SEBI Approves Bajaj Housing Finance's ₹7,000 Crore IPO

• Global markets experienced a significant downturn during yesterday's trading session, continuing the trend from Friday. Concerns over a potential U.S. recession drove investors away from risky assets, resulting in a sharp decline in equities across both Western and Eastern markets.

• Investor sentiment was further weakened by escalating tensions in the Middle East. Analysts are worried that Israel's ongoing war against Palestinians in Gaza, which began last October following attacks on Israel, could potentially expand into a broader conflict involving more countries.

• Today's decline also marked the steepest intraday drop since June 4, when the Lok Sabha election results did not meet the expectations set by exit polls.

• The rupee fell to an all-time low due to worries about outflows.

Devyani International Ltd +0.65%

• Shares gained 0.7 percent after the company reported a net profit of Rs 22.43 crore for the June quarter, a significant recovery from the loss of Rs 1.59 crore in the same period last year.

• Additionally, the company posted a 44.3 percent year-over-year increase in revenue, reaching Rs 1,221.9 crore.

Ashoka Buildcon Ltd (5.11%)

• Shares plummeted over 5 percent despite the company emerging as the lowest bidder for two Mumbai Metropolitan Region Development Authority (MMRDA) projects worth approximately Rs 1,280 crore.

• This drop followed a nearly 3 percent market crash, driven by negative global cues and heightened recession fears.

• Gold prices rebound as consumers rush to buy amid rising geopolitical tensions. (ET)

• Packaged food makers are preparing to raise prices due to increasing input costs. (ET)

• Flipkart's 10-minute delivery service, Minutes, is now live in Bengaluru. (EN)

• Bill in Parliament aims to bring policy stability to the oil and gas sector. (YS)

• ISMA renews its call for the removal of sugar export curbs. (FE)

• The RBI proposes new guidelines to regulate credit risk models. (YS)

• NITI Aayog will outline a roadmap for the deepening of the corporate bond market. (ET)

• The pharma industry urges the government for a stable drug pricing policy. (ET)

• The FAME 3 scheme is nearing completion, with the timeline yet to be announced. (ET)

• The rupee falls to a lifetime low amid concerns over outflows. (ET)

• SEBI has approved Bajaj Housing Finance's ₹7,000 crore ($836Mn) IPO. (Mint)

• FirstCry has raised Rs 1,886 crore ($225Mn) through its anchor book ahead of its public issue. (Mint)

• Unicommerce Esolutions garners ₹124 crore ($14.8Mn) from anchor investors ahead of its public issue. (Mint)

• Akums Drugs' shares are expected to debut with gains of 10-15% on August 6. (Moneycontrol)

• Ola Electric's IPO was fully subscribed on Day 2, with the retail portion booked 2.87 times. (Moneycontrol)

• Ceigall India's IPO was subscribed 13.78 times on the third day, with significant interest from QIBs and NIIs. (ET)

  
  This week’s mainboard IPO schedule

• Ceigall India (RHP)

  • Offering Period: 01-05 August, 2024

  • Listing Date: 08 August, 2024

  • Issue Price: 380-401

  • Lot Size: 37

• Ola Electric Mobility (RHP)

  • Offering Period: 02-06 August, 2024

  • Listing Date: 09 August, 2024

  • Issue Price: 72-76

  • Lot Size: 195

• Brainbees Solutions (RHP)

  • Offering Period: 06-08 August, 2024

  • Listing Date: 13 August, 2024

  • Issue Price: 440-465

  • Lot Size: 32

• Unicommerce eSolutions Mobility (RHP)

  • Offering Period: 06-08 August, 2024

  • Listing Date: 13 August, 2024

  • Issue Price: 102-108

  • Lot Size: 138

M&A / Investments

• Global private equity firm Apax Partners' fund has acquired a 52.1% stake in greytHR. (YS)

VC/Funds

• India Inflection Opportunity Trust launches its second AIF, targeting Rs 2,000 crore ($238Mn). (YS)

• Sauce.vc has successfully closed its third fund with a corpus of Rs 365 crore ($43.6Mn). (YS)