Zepto seeks $300M before IPO

• Hopes of a rebound faded despite the RBI’s 25 bps rate cut, as the Sensex and Nifty 50 extended their losing streak for a third straight session on Friday, February 7.

• While rate cuts typically lift sentiment, the move had little impact since the market had already priced it in. Adding to the disappointment, RBI Governor Sanjay Malhotra provided no clear guidance on the rate reduction cycle.

• Weak corporate earnings and persistent FII selling further weighed on the market, driving the continued decline.

• The Indian rupee strengthened on Friday after a week of struggles, having hit a record low beyond 87 amid persistent foreign portfolio outflows and global market turmoil over trade war fears.

Bharti Airtel +3.60%

• Bharti Airtel shares surged 5% after the company posted a remarkable 505% jump in Q3FY25 net profit, driven primarily by a one-time gain from consolidating a majority stake in Indus Towers.

Cochin Shipyard (3.43%)

• Cochin Shipyard shares fell 5% after a 27% YoY drop in Q3FY25 profit, declining from ₹244 crore to ₹177 crore. The weak earnings raised concerns over short-term growth, weighing on the stock.

• Govt approves ₹8,800 crore ($1Bn) outlay for restructuring Skill India programme. (YS)

• RBI cuts policy rate by 25 bps to 6.25%, its first reduction in five years. (BBC)

• Repo rate cut to bring much-needed relief on interest rates, say experts. (YS)

• Zepto seeks ₹2,629 crore ($300Mn) from domestic mutual funds before its IPO. (MC)

• Ajax Engineering secures ₹379 crore ($43Mn) from anchor investors before its IPO. (MC)

• IPO-bound Zetwerk to raise about ₹262 crore ($30Mn) . (OB)

• Shringar House of Mangalsutra files for ₹250 crore ($28Mn) IPO. (MC)

• Advanced Sys-Tek files for ₹115 crore ($13Mn) IPO with SEBI. (MC)

• Urban Company converts into a public entity ahead of its IPO. (EN)

This week’s mainboard IPO schedule

• Ajax Engineering

  • Offering Period: 10 February - 12 February, 2025

  • Listing Date: 17 February, 2025

  • Issue Price: 599-629

  • Lot Size: 23

• Hexaware Technologies

  • Offering Period: 12 February - 14 February, 2025

  • Listing Date: 19 February, 2025

  • Issue Price: 674-708

  • Lot Size: 21

• Quality Power Electrical Equipments

  • Offering Period: 14 February - 18 February, 2025

  • Listing Date: 21 February, 2025

  • Issue Price: TBC

  • Lot Size: TBC

M&A / Investments

• Dhan seeks up to ₹1,314 crore ($150Mn) funding at a unicorn valuation. (Inc42)

• Alkem Labs acquires two skincare and medtech firms for ₹287 crore ($32Mn). (HBL)

• Perfios acquires Clari5 to strengthen fraud detection capabilities. (YS)

• Zaggle to acquire an additional 17% stake in Mobile Technologies. (Inc42)

• UK-based Bupa may raise its stake in Niva Bupa Health Insurance. (BS)

Debt

• Auxilo raises ₹50 crore ($5.7Mn) debt from Motilal Oswal. (EN)

VC