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Nvidia insiders sold over $1 billion in stock amid market surge: Report
More than $500 million of the share sales took place this month as the California-based chips designer's share price climbed to an all-time high, the report said
Reuters
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Time of India
18 minutes ago
- Time of India
Signature Global to invest Rs 2,200 cr on new housing project in Gurugram
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Realty firm Signature Global will invest around Rs 2,200 crore to develop a new housing project in Gurugram to expand business and achieve over 20 per cent growth in its pre-sales this fiscal company has recently launched a premium residential project, 'Cloverdale', comprising 770 apartments, on Southern Peripheral Road (SPR), Sector 71, Global emerged as the fifth largest listed real estate developer last fiscal in terms of sales bookings by achieving record pre-sales of Rs 10,290 Gurugram-based company has given a guidance of posting Rs 12,500 crore worth pre-sales in the current fiscal."We have launched a new housing project in Gurugram. Housing demand continues to be strong in this city, especially for reputed builders," Signature Global Chairman Pradeep Kumar Aggarwal told company is selling homes in a price range of Rs 4 crore to Rs 7 crore in this project, which is spread over 8 acres and is part of an overall 22-acre project is scheduled to be completed by month, Aggarwal said the company will invest around Rs 4,000 crore this fiscal to acquire land parcels and carry out construction activities in its housing projects at Global had invested Rs 1,070 crore last fiscal year to purchase 48 acres of land in Gurugram, Haryana."Land is an important raw material for real estate developers. We will be investing around Rs 1,200-1,500 crore on the acquisition of land parcels," he had said the investment in construction activities would be around Rs 2,500 crore in 2025-26 against Rs 1,900 crore in the preceding week, Signature Global announced plans to raise Rs 875 crore through issue of non-convertible debentures to refinance debt and expand business."We have taken the approval of board to raise funds. We will also seek shareholders approvals," Aggarwal said the company will use Rs 450 crore to refinance its existing debt while the remaining amount will be for business said the company is targeting to raise funds by end of August, subject to shareholders' Global, one of the leading real estate developers in the country, started its business to develop affordable housing projects but shifted its focusing on mid-income, premium and luxury segments because of high land cost in posted a net profit of Rs 101.2 crore last fiscal, a sharp jump from Rs 16.32 crore in the preceding total income grew to Rs 2,637.99 crore in the last fiscal from Rs 1,324.55 crore in inception, Signature Global has delivered 13.5 million square feet of housing projects and has a strong pipeline of about 21.6 million sq ft of saleable area in upcoming projects, along with 46.38 million sq ft of ongoing projects, targeted for completion within the next 2-3 years.
Mint
28 minutes ago
- Mint
After Wakefit, Verlinvest lines up Purplle and Veeba for IPOs
One down, at least two more to go. After Verlinvest SA's portfolio company Wakefit Innovations Ltd filed for an IPO last week, the Belgium-based investment firm is queuing up beauty products platform Purplle and condiments maker Veeba for the public markets. At least two more consumer startups from the investment firm's India portfolio could go public over the next two years, said Arjun Anand, executive director at Verlinvest. Wakefit, which sells mattresses, beds, sofas, and home furnishings, filed for a ₹468.2 crore initial public offering last week. Verlinvest is now preparing some of its mature investments, including Purplle and Veeba, for a public market debut, Anand told Mint, adding that both these companies have crossed ₹1,000 crore in annual revenue. Veeba and Purplle have not yet filed their financials for 2024-25. While Wakefit is in an advanced stage of going public, Veeba and Purplle are likely to consider a listing over the next two years, Anand added. 'That's how the flywheel works," said Anand. 'Four to five mature companies will exit, three to four new ones will enter, and we will double down on the rest, just like we did with Blue Tokai." Verlinvest invested a second tranche of $9 million in Blue Tokai Coffee Roasters this month, after putting in $20-21 million last year in the cafe and coffee brand. Mint reported in January that the firm was planning to participate in a fresh investment round in pet care brand Heads Up For Tails. Verlinvest's other investments in India include yoghurt brand Epigamia and fertility services chain Ferty9. It previously also backed edtech platform Byju's. As part of its plan to add 2-3 brands to its India portfolio every year, Verlinvest is actively scouting segments such as healthcare services, food and beverage, beauty, and experiential lifestyle for fresh investments, according to Anand. Purplle, founded in 2012, has raised more than $500 million. In October, the beauty products retailer announced closing its Series F funding round at ₹1,500 crore (about $175,000), led by Abu Dhabi Investment Authority. In July last year, Purplle said it had raised ₹1,000 crore in a funding round led by an arm of ADIA at a valuation of $1.25 billion. Its other investors include Blume Ventures, billionaire Azim Premji's Premji Invest, and Sharrp Ventures. Veeba, also founded in 2012, sells sauces, dips, and other condiments. According to market research platform Tracxn, Veeba has raised $58.3 million from investors including Verlinvest, DSG Consumer Partners, and Saama Capital, and is currently valued at about ₹1,860 crore (about $217 million). Purplle declined to comment on its IPO plans. Veeba didn't immediately reply to Mint's email. Verlinvest's flywheel Founded in 1995 by the family promoters of Belgium's AB InBev, the world's largest beer company, Verlinvest invests in consumer companies across Asia, Australia, Europe, and North America. Unlike most private equity or venture capital funds, Verlinvest does not raise capital in cycles or return capital to limited partners, who are investors in PE and VC funds. Instead, it invests permanent capital from its founding shareholders and recycles gains from successful share sales into new investments. 