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<ul><li>Private equity firm <keyword id="44803" type="General" weightage="80" keywordseo="carlyle-group" source="Orion">Carlyle Group</keyword> announced the acquisition of a majority stake in <keyword id="3419" type="General" weightage="100" keywordseo="vlcc" source="Orion">VLCC</keyword>. </li><li>The New Delhi-based beauty and wellness solutions provider had earlier filed its draft red herring prospectus (DRHP) for an IPO twice. </li><li>The <keyword id="154947" type="General" weightage="80" keywordseo="carlyle" source="Orion">Carlyle</keyword> Group also announced that VLCC founder Vandana Luthra and chairman Mukesh Luthra will continue to hold a significant stake in the company. </li></ul>Private equity firm Carlyle Group has acquired a majority stake in the New Delhi-based beauty and wellness solutions provider VLCC, which had filed its draft red herring prospectus (DRHP) for an IPO twice, with the most recent being in August 2021. VLCC was<a href="https://economictimes.indiatimes.com/markets/ipos/fpos/vlcc-gearing-up-for-mid-year-ipo-launch/articleshow/90580725.cms"> headed</a> for an IPO in mid-2022, but it did not launch the issue and let its DRHP lapse. While the Carlyle Group did not disclose any financial terms of the acquisition, it said that the equity for the transaction will come from funds managed and advised by entities affiliated with Carlyle Asia Partners. The private equity firm also disclosed that it has invested over $5.5 billion in India as of September, 2022. “We plan to help VLCC accelerate growth through investments in brand building; product expansion; scaling its pan-India digital and e-commerce distribution channels; and expanding its local footprint of retail clinics,” said Amit Jain, managing director and co-head, Carlyle India Advisors. VLCC is a beauty and fitness chain established in 1989 and based in New Delhi. Founded by Vandana Luthra, the company has 210 retail clinics with a presence in 118 cities and 11 countries across South Asia, Middle East and Africa. It also operates 100 skill development institutes in India where it provides vocational training in the beauty and wellness segments. “We believe VLCC is well-positioned to capture a larger share of the fast-growing skincare, beauty and wellness market in the countries we operate in. We are delighted to have found in Carlyle a partner who shares our vision and plans for taking VLCC to its next level of growth,” said founder Vandana Luthra. <cmsannotation type="cmsannotation" annotationid="VLCC filed its papers for IPO twice" comment="subhead" text="VLCC filed its papers for IPO twice">VLCC filed its papers for IPO twice</cmsannotation> The beauty and wellness chain had filed its papers for an IPO twice – once in 2015, and then in 2021, according to data from market regulator Securities and Exchange Board of India (SEBI). In 2022, the company’s chairman Mukesh Luthra said in an interview with the<a href="https://m.economictimes.com/markets/ipos/fpos/vlcc-gearing-up-for-mid-year-ipo-launch/articleshow/90580725.cms"> Economic Times</a> that VLCC is aiming to go public in mid-2022, but that did not transpire. At the time, VLCC had planned to raise ₹850-900 crore from the IPO, which included a fresh issue of equity shares worth ₹300 crore, while the rest would be in the form of an offer for sale from promoter Mukesh Luthra, and investors OIH Mauritius and Leon International completely exiting their holdings. The Carlyle Group also announced that VLCC will appoint Gurveen Singh and J Suresh as independent directors. Suresh recently left Arvind Fashions. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/overall-demand-scenario-not-changed-significantly-but-europe-is-a-problem-says-tcs-ceo/articleshow/96859049.cms">Overall demand scenario not changed significantly but Europe is a problem says TCS CEO</a> <a href="https://www.businessinsider.in/india/news/indias-credit-worthiness-to-be-stable-in-2023-but-upcoming-elections-could-keep-social-spending-elevated-moodys/articleshow/96851926.cms">India’s credit worthiness to be stable in 2023, but upcoming elections could keep social spending elevated: Moody’s</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-reliance-jio-and-vodafone-idea-q3-earnings-preview-tariff-hikes-a-key-trigger/articleshow/96796094.cms">Churn and fewer 4G subscribers to slow down telecom revenue growth in Q3</a>

