Reliance Jio May List at a Valuation of $112 Billion In 2025

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Markets ended flat as profit booking continued in select heavyweight stocks. Expect markets to showcase similar trends until the budget announcement on July 23. Jefferies said Reliance Jio could list at a gargantuan $112 billion valuation in 2025, iconic restaurant Adyar Ananda Bhavan seeks to raise ₹1,000-1,200 crore from PE funds and Piramal Capital has raised a $100-million social loan amongst an array of deals that were concluded yesterday.

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Markets📊 
As of 11/07/2024 Market Close

• Benchmark indices remained steady on Thursday, continuing the pattern of selectively choosing certain stocks while selling others for profit.

• Experts note that the market is having difficulty breaking out of its current range due to a lack of fresh triggers. This trend may continue until the Budget announcement on July 23.

Notable Gainer & Loser📈📉 
Source: Moneycontrol

Sun Tv Network Ltd +4.21%

• As much as 1 percent equity of Sun TV Network was sold in a significant deal worth Rs 280 crore on July 11.

• This sent shares of the company soaring 3.5 percent higher to a 52-week high of Rs 808.45.

Tata Elxsi Ltd (2.24%)

• Shares of Tata Elxsi continued to slide during the trading session on Thursday as the Tata Group-backed IT solution provider fell another 3 percent following a muted set of numbers in the June 2024 quarter.

• The company announced its earnings for the April-June quarter on Wednesday, after market hours.

Yesterday’s Highlights📒 

• NPCI International has partnered with Qatar National Bank to enable UPI payments in Qatar. (YS)

• The total value of India's top 100 realty companies has surged by 70% in just one year. (BS)

• India surpasses China in the number of billion-dollar realty companies. (ET)

• Invesco has reduced the valuations of its stake in Pine Labs and Swiggy. (YS)

• Concierge services are gaining popularity in India. (ET)

• India's gold processing industry is expected to create 25,000 new jobs by 2030. (FE)

IPO / FPO / Issuances🚀 

• Reliance Jio could be listed at a $112 billion valuation in 2025 according to Jefferies. (BS)

• Vi shareholders have approved a Rs 2,458 crore ($294Mn) preferential issue to Nokia and Ericsson. (BS)

There are no mainboard IPOs for this week.

Deal Activity🤝 

M&A / Investments

• Brookfield is set to acquire a controlling stake in Leap Green Energy for Rs 4,592 crore ($550Mn). (BS)

• TA Associates has led a Rs 3,340 crore ($400Mn) investment in Vastu Housing. (ET)

• Adyar Ananda Bhavan seeks to raise ₹1,000-1,200 crore ($119-143Mn) from PE funds. (ET)

• The Canada Pension Plan Investment Board sells shares in Delhivery through a block deal worth 910 crore ($109Mn). (YS)

• NARCL has offered Rs 360 crore ($43Mn) to acquire the bad debt of Delhi-based Agson Global. (BS)

• A & MA Capital USA has invested Rs 41 crore ($5Mn) in Planet Marathi OTT. (YS)

• The Canada Pension Plan Investment Board has offloaded a 0.52% stake in Nykaa. (YS)

• Adani Wilmar plans to acquire a 67% stake in Omkar Chemicals, aiming to expand its footprint. (BS)

• UltraTech has acquired an additional 25% stake in the UAE-based RAKWCT, turning it into a subsidiary. (YS)

• MGM Healthcare's promoter acquires Vizag's SevenHills Hospital under IBC. (ET)

• IdeaForge has acquired a non-controlling stake in the spacetech startup GalaxEye. (YS)

• Astrotech startup Melooha has acquired the generative AI firm Munitalks. (BW)

Debt

• Vodafone Idea is seeking a waiver of the Rs 24,700 crore ($2.95Bn) bank guarantee from the DoT. (ET)

• Reliance Industries' subsidiary, Ethane, is planning to secure an offshore loan exceeding Rs 4,175 crore ($500Mn). (BS)

• Piramal Capital has raised a Rs 835 crore ($100Mn) social loan. (ET)

• ATC Telecom has converted Rs 160 crore ($19.2Mn) worth of Vodafone Idea debt bonds into equity. (BS)

• Greenko's subsidiary has cancelled its dollar bond issue and will instead tap into bank loans. (ET)

• Sadbhav Engineering is seeking debt restructuring, with interim debt involved at two SPVs. (ET)

VC🤑

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