GIFT City AIF a 'Phenomenal Regime' for Kedaara, says Chief Kejriwal at Davos

• Manish Kejriwal, Managing Partner and Founder of Kedaara Capital, stated at Davos that the AIF structure in India's GIFT City has been highly beneficial for the private equity firm.
• Kejriwal highlighted that most Indian-domiciled firms, including Kedaara, have found the GIFT City AIF regime phenomenal, with deals remaining unaffected.
• He welcomed the Supreme Court's verdict on Tiger Global's tax liability for Flipkart share sales, noting the importance of substance over routing through tax havens like Mauritius.
• Indian regulators are promoting GIFT City AIFs to foreign investors for greater transparency, discouraging reliance on tax havens.
• Kedaara, which recently raised $1.8 billion, expects four portfolio companies to go public in the next 12-18 months, focusing on consumer and financial services sectors.

Why It Matters: GIFT City's AIF structure offers transparency and positive results for Indian PE firms like Kedaara, attracting foreign investment.