Ahmedabad : Artha Bharat Investment Managers IFSC LLP initiated its operations at the Gujarat International Finance Tec-City – International Financial Services Centre (GIFT-IFSC). The company recently obtained an IFSCA license as a Fund Management Entity. Cyril Amarchand Mangaldas and CNK Khandwala & Associates provided advisory services to establish the entity.
Speaking at the Inaugural event held at Gift City Club on the 9th of August 2024, Sachin Sawrikar, Founder & Managing Partner said, “The Gift City entity will be a key part of our growth strategy as we believe that it offers an excellent platform to offer diverse investment products addressing global markets and in particular the fast-growing Indian markets”. “We would be moving our largest fund with AuM of over Rs 1,100 cr (USD 130 million) from Mauritius to Gift City as Artha Global Opportunity Fund. This reinforces our commitment to Gift City”, he added.
The first event took place at Radisson Gift City Club on August 9th. It was graced by several dignitaries as Guests of Honour. The speakers included Mr. Sandip Shah, Asst VP of Gift City, Mr. Rajesh Sharma, EVP of HDFC Bank, and Mr. Vivaik Sharma, Partner at Cyril Amarchand Mangaldas. They extended their congratulations to Artha Bharat for starting operations, emphasized the advantages of Gift City, and discussed new budget proposals.
Lovekesh Raj, Partner of Artha Bharat, announced the appointment of Mr. Akshesh Katkoria as the Principal Officer and Ms. Madhuri Gurwani as the Compliance Officer. He elaborated on the growth plans of the group and said that “We are focused on leveraging the benefits of our Gift City entity to launch more international funds from Gift City on investment themes such as Commodity Arbitrage, Real Estate and Fixed Income”.
The Rs. 1,100 crore Artha Global Opportunity Fund is currently in the process of formation and is pending regulatory approval. HDFC Bank is set to be the assigned depositary participant and custodian of the upcoming Fund, while Vistra India will serve as the Trustee and administrator. Cyril Amarchand Mangaldas is advising Artha Bharat on structuring and preparing the Fund’s documentation, and Nangia Andersen is providing tax advisory services.
