Aye Finance Secures ₹1,450 Cr IPO Approval

• Indian markets witnessed a volatile session on Thursday, December 12, despite positive cues from Wall Street, as investors remained cautious ahead of the release of India's key retail inflation data later in the day.

• A Mint survey of 16 economists projects retail inflation to have eased to 5.5% in November, compared to 6.2% in October. However, even with this decline, inflation would still surpass the Reserve Bank of India's medium-term target of 4%, highlighting persistent challenges in achieving stable prices.

Waaree Energies +3.79%

• Shares jumped nearly 4% after the company secured a project to develop a 170 MW solar power plant in Madhya Pradesh. This rise extended the stock's winning streak to seven consecutive sessions, with gains exceeding 20% during this period.

Neuland Laboratories (5.54%)

• Neuland Laboratories shares dropped 6% following a ₹780 crore block deal, with Smallcap World Fund reportedly being the seller.

• Approximately 4.9 lakh shares, representing a 3.8% stake, were traded at an average price of ₹15,900 per share, reflecting a discount of over 6% from Wednesday's closing price.

• Reliance and Rosneft finalize the largest-ever oil supply deal between India and Russia. (ET)

• OPEC announces its steepest cut to the global demand forecast. (ET)

• Bank deposits increased in line with credit growth during the year to November. (ET)

• Blinkit to deliver food in 10 minutes through Bistro. (EN)

• International Gemmological Institute raises ₹1,900 crore ($223Mn) through its anchor book. (MC)

• PC Jeweller to issue shares worth ₹1,510 crore ($177Mn) to lenders to settle outstanding debt. (ET)

• EPC firm Shivalaya Construction selects three i-banks for its ₹1,500 crore ($176Mn) IPO. (MC)

• Aye Finance secures board approval for ₹1,450 crore ($170Mn) IPO. (MC)

• Bluestone has filed its DRHP for a ₹1,000 crore ($117Mn) IPO. (EN)

• Vishal Mega Mart IPO subscribed 1.53x on Day 2, with the NII portion booked 3.8x. (MC)

• Sai Life Sciences IPO fully subscribed on Day 2, with the QIB portion booked 2.89x. (MC)

• MobiKwik IPO saw 20x overall subscription on Day 2, with the retail portion subscribed 64x. (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

• Temasek led a ₹1,782 crore ($210Mn) Series G funding round for Rebel Foods. (EN)

• Edelweiss Financial subsidiaries sell a 7.2% stake in Nuvama Wealth for ₹1,759 crore ($207Mn). (CNBC)

• Capital Group exits Neuland Labs by selling a 3.77% stake for ₹756 crore ($89.2Mn). (ET)

• Sterlite Power raises ₹725 crore ($85.4Mn). (BS)

Debt

• Punjab & Sind Bank plans to raise ₹3,000 crore ($353Mn) through infra bonds this month. (BS)

VC

• Equentis Angel Fund launches its ₹500 crore ($59Mn) Fund I. (EN)