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- SoftBank eyes $70M Investment in Country Delight
SoftBank eyes $70M Investment in Country Delight
Hello,
Markets rebounded on Tuesday, breaking their losing streak, as most sectoral indices ended in positive territory. Gains were led by Media, Realty, IT, and Auto stocks, though uncertainty persists over the extent of further market corrections.
Meanwhile, the National Payments Corporation of India (NPCI) reported that only 0.8% of UPI transactions now face technical declines. In corporate developments, Kedaara Capital-backed Vishal Mega Mart is planning an ₹8,000 crore IPO by mid-December, while SoftBank is in early discussions to lead a ₹591 crore funding round in Country Delight, read more here.
P.S. Although today is a market holiday due to the Maharashtra Assembly elections, we decided to bring you an issue nonetheless 😄
As of 19/11/24
After experiencing their longest consecutive losing streak since February 2023, Indian benchmark indices rebounded on Tuesday, November 19. The BSE Sensex and Nifty50 recorded significant gains, fuelled by strong performances in IT, auto, and energy stocks.
The Nifty Media index led the surge with a 3.7 percent rise, while the Nifty Realty, IT, Auto, and Consumer Durable sectors each advanced by over 2 percent.
Nifty 50 | 0.28% | 23,518.50 |
BSE Sensex | 0.31% | 77,578.38 |
Nifty Bank | 0.52% | 50,626.50 |
Nifty IT | 0.83% | 41,748.35 |
Nifty Vix | 6.64% | 16.18 |
10 yr Bond | 1.48% | 6.922 |
USD>INR | 2bps | 84.412 |
Source: Moneycontrol
Akums Drugs +5.00%
The stock hit a 5 percent upper circuit, breaking a ten-day losing streak during which it had fallen by 35 percent. The company has signed an exclusive master sales agreement with Caregen Co Ltd, a leading South Korean player in the nutraceuticals sector.
Under this agreement, Akums Drugs gains exclusive rights to sell specific Caregen products in India for the duration of the agreement.
Honasa Consumer (11.61%)
Shares gained nearly 3 percent as the company reported handling over 1 crore passengers in October 2024, reflecting a 9.2 percent YoY growth in both domestic and international traffic.
Cargo volumes for FY25 year-to-date reached 0.65 million metric tonnes, a 14.8 percent YoY increase. Additionally, the Mopa (Goa) Airport expansion was completed, boosting passenger capacity from 4.4 million to 7.7 million.
Only 0.8% of UPI transactions now face technical declines, says NPCI. (ET)
IRDAI urges bankers to focus on their core roles and avoid mis-selling insurance. (ET)
Small homegrown wearables brands are exiting due to narrow margins and Chinese competition. (ET)
MFI stress emerges as RBI's small-loan concerns materialize. (ET)
Hilton plans to expand in India amid rising leisure travel demand. (RT)
Work begins on a credit index for MSMEs to enhance funding access. (ET)
SEBI releases consultation paper to revamp the SME IPO framework. (Inc42)
Kedaara Capital-owned Vishal Mega Mart plans an Rs 8,000-crore ($947Mn) IPO by mid-December. (MC)
Aegis Vopak Terminals plans a Rs 3,500 crore ($414Mn) IPO, filing DRHP with SEBI. (MC)
Saatvik Green Energy files draft papers for a Rs 1,150 crore ($136Mn) IPO. (MC)
NTPC Green Energy IPO's retail portion was fully subscribed on Day 1, with 33% overall bids. (MC)
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
Colt DCS and RMZ form a joint venture to invest Rs 14,361 crore ($1.7Bn) in India data centers. (DCM)
Mavco Investments and Avenue Capital Group acquire Hubergroup for Rs 4,139 crore ($490Mn). (BS)
Adani Infra to acquire a 30% stake in PSP Projects for Rs 685 crore ($81Mn). (BS)
SoftBank is in early talks to lead a Rs 422-591 crore ($50-70Mn) funding round in Country Delight. (YS)
Debt
Godrej Industries raises Rs 1,000 crore ($118Mn) through NCDs in two tranches. (BS)
VC/Funds
Ex-IFC executive Sayan Ghosh launches Rs 300 crore ($35.5Mn) OG Capital fund. (EN)
Category | Company | Amount |
---|---|---|
Alcohol | Rs 30 crore ($3.5Mn) | |
Fintech | Rs 16.8 crore ($2Mn) | |
Food | Rs 16.8 crore ($2Mn) | |
Legaltech | Rs 1.68 crore ($200k) |
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