. As we embark on this renewed journey of Niwas, I am confident that the new board's collective experience will provide valuable strategic guidance and oversight to the Company, ensuring Niwas scales responsibly, with customer-centricity and prudence at its core.'Hemant Sharma, a Partner in the EQT Private Capital Asia advisory team, said: 'India's retail lending sector continues to offer exciting opportunities and is a key investment theme for EQT in India."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
17 minutes ago
- India.com
Meet T-14 Armata Tank, super powerful war weapon offered by Russia to India, its features are..., Trump to...
New Delhi: US President Donald Trump is not happy with India and Russia's friendship and is threatening both countries with tariffs. Amidst this, the two countries are discussing a crucial defence deal that might further enrage Trump. What has Russia offered to India? Russia has offered to sell the next-generation T-14 Armata tanks to India to replace its ageing T-72 tanks with new tanks. Russia's offer includes domestic manufacturing in India under the Make in India programme. Armata tanks are made by the Russian company Uralvagonzavod, and the T-14 Armata is its most advanced tank. Uralvagonzavod has offered to design and develop this tank according to India's needs for its Next Generation Battle Tank (NGMBT) programme. For this, the Russian company has shown interest in partnering with Indian defence companies. What is the crux of the proposal? The proposal includes possible collaboration with India's Combat Vehicle Research and Development Establishment (CVRDE) or other public sector defence units. The proposal is strategically prepared according to India's 'Make-I' procurement category, which aims to increase India's indigenous production. Under this plan, the Government of India provides up to 70% of the funding for developing prototypes, which emphasises domestic manufacturing and technology transfer. Will India buy the advanced T-14 Armata tank? Uralvagonzavod had signed a technology transfer agreement with India for T-90S tanks, which are now manufactured in India as T-90 Bhishma. India uses more than 83 per cent domestic technology in the T-90S tank, including complete localisation of the tank's engine. Russian officials have also expressed their intention to work with India for the local production of the T-14 Armata tank project. Company officials have suggested that the T-14 Armata would be an ideal successor to replace the Indian Army's huge but ageing fleet of T-72 tanks. Why is T-14 Armata considered one of the most advanced tanks in the world? The T-14 Armata is considered one of the most advanced tanks in the world. It has many remotely operated functions, an armoured capsule for the crew, a state-of-the-art digital control system and an active protection system (APS) called 'Afghanit'. This system is capable of destroying the enemy's anti-tank missiles on the way. Three operators can sit inside this tank and destroy the enemy's anti-tank missiles and RPGs in the air. It has a millimetre-wave radar, which provides 360-degree protection. Guided missiles can also be fired from this tank up to 8–10 kilometres. The maximum speed of this tank is 75 to 80 kilometres per hour, and its range is 500 kilometres. The weight of this tank is 55 tonnes, and its cost is around Rs 30 to 42 crore. If it is manufactured in India, its cost will be reduced by at least Rs 10 crore.
Economic Times
33 minutes ago
- Economic Times
Indian semiconductor market may grow over two-fold to Rs 9.6 lakh crore by 2030
ETtech India's semiconductor market is expected to more than double to grow in the range of $100-110 billion by 2030 according to industry estimates, an official statement said on Sunday. The Indian semiconductor market was about $45-50 billion in 2024-2025 against $38 billion in 2023, the statement said, citing industry estimates. "As per industry estimates, the size of the Indian semiconductor market was about $38 billion in 2023, $45-50 billion in 2024-2025 and is expected to reach $100-110 billion by 2030," the statement said. A detailed statement highlighting the need for semiconductors, efforts of the government and response from the industry cited the crisis faced by various technology segments especially by the automobile industry due to dependency on select geographies during the Covid pandemic and stressed on the need for developing India as trusted partner in the global supply chain. "Currently, countries like Taiwan, South Korea, Japan, China and US dominate the semiconductor industry. Taiwan produces more than 60% of the world's semiconductors, including nearly 90% of the most advanced ones. "Such dependence on a single region has exposed global supply chains to significant risks - from pandemics and natural disasters to geopolitical tensions. Recognizing this challenge, many countries are now building secure and diversified supply chains," the statement said. The United States, European Union, Japan, and South Korea have launched national strategies to support domestic chip manufacturing and reduce over-reliance on a single region. "India is emerging as an important and trusted partner in this global shift," the statement said. The global semiconductor market is expected to reach $1 trillion by 2030, with India's market occupying a substantial portion of it. India has