Sunil Sanghai

First, on the rupee, one of the most effective ways to stabilise the currency is to improve the flow of foreign exchange into the country. While India has made significant progress on the export side, there is still continuous work required in attracting larger and more consistent foreign portfolio investment and foreign direct investment. economictimes.indiatimes.com/markets/forex/… @ficc

Nifty increased by 0.3% and Sensex increased by 0.2% in the last week 10-Year G-Sec yield increased by 3 basis points to 7.09% The rupee closed at 95.71 to 1 USD, appreciating by 0.3% this week • FII Outflow – USD 650.6 mn • DII Inflow – USD 1,561.9 mn @FICCI novaaone.com/wp-content/upl…

AI is reshaping capital markets across trading, research, asset management, and investment banking - driving speed, automation, and data led decision making. Yet, despite rapid technological advancement, finance continues to remain fundamentally driven by trust, relationships, and human judgment. The future of capital markets will not be humans versus machines, but a combination of both. A brief snapshot of my thoughts on how AI is reshaping the financial industry. Sharing my article published in The Economic Times. economictimes.indiatimes.com/markets/stocks… @ficci_india

#DealAlert: Pleased to announce that as part of our Capital Markets practice, NovaaOne Capital Pvt. Ltd. [SEBI Registration Number: INM000012935] acted as the financial advisor to Bagmane Prime Office REIT on the successful closure of its INR 3,405 Cr IPO. The REIT, backed by Bagmane Group and Blackstone, operates a premier portfolio of Grade-A office assets in Bengaluru. The IPO consisted of fresh issue and an Offer for Sale by Blackstone. The deal also included a pre-IPO placement of INR 1,360 Cr prior to filing of the offer document with the stock exchange. The REIT was cumulatively oversubscribed by c.25 times. We are honoured to have partnered with the company on their remarkable journey to becoming a listed entity. Our congratulations to the company management team on the successful listing! @blackstone

While this year’s disinvestment and asset monetisation targets were set under very different market conditions, recent market corrections have made execution significantly more challenging. My recent article in The Economic Times explores how InvITs and REITs remain one of the few resilient channels for monetisation and how their effectiveness will increasingly depend on a more coordinated, platform-led approach. It argues that instead of fragmented, state-level InvITs, aligning assets with established, centralised platforms such as NHIT can unlock greater scale, improve liquidity, and attract deeper institutional participation. With state-owned highways emerging as the next frontier representing an estimated ₹1.4 lakh crore monetisation opportunity, a structured and aggregated InvIT model can enable more efficient capital recycling while supporting fiscal objectives. A unified, execution-focused approach to monetisation can play a critical role in sustaining India’s infrastructure financing momentum. economictimes.indiatimes.com/markets/digita…

Twitter: Nifty decreased by 1.9% and Sensex decreased by 2.3% in the last week 10-Year G-Sec yield increased by 6 basis points to 6.96% The rupee closed at 94.26 to 1 USD, depreciating by 1.4% this week • FII Outflow – USD 777.5 mn • DII Outflow – USD 329.2 mn

Nifty increased by 1.3% and Sensex increased by 1.2% in the last week 10-Year G-Sec yield remained stable at 6.91% The rupee closed at 92.93 to 1 USD, depreciating by 0.2% this week • FII Outflow – USD 213.0 mn • DII Outflow – USD 21.4 mn

Nifty increased by 5.9% and Sensex increased by 5.8% in the last week 10-Year G-Sec yield tightened by 21 basis points to 6.92% The rupee closed at 92.73 to 1 USD, appreciating by 0.4% this week • FII Outflow – USD 3,363.3 mn • DII Inflow – USD 3,050.4 mn

FICCI Welcomes SEBI’s One-Time Relaxation amiddst ongoing Middle East geopolitical tensions FICCI gratefully acknowledges SEBI’s positive consideration of industry recommendations for providing a one-time extension in the validity of observation letters, as well as relaxation from non-compliance with Minimum Public Shareholding requirements. The reliefs granted till September 30, 2026, by way of Circulars issued today come as a significant relief for India Inc., and represent a timely and pragmatic response to prevailing market conditions, including heightened volatility, subdued valuations and constrained investor participation - limiting issuers’ ability to raise capital. These measures will provide much-needed flexibility to issuers by reducing procedural duplication, easing compliance burden and enabling better alignment of fund-raising plans with market windows. @ficci_india @SEBI_updates #page=1&zoom=page-width,-37,811" target="_blank" rel="nofollow noopener">sebi.gov.in/web/?file=http… sebi.gov.in/legal/circular…

