The IPO of Indegene has been oversubscribed more than four times on the second day of bidding. Non-institutional investors have driven the strong demand, followed by retail investors. The company has raised Rs 549 crore from anchor investors. The funds raised will be used for debt repayment, capital expenditure, and inorganic growth.
HDFC Capital, a subsidiary of HDFC Bank Ltd and the real estate private equity arm of HDFC Group, has exited from a Total Environment project in Bangalore with a return of close to Rs 300 crore. The project involved the development of residential and commercial space in Whitefield, Bangalore.
China has focused on Afghanistan’s mining sector and aimed to exert its influence through investment initiatives since the Taliban seized power in the country. The Taliban ambassador to China met with the Minister of Mines and Petroleum to discuss further investment in Afghanistan’s mines. Chinese companies have shown interest in investing in various industries, including oil, copper, and lithium, highlighting their strategic interest in Afghanistan’s resources. China proposed a significant investment of $10 billion to strengthen its presence in Afghanistan’s resource-rich landscape.
Singapore’s Temasek and US’ Fidelity are reportedly in talks to invest $200 million in Lenskart through a secondary share sale. This investment would raise Lenskart’s valuation to about $5 billion, surpassing that of Warby Parker. Other early investors in the eyewear company may also divest a portion of their holdings. Lenskart is experiencing significant growth and profitability, with revenue of Rs 5,500 crore in FY24. The company operates retail outlets and recently made an acquisition in Japan.
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VinFast and the Tamil Nadu government signed an MoU to invest $2 billion in the state’s electric vehicle industry. However, the investment has hit a roadblock due to confusion surrounding the region’s new EV policy.
Silver prices in the domestic market are at lifetime highs amid multiple catalysts like safe-haven demand due to escalating geopolitical tensions, hopes of US interest rate cuts, speculative buying, and a sharp rally in industrial metals. Historically, silver and gold, both considered precious metals, are often influenced by similar market conditions. Due to this similarity, both can exhibit similar price movements, with silver prices often following the trends of gold prices.
