Fractal Analytics to Seek $3B Valuation for IPO

Hello,
Markets experienced volatility yesterday but ultimately closed slightly higher due to a lack of growth drivers and mixed global cues. Although rising prices have led to a decrease in gold demand, its value remains robust. The Akums Drugs IPO was subscribed 1.4x on its opening day, with strong interest from retail investors. Fractal Analytics is expected to file its DRHP next month, aiming for a $3 billion valuation. Additionally, Adani Energy Solutions has raised $1 billion through a Qualified Institutional Placement (QIP), and Adani Enterprises is poised to launch its first public debt issue to raise ₹600 crore.

Markets📊 
As of 30/07/2024 Market Close

• Indian benchmark indices ended marginally higher in a volatile session on July 30. The frontline indices, the Sensex and the Nifty 50, closed flat on Tuesday amid mixed global cues.

• Energy and media stocks outperformed other sectoral indices, while FMCG and pharma stocks declined.

Notable Gainer & Loser📈📉 
Source: Moneycontrol

Power Grid Corporation of India Ltd +2.09%

• Shares surged by over 2 percent after the company announced an increased capital expenditure outlay for FY25. The management has raised its capex guidance to Rs 18,000 crore for FY25, up from the previous estimate of Rs 15,000 crore.

• For FY26 and FY27, the company has projected capex outlays of Rs 25,000 crore and Rs 30,000 crore, respectively.

Kalpataru Projects International Ltd (2.13%)

• Shares of Kalpataru Projects International fell by over 2 percent on July 30 following the release of weak Q1FY25 results.

• The realty firm reported a 26 percent year-on-year decline in consolidated net profit, dropping to Rs 84 crore in Q1FY25 from Rs 113 crore in the same period last year.

Yesterday’s Highlights📒 

• The Centre is likely to release the final draft of the Data Protection and Privacy Bill (DPDP) for public review in the coming weeks. (ET)

• The RBI is eyeing the eRupee CBDC to enhance cross-border transactions. (BT)

• Gold demand fades amid rising prices, but its value remains strong. (ET)

• How DMart plans to take on quick commerce rivals. (ET)

• Sidbi partners with C2treds and UGRO Capital to facilitate loans to the MSME sector. (BS)

• Travel firm Thomas Cook India partners with NPCI to launch RuPay forex card. (BS)

• India could see 5G smartphones priced under ₹10,000 due to Qualcomm chipset advancements. (ET)

• Retail sector records strongest H1 leasing in 5 years as luxury brands seek to make a mark in India. (ET)

• Global content studio Dori Media sets up operations in India. (ET)

• Govt increases rural connectivity spending amid telcos' push to scrap USOF levy. (FE)

• Qualcomm launches India-made chip to compete with MediaTek in the 5G market. (BS)

IPO / Issuances🚀 

• Fractal Analytics may file DRHP next month; eyes $3 billion valuation for IPO. (Moneycontrol)

• FirstCry to launch IPO at around $2.9 billion valuation. (Moneycontrol)

• Adani Energy Solutions raises Rs 8,300 crore ($1Bn) via QIP. (FE)

• Akums Drugs IPO subscribed 1.4x on opening day; retail investors show strong interest. (FE)

This week’s mainboard IPO schedule

• Akums Drugs and Pharmaceuticals (RHP)

  • Offering Period: 30 July - 01 August, 2024

  • Listing Date: 06 August, 2024

  • Issue Price: 646-679

  • Lot Size: 22

• Ceigall India (RHP)

  • Offering Period: 01-05 August, 2024

  • Listing Date: 08 August, 2024

  • Issue Price: 380-401

  • Lot Size: 37

• Ola Electric Mobility

  • Offering Period: 02-06 August, 2024

  • Listing Date: 09 August, 2024

  • Issue Price: 72-76

  • Lot Size: 195

Deal Activity🤝 

M&A / Investments

• Hinduja Group is ready to pay ₹2,750 crore ($328Mn) now for Reliance Capital resolution, files an intervention application before NCLT. (ET)

• Carlyle Group offloads a stake worth Rs 2,642 crore ($315Mn) in PNB Housing Finance. (BS)

• TA Associates, Multiples PE, and KKR have offered to invest ₹830 crore ($99.2Mn) for a 25% stake in Eye Foundation. (ET)

• IIFL Fintech Fund acquires a 10% stake in GenAI startup Vitra.Ai. (YS)

• Amazon nears a complete acquisition of Axio in an all-cash deal. (EN)

• Vedanta gets secured creditors' nod for demerger into six companies. (BS)

• CCI approves the merger of Mangalore Chemicals & Fertilisers with Paradeep Phosphates. (ET)

Debt

• Bank of Maharashtra is likely to issue maiden infra bonds to raise ₹3,000 crore ($358Mn). (BS)

• Adani Enterprises to launch its first-ever public debt issue to raise ₹600 crore ($71.7Mn). (BS)

• Navi Finserv closes a Rs 317 crore ($38Mn) securitisation deal with JP Morgan. (YS)

• BharatPe receives Rs 83.6 crore ($10Mn) in debt from Trifecta and InnoVen. (EN)

Funds

• Gemba Capital unveils a Rs 250 crore ($30Mn) Fund II for early-stage investments. (YS)

VC

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