Lenskart Eyes $10B IPO Valuation

• After an eight-day losing streak, bulls regained control on Dalal Street, lifting the front-line indices into positive territory on Monday. Despite opening in the red, Nifty 50 and Sensex saw a strong rebound, driven by financials and pharma stocks.

• The recovery was largely technical, as sustained selling had pushed stocks into oversold territory, attracting investors looking to capitalize on the correction.

• With no immediate domestic catalysts, market sentiment remains influenced by global factors, particularly rising trade tensions that could disrupt supply chains and slow economic growth.

GSK Pharma +15.91%

• GSK Pharma shares surged 20% to hit the upper circuit after December quarter earnings exceeded estimates, driven by strong volume growth and continued expansion in vaccine offtake.

• Brokerages maintained their bullish stance on the stock.

Concord Biotech (0.86%)

• Concord Biotech shares dropped nearly 12% intraday after Q3FY25 earnings.

• The company posted a net profit of ₹76 crore, down 2% from ₹78 crore YoY, along with a decline in revenue.

• India and the EU will hold the next round of talks on the proposed FTA from March 10. (ET)

• The government is considering increasing the deposit insurance limit beyond ₹5 lakh. (ET)

• India will continue reviewing and rationalizing trade tariffs, says FM Sitharaman. (ET)

• Lenskart is targeting a ₹86,000 crore ($10Bn) valuation in its IPO. (BW)

• NIIF invests ₹700 crore ($80Mn) in Lightstorm to expand fiber connectivity. (ET)

• M&B Engineering refiles draft papers for ₹650 crore ($74Mn) IPO. (MC)

• CIEL HR Services receives SEBI approval for ₹335 crore ($38Mn) IPO. (Mint)

• Solitario secures ₹31 crore ($3.6Mn) in pre-IPO funding for expansion. (BW)

• Quality Power IPO was subscribed 83% on Day 2, driven by NII and retail investors. (MC)

• Ajax Engineering shares ended 6% lower on listing day. (MC)

• KBC Global approves a bonus issue. (ET)

This week’s mainboard IPO schedule

• Quality Power Electrical Equipments

  • Offering Period: 14 February - 18 February, 2025

  • Listing Date: 21 February, 2025

  • Issue Price: 401-425

  • Lot Size: 26

M&A / Investments

• Udaan raised ₹651 crore ($75Mn) from existing investors in its latest funding round. (YS)

• Stelmec raises ₹175 crore ($20Mn) led by Abakkus Fund. (EI)

• Bajaj Consumer Care to acquire Vishal Personal Care for ₹108 crore ($12Mn). (ET)

• Sirona founders near ₹150 crore ($17.2Mn) buyback from Good Glamm Group. (Inc42)

• A91 Partners invests ₹50 crore ($5.7Mn) in fashion brand Rare Rabbit. (YS)

• Landmark Group invests ₹37 crore ($4.26Mn) in cloud kitchen startup Curefoods. (EN)

• InCred Group acquires Arrow Capital to expand Middle East operations. (ISN)

• NextLeap acquires PM School to enhance product management training. (BW)

• 360 ONE Asset to acquire a 15% stake in Bharti AXA. (BS)

Debt

• Tata Capital plans to raise ₹15,000 crore ($1.72Bn) through green bonds and NCDs. (BS)

• Adhunik Power is in talks to refinance ₹1,500 crore ($172Mn) debt. (ET)

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