India's first major QFI equity deal sparks hope

  South African group Sanlam has completed the first major direct equity investment into an Indian firm via the country’s recently revamped qualified foreign investor (QFI) scheme. It is hoped this may pave the way for more such transactions to access Indian stocks. The $111 million share purchase in listed Shriram Transport Finance was finalised last week, increasing its shareholding to 10%, from 7% previously. It comes after the QFI programme, which was launched in 2011 to a…