From the desk
Short reads on IPOs, private rounds and the market, written for family offices.
Telecom & techJio Platforms and the mega-IPO season: where early money actually earns its return
A reported ₹30,200 Cr offer at a valuation of up to ₹10.3 lakh crore is the biggest book of the year. The return in companies like this was made long before the book opened.
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IPO watchEight IPOs and ₹11,000 Cr in one week: reading the October calendar
Zetwerk, Bonfiglioli, Tonbo and Sahajanand open together on 15 October. Most of the money goes to selling shareholders.
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DefenceDefence after the order-book boom: execution is the next test
With order books full and fresh approvals of about ₹1.6 lakh crore, analysts expect Q2 to be judged on deliveries. The same lens applies to unlisted defence suppliers.
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Money flowsForeign money is leaving. What that means for pre-IPO entry prices
Record FII outflows and an eighth straight weekly loss have pulled listed multiples down. Private rounds priced off last year's peers have not caught up.
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RatesThe RBI raises the repo rate to 5.5%. What dearer money means for private rounds
A 25 bp hike and a shift to 'calibrated tightening' on 7 October. Rate cuts are off the table for now, and that changes the arithmetic for working-capital-heavy companies.
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RegulationSEBI's warning on unlisted-share platforms, and how a private placement differs
SEBI says websites that trade shares of unlisted public companies are not authorised. A private placement is a different route under the Companies Act.
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EnergyIndia reached E20. What comes next for grain distilleries
Blending hit 20% five years early, and capacity has run ahead of demand. With no decision yet beyond E20, the distilleries that win will be the ones with more than one buyer.
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IPO watchSeptember's record IPO month, read closely
34 main-board IPOs raised ₹39,380 Cr. Strip out the NSE issue and the median listing gain fell to under 6%.
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