“It’s exciting to have got this opportunity to work with HDFC Bank which has stepped up its presence in the investment banking space over the last couple of years:” D’Souza said.
HDFC Bank has appointed Donald D’Souza as its head of equity capital markets in the investment banking division. He will be responsible for building the equity capital markets business that includes origination and execution of capital raising mandates. He will report to Rakesh Singh, head, investment banking. He is an IIM-Ahmedabad graduate and has been part of the Indian investment banking space for the around 17 years.
He joins HDFC Bank from IIFL, where he was president, investment banking. Earlier, he has held key positions in Kotak, CLSA and JM Financial. He has worked with some of India's leading corporates and private equity groups and has expertise in most equity products in investment banking including IPOs, QIPs, Rights, GDRs/ADRs, block deals, mergers and acquisitions and private equity.
Welcoming Mr D’Souza, Mr Singh said, “We are delighted to have Donald at the helm of our equity capital markets practice, which has evolved to be an extremely important business for us. He has built a strong set of relationships with some of India's leading corporates and private equity groups and enjoys respect in the eyes of his colleagues and peers. Donald’s long stint and rich experience of the industry will help us scale new heights.”
Commenting on his appointment, Mr. D’Souza said, “It’s exciting to have got this opportunity to work with HDFC Bank which has stepped up its presence in the investment banking space over the last couple of years. We shall strive to leverage its vast corporate banking relationships and add value by offering specialized, long-term solutions to build relationships on trust and commitment."
‘Foreign venture capital investors are allowed to invest in eligible securities by way of private arrangements or purchase from a third party,’ a RBI circular said.
In its bid to deepen the equity and debt markets by attracting overseas funds, the Reserve Bank allowed foreign venture capital investors to invest in securities through private arrangements or purchase from a third party.
"It has now been decided to allow foreign venture capital investors to invest in eligible securities (equity, equity-linked instruments, debt and debt instruments, debentures of a domestic venture capital undertaking or VC funds, units of schemes/funds set up by a VC fund) by way of private arrangements or purchase from a third party also," a Reserve Bank circular said.
Under the existing rules, market regulator Sebi- registered foreign VC investors are allowed to invest in these instruments through initial public offerings or through private placements. Also, they can invest in units of schemes or funds set up by a fund.
Further to this, such investors would also be allowed to invest in securities subject to the provisions of the Sebi regulations, 2000, the notification said.
The RBI further said necessary amendments to foreign exchange management (transfer or issue of security by a person resident outside India) regulations of 2000 are being notified separately.
These changes are begin brought in under Sections 10(4) and 11(1) of the Foreign Exchange Management Act of 1999, it said.
Mukul Roy, who parried questions on what he plans to do about the hike said, “Whatever I have to say I will say in Parliament as the Railway Budget is the property of Parliament”
New Delhi: Trinamool Congress leader Mukul Roy was Tuesday elevated to cabinet rank to take over as India’s railway minister replacing Dinesh Trivedi, who was forced to resign after Congress succumbed to Mamata Banerjee’s pressure, reports PTI.
Widely expected to roll back at least the lower class passenger fare hike proposed by Mr Trivedi in the Railway Budget, Mr Roy, 57, was sworn in as cabinet minister at a special but brief ceremony by president Pratibha Patil at the Rashtrapati Bhawan.
He was currently serving as Union minister of state for shipping and had earlier served as minister of state in the railway ministry before Mr Trivedi took over last July.
The ceremony was attended by vice-president Hamid Ansari, prime minister Manmohan Singh, the UPA chairperson and cabinet ministers including ministers of Trinamool Congress.
Mr Trivedi was forced out by Trinamool Congress after he incurred the wrath of party chief and West Bengal chief minister Mamata Banerjee who was opposed to his proposal to increase fares in the Railway Budget last Wednesday. Mr Trivedi resigned on Sunday.
The Congress leadership caved in to the Trinamool demand for replacing him with Mr Roy.
On Monday, Ms Banerjee had indicated that the hike in the lower class fares proposed in the Railway budget may be rolled back.
Meanwhile, Mukul Roy today parried questions on what he plans to do about the hike.
“Whatever I have to say I will say in Parliament as the Railway Budget is the property of Parliament,” Mr Roy said.
He was asked if there will be any roll back in the hike in passenger fares.
“Since I am the railway minister, I will reply to the debate,” he said
“Safety, security and punctuality will be my priority as the railway minister,” he said shortly after being sworn in as a minister.