EQUITY FIRM
For a handful of equity and shine, investors open 4.3 m Demat a/cs
In recent activity, nearly 3.9 million new investor accounts were opened with the Central Depository Services Ltd (CDSL), and an additional 0.4 million accounts were registered with the National Securities Depository (NSDL). By comparison, May witnessed a total of 4 million new accounts, while April saw 2.6 million new accounts.
Mcap of BSE-listed firms hit all-time high of Rs 447.40 lakh cr
The market capitalisation of BSE-listed firms hit a record high of Rs 447.30 lakh crore on Thursday with the benchmark Sensex closing at a fresh all-time high level. The 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. The index pared most of the gains later due to volatility and profit-taking by investors and settled 62.87 points or 0.08 per cent higher at 80,049.67.
Global firms buy PB Fintech stakes from early backers
Foreign portfolio investors (FPIs) have lapped up shares in Gurugram-based listed fintech firm PB Fintech, as its founders and early investors sold their shares, in full or in part, in multiple tranches. These transactions happened through bulk deals when several early-stage investors of the company exited the firm fully or partly after 2021, when it went public.
Google buys stake in Taiwan solar power firm owned by BlackRock
Investing in New Green Power in Taiwan, I drive sustainable energy solutions for manufacturers, reducing Scope 3 emissions. This aligns with my commitment to carbon-free operations and environmental sustainability, supporting solar capacity growth in the region.
Gujarat-based packaging equipment firm Mamata Machinery files IPO papers with Sebi
Packaging equipment manufacturer Mamata Machinery Ltd has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO). The Gujarat-based company's initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP).
Sebi mulls relaxing some disclosure norms for listed firms
The Securities and Exchange Board of India (SEBI) is also evaluating giving listed companies more time to publicly disclose litigations or disputes that they are involved in, it said in a consultation paper published on Wednesday.
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London PE Finnest takes majority stake in cloud kitchen firm Kitchens@ with $160 million investment
London-based PE firm finnest has acquired a majority stake in cloud kitchen startup Kitchens@ with an investment of Rs 1,335 crore, making it the largest shareholder. This round values Kitchens@ at $305 million, post-money, sources told ET. Kitchens@ provides services like ready-made kitchen setups, as well as supply chain and hiring support to cloud kitchens.
Novavente raises $3 million from Highbrow Securities
The partnership with Highbrow Securities is also expected to enhance Novavente's market credibility as it prepares for a public listing on the London Stock Exchange. The sales consulting firm will use the fresh funds to fuel expansion plans and enhance offerings and services. Beyond its core business, Novaventa has also invested in developing generative AI products.
Private equity firm Olympus to sell upto 10% stake in Aster DM Healthcare on Friday
Olympus Capital Asia Investments is set to trim its stake in Aster DM, with a base offering of 2.5 crore shares, representing 5% of the company. Olympus currently holds a 10.1% stake in Aster DM.
BPEA credit raises Rs 375 cr in re fund
Private equity firm BPEA Credit closed the first round of its latest rupee fund, SSTIF-I, targeting ₹750 crore with a green shoe option. Kanchan Jain leads the fund with a unique yield profile for 10-12 investments in various sectors.
WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 crore
WestBridge Capital divested a 1.7% stake in AU Small Finance Bank for Rs 845 crore through an open market transaction, impacting its shareholding in the bank significantly. Goldman Sachs Investments Mauritius I acquired a substantial number of shares in the same bank.
Paris stock market no longer Europe's biggest, top French firms lost over 10%
France lost its spot as Europe's biggest equity market after President Macron's snap election announcement caused a $258 billion market cap loss.
Furniture firm Stanley Lifestyles' IPO opens June 21
The offer consists of a fresh issue of ₹200 crore and an offer for sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders. Sunil Suresh and Shubha Sunil, promoters of Stanley, will sell 1.18 million shares each in the OFS portion of the IPO. Investor Oman India Joint Investment Fund II will also divest 5,545,000 shares in the IPO.
