IPO Frenzy: 5 Major Issues This Week!

• Indian equity markets closed flat with a slight negative trend on Friday, December 6, as the Nifty 50 and Sensex saw minimal movement following key announcements from the Reserve Bank of India's (RBI) MPC meeting.

• The RBI's Monetary Policy Committee maintained the repo rate at 6.5% for the eleventh consecutive meeting but reduced the Cash Reserve Ratio (CRR) by 50 basis points. Despite being anticipated, the CRR cut had little effect on market sentiment.

• While the CRR reduction was viewed as a liquidity-supportive measure for the banking sector, market activity was subdued due to concerns over India's economic outlook and inflation. The RBI lowered its FY25 real GDP growth projection from 7.2% to 6.6% and raised the inflation forecast from 4.5% to 4.8%, further weighing on investor confidence.

Zaggle +4.99%

• Shares gained 5 percent as the company secured three orders within two days. The first is a five-year contract for Zaggle's fleet program from AGP City Gas.

• The second is a one-year order from Hitachi India, where Zaggle will provide its Propel Rewards solution. Additionally, the company signed a two-year master agreement with Blink Commerce to offer its Zoyer solution.

HEG (4.03%)

• Shares slipped 4 percent as profit booking set in after recent significant gains. The company's shares had surged nearly 40 percent within a week, driven by reports of China tightening its review of graphite exports to the US and effectively banning the export of dual-use commodities like germanium and gallium.

• This move raised concerns about potential supply shortages in the global market. The stock had also reached a near six-year high in the previous session.

• RBI holds interest rates steady, cuts CRR amid economic slowdown. (YS)

• RBI permits Small Finance Banks to offer credit on UPI. (TH)

• Banks are unlikely to offer higher deposit rates following the CRR cut. (ET)

• LG Electronics India files DRHP with Sebi for over a ₹15,000 crore ($1.77Bn) public issue. (MC)

• Torrent Power secures ₹3,500 crore ($413Mn) via QIP. (BS)

• Edelweiss' alternate asset subsidiary EAAA India files DRHP for up to a ₹1,500 crore ($177Mn) IPO. (MC)

• BlueStone receives board approval for a ₹1,000 crore ($118Mn) IPO. (ET)

This week’s mainboard IPO schedule

• Vishal Mega Mart

  • Offering Period: 11 December - 13 December, 2024

  • Listing Date: 18 December, 2024

  • Issue Price: 74-78

  • Lot Size: 190

• Sai Life Sciences

  • Offering Period: 11 December - 13 December, 2024

  • Listing Date: 18 December, 2024

  • Issue Price: 522-549

  • Lot Size: 27

• Mobikwik

  • Offering Period: 11 December - 13 December, 2024

  • Listing Date: 18 December, 2024

  • Issue Price: 265-279

  • Lot Size: 53

• Inventurus Knowledge Solutions

  • Offering Period: 12 December - 16 December, 2024

  • Listing Date: 19 December, 2024

  • Issue Price: TBC

  • Lot Size: TBC

• International Gemmological Institute

  • Offering Period: 13 December - 17 December, 2024

  • Listing Date: 19 December, 2024

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• Paytm Singapore sold its PayPay stake to SoftBank Vision Fund 2 for ₹2,362 crore ($279.2Mn). (YS)

• RPG Group's Ceat to acquire the Camso brand from Michelin for ₹1,905 crore ($225Mn). (BS)

• Suven Pharma to acquire a 56% stake in a US-based firm for ₹544 crore ($64.4Mn). (ET)

• Laurus Labs' biotech unit raises ₹120 crore ($14.1Mn) from Eight Roads Ventures. (TH)

• Netscribes acquires Bengaluru-based Akira Insights. (YS)

Debt

• ADB approves ₹2,963 crore ($350Mn) loan to improve India's logistics and exports. (ET)

• SBI plans to sell ₹2,732 crore ($322Mn) of bad loans in ARSS Infrastructure Projects. (BS)

• Annapurna Finance raises ₹929 crore ($109.5Mn) via multilateral ECB transactions. (BS)

VC