OYO Investors Set for $3.9 Billion Stake Sale Shakeup

• Indian markets extended their winning streak for the third straight session on Thursday, January 16, driven by global trends as US CPI data for December came in below expectations, raising hopes of an earlier-than-anticipated US Fed rate cut.

• Optimism was further bolstered by robust earnings from leading US financial institutions such as JP Morgan, Wells Fargo, Citibank, and Goldman Sachs, along with the announcement of a ceasefire agreement between Israel and Hamas.

• In addition, strong Q3FY25 results from HDFC Life Insurance Company lifted sentiment in the sector, sparking a rally in major life insurance stocks.

• Sugar stocks also saw significant gains amid reports suggesting a possible hike in ethanol prices.

Bharat Dynamics +5.82%

• Bharat Dynamics shares jumped over 8%, hitting an intraday high of ₹1,227.9 on January 16, after securing a ₹2,960 crore order from the Ministry of Defence.

• In an exchange filing, the company announced the contract for supplying Medium-Range Surface-to-Air Missiles (MRSAM) to the Indian Navy.

• The deal was signed in New Delhi in the presence of Defence Secretary Rajesh Kumar Singh.

Nelco (2.18%)

• Nelco shares dropped 5.02% after releasing its December 2024 financial results. The stock opened at ₹1,176 and fell to a low of ₹1,117 during the session.

• The decline followed a reported 11.68% drop in net sales, a 20.04% fall in quarterly net profit, and a 24.49% decline in EBITDA, raising investor concerns over the company's financial performance.

• Asset Reconstruction Companies seek approval to access capital markets for equity. (ET)

• Delhivery launches 2-hour rapid commerce delivery service in Bengaluru. (BS)

• RBI relaxes FX regulations to boost cross-border trade. (ET)

• DPIIT holds talks with VCs and PEs to boost FDI. (BS)

• Bank of Maharashtra plans QIP of ₹2,500 crore ($291Mn) in FY26. (BS)

• Stallion India Fluorochemicals IPO was subscribed 7.08 times on Day 1. (Mint)

This week’s mainboard IPO schedule

• Laxmi Dental

  • Offering Period: 13 January - 15 January, 2025

  • Listing Date: 20 January, 2025

  • Issue Price: 407-428

  • Lot Size: 33

• Stallion India

  • Offering Period: 16 January - 20 January, 2025

  • Listing Date: 23 January, 2025

  • Issue Price: 85-90

  • Lot Size: 165

M&A / Investments

• OYO's investors in discussions to sell partial stake at a ₹33,000 crore ($3.9Bn) valuation. (TIA)

• Kedaara Capital invests ₹3,000 crore ($350Mn) in Impetus Technologies. (YS)

• Amazon to acquire digital lending startup Axio for over ₹1,285 crore ($150Mn). (EN)

• Avendus achieves the first close of Future Leaders Fund III at ₹850 crore ($99Mn). (YS)

• Recur Club introduces ₹150 crore ($17Mn) fund to support D2C brands on quick commerce platforms. (YS)

• Bain Capital acquires minority stake in Dhoot Transmission Group. (YS)

• Dubai's Emaar in discussions with Adani and others to sell stake in its Indian business. (BS)

• Sun Pharma's unit Taro to acquire full stake in Antibe Therapeutics. (BS)

Debt

• BPCL signs ₹31,802 crore ($3.7Bn) loan agreement with SBI-led consortium. (Mint)

VC