Carlyle Group acquires majority stake in VLCC, a beauty and wellness chain which was headed for an IPO

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> rose 13 paise to 81.61 against the US dollar in early trade on Wednesday supported by easing crude oil prices. Forex traders said sustained <keyword id="524976" type="General" weightage="20" keywordseo="foreign-fund-outflows" source="Orion">foreign fund outflows</keyword> and a weak trend in domestic equities weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.73 against the dollar, then gained ground to touch 81.61, registering a rise of 13 paise over its previous close. On Tuesday, the rupee settled at 81.74 against the US dollar. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, rose 0.08 per cent to 103.31. Brent crude futures, the global oil benchmark, fell 0.71 per cent to USD 79.53 per barrel. The rupee was the best performing Asian currency on Tuesday, IFA Global Research Academy said in a research note. "We have been highlighting that the RBI may buy reserves less aggressively now given that relative Rupee overvaluation has corrected significantly and banking system liquidity is in a considerable surplus," it said, adding that the rupee is likely to trade in a 81.50-81.80 range with downside bias. In the domestic equity market, the 30-share BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> was trading 76.13 points or 0.13 per cent lower at 60,039.35. The broader NSE Nifty fell 21.90 points or 0.12 per cent to 17,892.25. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 2,109.34 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/net-inflows-in-mf-schemes-up-three-times-at-7303-crore-in-december/articleshow/96881163.cms">Investors continue to SIP on equities: Net Inflows in MF schemes up three times at ₹7,303 crore in December</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/carlyle-group-acquires-majority-stake-in-vlcc-a-beauty-and-wellness-chain-which-was-headed-for-an-ipo/articleshow/96880486.cms">Carlyle Group acquires majority stake in VLCC, a beauty and wellness chain which was headed for an IPO</a>

