Blackstone Emerges as Top Bidder for Haldiram!

• Indian benchmark indices turned negative on Monday, December 16, after a strong rebound in Friday's session. Analysts highlighted investor caution ahead of the US Federal Reserve meeting, with the policy decision anticipated on December 18.

• While pharma and PSU stocks saw significant gains, a steep decline in IT stocks weighed on the indices. Despite this, broader markets held firm and ended the session with gains.

Dixon Technologies +4.79%

• Shares jumped 5% after the company signed a binding term sheet to establish a new manufacturing joint venture with Vivo India.

• As per the agreement, Dixon will hold a 51% majority stake in the venture, while Vivo India, a subsidiary of global smartphone giant Vivo, will own 49%.

Angel One (4.88%)

• Shares dropped 5% with a notable surge in volumes, as 46 lakh shares were traded in just two sessions, equaling the one-month average of 23 lakh shares, according to Moneycontrol data.

• The company's net profit rose 39.1% year-on-year to ₹423.4 crore, while revenue increased 44.5% YoY to ₹1,514.7 crore during the same period.

• Home loans fuel growth in Indian banks' retail portfolios. (ET)

• GST Council may reduce tax on online food deliveries to 5%. (BS)

• Freshworks reports 79% of Indian firms plan to increase AI spending in 2025. (YS)

• Tata faces challenges in Starbucks venture as Indian consumers reduce spending. (BS)

• Table Space selects 4 banks and launches ₹3,500 crore ($412Mn) IPO. (MC)

• Anand Rathi Share and Stock Brokers files draft papers with Sebi for a ₹745 crore ($87.7Mn) IPO. (MC)

• GK Energy files draft IPO with Sebi to raise ₹500 crore ($58.9Mn) through a fresh issue. (MC)

• Zingbus to raise ₹59 crore ($6.95Mn) through a preferential issue. (EN)

• Inventurus Knowledge Solutions IPO: 52.68x subscribed, QIBs 80.64x. (MC)

• International Gemmological Institute IPO: 72% subscribed on Day 2. (MC)

This week’s mainboard IPO schedule

• 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

• DAM Capital Advisors

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 269-283

  • Lot Size: 53

• Concord Enviro Systems

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 665-701

  • Lot Size: 21

• Transrail Lighting

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 410-432

  • Lot Size: 34

• Sanathan Textiles

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 305-321

  • Lot Size: 46

• Mamata Machinery

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 27 December, 2024

  • Issue Price: 240-243

  • Lot Size: 61

• Ventive Hospitality

  • Offering Period: 19 December - 23 December, 2024

  • Listing Date: 28 December, 2024

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• Wipro acquires US-based Applied Value Technologies for ₹40 crore ($4.71Mn). (YS)

• Nazara Technologies raises its stake in Next Wave Multimedia for ₹21 crore ($2.47Mn). (EN)

• Blackstone becomes top bidder for minority stake in Haldiram Snacks deal. (BS)

Debt

• Indian Oil plans to raise ₹15,000 crore ($1.76Bn) through debt. (ET)

• Nuclear Power Corp raises ₹4,600 crore ($542Mn) at 7.14% through 15-year bonds. (BS)

VC

• SanchiConnect and YourNest to invest ₹48 crore ($5.65Mn) in 8 deeptech startups. (YS)