Swiggy IPO Soars with 18.97% Premium Debut!

• Indian markets fell for the fifth consecutive session on Wednesday, November 13, impacted by weak global trends, a stronger dollar index, a weakening rupee, and ongoing foreign investor selling.

• The increase in the dollar index and the sharp rise in U.S. 10-year bond yields to 4.42% are concerning, as high U.S. bond yields may prompt further outflows from emerging markets to the U.S.

• The rupee depreciated to a record low of 84.44 against the US dollar on Wednesday.

Ashoka Buildcon +4.05%

• The stock jumped 8 percent to Rs 240 per share on November 13 following strong July-September quarter results.

• The highway developer's net profit surged four-fold year-on-year to Rs 462 crore in Q2FY25, up from Rs 106 crore in the same period last year. Revenue from operations also grew by 15.5 percent YoY to Rs 2,489 crore in Q2FY25.

Hyundai Motor India (3.27%)

• The stock dropped up to 5 percent intraday on November 13, marking its third consecutive session of losses after the company posted weak second-quarter results.

• In Q2, its consolidated net profit declined by 16 percent to Rs 1,375 crore for the quarter ending September 30, 2024, impacted by lower domestic sales, geopolitical issues, and exports. This was the company’s first earnings report since its listing.

• SEBI proposes raising investment limits for angel funds. (RT)

• Quick commerce captures nearly half of Kirana sales; market projected to reach $40 billion by 2030. (ET)

• Zomato and Paytm have been added to NSE's F&O stocks. (MC)

• MFIs lower lending rates following RBI concerns. (ET)

• Swiggy's stock closed at ₹464 per share, marking an 18.97% premium to its IPO price. (Mint)

• ACME Solar had a weak market debut, with shares closing over 12% lower. (MC)

• Zinka Logistics Solutions' IPO was subscribed 24% on Day 1 of the offer. (MC)

• Niva Bupa is expected to have a modest debut on Dalal Street today. (MC)

This week’s mainboard IPO schedule

• Niva Bupa Health Insurance

  • Offering Period: 07 November- 11 November, 2024

  • Listing Date: 14 November, 2024

  • Issue Price: 70-74

  • Lot Size: 200

• Zinka Logistics

  • Offering Period: 13 November - 18 November, 2024

  • Listing Date: 21 November, 2024

  • Issue Price: Rs 259-273

  • Lot Size: 54

M&A / Investments

• Morgan Stanley and others acquired a 6.8% stake in PNB Housing for Rs 1,664 crore ($197Mn). (Mint)

• Tata Communications sells its entire ATM business stake for Rs 330 crore ($39.1Mn). (ET)

• Reliance will acquire TagZ Foods for Rs 28 crore ($3.3Mn) in a fire sale. (Inc42)

• Bain Capital is in talks to acquire a controlling stake in Manappuram. (IIFL)

• SaaS firm Kovai.co has acquired Floik to strengthen its knowledge management platform. (YS)

Debt

• NARCL raises its offer for Jaiprakash Associates' debt to Rs 12,000 crore ($1.42Bn). (ET)

VC/Funds

• Green Frontier Capital has launched a Rs 1,500 crore ($177Mn) fund focused on climate tech startups. (YS)

• BlueGreen Ventures has launched its maiden fund with a target size of Rs 632 crore ($75Mn). (YS)

• NAREDCO Maharashtra and Brigade REAP have set up a Rs 200 crore ($23.7Mn) fund to support proptech startups. (ET)

• Razorpay, Peak XV, and Lightspeed to back B2B startups with up to Rs 8.4 crore ($1Mn) funding. (YS)