Zomato to Launch ₹8,500 Cr QIP

• The Indian stock market continued its decline for the sixth straight session on Thursday, November 14, though the selling pressure eased as major stocks like Reliance Industries and HDFC Bank offered support, limiting further losses.

• Banking and auto stocks saw renewed interest, helping frontline indices rise by 0.50% in early trading. However, significant selling in FMCG stocks weighed on the indices, resulting in a flat close.

Zomato +4.36%

• Zomato shares climbed over 4% amid speculation of its potential inclusion in the Nifty 50 index during the March reshuffle, driven by its free-float market capitalization and its presence in the F&O segment.

PI Industries (4.07%)

• PI Industries shares dropped over 4% after the company significantly lowered its FY25 revenue growth guidance due to ongoing industry challenges.

• The agrochemical firm revised its FY25 growth outlook to high single digits, down from the earlier projection of 15%.

• Vi's turnaround at risk as ₹25,000 crore debt-raising plan faces setbacks. (ET)

• SEBI proposes greater accountability for AI use by market entities. (YS)

• FICCI and GDAI sign MoU to strengthen India’s video gaming industry. (AX)

• Gold set for its biggest weekly drop in 3 years as Fed rate-cut expectations diminish. (RT)

• Asia Gold India premiums hit 4-month high as price drop boosts customer demand. (RT)

• A new senior citizens policy is being developed after 25 years. (ET)

• Zomato to launch a ₹8,500 crore ($1Bn) QIP in December. (MC)

• Boat plans Rs 2500-4200 crore ($300-500Mn) IPO with bankers on board. (ET)

• CIEL HR to file draft papers for a ₹450 crore ($53.3Mn) IPO soon. (MC)

• Zinka Logistics Solutions IPO subscribed 32% on day 2. (MC)

• Niva Bupa Health Insurance shares closed flat on debut due to weak market conditions. (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: TBC

  • Lot Size: TBC

M&A / Investments

• RIL, Viacom18, and Disney finalize Star India merger with a ₹11,500 crore ($1.36Bn) investment. (YS)

• NTPC-ONGC green energy JV bids Rs 5,491 crore ($650Mn) for Ayana Renewable. (BS)

• Zepto seeks Rs 2,500 crore ($300Mn) funding amid intensifying quick commerce competition. (ET)

• Agro Tech Foods acquires Bharti Group's Del Monte Foods for ₹1,300 crore ($153Mn). (BS)

• Ritesh Agarwal to invest ₹550 crore ($65.1Mn) to boost his stake in Oyo. (ET)

• EaseMyTrip to acquire a 49% stake in Planet Education for ₹39 crore ($4.6Mn). (TTW)

• Tata to acquire a majority stake in Pegatron's iPhone plant in Tamil Nadu. (BS)

Debt

• Adani Green Energy plans to raise $2 billion through international bonds and loans. (ET)

• SBI aims to secure $1.25 billion in the largest dollar loan of 2024. (BS)

• Mankind Pharma pledges a 39.68% stake in Bharat Serums for ₹5,000 crore ($591Mn) NCDs. (BS)

• National Housing Bank raises ₹3,830 crore ($454Mn) via 10-year bonds at 7.14%. (BS)

• ACME Sun Power secures ₹3,753 crore ($444Mn) term loan from state-owned REC. (BS)

• Sirius India Airlines plans to raise Rs 844 crore ($100Mn) to expand services. (BS)

• Piramal Capital seeks counterbids to sell ₹702 crore ($83Mn) in bad loans. (BS)

• Ujjivan Small Finance Bank plans to sell ₹270 crore ($32Mn) in micro-banking loans. (BS)

VC

• Pavestone VC raises ₹816 crore ($96.6Mn) for a technology-focused fund. (YS)

• Cedar-IBSi Capital plans to invest in 10-15 fintech startups. (BS)