Nifty decreased by 2.5% and Sensex decreased by 2.6% in the last week 10-Year G-Sec yield increased by 25 basis points to 7.13% The rupee closed at 93.11 to 1 USD, appreciating 0.9% this week • FII Outflow – USD 3,596.0 mn • DII Inflow – USD 3,494.7 mn

While reforms for Foreign Portfolio Investments (FPI) have progressed, a sharper focus on simplifying FDI regulations and execution pathways is crucial. Addressing legacy issues, revisiting pricing norms, and streamlining corporate restructuring can unlock significant long-term capital. Sharing my article published in The Economic Times 🔗: economictimes.indiatimes.com/markets/market…

At a time when global capital flows are shaped by geopolitical complexity, clarity in investment policy is not just welcome but essential. Sharing my article published in The Economic Times which examines the government's recent amendments to India's FDI framework, particularly the much-debated Press Note 3 guidelines. The article highlights: •The operational bottlenecks created by PN3 and its impact on FDI inflows from land-border countries •Alignment of beneficial ownership definitions with PMLA rules and a 10% automatic route threshold for minority investments •A 60-day time-bound approval mechanism for strategic manufacturing sectors, balancing national security with ease of investing Read more here 🔗: lnkd.in/dH_Y_zzD @ficci_india

I am pleased to share my article on the Union Budget FY2026-27: “Fiscally prudent, yet growth-oriented” The Budget maintains a careful balance between growth support and fiscal discipline, with a continued capex-led growth strategy, a steady glide path on fiscal consolidation, and targeted measures to deepen financial markets. Key highlights include: 1. A clear reaffirmation of capex-led growth without fiscal slippage 2. Market-oriented reforms spanning banking, bonds, and foreign investment rules 3. Targeted structural support for infrastructure, manufacturing, and digital ecosystems By maintaining fiscal discipline while continuing to deploy targeted growth enablers, the Union Budget provides a credible and stable foundation for medium-to-long-term competitiveness, with sustained execution likely to be the key driver of investor confidence going forward. @ficci_india 🔗Read more here: economictimes.indiatimes.com/markets/stocks…

In an era of global volatility and capital caution, India's Union Budget 2026 stands at a pivotal moment to supercharge the capital markets. Just ahead of the budget presentation, sharing my article that was published in The Economic Times which outlines how reforms in corporate restructuring, banking sector governance, and taxation can transform capital efficiency. The article highlights: •India's ongoing quest for foreign and domestic capital to fuel infrastructure, manufacturing, and energy transition •Persistent frictions in corporate restructuring and the way forward and •The method of aligning voting rights with ownership, mobilizing gold into bonds, and simplifying capital gains taxes 🔗Read more here: economictimes.indiatimes.com/markets/stocks…

Mr Kamlesh Chandra Varshney, Whole Time Member, SEBI interacted with FICCI Capital Markets Committee on further strengthening India’s capital markets and fostering long-term growth. @SunilSanghai @SEBI_India

Ambassador Nagma Mohamad Mallick, in her welcome address at the “Foreign Stakeholders Roundtable” held on the occasion of the visit of SEBI Chairman Mr. Tuhin Kanta Pandey, emphasised that India offers a stable, credible, and future-ready investment environment, and that the India–Japan strategic partnership—underpinned by strong capital markets, sound regulation, and a long-term vision—presents a compelling opportunity for global investors to participate in India’s sustained growth story. The Chairman highlighted India’s robust macroeconomic fundamentals, the increasing depth and stability provided by domestic investors, and SEBI’s commitment to a transparent, risk-based regulatory framework that is continuously easing market access and fostering efficient, investor-friendly capital formation for foreign investors. This was followed by a detailed presentation on SEBI by GM Ms. Thayagarajan. The event was organised by FICCI in collaboration with Mizuho Securities and was moderated by Sunil Sanghai, Chair of the FICCI Committee on Capital Markets