Niva Bupa files for a 3,000 Crore IPO

Hello,
The markets had a positive start to the week, with the IT, financials, and metals sectors seeing gains. Both midcap and small cap indices performed strongly, each rising by about 1.5%. Niva Bupa has filed a DRHP for a 3,000 crore IPO, KKR invests 2,000 crore in the healthcare sector and the Allied Blenders IPO is expected to list with a 20% premium today.

Markets📊 
As of 01/07/2024 Market Close

• The markets started the week on a positive note, gaining nearly half a percent and continuing the uptrend. The Nifty, which started flat, gradually rose to approach Friday’s highs, closing at 24,123.35.

• Sector-wise, IT, financials, and metals saw decent gains, while energy and realty dipped by about half a percent. The broader indices performed well, with both midcap and small cap indices gaining around 1.5% each.

Notable Gainer & Loser📈📉 
Source: Moneycontrol

PVR INOX Ltd +4.88%

• The stock of this multiplex operator surged 4.8 percent, driven by optimism over strong box office collections and an impressive upcoming film slate.

• The newly released multi-starrer film 'Kalki 2898 AD' grossed an impressive Rs 415 crore worldwide, with over Rs 220 crore net in India in just three days.

India Cements Ltd (3.60%)

• The cement manufacturer's stock fell 3.6 percent after the company announced on July 1 that P Munireddy, President (Operations) at the Corporate Office and a Senior Management Personnel, retired after 12 years of service.

Yesterday’s Highlights📒 

• According to Morgan Stanley, Reliance Industries has the potential to increase its market cap by up to $100 billion. (BS)

• India has increased the windfall tax on petroleum crude. (ET)

• India is poised to surpass Japan and become Sony's third-largest global market within the next two years. (ET)

• Banks are resorting to tapping the debt markets due to tight liquidity conditions. (ET)

• Staff associations of mainstream lenders and regional rural banks are in disagreement over a merger proposal. (ET)

• Retrofitting inter-city diesel buses has the potential to create more than 50,000 jobs. (ET)

• The government is actively working on aggregating CA firms and developing accounting standards tailored to the insurance sector. (ET)

• Heatwaves have significantly impacted hotels' revenue growth. (ET)

IPO / FPO / Issuances🚀 

• Health insurer Niva Bupa has filed a draft prospectus for an IPO aiming to raise Rs 3,000 crore. (Moneycontrol)

• Shivalik Engineering has filed a draft prospectus for IPO, outlining plans for a fresh issue of Rs 335 crore. (Moneycontrol)

• FirstCry's parent company, Brainbees Solutions, receives SEBI approval to launch IPO. (BS)

• Unicommerce eSolutions Limited receives SEBI approval to launch IPO. (Mint)

• EQT Private Capital Asia-backed Sagility India has filed IPO papers, featuring only an OFS by the promoter, with no fresh issue component. (Moneycontrol)

• Allied Blenders IPO is expected to list with a 20% premium today. (Moneycontrol)

• Mamata Machinery has filed IPO papers with SEBI, with the entire issue being Offer for Sale (OFS). (Moneycontrol)

This week’s mainboard IPO schedule

• Emcure Pharmaceuticals (RHP)

  • Offering Period: 03-05 July, 2024

  • Listing Date: 10 July, 2024

  • Issue Price: 960-1008

  • Lot Size: 14

• Bansal Wire Industries (RHP)

  • Offering Period: 03-05 July, 2024

  • Listing Date: 10 July, 2024

  • Issue Price: 243-256

  • Lot Size: 58

Deal Activity🤝 

M&A / Investments

• KKR is set to acquire a controlling stake in Baby Memorial Hospital for Rs 2,000 crore. (Mint)

• Patanjali Foods is set to acquire Patanjali Ayurved's home and personal care business for Rs 1,100 crore. (ET)

• Purplle secures Rs 1,000 crore in a funding round led by ADIA. (YS)

• US fund Platinum has acquired Inventia Health as part of its foray into India. (ET)

• HDFC Capital acquires an 8.5% stake in TruBoard Technologies. (ZB)

• TVS Mobility arm has acquired automotive components supplier Roberto Nuti. (BS)

• India Cements has denied rumors of holding talks for a Rs 500 crore funding deal with BofA and Nomura. (BS)

VC🤑

• Matrix Partners rebrands its Indian division as Z47. (EN)

Enjoy this newsletter? Forward to a friend and have them signup here.