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Equity Investments in Real Estate to Surpass ₹80,000 Crore

November 21, 2024 • Reading Time: 8 minutes

Hello,
Markets were closed yesterday due to the Maharashtra Assembly elections.

Equity investments in the real estate sector are set to surpass $10 billion, reaching a new record. Adani is planning a $2 billion convention center in Mumbai to rival Ambani's Jio Center. Meanwhile, JSW Cement is set to launch a ₹4,000 crore IPO in January 2025.

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As of 20/11/24

  • The stock market was closed yesterday due the Maharashtra Assembly elections. Following is the market performance on Tuesday.

  • After experiencing their longest consecutive losing streak since February 2023, Indian benchmark indices rebounded on Tuesday, November 19. The BSE Sensex and Nifty50 recorded significant gains, fuelled by strong performances in IT, auto, and energy stocks.

  • The Nifty Media index led the surge with a 3.7 percent rise, while the Nifty Realty, IT, Auto, and Consumer Durable sectors each advanced by over 2 percent.

Nifty 50

0.28%

23,518.50

BSE Sensex

0.31%

77,578.38

Nifty Bank

0.52%

50,626.50

Nifty IT

0.83%

41,748.35

Nifty Vix

6.64%

16.18

10 yr Bond

1.48%

6.922

USD>INR

2bps

84.412

Source: Moneycontrol

  • The stock market was closed yesterday due the Maharashtra Assembly elections. Following is the market performance on Tuesday.

Akums Drugs +5.00%

The stock hit a 5 percent upper circuit, breaking a ten-day losing streak during which it had fallen by 35 percent. The company has signed an exclusive master sales agreement with Caregen Co Ltd, a leading South Korean player in the nutraceuticals sector.

Under this agreement, Akums Drugs gains exclusive rights to sell specific Caregen products in India for the duration of the agreement.

Honasa Consumer (11.61%)

Shares gained nearly 3 percent as the company reported handling over 1 crore passengers in October 2024, reflecting a 9.2 percent YoY growth in both domestic and international traffic.

Cargo volumes for FY25 year-to-date reached 0.65 million metric tonnes, a 14.8 percent YoY increase. Additionally, the Mopa (Goa) Airport expansion was completed, boosting passenger capacity from 4.4 million to 7.7 million.

  • Equity investments in real estate set to surpass $10 billion, hitting a new record. (ET)

  • Adani plans $2 billion convention center in Mumbai to compete with Ambani's Jio Centre. (BS)

  • Rural India drives festive season boom for e-commerce platforms. (Inc42)

  • NCLT halts Byju Raveendran's plan to sell Aakash stake. (YS)

  • 74% of companies want govt to support real-time audit reporting, says Deloitte. (ET)

  • Insolvency and Bankruptcy Board of India proposes key changes in latest paper. (ET)

  • Online platforms are shifting buying patterns among urban consumers. (ET)

  • JSW Cement plans Rs 4,000 crore ($473Mn) IPO in January 2025. (MC)

  • UPL announces Rs 3,378 crore ($399Mn) rights issue, with a 1:8 share ratio. (Mint)

  • Belrise Industries files for Rs 2,150 crore ($254Mn) IPO to reduce debt. (MC)

  • Ciel HR Services files for IPO with Rs 335 crore ($39.7Mn) fresh issue. (MC)

  • OfBusiness kickstarts IPO process, appoints five investment banks. (MC)

This week’s mainboard IPO schedule

  • Zinka Logistics

    • Offering Period: 13 November - 18 November, 2024

    • Listing Date: 21 November, 2024

    • Issue Price: Rs 259-273

    • Lot Size: 54

  • NTPC Green Energy

    • Offering Period: 19 November- 22 November, 2024

    • Listing Date: 27 November, 2024

    • Issue Price: 102-108

    • Lot Size: 138

  • Enviro Infra Engineers

    • Offering Period: 22 November - 26 November, 2024

    • Listing Date: 29 November, 2024

    • Issue Price: 140-148

    • Lot Size: 101

M&A / Investments

  • Alpha Wave to acquire 12.5% stake in UPL unit for Rs 2,956 crore ($350Mn). (ET)

  • Adani Energy Solutions to acquire 100% stake in Pune-III Transmission. (BS)

VC

Category

Company

Amount

Quick Commerce Logistics

Blitz

Rs 51 crore ($6Mn)

Digital Products*

Billion Hearts

Rs 33 crore ($4Mn)

Dairy

Doodhvale Farms

Rs 25.3 crore ($3Mn)

Spacetech

Abyom

Rs 21 crore ($2.5Mn)

SaaS

Taqtics

Rs 10 crore ($1.2Mn)

*- unconfirmed

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