₹12,500 Crore Deal: Bhartia's Significant Coca-Cola Stake

• The Nifty 50, India's leading stock index, rebounded on Wednesday, December 11, after three consecutive days of decline. Although the market closed higher, it experienced significant volatility throughout the day, dipping into negative territory multiple times. Defensive sectors like FMCG and pharmaceuticals saw increased investor interest.

Bajaj Finance +2.35%

• The stock price increased by more than 2% following a positive investor meeting. During the meeting, the company shared optimistic projections for customer growth and outlined its long-term strategy, which includes a significant focus on artificial intelligence (AI).

• Rajeev Jain, Managing Director of Bajaj Finance, revealed the company's ambition to transform into BFL 3.0, a fintech and AI-powered entity, over the next 4-5 years.

• The company is already implementing 29 AI use cases across various operations, which is expected to yield annual cost savings of Rs 150 crore in FY26. Moreover, AI adoption is aiding the company in developing a more strategic roadmap for the future.

ITI (8.05%)

• The stock price declined sharply by 7.5% as investors took advantage of recent gains to sell their shares.

• After a significant three-day surge of approximately 34%, which pushed the stock to a new high of Rs 404 on Tuesday, many investors chose to realize profits. This heavy selling, driven by high trading volumes, led to the significant price drop.

• New RBI Governor, Sanjay Malhotra, pledges policy continuity. (Mint)

• Top business leaders believe India's long-term economic growth will remain strong, despite global economic challenges. (ET)

• Gold prices rise as investors anticipate potential Fed rate cuts due to easing inflation concerns. (RT)

• Tesla resumes search for a New Delhi showroom with DLF. (TOI)

• Inventurus Knowledge Solutions raises ₹1,120 crore ($132Mn) through anchor book investment. (MC) 

• Veranda Learning gets approval to raise ₹250 crore ($29.5Mn) through a preferential issue. (YS)

• Vishal Mega Mart IPO subscribed 51% on Day 1, driven by strong demand from NIIs. (Mint)

• Sai Life Sciences IPO subscribed 66% on Day 1, led by strong demand from QIBs. (MC)

• MobiKwik IPO subscribed nearly 7.31 times on Day 1, with retail investors booking nearly 26x. (MC)

This week’s mainboard IPO schedule

• Vishal Mega Mart

  • Offering Period: 11 December - 13 December, 2024

  • Listing Date: 18 December, 2024

  • Issue Price: 74-78

  • Lot Size: 190

• Sai Life Sciences

  • Offering Period: 11 December - 13 December, 2024

  • Listing Date: 18 December, 2024

  • Issue Price: 522-549

  • Lot Size: 27

• Mobikwik

  • Offering Period: 11 December - 13 December, 2024

  • Listing Date: 18 December, 2024

  • Issue Price: 265-279

  • Lot Size: 53

• Inventurus Knowledge Solutions

  • Offering Period: 12 December - 16 December, 2024

  • Listing Date: 19 December, 2024

  • Issue Price: 1265-1329

  • Lot Size: 11

• International Gemmological Institute

  • Offering Period: 13 December - 17 December, 2024

  • Listing Date: 19 December, 2024

  • Issue Price: 397-417

  • Lot Size: 35

M&A / Investments

• ReNew Energy receives a ₹23,928 crore ($2.82Bn) offer to go private. (ET)

• Bhartia family to acquire 40% stake in Hindustan Coca-Cola for ₹12,500 crore ($1.47Bn). (BS)

• Shriram Finance sells 85% stake in its housing finance business to Warburg Pincus for ₹3,929 crore ($463Mn). (Mint)

• Warburg Pincus to invest Rs 1200 crore ($141Mn) in Shriram Housing Finance, exceeding its initial plan. (ET)

• Navis Capital Partners and Dragon Fund have invested ₹509 crore ($60Mn) in CarDekho SEA. (YS)

Debt

• SBI invites counter bids for Rs 52,000 crore ($6.1Bn) Jaiprakash Associates loan sale. (BS)

• Mahindra Susten's clean-tech arm secures Rs 1,448 crore ($170Mn) term loan. (BS)

VC

• Capria Ventures to raise ₹848 crore ($100Mn) for India Fund III. (YS)

• growX Ventures launches a new ₹400 ($47Mn) crore fund. (YS)