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Yahoo
2 days ago
- Business
- Yahoo
Temasek eyes bolder, selective India bets as market matures
By Apoorva Ajith (Bloomberg) — Temasek Holdings Pte is looking to place bigger bets on fewer Indian companies to boost returns on its US$50 billion local portfolio in a rapidly growing market where exiting investments has become easier. 'The market is getting bigger and bigger, so we need to concentrate,' said Ravi Lambah, who heads the India operations and strategic initiatives of the Singapore sovereign wealth fund that has been investing in the country for over two decades now. Its portfolio swelled by US$13 billion or 35 per cent this year on a mix of capital appreciation and fresh investments. Predictable regulations, steady economic growth and a bullish stock market has had global sovereign funds and pension funds plowing billions of dollars and making handsome returns in the world's most populous nation over the last few years. And as the market matures, Temasek – which counts Bharti Airtel among its major investments through arm Singapore Telecommunications – is refining its strategy by focusing on fewer themes in a market that has been its star performer over the last decade. 'Today you can buy equities worth a billion dollars and the stock doesn't move much,' said Lambah, who sees big opportunities in areas like consumption, financial services, healthcare, sustainability, transportation and industrials. India's share in the firm's overall portfolio value has been increasing over the years. Temasek is also looking to partner more with family-run businesses as it seeks to commit billions more into the country. 'When we partner with families, they have longevity of capital,' Lambah said, as Temasek does not have a pre-defined life for its funds. Early signs of this trend are visible, with Temasek picking up a minority stake in Haldiram Snacks Food Pvt. Ltd in March and its portfolio company Manipal Hospitals acquiring hospital chain Sahyadri Hospitals in Western India. It has also invested in Dr Agarwal's Health Care, an eye care chain, which got listed in January. India's US$5 trillion stock market has seen a flood of investments from retail investors through equity mutual funds. Last month, inflows through monthly investment schemes hit a record 272.7 billion rupees (US$3.2 billion). Over US$6 billion has been raised from initial public offerings so far this year. A buoyant equity market gives comfort that 'when we want to exit, the market will give us opportunity,' Lambah said. More stories like this are available on ©2025 Bloomberg L.P.
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Business Standard
2 days ago
- Business
- Business Standard
Stock Market LIVE: GIFT Nifty muted; Asia mixed; China Q2 GDP, Q1 nos. eyed
Sensex Today | Stock Market LIVE on Tuesday, July 15, 2025: Around 6:35 AM, GIFT Nifty futures were trading 4 points higher at 25,171, indicating a muted start for the bourses. 7:09 AM Stock Market LIVE Updates: Temasek's India exposure hits $50 bn, eyes $3-4 bn annual investments Stock Market LIVE Updates: Temasek Holdings, the Singapore government-owned investment firm, has increased its exposure to India to more than $50 billion as of March this year, up from $37 billion a year earlier, reinforcing its confidence in the country's long-term economic trajectory. The investment firm plans to deploy $3 billion-4 billion annually in India, a senior executive said in an interview with Business Standard. 'We are long-term investors,' said Ravi Lambah, head of India and strategic initiatives, here on Monday. READ MORE 7:04 AM Stock Market LIVE Updates: President Donald Trump on Monday threatened to impose 'secondary tariffs' on Russia's trade partners 'at about 100 per cent' if President Vladimir Putin does not agree to a deal to end his invasion of Ukraine in 50 days. 'We're very, very unhappy with them, and we're going to be doing very severe tariffs, if you don't have a deal in 50 days, tariffs at about 100 per cent, they call them secondary tariffs,' Trump said from the White House while meeting with NATO's secretary general, Mark Rutte. The president said that he is 'disappointed' with Putin, because he thought they would have had a deal months ago. If a ceasefire deal is not reached by September, said Trump, 'we're going to be doing secondary tariffs.' Trump also announced Monday that the United States would send 'billions of dollars worth of military equipment' purchased from American companies, paid for by European countries and delivered to NATO allies to be sent on to Ukraine. Trump's announcement — coupled with the secondary tariff threat against Russia — marks a shift in the president's support for Ukraine, and underscores his growing frustration with the Russian leader. 