City Gift Financial News

Adani Ports and Special Economic Zone Limited (APSEZL) on Monday incorporated a wholly owned subsidiary company “Udanvat Leasing IFSC Limited” which is involved in the business of owning and leasing of aircrafts, the company informed in an exchange filing. The new company is situated in GIFT City, Gandhinagar and is yet commence its operations, the Gautam Adani led company further said.

Tech giant Google Inc has picked up office space spread over an entire floor in Blackstone Group-owned Nucleus Office Parks' commercial tower Fintech One at the Gujarat International Finance Tec-City (GIFT) in Gandhinagar to set up its global fintech centre. The company's Indian arm, Google India, has picked up office space from Nucleus Office Parks through a long-term lease of 10 years, including an initial term of five years and an option to extend it for five additional years. In a virtual interaction on Monday, Prime Minister Narendra Modi welcomed Google's plans to open its global fintech operations centre at GIFT City. Sundar Pichai, CEO of Google and Alphabet, apprised Modi of Google's plans to work on strengthening financial inclusion in India by leveraging UPI. Pichai, through a social media post, thanked the Prime Minister Modi for a «terrific» meeting to discuss Google's ongoing commitment to India. ET's separate email queries to Google, Blackstone and Nucleus Office Parks remained unanswered until the time of going to press. Fintech One is a 20-storey commercial office tower with a typical floor plate spanning over 22,000 sq ft.

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Shipping firms, formerly based in Dubai or Singapore, have established subsidiaries in the GIFT City-headquartered IFSC, which has received as many as eight applications for ship leasing activities, a senior official said on Friday. He also said that the International Financial Services Centre (IFSC) provides a conducive business environment, a competitive tax regime and effective dispute resolution.

₹690.90 apiece, while Macrotech Developers shares gained as much as 3.20% to ₹773.95 apiece on the BSE. The Bengaluru-based property developer Sobha said it recorded sales worth ₹1,723.8 crore in the quarter ended September 2023, witnessing a growth of 48.1% from ₹1,164.2 crore in the year-ago quarter. The company posted the highest quarterly new sales area of 1.69 million sq ft in Q2FY24, up 26.1% YoY, with an average price realization of ₹10,223 per sq ft.

Sobha jumped 4% to the day's high of 688 on the NSE in Thursday's trade after the real estate company said that it recorded its highest-ever sales of Rs 1,724 crore for the quarter ended September 30, 2023. The sales surged 48% year-on-year (YoY), the company said in its filing to the exchanges.

finance and corporate affairs are at an advanced stage of firming up a much-awaited framework for direct listing of Indian companies abroad, which could be introduced later this financial year, said people with knowledge of the matter. The move would set the stage for unicorns and other entities to have easier access to a larger pool of foreign capital, they said, adding that it could also encourage a greater number of startups, with Indians at the helm, to incorporate within the country instead of jurisdictions like Singapore. Initially, the framework will be used to allow direct listing at the International Financial Services Centre (IFSC) at Gujarat's GIFT City. Subsequently, it will govern listings in other jurisdictions as and when the government decides to allow that, the people told ET. «The capital markets division of the Department of Economic Affairs (DEA) and the Ministry of Corporate Affairs (MCA) are firming up rules that will act as an enabler of the direct listing process.

Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City. This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC).

₹170 apiece as compared to its issue price of ₹160 per share. The initial public offering (IPO) of Kody Technolab Ltd, a software development services company, has received stellar response from investors during September 15 and September 20.

trading hours for equity derivatives, said three people with knowledge of the matter. The exchange is proposing an evening session, possibly between 6 pm and 9 pm, when market participants can continue trading futures and options contracts after the regular session between 9:15 am and 3:30 pm is over, said one of them. The NSE might consider extending this session to 11:30 pm at a later stage, the person said. The move to introduce longer trading hours is aimed at offering local traders an opportunity to react to global events sooner.

Amazon backed M1 Exchange, a dedicated platform for MSME trade receivables and bill discounting, will soon start a facility at the GIFT city for MSME exporters. M1 exchange’s trade platform has already received a licence from the Gujarat GIFT city regulator International Financial Services Centre Authority (IFSCA) along with three other platforms. The supply chain finance potential in global trade is estimated at $17 trillion.

New Delhi: The government has exempted units of investment trusts and exchange traded funds (ETFs) issued by entities based in GIFT City or traded in exchanges there from capital gains tax. The Central Board of Direct Taxes (CBDT) notified the exemption from capital gains tax any unit of investment trust; a unit of a scheme; and a unit of an ETF launched under the International Financial Services Centres Authority (Fund Management) Regulations, 2022.

DevX will be setting up Deakin University’s India campus in GIFT City, making it the first instance of an international university to set up a campus in the country. The company has partnered with Nila Infrastructure for the construction, while DevX itself will conceptualize, design, build and deliver the state-of-the-art futuristic 25,000 sq ft university campus. “We at DevX are proud to create the Deakin University India campus project in GIFT City.

Saudi Arabia on Monday said it will consider setting up an office of its sovereign wealth fund in GIFT City to facilitate investments. Saudi investment minister Khalid A. Al Falih said within the next few weeks, he would send a strong delegation to GIFT City to explore the opportunity.

NEW DELHI : India and the UK have launched an infrastructure financing bridge to plan and implement major infrastructure projects, finance minister Nirmala Sitharaman said on Monday. The two countries have also agreed to conduct investment negotiations in parallel with the goods negotiations to conclude their free trade agreement (FTA) talks.

New Delhi: Saudi Arabia said it will consider setting up an office of its sovereign wealth fund (SWF) in Gujarat International Finance Tec-City (GIFT) to facilitate investments. Investment minister of Saudi Arabia Khalid A.

India and Saudi Arabia can look at doubling bilateral trade to USD 100 billion in the coming years from about USD 52 billion at present, Commerce and Industry Minister Piyush Goyal said on Monday. He said the two countries can also look at a more balanced trade. The minister suggested Saudi Arabia to open an office of their sovereign wealth fund in GIFT city in Gujarat and industry chamber Ficci set up an office in Riyadh in partnership with Invest India, and the commerce ministry to facilitate investments. «Maybe this could be a way to kick-start a better flow of trade and investments and also to see how we can double our trade, which is currently about USD 52 billion. »Can we be more ambitious and take it to USD 100 billion, can we look at a more balanced trade, can we look at India becoming the provider of food security to Saudi Arabia, while Saudi Arabia helps us provide more energy security like oil and fertiliser.

₹900 crore. The funds will be used for research and development, particularly artificial intelligence and to scale its SaaS offerings, including the launch of new products, the Mumbai-based company stated.

IFSCA) will soon come out with regulations to help regulated entities ensure instant payment settlements, its chairman said on Wednesday. The authority is expecting final regulations for listing companies on the IFSC exchange to be in place within the next six months. «We are coming up with payments regulations shortly, maybe in the next few months.

Analysing the FDI Flow India's thriving economy has also attracted $46 billion in FDI during FY2023, registering a remarkable growth of 89% since FY2014. This warrants scrutiny of the jurisdictions contributing to this inflow.

What are some of the major projects in the pipeline? We are right now working on five more projects. Two of these data centre parks are coming up in Mumbai (Powai and Chandiwali). Both these projects are two buildings each with about 67 MW of IT power each.