IFC-ADB Invests Rs 2,302 Cr in Fourth Partner Energy

• Indian stock market benchmarks, the Sensex and Nifty 50, continued their losing streak into a third consecutive session on Tuesday, August 6.

• Investor caution persisted due to concerns about a possible economic slowdown in the US, rising geopolitical tensions in the Middle East, and high market valuations.

Triveni Turbine Ltd +3.75%

• Shares climbed nearly 4 percent after the company reported a 32 percent year-on-year increase in profit after tax (PAT) for Q1 FY25.

• Revenue from operations also grew, reaching Rs 463 crore, a 23 percent rise YoY.

Syrma SGS Technology Ltd (7.57%)

• Shares dropped nearly 8 percent after the company reported a 28 percent year-over-year decline in profit after tax (PAT) to Rs 2 crore.

• Margins contracted by 230 basis points annually, and there was also a decline in high-margin export sales.

• The WGC has announced the formation of IAGES by major trade bodies to enhance transparency in the gold industry. (ET)

• Public sector banks will integrate data and analytics into their HR processes. (ET)

• The government wants sponsor banks to assist RRBs in upgrading their technology. (ET)

• Exporters say short-term garment orders may shift to India due to turmoil in Bangladesh. (ET)

• UPI credit disbursement has reached Rs 10,000 crore per month. (Mint)

• The government plans financial support to boost local shipping container manufacturing amid post-COVID shortages. (ET)

• NTPC seeks shareholders' approval to raise Rs 12,000 crore ($1.43Bn) through NCD issuance. (BS)

• FirstCry's IPO was 11% subscribed on Day 1, with employees subscribing 1.79 times. (MC)

• Ola Electric's IPO was 4.27 times subscribed on the final day, led by QIBs and retail investors. (MC)

• Unicommerce Esolutions' IPO was subscribed 2.43 times on the first day of bidding, with the retail portion booked 10 times. (MC)

• Akums Drugs and Pharmaceuticals debuted with a 6% premium over its IPO price. (MC)

  This week’s mainboard IPO schedule

• Ceigall India (RHP)

  • Offering Period: 01-05 August, 2024

  • Listing Date: 08 August, 2024

  • Issue Price: 380-401

  • Lot Size: 37

• Ola Electric Mobility (RHP)

  • Offering Period: 02-06 August, 2024

  • Listing Date: 09 August, 2024

  • Issue Price: 72-76

  • Lot Size: 195

• Brainbees Solutions (RHP)

  • Offering Period: 06-08 August, 2024

  • Listing Date: 13 August, 2024

  • Issue Price: 440-465

  • Lot Size: 32

• Unicommerce eSolutions Mobility (RHP)

  • Offering Period: 06-08 August, 2024

  • Listing Date: 13 August, 2024

  • Issue Price: 102-108

  • Lot Size: 138

M&A / Investments

• An IFC-ADB consortium has invested Rs 2,302 crore ($275Mn) in Fourth Partner Energy. (YS)

• True North's arm, Threpsi, has sold a 2.6% stake in Zydus Wellness for Rs 374 crore ($44.7Mn). (BS)

• Suzlon has acquired a majority stake in Renom to enhance its renewable energy services. (BS)

• Staffing startup Instawork has acquired YC-backed Able Jobs. (YS)

• Nazara's Absolute Sports has acquired the assets of DeltiasGaming. (EN)

VC