Geneva based private investment firm, Argent Mayfair recently completed its second major Indian focused investment taking an 18% stake in the Jalandhar Leisure Group. It is understood the investment is to provide Jalandhar with further capital for acquisitions.
Improving investment conditions in India have been cited as an important backdrop for the investment. The Modi government has received accolade from foreign investors such as Argent for its work in opening up India to foreign investment. Previously, foreign investors who have required political stability, government support and the removal of red tape have not been able to get completely comfortable with the Indian business landscape and sought more reliable opportunities elsewhere.
It is also understood that the Argent group has participated in the new government scheme for the awarding of mining licenses. This would be comfortable territory for Argent as the group invests on behalf of its significant multi-family backers and traditionally has been active in natural resources and real estate.
The group declined to comment on its Indian plans; not surprising given the entrepreneurial groups known discretion (although recently its leadership team was spotted at the Hinduja wedding at the Jagmandir Island Palace).
We will keep an eye on what other interesting business developments transpire in the Punjab and Jammu and Kashmir regions, and what other interesting players might be circling to invest in the growing region.
Times of India