Rupee gains 13 paise to 81.61 against US dollar

<ul><li>In December, inflows in <keyword id="97073" type="General" weightage="20" keywordseo="equity-mutual-fund" source="Orion">equity mutual fund</keyword> schemes increased three times at ₹7,303 crore from ₹2,258 crore in November, as per AMFI.</li><li>Inflows in <keyword id="511317" type="General" weightage="20" keywordseo="smallcap-funds" source="Orion">smallcap funds</keyword> and <keyword id="1604910" type="General" weightage="20" keywordseo="midcap-funds" source="Orion">midcap funds</keyword> were the highest among other equity oriented schemes with inflows to the tune of ₹2,244 crore and ₹1,962 crore respectively.</li><li>Inflows through systematic plans (SIPs) have also increased in December to ₹13,573 crore as compared to ₹13,306 crore in the previous month.</li></ul>Inflows into equity oriented mutual funds saw a sharp uptick in December at ₹7,303 crore from ₹2,258 in November, despite volatile market conditions. The pick in flows can be attributed to the consistent commitment made by retail investors through systematic investment plans (SIPs). The number of SIP accounts in the industry reached 6.12 crore in December as against 6.04 crore in November. In December, inflows in equity <keyword id="35477" type="General" weightage="20" keywordseo="mutual-fund-schemes" source="Orion">mutual fund schemes</keyword> increased three times at ₹7,303 crore from ₹2,258 crore in November, according to AMFI, the regulatory body for the mutual funds sector. Inflows into equity MFs have been positive for straight 22 months now. Inflows into smallcap funds and midcap funds were the highest amongst equity oriented schemes at ₹2,244 crore and ₹1,962 crore respectively. "Given the market volatility, investors continue to show maturity in their investment behaviour by continuing their SIP investment. When markets are high, the industry sees SIP less redemptions and at lower market levels, it is SIPs plus additional purchase,” said Manish Mehta, head - sales, marketing and digital business at Kotak Mahindra Asset Management Company. Meanwhile, debt mutual fund schemes witnessed huge outflows at ₹21,946 crore in December, considering it was quarter-end when corporates take out money to pay tax, said N S Venkatesh, chief executive at AMFI in a monthly call on Tuesday. In November, the inflows in debt funds stood at ₹3,668 crore. <keyword id="428654" type="General" weightage="20" keywordseo="liquid-funds" source="Orion">Liquid funds</keyword> saw huge outflows of ₹13,852 crore followed by floater funds with outflows of ₹2,239 crore. "Negative in certain funds is understandable because December was the quarter-end month. Here corporates take money out to pay advanced tax, and banks take money out to maintain capital adequacy," said Venkatesh in a conference call. The MF industry ended 2022 with strong inflows of ₹1.61 lakh crore into equity mutual fund schemes despite volatile market conditions throughout the year on account of elevated inflation, rising interest rates and geopolitical concerns. Consistent and disciplined SIP inflows by retail investors is among key factors for continuing infusion of funds into equity funds. <div type="image" title="inflows-equity (1)" msid="96881164" hostid="261" sizebytes="49838"></div> Inflows through systematic plans (SIPs) have also increased in December to ₹13,573 crore as compared to ₹13,306 crore in the previous month. “SIP is a medium to long term investment i.e 5-7 years period in which it can give reasonable returns,” said Venkatesh. “The importance of investing in equity markets for the longer term goals is not lost on investors and the same is reflected in the ever-increasing awareness and adoption of SIP as a goal-linked route to create wealth over the long term. This month almost 24 lacs new SIPs were registered, which shows increasing investor belief in the instrument. SIPs are the simplest route to build a disciplined habit of regular investing,” said Venkatesh. Meanwhile, the net assets under management (AUM) of the mutual fund industry grew to ₹39.88 lakh crore from ₹37.72 lakh crore last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/carlyle-group-acquires-majority-stake-in-vlcc-a-beauty-and-wellness-chain-which-was-headed-for-an-ipo/articleshow/96880486.cms">Carlyle Group acquires majority stake in VLCC, a beauty and wellness chain which was headed for an IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/data-centers-holiday-homes-and-more-attract-867-mn-from-institutional-investors-in-2022-colliers/articleshow/96876738.cms">Data centers, holiday homes and more attract $867 mn from institutional investors in 2022: Colliers</a>

Investors continue to SIP on equities: Net Inflows in MF schemes up three times at ₹7,303 crore in December