'Our structure gives us flexibility on timelines. We are not bound by fund life," Anand said. 'We can keep putting more capital into a company over time, and exit when the market is ready." Verlinvest's approach 'gives founders breathing room to build products and expand distribution networks genuinely, rather than chasing quick returns", said Roma Priya, founder of Burgeon Law, which counts both established and emerging businesses among its clients. 'That aligns well with India's consumer brand landscape, where long-term development often wins over fast scale." India's public market has recently seen a pipeline of consumer-facing companies joining the IPO queue, following in the footsteps FSN E-Commerce Ventures Ltd (Nykaa) and Honasa Consumer (Mamaearth), both beauty products retailers, and electric scooter maker Ather Energy. Eyewear retailer Lenskart, online meat seller Licious, electronics and wearables maker boAt, and stock-broking platform Groww are also planning to ride the resurgence in India's IPO market. 'India had the highest number of IPOs in the Asia-Pacific region recently, and over 90 companies have already filed to go public," said Priya. 'For global investors, this signals better exit opportunities driven by improved market sentiment, regulatory support, and a maturing base of Indian retail and institutional investors." Per Wakefit's IPO filing, Verlinvest plans to offload about 10.19 million shares purchased at ₹82.67 apiece, signalling a lucrative investment exit for the firm. Earlier this year, Verlinvest sold its remaining 12% stake in Sula Vineyards Ltd, which made its public market debut in December 2022, and trimmed its holding in Purplle from 17% to 10% through a secondary transaction involving the Abu Dhabi Investment Authority (ADIA). 'Sula returned over 4-5x on our investment, and Purplle also delivered extremely high returns," said Anand. 'Because the exits did well, we are in a strong position to reinvest and scale up."
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Business Standard
an hour ago
- Business Standard
Signature Global to invest ₹2,200 cr on new housing project in Gurugram
Realty firm Signature Global will invest around ₹2,200 crore to develop a new housing project in Gurugram to expand business and achieve over 20 per cent growth in its pre-sales this fiscal year. The company has recently launched a premium residential project, 'Cloverdale', comprising 770 apartments, on Southern Peripheral Road (SPR), Sector 71, Gurugram. Signature Global emerged as the fifth largest listed real estate developer last fiscal in terms of sales bookings by achieving record pre-sales of Rs 10,290 crore. The Gurugram-based company has given a guidance of posting ₹12,500 crore worth pre-sales in the current fiscal. "We have launched a new housing project in Gurugram. Housing demand continues to be strong in this city, especially for reputed builders," Signature Global Chairman Pradeep Kumar Aggarwal told PTI. The company is selling homes in a price range of Rs 4 crore to Rs 7 crore in this project, which is spread over 8 acres and is part of an overall 22-acre development. The project is scheduled to be completed by 2031. Last month, Aggarwal said the company will invest around Rs 4,000 crore this fiscal to acquire land parcels and carry out construction activities in its housing projects at Gurugram. Signature Global had invested Rs 1,070 crore last fiscal year to purchase 48 acres of land in Gurugram, Haryana. "Land is an important raw material for real estate developers. We will be investing around Rs 1,200-1,500 crore on the acquisition of land parcels," he had said. Aggarwal said the investment in construction activities would be around Rs 2,500 crore in 2025-26 against Rs 1,900 crore in the preceding fiscal. Last week, Signature Global announced plans to raise Rs 875 crore through issue of non-convertible debentures to refinance debt and expand business. "We have taken the approval of board to raise funds. We will also seek shareholders approvals," Aggarwal said. He said the company will use Rs 450 crore to refinance its existing debt while the remaining amount will be for business growth. Aggarwal said the company is targeting to raise funds by end of August, subject to shareholders' approval. Signature Global, one of the leading real estate developers in the country, started its business to develop affordable housing projects but shifted its focusing on mid-income, premium and luxury segments because of high land cost in Gurugram. It posted a net profit of Rs 101.2 crore last fiscal, a sharp jump from Rs 16.32 crore in the preceding year. Its total income grew to Rs 2,637.99 crore in the last fiscal from Rs 1,324.55 crore in 2023-24. Since inception, Signature Global has delivered 13.5 million square feet of housing projects and has a strong pipeline of about 21.6 million sq ft of saleable area in upcoming projects, along with 46.38 million sq ft of ongoing projects, targeted for completion within the next 2-3 years.
