Hyundai Motor's Rs 27,000 Crore IPO Opens for Subscription

• Indian stock market benchmarks, the Sensex and Nifty 50, resumed their upward trend on Monday, October 14, driven by gains in key banking and IT stocks such as HDFC Bank and Infosys.

• However, gains were limited due to weak global sentiment. A Reuters report noted that China's recent broad economic stimulus pledges over the weekend did not significantly boost global investor confidence.

Premier Energies +2.31%

• The stock rose by as much as 10% after the company's subsidiaries, Premier Energies International and Premier Energies Photovoltaic, secured multiple orders totaling Rs 765 crore.

• This includes Rs 632 crore in orders for solar modules and Rs 133 crore in orders for solar cells. Ultimately, the stock closed 2.3% higher.

Avenue Supermarts (8.35%)

• DMart shares dropped more than 8% after its parent company, Avenue Supermarts, reported disappointing earnings for the quarter ending in September, with both revenue and net profit falling short of expectations.

• The most significant shortfall for Avenue Supermarts was in revenue growth, marking its slowest rate in four years, while like-for-like growth was the weakest in three years.

• National Insurance Company is identifying assets to sell amid poor solvency. (ET)

• Food prices have driven India's retail inflation to a nine-month high in September. (RT)

• Real estate equity investments in India hit a record high from January to September. (ET)

• India needs to explore incentives to enhance its renewable energy transmission capacity, according to the power secretary. (RT)

• Thirty-eight additional companies have expressed interest in the PLI scheme for white goods. (FE)

• Hyundai Motor India raises Rs 8,315 crore ($988Mn) from 225 anchor investors. (MC)

• EaseMyTrip's board approves a 1:1 bonus share issue. (BS)

This week’s mainboard IPO schedule

• Hyundai Motor India

  • Offering Period: 15 October - 17 October, 2024

  • Listing Date: 22 October, 2024

  • Issue Price: 1865-1960

  • Lot Size: 7

M&A / Investments

• CDPQ will purchase Ashoka's BOT toll road assets for Rs 4,500 crore ($534Mn). (ET)

• Temasek-backed Manipal Health has acquired a hospital in Mumbai's Andheri for Rs 415 crore ($49.3Mn). (ET)

• Anicut Capital raises Rs 92 crore ($11Mn) via GIFT City for private credit expansion. (YS)

• General Catalyst is poised to invest Rs 84 crore($10Mn) in Primus Life's $25 million fundraising round. (YS)

• Jetapult has acquired a substantial stake in Saudi-based UMX Studio for Rs 37 crore ($4.5Mn). (YS)

• Licious acquires offline retailer My Chicken and More. (YS)

Debt

• JC Flowers ARC invites counterbids for Rs 1,351 crore ($160Mn) in bad debts. (BS)

VC