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 9.98 points or 0.01% lower at 60,105 while Nifty ended 18.45 points or 0.10% lower at 17,895.</li><li><keyword id="6438315" type="General" weightage="20" keywordseo="Foreign-institutional-investors" source="Orion">Foreign institutional investors</keyword> (<keyword id="6368141" type="General" weightage="20" keywordseo="FIIs" source="Orion">FIIs</keyword>) have offloaded equities worth over ₹10,000 crore in just seven trading days of 2023.</li><li>The World Bank slashed its growth forecasts for most countries and warned that new adverse shocks could tip the global economy into a recession.</li><li>Barring FMCG, auto, pharma and realty all other sectoral indices were in green with metal stocks gaining the most.</li></ul>Indian benchmark indices end flat after a choppy session on Wednesday on heavy outflows by foreign institutional investors (FIIs) and start to corporate earnings. Sensex closed 9.98 points or 0.01% lower at 60,105 while the 50-stock index ended 18.45 points or 0.10% lower at 17,895. Barring FMCG, auto, pharma and realty, all other sectoral indices were in green with metal stocks gaining the most. <div type="image" title="daily-profit-loss-27" msid="96914630" hostid="261"></div>Heavy FII sales weighs on sentiment On Wednesday, Foreign institutional investors (FIIs) offloaded stocks worth ₹3,208 crore while domestic institutional investors or DIIs bought ₹2,430 crore. On Tuesday when Sensex crashed by over 600 points, FIIs sold ₹2,109 crore worth equities. The year started on a tough note as FIIs offloaded equities worth over ₹10,000 crore in the first seven trading sessions of 2023. Global risks have been making investors cautious as Covid-19 cases are rising along with concerns around global economic growth. "After a volatile session, the domestic market anchored near the flat line as investors remained cautious ahead of the release of inflation data, though positive sentiments from global counterparts attempted multiple recoveries in between. The relentless selling by FIIs as a result of the premium valuation of the domestic market is weighing on the domestic market," said Vinod Nair, head of research at Geojit Financial Services. Nair said that India’s CPI for December is expected to remain unchanged, while the US CPI is estimated to cool down further from November’s level of 7.1%. <div type="image" title="sectoral-indices-27" msid="96914649" hostid="261"></div> ‘FIIs moving to cheaper markets’ In 2022, foreign portfolio investors overall sold ₹1.21 lakh crore worth of stocks in India on a cumulative basis, data showed. "Higher valuations in India and attractive valuations in markets like China are nudging the FIIs to sell in India and move money to cheaper markets," said V K Vijayakumar, chief investment strategist at Geojit Financial Services. Terming the ongoing selling by foreign institutional investors as a short-term challenge, Vijayakumar believes it can turn out to be an opportunity for long-term investors. Last year, when FIIs sold heavily in Indian markets, domestic institutional investors and retail investors had notably purchased almost the same amount of stocks, which helped them make large profits. Besides, investors have also been factoring in budget expectations for FY24 ahead of the budget meeting on February 1. “Amid growing geopolitical uncertainty and economic concerns globally, the upcoming Union Budget FY 2023 – 2024 is likely to place a higher emphasis on boosting domestic resources of growth to maintain the current trajectory of India’s economic growth,” said said Subhrajit Mukhopadhyay, executive director at Edelweiss Tokio Life Insurance. The World Bank slashed its growth forecasts for most countries and warned that new adverse shocks could tip the global economy into a recession. It projected the Indian economy to grow at 6.6% in FY24, slowing down from an estimated 6.9% in FY23. Global markets in green US markets ended higher with the benchmark S&amp;P 500 index, closing 0.7% higher, the Dow Jones Industrial Average rising 0.56%. The tech-heavy Nasdaq closed in the green with a gain of 1.01%. “US stocks finished higher on Tuesday, shaking off earlier losses to extend the new year’s rally ahead of Thursday’s December consumer price inflation data and the kick off of the corporate earnings reporting season later this week. Stocks climbed on bets the upcoming consumer price index will show further softening, which could help build the case for the Federal Reserve to slow its pace of rate hikes,” said Deepak Jasani, head of retail research at HDFC Securities. Most Asian markets were mixed with Nikkei 225 up 1.03%, Hang Seng index up 0.49% while Shanghai Composite down 0.24%, Taiwan Weighted index was down 0.35%. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/net-inflows-in-mf-schemes-up-three-times-at-7303-crore-in-december/articleshow/96881163.cms">Investors continue to SIP on equities: Net Inflows in MF schemes up three times at ₹7,303 crore in December</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/carlyle-group-acquires-majority-stake-in-vlcc-a-beauty-and-wellness-chain-which-was-headed-for-an-ipo/articleshow/96880486.cms">Carlyle Group acquires majority stake in VLCC, a beauty and wellness chain which was headed for an IPO</a>

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Carlyle Group acquires majority stake in VLCC, a beauty and wellness chain which was headed for an IPO

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Rupee gains 13 paise to 81.61 against US dollar

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Investors continue to SIP on equities: Net Inflows in MF schemes up three times at ₹7,303 crore in December

Bhakti Makwana

Relentless FII selling weighs on stock markets; indices end flat after a choppy session

Bhakti Makwana

Infosys raises revenue guidance for FY23 to 16-16.5%, revenue growth beats analyst expectations

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