Roy Kapur Films Seeks $50M for 50% Stake Sale

• Indian benchmark indices ended lower on Monday, November 18, extending their losing streak to a seventh straight session, the longest since February 2023.

• The market remained under bearish pressure, limiting opportunities for a recovery. Both the Sensex and Nifty 50 faced volatility, with significant selling in the IT and metals sectors.

• HDFC Bank and auto stocks offered some support, but it wasn’t enough to counter the prevailing bearish trend. However, their performance helped the indices recover from intraday lows.

NALCO +8.61%

• NALCO and other metal stocks rallied as China announced plans to reduce or cancel export tax rebates on certain aluminium and copper products.

• A potential decline in Chinese exports could tighten global supply and drive up prices, given China’s position as the largest producer of aluminium and alumina.

IGL (19.84%)

• Shares of city gas distribution companies, including MGL, plunged after the government reduced the Administered Price Mechanism (APM) allocation to CGD players by 20% for the second consecutive month.

• Additionally, IGL reported a further 10% cut beyond the approximately 20% reduction announced on October 16.

• Quick commerce companies face delivery delays as smog reduces workforce availability. (ET)

• The urban jobless rate fell to a 6-year low of 6.4% in Q2. (BS)

• India plans a major insurance overhaul this winter, potentially allowing 100% FDI in the sector. (ET)

• India has revised norms for dividend payouts and share buybacks for state-run firms. (RT)

• The government has rejected key RBI proposals, fearing a slowdown in credit growth. (ET)

• The UK will relaunch trade talks with India, aiming for a "new strategic partnership." (RT)

• NTPC Green Energy raised Rs 3,960 crore ($468Mn) through its anchor book. (MC)

• Crizac plans to raise Rs 1,000 crore ($118Mn) via IPO and has refiled its SEBI papers. (MC)

• ArisInfra has received SEBI approval for its Rs 580 crore ($68.7Mn) IPO. (MC)

• Matrix Geo, a drone-based geospatial firm, raised Rs 8.4 crore ($1Mn) in a pre-IPO round. (EN)

• Zinka Logistics' IPO was subscribed 1.85 times on the final bidding day. (YS)

This week’s mainboard IPO schedule

• Zinka Logistics

  • Offering Period: 13 November - 18 November, 2024

  • Listing Date: 21 November, 2024

  • Issue Price: Rs 259-273

  • Lot Size: 54

• NTPC Green Energy

  • Offering Period: 19 November- 22 November, 2024

  • Listing Date: 27 November, 2024

  • Issue Price: 102-108

  • Lot Size: 138

• Enviro Infra Engineers

  • Offering Period: 22 November - 26 November, 2024

  • Listing Date: 29 November, 2024

  • Issue Price: 140-148

  • Lot Size: 101

M&A / Investments

• Bharti Global has completed the acquisition of a 24.5% stake in BT Group from Altice UK for $4Bn. (BS)

• Roy Kapur Films plans to sell up to a 50% stake and is seeking Rs 422 crore ($50Mn) in funding. (BS)

• Biryani By Kilo has raised Rs 16.8 crore ($2Mn) from Pulsar Capital. (Inc42)

• The Good Glamm Group acquires The Moms Co with a 100% stake. (YS)

• MakeMyTrip will acquire Happay from CRED to enhance its corporate travel services. (YS)

• India's Apollo Radiology has acquired the reporting wing of the UK's InHealth Group. (BS)

VC/Funds

• Alpha Alternatives raised Rs 3,800 crore ($449Mn) through the first close of its maiden infrastructure fund. (ET)