Gujarat Titans sold for ₹7,500 crore

• Indian stock market extended losses for the fifth straight session, with the Sensex and Nifty dropping over 1% each.

• On the BSE, 479 stocks, including Tata Motors, Coal India, LIC, GAIL, Indian Oil Corporation, Varun Beverages, and Tube Investments of India, hit their 52-week lows amid a broad-based selloff.

• Market sentiment remains weak due to concerns over US trade policies, domestic economic growth, and persistent FII selling. Mid- and small-cap stocks saw sharp declines amid demand concerns and high valuations.

• Investors are watching the PM’s US visit for any potential relief on trade uncertainties.

Info Edge (3.54%)

• Shares fell over 3% as the recent correction in PB Fintech and Zomato sharply reduced the value of Info Edge’s investments. The company holds a 19% stake in PB Fintech and 13% in Zomato.

• With both stocks down about 30% from their record highs, the valuation of Info Edge's stake has eroded by ₹17,000 crore from its peak.

• Surging U.S. demand is tightening India's gold supply, pushing leasing rates to a record high. (RT)

• India's office market is set for record leasing in 2025. (ET)

• RBI has approved ARCs' listing plans, opening a new capital avenue. (ET)

• Indira IVF has confidentially filed for a ₹3,500 crore ($403Mn) IPO. (MC)

• Hexaware Technologies raised ₹2,598 crore ($300Mn) from anchor investors ahead of IPO. (Mint)

• SEBI has approved Midwest's ₹650 crore ($75Mn) IPO. (MC)

• Ajax Engineering IPO saw 49% subscription on Day 2. (MC)

This week’s mainboard IPO schedule

• Ajax Engineering

  • Offering Period: 10 February - 12 February, 2025

  • Listing Date: 17 February, 2025

  • Issue Price: 599-629

  • Lot Size: 23

• Hexaware Technologies

  • Offering Period: 12 February - 14 February, 2025

  • Listing Date: 19 February, 2025

  • Issue Price: 674-708

  • Lot Size: 21

• Quality Power Electrical Equipments

  • Offering Period: 14 February - 18 February, 2025

  • Listing Date: 21 February, 2025

  • Issue Price: 401-425

  • Lot Size: 26

M&A / Investments

• Torrent Group is set to acquire a majority stake in Gujarat Titans for ₹7,500 crore ($864Mn). (BS)

• ToneTag raised ₹674 crore ($77Mn) from ValueQuest S.C.A.L.E. Fund. (YS)

• Zeta has secured a ₹433 crore ($50Mn) strategic investment from Optum. (YS)

• Prosus is set to invest ₹250 crore ($28Mn) in Rapido. (Inc42)

• Morgan Stanley acquired a 1.5% stake in Sterling and Wilson for ₹103 crore ($11Mn). (BS)

• KiranaPro acquired Joper.app to expand its AI-powered retail network. (YS)

VC

• SEBI has approved White Whale's ₹250 crore ($28Mn) secondaries fund. (Inc42)

• IXP has launched a ₹200 crore ($23Mn) fund to support early-stage biotech startups. (YS)