Meesho Files ₹4,250 Crore IPO

• Indian equities extended their winning streak for a fourth straight session on Friday, June 27, driven by strong performances from heavyweights like Reliance Industries, ICICI Bank, and Bharti Airtel.

• The gains brought benchmark indices closer to their September highs, with both ending the week over 2% higher.

• Easing geopolitical tensions in the Middle East and a sharp drop in crude oil prices helped ease global economic concerns and lifted investor sentiment.

• However, the real estate sector saw renewed profit booking, pulling the Nifty Realty index down 1.55%. IT stocks also faced pressure after recent gains, with the Nifty IT index slipping 0.44%.

• Meanwhile, the rupee logged its best weekly performance in over two years, gaining 1.3% on the back of a weaker US dollar and falling crude prices.

Akzo Nobel +0.77%

• Shares of Akzo Nobel India surged over 6% in early trade after JSW Paints announced plans to acquire up to a 74.76% stake in the company. According to a regulatory filing, JSW Paints has entered into agreements to purchase the stake from Akzo Nobel’s parent and affiliates for up to ₹8,986 crore, subject to final adjustments.

• The deal is contingent on approval from the Competition Commission of India and will trigger a mandatory open offer to public shareholders.

Trent (0.79%)

• Trent shares, the parent company of Zudio, slipped over 1% as investors likely engaged in profit booking at elevated valuations.

• The stock is currently trading at a price-to-earnings ratio of 135x, prompting caution among market participants.

• Finmin asks public sector banks to monetise investments in subsidiaries via listing on bourses. (ET)

• Starlink set to receive final regulatory approval for India market launch. (BS)

• JioBlackRock Broking gets Sebi's approval to launch brokerage business. (ET)

• Govt set to launch digital platform for power sector soon. (ET)

• Meesho gets nod from shareholders to raise ₹4,250 crore ($497Mn) through IPO. (MC)

• Juniper Green Energy files draft papers to raise ₹3,000 crore ($350Mn) via IPO. (MC)

• Curefoods files IPO papers, to raise ₹800 crore ($93.5Mn). (MC)

• Aeroplane Rice files IPO papers to raise ₹550 crore ($64.3Mn). (MC)

• Wakefit files IPO papers, to raise ₹468 crore ($54.7Mn) via fresh issue. (MC)

• HDB Financial IPO closes with 17x subscription; QIB portion booked 55x. (MC)

• Sambhv Steel Tubes IPO gets 28x subscription on day 3 of bidding. (MC)

• Indogulf Cropsciences IPO subscribed 93% on Day 2, retail portion fully booked. (MC)

This week’s mainboard IPO schedule

• Indogulf Cropsciences

  • Offering Period: 26 June - 30 June, 2025

  • Listing Date: 03 July, 2025

  • Issue Price: 105 - 111

  • Lot Size: 135

• Crizac

  • Offering Period: 02 July - 04 July, 2025

  • Listing Date: 09 July, 2025

  • Issue Price: 233-245

  • Lot Size: 61

• Travel Food Services

  • Offering Period: 03 July - 07 July, 2025

  • Listing Date: 10 July, 2025

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• Torrent Pharma to buy controlling stake in JB Chemicals from KKR for Rs 25,689 crore ($3Bn). (ET)

• JSW Paints to buy almost 75% stake in Akzo Nobel India for ₹8,986 crore ($1Bn). (MC)

• TPG-backed Altimetrik buys SLK Software for ₹512 crore ($600Mn). (ET)

• HDFC MF buys ₹137 crore ($16Mn) stake in Sundram Fasteners. (MC)

• Gaja capital invests ₹125 crore ($14.6Mn) in Eggoz. (EN)

VC