OYO Concludes a Rs 1,000 Crore Funding Round

Hello,
Markets reached new all-time highs yesterday and ended the session near record levels. 2 IPO’s will open for subscription today with a third one scheduled for later in the week. Vodafone plans to sell a 10% stake in Indus, OYO finalised a 1,000 crore funding round from family offices and PFC approved a 15,000 crore loan to the Shapoorji Pallonji Group.

Markets📊 
As of 18/06/2024 Market Close

• Benchmark indices maintained their initial gains yesterday and reached new all-time highs. After climbing to these new peaks, both benchmarks concluded the session near their record levels.

• Markets are reacting positively to the upcoming budget, which is expected to balance growth and populism.

Notable Gainer & Loser📈📉 
Source: Moneycontrol

IIFL Finance Ltd +2.39%

• The stock of the gold financier climbed over 2 percent after the company announced it had addressed all deficiencies highlighted by the Reserve Bank of India (RBI) regarding its gold loan portfolio.

• Earlier this year, the RBI had directed IIFL Finance to cease sanctioning, disbursing, and selling gold loans due to 'material supervisory concerns' in its gold loan operations.

Som Distilleries and Breweries Ltd (6.15%)

• Shares plummeted over 6 percent after the National Commission for Protection of Child Rights (NCPCR) reported discovering 50 children working at the company's Madhya Pradesh plant.

• However, the firm denied responsibility for employing child labour, stating that a private contractor was accountable for the incident.

Yesterday’s Highlights📒 

• Adani has received environmental clearance for the Rs 45,000 crore ($5.38Bn) expansion of Mundra port. (BS)

• Coca-Cola has proposed a Rs 8,300 crore ($1Bn) deal involving the top four Indian business families. (BS)

• Vivo is scheduled to inaugurate its ₹3,000 crore ($359Mn) manufacturing facility in India in July. (BS)

• BPCL plans to invest Rs 1,400 crore ($167Mn) to establish sustainable aviation fuel facilities. (BS)

• Gruner is planning to establish a compressed biogas plant in Gujarat with an investment of Rs 220 crore ($26.3Mn). (BS)

• Cipla has made an additional investment of Rs 26 crore ($3.1Mn) in a German mRNA biotech company. (ET)

• State-run Coal India is exploring lithium assets in Argentina in collaboration with a US company. (BS)

• The Competition Commission of India (CCI) has approved Godrej Group's internal restructuring plan. (BS)

• Adani Ports has emerged as the leader among global peers in market value, driven by a significant surge in cargo volumes. (BS)

IPO / Issuances / Block Deals🚀 

• Bluestone is reportedly in discussions to raise Rs 830 crore ($99Mn) in pre-IPO funding. (BW)

• Goldman Sachs and Marshall Wace have sold Paytm shares worth Rs 208 crore($25Mn). (Moneycontrol)

• Ahead of its IPO, Dee Development Engineers has raised Rs 125 crore ($15Mn) from anchor investors. (Moneycontrol)

• Akme Fintrade, an NBFC, has secured ₹38 crore ($450k) from anchor investors ahead of its public issue. (Mint)

• Ixigo shares closed 78% higher on their market debut. (Moneycontrol)

This week’s mainboard IPO schedule

• DEE Development Engineers (RHP)

  • Offering Period: 19-21 June, 2024

  • Listing Date: 26 June, 2024

  • Issue Price: 193-203

  • Lot Size: 73

• Akme Fintrade (RHP)

  • Offering Period: 19-21 June, 2024

  • Listing Date: 26 June, 2024

  • Issue Price: 114-120

  • Lot Size: 125

• Stanley Lifestyles (RHP)

  • Offering Period: 19-21 June, 2024

  • Listing Date: 28 June, 2024

  • Issue Price: 351-369

  • Lot Size: 40

Deal Activity🤝 

M&A / Investments

• Vodafone plans to sell a 10% stake in Indus Towers to raise up to Rs 9,000 crore ($1.07Bn). (BS)

• Oyo has concluded a Rs 1,000 crore ($119Mn) fundraising round from Indian family offices. (ET)

• Jindal Stainless has acquired the remaining 46% stake in Chromeni Steels for Rs 278 crore ($33.3Mn). (BS)

• BLS E-Services is set to acquire a 55% stake in Aadifidelis Solution for Rs 190 crore ($22.7Mn). (BS)

• Shivalik Small Finance Bank has raised ₹100 crore ($12Mn) in equity investment, with the funding co-led by Lightspeed and Sorin Investments. (YS)

• Veefin Solutions Ltd has acquired a 51.31% stake in Estorifi Solutions Pvt Ltd. (BL)

• Ananta Capital has acquired a 55% stake in the personal care brand Anveya Living. (YS)

Debt

• Vodafone Idea is seeking a Rs 23,000 crore ($2.75Bn) term loan to bolster its 4G and 5G rollout efforts. (BS)

• The Power Finance Corporation board has approved a Rs 15,000 crore ($1.79Bn) loan to Shapoorji Pallonji Group companies. (ET)

• HUDCO has raised Rs 1,671 crore ($200Mn) from overseas lenders to facilitate its entry into the loan market. (BS)

• UGRO Capital has raised ₹1,400 crore ($167Mn) in equity capital and ₹1,265 crore ($151Mn) through CCDs. (YS)

• Aye Finance has secured ₹250 crore ($30Mn) in debt funding from FMO. (YS)

• Dvara KGFS has raised Rs 58 crore ($7Mn) in debt funding from Enabling Qapital. (YS)

Funds

• VentureSoul Partners has launched a ₹600 crore ($71.8Mn) debt fund. (EN)

VC🤑

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