Flipkart's Big Move: IPO in 12 Months and India Shift

• Indian equity markets faced challenges on Monday, December 9, as steep losses in FMCG and heavyweight stocks, including Reliance Industries, pulled benchmark indices lower for a second straight session.

• Investor sentiment was weighed down by rising oil prices due to Middle East tensions and caution ahead of key economic data, including India and US CPI figures and the ECB policy announcement this week.

Lloyds Metals and Energy +4.11%

• Shares surged 4.5% following Incred Equities' positive growth outlook and bullish price target. The brokerage initiated an 'add' call on Lloyds Metals with a target price of ₹1,476, indicating a 40% upside from Friday's close.

• Incred's optimism is driven by India's rising steel demand and elevated iron ore prices, expected to support the company's growth trajectory.

Star Health (4.21%)

• Shares fell over 4% after receiving a Show Cause Notice from the Insurance Regulatory and Development Authority of India (IRDAI) for non-compliance with several regulations and guidelines.

• The notice followed a general inspection conducted by IRDAI from January 31 to February 11, 2022.

• Sanjay Malhotra appointed RBI Governor as Shaktikanta Das' tenure ends. (HT)

• Economists foresee the RBI needing additional tools as the CRR cut impact may be short-lived. (ET)

• Defaults under EPFO reach an all-time high, rising by 69.3%. (ET)

• MFI disbursals fall 10% in Q2 amid declining credit quality. (ET)

• Assessing the effectiveness of SEBI's new F&O rules in reducing stock market volatility. (Mint)

• Continuum Green Energy files for ₹3,650 crore ($430Mn) IPO. (BS)

• Brookfield India REIT launches QIP to raise up to ₹3,500 crore ($412Mn). (BS)

• Vi board approves plan to raise ₹1,980 crore ($233Mn) from promoter units. (BS)

• Flipkart plans IPO in 12-15 months and is preparing to move its base to India. (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

• India Resurgence Fund to invest up to ₹1,000 crore ($117Mn) in Anthea. (YS)

• Samvardhana Motherson to acquire 95% of Atsumitec for ₹483 crore ($57Mn). (ET)

• Lumina Datamatics to acquire Chennai-based TNQ Tech for ₹336 crore ($39.5Mn). (BS)

• Metropolis Healthcare acquires Core Diagnostics for ₹246.8 crore ($29.1Mn). (YS)

• Education-focused NBFC Varthana raises ₹127 crore ($15Mn) from BlueOrchard. (YS)

• Dialysis clinic operator DCDC secures ₹82 crore ($9.6Mn) investment from BII. (YS)

Debt

• PFC raises ₹6,252 crore ($736Mn) through bond issuance with varying maturities. (BS)

• IL&FS Financial plans to sell bad loans worth ₹2,200 crore ($260Mn). (ET)

• NBFC SMFG India secures a ₹814 crore ($96Mn) loan from Deutsche Bank. (YS)

• Samunnati issues ₹50 crore ($5.89Mn) green bond to support climate-smart agriculture. (YS)

VC/Funds

• Blackstone targets ₹84,000 crore ($10Bn) for its third Asia PE fund, focusing heavily on India. (BS)

• 100Unicorns aims for a ₹1,697 crore ($200Mn) fund to explore MENA investment opportunities. (YS)