HDB Financial Files for $1.5 Billion IPO

• Markets: The domestic equity benchmarks, Sensex and Nifty 50, are likely to open weakly on Monday due to cautiousness in global markets.

• Global Cues: Investor focus will be on developments in US markets this week, which promises to be eventful globally. Key events include the US Presidential election on November 5 and the US Federal Reserve meeting on November 7.

• Q2 Results: Investors will focus on the ongoing results season, with several index heavyweights, including Titan, Tata Steel, Power Grid, M&M, Trent, SBI, Tata Motors, and Asian Paints, are scheduled to announce their quarterly results next week.

• IPOs: Dalal street will be hit with 4 new mainboard IPOs as the long awaited Swiggy IPO also among them.

• The Indian stock market benchmark indices, Sensex and Nifty 50, closed the Muhurat Trading session for Diwali 2024 on a positive note. This marks the seventh consecutive year of gains during the Muhurat trading session.

• October saw weak performance, with the Nifty falling by 2,000 points from its record highs, making it the worst month since March 2020 due to significant FII outflows and poor Q2 earnings results.

• SEBI has proposed doubling the threshold for 'High Value Debt Listed Entities' to Rs 1,000 crore. (YS)

• FMCG firms worry about high inflation affecting the urban market, hinting at price hikes. (YS)

• Bank lending rates have declined sequentially, while deposit rates have increased. (ET)

• Rising delinquencies prompt banks to slow down new credit card issuances. (ET)

• India’s forex reserves fell by $3.463 billion to $684.805 billion. (YS)

• Apple India achieved record revenue driven by iPhone sales and plans to open four new stores. (BS)

• Following Diwali and the festivities, traders are now focusing on the wedding season. (ET)

• Record retail sales during the festivals have reduced inventory levels in the car market. (ET)

• HDB Financial, HDFC Bank's NBFC arm, filed a DRHP for a Rs 12,500 crore ($1.48Bn) IPO. (MC)

• Brigade Hotel Ventures has filed draft papers to raise Rs 900 crore ($107Mn) through an IPO. (MC)

• Ahead of the Sagility India IPO, the promoter raised Rs 366 crore ($43.5Mn) from nine investors. (MC)

This week’s mainboard IPO schedule

• Sagility India

  • Offering Period: 05 November- 07 November, 2024

  • Listing Date: 12 November, 2024

  • Issue Price: 28-30

  • Lot Size: 500

• Swiggy

  • Offering Period: 06 November- 08 November, 2024

  • Listing Date: 13 November, 2024

  • Issue Price: 371-390

  • Lot Size: 38

• Acme Solar Holdings

  • Offering Period: 06 November- 08 November, 2024

  • Listing Date: 13 November, 2024

  • Issue Price: 275-289

  • Lot Size: 51

• Niva Bupa Health Insurance

  • Offering Period: 07 November- 11 November, 2024

  • Listing Date: 14 November, 2024

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• The government has infused Rs 1,650 crore ($196Mn) into state-owned RINL to sustain its operations. (BS)

• Ashoka Buildcon to acquire 34% more stake in ACL for Rs 1,526 crore ($181Mn). (CNBC)

• AO Smith completes Rs 600 crore ($71.3Mn) acquisition of HUL’s Pureit. (Mint)

Debt

• Country Delight secured Rs 200 crore ($23.8Mn) in debt funding from Alteria Capital. (YS)

VC

• Funding for Indian startups dropped 25% in October to $1.2 billion. (EN)