Biggest IPO of The Year Opens

• The Indian stock market saw sharp profit booking on June 24, with the Sensex falling over 1,100 points from its intraday high and the Nifty 50 briefly dipping to 25,000.

• The initial rally, fuelled by a ceasefire announcement and a steep decline in crude prices, quickly faded after reports emerged that Israel accused Iran of breaching the truce and launched strikes on Tehran.

• Renewed geopolitical tensions rattled investor confidence, while expiry-related volatility further added to market pressure.

• Despite efforts to break out of its recent consolidation phase, persistent global uncertainties continue to weigh on momentum.

Vodafone Idea +4.89%

• Shares jumped almost 5 percent following reports that the central government may offer significant relief on regulatory dues to the telecom sector.

• Investor sentiment was further lifted by Telecom Minister Jyotiraditya Scindia’s remarks that India cannot afford a telecom duopoly and that the government backs competition across all sectors.

KPIT Technologies (6.14%)

• KPIT Tech shares fell more than 6 percent after the company flagged uncertainty in its outlook due to weak demand and tariff-related challenges.

• However, it expressed optimism that its latest acquisition would help stabilize performance.

• KPIT has approved the full acquisition of Caresoft’s Global Engineering Solutions business, aiming to boost growth and strengthen its position in core automotive segments.

• US & EU trade pacts to be concluded soon: Nirmala Sitharaman. (BL)

• Air India crash risks fuelling up to 30% jump in insurance premiums. (ET)

• Govt to soon decide on subsidy scheme for rare earth magnet production. (BL)

• HDB Financial Services raises ₹3,369 crore ($392Mn) via anchor book ahead of IPO. (MC)

• Sambhv Steel Tubes raises ₹161 crore ($18.7Mn) via anchor book ahead of IPO. (MC)

• Kalpataru IPO subscribed 9% so far on day 1; NII, retail investors lead.

• Ellenbarrie industrial gases IPO subscribed 8% on day 1. (MC)

• Globe Civil Projects IPO subscribed 7x on day 1, QIB portion booked 8x. (MC)

This week’s mainboard IPO schedule

• Kalpataru

  • Offering Period: 24 June - 26 June, 2025

  • Listing Date: 01 July, 2025

  • Issue Price: 387 - 414

  • Lot Size: 36

• Ellenbarrie Industrial Gases

  • Offering Period: 24 June - 26 June, 2025

  • Listing Date: 01 July, 2025

  • Issue Price: 380 - 400

  • Lot Size: 37

• Globe Civil Projects

  • Offering Period: 24 June - 26 June, 2025

  • Listing Date: 01 July, 2025

  • Issue Price: 67-71

  • Lot Size: 211

• HDB Financial Services

  • Offering Period: 25 June - 27 June, 2025

  • Listing Date: 02 July, 2025

  • Issue Price: 700 - 740

  • Lot Size: 20

• Sambhv Steel Tubes

  • Offering Period: 25 June - 27 June, 2025

  • Listing Date: 02 July, 2025

  • Issue Price:

  • Lot Size:

• Indogulf Cropsciences

  • Offering Period: 26 June - 30 June, 2025

  • Listing Date: 03 July, 2025

  • Issue Price: 105 - 111

  • Lot Size: 135

M&A / Investments

• Hindalco Industries to acquire US-based AluChem for ₹1,073 crore ($125Mn). (BS)

• CCI clears Manipal group's stake purchase in Aakash Educational Services. (ET)

• CCI okays Bain Capital's proposal to acquire stake in Manappuram Finance (ET)

Debt

• Adani Group raises ₹8,591 crore ($1Bn) to refinance debt for Mumbai airport. (BS)

• Vedanta Resources secures ₹5,154 crore ($600Mn) loan to refinance private credit facility. (BS)

VC