Adani Ports target price increased by Kotak Equities as outperformance is likely to continue
Adani Ports' growth in volumes outpaced the Indian market, despite Gangavaram Port's loss due to strike/shutdown. RITES shares rallied 4% on signing an MoU with DMRC.
What clearing vendor dues via equity means for firms
Vodafone Idea's board approved preferential allotment of equity shares to Nokia and Ericsson to clear dues. Vi's vendor ATC Telecom also benefitted from stock market gains. Vi's move to dilute equity for debt repayment is uncommon in listed companies.
Battery Smart raises $65 million at $340-million valuation
Battery Smart's funding round included investments from Blume Ventures, British International Investment, and Ecosystem Integrity Fund. These investors have shown increased interest in the company.
CX Partners buys controlling stake in fertility centre Sabine
Founded in 2010, Sabine's Muvattupuzha hospital draws couples from across Kerala for IVF treatment that helps individuals or couples get pregnant. On an average, Sabine does about 500-600 IVF cycles per month, or about 42%-45% of all IVF procedures in Kerala.
Robotics company Difacto raises $4.8 million from Stakeboat Capital
Bengaluru-headquartered Difacto will use the funds to expand across sectors such as cars, home appliances and electronics, as investment and volume in manufacturing go up.
Hot Stocks: Brokerage view on Wipro, IndiGo, UNO Minda and GAIL
Domestic brokerage Kotak Institutional Equities has a buy rating on IndiGo with a target price of Rs 5,700. The probability of Indigo breaching margin peaks is increasing. Most challengers to IndiGo will see another year of stiff losses in FY2025.
India seeks firms make additional disclosures to fast track public offers, document shows
SEBI wants companies seeking to go public to provide 31 additional disclosures, including details on conflicts of interest. The regulator aims to expedite public offers by requiring more information from merchant bankers, as reported by Reuters.
Some Indian brokers impose higher trading margins to withstand election volatility
Some large Indian brokerage firms have asked clients to furnish higher margins against trades this week to limit the risk of default ahead of the results of India's national elections, due on Tuesday.
General Atlantic likely to sell up to 6.8% stake in KFin Technologies today
The base size of the sale is 70.17 lakh shares, constituting 4.1% of the company, with an option to increase to 1.17 crore shares or 6.8% of today's equity.
Rupee slips on importer dollar demand, forward premiums inch up
The dollar index slipped below the 104.5 mark, extending its losses from Monday, while most Asian currencies ticked up, with the Korean won up 0.4% and leading gains.
ChrysCapital sets sights on pharma buyout deals
ChrysCapital, led by MD Kshitij Sheth, aims to acquire Indian companies in the formulation business with potential valuations of $200 million-$500 million, focusing on growth and eventual public listings.
ITC Demerger: IiAS advises shareholders to vote against splitting of hotels business
IiAS does not see any substantial value unlocking for ITC’s hotel business and thus recommends shareholders to vote against the proposed demerger of the business. The advisory firm called it a lack of clarity on the part of the board of directors on the plan for the 40% holding in the hotels business.
Dollar firm ahead of global inflation data
Investors are focusing on U.S., European, and Japanese inflation data to guide the global interest rate outlook for the week, impacting foreign exchange trade dominated by the hunt for 'carry' and supporting the dollar.
Here are the key mistakes that founders make at different stages of building startups
When you a building a startup you must know what are the things that could go wrong while launching your dream project. To make it easier for you, we have made a list of mistakes that founders are likely to make at different stages of growth and funding of a startup.
More PE firms gearing up for India debut
The US PE firm Platinum Equity is exploring investments in a range of sectors.
Strange tale of Jim Simons: Despite his investing genius, it’s of little use to investors
Simon’s story is of extraordinary intellect and unconventional methods, setting him apart in the investment world. While Buffett, Munger and Kahneman offered insights and knowledge that the average investor could adopt, Simon’s approach was different. His reliance on advanced mathematical models and statistical analysis was innovative and almost exclusive to his firm’s unique skill set.
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