Hyundai Motor Breaks ₹1,960 IPO Mark

• The Indian stock market’s benchmark indices, the Sensex and Nifty 50, posted strong gains on Wednesday, June 25, supported by positive global cues. The ceasefire between Israel and Iran helped ease global market concerns, especially as no violations were reported following US President Donald Trump's appeal to both nations, suggesting the truce is holding.

• With geopolitical tensions subsiding, investor attention has shifted to India’s solid domestic fundamentals. The economy is projected to grow over 6% in FY26, maintaining its position among the fastest-growing major economies.

• Additionally, an above-normal monsoon is expected, with rainfall already 4% above the long-period average as of June 24. The monsoon is likely to cover the entire country two weeks ahead of schedule, further supporting India's strong growth-inflation outlook.

Hyundai Motor India +2.39%

• Shares rose over 3 percent on Wednesday, marking a second consecutive session of gains after two brokerages issued bullish calls on the auto giant.

• The rally follows the stock closing above its IPO price of ₹1,960 for the first time on June 20.

• It now trades at a 9% premium to the issue price of what was India’s largest IPO to date.

Dixon Technologies (India) (2.63%)

• Shares came under pressure on June 25 after Phillip Capital cut its target price for the EMS stock.

• The brokerage maintained a sell rating, lowering the target to ₹9,085 from ₹11,077, indicating a potential downside of up to 36%. It cited rising competition in the company’s domestic business as a key concern.

• Why is RBI stimulating a healthy economy? (ET)

• Homebuyers gain as RBI’s repo cuts improve housing affordability in H1 2025. (ET)

• Adani Group, Reliance in pact for fuel distribution. (MC)

• Versuni picks Kotak and Citi for ₹3000 crore ($350Mn) India arm IPO. (MC)

• Manika Plastech files draft papers for IPO, fresh issue size at ₹115 crore ($13.3Mn). (MC)

• Sudeep Pharma files DRHP with SEBI for IPO to raise ₹95 crore ($11Mn). (Mint)

• Indogulf Cropsciences mobilises ₹58.2 crore ($6.7Mn) via anchor book ahead of IPO. (MC)

• Arisinfra solutions shares plunge over 21% on market debut. (MC)

• Kalpataru IPO subscribed 35% on day 2, retail portion booked 72%. (MC)

• Ellenbarrie industrial gases IPO subscribed 31% on day 2. (MC)

• Globe Civil Projects IPO subscribed 15x on day 2; NII portion booked 21x. (MC)

• HDB Financial Services IPO booked 37% on day 1. (MC)

• Sambhv Steel Tubes IPO subscribed 60% on day 1, led by retail, NII investors. (MC)

This week’s mainboard IPO schedule

• Kalpataru

  • Offering Period: 24 June - 26 June, 2025

  • Listing Date: 01 July, 2025

  • Issue Price: 387 - 414

  • Lot Size: 36

• Ellenbarrie Industrial Gases

  • Offering Period: 24 June - 26 June, 2025

  • Listing Date: 01 July, 2025

  • Issue Price: 380 - 400

  • Lot Size: 37

• Globe Civil Projects

  • Offering Period: 24 June - 26 June, 2025

  • Listing Date: 01 July, 2025

  • Issue Price: 67-71

  • Lot Size: 211

• HDB Financial Services

  • Offering Period: 25 June - 27 June, 2025

  • Listing Date: 02 July, 2025

  • Issue Price: 700 - 740

  • Lot Size: 20

• Sambhv Steel Tubes

  • Offering Period: 25 June - 27 June, 2025

  • Listing Date: 02 July, 2025

  • Issue Price:

  • Lot Size:

• Indogulf Cropsciences

  • Offering Period: 26 June - 30 June, 2025

  • Listing Date: 03 July, 2025

  • Issue Price: 105 - 111

  • Lot Size: 135

M&A / Investments

• MakeMyTrip to pay ₹25,774 crore ($3Bn) to repurchase stake from Trip.com. (OB)

• WFM Asia offloads 2.84% stake in Star Health Insurance for ₹701 crore ($81.5Mn). (PTI)

• Jio Financial Services invests ₹190 crore ($22.1Mn) in Jio Payments Bank. (BS)

• Magnum to acquire 61.9% Kwality Wall's shares from Unilever group. (MC)

• Walko Food Company acquires Meemee’s Ice Creams. (EN)

Debt

• Vodafone Idea plans to raise ₹24,915 crore ($2.9Bn) in loans to boost network. (ET)

• CEAT to raise ₹500 crore ($58Mn) via NCDs. (CNBC)

VC/Funds

• Amicus Capital marks close of second fund at ₹1,838 crore ($214Mn). (SS)