Author: admin
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Smart meters: The basic infrastructure for a green future
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Smart meters are essentially a data play – offering unprecedented data that can be used to bring online more green energy, curb electricity loses and reduce costs for consumers The sector has immense depth – USD 30 bn over just the next 2-3 years….
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Smart Grids: The Missing Piece in India’s Renewable Energy Story
Smart Grids: The Missing Piece in India’s Renewable Energy Story August 25, 2023 Over the past decade, the Indian energy infrastructure narrative has been heavily focused on one singular goal – going green. Yet, achieving the goal of complete integration remains distant due to key gaps. In this piece, we discuss the fundamental issues…
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SEBI is slowly re-defining InvITs: What’s at risk for the product and its institutional audience?
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Strong minority unitholder protections introduced – for both public and private InvITs Private InvITs originally designed to attract large institutional capital – light touch re- gulations allowed flexibility to parties to manage their arrangements…
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Investing into Infrastructure Holding Companies: What if you become a core investment company?
Infrastructure companies are mandated to execute concessions through SPVs, which often results in qualification of the holding company as a core investment company (CIC)CIC risk is often avoided by structuring EPC and O&M revenues through the hol- ding company and swelling …
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Blurring lines between FPI and FDI: Can foreign investors really acquire less than 10% listed stake off market?
Investors face roadblocks in picking up less than 10% listed stake off the market under the FDI routeThe shift from an investor-centric to investment-centric regime has been rather mismanaged, leading to divergent market practices…
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Ambiguity with thin cap norms: Private credit players risk significant tax leakage
Accurate reading of thin capitalization norms is highly relevant to maximize IRRs, especially in asset heavy sectors Currently, norms interpreted such that sometimes the entire interest paid to foreign related parties is disallowed for the target (as expense)…
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Ruchir Sinha Research
contact@resolutpartners.com 717, Tower B, ONE BKC Mumbai – 400051 Research | Analysis | Publications | Audio/Video Ruchir Sinha Analysis Budget 2023: Impact on InvITs Read More ➝ Private Funds: SEBI introduces investor diligence requirements for AIFs Read More ➝ EduInfra – Emergence of a new asset class Read More ➝ Investor or developer? Real estate…
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Budget 2023: Impact on InvITs
Distributions out of repayment of debt principal could now be taxed as ‘other income’ – at odds with global standards Distributions out of debt repayments through redemption of units not treated as ‘income’, but reduce cost of acquisition – InvIT / REIT Regulations do not permit redemption of units…
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SEBI’s Proposed Disclosure Regime: Impact on Public M&A and Directors’ Liabilities
Most proposals are well thought through – unintended impact in a few cases Mandatory clarification of media rumours – M&A dealmaking compromised and potential creation of a false market?…
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Private Funds: SEBI introduces investor diligence requirements for AIFs
SEBI has cast new investor diligence obligations on AIF managers, which extends to underlying investors As per the new rule, the manager of an AIF is not permitted to on-board new investors or draw down capital from existing investors unless the diligence conditions have been complied with…