the capacity to emerge as a key contributor to the three primary pillars of the semiconductor manufacturing supply chain - equipment, materials and services and R&D. It stated that India can leverage a strong base of MSMEs to produce components for semiconductor equipment and it has a rich source of chemicals, minerals and gases which can be utilised by semiconductor supply chain companies. Services R&D, logistics and supply chain, major talent in AI, big data, cloud computing and IoT are major strengths, the statement said. The government has already launched India Semiconductor Mission in December 2021 with an outlay of Rs 76,000 crore to provide financial support for investments in semiconductor fabrication, display manufacturing & chip design to strengthen India's integration into global electronics value chains. Industry players including US memory chip maker Micron, Tata Electronics (TEPL) in partnership with Powerchip Semiconductor Manufacturing Corp (PSMC) of Taiwan, CG Power & Industrial Pvt Ltd in partnership with Renesas & Stars, Tata Semiconductor Assembly and Test Pvt Ltd (TSAT), Kaynes Semicon, HCL-Foxconn JV have committed a total investment of over Rs 1.55 lakh crore to produce semiconductors in India. The government under the ISM has made a Rs 1000 crore provision for Design Linked Incentive for chip design out of which it has committed Rs 234 crore financial support for eligible start-ups. "The government had committed the support of Rs 234 crore for the chip design projects from 22 companies with a total project cost of Rs 690 crore. These chips will be used in CCTV cameras, mobile networks, satellites, cars, smart devices, etc. The government under its vision for semiconductor ecosystem development supports Semicon India which is a flagship event organised in partnership with SEMI (Semiconductor Equipment and Materials International). The platform brings together global industry leaders, policymakers, academia, and startups to foster investment, dialogue, and strategic partnerships. "The 4th edition is to be held in Delhi from September 2-4th, 2025. Semicon India 2025 co-hosted by India Semiconductor Mission (ISM) and SEMI will be held from September 2-4, 2025, at Yashobhoomi (IICC), New Delhi. It is set to display India's redefining role in the global semiconductor ecosystem," the statement said. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Zomato delivered, but did the other listed unicorns? US tariff hike to hit Indian exports, may push RBI towards rate cuts Will TCS layoffs open the floodgates of mass firing at Indian IT firms? Indian IT firms never reveal the truth hiding behind 'strong' deal wins Is Bajaj Finance facing its HDFC Bank moment? Tata Motors' INR38k crore Iveco buy: Factors that can make investors nervous Stock Radar: Strides Pharma stock hits fresh 52-week high in July; will the rally continue in August? F&O Radar| Deploy Short Strangle in Nifty to gain from Theta decay For investors who can think beyond Trump: 5 large-cap stocks with an upside potential of up to 36%
India.com
an hour ago
- India.com
Masterstroke by Mukesh Ambani as Reliance to invest Rs 4300000000 in Bengaluru-based startup, it deals in..., name is...
Mukesh Ambani (File) In a significant decision which could provide a major boost to India's growing spacetech industry, Mukesh Ambani-led Reliance Industries is mulling to invest $50 million (about Rs 430 crore) in Digantara Research & Technologies, a Bengaluru-based spacetech startup, which is developing technology that can track objects in the Earth's orbit. How much is Mukesh Ambani Reliance Industries investing? According to a report by The Economic Times, Reliance Industries, India's most valued domestic firm led by billionaire Mukesh Ambani, is in advanced discussions to lead a Rs 430 crore funding round in Digantara, along with existing investors like Peak XV Partners. 'Reliance has evaluated multiple startups in the spacetech segment. It is looking at companies building novel solutions in the sector. Its talks with Digantara are at an advanced stage,' the report quoted a source familiar with the matter as saying. What does Digintara do? Co-founded by Anirudh Sharma (CEO), Rahul Rawat (COO), and Tanveer Ahmed (CTO), Digintara is a spacetech startup based in Bengaluru, working on the development of technologies which can track bjects in Earth's orbit. Earlier, in March, Digintara launched a satellite capable of tracking debris as small as 5 cm, and is currently providing services to defence agencies in both India and the United States, as per the report. According to the report, Digintara plans to deploy a constellation of about a dozen surveillance satellites by the end of 2026. The company has launched three satellites so far, one of which is part of the proposed satellite constellation. A major chunk of the upcoming funding round will be dedicated in developing and launching these satellites. 'Given the volatility in global geopolitics, every country is focused on having its own indigenous sovereign solutions that can be controlled in times of crisis. That's where the opportunity lies for startups like Digantara,' the report quoted a source as saying. The company established a manufacturing and operations facility in the US in February 2024, and expects to earn a revenue of $25–30 million (Rs 220–260 crore) from its US operation in the next 2-3 years.