7:03 AM Stock Market LIVE Updates: Electric two-wheeler firms in talks with govt for localisation relief Stock Market LIVE Updates: Electric two-wheeler (e2W) firms have approached the Ministry of Heavy Industries (MHI), seeking exemptions from including electric motors in the localisation calculations under the production-linked incentive (PLI) scheme for automobile and auto components — and from the phased manufacturing programme (PMP) localisation requirement for subsidy eligibility under the PM Electric Drive Revolution in Innovative Vehicle Enhancement scheme. In a meeting with the MHI, 2W companies told the government that their stock of rare earth magnets is dwindling, leaving them with no option but to import electric motors — already fitted with rare earth magnets — directly from China. Earlier, many companies would import the magnets from China and assemble the motors locally. READ MORE 7:02 AM Stock Market LIVE Updates: India-US trade talks moving fast as fresh deadline nears: Piyush Goyal Stock Market LIVE Updates: Commerce and Industry Minister Piyush Goyal on Monday said that talks between India and the United States (US) are progressing rapidly, at a time when negotiators from New Delhi have arrived in Washington for a week-long round of intense discussions. 'Trade talks between the two nations are going at a fast pace, in the spirit of mutual cooperation, so that we can come out with a win-win agreement,' Goyal said. A team of officials headed by Chief Negotiator and Commerce Department Special Secretary Rajesh Agrawal are back in Washington—less than two weeks after the conclusion of the previous round of talks. Thereafter, the US administration extended the deadline for the imposition of country-specific reciprocal tariffs by three weeks to 31 July. READ MORE 6:59 AM Stock Market LIVE Updates: US markets end higher on Monday Connect with us on WhatsApp
Straits Times
2 days ago
- Business
- Straits Times
Temasek eyes bolder, selective bets in India as market matures
Find out what's new on ST website and app. Temasek's portfolio swelled by US$13 billion or 35 per cent in 2025 on a mix of capital appreciation and fresh investments. Temasek Holdings is looking to place bigger bets on fewer Indian companies to boost returns on its US$50 billion (S$64.13 billion) local portfolio in a rapidly growing market where exiting investments has become easier. 'The market is getting bigger and bigger, so we need to concentrate,' said Mr Ravi Lambah, who heads the India operations and strategic initiatives of the Singapore sovereign wealth fund that has been investing in the country for over two decades now. Its portfolio swelled by US$13 billion or 35 per cent in 2025 on a mix of capital appreciation and fresh investments. Predictable regulations, steady economic growth and a bullish stock market has had global sovereign funds and pension funds ploughing billions of dollars and making handsome returns in the world's most populous nation over the last few years. And as the market matures, Temasek – which counts Bharti Airtel among its major investments through arm Singapore Telecommunications – is refining its strategy by focusing on fewer themes in a market that has been its star performer over the last decade. 'Today you can buy equities worth a billion dollars and the stock doesn't move much,' said Mr Lambah, who sees big opportunities in areas like consumption, financial services, healthcare, sustainability, transportation and industrials. Temasek is also looking to partner more with family-run businesses as it seeks to commit billions more into India. Top stories Swipe. Select. Stay informed. World Trump arms Ukraine and threatens sanctions on countries that buy Russian oil Multimedia From local to global: What made top news in Singapore over the last 180 years? Singapore Turning tragedy into advocacy: Woman finds new purpose after paralysis Singapore HSA intensifies crackdown on vapes; young suspected Kpod peddlers nabbed in Bishan, Yishun Opinion Sumiko at 61: When beauty fades, why do some accept it better than others? Singapore Man charged over distributing nearly 3 tonnes of vapes in one day in Bishan, Ubi Avenue 3 Singapore Man allegedly attacks woman with knife at Kallang Wave Mall, to be charged with attempted murder Singapore Ex-cop charged after he allegedly went on MHA portal, unlawfully shared info with man 'When we partner with families, they have longevity of capital,' Mr Lambah said, as Temasek does not have a pre-defined life for its funds. Early signs of this trend are visible, with Temasek picking up a minority stake in Haldiram Snacks Food in March and its portfolio company Manipal Hospitals acquiring hospital chain Sahyadri Hospitals in Western India. It has also invested in Dr Agarwal's Health Care, an eye care chain, which got listed in January. India's US$5 trillion stock market has seen a flood of investments from retail investors through equity mutual funds. In June, inflows through monthly investment schemes hit a record 272.7 billion rupees (S$4.1 billion). A buoyant equity market gives comfort that 'when we want to exit, the market will give us opportunity,' Mr Lambah said. BLOOMBERG
Mint
3 days ago
- Business
- Mint
Temasek hits $50 billion milestone in India—eyes bigger, more concentrated bets
Next Story Sneha Shah , Ranjani Raghavan The Singapore state investor expects to continue making large bets in India, with an investment sweet spot of $200-250 million. Ravi Lambah, head, strategic initiatives and head, India, for Temasek. (Bloomberg) Gift this article MUMBAI :Temasek Holdings will make concentrated and larger bets in India, a top executive said as the Singapore state investor hit a record $50 billion assets under management with its portfolio in India. Temasek Holdings will make concentrated and larger bets in India, a top executive said as the Singapore state investor hit a record $50 billion assets under management with its portfolio in India. The firm is likely to maintain its pace of deploying capital this year, averaging around $3 billion, said Ravi Lambah, head, strategic initiatives and head, India, for Temasek, in an interview with Mint. Last year, Temasek put $3 billion to work in public and private markets in India. In 2023, Temasek had said that it expected to invest around $10 billion in India over three years. 'The threshold for investment across the board has increased," said Lambah. Temasek is now in favour of bigger, more concentrated bets that will help the firm manage its growing portfolio better, he added. The investment firm also sees rising opportunities in backing family-run businesses, where it has found its strength and sweet spot in recent years. Last year, Temasek invested more than $1 billion for a 10% stake in Agarwal family-backed Haldiram Food International Pvt. Ltd, and around $2 billion for a majority control of Pai-family operated Manipal Health Enterprises. Temasek expects to continue making similar larger bets, with its sweet spot in investment size measuring $200-250 million. 'But $50 million investments would be a huge exception, just because we don't have the capacity to manage such a large portfolio with many small counters anymore," Lambah said. Temasek, being a state sponsored investment firm, has a lower cost of capital than many of its private equity peers, giving it an edge to pay top dollars for companies it believes will compound over the long term. 'Our cost of capital is not very low as compared to others. Having said that, we will more likely pay more for investments where we have a strong established thesis and a clear path of seeing it compounding well for us," Lambah said. This may mean that in the technology and digital sector, Temasek may skip Series B or Series C investment rounds, opting for later-stage Series D and Series E investment rounds, Lambah said. A sweet run Temasek has had mixed success with its early bets in India, with some of its portfolio companies such as Unacademy and Fi Money facing growth headwinds. Also, India does not have many early-stage opportunities that can attract an investor like Temasek. 'There is an early technology team (that sits out of Singapore and West Coast of US) that is very focussed on the technology space and artificial intelligence. Those opportunities (in deep tech) we don't see in India yet," Lambah added. But so far this year, the investor has had a sweet run with its India portfolio soaring to $50 billion, up from $37 billion last year. This is a consequence of growth in underlying portfolio value and putting in new capital. 'You will see us putting more capital in companies where we see compound returns over a long period of time," he said. Apart from India, Temasek largely invests across the US, Singapore, and China, and has recently begun increasing exposure to Japan, Lambah said. India is going through a positive macro condition for a sustained period of time, which is providing a positive certainty. Capital markets are also getting more efficient and deeper. 'All of this is obviously a consequence of policy, execution and oversight, creating a more business friendly environment," Lambah said. The deepening of public markets has allowed Temasek to also book profits. Over the past year, the investment firm has made divestments of about $1 billion, including by exiting its stake in O2 Power, its joint venture with EQT, to JSW Neo Energy. Topics You May Be Interested In Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Bloomberg
3 days ago
- Business
- Bloomberg
Temasek Eyes Bolder, Selective Bets in India as Market Matures
By , Alex Gabriel Simon, and Baiju Kalesh Save Temasek Holdings Pte is looking to place bigger bets on fewer Indian companies to boost returns on its $50 billion local portfolio in a rapidly growing market where exiting investments has become easier. 'The market is getting bigger and bigger, so we need to concentrate,' said Ravi Lambah, who heads the India operations and strategic initiatives of the Singapore sovereign wealth fund that has been investing in the country for over two decades now.
